Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download FRED

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of January 9, 2026Posted January 12, 2026

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
2024 3,646 2,214 709 291 232 141 59 129 77 22 11 9 6 4
2025 4,343 2,408 790 382 403 220 140 155 83 25 16 17 9 6
2026* 5,547 3,376 1,116 276 598 181 0 178 102 33 14 18 10 0
Monthly average
2025-Aug. 4,300 2,103 1,441 475 164 84 33 165 86 47 20 7 4 1
Sept. 5,470 3,198 824 610 422 231 185 218 128 30 25 17 10 8
Oct. 4,506 2,483 999 423 340 150 110 180 103 35 18 14 5 5
Nov. 4,818 2,592 1,065 481 542 136 2 173 85 31 22 27 9 0
Dec. 4,446 2,714 578 489 341 281 43 157 92 18 19 16 10 2
2026-Jan.* 5,547 3,376 1,116 276 598 181 0 178 102 33 14 18 10 0
Weekly (Friday) average
Dec. 12 4,596 2,987 554 450 169 337 99 158 95 20 15 11 11 7
Dec. 19 5,935 4,169 233 208 878 425 22 199 128 6 7 40 17 1
Dec. 26 1,655 1,270 155 126 56 11 38 67 56 4 5 1 0 1
Jan. 2 1,907 86 1,367 156 228 70 0 53 3 32 8 7 3 0
Jan. 9* 5,369 4,051 279 262 582 196 0 181 123 15 14 18 11 0
Daily
Jan. 5 7,650 5,371 67 500 1,712 0 0 228 164 8 11 45 0 0
Jan. 6 6,441 5,396 505 168 117 255 0 217 166 23 18 3 7 0
Jan. 7 5,990 3,988 598 246 695 462 0 217 118 27 19 22 31 0
Jan. 8 792 123 38 160 283 188 0 45 5 3 10 15 12 0
Jan. 9 5,974 5,380 185 233 104 73 0 196 160 14 14 3 5 0
* Data through January 9.
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
2024 10,068 6,639 1,251 805 782 438 154 674 410 82 65 74 35 8
2025 9,753 6,135 1,164 919 870 366 298 640 378 75 66 73 36 12
2026* 10,595 5,650 1,510 1,211 1,496 568 160 772 396 91 99 115 58 12
Monthly average
2025-Aug. 9,373 5,780 987 1,073 870 303 361 667 389 69 81 76 37 16
Sept. 9,644 5,996 1,260 939 707 634 108 681 414 83 70 60 42 13
Oct. 9,551 5,969 1,086 1,148 845 312 191 668 433 65 79 64 21 6
Nov. 9,698 5,923 1,048 1,156 752 319 500 646 403 61 74 55 38 15
Dec. 8,494 4,795 1,090 874 1,052 286 398 561 318 62 56 84 25 15
2026-Jan.* 10,595 5,650 1,510 1,211 1,496 568 160 772 396 91 99 115 58 12
Weekly (Friday) average
Dec. 12 8,970 5,438 1,057 967 1,175 269 64 612 354 63 58 102 25 9
Dec. 19 10,832 5,255 928 981 1,681 446 1,541 624 327 44 58 111 39 44
Dec. 26 4,995 2,595 1,343 537 412 80 28 369 204 76 46 29 11 2
Jan. 2 7,346 3,949 1,346 795 1,025 187 44 496 290 84 41 64 13 4
Jan. 9* 11,246 6,013 1,576 1,261 1,564 639 192 830 415 98 111 124 67 14
Daily
Jan. 5 10,387 6,273 1,247 1,364 932 343 229 666 418 64 86 67 23 8
Jan. 6 13,381 6,553 1,732 1,529 2,264 1,135 168 1,063 449 119 202 139 129 25
Jan. 7 11,433 6,475 1,725 888 1,349 732 263 818 419 118 102 98 68 13
Jan. 8 11,088 5,845 1,460 1,671 1,187 654 271 824 431 108 106 86 79 14
Jan. 9 9,939 4,920 1,716 853 2,089 332 30 778 358 82 58 232 36 12
* Data through January 9.
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
2024 4,778 4,427 189 38 64 10 50 127 116 6 1 2 0 2
2025 4,188 3,834 186 54 39 16 59 114 103 5 1 1 1 3
2026* 5,171 4,951 100 11 43 0 66 144 134 3 0 2 0 5
Monthly average
2025-Aug. 5,173 4,861 206 12 41 4 49 142 131 6 0 1 0 4
Sept. 5,152 4,645 126 72 87 73 150 149 132 4 2 4 2 5
Oct. 4,478 4,082 115 121 92 14 54 137 123 4 3 3 1 2
Nov. 4,576 4,299 88 56 29 8 96 139 128 4 1 1 0 4
Dec. 4,611 4,359 85 49 55 5 58 133 124 3 2 2 0 3
2026-Jan.* 5,171 4,951 100 11 43 0 66 144 134 3 0 2 0 5
Weekly (Friday) average
Dec. 12 5,075 4,753 67 157 55 1 41 147 136 2 4 2 0 3
Dec. 19 5,041 4,948 27 0 5 19 42 150 147 1 0 0 1 1
Dec. 26 4,787 4,499 156 0 100 0 31 136 128 5 0 2 0 1
Jan. 2 3,320 3,249 59 0 0 0 12 90 88 2 0 0 0 0
Jan. 9* 5,305 5,062 99 14 51 0 79 151 140 3 0 2 0 6
