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 June 24, 2016Posted June 27, 2016

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
2014 4,926 2,892 736 251 425 292 330 189 109 25 11 18 12 15
2015 6,135 3,973 833 369 460 317 183 226 142 27 16 20 13 8
2016* 6,884 3,889 1,178 366 559 503 389 271 149 39 16 26 22 20
Monthly average
2016-Jan. 7,925 4,444 990 370 774 864 483 337 182 39 14 37 40 25
Feb. 6,742 3,870 950 310 680 624 309 262 146 32 15 31 24 15
Mar. 5,264 2,891 949 359 417 404 244 210 112 31 17 20 16 13
Apr. 5,457 2,584 888 334 503 594 554 224 107 28 14 24 25 26
May 7,978 4,518 1,744 410 503 337 466 306 172 52 19 22 17 24
June* 8,403 5,385 1,599 421 513 204 281 303 187 53 17 24 8 15
Weekly (Friday) average
May 27 7,997 4,731 1,428 507 455 325 551 317 178 52 24 21 17 24
June 3 8,455 4,355 2,535 495 859 138 73 310 168 79 19 34 6 4
June 10 8,378 6,140 1,060 421 542 58 156 313 222 35 18 26 2 9
June 17 7,043 4,388 1,475 557 323 185 114 241 140 48 22 15 7 9
June 24* 9,622 6,329 1,662 189 378 382 682 341 210 55 7 20 16 33
Daily
June 20 11,416 8,523 1,359 475 314 264 482 401 288 51 15 18 11 18
June 21 10,157 5,443 3,301 150 527 256 480 371 190 101 4 24 19 33
June 22 9,700 6,260 846 88 424 1,155 928 336 200 35 5 12 43 41
June 23 8,149 4,128 2,262 232 160 235 1,132 276 121 67 11 20 9 48
June 24 8,689 7,292 544 0 464 0 390 323 249 22 0 26 0 26
* Data through June 24.

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
2014 4,885 2,874 654 614 570 117 55 428 245 57 57 54 11 4
2015 5,085 2,827 638 631 750 189 50 451 228 57 67 77 18 4
2016* 5,377 3,051 666 705 774 147 35 498 266 62 73 79 14 2
Monthly average
2016-Jan. 5,187 2,653 652 773 928 160 21 474 226 59 74 97 16 3
Feb. 5,242 2,750 662 724 905 139 61 500 251 65 73 94 13 4
Mar. 4,831 2,753 651 554 672 177 23 449 247 59 58 68 16 2
Apr. 5,053 2,829 545 700 811 118 49 496 266 61 74 83 10 3
May 5,930 3,509 770 714 718 188 32 552 303 66 83 74 22 2
June* 6,162 3,913 724 799 615 90 20 521 309 59 80 62 9 2
Weekly (Friday) average
May 27 5,333 3,197 609 685 649 165 28 522 290 55 95 64 16 2
June 3 6,502 3,902 845 995 638 113 8 566 309 67 112 64 13 1
June 10 5,789 3,550 545 1,002 563 89 39 509 283 50 98 68 6 3
June 17 6,147 4,063 788 736 483 69 10 491 303 61 68 50 8 1
June 24* 6,295 4,100 756 527 797 98 18 538 343 61 53 68 10 2
Daily
June 20 6,602 3,751 825 753 1,026 180 66 552 324 67 68 68 18 7
June 21 6,033 3,791 991 330 804 116 0 537 333 82 37 73 12 0
June 22 6,970 4,250 744 702 1,187 63 25 601 351 56 70 116 7 1
June 23 5,818 4,040 923 452 349 54 0 501 334 72 44 43 8 0
June 24 6,053 4,666 295 396 618 78 0 500 375 29 48 42 6 0
* Data through June 24.

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
2014 2,983 2,185 148 33 66 107 444 134 97 5 2 3 4 23
2015 1,113 425 118 28 75 106 362 64 28 4 2 4 5 21
2016* 13,257 12,215 232 59 99 107 545 407 352 7 2 5 5 36
Monthly average
2016-Jan. 10,278 8,659 347 94 106 157 916 379 301 11 4 5 8 50
Feb. 13,418 11,884 446 107 128 140 712 463 394 13 4 5 6 41
Mar. 13,468 12,201 332 98 143 126 569 459 397 10 3 7 4 37
Apr. 13,695 12,995 79 13 53 77 479 376 327 3 1 4 4 38
May 14,953 14,390 84 17 41 60 361 392 355 3 1 3 3 27
June* 13,464 12,907 100 24 125 82 227 364 327 3 1 5 4 23
Weekly (Friday) average
May 27 15,169 14,541 135 3 7 63 420 388 357 3 0 1 2 24
June 3 11,469 10,856 116 3 42 82 369 317 274 3 1 2 5 32
June 10 13,927 13,453 76 77 79 93 151 380 346 2 3 4 4 20
June 17 13,437 12,787 145 6 96 127 276 360 320 4 1 4 6 25
June 24* 12,075 11,584 47 1 246 37 160 328 296 2 1 9 2 18
Daily
June 20 12,567 12,410 94 6 11 0 46 341 317 4 2 6 0 12
June 21 13,872 13,659 2 0 35 2 174 362 337 1 0 5 2 17
June 22 11,882 11,539 50 1 0 42 249 336 299 1 1 0 3 32
June 23 14,391 13,510 80 0 380 115 306 374 331 2 0 13 4 24
June 24 7,662 6,801 7 0 804 25 26 227 198 2 0 20 1 6
* Data through June 24.

