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 September 15, 2014Posted September 16, 2014

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
2012 5,057 2,890 455 398 697 308 308 164 91 16 15 23 10 10
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014* 4,673 2,639 661 245 433 325 368 181 100 22 11 18 13 17
Monthly average
2014-Apr. 2,711 1,192 494 285 228 312 200 120 61 18 11 11 10 10
May 5,879 3,359 697 267 662 275 620 234 130 24 13 26 13 28
June 7,087 5,047 906 278 276 143 437 255 181 28 10 13 6 16
July 5,863 3,660 702 271 453 383 394 224 135 26 12 20 15 17
Aug. 6,074 3,321 1,083 243 557 414 456 212 112 32 10 23 17 19
Sept.* 6,591 3,957 1,188 287 540 214 404 227 134 36 11 18 8 19
Weekly (Friday) average
Aug. 22 6,912 4,033 1,353 179 578 146 622 236 130 37 8 25 6 29
Aug. 29 4,849 2,998 381 337 691 279 163 176 104 11 15 27 11 8
Sept. 5 7,412 4,000 1,945 323 619 235 290 255 139 61 10 21 9 15
Sept. 12 5,430 3,428 669 153 457 220 505 193 118 20 8 16 9 22
Sept. 19* 9,107 6,435 762 815 642 100 353 285 200 18 28 18 4 17
Daily
Sept. 9 5,021 2,550 803 118 764 150 635 200 101 28 7 29 5 30
Sept. 10 9,028 6,942 669 276 279 368 494 287 207 21 12 7 18 22
Sept. 11 4,622 1,950 1,030 262 870 165 345 149 67 22 14 29 4 13
Sept. 12 3,659 1,985 784 40 60 415 373 142 84 21 5 3 17 12
Sept. 15 9,107 6,435 762 815 642 100 353 285 200 18 28 18 4 17
* Data through September 15.

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
2012 5,241 3,097 675 599 676 143 51 249 142 29 30 37 8 3
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014* 4,777 2,824 656 592 556 100 51 422 243 57 56 52 10 4
Monthly average
2014-Apr. 4,656 2,707 667 628 514 115 25 408 229 60 59 47 10 2
May 5,460 3,104 673 778 715 134 55 478 265 60 73 63 14 3
June 4,912 3,030 560 695 515 76 36 420 246 45 65 53 8 3
July 4,988 3,045 542 660 659 57 25 437 259 48 64 59 5 2
Aug. 4,585 3,015 491 467 524 63 25 411 266 47 42 46 6 3
Sept.* 5,030 3,014 686 673 503 83 70 435 255 64 58 44 9 6
Weekly (Friday) average
Aug. 22 4,598 2,983 659 434 441 44 36 437 284 64 37 45 5 3
Aug. 29 4,747 3,189 545 299 600 71 43 400 260 54 28 47 6 5
Sept. 5 5,435 3,277 786 625 528 100 118 472 274 72 54 50 12 9
Sept. 12 4,503 2,720 618 621 439 79 26 390 233 58 52 36 7 3
Sept. 19* 6,046 3,430 625 1,127 725 37 102 517 285 66 95 58 6 7
Daily
Sept. 9 4,291 2,839 566 414 454 18 0 392 241 54 54 41 2 0
Sept. 10 4,486 2,558 959 600 347 20 3 406 229 80 62 33 1 1
Sept. 11 3,929 2,283 473 582 423 144 25 358 219 52 47 27 12 1
Sept. 12 5,355 2,892 438 1,228 563 187 47 393 211 48 72 43 15 4
Sept. 15 6,046 3,430 625 1,127 725 37 102 517 285 66 95 58 6 7
* Data through September 15.

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
2012 1,445 440 69 78 118 101 638 60 12 3 3 6 5 31
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014* 3,058 2,201 165 38 72 107 476 135 95 6 2 4 5 24
Monthly average
2014-Apr. 2,374 1,553 95 55 72 108 491 99 62 4 2 3 5 23
May 3,354 2,688 130 34 84 95 322 153 117 6 2 4 4 20
June 2,857 2,011 195 40 94 102 415 120 83 6 1 5 3 21
July 3,916 2,745 390 34 89 62 596 173 123 13 1 5 3 28
Aug. 4,748 3,904 129 42 76 79 518 213 172 4 2 5 4 26
Sept.* 4,883 3,869 294 57 97 157 408 194 151 10 2 5 6 21
Weekly (Friday) average
Aug. 22 5,046 4,311 138 23 57 80 437 218 176 4 1 5 4 28
Aug. 29 5,678 4,944 182 13 90 125 324 253 213 6 2 6 7 20
Sept. 5 5,904 4,740 472 11 182 196 303 255 208 15 2 6 6 17
Sept. 12 4,249 3,354 190 16 44 128 517 157 114 7 1 4 5 25
Sept. 19* 3,970 2,960 105 450 25 145 285 141 103 9 9 2 4 14
Daily
Sept. 9 3,251 2,441 50 69 40 268 382 135 89 3 2 2 14 25
Sept. 10 3,371 2,823 78 0 101 270 99 135 96 3 0 10 8 18
Sept. 11 7,661 6,433 175 10 1 1 1,041 241 194 7 2 1 1 36
Sept. 12 3,036 2,437 200 2 0 101 297 122 101 4 1 0 3 13
Sept. 15 3,970 2,960 105 450 25 145 285 141 103 9 9 2 4 14
* Data through September 15.

