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 March 25, 2015Posted March 26, 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* 4,717 2,824 576 363 539 196 219 188 111 20 16 23 8 10
Monthly average
2014-Oct. 4,366 2,397 946 232 448 172 172 169 95 31 10 18 7 9
Nov. 5,845 3,714 781 283 514 269 285 211 129 26 11 21 12 13
Dec. 5,808 3,955 919 280 269 149 236 227 152 34 13 12 7 10
2015-Jan. 4,944 3,033 240 416 660 351 243 194 114 8 19 27 14 11
Feb. 4,805 2,869 580 285 597 158 316 188 108 20 14 26 7 14
Mar.* 4,372 2,545 944 386 342 65 90 182 112 33 15 15 3 4
Weekly (Friday) average
Feb. 27 5,202 2,720 702 435 796 89 461 213 108 21 17 40 5 22
Mar. 6 4,459 2,658 915 174 623 28 60 174 106 28 9 27 2 2
Mar. 13 4,792 2,587 759 860 353 32 202 201 114 29 32 16 2 8
Mar. 20 3,309 1,932 882 331 75 79 10 151 98 33 11 4 4 0
Mar. 27* 5,297 3,308 1,405 40 299 156 90 214 139 49 3 9 8 6
Daily
Mar. 19 3,149 1,748 1,286 65 50 0 0 127 84 37 4 2 0 0
Mar. 20 3,671 2,101 671 536 313 50 0 196 141 19 18 17 1 0
Mar. 23 5,890 4,675 1,112 0 2 0 100 227 178 45 0 1 0 3
Mar. 24 5,850 3,483 1,179 83 770 292 42 231 144 35 7 24 19 2
Mar. 25 4,150 1,764 1,923 36 125 175 127 185 95 66 3 3 5 13
* Data through March 25.

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* 6,028 3,400 909 753 758 159 51 530 284 73 77 77 15 4
Monthly average
2014-Oct. 5,227 3,179 693 622 574 121 38 437 260 60 53 50 10 4
Nov. 5,184 2,728 609 961 594 220 72 436 227 50 79 55 20 5
Dec. 4,959 2,853 601 583 657 175 90 427 231 51 58 63 17 6
2015-Jan. 5,727 3,039 889 810 806 143 40 507 256 76 75 80 15 4
Feb. 6,088 3,494 961 824 596 134 79 521 283 68 89 62 13 6
Mar.* 6,301 3,702 875 613 875 203 33 567 317 76 66 90 17 2
Weekly (Friday) average
Feb. 27 5,987 3,781 722 816 503 108 56 503 294 55 86 49 14 5
Mar. 6 7,176 4,325 920 756 915 219 41 612 340 82 83 89 17 2
Mar. 13 5,776 3,309 725 672 818 207 45 523 283 65 76 80 18 2
Mar. 20 6,145 3,736 924 523 739 202 22 565 337 76 54 80 17 1
Mar. 27* 5,974 3,262 971 427 1,127 173 14 567 302 86 39 123 14 3
Daily
Mar. 19 5,764 3,270 806 507 815 366 0 538 297 74 55 92 20 0
Mar. 20 6,301 4,013 1,175 313 726 75 0 576 379 84 33 75 5 0
Mar. 23 5,824 3,809 692 335 869 117 0 556 346 60 20 119 11 0
Mar. 24 5,394 2,898 1,132 186 990 189 0 497 278 86 19 99 15 0
Mar. 25 6,703 3,078 1,088 761 1,523 213 41 649 281 112 79 151 17 9
* Data through March 25.

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* 1,121 489 127 9 33 94 369 68 34 6 1 2 4 21
Monthly average
2014-Oct. 4,862 4,151 173 25 53 80 380 231 200 6 1 3 3 18
Nov. 1,485 857 36 19 60 123 391 83 50 1 1 3 6 22
Dec. 1,166 507 83 18 49 135 374 63 32 4 1 3 4 20
2015-Jan. 1,185 473 119 3 34 113 443 71 34 5 1 2 5 25
Feb. 1,116 489 125 6 18 87 391 65 32 6 1 2 3 21
Mar.* 1,055 506 137 19 48 81 264 69 36 7 1 4 4 17
Weekly (Friday) average
Feb. 27 991 355 107 6 21 82 420 70 29 7 1 3 4 26
Mar. 6 1,032 568 125 25 35 29 249 64 38 4 1 2 4 16
Mar. 13 1,217 469 184 9 40 121 393 82 34 9 0 6 5 28
Mar. 20 974 455 118 34 78 53 237 68 37 8 2 5 4 12
Mar. 27* 960 549 112 2 33 149 115 57 36 5 1 4 4 9
Daily
Mar. 19 1,039 416 262 40 152 12 157 84 36 24 2 10 2 10
Mar. 20 850 516 1 52 110 53 118 57 38 4 3 4 3 5
Mar. 23 917 678 35 0 71 120 12 56 41 2 0 7 3 3
Mar. 24 1,005 464 0 1 18 278 244 57 33 0 1 2 8 13
Mar. 25 958 503 300 5 10 50 90 59 33 12 1 2 1 10
* Data through March 25.

