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 February 11, 2016Posted February 12, 2016

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
2014 4,926 2,892 736 251 425 292 330 189 109 25 11 18 12 15
2015 6,135 3,973 833 369 460 317 183 226 142 27 16 20 13 8
2016* 7,904 4,447 1,059 367 764 857 410 321 175 39 15 35 37 21
Monthly average
2015-Sept. 8,091 5,325 1,517 335 424 374 116 283 181 47 13 20 17 5
Oct. 7,877 4,700 991 367 623 890 305 282 160 32 17 25 35 14
Nov. 7,218 5,280 337 213 684 594 109 262 179 13 10 30 24 5
Dec. 6,638 4,386 936 487 438 279 112 246 148 36 21 22 13 5
2016-Jan. 7,925 4,444 990 370 774 864 483 337 182 39 14 37 40 25
Feb.* 7,860 4,454 1,206 361 742 841 255 290 158 40 17 30 32 12
Weekly (Friday) average
Jan. 15 7,445 3,972 702 740 843 826 361 351 186 31 27 47 41 20
Jan. 22 6,726 3,618 697 318 567 1,249 276 269 136 24 10 26 51 21
Jan. 29 7,480 4,343 1,166 195 505 518 754 292 170 43 7 19 19 34
Feb. 5 8,101 4,273 1,356 292 1,018 948 215 296 153 45 14 40 33 9
Feb. 12* 7,557 4,680 1,019 447 397 708 306 282 164 33 20 18 30 16
Daily
Feb. 5 4,361 2,148 613 613 337 546 104 178 89 17 25 20 20 7
Feb. 8 10,662 8,743 565 109 209 443 593 381 309 13 14 10 18 17
Feb. 9 9,428 6,734 657 324 313 1,374 26 341 230 27 18 20 44 2
Feb. 10 4,930 1,686 1,586 480 434 401 343 190 60 48 17 14 26 25
Feb. 11 5,210 1,558 1,267 877 632 614 262 216 58 44 33 30 30 21
* Data through February 11.

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
2014 4,885 2,874 654 614 570 117 55 428 245 57 57 54 11 4
2015 5,085 2,827 638 631 750 189 50 451 228 57 67 77 18 4
2016* 5,025 2,529 610 736 958 148 44 464 219 56 71 100 14 3
Monthly average
2015-Sept. 4,502 2,555 631 540 565 173 38 408 205 61 59 63 17 3
Oct. 4,796 2,389 571 663 873 254 47 459 222 53 68 85 25 6
Nov. 4,971 2,566 569 650 813 298 75 442 218 46 64 81 29 4
Dec. 4,712 2,744 574 519 678 180 17 403 213 54 56 63 15 2
2016-Jan. 5,187 2,653 652 773 928 160 21 474 226 59 74 97 16 3
Feb.* 4,684 2,268 521 656 1,022 123 94 442 207 51 65 105 10 4
Weekly (Friday) average
Jan. 15 5,045 2,723 482 854 774 189 23 458 229 43 80 86 18 2
Jan. 22 5,492 2,795 824 774 885 178 37 480 220 70 77 91 16 8
Jan. 29 5,295 2,799 558 906 877 138 17 479 248 43 83 90 13 2
Feb. 5 5,472 2,448 606 722 1,380 171 146 505 213 60 70 142 13 7
Feb. 12* 3,700 2,044 415 574 575 63 29 363 198 40 58 58 7 1
Daily
Feb. 5 3,965 2,113 94 721 919 118 1 375 191 13 77 82 11 1
Feb. 8 3,833 2,457 175 538 476 112 75 373 232 27 49 53 10 2
Feb. 9 3,912 2,201 476 514 668 52 0 374 208 27 58 72 9 0
Feb. 10 3,477 1,829 565 502 514 29 38 354 191 50 53 53 6 1
Feb. 11 3,577 1,689 443 742 642 60 2 350 161 55 74 55 4 1
* Data through February 11.

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
2014 2,983 2,185 148 33 66 107 444 134 97 5 2 3 4 23
2015 1,113 425 118 28 75 106 362 64 28 4 2 4 5 21
2016* 10,976 9,427 344 110 120 142 834 401 326 11 4 6 7 48
Monthly average
2015-Sept. 1,034 369 90 16 66 68 426 55 24 3 1 4 3 20
Oct. 1,017 286 61 35 60 91 484 67 24 2 2 3 5 31
Nov. 909 230 19 13 35 127 485 59 19 1 1 3 5 31
Dec. 1,091 478 28 52 36 102 396 71 30 2 2 3 4 30
2016-Jan. 10,278 8,659 347 94 106 157 916 379 301 11 4 5 8 50
Feb.* 12,450 11,047 338 144 149 111 661 449 378 11 4 7 6 43
Weekly (Friday) average
Jan. 15 10,799 9,058 374 176 57 134 1,000 384 306 12 6 4 5 52
Jan. 22 9,222 7,907 276 36 164 147 693 350 284 9 2 5 8 42
Jan. 29 8,282 6,876 485 68 12 132 709 329 260 14 3 1 8 43
Feb. 5 12,258 10,522 423 195 207 129 783 444 365 13 5 8 6 48
Feb. 12* 12,690 11,705 232 79 78 89 509 455 394 8 4 6 7 36
Daily
Feb. 5 13,000 12,010 437 75 25 88 365 457 404 16 2 2 5 28
Feb. 8 12,820 11,970 95 84 97 45 529 466 417 4 5 5 7 28
Feb. 9 13,775 12,752 278 5 0 54 686 513 449 11 1 0 7 45
Feb. 10 11,065 10,389 140 55 5 10 467 382 332 5 2 1 5 37
Feb. 11 13,102 11,708 414 170 210 245 354 458 378 12 7 18 8 35
* Data through February 11.

