Board of Governors of the Federal Reserve System

Commercial Paper

Volume Statistics for Commercial Paper Issuance Derived from data supplied by The Depository Trust & Clearing Corporation

Data as of January 12, 2017Posted January 13, 2017

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
2015 6,135 3,973 833 369 460 317 183 226 142 27 16 20 13 8
2016 7,324 4,282 1,355 379 492 488 327 282 158 44 17 23 21 18
2017* 8,405 4,424 1,758 470 660 627 465 327 162 61 21 31 23 29
Monthly average
2016-Aug. 6,850 4,659 1,022 237 369 319 244 267 171 34 13 19 14 16
Sept. 7,786 4,633 1,585 606 395 345 222 286 164 50 24 19 13 15
Oct. 8,625 5,302 1,570 346 545 582 280 335 194 54 16 24 27 20
Nov. 8,012 3,913 2,159 549 552 650 189 294 142 66 22 26 27 11
Dec. 8,435 5,039 2,030 389 324 402 251 294 171 62 20 15 15 11
2017-Jan.* 8,405 4,424 1,758 470 660 627 465 327 162 61 21 31 23 29
Weekly (Friday) average
Dec. 16 9,254 5,408 2,339 406 305 528 267 312 175 70 25 12 18 12
Dec. 23 8,201 5,099 2,541 109 149 170 134 279 171 83 6 8 6 5
Dec. 30 5,883 4,818 659 101 294 10 0 211 170 18 6 14 2 0
Jan. 6 8,691 4,639 2,199 223 539 515 574 332 170 75 10 22 21 34
Jan. 13* 8,118 4,208 1,316 717 781 740 356 321 155 47 32 39 25 23
Daily
Jan. 6 8,939 2,837 4,700 294 272 299 537 341 117 151 11 12 21 29
Jan. 9 11,144 8,470 356 597 915 473 333 437 309 15 35 44 13 21
Jan. 10 8,980 4,183 1,833 449 831 1,333 352 346 163 57 27 32 40 27
Jan. 11 5,799 2,074 1,467 382 774 919 182 222 73 46 24 34 27 18
Jan. 12 6,549 2,108 1,609 1,439 605 233 556 279 75 69 42 45 21 27
* Data through January 12.

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
2015 5,085 2,827 638 631 750 189 50 451 228 57 67 77 18 4
2016 5,545 3,263 718 638 732 159 35 500 278 64 65 74 16 2
2017* 7,342 4,140 1,143 751 1,111 174 23 609 328 82 70 109 19 2
Monthly average
2016-Aug. 5,790 3,632 792 535 700 109 24 508 298 69 57 69 13 2
Sept. 5,805 3,739 765 497 616 167 20 502 306 69 49 59 17 2
Oct. 5,255 3,296 487 486 720 187 79 486 292 46 49 73 20 6
Nov. 5,554 3,281 806 490 678 276 22 486 272 69 46 68 28 1
Dec. 5,734 3,205 1,003 586 707 204 29 497 273 81 52 68 22 2
2017-Jan.* 7,342 4,140 1,143 751 1,111 174 23 609 328 82 70 109 19 2
Weekly (Friday) average
Dec. 16 6,212 3,638 1,030 449 813 243 39 543 303 77 48 81 30 4
Dec. 23 5,350 2,707 1,225 697 656 53 12 480 249 104 58 63 5 1
Dec. 30 4,543 2,615 952 505 406 23 42 404 232 82 41 44 2 3
Jan. 6 7,519 4,188 1,304 814 1,043 158 12 623 328 95 78 104 18 1
Jan. 13* 7,166 4,091 981 689 1,180 191 34 595 328 68 61 113 20 4
Daily
Jan. 6 7,142 4,818 695 921 620 89 0 585 364 52 92 60 17 0
Jan. 9 6,648 4,106 638 704 1,081 88 30 530 306 40 54 117 7 6
Jan. 10 6,950 3,955 468 677 1,547 303 0 641 344 46 76 148 27 0
Jan. 11 7,434 3,963 1,549 411 1,175 231 105 632 334 125 29 110 25 9
Jan. 12 7,630 4,340 1,270 963 915 142 0 577 328 63 86 78 22 0
* Data through January 12.

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
2015 1,113 425 118 28 75 106 362 64 28 4 2 4 5 21
2016 11,132 10,283 193 46 83 98 429 345 296 6 2 4 5 32
2017* 9,919 9,217 61 6 167 95 373 334 288 3 1 6 4 32
Monthly average
2016-Aug. 10,603 9,753 307 57 80 76 331 317 267 8 3 4 5 31
Sept. 10,073 9,496 53 27 63 92 342 301 258 2 2 4 4 32
Oct. 7,469 6,984 36 27 61 109 252 261 220 2 1 3 5 30
Nov. 7,154 6,646 114 33 69 88 203 246 214 4 2 3 4 19
Dec. 8,166 7,562 115 19 62 100 308 277 236 5 2 4 5 26
2017-Jan.* 9,919 9,217 61 6 167 95 373 334 288 3 1 6 4 32
Weekly (Friday) average
Dec. 16 9,568 8,816 119 23 91 142 377 311 256 5 1 4 6 38
Dec. 23 8,021 7,279 89 23 52 136 443 271 227 5 1 3 6 29
Dec. 30 6,845 6,585 10 1 13 75 161 246 223 1 1 1 2 16
Jan. 6 10,156 9,180 103 7 263 113 489 348 288 4 2 8 4 42
Jan. 13* 9,682 9,254 19 5 71 76 257 318 288 2 1 3 4 21
Daily
Jan. 6 10,128 9,592 19 3 115 125 274 324 302 3 1 3 4 11
Jan. 9 9,710 9,530 0 0 1 1 178 320 306 0 0 1 1 12
Jan. 10 9,054 8,434 2 7 5 126 480 310 265 1 2 1 8 33
Jan. 11 10,042 9,714 13 0 25 127 163 336 304 2 0 2 4 24
Jan. 12 9,923 9,337 63 13 251 50 208 308 277 4 1 9 1 16
* Data through January 12.

