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 September 23, 2016Posted September 26, 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* 6,993 4,100 1,194 367 500 474 359 274 155 40 16 23 21 19
Monthly average
2016-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 6,666 3,957 1,086 273 414 521 415 275 152 42 15 19 25 23
Aug. 6,850 4,659 1,022 237 369 319 244 267 171 34 13 19 14 16
Sept.* 8,058 4,440 1,952 720 374 348 223 294 162 60 26 17 14 14
Weekly (Friday) average
Aug. 26 6,847 5,163 530 193 495 172 294 272 193 19 10 17 9 24
Sept. 2 5,336 2,948 1,341 382 422 125 116 203 102 47 18 23 6 6
Sept. 9 8,516 4,547 1,945 960 446 405 213 305 166 58 33 21 16 12
Sept. 16 7,848 4,330 1,707 1,029 186 296 300 285 157 53 37 7 13 18
Sept. 23* 8,472 5,091 2,025 296 439 473 148 310 189 60 13 19 17 13
Daily
Sept. 19 9,872 7,503 1,088 322 294 345 320 383 283 30 14 9 18 29
Sept. 20 9,918 7,352 664 746 578 402 176 388 253 28 37 28 23 19
Sept. 21 7,546 3,741 1,556 5 794 1,366 85 278 148 60 1 28 31 10
Sept. 22 5,838 2,533 2,428 358 368 100 50 195 91 66 12 21 4 1
Sept. 23 9,184 4,326 4,386 50 160 150 111 308 168 118 1 7 7 7
* Data through September 23.

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* 5,553 3,245 702 687 747 139 33 504 276 64 71 77 14 2
Monthly average
2016-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 5,946 3,506 737 801 760 91 52 530 287 64 83 85 9 3
Aug. 5,790 3,632 792 535 700 109 24 508 298 69 57 69 13 2
Sept.* 5,876 3,662 800 581 635 178 21 509 298 70 59 62 18 2
Weekly (Friday) average
Aug. 26 5,485 3,436 725 405 742 114 63 486 289 61 43 77 13 3
Sept. 2 5,005 2,927 859 515 588 115 0 451 251 73 56 59 12 0
Sept. 9 6,284 3,963 646 544 812 297 22 542 315 50 64 81 31 1
Sept. 16 5,852 3,603 700 791 525 207 25 497 290 65 69 51 18 4
Sept. 23* 5,722 3,752 901 337 617 90 26 501 310 81 36 61 11 2
Daily
Sept. 19 6,387 4,154 750 332 1,134 18 0 520 300 66 37 115 2 0
Sept. 20 5,822 3,828 602 649 581 141 20 480 312 65 50 39 12 2
Sept. 21 4,961 3,642 719 202 259 129 10 479 317 80 31 32 17 2
Sept. 22 5,663 3,395 1,318 208 608 35 100 491 287 100 30 66 1 7
Sept. 23 5,779 3,739 1,114 293 505 129 0 535 335 96 31 52 21 0
* Data through September 23.

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* 12,360 11,389 233 53 90 100 495 375 322 7 2 5 5 35
Monthly average
2016-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 10,768 9,863 317 36 71 66 415 309 258 9 2 4 3 33
Aug. 10,603 9,753 307 57 80 76 331 317 267 8 3 4 5 31
Sept.* 10,503 9,795 68 33 78 119 410 316 265 2 2 5 5 37
Weekly (Friday) average
Aug. 26 10,829 10,241 169 73 7 98 240 332 290 6 4 1 5 26
Sept. 2 8,470 7,816 37 55 104 103 354 263 207 3 4 4 7 38
Sept. 9 9,413 8,714 69 39 48 82 461 293 246 3 3 4 3 34
Sept. 16 10,718 10,064 90 23 74 59 409 332 267 2 1 6 4 50
Sept. 23* 11,454 10,743 59 12 93 196 349 322 286 2 1 6 6 22
Daily
Sept. 19 11,116 9,927 100 7 263 210 609 316 267 2 1 11 5 30
Sept. 20 11,818 11,281 135 55 114 177 56 333 293 4 2 7 6 21
Sept. 21 12,650 11,914 38 0 14 400 283 350 318 1 0 3 8 20
Sept. 22 11,347 10,745 12 0 52 142 396 317 287 1 0 3 10 16
Sept. 23 10,336 9,848 10 0 23 53 403 295 263 2 0 4 2 24
* Data through September 23.

