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 July 30, 2015Posted July 31, 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* 5,188 3,286 740 370 420 170 203 195 123 23 16 17 7 9
Monthly average
2015-Feb. 4,805 2,869 580 285 597 158 316 188 108 20 14 26 7 14
Mar. 4,256 2,403 829 423 401 67 133 179 108 29 16 17 3 5
Apr. 3,658 1,819 618 310 400 223 290 145 80 17 12 16 8 13
May 6,588 4,402 1,104 316 403 148 216 231 154 32 14 16 6 9
June 6,444 4,660 971 489 139 98 87 223 160 29 19 6 5 4
July* 5,698 3,862 808 333 383 160 152 206 138 24 16 16 6 7
Weekly (Friday) average
July 3 3,969 1,155 1,230 233 812 269 269 168 63 39 16 31 8 12
July 10 6,325 5,030 458 159 259 261 157 230 175 15 11 10 13 6
July 17 4,439 2,602 669 640 381 35 112 165 92 18 27 19 2 7
July 24 6,093 4,468 939 266 292 38 90 206 149 29 11 10 2 5
July 31* 6,021 4,517 618 188 340 176 181 216 169 16 5 16 6 5
Daily
July 24 5,762 1,960 3,547 126 49 22 58 192 67 109 7 2 1 6
July 27 9,193 7,300 883 35 716 102 157 310 253 19 1 28 5 4
July 28 6,216 5,713 200 16 150 61 75 247 226 5 2 10 2 2
July 29 2,708 1,912 430 102 25 114 125 100 74 10 6 4 3 3
July 30 5,967 3,145 959 600 470 425 369 209 124 29 12 21 12 11
* Data through July 30.

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* 5,314 2,963 692 668 767 171 53 467 238 60 70 78 16 4
Monthly average
2015-Feb. 6,088 3,494 961 824 596 134 79 521 283 68 89 62 13 6
Mar. 6,007 3,545 804 598 841 187 33 546 306 70 68 85 15 2
Apr. 4,759 2,488 535 645 850 180 61 452 220 49 74 87 18 5
May 5,336 2,882 640 760 776 196 83 448 211 60 74 78 18 6
June 4,572 2,611 529 504 679 211 37 392 198 46 55 73 17 4
July* 4,836 2,745 526 576 804 139 47 410 198 50 61 83 14 4
Weekly (Friday) average
July 3 4,490 2,543 550 452 828 104 13 391 187 52 55 84 10 3
July 10 5,190 2,817 556 694 930 122 71 430 197 52 60 104 13 4
July 17 5,138 3,077 574 491 795 109 90 443 222 57 56 88 12 8
July 24 4,636 2,745 517 508 663 185 18 393 196 52 62 63 18 2
July 31* 4,000 2,305 398 576 583 128 10 344 179 38 64 52 11 0
Daily
July 24 4,221 2,652 397 735 342 75 20 334 184 28 74 40 7 1
July 27 4,669 2,533 520 724 621 270 0 394 196 48 85 50 15 0
July 28 3,666 2,061 288 562 577 157 20 300 156 31 56 37 19 1
July 29 3,668 2,238 283 408 688 33 18 311 161 24 45 76 4 1
July 30 3,996 2,386 501 610 448 51 0 371 203 48 70 45 5 0
* Data through July 30.

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* 1,136 464 133 25 77 104 333 64 30 5 1 4 5 18
Monthly average
2015-Feb. 1,116 489 125 6 18 87 391 65 32 6 1 2 3 21
Mar. 945 456 124 17 41 72 235 64 34 6 1 4 4 15
Apr. 963 375 182 57 35 60 255 56 29 7 3 2 3 12
May 1,103 362 154 56 151 104 276 54 23 5 2 6 5 13
June 1,249 581 48 16 137 110 356 69 36 2 1 7 5 19
July* 1,404 507 179 16 124 185 393 65 25 5 1 6 8 20
Weekly (Friday) average
July 3 1,569 726 152 2 71 104 513 79 37 4 1 4 3 29
July 10 1,402 495 110 17 44 138 598 54 20 3 1 2 7 21
July 17 1,355 554 180 25 118 100 377 70 31 4 2 5 7 20
July 24 1,305 431 212 20 218 241 183 71 24 7 1 8 11 20
July 31* 1,406 489 188 4 134 321 269 63 25 6 0 8 10 14
Daily
July 24 854 359 0 42 23 324 106 52 20 0 3 2 9 18
July 27 1,342 749 100 0 121 301 70 51 31 2 0 5 9 4
July 28 1,642 609 253 16 354 391 20 72 27 10 1 18 13 3
July 29 1,557 311 375 0 15 272 584 70 21 9 0 4 9 27
July 30 1,082 289 25 0 47 319 401 58 22 2 0 5 8 21
* Data through July 30.

