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 27, 2026Posted July 28, 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* 5,095 2,246 1,556 585 374 231 101 164 70 43 22 16 10 3
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* 5,107 2,861 1,441 248 348 167 42 154 83 40 9 14 6 1
Weekly (Friday) average
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 5,872 3,024 2,216 225 167 206 35 176 86 65 8 7 9 1
July 31* 8,521 7,028 614 104 95 580 100 223 178 20 3 4 16 2
Daily
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
July 23 1,057 450 516 92 0 0 0 39 17 17 5 0 0 0
July 24 9,135 1,017 7,488 267 284 78 0 242 32 181 12 14 3 0
July 27 8,521 7,028 614 104 95 580 100 223 178 20 3 4 16 2
* Data through July 27.
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* 12,494 7,754 1,418 1,379 1,308 323 312 775 429 87 100 115 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* 12,553 7,871 1,235 1,349 1,565 498 36 722 384 71 94 137 34 3
Weekly (Friday) average
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 12,686 7,893 1,391 1,024 1,437 862 79 732 404 70 79 142 31 6
July 31* 12,838 7,969 911 1,672 2,189 98 0 740 429 64 82 161 4 0
Daily
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
July 23 12,012 7,592 1,189 1,079 2,127 24 0 768 394 72 77 221 4 0
July 24 10,219 6,680 872 1,446 1,092 124 5 657 368 44 102 132 10 1
July 27 12,838 7,969 911 1,672 2,189 98 0 740 429 64 82 161 4 0
* Data through July 27.
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* 4,950 4,660 100 46 27 9 108 139 128 3 1 1 0 5
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* 5,475 5,174 109 35 42 15 100 146 136 4 1 1 1 4
Weekly (Friday) average
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 5,393 5,155 112 38 0 30 58 148 136 3 1 0 1 7
July 31* 5,629 5,389 150 0 0 10 80 167 159 4 0 0 1 3
Daily
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
July 23 4,994 4,968 0 0 0 0 25 155 154 0 0 0 0 1
July 24 5,567 5,291 251 0 0 25 0 166 158 7 0 0 1 0
July 27 5,629 5,389 150 0 0 10 80 167 159 4 0 0 1 3
* Data through July 27.
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* 20,023 12,735 4,078 414 568 455 1,775 571 350 115 13 20 15 58
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* 21,513 14,563 4,052 308 588 421 1,582 599 387 113 10 21 12 57
Weekly (Friday) average
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 21,400 14,807 4,068 254 545 374 1,352 593 403 114 8 18 12 39
July 31* 19,195 14,678 2,191 564 921 250 590 521 384 60 14 30 8 25
Daily
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
July 23 25,159 18,144 4,814 322 293 390 1,196 659 460 138 10 9 12 30
July 24 17,836 14,200 2,215 75 213 527 606 493 381 68 2 13 12 17
July 27 19,195 14,678 2,191 564 921 250 590 521 384 60 14 30 8 25
* Data through July 27.
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* 124,924 78,362 19,450 5,758 6,819 3,406 11,129 4,786 2,717 647 331 423 181 486
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* 141,399 93,538 21,333 5,081 6,805 4,010 10,631 5,031 2,954 665 303 431 201 476
Weekly (Friday) average
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 24 140,711 94,848 22,059 4,476 6,049 3,771 9,508 5,091 3,054 681 286 408 188 475
July 31* 134,552 95,414 14,593 4,642 6,544 3,347 10,012 4,780 3,058 494 231 470 171 356
Daily
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
July 23 135,239 90,233 21,763 4,391 7,449 2,606 8,797 5,147 2,914 715 291 527 127 573
July 24 120,699 85,958 20,262 3,899 3,925 2,129 4,525 4,377 2,883 623 253 303 95 220
July 27 134,552 95,414 14,593 4,642 6,544 3,347 10,012 4,780 3,058 494 231 470 171 356
* Data through July 27.

Footnotes

1. Millions of dollars.

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Last Update: July 28, 2026