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 26, 2015Posted February 27, 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* 4,908 2,982 416 353 609 263 286 191 111 14 17 26 11 13
Monthly average
2014-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. 4,944 3,033 240 416 660 351 243 194 114 8 19 27 14 11
Feb.* 4,868 2,925 612 282 551 164 333 188 108 21 14 24 7 14
Weekly (Friday) average
Jan. 30 3,335 1,954 415 365 211 126 265 136 77 12 20 10 6 13
Feb. 6 4,958 2,912 855 324 555 160 152 188 108 31 14 21 7 6
Feb. 13 4,909 3,357 310 200 562 110 370 184 114 12 14 23 5 16
Feb. 20 3,987 2,392 420 157 446 301 270 162 98 14 9 19 13 10
Feb. 27* 5,584 2,935 877 459 639 98 576 218 110 26 17 32 5 28
Daily
Feb. 20 3,041 2,263 37 189 378 50 125 152 105 9 8 22 1 7
Feb. 23 7,608 5,514 574 270 793 102 354 256 171 17 6 43 6 13
Feb. 24 6,202 3,663 882 8 719 121 809 242 144 21 1 36 7 33
Feb. 25 3,892 1,293 738 678 212 40 931 176 65 26 21 17 1 46
Feb. 26 4,633 1,268 1,314 880 831 131 210 199 60 41 40 34 5 19
* Data through February 26.

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* 5,870 3,219 929 813 710 141 58 512 266 73 81 72 14 5
Monthly average
2014-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. 5,727 3,039 889 810 806 143 40 507 256 76 75 80 15 4
Feb.* 6,029 3,419 974 815 604 139 78 518 278 69 88 63 13 6
Weekly (Friday) average
Jan. 30 5,328 3,031 846 573 775 69 34 485 281 68 54 66 10 4
Feb. 6 6,385 3,496 1,107 760 827 130 65 562 302 90 71 80 13 7
Feb. 13 6,005 3,543 816 886 546 167 49 516 284 59 99 53 14 7
Feb. 20 5,947 3,071 1,258 837 486 131 164 498 246 67 104 65 11 5
Feb. 27* 5,695 3,514 722 774 516 123 47 484 270 59 81 51 16 5
Daily
Feb. 20 5,293 3,584 543 636 440 90 0 478 286 33 87 62 10 0
Feb. 23 5,460 3,469 386 833 613 110 50 462 267 33 83 56 16 7
Feb. 24 5,403 3,216 675 843 535 116 20 497 253 67 90 61 23 3
Feb. 25 6,503 3,943 1,331 620 487 82 39 476 253 94 67 44 12 6
Feb. 26 5,413 3,427 496 802 427 184 78 499 308 43 85 44 15 4
* Data through February 26.

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* 1,155 483 125 4 26 102 414 68 33 6 1 2 4 23
Monthly average
2014-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. 1,185 473 119 3 34 113 443 71 34 5 1 2 5 25
Feb.* 1,121 493 132 6 18 90 382 64 32 6 1 2 4 21
Weekly (Friday) average
Jan. 30 1,023 523 122 2 6 28 342 67 37 5 1 1 2 22
Feb. 6 1,237 658 123 12 4 75 365 67 39 4 1 0 4 19
Feb. 13 1,260 541 114 0 37 69 498 62 31 5 0 2 2 22
Feb. 20 942 381 163 7 6 132 253 59 27 8 0 1 4 18
Feb. 27* 982 341 134 3 23 93 388 69 29 8 0 2 4 25
Daily
Feb. 20 716 348 0 2 0 162 205 53 29 0 1 0 5 18
Feb. 23 717 463 0 0 5 53 197 50 31 0 0 1 2 16
Feb. 24 892 300 35 14 64 117 362 79 29 3 1 5 7 34
Feb. 25 1,182 302 250 0 10 100 520 74 30 13 0 2 2 27
Feb. 26 1,137 300 250 0 14 101 471 72 27 15 0 1 6 23
* Data through February 26.

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* 9,291 4,584 736 336 1,650 517 1,468 389 209 35 14 58 20 54
Monthly average
2014-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. 8,581 4,101 687 298 1,638 567 1,289 368 194 33 12 58 22 49
Feb.* 10,081 5,122 790 378 1,662 461 1,667 413 226 37 15 58 19 59
Weekly (Friday) average
Jan. 30 6,768 3,371 747 258 1,011 206 1,175 293 162 38 11 35 8 40
Feb. 6 9,981 4,770 791 253 1,515 321 2,330 423 213 40 10 55 20 84
Feb. 13 9,571 5,084 546 614 1,605 392 1,329 393 220 30 22 58 16 47
Feb. 20 10,774 5,136 902 346 2,540 343 1,506 422 221 39 14 83 16 49
Feb. 27* 10,151 5,594 981 271 1,041 840 1,423 417 254 38 14 36 24 51
Daily
Feb. 20 12,271 6,066 1,375 258 2,797 246 1,527 483 263 57 11 84 11 57
Feb. 23 10,859 6,818 718 368 1,279 441 1,234 450 287 23 22 49 16 53
Feb. 24 9,546 5,521 605 162 987 1,046 1,225 399 260 21 10 34 27 47
Feb. 25 10,342 5,271 1,459 159 1,371 1,027 1,055 437 251 57 12 46 31 40
Feb. 26 9,856 4,767 1,143 396 525 847 2,178 381 219 51 12 15 20 64
* Data through February 26.

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* 81,838 51,271 8,748 3,930 6,964 3,154 7,770 3,577 2,065 376 263 386 156 332
Monthly average
2014-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. 80,779 50,071 8,372 3,847 7,219 3,696 7,573 3,554 2,023 369 253 407 179 322
Feb.* 83,015 52,605 9,166 4,023 6,681 2,552 7,988 3,604 2,111 384 273 364 129 343
Weekly (Friday) average
Jan. 30 68,961 42,968 8,095 3,181 5,972 2,851 5,894 3,100 1,847 347 202 305 133 266
Feb. 6 81,516 51,789 8,661 3,299 6,776 2,717 8,274 3,586 2,131 378 218 361 149 350
Feb. 13 83,667 54,894 8,143 4,692 5,606 2,593 7,739 3,576 2,146 339 309 332 132 318
Feb. 20 84,844 52,138 10,807 4,137 7,549 2,312 7,901 3,662 2,087 437 286 394 113 346
Feb. 27* 82,246 51,231 9,437 3,977 7,037 2,533 8,031 3,602 2,066 394 285 379 117 361
Daily
Feb. 20 83,204 53,377 10,255 3,875 7,878 1,109 6,709 3,698 2,196 421 294 352 74 361
Feb. 23 81,500 53,697 6,429 3,377 8,363 1,716 7,918 3,625 2,174 243 270 422 105 411
Feb. 24 81,253 49,650 10,236 3,130 7,845 2,981 7,412 3,557 1,983 400 253 409 138 374
Feb. 25 86,916 53,254 11,667 4,837 6,510 2,491 8,156 3,718 2,110 497 292 369 109 341
Feb. 26 79,312 48,321 9,416 4,565 5,429 2,944 8,638 3,506 1,996 436 324 317 116 317
* Data through February 26.

Footnotes

1. Millions of dollars.

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Last update: February 27, 2015