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 December 11, 2025Posted December 12, 2025

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
2023 3,510 2,629 291 186 213 106 85 122 88 9 8 9 4 4
2024 3,646 2,214 709 291 232 141 59 129 77 22 11 9 6 4
2025* 4,420 2,429 825 395 404 220 147 158 84 26 16 17 9 6
Monthly average
2025-July 3,986 2,366 610 297 408 182 123 143 80 19 13 18 8 6
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.* 6,605 3,693 1,184 990 277 384 77 232 126 38 39 13 12 4
Weekly (Friday) average
Nov. 14 4,065 1,706 1,414 268 356 322 0 148 56 35 9 23 25 0
Nov. 21 5,273 3,594 202 1,017 326 133 0 182 113 8 44 13 4 0
Nov. 28 3,143 1,365 1,427 163 55 123 11 120 58 45 5 2 9 1
Dec. 5 7,469 3,699 1,601 1,336 363 430 40 268 134 49 55 16 13 1
Dec. 12* 5,525 3,685 663 556 170 328 124 186 115 24 18 10 11 8
Daily
Dec. 5 6,094 179 5,304 397 0 14 200 191 13 144 28 0 1 5
Dec. 8 6,578 5,339 602 53 233 62 289 225 165 15 3 11 4 27
Dec. 9 4,356 2,746 888 50 115 502 55 169 116 29 3 6 12 3
Dec. 10 7,431 4,995 1,010 711 155 410 150 225 125 45 27 7 18 3
Dec. 11 3,736 1,660 153 1,410 176 337 0 124 54 5 39 16 10 0
* Data through December 11.
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
2023 10,274 6,688 1,183 921 1,060 241 181 838 471 93 91 140 31 12
2024 10,068 6,639 1,251 805 782 438 154 674 410 82 65 74 35 8
2025* 9,843 6,245 1,163 927 855 373 280 647 383 76 67 73 36 11
Monthly average
2025-July 8,628 5,208 1,078 796 1,008 309 229 589 319 70 62 94 34 10
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.* 9,052 5,746 948 1,027 918 333 78 620 370 54 66 91 29 9
Weekly (Friday) average
Nov. 14 9,901 6,449 1,035 1,268 689 338 122 698 452 63 82 47 46 8
Nov. 21 10,934 6,352 544 1,288 776 334 1,640 705 435 33 88 66 42 40
Nov. 28 6,895 3,457 1,859 729 356 471 23 484 252 110 54 17 48 3
Dec. 5 9,167 5,935 895 1,024 855 370 89 634 384 47 67 97 32 8
Dec. 12* 8,907 5,510 1,015 1,031 997 287 66 601 354 63 64 84 27 9
Daily
Dec. 5 7,850 5,376 417 741 820 428 68 638 362 36 53 131 37 19
Dec. 8 9,008 6,020 719 684 1,119 416 51 648 420 35 37 105 48 3
Dec. 9 7,639 5,618 612 318 895 139 57 597 404 39 33 101 7 13
Dec. 10 7,817 5,130 1,276 315 722 284 90 445 249 97 19 48 20 12
Dec. 11 11,163 5,271 1,454 2,807 1,254 311 65 714 343 80 168 82 32 9
* Data through December 11.
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
2023 7,628 6,657 581 102 130 82 76 209 178 18 3 3 2 5
2024 4,778 4,427 189 38 64 10 50 127 116 6 1 2 0 2
2025* 4,174 3,807 193 57 39 17 60 113 102 5 1 1 1 3
Monthly average
2025-July 5,066 4,620 311 35 40 31 29 138 124 9 1 1 1 3
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.* 4,841 4,424 107 121 88 2 99 137 120 4 4 3 0 6
Weekly (Friday) average
Nov. 14 4,755 4,447 119 100 64 0 25 154 144 4 2 2 0 0
Nov. 21 4,544 4,265 27 30 29 20 173 133 125 1 1 1 0 6
Nov. 28 4,159 3,836 165 100 0 3 54 123 110 8 2 0 0 3
Dec. 5 4,588 4,160 126 60 104 2 137 130 111 5 2 3 0 8
Dec. 12* 5,156 4,754 84 197 69 2 51 146 132 2 6 2 0 4
Daily
