Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download FRED XML

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of July 22, 2026Posted July 23, 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* 5,070 2,234 1,528 595 380 232 102 164 70 42 23 16 10 4
Monthly average
2026-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 5,407 1,654 2,434 567 292 371 90 167 52 61 23 13 15 3
June 4,850 2,453 849 560 656 233 100 168 76 23 22 31 12 4
July* 4,881 2,867 1,155 267 393 156 43 151 84 34 9 16 6 1
Weekly (Friday) average
June 26 5,485 2,548 587 649 1,222 477 2 211 84 22 24 53 26 1
July 3 2,701 324 1,532 183 551 111 0 88 16 40 6 24 2 0
July 10 4,918 4,111 230 267 255 37 20 148 117 8 11 10 2 1
July 17 3,923 1,530 1,414 236 427 242 75 122 49 36 8 17 9 2
July 24* 6,390 4,550 1,026 255 183 316 58 199 126 42 8 7 14 2
Daily
July 16 2,639 603 9 775 338 638 275 129 44 1 30 13 31 10
July 17 7,210 119 5,994 85 642 370 0 184 13 135 3 23 10 0
July 20 7,636 6,484 903 0 25 225 0 206 167 28 0 1 10 0
July 21 5,786 3,854 350 441 291 674 175 202 131 8 16 11 30 6
July 22 5,748 3,314 1,826 325 233 50 0 189 81 91 8 8 1 0
* Data through July 22.
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* 12,511 7,762 1,427 1,379 1,297 328 318 776 430 88 100 114 31 14
Monthly average
2026-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 12,694 7,789 1,574 1,375 1,149 288 520 769 392 93 105 119 36 25
June 12,292 7,884 1,196 1,481 1,220 318 192 702 388 67 98 118 24 7
July* 12,726 7,963 1,283 1,339 1,517 582 42 722 381 73 95 130 40 4
Weekly (Friday) average
June 26 11,985 8,542 680 1,146 1,413 156 47 686 419 38 83 121 17 7
July 3 13,108 8,175 1,329 1,420 1,621 532 31 712 396 74 84 108 46 3
July 10 12,118 7,684 1,166 1,567 1,262 415 24 696 364 66 103 112 47 3
July 17 11,923 7,875 1,056 1,335 1,549 106 2 699 368 69 105 146 10 2
July 24* 13,733 8,398 1,632 864 1,323 1,387 130 745 419 78 72 120 47 9
Daily
July 16 11,961 8,153 847 1,172 1,610 174 5 695 374 59 90 144 22 6
July 17 11,005 7,932 984 951 1,081 57 0 680 409 70 74 124 3 0
July 20 14,561 9,678 1,683 1,102 1,418 342 339 808 483 74 87 119 20 25
July 21 15,645 8,121 1,750 719 1,233 3,769 52 803 413 80 56 138 113 3
July 22 10,994 7,393 1,463 772 1,317 49 0 623 362 80 72 102 7 0
* Data through July 22.
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* 4,941 4,648 99 47 28 9 110 138 127 3 1 1 0 6
Monthly average
2026-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 5,425 4,986 200 30 46 23 140 145 132 6 1 1 1 5
June 5,266 4,726 153 42 15 4 327 153 128 5 1 0 0 19
July* 5,490 5,166 104 42 50 15 113 142 131 4 1 1 1 5
Weekly (Friday) average
June 26 5,246 5,003 77 53 0 5 108 152 138 2 1 0 0 10
July 3 3,445 3,149 90 26 62 6 112 90 82 2 1 1 0 4
July 10 5,489 5,226 82 49 85 7 41 146 139 3 1 2 0 1
July 17 5,557 5,220 96 20 16 9 195 143 132 4 0 1 1 5
July 24* 5,468 5,172 103 63 0 42 88 139 122 3 1 0 1 11
Daily
July 16 5,350 5,150 0 0 0 0 200 129 125 0 0 0 0 4
July 17 5,975 5,150 0 0 50 0 775 150 127 0 0 4 0 19
July 20 5,365 5,000 100 0 0 25 240 156 118 5 0 0 1 32
July 21 5,400 5,350 0 0 0 25 25 127 125 0 0 0 1 1
July 22 5,640 5,165 210 190 0 75 0 134 123 5 4 0 2 0
* Data through July 22.
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* 20,008 12,671 4,099 416 570 456 1,796 571 349 116 13 20 15 59
Monthly average
2026-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 21,724 14,172 4,265 546 459 497 1,786 607 376 123 17 15 19 57
June 21,857 13,916 4,114 504 716 445 2,161 610 372 118 14 25 14 67
July* 21,670 14,341 4,247 305 611 428 1,739 607 382 118 10 22 12 63
Weekly (Friday) average
June 26 22,521 14,269 3,882 720 559 447 2,643 627 384 106 17 20 14 86
July 3 21,981 13,038 4,905 499 728 720 2,091 624 354 141 16 26 19 68
July 10 21,202 13,841 4,166 254 743 465 1,733 594 372 115 7 25 13 62
July 17 22,362 15,671 4,126 248 353 288 1,677 614 399 114 10 16 8 68
July 24* 21,335 13,897 4,438 291 740 317 1,652 604 391 121 9 23 12 49
Daily
July 16 27,811 18,809 5,902 282 365 346 2,107 712 450 165 13 11 9 64
July 17 18,994 15,201 2,131 208 125 220 1,109 524 400 60 10 7 6 41
July 20 20,197 14,648 2,186 210 1,258 695 1,199 581 420 54 7 38 23 39
July 21 22,645 13,877 5,792 537 414 109 1,917 640 400 154 14 11 5 56
July 22 21,164 13,167 5,336 125 547 148 1,842 591 354 154 5 19 7 52
* Data through July 22.
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* 124,811 78,099 19,462 5,790 6,837 3,421 11,202 4,786 2,712 648 333 423 182 489
Monthly average
2026-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 133,427 85,235 21,444 6,064 5,779 3,452 11,454 4,951 2,822 690 340 397 199 503
June 134,730 87,191 18,990 6,969 7,698 2,923 10,958 4,918 2,839 609 360 460 160 490
July* 143,647 94,139 21,825 5,235 6,972 4,273 11,202 5,083 2,954 676 312 430 215 495
Weekly (Friday) average
June 26 137,866 92,778 18,491 6,174 8,225 2,396 9,802 4,906 3,008 564 304 448 139 441
July 3 130,517 77,222 24,472 5,297 7,900 3,764 11,863 4,656 2,524 740 280 452 201 460
July 10 146,840 96,375 20,495 5,752 7,690 4,157 12,370 5,140 2,971 638 330 461 207 533
July 17 140,085 95,335 20,550 4,559 5,746 4,112 9,783 5,003 2,993 654 300 394 199 462
July 24* 149,205 99,349 22,757 4,696 6,291 4,706 11,407 5,311 3,157 688 295 403 240 527
Daily
July 16 149,255 95,449 26,556 5,133 5,222 5,131 11,765 5,351 3,065 820 339 392 232 503
July 17 133,517 95,760 17,440 3,945 5,128 3,731 7,512 4,720 3,039 544 237 355 186 359
July 20 146,339 105,096 15,682 4,531 7,852 4,281 8,896 5,171 3,300 476 281 427 229 458
July 21 150,789 96,639 24,663 5,029 5,510 6,833 12,115 5,322 3,110 717 291 404 279 521
July 22 150,488 96,312 27,925 4,527 5,509 3,005 13,208 5,440 3,061 872 314 378 212 603
* Data through July 22.

Footnotes

1. Millions of dollars.

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Last Update: July 23, 2026