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 3, 2025Posted December 4, 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* 4,397 2,427 811 382 411 217 148 157 84 25 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.* 9,192 6,100 869 1,190 551 482 0 333 218 31 46 24 14 0
Weekly (Friday) average
Nov. 7 6,305 3,281 1,359 371 1,294 0 0 227 100 38 24 64 0 0
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* 9,192 6,100 869 1,190 551 482 0 333 218 31 46 24 14 0
Daily
Nov. 27 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Nov. 28 744 703 0 41 0 0 0 38 36 0 2 0 0 0
Dec. 1 7,039 5,974 83 500 350 132 0 291 253 4 19 11 4 0
Dec. 2 9,017 5,366 996 1,441 617 598 0 357 200 39 68 34 16 0
Dec. 3 11,519 6,961 1,528 1,629 685 716 0 351 202 50 50 27 22 0
* Data through December 3.
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* 9,870 6,263 1,167 926 853 373 286 648 384 76 67 73 37 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.* 9,484 6,134 846 1,177 897 318 111 632 400 39 71 92 24 7
Weekly (Friday) average
Nov. 7 10,541 7,047 913 1,277 1,093 166 45 674 452 49 71 79 19 4
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* 9,484 6,134 846 1,177 897 318 111 632 400 39 71 92 24 7
Daily
Nov. 27 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Nov. 28 2,463 1,802 0 315 173 172 0 154 112 0 20 5 17 0
Dec. 1 10,135 6,232 1,265 1,576 852 165 45 640 431 60 81 56 10 2
Dec. 2 9,426 6,095 739 1,026 947 562 57 643 377 29 72 123 37 5
Dec. 3 8,891 6,075 534 929 892 229 232 614 391 29 59 96 26 13
* Data through December 3.
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* 4,152 3,786 196 56 38 17 59 112 101 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.* 4,487 3,989 202 97 108 0 92 116 100 8 3 3 0 2
Weekly (Friday) average
Nov. 7 4,799 4,583 64 11 23 7 110 144 133 3 1 1 0 6
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* 4,487 3,989 202 97 108 0 92 116 100 8 3 3 0 2
Daily
Nov. 27 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Nov. 28 2,630 2,630 0 0 0 0 0 57 57 0 0 0 0 0
Dec. 1 4,376 3,741 70 290 275 0 0 120 99 6 9 6 0 0
Dec. 2 4,526 4,026 250 0 50 0 200 115 101 8 0 2 0 4
Dec. 3 4,560 4,200 285 0 0 0 75 114 101 10 0 0 0 3
* Data through December 3.
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* 20,902 14,038 3,798 412 642 425 1,587 611 405 103 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.* 22,291 13,595 4,593 578 438 595 2,492 722 425 124 18 18 24 113
Weekly (Friday) average
Nov. 7 19,927 12,592 3,768 429 819 457 1,863 591 374 103 15 25 13 61
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* 22,291 13,595 4,593 578 438 595 2,492 722 425 124 18 18 24 113
Daily
Nov. 27 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Nov. 28 9,428 7,668 283 541 0 220 716 327 274 10 13 0 5 25
Dec. 1 21,850 14,222 3,949 1,258 494 479 1,449 663 449 99 32 18 13 52
Dec. 2 18,767 12,516 2,376 158 343 491 2,883 680 411 75 9 7 15 163
Dec. 3 26,256 14,046 7,453 319 478 815 3,146 823 415 198 13 30 43 124
* Data through December 3.
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* 124,033 81,647 17,406 4,921 6,658 3,373 10,029 4,784 2,858 597 288 408 197 437
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.* 114,291 61,912 19,751 6,625 5,774 5,630 14,599 4,837 2,557 680 385 372 260 583
Weekly (Friday) average
Nov. 7 110,032 64,509 14,973 6,219 8,377 3,103 12,852 4,728 2,647 546 361 480 175 520
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* 114,291 61,912 19,751 6,625 5,774 5,630 14,599 4,837 2,557 680 385 372 260 583
Daily
Nov. 27 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Nov. 28 41,204 30,994 2,607 1,873 1,854 1,029 2,847 1,754 1,276 109 101 87 47 134
Dec. 1 105,356 57,954 16,593 7,599 5,944 4,569 12,697 4,424 2,539 524 456 323 160 422
Dec. 2 109,163 59,576 15,792 6,056 5,013 6,028 16,697 4,934 2,507 622 388 387 307 723
Dec. 3 128,356 68,207 26,868 6,220 6,364 6,293 14,404 5,152 2,625 895 310 406 312 604
* Data through December 3.

Footnotes

1. Millions of dollars.

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Last Update: December 4, 2025