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* 9,386 4,735 788 361 1,578 544 1,380 390 212 37 14 56 21 50
Monthly average
2014-Oct. 8,280 4,032 828 295 1,511 536 1,077 359 183 40 12 57 21 46
Nov. 10,463 5,144 946 447 1,563 679 1,684 423 213 43 17 57 27 66
Dec. 10,202 5,503 969 309 1,493 533 1,395 390 225 39 11 50 20 47
2015-Jan. 8,581 4,101 687 298 1,638 567 1,289 368 194 33 12 58 22 49
Feb. 10,020 5,103 791 375 1,611 489 1,652 412 226 37 15 56 19 58
Mar.* 9,611 5,051 897 416 1,477 577 1,194 391 218 40 15 53 22 44
Weekly (Friday) average
Feb. 27 9,907 5,430 945 282 968 868 1,413 413 250 40 13 35 24 51
Mar. 6 9,252 4,977 986 420 906 578 1,385 379 216 41 14 33 25 49
Mar. 13 9,573 4,977 1,052 350 1,388 574 1,233 394 219 45 15 47 20 48
Mar. 20 10,913 5,688 843 546 2,243 645 948 427 239 38 16 77 22 35
Mar. 27* 8,100 4,234 579 301 1,302 466 1,218 346 183 31 12 54 19 46
Daily
Mar. 19 10,064 6,344 564 265 1,665 735 491 407 251 30 8 57 23 38
Mar. 20 11,129 5,518 948 745 2,744 746 428 424 223 47 28 85 23 18
Mar. 23 8,487 5,023 500 306 1,326 90 1,242 345 203 34 15 48 4 41
Mar. 24 7,694 4,469 332 182 727 788 1,196 327 191 18 10 30 30 48
Mar. 25 8,119 3,210 905 416 1,854 519 1,216 365 156 40 12 85 22 50
* Data through March 25.

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* 80,488 50,902 8,812 3,871 6,810 2,985 7,108 3,552 2,071 381 255 383 152 310
Monthly average
2014-Oct. 81,536 54,478 8,703 3,523 5,818 2,741 6,272 3,513 2,193 378 205 316 136 284
Nov. 91,847 61,892 9,409 4,392 5,878 3,322 6,954 3,788 2,336 395 254 318 163 321
Dec. 83,468 57,827 7,854 3,318 5,991 3,068 5,409 3,502 2,274 337 199 312 151 229
2015-Jan. 80,779 50,071 8,372 3,847 7,219 3,696 7,573 3,554 2,023 369 253 407 179 322
Feb. 82,508 52,158 9,107 4,075 6,720 2,546 7,903 3,596 2,104 382 276 366 128 340
Mar.* 78,033 50,498 8,991 3,683 6,451 2,658 5,751 3,504 2,090 392 234 376 147 265
Weekly (Friday) average
Feb. 27 80,470 49,806 9,156 4,183 7,114 2,515 7,696 3,572 2,047 385 293 381 117 348
Mar. 6 79,771 52,537 8,739 3,425 6,163 2,526 6,381 3,577 2,162 384 242 342 146 302
Mar. 13 77,007 49,398 8,574 4,275 6,409 2,643 5,708 3,437 1,991 379 279 378 137 274
Mar. 20 75,055 47,888 9,424 3,939 6,694 2,629 4,481 3,372 2,038 393 220 376 140 206
Mar. 27* 81,807 53,283 9,385 2,701 6,592 2,954 6,891 3,711 2,223 428 172 429 175 285
Daily
Mar. 19 69,056 45,610 7,053 3,658 6,240 2,825 3,670 3,212 1,941 347 247 339 123 215
Mar. 20 74,822 47,090 7,739 4,806 8,202 2,282 4,703 3,415 2,134 336 222 402 125 196
Mar. 23 79,367 54,850 6,907 2,768 7,654 2,399 4,790 3,692 2,350 330 150 491 155 216
Mar. 24 80,870 51,597 11,805 1,576 5,338 3,504 7,050 3,596 2,162 486 121 342 207 278
Mar. 25 85,184 53,403 9,443 3,760 6,785 2,959 8,834 3,846 2,156 468 244 453 164 361
* Data through March 25.

Footnotes

1. Millions of dollars.

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Last update: March 26, 2015