Board of Governors of the Federal Reserve System

Commercial Paper

Volume Statistics for Commercial Paper Issuance Derived from data supplied by The Depository Trust & Clearing Corporation

Data as of January 23, 2015Posted January 26, 2015

Volume statistics for daily commercial paper issuance are provided for each of the commercial paper rate categories: AA nonfinancial, A2/P2 nonfinancial, AA financial, and AA asset-backed; as well as for the total market. Total market is not the sum of the four rate categories as there is additional issuance that does not fall in any of the rate categories. The criteria that determine which issues are included in the rate categories are detailed in the Rate Calculations section of the About page of this release. The market statistics reflect all sales of commercial paper to investors by dealers or direct issuers, excluding secondary issues and repurchase agreement and financing issues.

AA nonfinancial

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014 4,926 2,892 736 251 425 292 330 189 109 25 11 18 12 15
2015* 5,480 3,393 182 433 810 427 236 214 127 7 19 33 17 10
Monthly average
2014-Aug. 6,074 3,321 1,083 243 557 414 456 212 112 32 10 23 17 19
Sept. 6,742 4,239 1,135 277 475 271 347 238 149 36 11 17 10 15
Oct. 4,366 2,397 946 232 448 172 172 169 95 31 10 18 7 9
Nov. 5,845 3,714 781 283 514 269 285 211 129 26 11 21 12 13
Dec. 5,808 3,955 919 280 269 149 236 227 152 34 13 12 7 10
2015-Jan.* 5,480 3,393 182 433 810 427 236 214 127 7 19 33 17 10
Weekly (Friday) average
Dec. 26 4,212 3,006 1,133 0 60 12 0 157 111 43 0 2 0 0
Jan. 2 2,305 1,683 131 325 134 20 12 126 92 6 22 4 1 0
Jan. 9 6,475 4,931 211 330 761 223 19 227 162 10 13 31 9 2
Jan. 16 6,233 2,904 106 771 1,362 656 434 251 114 3 35 55 27 17
Jan. 23* 3,641 2,290 200 61 289 483 318 150 96 6 2 14 16 15
Daily
Jan. 19 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 20 7,633 5,901 0 150 593 835 153 267 203 0 3 26 29 6
Jan. 21 2,530 1,087 76 0 251 398 718 129 57 3 0 14 16 39
Jan. 22 2,100 1,094 50 92 128 435 300 93 55 1 5 8 13 11
Jan. 23 2,300 1,079 674 0 185 262 101 109 69 20 0 7 8 5
* Data through January 23.

A2/P2 nonfinancial

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014 4,885 2,874 654 614 570 117 55 428 245 57 57 54 11 4
2015* 5,859 3,042 903 889 816 168 42 514 248 79 82 84 17 4
Monthly average
2014-Aug. 4,585 3,015 491 467 524 63 25 411 266 47 42 46 6 3
Sept. 5,173 3,199 712 559 547 97 59 458 279 67 48 51 8 5
Oct. 5,227 3,179 693 622 574 121 38 437 260 60 53 50 10 4
Nov. 5,184 2,728 609 961 594 220 72 436 227 50 79 55 20 5
Dec. 4,959 2,853 601 583 657 175 90 427 231 51 58 63 17 6
2015-Jan.* 5,859 3,042 903 889 816 168 42 514 248 79 82 84 17 4
Weekly (Friday) average
Dec. 26 4,039 2,122 1,032 405 370 84 27 346 169 81 40 42 8 6
Jan. 2 3,169 1,945 451 348 374 33 17 294 164 39 38 47 3 2
Jan. 9 6,022 2,901 962 960 954 207 38 527 237 73 91 99 24 3
Jan. 16 6,227 3,393 889 1,057 705 156 26 540 272 82 101 71 12 2
Jan. 23* 5,757 3,032 1,008 668 822 157 68 507 251 94 53 84 18 7
Daily
Jan. 19 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 20 6,666 3,423 1,216 978 791 223 36 552 260 106 67 94 21 4
Jan. 21 6,958 3,269 1,273 794 1,321 151 150 582 253 118 64 113 17 17
Jan. 22 4,613 2,565 889 452 599 58 50 460 232 96 45 77 9 1
Jan. 23 4,790 2,872 654 451 578 197 38 433 258 57 37 51 23 7
* Data through January 23.

AA financial

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014 2,983 2,185 148 33 66 107 444 134 97 5 2 3 4 23
2015* 1,240 457 118 3 43 141 477 73 34 5 1 2 6 26
Monthly average
2014-Aug. 4,748 3,904 129 42 76 79 518 213 172 4 2 5 4 26
Sept. 4,469 3,690 206 39 68 119 348 173 139 7 2 3 4 18
Oct. 4,862 4,151 173 25 53 80 380 231 200 6 1 3 3 18
Nov. 1,485 857 36 19 60 123 391 83 50 1 1 3 6 22
Dec. 1,166 507 83 18 49 135 374 63 32 4 1 3 4 20
2015-Jan.* 1,240 457 118 3 43 141 477 73 34 5 1 2 6 26
Weekly (Friday) average
Dec. 26 859 322 2 6 60 101 367 47 23 0 0 2 2 18
Jan. 2 871 232 6 4 19 122 489 46 24 0 1 1 4 15
Jan. 9 1,320 405 105 5 14 163 628 77 30 6 1 1 8 32
Jan. 16 1,201 520 126 2 85 120 348 77 36 6 1 3 6 25
Jan. 23* 1,220 458 152 0 24 150 435 67 35 6 0 2 4 21
Daily
Jan. 19 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 20 1,163 542 85 0 67 150 319 69 44 5 0 3 3 14
Jan. 21 1,476 363 250 0 20 322 521 76 34 9 0 1 8 24
Jan. 22 1,367 384 275 0 0 110 598 68 33 9 0 0 4 22
Jan. 23 874 544 0 0 11 18 300 55 29 0 0 2 1 23
* Data through January 23.

