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 December 19, 2014Posted December 22, 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* 4,977 2,908 738 256 436 300 339 191 109 25 11 18 12 15
Monthly average
2014-July 5,863 3,660 702 271 453 383 394 224 135 26 12 20 15 17
Aug. 6,074 3,321 1,083 243 557 414 456 212 112 32 10 23 17 19
Sept. 6,742 4,239 1,135 277 475 271 347 238 149 36 11 17 10 15
Oct. 4,366 2,397 946 232 448 172 172 169 95 31 10 18 7 9
Nov. 5,845 3,714 781 283 514 269 285 211 129 26 11 21 12 13
Dec.* 7,054 4,721 1,033 375 368 215 342 272 178 37 15 17 10 14
Weekly (Friday) average
Nov. 21 7,506 5,316 312 574 657 317 330 262 175 9 22 26 14 16
Nov. 28 3,330 1,536 1,098 168 251 78 199 128 60 38 7 9 5 9
Dec. 5 7,181 4,504 1,295 477 679 73 154 286 173 51 20 30 5 7
Dec. 12 7,307 4,824 932 382 231 312 626 270 169 33 17 11 16 24
Dec. 19* 6,674 4,834 873 265 196 259 247 261 192 29 9 9 10 13
Daily
Dec. 15 8,716 6,175 1,317 436 600 20 168 317 234 43 12 18 1 9
Dec. 16 10,746 8,559 784 154 270 746 234 401 319 26 6 11 32 7
Dec. 17 5,050 3,746 552 184 55 265 248 221 171 16 6 3 11 14
Dec. 18 5,274 3,088 1,089 347 54 159 537 211 115 42 9 11 4 30
Dec. 19 3,585 2,602 623 204 0 105 50 154 120 16 11 0 4 3
* Data through December 19.

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* 4,922 2,898 650 622 577 119 56 431 247 57 57 54 11 4
Monthly average
2014-July 4,988 3,045 542 660 659 57 25 437 259 48 64 59 5 2
Aug. 4,585 3,015 491 467 524 63 25 411 266 47 42 46 6 3
Sept. 5,173 3,199 712 559 547 97 59 458 279 67 48 51 8 5
Oct. 5,227 3,179 693 622 574 121 38 437 260 60 53 50 10 4
Nov. 5,184 2,728 609 961 594 220 72 436 227 50 79 55 20 5
Dec.* 5,592 3,235 503 693 809 231 122 478 262 45 67 74 23 8
Weekly (Friday) average
Nov. 21 5,765 2,938 396 1,218 726 335 151 475 242 30 96 69 31 7
Nov. 28 3,635 1,622 833 728 211 202 37 322 141 84 58 21 14 4
Dec. 5 5,657 2,794 632 1,021 772 289 150 501 250 56 92 62 30 10
Dec. 12 4,767 2,831 458 529 628 221 100 418 233 40 49 69 20 6
Dec. 19* 6,351 4,079 420 528 1,026 183 116 516 302 39 61 90 18 7
Daily
Dec. 15 6,178 4,153 337 408 1,026 84 169 522 320 36 44 104 12 6
Dec. 16 6,150 3,726 456 319 969 407 274 541 295 48 47 92 44 15
Dec. 17 6,526 3,908 939 515 1,005 110 50 514 288 86 58 70 8 4
Dec. 18 6,334 4,197 228 742 987 156 25 465 280 14 73 89 8 1
Dec. 19 6,567 4,410 139 654 1,144 158 62 538 326 10 81 94 20 7
* Data through December 19.

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* 3,045 2,240 152 34 67 107 445 137 99 5 2 4 4 23
Monthly average
2014-July 3,916 2,745 390 34 89 62 596 173 123 13 1 5 3 28
Aug. 4,748 3,904 129 42 76 79 518 213 172 4 2 5 4 26
Sept. 4,469 3,690 206 39 68 119 348 173 139 7 2 3 4 18
Oct. 4,862 4,151 173 25 53 80 380 231 200 6 1 3 3 18
Nov. 1,485 857 36 19 60 123 391 83 50 1 1 3 6 22
Dec.* 1,322 622 119 25 54 146 356 72 36 5 1 3 5 21
Weekly (Friday) average
Nov. 21 1,258 668 10 0 57 114 408 75 42 1 0 3 5 24
Nov. 28 974 498 61 3 13 118 280 72 41 2 0 2 8 19
Dec. 5 1,246 558 209 0 13 134 332 75 37 11 0 1 5 21
Dec. 12 1,300 622 63 49 79 123 364 66 34 2 2 4 4 20
Dec. 19* 1,421 686 86 25 68 182 374 74 37 3 1 5 6 23
Daily
Dec. 15 1,239 702 90 0 35 200 211 74 37 3 0 9 5 20
Dec. 16 1,301 643 40 20 14 209 375 70 36 2 1 3 8 20
Dec. 17 1,500 765 300 0 89 247 100 79 37 10 0 5 9 18
Dec. 18 1,450 700 0 105 0 0 645 71 39 0 3 0 0 29
Dec. 19 1,614 618 0 2 205 253 537 78 38 0 1 6 7 26
* Data through December 19.

