Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download FRED

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of March 11, 2026Posted March 12, 2026

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
2024 3,646 2,214 709 291 232 141 59 129 77 22 11 9 6 4
2025 4,343 2,408 790 382 403 220 140 155 83 25 16 17 9 6
2026* 4,904 2,292 1,397 576 372 167 100 161 76 39 22 14 7 3
Monthly average
2025-Oct. 4,506 2,483 999 423 340 150 110 180 103 35 18 14 5 5
Nov. 4,818 2,592 1,065 481 542 136 2 173 85 31 22 27 9 0
Dec. 4,446 2,714 578 489 341 281 43 157 92 18 19 16 10 2
2026-Jan. 4,824 2,339 1,269 567 413 161 75 158 76 36 23 14 7 2
Feb. 4,618 2,327 1,270 457 321 145 99 152 76 36 18 13 6 3
Mar.* 5,780 2,092 2,016 883 391 234 164 187 73 53 30 14 11 7
Weekly (Friday) average
Feb. 13 4,082 1,833 1,214 365 435 105 130 138 62 32 15 17 5 6
Feb. 20 4,438 1,754 1,624 546 179 290 46 144 62 42 20 10 10 1
Feb. 27 4,851 2,849 991 570 249 192 0 161 88 34 24 8 8 0
Mar. 6 5,932 2,254 1,672 1,091 419 286 210 202 83 45 36 15 13 9
Mar. 13* 5,527 1,822 2,589 535 344 148 88 164 55 67 19 11 6 4
Daily
Mar. 5 5,651 364 1,848 2,113 739 258 328 163 9 45 58 21 11 19
Mar. 6 6,531 525 4,834 1,007 22 114 29 191 18 121 42 4 5 1
Mar. 9 6,167 3,111 1,957 590 291 218 0 187 94 55 18 11 9 0
Mar. 10 5,130 1,319 2,620 307 722 127 35 155 41 74 13 19 6 2
Mar. 11 5,285 1,036 3,190 709 20 101 229 149 31 72 27 4 4 11
* Data through March 11.
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
2024 10,068 6,639 1,251 805 782 438 154 674 410 82 65 74 35 8
2025 9,753 6,135 1,164 919 870 366 298 640 378 75 66 73 36 12
2026* 13,031 8,063 1,447 1,474 1,323 307 416 890 532 93 109 106 32 18
Monthly average
2025-Oct. 9,551 5,969 1,086 1,148 845 312 191 668 433 65 79 64 21 6
Nov. 9,698 5,923 1,048 1,156 752 319 500 646 403 61 74 55 38 15
Dec. 8,494 4,795 1,090 874 1,052 286 398 561 318 62 56 84 25 15
2026-Jan. 11,891 7,072 1,415 1,415 1,354 314 321 847 493 93 102 106 36 17
Feb. 14,259 8,922 1,446 1,705 1,363 316 506 958 581 87 130 110 28 22
Mar.* 12,964 8,498 1,530 1,075 1,153 270 438 838 516 105 76 98 30 14
Weekly (Friday) average
Feb. 13 15,267 7,834 1,623 2,231 1,543 364 1,672 1,034 531 103 180 133 30 58
Feb. 20 14,849 9,736 1,348 1,687 1,697 327 55 982 617 85 124 118 35 3
Feb. 27 15,110 10,173 1,488 1,508 1,514 340 86 1,010 639 86 114 135 25 11
Mar. 6 13,045 8,700 1,718 1,092 1,168 255 112 854 550 107 79 84 24 10
Mar. 13* 12,829 8,161 1,218 1,046 1,128 295 981 813 458 102 70 120 40 22
Daily
Mar. 5 13,194 8,087 1,401 1,599 1,662 356 90 896 531 88 103 142 25 7
Mar. 6 11,341 7,744 1,212 1,233 786 267 98 650 439 49 76 49 25 12
Mar. 9 12,444 9,200 871 891 1,193 288 0 923 508 154 74 166 21 0
Mar. 10 12,084 7,534 1,537 1,573 1,051 309 81 816 448 81 90 123 68 6
Mar. 11 13,957 7,750 1,246 673 1,141 287 2,861 700 419 71 45 72 32 61
* Data through March 11.
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
2024 4,778 4,427 189 38 64 10 50 127 116 6 1 2 0 2
2025 4,188 3,834 186 54 39 16 59 114 103 5 1 1 1 3
2026* 4,658 4,478 49 56 22 9 44 134 127 1 1 1 0 3
Monthly average
2025-Oct. 4,478 4,082 115 121 92 14 54 137 123 4 3 3 1 2
Nov. 4,576 4,299 88 56 29 8 96 139 128 4 1 1 0 4
Dec. 4,611 4,359 85 49 55 5 58 133 124 3 2 2 0 3
2026-Jan. 4,974 4,808 50 49 23 13 32 141 135 1 1 1 0 2
Feb. 4,445 4,266 54 56 21 4 44 128 122 1 1 1 0 3
Mar.* 4,375 4,159 34 76 22 9 74 127 121 1 2 1 0 3
Weekly (Friday) average
Feb. 13 4,638 4,376 62 110 42 0 48 125 116 2 3 2 0 3
Feb. 20 4,453 4,364 34 2 48 5 0 133 130 1 0 1 0 0
Feb. 27 4,257 4,071 27 100 1 0 57 121 115 1 2 0 0 3
Mar. 6 4,425 4,292 27 0 30 5 71 127 124 1 0 1 0 2
