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 May 26, 2016Posted May 27, 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* 6,637 3,638 1,091 353 574 566 415 267 143 36 16 27 25 21
Monthly average
2015-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. 6,742 3,870 950 310 680 624 309 262 146 32 15 31 24 15
Mar. 5,264 2,891 949 359 417 404 244 210 112 31 17 20 16 13
Apr. 5,457 2,584 888 334 503 594 554 224 107 28 14 24 25 26
May* 8,205 4,657 1,739 395 531 372 511 317 177 53 18 23 19 27
Weekly (Friday) average
Apr. 29 5,514 2,549 974 438 545 453 556 230 106 27 16 27 24 30
May 6 7,805 4,039 1,863 265 611 509 519 305 165 53 13 25 24 25
May 13 7,615 4,153 1,935 344 448 312 425 306 170 55 16 20 19 26
May 20 8,533 5,101 1,626 558 518 268 461 307 173 48 23 23 13 27
May 27* 9,033 5,505 1,481 416 553 407 671 358 208 56 19 26 21 28
Daily
May 20 8,337 4,128 3,027 522 386 171 103 316 151 79 39 26 12 9
May 23 11,102 7,421 1,434 340 335 616 956 435 292 60 17 16 24 26
May 24 10,290 6,265 1,278 487 1,035 546 679 407 241 51 22 38 30 25
May 25 9,503 6,556 1,184 317 689 381 375 391 232 47 16 39 22 35
May 26 5,236 1,778 2,027 520 154 84 674 199 65 67 22 10 8 27
* Data through May 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
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* 5,235 2,890 656 687 806 158 38 493 258 62 72 83 16 3
Monthly average
2015-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. 5,242 2,750 662 724 905 139 61 500 251 65 73 94 13 4
Mar. 4,831 2,753 651 554 672 177 23 449 247 59 58 68 16 2
Apr. 5,053 2,829 545 700 811 118 49 496 266 61 74 83 10 3
May* 5,968 3,507 781 709 738 199 35 555 303 68 82 77 24 2
Weekly (Friday) average
Apr. 29 5,037 2,927 496 706 712 86 110 493 280 54 77 73 6 2
May 6 6,584 3,670 823 760 1,016 254 61 592 303 68 85 102 31 4
May 13 5,886 3,615 823 627 628 161 32 530 306 70 70 66 17 2
May 20 5,852 3,511 819 742 583 185 12 558 312 73 80 67 26 1
May 27* 5,448 3,164 628 706 720 195 36 536 288 58 96 72 20 2
Daily
May 20 5,348 3,403 594 756 528 68 0 485 305 49 69 59 3 0
May 23 5,319 3,308 589 409 899 113 0 528 313 52 61 92 10 0
May 24 5,487 3,305 663 769 658 89 4 543 278 80 109 65 10 1
May 25 5,257 3,127 359 743 566 323 139 525 293 39 86 62 38 7
May 26 5,729 2,917 898 903 758 253 0 547 269 62 128 67 21 0
* Data through May 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
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* 13,342 12,201 260 67 96 112 606 419 360 8 2 5 5 39
Monthly average
2015-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. 13,418 11,884 446 107 128 140 712 463 394 13 4 5 6 41
Mar. 13,468 12,201 332 98 143 126 569 459 397 10 3 7 4 37
Apr. 13,695 12,995 79 13 53 77 479 376 327 3 1 4 4 38
May* 15,783 15,201 93 18 44 59 367 411 373 3 1 3 3 27
Weekly (Friday) average
Apr. 29 12,913 12,342 50 2 11 107 401 348 300 2 0 2 6 38
May 6 16,128 15,524 109 10 70 56 358 428 385 4 1 4 3 32
May 13 17,056 16,474 80 25 66 14 396 431 393 3 3 3 2 27
May 20 14,309 13,858 29 33 24 93 272 387 353 1 1 3 4 25
May 27* 15,604 14,883 169 3 9 79 461 393 360 4 0 1 3 25
Daily