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* 12,154 7,269 1,117 339 1,290 640 1,500 432 256 42 12 47 22 53
Monthly average
2016-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 13,184 7,755 1,130 537 1,773 795 1,194 469 276 40 17 62 24 50
Aug. 12,862 8,001 911 410 1,395 448 1,697 462 283 36 13 50 18 61
Sept.* 15,280 9,801 1,411 537 1,051 493 1,986 521 324 49 18 38 16 77
Weekly (Friday) average
Aug. 26 12,947 8,301 1,082 450 1,421 328 1,365 452 292 40 14 46 11 49
Sept. 2 13,958 8,718 1,194 633 955 681 1,778 474 299 42 22 31 20 60
Sept. 9 15,477 9,715 1,742 508 1,110 311 2,091 543 322 63 14 37 11 95
Sept. 16 15,021 10,003 1,252 429 1,040 584 1,713 504 324 43 14 38 18 67
Sept. 23* 15,503 10,002 1,150 561 1,042 596 2,152 533 337 41 21 41 18 75
Daily
Sept. 19 15,960 10,049 1,378 325 1,653 658 1,898 535 335 36 13 54 26 71
Sept. 20 17,945 10,450 1,235 388 1,814 496 3,561 610 341 63 15 66 18 107
Sept. 21 12,976 9,830 938 709 349 276 875 470 342 29 22 25 9 43
Sept. 22 15,582 10,119 1,233 244 611 362 3,014 542 353 46 10 27 11 95
Sept. 23 15,050 9,562 964 1,139 784 1,188 1,413 510 314 31 45 32 27 61
* Data through September 23.

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* 79,772 50,038 9,260 3,730 6,454 3,386 6,903 3,570 2,020 416 244 386 173 330
Monthly average
2016-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 81,971 50,427 10,241 4,024 7,149 3,941 6,190 3,650 2,009 450 253 427 194 318
Aug. 81,055 52,048 10,157 3,366 6,418 2,865 6,200 3,619 2,069 436 210 390 167 346
Sept.* 88,014 56,113 11,993 4,594 5,923 2,911 6,480 3,731 2,133 489 262 339 153 355
Weekly (Friday) average
Aug. 26 79,502 53,647 8,865 3,446 6,239 2,150 5,154 3,584 2,172 399 203 372 139 299
Sept. 2 77,090 49,353 10,597 3,988 5,464 2,404 5,284 3,407 1,928 457 248 343 123 308
Sept. 9 90,958 55,099 15,448 4,450 6,363 2,350 7,247 3,879 2,108 582 283 380 143 384
Sept. 16 85,580 56,320 10,514 4,440 5,446 2,668 6,192 3,682 2,143 440 254 293 153 398
Sept. 23* 92,133 60,066 10,486 4,796 6,369 3,981 6,434 3,785 2,257 452 239 358 177 301
Daily
Sept. 19 86,066 59,174 7,495 3,258 6,863 2,806 6,469 3,616 2,282 326 191 377 144 296
Sept. 20 106,818 66,088 15,782 5,370 8,733 3,658 7,188 4,159 2,377 574 239 455 179 335
Sept. 21 90,972 63,849 8,307 4,222 5,140 4,623 4,831 3,775 2,335 456 217 318 175 274
Sept. 22 90,563 54,484 10,548 5,937 6,561 5,024 8,009 3,770 2,104 457 305 358 223 323
Sept. 23 86,245 56,735 10,298 5,196 4,549 3,795 5,671 3,607 2,188 447 245 284 166 277
* Data through September 23.

Footnotes

1. Millions of dollars.

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Last update: September 26, 2016