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
2014 9,408 4,894 794 307 1,624 489 1,300 382 207 37 11 59 20 48
2015 11,484 6,749 1,149 386 1,439 581 1,179 432 257 45 15 52 21 41
2016* 11,398 6,717 1,095 262 1,222 644 1,456 408 239 42 10 45 22 49
Monthly average
2016-Jan. 12,271 7,270 973 341 1,306 765 1,616 445 256 41 13 49 28 58
Feb. 11,630 6,983 1,196 231 1,101 579 1,540 414 238 48 10 43 21 54
Mar. 11,883 6,600 1,398 234 1,233 603 1,815 406 226 50 10 44 21 54
Apr. 10,713 6,558 893 257 1,102 574 1,329 382 234 34 9 41 20 44
May 10,128 6,000 984 258 1,258 461 1,167 378 226 35 9 47 17 43
June* 11,876 7,010 1,091 259 1,354 938 1,224 429 260 40 11 46 29 43
Weekly (Friday) average
May 27 10,048 6,097 938 317 1,460 309 927 368 230 36 11 52 11 28
June 3 11,786 6,681 1,032 364 1,315 932 1,462 430 253 40 20 46 29 41
June 10 10,902 6,712 836 245 906 805 1,398 397 248 30 10 32 26 51
June 17 12,239 7,042 1,135 249 1,648 1,209 957 437 256 41 8 59 34 39
June 24* 12,508 7,602 1,436 234 1,455 693 1,088 446 283 50 7 46 22 37
Daily
June 20 13,889 7,491 764 85 2,874 1,313 1,362 504 274 29 4 99 39 59
June 21 11,296 6,790 1,298 130 1,162 941 974 398 244 45 7 31 27 44
June 22 11,587 7,208 1,977 150 756 358 1,138 430 277 77 4 28 14 30
June 23 13,376 8,714 1,810 446 1,537 251 617 476 328 54 12 49 11 22
June 24 12,394 7,809 1,330 361 947 599 1,348 421 293 47 10 23 18 30
* Data through June 24.

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
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 79,575 50,679 8,793 3,790 6,476 3,184 6,652 3,454 2,013 374 244 373 161 288
2016* 78,078 48,726 8,623 3,607 6,439 3,436 7,248 3,529 1,997 398 246 387 174 327
Monthly average
2016-Jan. 77,137 44,346 8,149 3,879 6,846 4,420 9,498 3,647 1,925 397 254 430 224 417
Feb. 76,176 46,754 7,882 3,802 6,370 2,954 8,413 3,519 1,947 386 266 404 154 362
Mar. 73,187 45,679 8,269 3,308 6,207 2,696 7,028 3,288 1,878 387 231 350 140 301
Apr. 79,677 50,421 8,215 3,525 6,728 3,647 7,141 3,569 2,041 387 238 396 178 328
May 80,726 52,574 9,687 3,375 6,019 3,018 6,053 3,599 2,103 423 239 378 169 287
June* 82,477 52,968 9,633 3,849 6,530 4,120 5,376 3,597 2,106 409 253 372 185 272
Weekly (Friday) average
May 27 80,526 53,016 9,055 4,426 5,998 3,207 4,824 3,559 2,157 399 282 349 157 215
June 3 82,909 50,659 10,303 4,761 7,699 3,560 5,927 3,758 2,108 436 340 427 172 275
June 10 82,367 54,044 8,650 3,497 6,258 4,158 5,759 3,665 2,193 358 273 375 191 274
June 17 81,190 52,491 9,063 4,003 6,008 4,908 4,718 3,441 1,999 384 235 352 208 264
June 24* 81,303 52,119 11,075 3,356 6,364 3,406 4,983 3,515 2,084 480 191 344 156 259
Daily
June 20 87,312 55,359 9,395 4,710 7,131 4,712 6,005 3,702 2,133 428 222 398 213 308
June 21 82,638 53,719 11,396 3,185 5,525 3,507 5,307 3,562 2,087 505 172 344 168 286
June 22 84,265 51,407 13,569 2,571 6,542 4,156 6,020 3,709 2,053 625 180 387 183 281
June 23 83,733 52,166 14,407 3,592 6,818 2,602 4,149 3,577 2,083 556 236 319 125 258
June 24 68,568 47,944 6,607 2,724 5,806 2,053 3,434 3,025 2,065 287 145 272 93 163
* Data through June 24.

Footnotes

1. Millions of dollars.

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Last update: June 27, 2016