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 September 3, 2015Posted September 4, 2015

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
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014 4,926 2,892 736 251 425 292 330 189 109 25 11 18 12 15
2015* 5,534 3,571 771 372 420 210 192 206 132 24 16 18 8 8
Monthly average
2015-Apr. 3,658 1,819 618 310 400 223 290 145 80 17 12 16 8 13
May 6,588 4,402 1,104 316 403 148 216 231 154 32 14 16 6 9
June 6,444 4,660 971 489 139 98 87 223 160 29 19 6 5 4
July 5,610 3,805 805 321 367 160 152 206 139 24 15 15 6 7
Aug. 7,622 5,125 987 433 445 498 134 274 180 31 20 19 18 7
Sept.* 8,359 6,893 757 166 348 123 71 286 230 21 9 18 5 3
Weekly (Friday) average
Aug. 7 9,243 5,909 1,656 335 359 679 304 314 200 50 15 14 24 12
Aug. 14 6,443 4,248 491 576 187 789 152 242 153 18 26 10 27 8
Aug. 21 8,332 5,794 1,416 447 273 344 59 279 187 43 17 12 14 5
Aug. 28 6,273 4,443 500 282 825 183 39 254 177 15 14 35 9 3
Sept. 4* 8,422 6,582 672 348 545 210 63 294 220 18 18 25 8 3
Daily
Aug. 28 3,524 2,659 159 317 226 103 60 167 134 4 10 12 3 4
Aug. 31 8,611 5,650 417 894 1,137 473 40 317 193 10 48 48 16 2
Sept. 1 12,070 10,955 111 419 484 50 50 413 362 5 18 24 2 2
Sept. 2 8,026 6,714 829 51 219 213 0 272 219 23 3 17 10 0
Sept. 3 4,980 3,010 1,331 29 342 105 163 172 108 36 5 12 3 8
* Data through September 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
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014 4,885 2,874 654 614 570 117 55 428 245 57 57 54 11 4
2015* 5,232 2,939 659 649 761 171 53 461 234 58 69 79 16 4
Monthly average
2015-Apr. 4,759 2,488 535 645 850 180 61 452 220 49 74 87 18 5
May 5,336 2,882 640 760 776 196 83 448 211 60 74 78 18 6
June 4,572 2,611 529 504 679 211 37 392 198 46 55 73 17 4
July 4,809 2,731 523 575 798 136 46 407 197 51 61 82 14 4
Aug. 4,893 2,936 479 533 712 177 55 435 217 51 62 82 20 3
Sept.* 3,946 1,963 389 555 838 187 15 389 174 46 53 100 15 1
Weekly (Friday) average
Aug. 7 4,902 2,646 478 728 860 162 29 446 190 44 92 97 18 4
Aug. 14 4,822 2,798 431 577 756 157 103 423 198 50 67 87 18 3
Aug. 21 4,847 2,943 680 398 627 163 37 434 230 70 42 75 15 2
Aug. 28 5,065 3,388 308 448 610 253 59 438 248 36 50 69 30 5
Sept. 4* 4,101 2,167 439 525 802 153 15 403 186 54 51 96 14 2
Daily
Aug. 28 4,624 3,534 192 402 403 83 10 406 273 16 45 57 13 2
Aug. 31 4,566 2,779 589 436 694 53 16 445 224 77 45 84 11 4
Sept. 1 4,827 2,227 346 553 1,475 223 2 478 202 43 46 165 21 1
Sept. 2 3,607 1,888 311 540 547 321 0 338 159 43 52 63 21 0
Sept. 3 3,404 1,775 509 571 491 17 41 352 161 52 61 72 3 3
* Data through September 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
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014 2,983 2,185 148 33 66 107 444 134 97 5 2 3 4 23
2015* 1,167 463 153 28 86 110 328 64 30 6 1 4 5 18
Monthly average
2015-Apr. 963 375 182 57 35 60 255 56 29 7 3 2 3 12
May 1,103 362 154 56 151 104 276 54 23 5 2 6 5 13
June 1,249 581 48 16 137 110 356 69 36 2 1 7 5 19
July 1,410 514 175 16 124 202 379 66 25 5 1 6 9 20
Aug. 1,317 458 290 48 150 135 236 66 25 9 2 7 7 16
Sept.* 1,477 394 178 24 41 50 789 76 25 6 2 3 4 36
Weekly (Friday) average
Aug. 7 1,534 628 291 137 127 167 184 72 28 9 4 6 9 16
Aug. 14 1,346 452 339 10 239 189 117 68 26 10 2 10 9 12
Aug. 21 1,496 451 363 44 147 146 346 71 27 11 1 6 7 19
Aug. 28 997 325 206 10 118 41 297 59 22 7 1 7 3 20
Sept. 4* 1,306 378 158 18 31 69 651 68 24 6 1 3 4 30
Daily
