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 27, 2016Posted July 28, 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* 6,955 4,008 1,148 351 535 517 396 274 152 39 16 25 22 20
Monthly average
2016-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 7,978 4,518 1,744 410 503 337 466 306 172 52 19 22 17 24
June 8,425 5,622 1,346 380 484 298 295 301 192 45 15 22 12 16
July* 7,089 4,219 1,160 284 411 562 453 292 161 45 15 19 26 25
Weekly (Friday) average
July 1 7,759 5,487 795 192 308 672 305 273 178 32 7 15 23 17
July 8 7,658 3,644 1,754 457 659 471 673 319 145 64 20 30 26 34
July 15 6,431 3,978 616 362 438 629 408 275 156 26 22 19 32 20
July 22 8,004 5,108 1,300 127 283 743 443 320 190 49 7 14 30 30
July 29* 6,698 5,081 377 223 343 297 378 267 184 18 12 19 15 19
Daily
July 21 3,313 1,746 618 47 443 298 162 153 78 22 3 16 12 22
July 22 6,202 1,886 3,848 100 99 169 101 249 83 128 4 10 7 17
July 25 8,618 7,283 0 118 433 143 641 323 246 0 8 20 11 38
July 26 8,503 6,386 615 270 390 603 240 323 222 24 13 25 28 11
July 27 2,974 1,575 516 281 205 146 252 156 83 30 16 13 6 8
* Data through July 27.

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* 5,473 3,125 678 723 771 140 36 502 269 62 75 80 14 2
Monthly average
2016-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 5,930 3,509 770 714 718 188 32 552 303 66 83 74 22 2
June 6,186 3,919 726 814 611 98 17 520 307 61 82 60 9 1
July* 5,939 3,443 747 809 789 96 56 531 280 65 84 89 10 3
Weekly (Friday) average
July 1 6,182 3,766 646 976 646 143 4 512 287 59 99 55 11 0
July 8 6,015 3,283 643 922 1,065 84 18 562 275 59 108 113 5 2
July 15 5,811 3,482 746 785 701 74 23 524 275 72 86 81 8 2
July 22 5,687 3,326 852 641 712 101 55 507 278 64 64 85 11 5
July 29* 6,544 3,915 866 798 671 111 183 552 308 80 63 81 15 4
Daily
July 21 5,071 2,908 1,030 396 555 80 101 449 257 71 37 66 10 8
July 22 5,277 3,200 655 958 270 146 48 494 285 61 101 35 7 5
July 25 6,403 3,896 655 638 1,027 186 0 596 327 75 50 125 19 0
July 26 6,903 3,644 1,058 1,116 510 45 530 541 293 80 89 56 12 11
July 27 6,326 4,204 883 639 477 104 20 518 305 84 51 62 15 1
* Data through July 27.

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* 12,936 11,907 243 56 94 103 533 393 339 7 2 5 5 36
Monthly average
2016-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 14,953 14,390 84 17 41 60 361 392 355 3 1 3 3 27
June 12,925 12,303 93 25 108 90 306 351 313 3 1 5 4 24
July* 11,302 10,334 351 40 76 72 429 322 270 9 2 4 3 33
Weekly (Friday) average
July 1 11,081 10,229 63 40 67 101 580 305 264 3 2 5 4 27
July 8 10,448 9,216 489 78 137 88 441 310 250 12 2 7 4 35
July 15 10,916 9,956 340 48 55 43 474 322 267 8 2 3 2 39
July 22 12,744 11,653 477 10 48 33 523 337 287 13 2 2 3 30
July 29* 9,982 9,435 69 9 38 189 242 302 255 4 2 5 6 31
Daily
July 21 12,336 11,448 108 15 150 30 585 313 273 3 2 4 3 28
July 22 11,048 10,352 25 1 50 2 619 315 257 2 1 1 1 53
July 25 9,427 8,720 50 4 64 323 266 284 232 2 2 4 8 36
July 26 9,490 8,860 140 14 20 115 340 292 239 7 2 3 5 36
July 27 11,029 10,726 15 9 30 128 120 330 294 3 1 7 5 20
* Data through July 27.

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* 11,683 6,864 1,120 302 1,289 690 1,418 417 244 42 11 47 23 49
Monthly average
2016-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 10,128 6,000 984 258 1,258 461 1,167 378 226 35 9 47 17 43
June 12,171 7,065 1,207 299 1,340 1,030 1,229 433 259 43 11 46 31 43
July* 13,214 7,759 1,149 533 1,745 835 1,194 470 276 41 17 62 25 49
Weekly (Friday) average
July 1 13,134 7,189 1,599 624 1,149 1,215 1,359 437 250 52 17 41 33 43
July 8 14,846 7,520 1,285 455 2,292 1,362 1,932 533 275 43 15 87 35 79
July 15 13,485 8,085 1,181 628 1,763 716 1,112 464 281 44 19 54 22 45
July 22 12,480 7,646 1,096 411 1,793 754 779 450 272 39 13 64 26 35
July 29* 12,322 8,076 1,025 462 1,277 641 843 458 291 39 16 49 20 43
Daily
July 21 10,792 7,330 761 265 1,491 409 537 397 268 26 9 50 20 24
July 22 13,105 7,258 1,164 263 1,817 1,603 1,001 452 263 49 12 57 39 32
July 25 12,341 8,349 242 497 1,859 650 745 491 295 25 23 79 22 47
July 26 13,158 8,174 1,900 425 1,067 399 1,194 483 298 62 12 39 15 57
July 27 11,468 7,705 934 463 904 873 589 400 280 30 14 28 24 24
* Data through July 27.

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* 78,687 49,038 8,845 3,684 6,500 3,521 7,099 3,545 2,000 405 248 391 176 325
Monthly average
2016-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 80,726 52,574 9,687 3,375 6,019 3,018 6,053 3,599 2,103 423 239 378 169 287
June 82,046 52,837 9,283 4,001 6,392 4,098 5,435 3,573 2,097 403 257 363 182 271
July* 82,499 50,438 10,603 3,988 7,078 3,988 6,404 3,673 2,007 461 251 432 198 325
Weekly (Friday) average
July 1 80,254 51,029 8,246 5,417 6,213 3,744 5,606 3,479 2,010 390 300 354 163 263
July 8 87,781 46,933 11,828 4,494 9,353 5,297 9,876 3,962 1,933 483 314 553 240 439
July 15 79,746 48,813 10,152 4,031 7,050 3,562 6,138 3,569 1,934 448 265 413 187 322
July 22 80,518 52,321 10,656 2,881 5,852 4,054 4,756 3,542 2,044 464 182 383 203 268
July 29* 83,900 56,109 9,699 3,634 5,830 3,268 5,359 3,724 2,223 453 209 366 170 303
Daily
July 21 74,289 48,346 10,144 2,499 5,280 3,102 4,919 3,272 1,900 413 162 337 154 306
July 22 77,790 49,535 11,445 3,728 5,446 4,027 3,609 3,448 1,949 495 246 310 208 240
July 25 79,004 56,666 5,624 4,511 5,926 2,472 3,806 3,637 2,239 342 245 413 149 249
July 26 86,575 56,805 12,247 3,237 5,349 2,822 6,115 3,735 2,244 518 209 310 158 296
July 27 86,120 54,857 11,228 3,156 6,215 4,509 6,157 3,801 2,185 500 174 375 203 364
* Data through July 27.

Footnotes

1. Millions of dollars.

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Last update: July 28, 2016