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 August 20, 2014Posted August 21, 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* 4,534 2,555 610 240 419 337 372 178 98 21 11 18 13 17
Monthly average
2014-Mar. 3,600 1,757 505 256 244 490 347 145 72 17 10 10 18 17
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.* 6,546 3,633 1,077 216 532 513 575 227 121 33 8 22 21 23
Weekly (Friday) average
July 25 6,221 4,470 570 246 334 97 503 224 155 22 10 10 4 22
Aug. 1 5,805 2,580 1,112 385 717 559 452 217 94 33 19 27 24 19
Aug. 8 6,729 3,811 1,593 228 335 400 363 223 120 50 6 16 17 14
Aug. 15 5,332 2,855 533 241 576 614 513 199 105 17 9 22 26 20
Aug. 22* 7,634 5,429 336 166 700 205 799 263 172 11 9 28 9 35
Daily
Aug. 14 4,717 1,697 210 356 1,288 353 813 176 63 6 17 40 17 33
Aug. 15 5,424 2,100 717 331 1,015 960 301 199 77 24 10 43 30 15
Aug. 18 10,321 8,816 437 289 318 128 334 341 272 12 15 18 6 18
Aug. 19 7,389 4,705 313 209 745 233 1,184 262 147 11 10 29 12 53
Aug. 20 5,192 2,766 258 0 1,036 253 879 187 97 9 1 37 9 34
* Data through August 20.

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* 4,762 2,797 657 597 559 102 49 422 241 57 57 53 10 4
Monthly average
2014-Mar. 4,496 2,667 762 390 475 118 85 413 238 70 40 47 12 6
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.* 4,495 2,939 444 526 511 64 11 408 264 42 48 47 6 1
Weekly (Friday) average
July 25 4,658 2,989 517 636 479 29 7 426 258 48 69 48 3 1
Aug. 1 5,123 3,405 321 655 646 85 10 469 304 34 61 62 7 1
Aug. 8 4,559 2,829 412 677 555 81 5 409 251 41 66 44 8 0
Aug. 15 4,217 2,984 405 397 357 53 20 377 266 34 35 35 5 2
Aug. 22* 4,452 2,900 638 407 450 51 5 423 270 62 34 49 6 1
Daily
Aug. 14 3,624 2,755 237 462 139 11 20 302 232 17 31 18 2 2
Aug. 15 4,994 3,330 200 613 837 12 3 441 302 13 47 75 2 2
Aug. 18 4,274 3,056 467 288 407 50 5 426 287 51 32 49 6 1
Aug. 19 4,243 2,724 614 471 382 51 0 377 246 52 33 39 7 0
Aug. 20 4,838 2,919 833 462 562 52 10 465 277 84 38 58 6 2
* Data through August 20.

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* 2,834 1,981 157 37 70 104 486 127 87 6 2 4 4 25
Monthly average
2014-Mar. 1,979 1,421 85 22 67 87 298 87 57 3 1 4 4 17
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.* 4,315 3,410 107 57 73 65 604 197 155 3 3 5 3 28
Weekly (Friday) average
July 25 3,445 2,326 529 39 95 48 407 169 124 16 2 4 2 20
Aug. 1 4,043 2,417 149 37 168 63 1,210 157 100 6 3 6 4 39
Aug. 8 4,245 3,468 157 75 91 4 451 186 147 5 3 4 1 26
Aug. 15 3,606 2,941 67 64 68 122 343 195 159 2 3 4 4 21
Aug. 22* 4,776 4,013 127 36 49 89 461 212 169 4 2 7 3 27
Daily
Aug. 14 4,115 3,366 155 102 90 45 356 222 188 5 4 4 1 20
Aug. 15 4,402 3,814 0 107 0 197 285 221 173 0 8 0 7 33
Aug. 18 3,909 3,204 125 74 30 202 275 172 135 3 3 12 5 14
Aug. 19 5,272 4,605 87 25 9 4 542 230 179 4 1 3 2 41
Aug. 20 5,145 4,230 170 8 109 62 566 234 193 5 1 5 3 27
* Data through August 20.

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* 9,501 5,100 746 260 1,636 466 1,293 382 212 34 10 60 19 47
Monthly average
2014-Mar. 10,032 5,438 606 233 1,671 533 1,551 396 222 31 10 60 20 52
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.* 9,491 4,571 753 347 1,812 391 1,618 409 206 38 12 70 17 65
Weekly (Friday) average
July 25 7,631 3,822 917 121 1,668 265 838 328 176 40 4 59 14 35
Aug. 1 7,888 4,436 722 585 1,222 301 622 327 194 35 16 43 13 26
Aug. 8 9,221 4,299 793 266 1,511 381 1,970 400 198 41 10 56 19 77
Aug. 15 9,340 4,778 788 397 1,821 400 1,156 404 212 38 14 74 16 51
Aug. 22* 10,255 4,639 599 261 2,432 424 1,900 432 209 31 9 91 18 74
Daily
Aug. 14 9,157 4,745 733 671 2,245 134 630 390 205 40 20 92 5 28
Aug. 15 10,410 4,403 865 293 3,495 375 978 449 199 40 10 130 18 52
Aug. 18 11,165 5,006 508 284 2,170 796 2,400 444 213 27 11 79 32 82
Aug. 19 9,612 4,659 342 124 2,185 205 2,096 419 214 24 4 84 11 82
Aug. 20 9,988 4,252 946 376 2,940 271 1,203 433 200 42 11 111 12 57
* Data through August 20.

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* 77,964 50,832 8,705 2,959 6,345 2,445 6,678 3,374 2,064 360 187 336 126 301
Monthly average
2014-Mar. 75,388 49,878 7,304 2,740 5,377 2,629 7,461 3,263 2,025 331 172 286 131 318
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.* 82,963 53,119 10,703 2,837 6,750 2,539 7,014 3,479 2,115 389 178 349 130 319
Weekly (Friday) average
July 25 79,098 53,996 10,188 2,504 5,667 1,880 4,864 3,400 2,178 403 176 318 95 231
Aug. 1 79,523 52,396 9,577 3,042 6,808 1,942 5,756 3,333 2,102 356 183 344 106 243
Aug. 8 83,654 53,950 11,023 2,837 6,002 2,211 7,631 3,478 2,133 390 194 317 112 332
Aug. 15 77,089 49,699 9,902 2,891 6,642 2,229 5,727 3,338 2,040 372 180 347 115 285
Aug. 22* 87,851 55,978 11,729 2,358 7,121 3,271 7,394 3,620 2,188 433 131 358 172 339
Daily
Aug. 14 66,086 41,820 6,525 3,848 6,815 1,839 5,239 2,997 1,780 287 213 351 87 279
Aug. 15 80,584 51,705 7,331 3,702 9,541 2,680 5,625 3,570 2,075 306 229 518 140 302
Aug. 18 91,993 58,744 12,103 2,769 7,322 3,333 7,722 3,729 2,283 406 163 353 180 344
Aug. 19 85,737 54,615 11,916 1,731 6,700 2,931 7,844 3,549 2,129 419 102 359 176 364
Aug. 20 85,824 54,574 11,166 2,575 7,342 3,550 6,617 3,581 2,151 474 127 361 160 308
* Data through August 20.

Footnotes

1. Millions of dollars.

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Last update: August 21, 2014