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 March 19, 2026Posted March 20, 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* 5,078 2,311 1,486 596 362 203 120 165 75 41 23 14 8 4
Monthly average
2025-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. 4,824 2,339 1,269 567 413 161 75 158 76 36 23 14 7 2
Feb. 4,618 2,327 1,270 457 321 145 99 152 76 36 18 13 6 3
Mar.* 6,063 2,252 2,087 826 345 340 214 193 72 55 29 14 14 8
Weekly (Friday) average
Feb. 20 4,438 1,754 1,624 546 179 290 46 144 62 42 20 10 10 1
Feb. 27 4,851 2,849 991 570 249 192 0 161 88 34 24 8 8 0
Mar. 6 5,932 2,254 1,672 1,091 419 286 210 202 83 45 36 15 13 9
Mar. 13 5,296 1,766 2,388 602 309 137 93 160 54 62 24 10 6 3
Mar. 20* 7,187 2,855 2,228 776 296 662 369 223 80 60 28 16 24 13
Daily
Mar. 13 4,953 2,520 1,520 487 213 113 100 160 76 42 24 9 7 2
Mar. 16 11,493 7,288 1,546 1,150 386 554 569 344 197 45 40 20 21 21
Mar. 17 9,204 2,970 4,127 362 479 967 300 296 91 109 27 30 33 6
Mar. 18 4,723 48 1,879 1,142 260 1,012 382 153 6 50 37 11 39 10
Mar. 19 3,326 1,114 1,362 450 60 114 226 98 28 36 10 3 5 16
* Data through March 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
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* 13,151 8,140 1,463 1,472 1,333 299 444 881 523 95 108 107 30 19
Monthly average
2025-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. 11,891 7,072 1,415 1,415 1,354 314 321 847 493 93 102 106 36 17
Feb. 14,259 8,922 1,446 1,705 1,363 316 506 958 581 87 130 110 28 22
Mar.* 13,446 8,603 1,554 1,237 1,262 255 536 826 487 108 85 103 25 18
Weekly (Friday) average
Feb. 20 14,849 9,736 1,348 1,687 1,697 327 55 982 617 85 124 118 35 3
Feb. 27 15,110 10,173 1,488 1,508 1,514 340 86 1,010 639 86 114 135 25 11
Mar. 6 13,045 8,700 1,718 1,092 1,168 255 112 854 550 107 79 84 24 10
Mar. 13 13,272 8,115 1,128 1,171 1,276 289 1,293 788 448 97 74 106 32 31
Mar. 20* 14,166 9,092 1,882 1,499 1,361 214 120 838 458 122 106 124 18 11
Daily
Mar. 13 13,162 8,149 950 1,738 1,881 418 26 694 428 50 98 85 27 6
Mar. 16 14,278 9,871 1,030 2,040 1,093 237 8 858 485 63 179 112 17 2
Mar. 17 14,953 9,219 2,656 1,590 1,251 137 100 810 485 154 78 72 14 7
Mar. 18 12,681 8,753 1,654 484 1,496 206 88 783 432 160 34 133 11 13
Mar. 19 14,753 8,524 2,189 1,882 1,602 273 283 901 430 110 132 180 28 21
* Data through March 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
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* 4,639 4,464 46 54 20 9 47 133 127 1 1 1 0 3
Monthly average
2025-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. 4,974 4,808 50 49 23 13 32 141 135 1 1 1 0 2
Feb. 4,445 4,266 54 56 21 4 44 128 122 1 1 1 0 3
Mar.* 4,425 4,241 29 58 13 11 74 128 122 1 1 0 0 4
Weekly (Friday) average
Feb. 20 4,453 4,364 34 2 48 5 0 133 130 1 0 1 0 0
Feb. 27 4,257 4,071 27 100 1 0 57 121 115 1 2 0 0 3
Mar. 6 4,425 4,292 27 0 30 5 71 127 124 1 0 1 0 2
Mar. 13 4,492 4,259 27 132 6 10 57 126 119 1 3 0 0 3
Mar. 20* 4,343 4,155 34 38 0 19 97 132 123 1 1 0 0 7
Daily