Aug. 28 739 379 153 0 0 1 206 54 23 5 0 0 1 25
Aug. 31 794 329 100 0 2 125 238 45 21 6 0 2 3 13
Sept. 1 1,340 444 145 61 124 137 430 86 27 4 4 10 5 36
Sept. 2 700 396 239 10 0 14 41 45 24 10 1 0 5 5
Sept. 3 2,390 344 150 0 0 1 1,896 97 23 5 0 0 2 67
* Data through September 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
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014 9,408 4,894 794 307 1,624 489 1,300 382 207 37 11 59 20 48
2015* 10,591 6,103 938 361 1,479 574 1,138 408 240 40 14 52 21 41
Monthly average
2015-Apr. 8,018 4,601 531 279 1,362 550 694 333 199 26 11 49 20 27
May 11,516 6,799 984 389 1,648 600 1,096 413 248 41 14 53 20 37
June 14,026 8,395 1,661 455 1,497 621 1,398 478 284 60 18 49 22 46
July 11,454 7,040 1,096 346 1,417 625 928 424 260 43 14 49 23 35
Aug. 11,627 7,593 829 352 1,258 593 1,003 455 288 40 15 53 22 37
Sept.* 12,687 8,339 1,147 296 1,384 371 1,150 483 302 51 10 67 17 36
Weekly (Friday) average
Aug. 7 11,646 7,284 933 411 883 813 1,322 466 286 45 14 42 26 53
Aug. 14 11,513 7,693 832 467 1,237 608 676 457 291 44 20 48 23 30
Aug. 21 12,323 7,645 712 354 1,535 647 1,431 471 279 36 18 67 26 45
Aug. 28 11,415 7,723 894 156 1,545 370 727 446 294 40 10 61 16 25
Sept. 4* 11,936 8,185 997 335 1,142 342 935 450 298 42 10 55 14 31
Daily
Aug. 28 11,068 8,050 1,486 122 956 35 420 417 305 53 11 31 3 14
Aug. 31 9,685 7,725 548 449 418 256 288 351 285 16 11 17 7 15
Sept. 1 12,808 8,175 1,263 290 1,412 510 1,158 478 291 48 10 70 22 37
Sept. 2 12,920 8,117 958 341 1,786 391 1,328 500 304 40 12 89 19 36
Sept. 3 12,332 8,725 1,220 258 954 211 965 471 312 64 7 43 10 35
* Data through September 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
2013 77,384 48,518 9,644 3,265 6,513 2,586 6,858 3,190 1,889 364 188 326 129 295
2014 80,421 53,016 8,737 3,196 6,334 2,595 6,543 3,450 2,129 367 195 334 131 294
2015* 79,202 50,667 8,619 3,636 6,504 3,059 6,717 3,407 1,996 361 238 372 153 286
Monthly average
2015-Apr. 71,826 44,963 8,510 3,542 6,235 2,669 5,908 3,143 1,812 341 233 364 139 254
May 85,538 56,367 9,160 3,450 6,712 2,791 7,058 3,423 2,030 368 227 368 144 285
June 83,042 53,574 9,310 3,594 6,057 3,295 7,213 3,378 2,000 369 226 338 155 291
July 76,364 48,339 7,783 3,425 6,397 3,215 7,204 3,225 1,864 333 219 364 156 289
Aug. 78,229 50,986 8,537 3,630 6,375 3,661 5,040 3,516 2,083 361 242 402 181 248
Sept.* 82,579 50,772 8,901 3,923 6,954 2,803 9,226 3,716 2,093 407 256 440 154 366
Weekly (Friday) average
Aug. 7 79,036 50,431 9,412 4,035 5,854 4,500 4,803 3,551 2,060 378 273 389 206 246
Aug. 14 79,756 53,596 7,789 3,979 5,751 4,282 4,359 3,527 2,110 344 271 381 205 217
Aug. 21 80,531 50,970 9,438 3,876 7,647 3,513 5,087 3,610 2,087 409 236 460 165 252
Aug. 28 76,734 50,562 8,381 2,718 5,956 2,650 6,467 3,490 2,118 340 196 375 165 296
Sept. 4* 77,562 48,805 7,720 3,740 7,173 2,640 7,485 3,525 2,037 365 243 430 138 311
Daily
Aug. 28 68,196 47,628 5,630 2,422 3,859 1,734 6,924 3,102 2,067 222 172 239 114 288
Aug. 31 62,512 42,905 4,177 3,189 7,828 2,151 2,262 2,952 1,869 241 203 401 92 146
Sept. 1 86,853 54,314 7,950 4,341 8,515 3,119 8,614 3,801 2,224 299 241 558 143 336
Sept. 2 85,951 50,960 8,670 3,809 6,867 4,153 11,493 3,876 2,100 422 246 430 227 451
Sept. 3 74,932 47,041 10,083 3,620 5,481 1,137 7,571 3,471 1,955 499 281 333 92 311
* Data through September 3.

Footnotes

1. Millions of dollars.

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Last update: September 4, 2015