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 27, 2015Posted May 28, 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* 4,838 2,895 682 344 483 191 242 187 113 22 15 20 8 10
Monthly average
2014-Dec. 5,808 3,955 919 280 269 149 236 227 152 34 13 12 7 10
2015-Jan. 4,944 3,033 240 416 660 351 243 194 114 8 19 27 14 11
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* 6,908 4,687 1,180 272 368 161 239 240 163 34 12 15 6 10
Weekly (Friday) average
May 1 4,297 2,694 479 247 317 221 340 168 107 13 13 11 9 15
May 8 7,961 5,919 1,459 82 124 114 265 263 196 42 4 5 5 11
May 15 6,396 4,438 625 561 434 138 201 227 162 16 17 20 4 8
May 22 7,694 4,887 1,755 235 451 205 161 264 167 52 13 18 9 6
May 29* 4,986 3,166 902 157 490 28 243 190 116 28 11 20 1 14
Daily
May 21 3,878 1,709 1,240 27 702 200 0 130 67 32 4 21 6 0
May 22 7,788 1,687 5,185 750 128 0 38 261 62 158 30 8 0 3
May 25 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
May 26 6,807 4,690 1,061 206 470 55 326 238 154 34 12 20 2 16
May 27 3,164 1,643 744 107 510 0 160 142 78 22 10 20 0 12
* Data through May 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
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* 5,597 3,100 769 719 779 171 59 497 257 65 75 79 16 5
Monthly average
2014-Dec. 4,959 2,853 601 583 657 175 90 427 231 51 58 63 17 6
2015-Jan. 5,727 3,039 889 810 806 143 40 507 256 76 75 80 15 4
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* 5,459 2,956 676 747 779 212 89 455 215 63 72 79 19 7
Weekly (Friday) average
May 1 4,956 2,819 519 709 714 161 34 438 222 47 73 76 17 3
May 8 5,079 2,794 679 619 756 154 78 443 192 69 73 80 21 7
May 15 5,393 2,967 694 674 725 195 138 445 219 59 65 77 17 7
May 22 5,707 2,998 723 860 841 192 92 471 227 67 77 78 13 9
May 29* 5,597 2,855 634 897 699 488 24 446 208 64 72 64 34 2
Daily
May 21 6,207 2,470 1,144 866 1,409 93 225 501 182 103 87 107 8 14
May 22 4,288 2,367 346 1,049 407 55 65 382 214 35 90 35 3 5
May 25 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
May 26 5,614 2,877 782 1,188 607 135 26 457 208 77 91 66 12 3
May 27 5,580 2,833 487 605 791 842 22 435 209 52 54 63 56 1
* Data through May 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
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* 1,054 426 143 28 53 86 318 62 30 6 2 3 4 17
Monthly average
2014-Dec. 1,166 507 83 18 49 135 374 63 32 4 1 3 4 20
2015-Jan. 1,185 473 119 3 34 113 443 71 34 5 1 2 5 25
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* 1,087 333 166 55 151 102 281 53 22 5 2 6 5 13
Weekly (Friday) average
May 1 679 252 125 66 76 37 124 39 22 4 2 4 2 6
May 8 1,240 346 151 80 117 188 358 57 25 5 3 5 6 13
May 15 929 379 75 105 122 34 215 41 16 2 3 5 3 12
May 22 1,061 281 243 11 270 74 183 58 25 8 1 9 5 9
May 29* 1,355 358 238 3 3 162 591 70 26 6 1 1 8 28
Daily
May 21 903 209 305 0 132 4 253 49 22 9 0 4 3 11
May 22 1,038 344 2 38 300 35 319 69 39 1 2 6 10 11
May 25 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
May 26 1,252 384 150 0 0 187 531 65 26 3 0 0 10 26
May 27 1,457 331 325 7 6 138 650 74 26 9 2 2 6 29
* Data through May 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
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* 9,328 5,006 755 345 1,516 553 1,154 376 213 34 13 53 21 42
Monthly average
2014-Dec. 10,202 5,503 969 309 1,493 533 1,395 390 225 39 11 50 20 47
2015-Jan. 8,581 4,101 687 298 1,638 567 1,289 368 194 33 12 58 22 49
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* 11,338 6,778 951 375 1,548 597 1,088 408 246 39 14 51 21 38
Weekly (Friday) average
May 1 9,203 5,437 603 217 1,753 406 786 349 216 29 12 55 12 25
May 8 10,794 6,623 780 283 1,428 634 1,045 399 247 32 11 45 25 39
May 15 11,697 7,383 907 277 1,626 514 989 411 260 40 10 53 16 32
May 22 11,141 6,456 917 534 1,345 560 1,329 398 232 35 18 47 21 44
May 29* 13,487 7,376 1,633 445 2,187 1,018 828 480 266 62 16 76 28 30
Daily
May 21 10,285 5,714 657 499 889 566 1,961 371 216 23 15 38 18 61
May 22 10,422 6,579 1,166 993 472 484 728 398 240 51 32 26 12 37
May 25 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
May 26 13,920 7,376 2,166 168 2,278 1,061 870 489 263 77 8 91 23 27
May 27 13,055 7,376 1,100 721 2,096 976 786 471 270 47 25 61 34 34
* Data through May 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
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* 79,080 50,441 8,701 3,671 6,610 2,874 6,782 3,424 2,005 366 243 374 147 290
Monthly average
2014-Dec. 83,468 57,827 7,854 3,318 5,991 3,068 5,409 3,502 2,274 337 199 312 151 229
2015-Jan. 80,779 50,071 8,372 3,847 7,219 3,696 7,573 3,554 2,023 369 253 407 179 322
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* 86,214 56,836 9,456 3,356 6,576 2,864 7,126 3,442 2,042 377 220 368 148 286
Weekly (Friday) average
May 1 76,189 50,957 7,439 3,434 6,147 2,163 6,048 3,159 1,925 323 230 332 113 237
May 8 85,050 56,558 8,962 3,287 6,622 3,031 6,590 3,383 2,010 363 226 358 155 272
May 15 86,238 58,101 8,812 2,983 6,523 3,102 6,716 3,406 2,069 350 177 380 154 275
May 22 87,025 56,440 10,077 3,808 6,144 2,536 8,020 3,493 2,056 397 242 352 138 309
May 29* 94,389 59,134 13,486 3,337 7,784 3,082 7,566 3,700 2,070 516 236 408 164 305
Daily
May 21 87,800 51,291 10,926 4,437 6,360 2,266 12,521 3,500 1,866 456 297 367 102 412
May 22 80,256 52,557 10,830 4,995 4,391 1,532 5,951 3,192 1,916 418 272 261 95 230
May 25 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
May 26 97,830 60,585 15,761 3,431 6,827 2,560 8,665 3,824 2,136 566 230 400 134 358
May 27 90,948 57,683 11,210 3,243 8,742 3,604 6,466 3,576 2,005 467 242 416 194 252
* Data through May 27.

Footnotes

1. Millions of dollars.

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Last update: May 28, 2015