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 26, 2026Posted March 27, 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* 5,209 2,324 1,537 661 367 204 115 168 75 43 25 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.* 6,205 2,306 2,086 964 366 310 174 195 72 57 33 15 12 7
Weekly (Friday) average
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 7,336 2,347 2,757 976 381 555 320 225 67 75 33 19 20 12
Mar. 27* 6,271 2,993 1,387 1,241 354 247 50 194 85 42 42 15 9 1
Daily
Mar. 20 7,932 317 4,870 1,775 719 128 124 236 11 133 51 29 4 8
Mar. 23 9,357 6,149 1,721 848 318 321 0 277 173 57 25 11 11 0
Mar. 24 6,738 3,560 1,337 1,673 110 58 0 208 103 42 52 7 4 0
Mar. 25 4,958 524 2,036 1,446 498 355 100 153 25 58 44 12 12 2
Mar. 26 4,033 1,738 452 999 489 255 100 136 40 11 45 29 9 2
* Data through March 26.
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* 13,187 8,202 1,468 1,439 1,369 294 415 874 516 94 105 110 30 18
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.* 13,479 8,670 1,546 1,198 1,390 252 423 818 476 102 84 115 25 15
Weekly (Friday) average
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 14,088 9,185 1,785 1,485 1,329 204 99 832 460 112 119 115 17 9
Mar. 27* 13,520 8,685 1,553 1,002 1,888 261 131 793 440 88 61 165 29 9
Daily
Mar. 20 13,773 9,559 1,398 1,431 1,200 168 17 806 469 71 172 77 16 1
Mar. 23 13,757 8,849 1,535 1,124 1,736 488 25 866 464 90 76 177 57 2
Mar. 24 14,428 8,994 1,952 1,208 2,030 118 125 811 437 104 67 185 11 7
Mar. 25 13,294 8,222 1,683 836 2,325 187 42 760 427 89 56 162 20 6
Mar. 26 12,601 8,674 1,043 841 1,459 252 332 735 430 71 46 137 29 22
* Data through March 26.
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* 4,694 4,516 51 56 18 8 44 135 128 2 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.* 4,648 4,460 49 64 9 8 58 134 128 2 2 0 0 3
Weekly (Friday) average
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 4,433 4,283 27 30 0 15 78 135 128 1 1 0 0 5
Mar. 27* 5,393 5,142 134 100 0 0 18 152 144 4 2 0 0 0
Daily
Mar. 20 4,794 4,794 0 0 0 0 0 146 146 0 0 0 0 0
Mar. 23 4,970 4,770 200 0 0 0 0 150 141 9 0 0 0 0
Mar. 24 4,889 4,619 200 0 0 0 70 137 130 5 0 0 0 2
Mar. 25 5,645 5,110 135 400 0 0 0 158 145 4 9 0 0 0
Mar. 26 6,070 6,070 0 0 0 0 0 161 161 0 0 0 0 0
* Data through March 26.
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* 18,438 11,223 3,997 391 542 459 1,826 546 326 112 12 19 15 61
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.* 19,012 11,572 4,160 303 602 352 2,023 542 325 113 8 20 11 66
Weekly (Friday) average
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 18,711 11,203 3,553 369 393 440 2,753 544 318 98 10 17 13 89
Mar. 27* 19,879 12,188 4,234 188 675 336 2,259 565 339 119 5 19 10 72
Daily
Mar. 20 17,986 10,343 3,768 22 295 469 3,089 528 303 109 1 9 17 89
Mar. 23 16,679 11,428 2,646 100 560 390 1,556 482 333 71 2 19 12 45
Mar. 24 21,174 11,302 6,502 13 142 145 3,070 604 329 171 4 4 5 91
Mar. 25 18,260 10,660 4,316 10 1,055 200 2,019 554 304 134 1 31 5 79
Mar. 26 23,404 15,362 3,472 627 944 608 2,391 619 391 100 14 23 18 73
* Data through March 26.
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* 116,746 70,560 18,676 5,657 6,949 3,413 11,490 4,771 2,684 654 331 427 181 495
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.* 118,543 71,437 20,381 5,838 6,994 3,029 10,865 4,672 2,604 720 309 413 161 465
Weekly (Friday) average
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. 20 121,164 72,625 20,999 6,320 6,216 4,035 10,968 4,743 2,591 748 369 410 188 437
Mar. 27* 125,827 76,136 20,290 6,153 7,879 3,838 11,531 4,815 2,668 669 286 507 172 512
Daily
Mar. 20 116,545 71,101 21,372 7,325 6,002 2,634 8,112 4,459 2,567 656 425 282 175 354
Mar. 23 117,264 77,352 14,338 6,929 6,261 3,880 8,504 4,419 2,708 481 283 385 207 355
Mar. 24 130,899 75,420 28,007 5,292 6,924 3,063 12,193 4,938 2,647 880 263 473 126 549
Mar. 25 121,280 70,128 21,259 6,827 8,188 3,557 11,320 5,039 2,580 737 325 669 158 570
Mar. 26 133,866 81,645 17,558 5,562 10,142 4,851 14,107 4,864 2,737 578 275 501 198 575
* Data through March 26.

Footnotes

1. Millions of dollars.

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Last Update: March 27, 2026