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 May 20, 2026Posted May 21, 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* 5,128 2,144 1,643 649 324 251 118 165 68 45 24 13 10 4
Monthly average
2025-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. 5,888 2,113 1,968 930 409 309 159 188 67 55 33 16 12 6
Apr. 4,898 2,066 1,624 686 178 217 127 154 63 46 25 7 9 5
May* 5,417 1,788 2,199 525 295 482 128 170 58 55 20 13 19 5
Weekly (Friday) average
Apr. 24 5,688 2,800 1,738 591 130 342 88 174 80 53 20 5 13 3
May 1 6,386 2,758 2,159 714 287 221 247 196 85 51 30 11 11 8
May 8 6,198 2,188 2,558 762 218 336 135 192 65 66 29 11 17 5
May 15 4,564 1,575 1,843 184 165 719 80 145 55 46 9 8 24 3
May 22* 3,667 1,818 729 84 486 441 109 128 66 20 5 18 17 3
Daily
May 14 1,473 25 475 212 45 716 0 53 2 11 11 5 24 0
May 15 6,947 40 6,087 100 0 720 0 182 6 152 4 0 20 0
May 18 2,701 1,488 431 164 371 20 227 104 53 15 10 16 3 7
May 19 2,979 1,884 357 10 504 124 100 103 71 9 2 13 6 2
May 20 5,321 2,081 1,400 77 585 1,179 0 178 73 37 3 24 41 0
* Data through May 20.
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* 12,541 7,678 1,496 1,377 1,283 303 403 803 447 95 101 110 32 17
Monthly average
2025-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. 13,018 8,408 1,501 1,145 1,347 238 378 792 459 99 80 116 25 14
Apr. 10,955 6,460 1,534 1,231 1,197 313 219 655 320 97 94 103 33 8
May* 12,880 7,622 1,615 1,474 1,108 358 704 777 380 99 107 116 43 32
Weekly (Friday) average
Apr. 24 12,328 7,049 1,603 1,377 1,172 323 806 721 357 112 111 94 28 20
May 1 12,136 7,613 1,767 1,302 1,258 179 18 723 379 103 86 137 17 2
May 8 13,627 7,261 1,779 1,411 930 374 1,872 786 360 109 106 91 38 83
May 15 11,607 7,442 1,431 1,272 987 421 55 727 376 97 88 99 65 2
May 22* 13,303 8,170 1,621 1,770 1,399 267 77 821 416 93 134 147 24 7
Daily
May 14 11,142 7,721 928 571 1,375 452 95 757 385 67 37 153 113 2
May 15 12,890 8,573 1,250 1,414 1,050 604 0 785 423 66 116 100 80 0
May 18 13,539 8,491 1,955 1,400 1,249 393 50 778 430 108 79 118 39 4
May 19 12,365 7,475 1,501 1,810 1,333 245 0 819 367 91 144 195 22 0
May 20 14,005 8,543 1,406 2,099 1,613 164 180 867 450 81 179 129 12 16
* Data through May 20.
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* 4,756 4,544 79 50 28 9 47 134 127 2 1 1 0 2
Monthly average
2025-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. 4,605 4,442 43 55 8 7 50 133 128 1 1 0 0 2
Apr. 4,550 4,303 94 50 38 1 63 125 117 3 1 2 0 2
May* 5,432 5,085 185 35 59 27 41 145 135 5 1 2 1 1
Weekly (Friday) average
Apr. 24 4,557 4,416 27 80 0 0 34 128 124 1 2 0 0 1
May 1 4,328 4,181 58 10 36 8 35 120 115 2 0 1 1 1
May 8 5,324 5,048 107 65 22 28 55 146 138 3 2 1 1 1
May 15 5,185 4,898 201 22 24 0 40 136 127 6 1 1 0 1
May 22* 6,040 5,525 300 0 140 67 9 153 141 7 0 4 1 1
Daily
May 14 5,380 5,250 20 110 0 0 0 140 136 1 3 0 0 0