Dec. 5 4,470 4,326 0 4 30 0 110 149 121 0 1 1 0 26
Dec. 8 4,894 4,493 150 12 175 7 56 133 115 3 1 4 1 9
Dec. 9 4,633 4,500 0 0 35 0 98 120 113 0 0 2 0 5
Dec. 10 5,485 4,935 0 500 0 0 50 158 144 0 12 0 0 2
Dec. 11 5,611 5,086 185 275 65 0 0 173 156 5 9 3 0 0
* Data through December 11.
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
2023 16,214 9,705 3,223 487 860 509 1,431 506 300 89 16 28 16 56
2024 22,542 15,680 3,545 517 713 466 1,621 660 449 96 15 24 15 60
2025* 20,898 14,014 3,774 416 643 437 1,614 612 404 102 12 22 14 56
Monthly average
2025-July 20,512 13,828 4,010 458 517 380 1,319 601 401 108 12 18 12 49
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.* 21,279 13,268 3,443 558 610 802 2,597 658 402 95 15 21 31 95
Weekly (Friday) average
Nov. 14 20,364 12,803 4,390 634 385 425 1,727 604 380 120 18 15 11 60
Nov. 21 19,600 12,249 3,251 374 452 725 2,549 608 365 91 12 16 25 100
Nov. 28 18,268 10,351 4,898 447 221 452 1,898 540 306 136 14 8 14 62
Dec. 5 20,489 12,868 3,372 502 531 611 2,606 665 397 98 15 18 31 106
Dec. 12* 22,266 13,768 3,532 628 710 1,041 2,587 650 408 91 15 24 31 80
Daily
Dec. 5 18,714 12,570 2,170 225 826 694 2,230 596 376 77 5 22 39 77
Dec. 8 22,056 13,817 2,275 766 983 1,604 2,612 669 423 59 20 34 41 92
Dec. 9 19,264 12,216 1,796 265 276 1,313 3,398 559 359 53 6 12 36 93
Dec. 10 24,704 12,840 6,980 747 744 816 2,577 728 400 177 19 22 32 78
Dec. 11 23,039 16,197 3,077 735 837 432 1,761 642 448 76 16 29 16 57
* Data through December 11.
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
2023 115,630 78,012 15,262 4,619 6,585 2,951 8,202 4,625 2,730 546 286 462 178 423
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* 123,760 81,317 17,348 4,937 6,655 3,398 10,104 4,781 2,852 596 288 407 198 440
Monthly average
2025-July 130,528 88,832 18,082 4,393 6,713 3,490 9,018 4,967 3,057 624 272 408 216 390
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.* 113,578 66,381 16,672 5,926 6,291 4,772 13,536 4,717 2,611 611 325 383 232 557
Weekly (Friday) average
Nov. 14 107,552 63,394 16,826 5,656 7,573 3,908 10,196 4,646 2,594 581 296 466 249 460
Nov. 21 110,712 67,397 12,291 7,674 6,352 4,096 12,902 4,804 2,727 423 441 467 220 527
Nov. 28 87,465 46,914 20,980 3,973 3,616 4,126 7,856 3,720 1,897 761 257 182 289 334
Dec. 5 111,500 62,213 17,652 6,369 5,833 5,102 14,332 4,772 2,518 643 379 372 248 612
Dec. 12* 116,174 71,592 15,447 5,372 6,864 4,359 12,541 4,648 2,727 570 257 396 212 487
Daily
Dec. 5 103,710 60,734 15,060 4,845 6,507 3,282 13,282 4,625 2,410 589 358 410 205 653
Dec. 8 106,284 66,816 12,117 4,814 5,417 4,281 12,839 4,482 2,639 417 296 353 225 552
Dec. 9 107,287 68,631 8,826 3,346 6,152 5,493 14,838 4,454 2,745 382 172 384 243 528
Dec. 10 126,606 78,360 22,818 5,161 5,765 4,091 10,412 4,652 2,793 828 179 274 180 398
Dec. 11 124,521 72,559 18,028 8,166 10,122 3,571 12,075 5,002 2,730 652 380 571 198 471
* Data through December 11.

Footnotes

1. Millions of dollars.

Back to Top
Last Update: December 12, 2025