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* 10,396 5,838 948 362 1,513 576 1,159 400 231 40 14 52 21 42
Monthly average
2015-Feb. 10,020 5,103 791 375 1,611 489 1,652 412 226 37 15 56 19 58
Mar. 9,074 4,698 851 400 1,449 564 1,113 370 206 37 14 50 21 41
Apr. 8,018 4,601 531 279 1,362 550 694 333 199 26 11 49 20 27
May 11,516 6,799 984 389 1,648 600 1,096 413 248 41 14 53 20 37
June 14,026 8,395 1,661 455 1,497 621 1,398 478 284 60 18 49 22 46
July* 11,475 7,056 1,095 333 1,420 637 934 423 260 43 13 49 24 36
Weekly (Friday) average
July 3 13,311 7,765 1,787 474 1,678 545 1,060 493 289 62 15 54 29 44
July 10 13,131 7,951 1,384 345 1,347 966 1,138 477 285 54 14 50 32 42
July 17 12,152 7,247 1,090 393 1,704 628 1,090 443 258 43 16 57 25 44
July 24 10,540 6,667 797 240 1,382 652 802 392 253 31 11 44 24 28
July 31* 8,930 6,237 640 174 1,194 257 429 335 235 28 8 41 8 15
Daily
July 24 8,998 6,461 1,094 50 453 615 324 327 226 44 3 18 21 15
July 27 10,139 6,184 746 140 2,175 226 668 366 221 29 10 73 8 25
July 28 8,021 6,184 258 100 443 657 379 289 215 15 4 18 19 18
July 29 8,904 6,062 887 345 1,186 40 385 347 242 40 14 42 1 8
July 30 8,657 6,516 668 110 972 105 285 339 261 29 5 31 4 9
* Data through July 30.

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* 79,361 50,664 8,653 3,634 6,524 2,969 6,916 3,388 1,983 361 237 367 149 291
Monthly average
2015-Feb. 82,508 52,158 9,107 4,075 6,720 2,546 7,903 3,596 2,104 382 276 366 128 340
Mar. 75,993 49,543 8,223 3,551 6,366 2,622 5,689 3,426 2,067 364 232 365 140 258
Apr. 71,826 44,963 8,510 3,542 6,235 2,669 5,908 3,143 1,812 341 233 364 139 254
May 85,538 56,367 9,160 3,450 6,712 2,791 7,058 3,423 2,030 368 227 368 144 285
June 83,042 53,574 9,310 3,594 6,057 3,295 7,213 3,378 2,000 369 226 338 155 291
July* 76,845 48,545 7,943 3,431 6,466 3,166 7,295 3,235 1,864 336 219 367 156 293
Weekly (Friday) average
July 3 73,575 40,513 9,174 3,171 8,081 3,713 8,923 3,191 1,614 406 206 404 178 381
July 10 79,519 49,225 7,099 3,286 6,914 3,677 9,317 3,345 1,846 322 219 428 170 360
July 17 73,004 47,419 7,146 3,888 6,589 2,327 5,635 3,189 1,850 313 240 389 135 261
July 24 76,942 49,559 8,340 3,033 5,629 3,512 6,869 3,192 1,913 343 196 305 167 268
July 31* 74,623 51,250 7,259 2,994 5,022 3,014 5,084 3,071 1,974 290 197 271 140 199
Daily
July 24 66,637 46,030 6,994 3,397 3,009 2,788 4,419 2,792 1,786 279 218 192 112 205
July 27 79,761 56,143 6,614 2,538 6,221 2,606 5,640 3,153 2,033 279 202 298 137 204
July 28 74,632 52,183 5,944 2,756 4,606 3,281 5,863 3,004 1,947 266 185 235 160 211
July 29 71,590 48,456 7,815 3,339 4,416 2,648 4,915 2,989 1,879 305 199 303 116 187
July 30 72,508 48,219 8,664 3,341 4,846 3,520 3,919 3,138 2,037 311 201 247 149 193
* Data through July 30.

Footnotes

1. Millions of dollars.

Return to top

Last update: July 31, 2015