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 January 18, 2017Posted January 19, 2017

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
2015 6,135 3,973 833 369 460 317 183 226 142 27 16 20 13 8
2016 7,324 4,282 1,355 379 492 488 327 282 158 44 17 23 21 18
2017* 8,062 4,323 1,669 447 564 566 494 311 153 59 21 27 23 28
Monthly average
2016-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. 8,435 5,039 2,030 389 324 402 251 294 171 62 20 15 15 11
2017-Jan.* 8,062 4,323 1,669 447 564 566 494 311 153 59 21 27 23 28
Weekly (Friday) average
Dec. 23 8,201 5,099 2,541 109 149 170 134 279 171 83 6 8 6 5
Dec. 30 5,883 4,818 659 101 294 10 0 211 170 18 6 14 2 0
Jan. 6 8,691 4,639 2,199 223 539 515 574 332 170 75 10 22 21 34
Jan. 13 7,192 3,691 1,130 633 667 664 407 289 134 42 30 33 25 24
Jan. 20* 8,980 5,268 1,955 427 358 422 552 324 166 69 19 21 20 28
Daily
Jan. 12 6,549 2,108 1,609 1,439 605 233 556 279 75 69 42 45 21 27
Jan. 13 3,489 1,623 385 300 207 362 612 159 51 25 23 11 23 26
Jan. 16 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 17 12,199 8,384 2,305 395 34 529 552 435 267 78 17 10 26 37
Jan. 18 5,761 2,151 1,604 458 681 315 551 212 64 60 21 32 15 20
* Data through January 18.

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
2015 5,085 2,827 638 631 750 189 50 451 228 57 67 77 18 4
2016 5,545 3,263 718 638 732 159 35 500 278 64 65 74 16 2
2017* 7,719 4,392 1,102 781 1,142 208 94 633 340 81 73 110 23 7
Monthly average
2016-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. 5,734 3,205 1,003 586 707 204 29 497 273 81 52 68 22 2
2017-Jan.* 7,719 4,392 1,102 781 1,142 208 94 633 340 81 73 110 23 7
Weekly (Friday) average
Dec. 23 5,350 2,707 1,225 697 656 53 12 480 249 104 58 63 5 1
Dec. 30 4,543 2,615 952 505 406 23 42 404 232 82 41 44 2 3
Jan. 6 7,519 4,188 1,304 814 1,043 158 12 623 328 95 78 104 18 1
Jan. 13 7,230 4,244 888 765 1,100 178 56 601 334 65 68 106 20 9
Jan. 20* 9,343 5,168 1,232 758 1,444 385 355 735 381 94 76 130 41 13
Daily
Jan. 12 7,630 4,340 1,270 963 915 142 0 577 328 63 86 78 22 0
Jan. 13 7,490 4,857 514 1,068 780 126 144 626 356 50 96 78 18 28
Jan. 16 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 17 9,878 5,331 1,038 797 1,764 238 710 753 384 82 80 145 36 26
Jan. 18 8,807 5,006 1,425 719 1,124 533 0 717 378 106 72 115 46 0
* Data through January 18.

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
2015 1,113 425 118 28 75 106 362 64 28 4 2 4 5 21
2016 11,132 10,283 193 46 83 98 429 345 296 6 2 4 5 32
2017* 9,720 9,036 70 35 137 111 330 325 283 3 2 5 4 27
Monthly average
2016-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. 8,166 7,562 115 19 62 100 308 277 236 5 2 4 5 26
2017-Jan.* 9,720 9,036 70 35 137 111 330 325 283 3 2 5 4 27
Weekly (Friday) average
Dec. 23 8,021 7,279 89 23 52 136 443 271 227 5 1 3 6 29
Dec. 30 6,845 6,585 10 1 13 75 161 246 223 1 1 1 2 16
Jan. 6 10,156 9,180 103 7 263 113 489 348 288 4 2 8 4 42
Jan. 13 9,309 8,806 29 37 56 76 305 311 278 2 2 3 3 24
Jan. 20* 9,877 9,322 110 88 84 197 76 312 286 4 3 5 6 8
Daily
Jan. 12 9,923 9,337 63 13 251 50 208 308 277 4 1 9 1 16
Jan. 13 7,817 7,015 65 167 0 75 495 281 238 2 5 0 3 33
Jan. 16 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 17 9,623 9,101 115 11 157 134 106 307 278 4 1 8 6 10
Jan. 18 10,131 9,544 105 164 10 260 47 316 294 3 5 2 7 5
* Data through January 18.

