Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of March 19, 2025Posted March 20, 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* 3,819 2,022 758 306 408 203 122 127 65 22 12 15 8 4
Monthly average
2024-Oct. 4,628 3,380 614 257 177 75 126 166 114 19 10 7 3 12
Nov. 3,993 2,231 701 657 236 108 59 137 73 22 23 9 6 4
Dec. 3,920 2,566 653 317 274 79 32 129 86 18 12 9 2 2
2025-Jan. 3,473 2,079 878 173 141 179 22 113 67 26 7 6 7 1
Feb. 4,147 2,170 765 351 440 243 179 137 72 22 13 15 8 6
Mar.* 3,899 1,712 556 455 794 184 200 134 53 17 17 30 9 8
Weekly (Friday) average
Feb. 21 4,333 2,376 1,035 194 521 44 164 139 77 27 10 19 1 5
Feb. 28 3,721 2,121 222 578 227 285 289 126 69 9 19 10 10 9
Mar. 7 3,663 2,031 481 122 614 174 240 125 66 11 5 22 11 9
Mar. 14 3,936 789 597 882 1,248 161 259 139 23 21 33 47 5 10
Mar. 21* 4,234 2,718 613 298 336 237 32 138 79 19 11 16 13 1
Daily
Mar. 13 3,266 1,134 3 540 1,321 114 154 122 27 1 29 54 4 7
Mar. 14 2,866 639 390 0 1,545 188 104 89 19 9 0 50 8 3
Mar. 17 5,784 5,070 264 112 125 192 22 157 129 9 6 4 8 1
Mar. 18 4,901 2,710 1,205 650 25 311 0 177 92 38 22 1 24 0
Mar. 19 2,016 374 369 131 858 210 75 80 16 9 4 42 7 2
* Data through March 19.
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* 11,017 6,975 1,445 967 921 367 342 700 398 98 71 83 37 12
Monthly average
2024-Oct. 9,563 6,572 1,167 652 588 568 15 623 410 78 48 49 36 2
Nov. 9,079 5,668 1,170 1,117 624 401 98 599 365 79 79 47 26 3
Dec. 8,980 5,666 1,174 684 656 483 318 584 352 79 54 63 28 9
2025-Jan. 10,444 6,573 1,416 934 919 385 218 664 377 92 71 80 39 6
Feb. 11,464 7,200 1,611 1,002 890 389 373 738 420 105 70 84 43 14
Mar.* 11,290 7,296 1,251 970 969 306 498 702 399 99 74 85 26 20
Weekly (Friday) average
Feb. 21 12,452 7,897 1,251 784 835 148 1,538 739 475 75 52 81 20 36
Feb. 28 11,867 7,485 2,099 876 949 375 83 770 431 140 63 76 45 14
Mar. 7 10,947 7,386 1,381 740 1,028 252 162 672 392 98 51 81 26 25
Mar. 14 11,660 6,938 1,169 1,165 847 434 1,108 713 397 99 88 74 29 26
Mar. 21* 11,245 7,745 1,173 1,028 1,073 185 41 734 415 101 88 109 19 1
Daily
Mar. 13 13,128 7,487 1,094 1,164 672 614 2,097 731 419 94 68 70 36 44
Mar. 14 10,882 7,645 1,021 963 956 275 22 660 451 48 55 82 23 1
Mar. 17 11,802 7,740 1,018 1,241 1,442 339 22 786 420 93 105 133 33 2
Mar. 18 11,737 7,943 1,591 1,119 903 80 100 771 440 130 119 67 13 2
Mar. 19 10,196 7,553 909 723 875 136 0 645 384 80 41 128 12 0
* Data through March 19.
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* 3,512 3,082 263 81 26 11 49 85 73 6 2 1 0 2
Monthly average
2024-Oct. 5,862 5,407 136 63 224 10 23 153 139 4 2 7 0 2
Nov. 4,940 4,472 292 58 49 19 50 134 120 7 2 2 1 2
Dec. 4,487 3,934 176 137 31 8 200 128 109 5 4 1 0 8
2025-Jan. 3,334 2,823 316 81 35 17 63 84 69 8 2 1 1 3
Feb. 3,657 3,144 333 113 26 4 36 88 75 8 3 1 0 2
Mar.* 3,589 3,411 76 35 12 12 44 83 78 2 1 1 1 2
Weekly (Friday) average
Feb. 21 3,878 3,323 389 38 75 0 54 100 86 9 1 2 0 3
Feb. 28 3,284 2,770 445 10 15 7 37 74 61 11 0 0 0 1
Mar. 7 3,749 3,626 65 0 30 3 25 93 89 2 0 2 0 1
Mar. 14 3,518 3,240 111 90 0 22 55 78 70 3 2 0 1 2
Mar. 21* 3,441 3,337 36 0 0 8 60 76 72 1 0 0 0 2
Daily
Mar. 13 3,690 3,270 275 75 0 0 70 81 70 6 2 0 0 3