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
2012 15,681 8,780 1,532 421 2,816 787 1,346 447 246 42 14 81 25 41
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014* 9,432 4,983 757 289 1,635 465 1,304 382 210 35 10 60 19 48
Monthly average
2014-Apr. 8,465 4,629 600 158 1,478 429 1,171 343 195 31 6 53 16 41
May 9,128 4,555 686 247 1,640 538 1,462 366 189 35 10 60 22 50
June 9,692 5,259 772 460 1,709 400 1,093 382 212 35 15 62 17 41
July 8,766 4,480 1,038 274 1,492 497 984 362 197 43 9 55 20 38
Aug. 9,132 4,375 792 344 1,724 356 1,541 394 201 39 12 68 16 59
Sept.* 9,033 3,798 857 718 1,673 567 1,421 397 190 40 20 65 23 59
Weekly (Friday) average
Aug. 22 9,163 4,274 676 339 2,026 408 1,440 404 197 36 11 84 17 59
Aug. 29 8,767 4,084 903 291 1,603 247 1,640 366 194 43 11 57 11 50
Sept. 5 8,190 3,623 960 307 1,098 585 1,616 373 183 44 10 44 24 68
Sept. 12 8,720 3,780 872 776 1,415 586 1,291 385 190 39 22 55 23 56
Sept. 19* 13,973 4,587 367 2,068 5,260 398 1,293 550 216 27 46 196 21 44
Daily
Sept. 9 7,498 3,393 907 446 980 374 1,398 379 181 43 15 48 17 75
Sept. 10 8,271 3,585 1,229 218 1,362 658 1,218 385 185 43 11 62 28 56
Sept. 11 8,883 4,121 885 241 1,579 760 1,298 381 200 50 9 56 26 40
Sept. 12 10,195 4,222 1,022 2,785 1,015 330 821 397 198 45 67 35 13 39
Sept. 15 13,973 4,587 367 2,068 5,260 398 1,293 550 216 27 46 196 21 44
* Data through September 15.

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
2012 71,805 42,245 6,970 3,626 8,655 3,052 7,257 2,334 1,282 228 145 312 121 246
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* 78,559 51,157 8,826 3,022 6,423 2,428 6,704 3,394 2,073 365 189 339 125 302
Monthly average
2014-Apr. 68,804 43,495 7,555 2,882 5,717 2,519 6,636 3,081 1,855 339 178 297 126 287
May 81,320 53,212 9,053 3,199 6,572 2,504 6,780 3,561 2,183 379 206 354 132 307
June 82,510 56,384 8,557 3,524 6,611 1,897 5,537 3,458 2,210 353 202 337 102 254
July 78,952 51,215 10,289 2,706 6,578 2,400 5,765 3,415 2,097 399 180 358 120 261
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.* 85,221 53,687 9,915 4,338 7,262 2,600 7,420 3,629 2,149 423 230 369 127 332
Weekly (Friday) average
Aug. 22 84,306 55,429 10,929 2,580 6,265 2,707 6,396 3,558 2,171 420 149 350 139 329
Aug. 29 84,241 55,180 10,200 2,475 7,807 1,755 6,824 3,523 2,191 398 163 374 103 295
Sept. 5 86,446 52,390 11,946 3,859 7,364 2,342 8,545 3,684 2,118 484 218 385 113 367
Sept. 12 80,969 53,192 9,314 3,651 5,956 2,591 6,265 3,484 2,118 403 211 326 127 300
Sept. 19* 101,584 61,346 4,791 9,687 13,384 3,679 8,697 4,139 2,432 277 372 520 180 358
Daily
Sept. 9 80,482 49,994 12,315 2,091 5,798 3,292 6,993 3,511 2,042 474 159 342 152 342
Sept. 10 89,033 59,379 12,043 3,004 5,486 3,244 5,875 3,774 2,292 494 199 357 145 287
Sept. 11 79,926 54,741 8,140 3,508 5,257 2,327 5,954 3,349 2,077 389 224 284 121 254
Sept. 12 82,595 54,263 9,383 7,622 4,778 2,242 4,306 3,497 2,164 387 330 279 113 224
Sept. 15 101,584 61,346 4,791 9,687 13,384 3,679 8,697 4,139 2,432 277 372 520 180 358
* Data through September 15.

Footnotes

1. Millions of dollars.

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Last update: September 16, 2014