Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of March 17, 2025Posted March 18, 2025

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
2023 3,510 2,629 291 186 213 106 85 122 88 9 8 9 4 4
2024 3,646 2,214 709 291 232 141 59 129 77 22 11 9 6 4
2025* 3,833 2,040 757 303 407 201 125 127 66 22 12 15 8 5
Monthly average
2024-Oct. 4,628 3,380 614 257 177 75 126 166 114 19 10 7 3 12
Nov. 3,993 2,231 701 657 236 108 59 137 73 22 23 9 6 4
Dec. 3,920 2,566 653 317 274 79 32 129 86 18 12 9 2 2
2025-Jan. 3,473 2,079 878 173 141 179 22 113 67 26 7 6 7 1
Feb. 4,147 2,170 765 351 440 243 179 137 72 22 13 15 8 6
Mar.* 3,980 1,742 514 466 858 170 229 135 52 15 18 32 8 9
Weekly (Friday) average
Feb. 21 4,333 2,376 1,035 194 521 44 164 139 77 27 10 19 1 5
Feb. 28 3,721 2,121 222 578 227 285 289 126 69 9 19 10 10 9
Mar. 7 3,663 2,031 481 122 614 174 240 125 66 11 5 22 11 9
Mar. 14 3,936 789 597 882 1,248 161 259 139 23 21 33 47 5 10
Mar. 21* 5,784 5,070 264 112 125 192 22 157 129 9 6 4 8 1
Daily
Mar. 11 5,208 0 1,024 2,366 1,018 455 345 189 0 45 75 49 12 8
Mar. 12 2,951 38 475 878 1,296 20 244 103 2 12 34 45 1 9
Mar. 13 3,266 1,134 3 540 1,321 114 154 122 27 1 29 54 4 7
Mar. 14 2,866 639 390 0 1,545 188 104 89 19 9 0 50 8 3
Mar. 17 5,784 5,070 264 112 125 192 22 157 129 9 6 4 8 1
* Data through March 17.
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
2023 10,274 6,688 1,183 921 1,060 241 181 838 471 93 91 140 31 12
2024 10,068 6,639 1,251 805 782 438 154 674 410 82 65 74 35 8
2025* 11,019 6,945 1,453 969 922 377 354 699 397 98 71 82 38 13
Monthly average
2024-Oct. 9,563 6,572 1,167 652 588 568 15 623 410 78 48 49 36 2
Nov. 9,079 5,668 1,170 1,117 624 401 98 599 365 79 79 47 26 3
Dec. 8,980 5,666 1,174 684 656 483 318 584 352 79 54 63 28 9
2025-Jan. 10,444 6,573 1,416 934 919 385 218 664 377 92 71 80 39 6
Feb. 11,464 7,200 1,611 1,002 890 389 373 738 420 105 70 84 43 14
Mar.* 11,349 7,214 1,252 978 983 342 579 701 397 98 72 83 28 23
Weekly (Friday) average
Feb. 21 12,452 7,897 1,251 784 835 148 1,538 739 475 75 52 81 20 36
Feb. 28 11,867 7,485 2,099 876 949 375 83 770 431 140 63 76 45 14
Mar. 7 10,947 7,386 1,381 740 1,028 252 162 672 392 98 51 81 26 25
Mar. 14 11,660 6,938 1,169 1,165 847 434 1,108 713 397 99 88 74 29 26
Mar. 21* 11,802 7,740 1,018 1,241 1,442 339 22 786 420 93 105 133 33 2
Daily
Mar. 11 9,950 6,090 947 1,843 851 151 67 696 391 75 139 67 16 8
Mar. 12 14,325 6,339 1,988 1,380 1,044 217 3,357 754 344 149 96 61 27 77
Mar. 13 13,128 7,487 1,094 1,164 672 614 2,097 731 419 94 68 70 36 44
Mar. 14 10,882 7,645 1,021 963 956 275 22 660 451 48 55 82 23 1
Mar. 17 11,802 7,740 1,018 1,241 1,442 339 22 786 420 93 105 133 33 2
* Data through March 17.
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
2023 7,628 6,657 581 102 130 82 76 209 178 18 3 3 2 5
2024 4,778 4,427 189 38 64 10 50 127 116 6 1 2 0 2
2025* 3,512 3,069 271 84 27 11 48 86 73 7 2 1 0 2
Monthly average
2024-Oct. 5,862 5,407 136 63 224 10 23 153 139 4 2 7 0 2
Nov. 4,940 4,472 292 58 49 19 50 134 120 7 2 2 1 2
Dec. 4,487 3,934 176 137 31 8 200 128 109 5 4 1 0 8
2025-Jan. 3,334 2,823 316 81 35 17 63 84 69 8 2 1 1 3
Feb. 3,657 3,144 333 113 26 4 36 88 75 8 3 1 0 2
Mar.* 3,600 3,411 80 41 14 11 42 84 78 2 1 1 1 2
Weekly (Friday) average
Feb. 21 3,878 3,323 389 38 75 0 54 100 86 9 1 2 0 3
Feb. 28 3,284 2,770 445 10 15 7 37 74 61 11 0 0 0 1
Mar. 7 3,749 3,626 65 0 30 3 25 93 89 2 0 2 0 1
Mar. 14 3,518 3,240 111 90 0 22 55 78 70 3 2 0 1 2
Mar. 21* 3,262 3,195 0 0 0 0 67 72 69 0 0 0 0 3
Daily