AA asset-backed

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014 9,408 4,894 794 307 1,624 489 1,300 382 207 37 11 59 20 48
2015* 9,185 4,344 667 312 1,847 687 1,328 393 205 31 12 66 26 52
Monthly average
2014-Aug. 9,132 4,375 792 344 1,724 356 1,541 394 201 39 12 68 16 59
Sept. 8,473 3,668 791 548 1,866 471 1,129 371 184 40 16 67 20 45
Oct. 8,280 4,032 828 295 1,511 536 1,077 359 183 40 12 57 21 46
Nov. 10,463 5,144 946 447 1,563 679 1,684 423 213 43 17 57 27 66
Dec. 10,202 5,503 969 309 1,493 533 1,395 390 225 39 11 50 20 47
2015-Jan.* 9,185 4,344 667 312 1,847 687 1,328 393 205 31 12 66 26 52
Weekly (Friday) average
Dec. 26 8,759 4,846 1,271 530 1,038 263 811 324 185 51 16 38 9 25
Jan. 2 8,388 3,509 1,343 287 1,568 283 1,398 331 171 47 10 47 9 47
Jan. 9 9,906 4,700 529 277 1,881 723 1,795 421 216 26 9 68 29 72
Jan. 16 9,836 4,659 610 352 2,243 854 1,120 416 218 30 18 74 33 42
Jan. 23* 7,533 3,794 668 238 1,426 427 981 338 184 35 8 56 16 39
Daily
Jan. 19 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 20 10,447 4,072 678 84 3,221 531 1,862 449 187 32 3 127 25 75
Jan. 21 6,595 3,735 685 232 835 479 630 280 176 29 5 33 15 22
Jan. 22 6,533 3,899 315 334 864 225 896 309 197 28 10 32 6 36
Jan. 23 6,558 3,470 993 301 783 473 538 312 178 51 13 30 17 23
* Data through January 23.

Total market

Period Amount 1 Number of issues
Total Days to maturity Total Days to maturity
1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days 1 - 4 days 5 - 9 days 10 - 20 days 21 - 40 days 41 - 80 days 81+ days
Annual average
2013 77,384 48,518 9,644 3,265 6,513 2,586 6,858 3,190 1,889 364 188 326 129 295
2014 80,421 53,016 8,737 3,196 6,334 2,595 6,543 3,450 2,129 367 195 334 131 294
2015* 84,718 52,439 8,464 4,069 7,635 3,978 8,133 3,705 2,082 376 270 440 195 341
Monthly average
2014-Aug. 82,889 53,752 10,490 2,758 6,833 2,288 6,768 3,489 2,136 392 174 354 120 313
Sept. 84,330 54,910 8,930 3,715 7,316 2,746 6,714 3,604 2,210 401 198 368 131 296
Oct. 81,536 54,478 8,703 3,523 5,818 2,741 6,272 3,513 2,193 378 205 316 136 284
Nov. 91,847 61,892 9,409 4,392 5,878 3,322 6,954 3,788 2,336 395 254 318 163 321
Dec. 83,468 57,827 7,854 3,318 5,991 3,068 5,409 3,502 2,274 337 199 312 151 229
2015-Jan.* 84,718 52,439 8,464 4,069 7,635 3,978 8,133 3,705 2,082 376 270 440 195 341
Weekly (Friday) average
Dec. 26 68,220 47,382 10,448 2,423 3,227 2,143 2,598 2,862 1,880 431 145 197 92 116
Jan. 2 60,780 39,406 6,307 2,161 5,258 2,427 5,220 2,660 1,680 284 149 262 97 188
Jan. 9 90,523 54,210 8,331 3,773 8,818 4,142 11,249 3,930 2,114 368 265 521 217 444
Jan. 16 85,757 54,836 7,492 4,843 7,604 4,155 6,827 3,753 2,164 345 325 417 203 298
Jan. 23* 80,918 51,099 9,795 3,452 6,450 3,863 6,257 3,548 2,050 438 210 384 176 290
Daily
Jan. 19 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 20 96,681 59,274 12,010 4,365 8,861 5,016 7,155 4,031 2,225 511 254 499 224 318
Jan. 21 79,272 51,139 8,365 2,679 6,493 4,511 6,086 3,559 2,041 411 184 400 210 313
Jan. 22 77,217 48,027 8,603 3,550 6,061 3,610 7,365 3,390 1,994 412 199 343 151 291
Jan. 23 70,500 45,957 10,203 3,215 4,386 2,316 4,423 3,211 1,941 418 203 295 118 236
* Data through January 23.

Footnotes

1. Millions of dollars.

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Last update: January 26, 2015