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
2014 9,408 4,894 794 307 1,624 489 1,300 382 207 37 11 59 20 48
2015 11,484 6,749 1,149 386 1,439 581 1,179 432 257 45 15 52 21 41
2016* 11,899 7,157 990 308 1,119 724 1,601 429 248 42 12 43 26 58
Monthly average
2015-Sept. 13,593 8,662 1,430 331 1,652 390 1,129 519 331 57 13 66 15 37
Oct. 12,955 7,738 1,564 541 1,446 300 1,365 478 288 57 16 54 14 49
Nov. 13,504 7,995 2,259 422 1,172 787 869 475 285 70 17 49 26 29
Dec. 13,420 8,138 1,171 447 1,140 883 1,640 458 273 43 15 45 31 51
2016-Jan. 12,271 7,270 973 341 1,306 765 1,616 445 256 41 13 49 28 58
Feb.* 11,114 6,918 1,027 237 725 638 1,568 395 233 43 10 30 22 57
Weekly (Friday) average
Jan. 15 11,829 7,076 856 368 1,213 537 1,779 433 252 32 13 49 22 64
Jan. 22 12,861 7,053 1,286 228 1,305 1,362 1,627 487 264 58 7 52 39 67
Jan. 29 11,323 7,051 931 266 1,256 544 1,275 412 250 45 9 45 21 42
Feb. 5 11,959 7,005 981 241 900 813 2,018 428 237 47 9 34 28 72
Feb. 12* 10,057 6,810 1,085 232 507 420 1,004 352 228 38 10 24 14 38
Daily
Feb. 5 9,974 7,005 761 146 608 502 951 367 223 41 8 24 22 49
Feb. 8 10,452 7,316 415 325 700 526 1,170 372 238 22 19 31 20 42
Feb. 9 10,031 6,826 1,434 327 438 371 636 343 227 45 10 22 11 28
Feb. 10 10,408 6,532 1,378 181 450 392 1,477 358 226 41 8 19 14 50
Feb. 11 9,337 6,565 1,112 94 442 390 734 337 222 44 3 25 10 33
* Data through February 11.

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
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 79,575 50,679 8,793 3,790 6,476 3,184 6,652 3,454 2,013 374 244 373 161 288
2016* 76,823 45,025 7,998 3,883 6,641 4,125 9,152 3,607 1,927 385 260 424 208 403
Monthly average
2015-Sept. 85,561 53,120 10,927 4,250 7,113 3,145 7,005 3,768 2,174 476 261 400 165 292
Oct. 80,317 47,963 9,121 4,035 6,950 3,698 8,550 3,626 1,984 392 263 399 203 384
Nov. 78,246 51,033 8,453 3,925 5,810 3,693 5,332 3,430 2,015 357 258 360 187 254
Dec. 77,611 50,746 8,103 4,215 5,842 3,210 5,494 3,416 2,026 384 246 347 160 252
2016-Jan. 77,137 44,346 8,149 3,879 6,846 4,420 9,498 3,647 1,925 397 254 430 224 417
Feb.* 76,159 46,457 7,680 3,892 6,207 3,502 8,421 3,524 1,931 361 273 412 175 371
Weekly (Friday) average
Jan. 15 76,104 43,625 7,546 4,725 6,428 4,128 9,652 3,632 1,923 364 299 412 219 415
Jan. 22 78,007 45,146 9,232 3,559 6,164 6,004 7,902 3,729 1,998 456 229 394 259 392
Jan. 29 69,865 41,124 7,889 3,521 5,698 2,642 8,990 3,291 1,850 361 226 344 139 372
Feb. 5 78,125 45,720 7,886 3,545 7,318 3,921 9,737 3,631 1,930 376 248 470 183 425
Feb. 12* 73,702 47,379 7,423 4,326 4,819 2,978 6,777 3,389 1,932 343 304 339 166 305
Daily
Feb. 5 74,227 48,141 5,803 3,934 6,896 3,439 6,014 3,352 1,950 286 291 379 152 294
Feb. 8 73,905 52,429 5,431 3,560 4,063 2,840 5,582 3,414 2,166 248 271 314 157 258
Feb. 9 84,394 53,483 9,742 4,165 5,283 3,900 7,821 3,761 2,121 425 310 369 204 332
Feb. 10 69,665 40,805 8,695 4,736 4,777 2,509 8,144 3,217 1,704 373 295 315 168 362
Feb. 11 66,842 42,800 5,826 4,841 5,152 2,662 5,562 3,164 1,738 325 340 357 137 267
* Data through February 11.

Footnotes

1. Millions of dollars.

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Last update: February 12, 2016