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
2015 11,484 6,749 1,149 386 1,439 581 1,179 432 257 45 15 52 21 41
2016 12,316 7,583 1,105 374 1,155 601 1,498 443 271 42 13 43 20 54
2017* 13,105 7,674 1,454 315 1,116 908 1,638 504 288 55 11 45 35 71
Monthly average
2016-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. 13,266 8,813 978 553 792 405 1,726 495 331 38 18 31 15 63
2017-Jan.* 13,105 7,674 1,454 315 1,116 908 1,638 504 288 55 11 45 35 71
Weekly (Friday) average
Dec. 23 14,034 8,888 671 1,134 923 315 2,103 510 333 29 35 27 14 72
Dec. 30 10,002 6,379 868 561 591 313 1,290 355 235 27 17 27 13 36
Jan. 6 13,491 7,608 1,561 245 1,065 985 2,027 506 275 60 9 40 38 84
Jan. 13 12,356 7,601 1,373 320 1,037 730 1,297 474 281 49 12 40 31 61
Jan. 20* 14,206 7,986 1,444 446 1,413 1,200 1,717 578 330 57 13 68 41 68
Daily
Jan. 12 11,796 7,813 1,470 496 829 771 417 431 265 46 16 34 33 37
Jan. 13 13,016 7,755 2,366 345 807 754 989 501 305 81 15 39 23 38
Jan. 16 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 17 15,850 8,073 1,313 472 2,167 1,305 2,520 603 328 46 15 99 36 79
Jan. 18 12,561 7,899 1,574 420 659 1,095 914 552 331 68 11 38 46 58
* Data through January 18.

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
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 78,277 49,126 9,347 3,620 6,157 3,323 6,703 3,527 2,008 413 235 371 172 328
2017* 83,914 46,976 11,248 3,987 7,643 4,798 9,262 3,969 2,010 479 262 489 252 477
Monthly average
2016-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. 75,325 47,201 10,809 3,685 5,256 2,647 5,726 3,399 1,993 452 222 305 144 284
2017-Jan.* 83,914 46,976 11,248 3,987 7,643 4,798 9,262 3,969 2,010 479 262 489 252 477
Weekly (Friday) average
Dec. 23 76,554 45,230 11,583 5,070 6,110 2,087 6,473 3,429 1,918 528 260 298 115 311
Dec. 30 60,175 40,065 8,894 2,335 3,567 1,722 3,591 2,736 1,766 352 149 201 86 182
Jan. 6 86,804 46,613 12,288 3,682 8,942 4,937 10,342 4,064 1,970 520 258 542 254 522
Jan. 13 80,084 45,709 9,824 4,381 6,676 4,728 8,764 3,791 1,968 414 275 449 239 446
Jan. 20* 87,707 50,870 12,726 3,608 7,462 4,695 8,346 4,225 2,196 561 238 483 282 465
Daily
Jan. 12 78,236 45,728 9,559 5,188 6,184 3,640 7,938 3,706 1,913 419 318 447 205 404
Jan. 13 76,280 41,391 8,088 6,807 4,741 4,635 10,618 3,690 1,870 345 369 339 245 522
Jan. 16 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Jan. 17 95,943 54,734 12,710 3,819 8,808 5,678 10,195 4,574 2,343 568 261 562 317 523
Jan. 18 79,472 47,006 12,743 3,398 6,117 3,712 6,496 3,876 2,050 554 215 404 246 407
* Data through January 18.

Footnotes

1. Millions of dollars.

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Last update: January 19, 2017