May 20 14,598 14,313 19 0 0 0 266 392 365 2 0 0 0 25
May 23 18,027 17,853 0 0 1 60 113 437 428 0 0 1 2 6
May 24 15,885 15,623 1 11 12 27 209 405 373 1 1 2 2 26
May 25 14,624 13,097 25 0 0 115 1,387 401 340 1 0 0 4 56
May 26 13,878 12,960 648 0 22 114 135 330 298 15 0 2 4 11
* Data through May 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
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* 11,312 6,663 1,090 255 1,193 599 1,511 404 235 42 10 45 22 51
Monthly average
2015-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. 11,630 6,983 1,196 231 1,101 579 1,540 414 238 48 10 43 21 54
Mar. 11,883 6,600 1,398 234 1,233 603 1,815 406 226 50 10 44 21 54
Apr. 10,713 6,558 893 257 1,102 574 1,329 382 234 34 9 41 20 44
May* 9,987 5,911 944 218 1,231 476 1,208 377 224 34 8 47 18 45
Weekly (Friday) average
Apr. 29 10,493 6,421 804 262 1,348 644 1,013 384 241 32 9 47 21 34
May 6 10,192 5,917 926 242 957 401 1,749 378 224 32 10 39 14 59
May 13 9,689 5,839 760 246 907 732 1,205 367 219 26 11 32 27 52
May 20 10,285 5,883 1,206 189 1,770 421 815 394 223 44 6 69 17 35
May 27* 9,731 6,029 867 189 1,305 316 1,024 366 232 35 8 48 12 32
Daily
May 20 11,204 5,862 1,665 196 2,653 308 520 416 222 51 7 95 17 24
May 23 9,732 6,532 412 0 1,219 460 1,108 370 250 13 0 52 20 35
May 24 9,310 5,961 1,179 116 419 496 1,139 369 248 41 5 19 19 37
May 25 10,532 5,627 942 300 2,403 175 1,085 385 215 54 9 73 4 30
May 26 9,350 5,996 933 342 1,179 135 765 339 216 33 17 46 3 24
* Data through May 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
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* 77,389 48,018 8,453 3,511 6,428 3,326 7,652 3,521 1,978 396 243 391 173 340
Monthly average
2015-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. 76,176 46,754 7,882 3,802 6,370 2,954 8,413 3,519 1,947 386 266 404 154 362
Mar. 73,187 45,679 8,269 3,308 6,207 2,696 7,028 3,288 1,878 387 231 350 140 301
Apr. 79,677 50,421 8,215 3,525 6,728 3,647 7,141 3,569 2,041 387 238 396 178 328
May* 81,475 53,198 9,842 3,069 6,008 3,032 6,325 3,627 2,114 430 228 383 173 300
Weekly (Friday) average
Apr. 29 78,780 51,272 8,432 3,566 6,318 2,795 6,398 3,455 2,043 361 238 374 148 291
May 6 85,049 53,756 9,767 2,794 6,417 3,499 8,815 3,761 2,122 422 210 415 205 386
May 13 80,734 53,717 9,692 2,828 5,503 2,936 6,059 3,557 2,081 428 220 364 165 299
May 20 78,471 51,826 9,820 3,318 6,085 2,547 4,875 3,561 2,090 434 230 386 155 266
May 27* 81,689 53,570 10,150 3,404 6,031 3,176 5,358 3,631 2,173 439 255 362 166 236
Daily
May 20 76,415 50,909 8,983 4,067 6,571 2,376 3,509 3,416 2,044 348 299 401 123 201
May 23 81,393 59,592 6,465 2,883 5,769 2,493 4,191 3,552 2,373 286 218 377 131 167
May 24 84,028 55,573 11,210 2,933 5,454 2,780 6,078 3,784 2,237 500 233 358 163 293
May 25 84,672 52,482 10,675 3,943 7,377 4,406 5,789 3,802 2,196 475 255 375 233 268
May 26 76,663 46,633 12,249 3,857 5,524 3,024 5,375 3,386 1,887 494 315 337 139 214
* Data through May 26.

Footnotes

1. Millions of dollars.

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Last update: May 27, 2016