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 February 17, 2017Posted February 21, 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* 6,800 3,355 1,379 544 579 450 493 266 126 48 22 27 18 26
Monthly average
2016-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. 7,126 3,663 1,523 413 509 508 509 278 135 54 17 25 20 26
Feb.* 6,299 2,880 1,158 745 687 362 467 247 112 37 28 29 15 25
Weekly (Friday) average
Jan. 20 6,801 3,593 1,410 599 261 380 558 256 125 54 21 16 16 25
Jan. 27 7,049 3,610 1,592 299 471 550 526 279 137 57 10 27 22 25
Feb. 3 5,554 2,178 1,206 835 496 452 387 215 88 39 30 22 18 19
Feb. 10 7,758 4,095 1,250 734 690 305 685 299 159 40 27 26 13 34
Feb. 17* 4,933 1,980 1,039 429 860 283 341 203 76 32 21 38 13 22
Daily
Feb. 14 4,615 1,724 1,237 309 443 381 520 183 62 34 21 23 17 26
Feb. 15 5,715 1,749 1,576 706 1,114 272 300 240 64 45 26 65 18 22
Feb. 16 5,114 1,352 1,263 758 998 387 357 195 48 43 23 33 15 33
Feb. 17 2,514 1,438 349 260 150 237 79 125 56 17 26 12 7 7
Feb. 20 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.
* Data through February 17.

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* 7,334 4,503 879 696 1,019 186 51 611 360 67 66 95 20 3
Monthly average
2016-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. 7,732 4,706 997 694 1,059 212 65 628 362 75 65 100 22 4
Feb.* 6,721 4,191 697 700 957 147 28 586 356 56 68 87 17 2
Weekly (Friday) average
Jan. 20 8,682 4,976 1,190 747 1,239 328 201 684 377 89 71 107 32 8
Jan. 27 8,047 5,381 758 587 1,063 231 27 624 394 58 54 93 24 1
Feb. 3 6,702 4,050 806 706 1,002 121 18 589 337 65 66 107 15 1
Feb. 10 6,695 4,530 619 544 768 191 43 576 380 53 53 66 22 3
Feb. 17* 6,768 4,183 733 746 966 122 20 600 365 58 76 85 14 2
Daily
Feb. 14 6,566 4,230 290 659 1,175 177 35 626 391 29 75 105 22 4
Feb. 15 7,772 4,276 1,083 1,127 1,182 78 26 666 366 70 103 118 7 2
Feb. 16 6,387 3,851 1,012 511 876 137 0 584 354 81 53 79 17 0
Feb. 17 6,070 3,689 641 1,029 550 154 8 507 293 59 99 41 14 1
Feb. 20 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.
* Data through February 17.

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* 9,272 8,746 55 48 73 65 285 312 277 2 2 4 3 23
Monthly average
2016-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. 9,028 8,461 71 48 83 87 278 302 266 3 2 4 4 23
Feb.* 9,645 9,184 31 47 58 30 296 327 295 2 1 3 2 24
Weekly (Friday) average
Jan. 20 9,855 9,239 156 150 64 111 135 309 282 5 6 4 4 9
Jan. 27 8,857 8,576 44 21 6 82 127 296 272 3 1 1 4 14
Feb. 3 8,136 7,398 27 48 53 59 551 283 234 2 2 2 4 40
Feb. 10 9,371 9,016 32 33 52 20 217 306 286 1 1 4 1 13
Feb. 17* 9,511 9,192 24 48 54 10 183 334 306 1 2 3 2 21
Daily
Feb. 14 8,558 8,022 30 35 249 0 222 296 267 3 3 11 0 12
Feb. 15 9,786 9,341 45 0 11 48 341 335 293 1 0 2 8 31
Feb. 16 10,330 10,038 25 100 0 0 167 331 318 1 2 0 0 10
Feb. 17 10,265 10,038 0 107 12 2 107 399 353 0 3 1 1 41
Feb. 20 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.
* Data through February 17.

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* 12,164 7,456 1,325 300 835 777 1,470 464 283 49 11 33 28 60
Monthly average
2016-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. 12,342 7,535 1,255 261 927 980 1,384 470 285 47 10 36 33 59
Feb.* 11,892 7,335 1,434 360 695 465 1,603 455 280 52 14 29 20 62
Weekly (Friday) average
Jan. 20 12,720 7,813 1,271 306 1,102 1,054 1,174 505 314 51 10 47 33 49
Jan. 27 11,835 7,028 1,188 172 823 1,240 1,384 446 272 42 8 29 34 60
Feb. 3 11,646 7,664 1,144 289 535 685 1,329 429 287 38 11 21 25 47
Feb. 10 11,911 7,414 1,460 406 625 519 1,488 456 278 57 14 27 22 58
Feb. 17* 11,566 7,168 1,316 353 761 324 1,644 451 277 48 15 32 15 65
Daily
Feb. 14 12,182 8,219 1,271 412 743 208 1,330 479 308 45 16 37 15 58
Feb. 15 12,480 7,104 2,599 247 632 415 1,483 484 277 83 12 39 18 55
Feb. 16 12,515 6,984 1,293 350 981 495 2,412 456 255 50 8 34 25 84
Feb. 17 10,331 6,413 1,082 299 1,056 82 1,400 406 260 38 10 32 6 60
Feb. 20 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.
* Data through February 17.

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* 77,199 46,229 9,723 3,530 6,120 3,749 7,848 3,680 2,010 424 227 396 200 424
Monthly average
2016-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. 78,824 46,406 10,247 3,464 6,538 4,240 7,928 3,737 2,012 442 225 415 220 423
Feb.* 74,699 45,957 8,918 3,630 5,477 2,993 7,724 3,592 2,008 395 230 366 170 425
Weekly (Friday) average
Jan. 20 81,770 48,134 11,008 3,758 6,575 4,238 8,058 3,912 2,088 498 225 412 237 450
Jan. 27 74,830 47,202 9,234 2,771 5,301 3,788 6,534 3,514 2,069 386 184 328 186 361
Feb. 3 70,980 43,417 8,943 3,170 5,257 3,489 6,703 3,452 1,930 397 202 371 173 379
Feb. 10 73,397 46,342 8,525 3,399 4,752 2,602 7,777 3,520 2,033 387 213 304 167 416
Feb. 17* 75,362 46,645 9,010 3,622 5,993 2,795 7,295 3,632 2,021 397 239 395 162 417
Daily
Feb. 14 70,790 45,856 7,434 3,203 5,233 2,334 6,730 3,424 2,000 327 221 379 141 356
Feb. 15 81,506 47,176 12,129 4,370 6,866 4,155 6,811 3,884 2,022 494 278 487 198 405
Feb. 16 80,044 46,804 11,511 3,526 6,829 3,229 8,146 3,702 1,948 521 208 373 203 449
Feb. 17 72,394 46,244 7,440 4,484 4,654 2,240 7,332 3,610 1,970 367 293 331 139 510
Feb. 20 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.
* Data through February 17.

Footnotes

1. Millions of dollars.

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Last update: February 21, 2017