Mar. 13* 4,292 3,938 45 203 10 17 79 127 115 1 5 1 0 4
Daily
Mar. 5 5,552 5,302 0 0 50 0 200 164 159 0 0 1 0 4
Mar. 6 4,515 4,415 0 0 100 0 0 133 131 0 0 2 0 0
Mar. 9 4,004 3,819 0 0 0 0 185 117 112 0 0 0 0 5
Mar. 10 4,165 4,065 0 100 0 0 0 122 120 0 2 0 0 0
Mar. 11 4,707 3,931 135 510 30 50 51 141 113 4 14 2 1 7
* Data through March 11.
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
2024 22,542 15,680 3,545 517 713 466 1,621 660 449 96 15 24 15 60
2025 20,791 13,932 3,757 416 643 426 1,616 608 402 102 13 22 14 56
2026* 18,345 11,144 4,068 407 546 485 1,696 547 327 114 13 20 17 57
Monthly average
2025-Oct. 20,338 13,448 3,827 497 897 323 1,346 610 403 107 15 31 11 43
Nov. 19,565 12,046 4,014 463 488 523 2,031 587 358 111 14 17 16 72
Dec. 19,832 12,776 3,446 478 634 456 2,043 594 377 92 16 23 16 69
2026-Jan. 17,331 10,650 3,505 497 587 590 1,502 532 321 105 16 21 19 50
Feb. 19,031 11,477 4,352 369 434 428 1,972 564 332 120 12 17 16 67
Mar.* 19,254 11,586 4,801 275 708 358 1,526 545 327 124 8 22 11 54
Weekly (Friday) average
Feb. 13 19,580 11,575 4,622 487 488 360 2,047 572 334 125 13 16 12 73
Feb. 20 20,205 11,841 4,610 350 446 417 2,541 612 340 131 12 27 18 84
Feb. 27 18,699 11,546 4,725 351 374 289 1,413 549 343 125 12 17 8 44
Mar. 6 18,228 11,569 4,073 383 518 417 1,268 525 326 109 10 18 12 51
Mar. 13* 20,963 11,613 6,013 97 1,026 259 1,955 579 330 148 4 29 9 58
Daily
Mar. 5 18,963 14,265 1,958 722 482 159 1,377 534 381 64 17 16 11 45
Mar. 6 16,524 10,569 4,096 100 428 270 1,061 477 274 117 2 17 6 61
Mar. 9 17,847 11,729 2,800 0 1,421 205 1,692 496 333 70 0 39 7 47
Mar. 10 21,798 12,015 7,046 275 716 250 1,496 622 347 180 12 23 11 49
Mar. 11 23,244 11,096 8,193 15 941 322 2,677 620 310 195 1 26 9 79
* Data through March 11.
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
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 122,146 80,064 17,192 4,952 6,646 3,325 9,968 4,727 2,820 590 286 405 193 433
2026* 115,508 69,900 18,335 5,514 6,932 3,376 11,451 4,782 2,706 641 332 425 183 496
Monthly average
2025-Oct. 111,047 68,035 16,232 6,620 7,400 2,589 10,172 4,779 2,776 590 378 433 157 444
Nov. 104,655 61,154 15,975 5,999 6,578 3,785 11,165 4,507 2,490 567 346 407 229 467
Dec. 101,253 60,963 15,294 5,504 6,398 3,134 9,960 4,142 2,384 533 285 372 164 404
2026-Jan. 115,837 70,272 17,156 5,360 7,457 4,117 11,476 4,789 2,706 607 326 450 217 484
Feb. 115,907 69,987 18,572 5,789 6,371 3,058 12,131 4,850 2,740 637 359 417 162 536
Mar.* 113,738 68,766 20,722 5,244 6,951 2,279 9,775 4,603 2,622 735 281 381 151 433
Weekly (Friday) average
Feb. 13 116,711 70,462 18,842 6,209 6,051 3,000 12,146 4,790 2,689 640 407 381 160 513
Feb. 20 117,644 69,054 20,161 6,548 6,712 2,622 12,547 5,037 2,759 724 396 432 146 580
Feb. 27 117,529 71,902 19,079 6,268 6,683 2,755 10,842 4,911 2,836 643 351 467 138 476
Mar. 6 112,318 68,340 19,350 5,380 7,146 2,386 9,718 4,707 2,704 715 297 388 163 440
Mar. 13* 116,105 69,477 23,011 5,018 6,627 2,102 9,869 4,430 2,486 768 254 368 133 421
Daily
Mar. 5 117,774 72,717 13,693 7,499 9,659 1,986 12,221 4,856 2,794 524 384 481 131 542
Mar. 6 108,857 66,276 22,044 5,471 6,398 1,374 7,294 4,472 2,579 765 306 302 157 363
Mar. 9 109,839 71,051 16,203 4,897 6,634 1,959 9,095 4,297 2,605 598 228 380 111 375
Mar. 10 120,032 69,147 28,485 5,348 7,210 2,268 7,573 4,622 2,462 915 281 451 167 346
Mar. 11 118,442 68,234 24,344 4,808 6,037 2,080 12,939 4,371 2,391 791 253 273 120 543
* Data through March 11.

Footnotes

1. Millions of dollars.

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Last Update: March 12, 2026