Mar. 11 3,365 3,045 100 100 0 100 20 77 67 2 2 0 4 2
Mar. 12 3,938 3,395 178 277 0 0 88 87 73 6 6 0 0 2
Mar. 13 3,690 3,270 275 75 0 0 70 81 70 6 2 0 0 3
Mar. 14 3,275 3,195 0 0 0 10 70 72 69 0 0 0 1 2
Mar. 17 3,262 3,195 0 0 0 0 67 72 69 0 0 0 0 3
* Data through March 17.
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
2023 16,214 9,705 3,223 487 860 509 1,431 506 300 89 16 28 16 56
2024 22,542 15,680 3,545 517 713 466 1,621 660 449 96 15 24 15 60
2025* 20,872 14,396 3,502 383 607 408 1,575 599 405 95 11 20 13 56
Monthly average
2024-Oct. 21,435 14,252 3,848 526 707 279 1,823 637 419 103 16 24 10 65
Nov. 22,928 14,984 3,834 600 666 597 2,248 659 429 102 16 20 18 74
Dec. 21,665 14,626 3,446 675 689 352 1,878 624 415 91 19 23 11 65
2025-Jan. 20,719 14,287 3,684 382 586 354 1,425 600 408 98 11 19 11 52
Feb. 21,590 14,871 3,474 404 625 403 1,813 613 412 94 11 20 13 63
Mar.* 19,923 13,784 3,203 348 618 520 1,450 573 387 89 10 19 15 52
Weekly (Friday) average
Feb. 21 22,981 14,902 4,369 572 635 562 1,942 647 408 119 14 24 15 68
Feb. 28 20,733 14,993 3,139 217 618 325 1,441 573 404 84 6 19 12 49
Mar. 7 19,404 12,881 3,377 460 668 637 1,382 559 364 93 11 21 18 53
Mar. 14 20,704 14,517 3,424 301 477 469 1,516 594 407 95 12 14 14 53
Mar. 21* 18,616 14,631 1,231 30 1,067 195 1,462 533 404 35 1 39 5 49
Daily
Mar. 11 24,114 14,513 7,302 296 233 584 1,187 668 407 193 9 7 19 33
Mar. 12 21,321 15,230 3,191 527 472 423 1,478 612 420 86 24 13 10 59
Mar. 13 17,907 13,732 1,816 154 450 422 1,334 516 379 62 6 15 12 42
Mar. 14 21,870 13,967 3,675 435 928 556 2,309 617 385 98 11 24 16 83
Mar. 17 18,616 14,631 1,231 30 1,067 195 1,462 533 404 35 1 39 5 49
* Data through March 17.
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
2023 115,630 78,012 15,262 4,619 6,585 2,951 8,202 4,625 2,730 546 286 462 178 423
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* 122,821 80,701 17,854 4,293 6,434 3,364 10,176 4,569 2,679 588 251 410 187 454
Monthly average
2024-Oct. 118,372 77,881 16,641 4,643 6,567 2,927 9,713 4,549 2,705 589 262 361 171 461
Nov. 120,972 79,297 16,565 5,773 6,049 3,698 9,590 4,488 2,664 581 306 317 188 432
Dec. 111,921 73,278 15,091 4,993 6,206 3,089 9,264 4,179 2,506 510 256 347 161 399
2025-Jan. 120,403 77,804 18,794 4,098 6,651 3,680 9,376 4,504 2,598 607 239 417 210 432
Feb. 124,227 81,885 18,187 4,263 5,968 3,336 10,588 4,623 2,720 600 241 396 185 481
Mar.* 125,009 84,189 15,484 4,717 6,822 2,807 10,989 4,602 2,764 531 292 422 147 447
Weekly (Friday) average
Feb. 21 132,684 84,941 22,673 3,977 5,938 3,756 11,398 4,886 2,848 702 247 437 176 476
Feb. 28 119,710 83,898 14,382 4,209 6,354 3,260 7,608 4,458 2,745 527 230 369 201 385
Mar. 7 124,574 83,146 15,153 4,263 7,961 2,698 11,354 4,612 2,748 516 246 464 144 493
Mar. 14 126,426 84,682 16,638 5,343 5,900 2,803 11,060 4,618 2,762 560 343 385 149 419
Mar. 21* 120,101 86,944 11,372 3,859 5,743 3,372 8,812 4,472 2,851 458 263 395 149 356
Daily
Mar. 11 129,001 83,573 19,670 7,198 4,753 2,902 10,905 4,833 2,773 692 456 339 171 402
Mar. 12 130,390 84,577 16,567 5,338 6,154 2,701 15,053 4,585 2,686 558 329 375 133 504
Mar. 13 128,583 85,661 17,187 4,740 6,186 2,384 12,426 4,663 2,742 588 312 471 115 435
Mar. 14 127,236 85,421 18,528 4,415 6,788 3,280 8,804 4,450 2,770 534 251 346 171 378
Mar. 17 120,101 86,944 11,372 3,859 5,743 3,372 8,812 4,472 2,851 458 263 395 149 356
* Data through March 17.

Footnotes

1. Millions of dollars.

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Last Update: March 18, 2025