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 1, 2015Posted July 2, 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* 5,099 3,170 732 377 433 175 212 193 120 23 16 18 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* 4,730 821 1,116 562 1,298 540 392 243 65 46 44 53 17 18
Weekly (Friday) average
June 5 8,151 6,273 983 593 149 88 64 278 200 37 27 7 4 3
June 12 6,482 4,862 719 608 148 77 68 235 179 19 22 5 5 3
June 19 7,082 4,402 1,569 843 31 120 117 230 147 42 29 1 5 5
June 26 5,723 4,549 851 108 35 127 54 193 153 23 6 2 6 3
July 3* 3,105 971 624 191 844 212 263 155 60 26 15 34 7 13
Daily
June 25 3,923 3,644 201 37 35 0 5 153 140 6 3 1 0 3
June 26 3,804 3,310 0 447 40 7 0 151 123 0 25 2 1 0
June 29 1,929 1,083 21 10 695 76 45 99 54 3 2 28 3 9
June 30 2,657 1,009 735 0 540 20 353 122 61 28 0 20 1 12
July 1 4,730 821 1,116 562 1,298 540 392 243 65 46 44 53 17 18
* Data through July 1.

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* 5,397 2,993 721 684 769 176 55 476 244 61 72 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* 5,667 2,142 873 695 1,751 154 52 461 144 69 55 160 23 10
Weekly (Friday) average
June 5 4,789 2,608 572 610 691 181 126 397 191 48 65 67 15 12
June 12 4,340 2,280 553 689 649 149 20 392 175 46 62 92 14 3
June 19 4,904 2,843 440 420 806 386 9 409 210 40 48 82 28 1
June 26 4,641 2,770 569 404 699 191 8 392 217 48 49 60 17 1
July 3* 4,294 2,364 617 392 821 83 17 377 176 58 47 84 9 3
Daily
June 25 4,284 2,619 399 406 766 95 0 375 210 33 43 73 16 0
June 26 4,928 3,327 285 741 472 103 0 414 257 27 90 30 10 0
June 29 3,875 2,784 591 99 327 75 0 354 215 75 18 44 2 0
June 30 3,340 2,167 386 380 387 20 0 315 168 31 67 47 2 0
July 1 5,667 2,142 873 695 1,751 154 52 461 144 69 55 160 23 10
* Data through July 1.

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* 1,100 458 127 26 70 91 328 63 31 5 2 4 4 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* 2,181 701 337 0 85 166 893 85 26 9 0 3 6 41
Weekly (Friday) average
June 5 1,244 670 109 33 80 77 275 64 36 3 1 7 5 13
June 12 1,160 477 69 5 106 62 441 65 32 2 1 5 3 23
June 19 1,032 437 11 31 198 132 223 61 31 1 1 10 5 14
June 26 1,511 648 0 2 195 174 492 79 37 0 0 10 6 26
July 3* 1,637 772 152 3 66 124 520 86 44 4 1 3 4 30
Daily
June 25 1,137 699 0 0 30 151 257 68 41 0 0 1 5 21
June 26 1,705 889 2 9 178 116 511 82 45 1 1 6 5 24
June 29 1,157 864 0 1 98 95 99 101 68 0 2 5 2 24
June 30 1,572 751 118 8 16 110 569 71 37 4 1 2 3 24
July 1 2,181 701 337 0 85 166 893 85 26 9 0 3 6 41
* Data through July 1.

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* 10,241 5,641 936 367 1,527 570 1,201 397 227 39 14 52 21 43
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* 13,423 6,484 2,496 448 1,302 1,003 1,691 514 261 84 13 40 52 64
Weekly (Friday) average
June 5 13,780 7,885 1,499 573 1,317 527 1,979 486 281 55 22 45 21 62
June 12 15,213 10,256 1,617 451 1,066 552 1,271 483 316 56 15 31 18 46
June 19 13,731 8,140 1,946 329 1,443 827 1,045 465 277 73 12 46 26 31
June 26 13,567 7,224 1,633 546 1,994 611 1,558 476 254 58 25 68 21 49
July 3* 13,511 7,881 1,853 316 1,711 690 1,059 497 292 63 11 51 36 44
Daily
June 25 13,072 7,168 1,391 464 2,320 397 1,332 478 257 52 26 78 15 50
June 26 16,816 8,164 964 1,122 2,176 873 3,516 565 272 47 45 81 35 85
June 29 13,603 8,738 1,570 166 1,985 283 861 498 311 55 9 63 21 39
June 30 13,507 8,422 1,493 335 1,844 785 626 478 304 49 12 51 34 28
July 1 13,423 6,484 2,496 448 1,302 1,003 1,691 514 261 84 13 40 52 64
* Data through July 1.

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* 79,804 50,929 8,807 3,675 6,567 2,945 6,881 3,415 1,999 367 241 369 148 291
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* 82,304 39,511 13,036 4,554 10,706 4,137 10,359 3,558 1,505 570 272 558 217 436
Weekly (Friday) average
June 5 90,690 58,904 9,361 4,109 6,313 2,850 9,154 3,597 2,118 373 261 340 155 350
June 12 83,000 54,534 9,891 3,872 5,545 2,476 6,682 3,326 1,991 356 232 344 126 276
June 19 86,305 54,189 11,077 3,837 6,217 4,313 6,672 3,459 2,018 427 222 349 179 263
June 26 80,119 52,372 8,261 3,270 6,115 3,258 6,843 3,334 2,023 342 219 333 152 266
July 3* 69,557 39,379 8,300 2,729 7,668 4,048 7,432 3,100 1,585 397 189 386 191 352
Daily
June 25 77,680 50,994 7,530 3,742 6,862 2,699 5,853 3,327 2,007 327 214 384 148 247
June 26 81,037 54,882 3,602 5,672 5,454 2,741 8,686 3,332 2,127 150 367 262 139 287
June 29 75,620 50,513 6,674 1,524 6,473 3,491 6,944 3,366 2,026 338 135 301 170 396
June 30 50,746 28,113 5,190 2,109 5,825 4,515 4,994 2,376 1,223 284 161 298 187 223
July 1 82,304 39,511 13,036 4,554 10,706 4,137 10,359 3,558 1,505 570 272 558 217 436
* Data through July 1.

Footnotes

1. Millions of dollars.

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Last update: July 2, 2015