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
2015 11,484 6,749 1,149 386 1,439 581 1,179 432 257 45 15 52 21 41
2016 12,316 7,583 1,105 374 1,155 601 1,498 443 271 42 13 43 20 54
2017* 12,841 7,585 1,343 279 1,080 854 1,700 486 275 51 10 40 35 76
Monthly average
2016-Aug. 12,862 8,001 911 410 1,395 448 1,697 462 283 36 13 50 18 61
Sept. 15,294 9,907 1,347 549 1,032 540 1,918 521 327 47 18 39 17 72
Oct. 12,470 8,569 778 466 830 489 1,338 470 318 33 16 32 18 53
Nov. 11,906 7,553 1,439 368 663 528 1,355 448 286 53 15 27 16 52
Dec. 13,266 8,813 978 553 792 405 1,726 495 331 38 18 31 15 63
2017-Jan.* 12,841 7,585 1,343 279 1,080 854 1,700 486 275 51 10 40 35 76
Weekly (Friday) average
Dec. 16 16,400 11,369 1,168 258 1,120 573 1,912 614 419 45 8 46 19 77
Dec. 23 14,034 8,888 671 1,134 923 315 2,103 510 333 29 35 27 14 72
Dec. 30 10,002 6,379 868 561 591 313 1,290 355 235 27 17 27 13 36
Jan. 6 13,491 7,608 1,561 245 1,065 985 2,027 506 275 60 9 40 38 84
Jan. 13* 12,191 7,563 1,124 313 1,094 723 1,373 467 275 41 11 40 33 67
Daily
Jan. 6 12,016 6,868 1,261 266 1,000 957 1,664 474 255 69 9 41 44 56
Jan. 9 13,529 7,642 373 247 1,931 800 2,535 512 293 17 7 59 36 100
Jan. 10 11,447 7,274 1,129 180 714 571 1,579 466 275 45 7 29 32 78
Jan. 11 11,993 7,521 1,526 330 902 751 963 459 268 57 14 37 30 53
Jan. 12 11,796 7,813 1,470 496 829 771 417 431 265 46 16 34 33 37
* Data through January 12.

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
2015 79,575 50,679 8,793 3,790 6,476 3,184 6,652 3,454 2,013 374 244 373 161 288
2016 78,277 49,126 9,347 3,620 6,157 3,323 6,703 3,527 2,008 413 235 371 172 328
2017* 83,919 46,701 11,273 3,729 8,051 4,844 9,322 3,940 1,981 476 254 509 246 475
Monthly average
2016-Aug. 81,055 52,048 10,157 3,366 6,418 2,865 6,200 3,619 2,069 436 210 390 167 346
Sept. 86,433 56,306 10,811 4,058 5,820 2,937 6,501 3,679 2,160 446 234 338 153 347
Oct. 73,848 47,039 7,854 3,102 5,660 3,310 6,883 3,493 2,029 355 202 351 183 373
Nov. 71,208 42,854 10,691 3,371 5,020 3,539 5,734 3,312 1,830 437 217 326 189 312
Dec. 75,325 47,201 10,809 3,685 5,256 2,647 5,726 3,399 1,993 452 222 305 144 284
2017-Jan.* 83,919 46,701 11,273 3,729 8,051 4,844 9,322 3,940 1,981 476 254 509 246 475
Weekly (Friday) average
Dec. 16 85,062 55,392 11,972 2,796 5,577 3,163 6,163 3,802 2,287 475 199 367 158 316
Dec. 23 76,554 45,230 11,583 5,070 6,110 2,087 6,473 3,429 1,918 528 260 298 115 311
Dec. 30 60,175 40,065 8,894 2,335 3,567 1,722 3,591 2,736 1,766 352 149 201 86 182
Jan. 6 86,804 46,613 12,288 3,682 8,942 4,937 10,342 4,064 1,970 520 258 542 254 522
Jan. 13* 81,034 46,789 10,258 3,775 7,160 4,751 8,301 3,816 1,992 431 251 476 238 428
Daily
Jan. 6 81,409 44,924 11,594 4,284 6,183 4,593 9,831 3,805 1,978 467 256 380 267 457
Jan. 9 85,312 51,947 5,383 4,054 8,537 4,656 10,736 3,967 2,211 261 262 531 221 481
Jan. 10 82,720 44,747 12,963 2,903 7,821 6,230 8,057 3,893 1,927 506 224 536 298 402
Jan. 11 77,869 44,733 13,128 2,956 6,099 4,479 6,474 3,697 1,919 539 200 390 226 423
Jan. 12 78,236 45,728 9,559 5,188 6,184 3,640 7,938 3,706 1,913 419 318 447 205 404
* Data through January 12.

Footnotes

1. Millions of dollars.

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Last update: January 13, 2017