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 September 29, 2016Posted September 30, 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* 7,013 4,149 1,173 365 500 471 357 274 156 39 16 23 20 19
Monthly average
2016-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 8,425 5,622 1,346 380 484 298 295 301 192 45 15 22 12 16
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.* 8,036 4,834 1,600 626 400 344 230 294 171 50 25 19 14 16
Weekly (Friday) average
Sept. 2 5,336 2,948 1,341 382 422 125 116 203 102 47 18 23 6 6
Sept. 9 8,516 4,547 1,945 960 446 405 213 305 166 58 33 21 16 12
Sept. 16 7,848 4,330 1,707 1,029 186 296 300 285 157 53 37 7 13 18
Sept. 23 8,472 5,091 2,025 296 439 473 148 310 189 60 13 19 17 13
Sept. 30* 7,948 6,411 193 252 503 329 260 294 206 7 17 28 12 24
Daily
Sept. 23 9,184 4,326 4,386 50 160 150 111 308 168 118 1 7 7 7
Sept. 26 11,425 10,463 203 26 270 45 417 376 315 6 3 18 2 32
Sept. 27 9,955 8,194 400 320 686 307 49 359 279 14 20 25 13 8
Sept. 28 5,599 3,578 117 216 690 811 186 211 121 6 10 30 26 18
Sept. 29 4,812 3,408 50 446 366 155 387 230 110 3 34 37 9 37
* Data through September 29.

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* 5,555 3,261 702 676 743 139 33 504 277 64 70 76 14 2
Monthly average
2016-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 6,186 3,919 726 814 611 98 17 520 307 61 82 60 9 1
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.* 5,830 3,734 782 501 619 175 19 506 306 70 50 60 18 2
Weekly (Friday) average
Sept. 2 5,005 2,927 859 515 588 115 0 451 251 73 56 59 12 0
Sept. 9 6,284 3,963 646 544 812 297 22 542 315 50 64 81 31 1
Sept. 16 5,852 3,603 700 791 525 207 25 497 290 65 69 51 18 4
Sept. 23 5,722 3,752 901 337 617 90 26 501 310 81 36 61 11 2
Sept. 30* 5,642 4,022 711 180 557 164 8 496 339 70 14 54 17 1
Daily
Sept. 23 5,779 3,739 1,114 293 505 129 0 535 335 96 31 52 21 0
Sept. 26 5,625 4,065 293 230 766 271 0 513 381 25 17 75 15 0
Sept. 27 5,019 3,903 579 124 312 102 0 452 328 66 12 34 12 0
Sept. 28 6,297 4,448 870 165 616 187 10 552 345 108 11 62 25 1
Sept. 29 5,626 3,671 1,104 202 535 94 20 466 303 80 17 47 17 2
* Data through September 29.

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* 12,328 11,373 228 53 89 98 487 374 321 7 2 5 4 35
Monthly average
2016-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 12,925 12,303 93 25 108 90 306 351 313 3 1 5 4 24
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.* 10,566 9,963 56 28 66 97 355 315 270 2 2 5 4 33
Weekly (Friday) average
Sept. 2 8,470 7,816 37 55 104 103 354 263 207 3 4 4 7 38
Sept. 9 9,413 8,714 69 39 48 82 461 293 246 3 3 4 3 34
Sept. 16 10,718 10,064 90 23 74 59 409 332 267 2 1 6 4 50
Sept. 23 11,454 10,743 59 12 93 196 349 322 286 2 1 6 6 22
Sept. 30* 10,816 10,636 8 10 18 9 136 314 291 1 0 2 2 17
Daily
Sept. 23 10,336 9,848 10 0 23 53 403 295 263 2 0 4 2 24
Sept. 26 11,727 11,458 6 0 11 6 245 335 308 2 0 4 3 18
Sept. 27 11,978 11,927 25 0 0 4 22 327 316 1 0 0 3 7
Sept. 28 10,411 10,130 0 25 0 25 231 322 287 0 1 0 1 33
Sept. 29 9,149 9,028 0 15 62 0 44 270 254 0 1 6 0 9
* Data through September 29.

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* 12,228 7,338 1,117 342 1,281 644 1,506 434 258 42 12 47 22 53
Monthly average
2016-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 12,171 7,065 1,207 299 1,340 1,030 1,229 433 259 43 11 46 31 43
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.* 15,354 9,947 1,352 534 1,016 558 1,947 522 328 47 17 38 18 74
Weekly (Friday) average
Sept. 2 13,958 8,718 1,194 633 955 681 1,778 474 299 42 22 31 20 60
Sept. 9 15,477 9,715 1,742 508 1,110 311 2,091 543 322 63 14 37 11 95
Sept. 16 15,021 10,003 1,252 429 1,040 584 1,713 504 324 43 14 38 18 67
Sept. 23 15,503 10,002 1,150 561 1,042 596 2,152 533 337 41 21 41 18 75
Sept. 30* 15,653 10,531 1,112 524 875 821 1,790 525 345 40 16 37 26 62
Daily
Sept. 23 15,050 9,562 964 1,139 784 1,188 1,413 510 314 31 45 32 27 61
Sept. 26 16,964 11,039 1,219 202 1,078 1,694 1,731 564 358 36 7 47 42 74
Sept. 27 14,398 10,436 1,345 647 372 636 961 515 359 45 20 24 24 43
Sept. 28 14,498 10,291 471 437 1,268 460 1,572 499 340 20 14 40 19 66
Sept. 29 16,750 10,356 1,413 810 780 493 2,898 521 323 57 21 36 17 67
* Data through September 29.

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* 79,959 50,322 9,212 3,698 6,433 3,385 6,909 3,573 2,029 413 242 385 173 330
Monthly average
2016-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 82,046 52,837 9,283 4,001 6,392 4,098 5,435 3,573 2,097 403 257 363 182 271
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.* 88,134 57,583 10,988 4,118 5,831 2,991 6,622 3,734 2,196 453 237 339 156 353
Weekly (Friday) average
Sept. 2 77,090 49,353 10,597 3,988 5,464 2,404 5,284 3,407 1,928 457 248 343 123 308
Sept. 9 90,958 55,099 15,448 4,450 6,363 2,350 7,247 3,879 2,108 582 283 380 143 384
Sept. 16 85,580 56,320 10,514 4,440 5,446 2,668 6,192 3,682 2,143 440 254 293 153 398
Sept. 23 92,133 60,066 10,486 4,796 6,369 3,981 6,434 3,785 2,257 452 239 358 177 301
Sept. 30* 88,613 63,460 6,968 2,214 5,466 3,315 7,190 3,746 2,449 309 139 336 169 344
Daily
Sept. 23 86,245 56,735 10,298 5,196 4,549 3,795 5,671 3,607 2,188 447 245 284 166 277
Sept. 26 96,576 69,612 5,187 2,022 6,708 4,058 8,989 4,048 2,680 204 161 411 178 414
Sept. 27 96,615 69,809 9,732 2,583 5,255 3,363 5,873 3,935 2,587 397 156 313 189 293
Sept. 28 80,783 58,241 4,843 1,832 5,697 3,560 6,609 3,518 2,301 291 97 323 166 340
Sept. 29 80,478 56,177 8,111 2,420 4,203 2,279 7,288 3,482 2,228 343 142 299 142 328
* Data through September 29.

Footnotes

1. Millions of dollars.

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Last update: September 30, 2016