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 December 7, 2016Posted December 8, 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* 7,278 4,227 1,324 382 505 504 336 282 158 43 17 24 22 19
Monthly average
2016-July 6,666 3,957 1,086 273 414 521 415 275 152 42 15 19 25 23
Aug. 6,850 4,659 1,022 237 369 319 244 267 171 34 13 19 14 16
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.* 9,842 4,867 2,687 562 408 876 441 362 177 79 32 23 32 19
Weekly (Friday) average
Nov. 11 7,289 4,220 1,733 333 275 645 84 286 157 56 16 15 33 8
Nov. 18 9,759 5,084 1,181 1,296 897 953 348 345 169 38 48 38 33 19
Nov. 25 5,839 1,488 3,532 357 233 171 57 196 52 105 15 15 6 3
Dec. 2 7,504 3,104 2,574 526 401 647 252 276 113 76 27 22 24 13
Dec. 9* 10,743 6,534 2,283 300 470 633 523 403 242 68 18 24 28 22
Daily
Dec. 1 8,132 2,892 1,230 1,566 320 1,859 264 319 103 44 87 22 53 10
Dec. 2 8,846 1,841 5,356 345 308 623 373 280 56 148 16 18 23 19
Dec. 5 10,947 7,040 2,243 319 706 401 238 417 268 68 20 36 14 11
Dec. 6 10,212 5,851 2,125 252 492 862 631 405 250 55 9 25 41 25
Dec. 7 11,071 6,712 2,481 329 213 636 700 387 209 82 26 12 29 29
* Data through December 7.

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* 5,545 3,275 696 643 736 159 36 501 279 63 66 75 16 2
Monthly average
2016-July 5,946 3,506 737 801 760 91 52 530 287 64 83 85 9 3
Aug. 5,790 3,632 792 535 700 109 24 508 298 69 57 69 13 2
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.* 6,344 3,574 892 661 806 373 38 541 303 65 58 73 40 2
Weekly (Friday) average
Nov. 11 5,752 3,662 801 333 776 170 9 506 304 69 32 83 16 1
Nov. 18 6,381 3,813 437 817 896 391 28 543 305 39 64 94 40 1
Nov. 25 4,233 1,701 1,429 206 540 316 41 374 153 122 23 43 30 2
Dec. 2 5,962 3,612 671 624 669 368 17 516 312 50 61 60 32 1
Dec. 9* 6,272 3,458 1,099 523 795 362 35 552 294 82 51 75 46 2
Daily
Dec. 1 6,597 3,633 917 818 816 330 83 553 319 62 71 66 32 3
Dec. 2 6,311 3,863 249 918 830 448 3 499 312 17 67 75 27 1
Dec. 5 5,991 3,848 786 327 756 224 50 553 352 58 38 78 25 2
Dec. 6 6,493 3,278 902 753 1,014 491 54 581 266 70 81 93 66 5
Dec. 7 6,330 3,249 1,608 489 613 371 0 521 264 119 35 55 48 0
* Data through December 7.

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* 11,325 10,461 201 48 84 97 435 350 300 6 2 4 5 32
Monthly average
2016-July 10,768 9,863 317 36 71 66 415 309 258 9 2 4 3 33
Aug. 10,603 9,753 307 57 80 76 331 317 267 8 3 4 5 31
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.* 7,771 7,215 200 27 82 59 189 272 233 8 2 5 5 18
Weekly (Friday) average
Nov. 11 6,906 6,625 48 25 77 75 57 236 212 2 1 4 2 14
Nov. 18 8,198 7,706 37 45 75 103 232 278 249 1 2 4 4 18
Nov. 25 7,727 7,108 409 12 14 52 131 256 223 14 1 2 3 13
Dec. 2 6,573 6,237 56 29 13 98 140 222 196 4 2 2 5 13
Dec. 9* 8,489 7,825 255 26 135 40 208 298 252 10 3 7 6 20
Daily
Dec. 1 7,001 6,581 122 5 5 172 117 241 210 6 1 4 5 15
Dec. 2 6,389 6,016 114 52 0 0 207 223 200 7 2 0 0 14
Dec. 5 6,531 6,178 65 72 52 36 128 271 217 3 6 5 7 33
Dec. 6 10,283 9,172 512 7 245 12 335 342 285 18 2 13 5 19
Dec. 7 8,652 8,126 187 0 107 72 160 281 255 8 0 3 7 8
* Data through December 7.

