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 November 26, 2014Posted November 28, 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* 4,861 2,801 721 249 442 307 341 186 105 24 11 19 12 16
Monthly average
2014-June 7,087 5,047 906 278 276 143 437 255 181 28 10 13 6 16
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.* 6,172 3,921 822 299 544 285 301 223 136 27 12 22 13 14
Weekly (Friday) average
Oct. 31 3,934 2,318 565 229 359 201 263 142 87 16 10 12 7 10
Nov. 7 7,503 4,741 1,290 160 647 439 226 275 167 42 7 27 19 13
Nov. 14 4,210 2,606 411 187 431 188 387 150 91 13 6 18 8 15
Nov. 21 7,506 5,316 312 574 657 317 330 262 175 9 22 26 14 16
Nov. 28* 4,349 1,982 1,440 224 335 104 265 169 78 51 9 12 7 12
Daily
Nov. 21 9,506 7,663 40 578 903 322 0 309 253 1 14 32 9 0
Nov. 24 5,587 4,334 311 245 696 0 0 215 170 14 15 16 0 0
Nov. 25 3,099 1,411 856 407 26 29 370 128 61 25 10 8 4 20
Nov. 26 4,361 200 3,152 18 283 283 425 164 4 113 3 12 16 16
Nov. 27 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.
* Data through November 26.

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* 4,895 2,885 662 620 564 112 51 429 247 58 57 53 11 4
Monthly average
2014-June 4,912 3,030 560 695 515 76 36 420 246 45 65 53 8 3
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.* 5,436 2,838 644 1,017 628 232 77 457 235 53 84 58 21 5
Weekly (Friday) average
Oct. 31 4,805 3,114 549 616 405 108 13 419 251 49 60 46 10 3
Nov. 7 5,546 3,079 551 966 719 203 28 486 264 46 92 64 18 2
Nov. 14 5,552 3,132 721 866 654 116 64 440 248 48 64 60 13 8
Nov. 21 5,765 2,938 396 1,218 726 335 151 475 242 30 96 69 31 7
Nov. 28* 4,552 1,877 1,111 968 280 266 50 400 160 113 76 27 18 5
Daily
Nov. 21 5,150 2,919 105 1,075 648 278 126 455 260 13 87 62 25 8
Nov. 24 4,846 2,697 534 968 235 276 137 417 236 46 69 29 24 13
Nov. 25 5,526 2,265 1,286 1,299 464 211 0 442 176 109 112 37 8 0
Nov. 26 3,283 668 1,514 637 141 311 12 340 68 183 48 16 23 2
Nov. 27 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.
* Data through November 26.

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* 3,169 2,355 155 34 68 105 453 142 103 5 2 4 4 23
Monthly average
2014-June 2,857 2,011 195 40 94 102 415 120 83 6 1 5 3 21
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.* 1,542 884 38 21 63 126 410 85 51 1 1 3 6 23
Weekly (Friday) average
Oct. 31 5,158 4,626 55 4 41 79 354 234 205 2 1 2 3 20
Nov. 7 2,413 1,561 50 67 148 115 472 120 84 2 3 5 5 23
Nov. 14 1,120 571 25 0 1 146 377 56 28 1 0 1 5 22
Nov. 21 1,258 668 10 0 57 114 408 75 42 1 0 3 5 24
Nov. 28* 1,125 531 82 4 17 136 355 81 42 3 1 2 9 25
Daily
Nov. 21 1,120 631 2 1 195 219 73 68 41 1 1 8 7 10
Nov. 24 1,095 677 0 2 0 102 314 87 48 0 1 0 11 27
Nov. 25 1,246 569 110 0 24 184 360 84 44 3 0 2 10 25
Nov. 26 1,034 348 135 12 26 122 390 71 33 6 1 4 5 22
Nov. 27 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.
* Data through November 26.

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* 9,354 4,844 779 308 1,640 487 1,295 383 206 37 11 60 20 48
Monthly average
2014-June 9,692 5,259 772 460 1,709 400 1,093 382 212 35 15 62 17 41
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.* 10,826 5,287 978 472 1,604 718 1,767 438 218 45 18 59 29 69
Weekly (Friday) average
Oct. 31 8,072 4,394 658 281 1,161 585 993 334 187 34 12 41 18 42
Nov. 7 10,889 5,352 701 298 1,585 1,018 1,935 456 222 35 14 58 40 86
Nov. 14 11,230 5,354 1,009 414 1,428 709 2,316 460 224 45 16 62 30 84
Nov. 21 11,330 5,603 713 697 2,245 495 1,577 438 230 32 24 74 19 59
Nov. 28* 9,344 4,563 1,837 463 802 605 1,074 375 184 82 18 32 25 35
Daily
Nov. 21 14,153 6,084 814 2,073 3,127 1,087 969 491 246 26 64 70 36 49
Nov. 24 9,518 5,792 633 488 352 753 1,499 375 227 37 20 15 30 46
Nov. 25 9,943 5,271 1,095 323 1,210 699 1,346 394 217 49 17 48 20 43
Nov. 26 8,572 2,627 3,784 579 844 362 376 357 109 159 16 32 24 17
Nov. 27 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.
* Data through November 26.

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* 80,323 52,669 8,840 3,197 6,387 2,559 6,672 3,454 2,120 370 195 337 130 301
Monthly average
2014-June 82,510 56,384 8,557 3,524 6,611 1,897 5,537 3,458 2,210 353 202 337 102 254
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.* 95,153 63,995 9,678 4,630 6,113 3,488 7,249 3,933 2,419 408 268 333 171 335
Weekly (Friday) average
Oct. 31 78,706 54,048 7,773 3,506 4,907 2,651 5,822 3,369 2,167 336 212 285 120 249
Nov. 7 95,268 64,473 8,351 3,979 7,100 4,283 7,083 3,990 2,463 339 267 381 188 352
Nov. 14 96,700 64,948 10,952 3,917 6,036 3,046 7,801 3,907 2,377 446 223 358 154 349
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* 86,283 52,783 15,242 3,847 4,353 2,609 7,448 3,616 2,016 687 240 215 142 316
Daily
Nov. 21 106,140 73,927 4,083 11,134 7,438 3,992 5,566 4,221 2,812 149 470 313 196 281
Nov. 24 93,242 63,135 12,747 3,593 4,418 2,975 6,373 3,911 2,494 511 209 205 167 325
Nov. 25 88,288 54,096 11,521 5,138 5,120 2,639 9,775 3,767 2,114 539 340 270 128 376
Nov. 26 77,319 41,117 21,459 2,811 3,523 2,213 6,196 3,170 1,440 1,012 170 171 131 246
Nov. 27 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.
* Data through November 26.

Footnotes

1. Millions of dollars.

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Last update: November 28, 2014