Mar. 13 4,269 4,269 0 0 0 0 0 121 121 0 0 0 0 0
Mar. 16 3,997 3,810 0 50 0 0 137 112 104 0 1 0 0 7
Mar. 17 4,499 4,348 0 0 0 25 126 146 129 0 0 0 1 16
Mar. 18 4,312 4,062 135 0 0 50 65 126 119 4 0 0 1 2
Mar. 19 4,563 4,401 0 100 0 0 62 145 141 0 2 0 0 2
* Data through March 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
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* 18,338 11,167 3,983 414 536 468 1,770 545 325 112 13 19 16 59
Monthly average
2025-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. 17,331 10,650 3,505 497 587 590 1,502 532 321 105 16 21 19 50
Feb. 19,031 11,477 4,352 369 434 428 1,972 564 332 120 12 17 16 67
Mar.* 18,837 11,484 4,167 356 603 349 1,879 537 322 111 9 20 10 63
Weekly (Friday) average
Feb. 20 20,205 11,841 4,610 350 446 417 2,541 612 340 131 12 27 18 84
Feb. 27 18,699 11,546 4,725 351 374 289 1,413 549 343 125 12 17 8 44
Mar. 6 18,228 11,569 4,073 383 518 417 1,268 525 326 109 10 18 12 51
Mar. 13 19,402 11,452 4,794 249 837 213 1,857 540 320 126 7 24 7 56
Mar. 20* 18,892 11,418 3,500 455 417 432 2,670 548 321 95 12 20 12 88
Daily
Mar. 13 17,320 10,853 4,185 100 295 93 1,793 487 285 129 2 9 2 60
Mar. 16 18,288 10,650 2,833 400 752 140 3,512 551 315 73 14 48 4 97
Mar. 17 20,670 10,652 5,825 575 294 707 2,617 609 306 149 13 10 23 108
Mar. 18 16,841 10,020 3,310 605 393 477 2,035 521 306 102 14 12 10 77
Mar. 19 19,770 14,349 2,031 240 230 406 2,514 512 358 55 8 8 11 72
* Data through March 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
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* 116,065 70,129 18,503 5,588 6,897 3,396 11,551 4,774 2,687 653 333 424 181 496
Monthly average
2025-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. 115,837 70,272 17,156 5,360 7,457 4,117 11,476 4,789 2,706 607 326 450 217 484
Feb. 115,907 69,987 18,572 5,789 6,371 3,058 12,131 4,850 2,740 637 359 417 162 536
Mar.* 116,605 70,118 20,335 5,642 6,812 2,826 10,871 4,647 2,588 739 307 395 157 460
Weekly (Friday) average
Feb. 20 117,644 69,054 20,161 6,548 6,712 2,622 12,547 5,037 2,759 724 396 432 146 580
Feb. 27 117,529 71,902 19,079 6,268 6,683 2,755 10,842 4,911 2,836 643 351 467 138 476
Mar. 6 112,318 68,340 19,350 5,380 7,146 2,386 9,718 4,707 2,704 715 297 388 163 440
Mar. 13 116,321 69,586 20,865 5,564 6,912 2,017 11,376 4,452 2,464 737 279 365 125 482
Mar. 20* 122,319 73,006 20,906 6,069 6,269 4,386 11,682 4,814 2,597 771 356 442 191 457
Daily
Mar. 13 112,301 67,474 18,960 6,351 7,868 2,236 9,413 4,342 2,376 618 333 382 150 483
Mar. 16 116,014 72,495 14,718 6,590 5,591 3,556 13,064 4,570 2,621 494 389 437 160 469
Mar. 17 128,237 72,434 27,376 5,553 6,779 5,549 10,547 5,037 2,617 977 360 436 239 408
Mar. 18 121,520 71,765 22,180 5,223 5,811 5,312 11,228 4,724 2,533 830 299 377 226 459
Mar. 19 123,503 75,330 19,352 6,908 6,897 3,126 11,890 4,925 2,617 784 374 517 140 493
* Data through March 19.

Footnotes

1. Millions of dollars.

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Last Update: March 20, 2026