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 January 23, 2025Posted January 24, 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* 3,186 1,959 756 142 176 140 13 101 59 24 5 7 6 0
Monthly average
2024-Aug. 4,139 2,414 983 274 309 56 103 144 84 27 12 12 3 6
Sept. 4,349 2,490 1,011 274 223 256 94 164 91 32 12 10 13 5
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.* 3,186 1,959 756 142 176 140 13 101 59 24 5 7 6 0
Weekly (Friday) average
Dec. 27 1,903 1,215 331 70 287 0 0 66 48 8 4 8 0 0
Jan. 3 1,822 471 1,270 5 44 31 0 56 16 36 0 2 1 0
Jan. 10 4,058 3,569 3 80 243 130 33 122 106 0 2 8 5 1
Jan. 17 2,475 916 899 269 200 183 7 86 29 28 11 10 7 0
Jan. 24* 3,069 2,149 583 120 80 138 0 103 63 25 5 3 6 0
Daily
Jan. 17 4,011 121 3,519 125 120 126 0 127 9 104 3 5 6 0
Jan. 20 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. 21 6,679 5,626 635 0 105 313 0 199 159 24 0 3 13 0
Jan. 22 1,345 119 765 226 135 100 0 59 3 34 10 6 6 0
Jan. 23 1,184 700 350 134 0 0 0 50 28 18 4 0 0 0
* Data through January 23.
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* 10,210 6,378 1,478 951 959 415 29 660 366 95 72 79 46 2
Monthly average
2024-Aug. 8,858 6,069 1,159 512 632 301 185 603 395 80 40 55 28 6
Sept. 9,818 7,259 1,040 557 662 269 32 626 424 74 48 52 24 3
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.* 10,210 6,378 1,478 951 959 415 29 660 366 95 72 79 46 2
Weekly (Friday) average
Dec. 27 5,557 4,200 599 499 173 70 14 389 260 44 55 20 6 3
Jan. 3 7,570 5,031 934 536 960 110 0 460 294 64 32 64 6 0
Jan. 10 9,243 5,666 1,548 723 952 346 10 623 333 98 58 89 44 1
Jan. 17 10,857 6,762 1,664 1,045 716 653 18 725 391 111 81 67 74 2
Jan. 24* 11,607 7,706 1,349 1,231 927 291 102 697 421 79 99 66 26 5
Daily
Jan. 17 12,032 7,117 2,474 1,597 774 70 0 768 406 176 129 51 6 0
Jan. 20 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. 21 11,500 8,252 1,383 759 597 444 65 686 461 87 57 40 36 5
Jan. 22 11,463 7,397 1,212 1,676 768 199 211 655 378 67 124 61 16 9
Jan. 23 11,857 7,470 1,452 1,258 1,415 231 30 750 424 84 116 97 27 2
* Data through January 23.
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* 3,567 2,972 352 113 44 9 76 91 74 9 3 1 0 4
Monthly average
2024-Aug. 3,781 3,536 179 15 24 2 26 95 87 5 0 1 0 1
Sept. 5,852 5,733 45 33 4 15 21 135 132 2 1 0 0 1
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.* 3,567 2,972 352 113 44 9 76 91 74 9 3 1 0 4
Weekly (Friday) average
Dec. 27 3,516 3,434 44 0 2 4 33 104 101 1 0 0 0 1
Jan. 3 2,884 2,652 65 0 126 2 38 80 72 2 0 4 0 1
Jan. 10 4,226 3,245 635 230 20 10 86 108 83 15 5 0 0 4
Jan. 17 3,139 2,916 135 30 0 15 43 81 73 4 1 0 1 4
Jan. 24* 2,953 2,295 392 133 17 0 116 70 52 9 3 0 0 5
Daily
Jan. 17 2,820 2,295 500 0 0 25 0 66 52 13 0 0 1 0
Jan. 20 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. 21 3,440 2,195 1,000 0 50 0 195 83 50 23 0 1 0 9
Jan. 22 2,846 2,345 100 400 0 0 2 66 53 3 9 0 0 1
Jan. 23 2,572 2,345 75 0 0 0 152 61 54 2 0 0 0 5
* Data through January 23.
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* 20,956 14,212 3,805 423 596 357 1,563 611 411 100 12 20 12 56
Monthly average
2024-Aug. 24,280 17,642 3,584 523 847 559 1,125 707 504 98 15 32 18 41
Sept. 25,282 18,078 3,629 612 774 712 1,477 758 527 102 18 30 24 57
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.* 20,956 14,212 3,805 423 596 357 1,563 611 411 100 12 20 12 56
Weekly (Friday) average
Dec. 27 18,780 13,111 3,748 416 405 78 1,023 542 383 95 14 13 2 35
Jan. 3 18,819 11,831 3,917 739 413 522 1,398 566 366 103 19 15 14 50
Jan. 10 20,742 14,132 3,432 214 928 332 1,705 613 412 91 6 29 11 64
Jan. 17 20,985 14,546 3,644 364 425 277 1,728 608 417 99 13 16 10 53
Jan. 24* 21,574 14,893 4,484 389 462 242 1,104 612 418 115 10 17 9 43
Daily
Jan. 17 22,749 14,542 4,162 1,183 650 111 2,101 620 400 108 35 17 4 56
Jan. 20 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. 21 26,213 16,095 7,571 518 561 420 1,048 738 455 193 12 20 14 44
Jan. 22 18,554 13,840 2,857 120 474 46 1,217 527 384 69 4 17 4 49
Jan. 23 19,954 14,745 3,024 528 349 259 1,048 570 414 83 14 15 9 35
* Data through January 23.
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* 122,976 78,083 20,048 4,215 6,771 3,908 9,950 4,571 2,585 636 249 424 224 453
Monthly average
2024-Aug. 116,939 80,070 15,839 3,998 6,497 3,093 7,442 4,358 2,706 548 220 374 163 347
Sept. 127,965 87,270 17,216 4,757 7,023 3,162 8,538 4,796 2,964 597 264 393 181 398
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.* 122,976 78,083 20,048 4,215 6,771 3,908 9,950 4,571 2,585 636 249 424 224 453
Weekly (Friday) average
Dec. 27 87,736 62,256 14,684 2,452 3,541 940 3,863 3,164 2,133 438 155 206 52 178
Jan. 3 95,403 59,252 18,289 3,112 6,151 2,527 6,073 3,396 2,008 544 157 313 100 274
Jan. 10 120,730 76,531 18,538 3,593 7,577 3,598 10,894 4,458 2,491 592 233 458 208 474
Jan. 17 123,757 80,983 18,688 4,585 5,530 4,573 9,398 4,708 2,711 618 269 389 283 438
Jan. 24* 128,349 81,974 22,136 4,164 6,851 3,249 9,975 4,827 2,765 704 251 424 200 483
Daily
Jan. 17 130,301 80,722 24,860 6,585 4,798 4,453 8,883 4,909 2,722 830 423 289 254 391
Jan. 20 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. 21 139,110 88,642 26,341 3,761 6,973 4,432 8,961 5,139 3,007 818 201 448 233 432
Jan. 22 120,719 78,205 17,879 4,765 6,738 2,903 10,229 4,599 2,583 589 307 389 205 526
Jan. 23 125,217 79,076 22,189 3,966 6,841 2,411 10,735 4,744 2,706 704 246 434 162 492
* Data through January 23.

Footnotes

1. Millions of dollars.

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Last Update: January 24, 2025