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* 12,235 7,488 1,115 356 1,176 615 1,485 439 267 42 13 43 21 53
Monthly average
2016-July 13,184 7,755 1,130 537 1,773 795 1,194 469 276 40 17 62 24 50
Aug. 12,862 8,001 911 410 1,395 448 1,697 462 283 36 13 50 18 61
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.* 12,504 8,280 1,069 288 597 441 1,829 485 318 44 11 25 17 71
Weekly (Friday) average
Nov. 11 12,398 8,646 1,055 176 494 312 1,715 463 319 40 7 23 9 65
Nov. 18 13,700 8,812 1,100 438 874 1,041 1,435 497 321 39 19 37 26 55
Nov. 25 9,422 5,222 2,594 234 253 281 839 358 207 94 9 10 10 29
Dec. 2 12,037 7,661 1,286 474 716 319 1,582 466 299 51 22 27 12 54
Dec. 9* 12,708 8,597 1,225 176 623 503 1,583 502 330 50 7 26 19 70
Daily
Dec. 1 13,585 8,594 692 562 771 304 2,662 503 316 38 19 31 13 86
Dec. 2 10,810 7,014 975 347 346 392 1,734 419 284 33 13 15 16 58
Dec. 5 12,164 8,121 854 244 788 637 1,520 484 309 42 8 35 28 62
Dec. 6 13,153 8,952 1,695 77 228 547 1,655 531 362 57 6 9 18 79
Dec. 7 12,807 8,719 1,127 208 854 325 1,574 490 318 51 7 35 10 69
* Data through December 7.

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* 78,499 49,238 9,246 3,623 6,223 3,387 6,782 3,539 2,009 411 237 376 176 331
Monthly average
2016-July 81,971 50,427 10,241 4,024 7,149 3,941 6,190 3,650 2,009 450 253 427 194 318
Aug. 81,055 52,048 10,157 3,366 6,418 2,865 6,200 3,619 2,069 436 210 390 167 346
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.* 76,314 46,286 10,722 4,022 5,510 3,493 6,282 3,528 1,973 459 258 331 204 303
Weekly (Friday) average
Nov. 11 73,808 47,704 9,699 2,174 5,850 2,924 5,457 3,432 1,983 420 152 400 167 310
Nov. 18 77,845 48,129 7,694 5,321 5,922 4,485 6,294 3,568 2,006 301 307 388 221 345
Nov. 25 61,012 31,798 16,901 2,489 3,220 2,351 4,252 2,767 1,342 706 149 212 136 221
Dec. 2 71,114 42,162 10,951 4,158 4,770 3,697 5,375 3,334 1,882 437 285 273 197 260
Dec. 9* 80,679 51,158 11,027 2,929 5,783 3,133 6,650 3,698 2,114 486 199 354 218 327
Daily
Dec. 1 74,679 40,972 9,663 6,071 5,999 6,025 5,950 3,503 1,806 445 392 338 251 271
Dec. 2 64,853 36,985 10,865 5,249 4,200 2,045 5,508 3,042 1,715 390 302 257 116 262
Dec. 5 69,328 44,839 7,286 2,775 5,984 2,336 6,108 3,423 2,057 362 187 368 158 291
Dec. 6 85,975 55,563 10,937 2,942 5,946 3,626 6,962 3,922 2,234 468 230 375 263 352
Dec. 7 86,736 53,072 14,859 3,070 5,418 3,437 6,880 3,750 2,051 629 180 319 232 339
* Data through December 7.

Footnotes

1. Millions of dollars.

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Last update: December 8, 2016