May 15 4,220 3,770 450 0 0 0 0 112 100 12 0 0 0 0
May 18 5,919 5,550 100 0 269 0 0 145 136 2 0 7 0 0
May 19 5,590 5,450 140 0 0 0 0 150 147 3 0 0 0 0
May 20 6,611 5,575 660 0 150 200 26 164 139 15 0 4 4 2
* Data through May 20.
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* 19,151 11,990 4,051 387 536 450 1,737 554 336 115 12 19 15 57
Monthly average
2025-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. 18,900 11,592 4,076 354 591 357 1,930 540 326 111 10 19 11 63
Apr. 19,936 12,927 4,179 316 583 452 1,479 550 340 118 10 20 14 49
May* 21,077 13,752 4,187 419 440 425 1,855 597 370 122 13 15 17 60
Weekly (Friday) average
Apr. 24 21,306 13,719 4,218 355 508 713 1,794 587 358 122 10 18 19 60
May 1 20,458 13,947 3,911 421 451 365 1,361 551 363 110 13 16 10 40
May 8 19,591 13,052 4,050 510 418 204 1,357 547 348 120 13 13 6 47
May 15 21,634 14,258 4,422 337 312 536 1,769 631 391 127 14 15 27 58
May 22* 23,549 14,421 4,866 247 739 583 2,693 655 382 140 8 20 22 84
Daily
May 14 25,645 17,939 4,833 0 53 739 2,081 708 472 130 0 7 41 58
May 15 20,809 13,891 2,252 320 608 635 3,103 616 375 64 17 34 24 102
May 18 21,488 15,032 3,556 362 304 760 1,473 585 401 87 10 10 19 58
May 19 23,738 14,139 5,943 243 696 295 2,422 667 373 186 8 20 11 69
May 20 25,421 14,092 5,099 136 1,217 693 4,184 713 372 147 6 29 35 124
* Data through May 20.
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* 118,870 72,954 18,993 5,591 6,658 3,393 11,281 4,693 2,634 649 328 415 181 486
Monthly average
2025-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. 116,698 71,446 19,336 5,736 6,962 2,918 10,300 4,575 2,581 683 303 410 153 445
Apr. 118,630 72,771 19,493 5,237 6,599 3,474 11,054 4,461 2,437 641 326 402 179 476
May* 131,013 83,469 20,864 5,978 5,518 3,434 11,749 4,894 2,781 682 332 396 205 499
Weekly (Friday) average
Apr. 24 127,187 78,284 20,173 5,097 5,972 3,944 13,718 4,738 2,621 686 307 388 190 546
May 1 121,281 77,982 20,069 5,070 5,817 2,988 9,355 4,565 2,643 646 297 384 177 418
May 8 123,761 76,855 19,055 6,688 5,727 3,350 12,086 4,662 2,581 637 340 404 176 525
May 15 131,192 84,122 22,204 5,082 4,212 3,805 11,767 4,945 2,817 729 304 333 259 502
May 22* 146,661 96,705 23,273 5,455 6,722 3,055 11,449 5,317 3,158 743 341 446 157 473
Daily
May 14 135,186 89,840 21,595 4,857 3,942 3,715 11,238 5,051 2,941 722 301 331 305 451
May 15 127,258 84,352 19,397 4,649 4,422 3,704 10,734 4,808 2,886 609 289 296 260 468
May 18 138,984 96,731 19,050 4,984 5,517 2,801 9,900 4,908 3,141 564 254 350 156 443
May 19 142,715 95,548 24,243 6,304 6,747 3,103 6,770 5,434 3,133 853 410 569 152 317
May 20 158,283 97,838 26,527 5,077 7,901 3,262 17,678 5,610 3,200 811 359 418 164 658
* Data through May 20.

Footnotes

1. Millions of dollars.

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Last Update: May 21, 2026