Daily
Jan. 5 4,978 4,700 100 68 110 0 0 126 117 4 2 3 0 0
Jan. 6 5,030 4,775 75 0 80 0 100 134 128 2 0 2 0 2
Jan. 7 5,810 5,193 322 0 0 0 296 175 138 8 0 0 0 29
Jan. 8 5,340 5,340 0 0 0 0 0 164 164 0 0 0 0 0
Jan. 9 5,365 5,300 0 0 65 0 0 155 152 0 0 3 0 0
* Data through January 9.
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
2024 22,542 15,680 3,545 517 713 466 1,621 660 449 96 15 24 15 60
2025 20,791 13,932 3,757 416 643 426 1,616 608 402 102 13 22 14 56
2026* 17,296 10,577 3,001 501 594 675 1,949 544 329 92 17 20 17 68
Monthly average
2025-Aug. 20,993 14,148 3,802 378 670 366 1,629 633 419 104 12 27 13 58
Sept. 21,156 14,070 3,923 449 756 404 1,553 636 419 105 15 28 15 56
Oct. 20,338 13,448 3,827 497 897 323 1,346 610 403 107 15 31 11 43
Nov. 19,565 12,046 4,014 463 488 523 2,031 587 358 111 14 17 16 72
Dec. 19,832 12,776 3,446 478 634 456 2,043 594 377 92 16 23 16 69
2026-Jan.* 17,296 10,577 3,001 501 594 675 1,949 544 329 92 17 20 17 68
Weekly (Friday) average
Dec. 12 21,742 13,570 3,119 541 838 933 2,741 634 401 83 13 29 27 81
Dec. 19 19,938 13,317 2,630 604 612 299 2,476 577 368 70 25 25 9 80
Dec. 26 18,090 11,820 4,153 383 765 164 806 525 357 106 10 26 4 22
Jan. 2 17,013 11,218 3,755 422 521 81 1,015 528 351 99 21 18 3 36
Jan. 9* 17,768 10,722 3,317 411 491 780 2,046 545 322 102 13 16 20 71
Daily
Jan. 5 19,385 10,884 3,417 558 752 1,524 2,251 577 339 100 16 18 34 70
Jan. 6 20,798 10,433 5,867 224 474 1,238 2,563 596 299 166 6 13 30 82
Jan. 7 17,864 10,009 3,925 425 696 510 2,299 566 293 122 16 29 12 94
Jan. 8 15,888 12,676 805 292 191 454 1,470 494 369 39 7 13 14 52
Jan. 9 14,903 9,606 2,574 559 342 174 1,647 492 310 84 22 8 10 58
* Data through January 9.
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
2024 122,433 82,773 16,602 4,734 6,418 3,107 8,798 4,617 2,777 576 273 379 185 427
2025 122,146 80,064 17,192 4,952 6,646 3,325 9,968 4,727 2,820 590 286 405 193 433
2026* 112,097 64,891 15,603 5,157 8,909 4,759 12,778 4,571 2,463 542 304 480 262 520
Monthly average
2025-Aug. 129,500 89,191 16,680 4,808 6,730 2,823 9,267 5,097 3,205 588 293 425 181 405
Sept. 122,891 80,035 16,965 5,543 7,016 3,031 10,301 5,059 3,065 629 325 404 176 462
Oct. 111,047 68,035 16,232 6,620 7,400 2,589 10,172 4,779 2,776 590 378 433 157 444
Nov. 104,655 61,154 15,975 5,999 6,578 3,785 11,165 4,507 2,490 567 346 407 229 467
Dec. 101,253 60,963 15,294 5,504 6,398 3,134 9,960 4,142 2,384 533 285 372 164 404
2026-Jan.* 112,097 64,891 15,603 5,157 8,909 4,759 12,778 4,571 2,463 542 304 480 262 520
Weekly (Friday) average
Dec. 12 113,141 69,681 14,611 5,344 7,112 4,241 12,153 4,592 2,684 541 253 428 218 469
Dec. 19 108,659 66,725 10,632 7,689 9,826 3,108 10,679 4,442 2,541 355 368 570 177 431
Dec. 26 79,930 50,272 17,305 3,688 3,545 794 4,326 3,090 1,930 572 173 182 50 183
Jan. 2 82,537 49,090 16,789 3,545 4,886 1,396 6,831 3,289 2,000 544 203 226 73 242
Jan. 9* 116,755 67,997 15,848 5,218 9,326 5,299 13,068 4,802 2,559 565 318 517 293 550
Daily
Jan. 5 115,717 66,911 13,694 4,959 10,918 5,141 14,094 4,430 2,463 458 273 460 188 588
Jan. 6 128,253 70,062 22,885 4,405 9,468 6,436 14,996 5,168 2,598 779 348 544 341 558
Jan. 7 119,632 66,650 17,635 4,423 9,885 5,832 15,207 5,033 2,544 648 303 538 386 614
Jan. 8 113,436 68,555 11,407 7,556 9,450 5,267 11,201 4,827 2,610 450 379 572 308 508
Jan. 9 106,737 67,806 13,617 4,749 6,907 3,816 9,842 4,553 2,580 489 286 471 244 483
* Data through January 9.

Footnotes

1. Millions of dollars.

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Last Update: January 12, 2026