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 23, 2017Posted February 24, 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* 6,860 3,339 1,429 571 612 433 476 266 124 49 22 29 18 25
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.* 6,527 2,934 1,311 768 740 340 435 252 111 41 28 33 14 24
Weekly (Friday) average
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
Feb. 24* 7,517 3,171 1,973 865 968 244 296 272 108 60 28 47 11 18
Daily
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.
Feb. 21 11,346 5,593 3,118 877 1,480 184 94 402 201 87 32 54 15 13
Feb. 22 5,686 1,856 1,527 396 1,275 494 138 224 58 50 17 71 17 11
Feb. 23 5,518 2,063 1,274 1,323 148 55 656 191 65 44 36 15 2 29
* Data through February 23.

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* 7,317 4,507 879 698 999 187 48 607 358 67 66 93 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.* 6,798 4,258 733 702 924 156 26 582 353 58 68 84 17 2
Weekly (Friday) average
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
Feb. 24* 7,135 4,547 885 712 784 191 17 561 342 65 64 72 17 1
Daily
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.
Feb. 21 8,060 4,799 1,238 910 905 209 0 557 332 70 74 60 21 0
Feb. 22 7,132 4,632 897 650 747 156 50 586 373 60 55 82 15 1
Feb. 23 6,214 4,209 520 575 700 208 1 539 322 64 63 73 16 1
* Data through February 23.

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* 9,478 8,943 64 49 77 70 275 321 288 3 2 4 3 22
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.* 10,041 9,546 54 51 69 50 271 345 314 2 2 4 2 22
Weekly (Friday) average
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
Feb. 24* 11,753 11,112 158 69 114 134 167 427 398 4 3 5 4 13
Daily
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.
Feb. 21 12,044 11,235 54 28 189 201 337 429 387 4 3 10 6 19
Feb. 22 10,987 10,496 195 173 102 1 19 403 384 4 5 4 1 5
Feb. 23 12,228 11,604 225 5 50 200 145 450 424 5 1 2 4 14
* Data through February 23.

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* 12,150 7,472 1,350 294 823 762 1,449 465 283 50 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.* 11,909 7,392 1,470 334 694 489 1,531 458 281 53 13 29 21 61
Weekly (Friday) average
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
Feb. 24* 11,987 7,639 1,624 223 690 592 1,219 469 288 59 10 31 24 58
Daily
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.
Feb. 21 11,156 6,863 1,360 218 596 443 1,676 460 263 52 8 40 19 78
Feb. 22 13,341 7,900 2,338 204 873 929 1,096 510 303 77 11 29 37 53
Feb. 23 11,464 8,155 1,173 246 600 403 887 437 297 47 11 23 17 42
* Data through February 23.

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* 77,788 46,718 9,958 3,539 6,093 3,724 7,757 3,690 2,021 431 228 393 199 418
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.* 76,494 47,108 9,596 3,632 5,536 3,080 7,543 3,630 2,033 416 231 366 173 411
Weekly (Friday) average
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
Feb. 24* 84,271 52,096 12,535 3,638 5,790 3,456 6,756 3,793 2,142 508 237 368 185 353
Daily
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.
Feb. 21 90,181 53,653 15,165 4,254 6,222 2,987 7,899 4,009 2,164 591 280 388 184 402
Feb. 22 81,865 50,489 13,440 2,579 6,229 3,606 5,522 3,698 2,097 516 181 399 189 316
Feb. 23 80,767 52,145 9,002 4,080 4,917 3,775 6,848 3,672 2,165 416 249 317 183 342
* Data through February 23.

Footnotes

1. Millions of dollars.

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Last update: February 24, 2017