Mar. 14 3,275 3,195 0 0 0 10 70 72 69 0 0 0 1 2
Mar. 17 3,262 3,195 0 0 0 0 67 72 69 0 0 0 0 3
Mar. 18 3,220 3,195 0 0 0 25 0 70 69 0 0 0 1 0
Mar. 19 3,840 3,620 107 0 0 0 113 86 79 4 0 0 0 3
* Data through March 19.
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* 20,914 14,398 3,571 374 600 416 1,556 599 404 96 11 20 13 55
Monthly average
2024-Oct. 21,435 14,252 3,848 526 707 279 1,823 637 419 103 16 24 10 65
Nov. 22,928 14,984 3,834 600 666 597 2,248 659 429 102 16 20 18 74
Dec. 21,665 14,626 3,446 675 689 352 1,878 624 415 91 19 23 11 65
2025-Jan. 20,719 14,287 3,684 382 586 354 1,425 600 408 98 11 19 11 52
Feb. 21,590 14,871 3,474 404 625 403 1,813 613 412 94 11 20 13 63
Mar.* 20,241 13,886 3,529 317 584 533 1,391 578 387 96 10 19 15 50
Weekly (Friday) average
Feb. 21 22,981 14,902 4,369 572 635 562 1,942 647 408 119 14 24 15 68
Feb. 28 20,733 14,993 3,139 217 618 325 1,441 573 404 84 6 19 12 49
Mar. 7 19,404 12,881 3,377 460 668 637 1,382 559 364 93 11 21 18 53
Mar. 14 20,704 14,517 3,424 301 477 469 1,516 594 407 95 12 14 14 53
Mar. 21* 20,863 14,511 3,960 107 622 467 1,196 581 394 102 4 25 13 42
Daily
Mar. 13 17,907 13,732 1,816 154 450 422 1,334 516 379 62 6 15 12 42
Mar. 14 21,870 13,967 3,675 435 928 556 2,309 617 385 98 11 24 16 83
Mar. 17 18,616 14,631 1,231 30 1,067 195 1,462 533 404 35 1 39 5 49
Mar. 18 23,916 14,331 7,339 292 251 593 1,108 641 382 192 12 9 16 30
Mar. 19 20,058 14,571 3,309 0 549 612 1,017 568 395 80 0 28 18 47
* Data through March 19.
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* 123,206 81,064 17,918 4,275 6,393 3,386 10,170 4,578 2,685 593 250 409 187 453
Monthly average
2024-Oct. 118,372 77,881 16,641 4,643 6,567 2,927 9,713 4,549 2,705 589 262 361 171 461
Nov. 120,972 79,297 16,565 5,773 6,049 3,698 9,590 4,488 2,664 581 306 317 188 432
Dec. 111,921 73,278 15,091 4,993 6,206 3,089 9,264 4,179 2,506 510 256 347 161 399
2025-Jan. 120,403 77,804 18,794 4,098 6,651 3,680 9,376 4,504 2,598 607 239 417 210 432
Feb. 124,227 81,885 18,187 4,263 5,968 3,336 10,588 4,623 2,720 600 241 396 185 481
Mar.* 126,240 85,131 16,109 4,578 6,596 2,985 10,842 4,630 2,776 558 283 414 153 446
Weekly (Friday) average
Feb. 21 132,684 84,941 22,673 3,977 5,938 3,756 11,398 4,886 2,848 702 247 437 176 476
Feb. 28 119,710 83,898 14,382 4,209 6,354 3,260 7,608 4,458 2,745 527 230 369 201 385
Mar. 7 124,574 83,146 15,153 4,263 7,961 2,698 11,354 4,612 2,748 516 246 464 144 493
Mar. 14 126,426 84,682 16,638 5,343 5,900 2,803 11,060 4,618 2,762 560 343 385 149 419
Mar. 21* 128,710 89,187 16,818 3,829 5,480 3,768 9,626 4,682 2,846 624 246 379 174 413
Daily
Mar. 13 128,583 85,661 17,187 4,740 6,186 2,384 12,426 4,663 2,742 588 312 471 115 435
Mar. 14 127,236 85,421 18,528 4,415 6,788 3,280 8,804 4,450 2,770 534 251 346 171 378
Mar. 17 120,101 86,944 11,372 3,859 5,743 3,372 8,812 4,472 2,851 458 263 395 149 356
Mar. 18 134,849 91,471 21,281 4,688 5,038 3,564 8,808 4,898 2,907 801 311 323 155 401
Mar. 19 131,179 89,147 17,802 2,941 5,661 4,369 11,259 4,675 2,780 612 163 419 219 482
* Data through March 19.

Footnotes

1. Millions of dollars.

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Last Update: March 20, 2025