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 16, 2017Posted February 17, 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* 6,934 3,415 1,412 553 593 457 506 270 128 48 21 27 18 27
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.* 6,614 3,000 1,225 785 732 372 500 257 117 39 28 31 15 27
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* 5,538 2,116 1,211 472 1,038 295 407 222 80 36 20 45 14 26
Daily
Feb. 10 5,566 1,910 1,089 1,047 663 150 708 229 79 40 42 22 3 43
Feb. 13 6,709 3,638 768 114 1,597 141 452 270 148 23 9 59 8 23
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
* Data through February 16.

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* 7,373 4,529 886 686 1,033 188 52 615 362 68 65 96 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.* 6,775 4,233 702 673 991 147 30 593 361 56 66 91 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* 6,943 4,307 755 675 1,069 114 23 623 383 58 70 96 14 2
Daily
Feb. 10 6,516 4,345 460 552 1,091 43 24 549 365 35 54 87 7 1
Feb. 13 7,046 4,870 637 402 1,045 63 30 615 421 50 51 80 10 3
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
* Data through February 16.

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* 9,240 8,706 57 46 75 67 291 309 275 3 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.* 9,594 9,113 33 42 62 33 311 320 290 2 1 4 2 22
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* 9,323 8,980 29 34 65 12 203 318 294 2 1 3 2 16
Daily
Feb. 10 8,176 7,996 25 50 0 25 79 281 274 1 1 0 1 4
Feb. 13 8,618 8,518 18 0 0 0 82 311 298 1 0 0 0 12
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
* Data through February 16.

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* 12,222 7,489 1,333 300 828 799 1,472 466 284 49 11 33 29 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.* 12,022 7,412 1,463 365 665 497 1,620 460 281 53 14 28 22 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* 11,875 7,357 1,375 367 687 384 1,705 463 281 50 16 32 18 66
Daily
Feb. 10 10,340 6,654 1,919 363 341 309 753 407 252 61 13 28 21 32
Feb. 13 10,323 7,120 337 459 393 420 1,594 432 285 22 27 17 12 69
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
* Data through February 16.

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* 77,349 46,229 9,795 3,500 6,166 3,796 7,864 3,682 2,011 425 225 398 202 421
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.* 74,891 45,933 9,041 3,559 5,546 3,056 7,757 3,591 2,011 397 224 369 172 417
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* 76,104 46,746 9,403 3,407 6,328 2,934 7,286 3,637 2,034 404 226 411 168 394
Daily
Feb. 10 65,803 41,845 7,008 3,935 4,361 1,819 6,835 3,237 1,897 320 222 254 119 425
Feb. 13 72,075 47,147 6,538 2,529 6,386 2,018 7,457 3,538 2,165 275 196 406 131 365
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
* Data through February 16.

Footnotes

1. Millions of dollars.

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Last update: February 17, 2017