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* 9,434 4,910 781 305 1,634 497 1,307 384 208 36 11 60 20 49
Monthly average
2014-July 8,766 4,480 1,038 274 1,492 497 984 362 197 43 9 55 20 38
Aug. 9,132 4,375 792 344 1,724 356 1,541 394 201 39 12 68 16 59
Sept. 8,473 3,668 791 548 1,866 471 1,129 371 184 40 16 67 20 45
Oct. 8,280 4,032 828 295 1,511 536 1,077 359 183 40 12 57 21 46
Nov. 10,463 5,144 946 447 1,563 679 1,684 423 213 43 17 57 27 66
Dec.* 10,986 6,057 834 274 1,588 683 1,551 422 245 34 11 54 25 53
Weekly (Friday) average
Nov. 21 11,330 5,603 713 697 2,245 495 1,577 438 230 32 24 74 19 59
Nov. 28 8,079 4,100 1,479 352 817 457 873 325 168 66 14 30 19 29
Dec. 5 10,717 5,285 834 256 1,510 721 2,112 419 222 34 13 51 24 74
Dec. 12 11,002 6,237 810 135 1,507 794 1,520 434 259 38 5 52 30 50
Dec. 19* 11,237 6,648 857 431 1,746 535 1,020 413 255 29 16 59 21 33
Daily
Dec. 15 15,670 6,928 2,158 195 2,918 1,199 2,272 531 270 58 9 101 38 55
Dec. 16 9,567 6,206 577 139 1,774 366 506 393 247 29 7 63 28 19
Dec. 17 9,874 6,335 726 363 1,400 450 599 369 246 23 13 42 15 30
Dec. 18 10,424 6,423 464 586 1,417 333 1,202 386 241 25 18 51 12 39
Dec. 19 10,650 7,346 360 873 1,220 328 522 384 273 9 32 38 11 21
* Data through December 19.

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* 80,883 53,265 8,749 3,230 6,404 2,606 6,629 3,471 2,138 367 197 338 133 299
Monthly average
2014-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. 82,889 53,752 10,490 2,758 6,833 2,288 6,768 3,489 2,136 392 174 354 120 313
Sept. 84,330 54,910 8,930 3,715 7,316 2,746 6,714 3,604 2,210 401 198 368 131 296
Oct. 81,536 54,478 8,703 3,523 5,818 2,741 6,272 3,513 2,193 378 205 316 136 284
Nov. 91,847 61,892 9,409 4,392 5,878 3,322 6,954 3,788 2,336 395 254 318 163 321
Dec.* 92,400 64,134 7,629 3,921 6,965 3,464 6,287 3,862 2,496 325 230 360 179 272
Weekly (Friday) average
Nov. 21 99,122 69,482 6,647 6,323 6,244 3,574 6,853 4,085 2,651 279 322 334 184 317
Nov. 28 73,625 46,123 12,639 2,971 3,734 2,083 6,074 3,045 1,746 558 186 180 114 262
Dec. 5 96,037 63,727 9,328 4,790 6,709 3,567 7,916 4,037 2,472 402 300 330 197 336
Dec. 12 90,695 64,509 8,048 2,588 5,689 3,415 6,446 3,760 2,489 346 160 315 176 275
Dec. 19* 90,467 64,166 5,510 4,385 8,496 3,409 4,501 3,789 2,526 227 231 436 164 204
Daily
Dec. 15 99,040 66,272 8,098 3,476 10,597 5,011 5,588 4,000 2,636 324 169 476 177 218
Dec. 16 90,673 65,081 6,040 2,742 8,561 3,631 4,618 3,896 2,574 256 162 449 255 200
Dec. 17 90,043 63,846 5,525 3,261 9,812 4,035 3,564 3,763 2,484 251 208 449 178 193
Dec. 18 84,234 60,547 2,879 6,401 6,488 2,250 5,669 3,593 2,400 145 303 418 92 235
Dec. 19 88,344 65,085 5,007 6,046 7,023 2,119 3,064 3,692 2,537 160 315 388 119 173
* Data through December 19.

Footnotes

1. Millions of dollars.

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Last update: December 22, 2014