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 March 30, 2015Posted March 31, 2015

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
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014 4,926 2,892 736 251 425 292 330 189 109 25 11 18 12 15
2015* 4,689 2,786 563 381 540 190 229 188 111 20 16 23 8 10
Monthly average
2014-Oct. 4,366 2,397 946 232 448 172 172 169 95 31 10 18 7 9
Nov. 5,845 3,714 781 283 514 269 285 211 129 26 11 21 12 13
Dec. 5,808 3,955 919 280 269 149 236 227 152 34 13 12 7 10
2015-Jan. 4,944 3,033 240 416 660 351 243 194 114 8 19 27 14 11
Feb. 4,805 2,869 580 285 597 158 316 188 108 20 14 26 7 14
Mar.* 4,342 2,477 855 434 374 65 137 182 111 30 17 16 3 5
Weekly (Friday) average
Mar. 6 4,459 2,658 915 174 623 28 60 174 106 28 9 27 2 2
Mar. 13 4,792 2,587 759 860 353 32 202 201 114 29 32 16 2 8
Mar. 20 3,309 1,932 882 331 75 79 10 151 98 33 11 4 4 0
Mar. 27 5,312 3,028 1,032 374 445 130 303 219 136 35 14 16 6 12
Apr. 3* 1,822 982 18 417 377 28 0 95 57 5 14 17 2 0
Daily
Mar. 24 5,850 3,483 1,179 83 770 292 42 231 144 35 7 24 19 2
Mar. 25 4,150 1,764 1,923 36 125 175 127 185 95 66 3 3 5 13
Mar. 26 6,382 3,006 943 1,062 625 50 695 240 121 30 37 26 1 25
Mar. 27 4,287 2,212 0 690 701 134 550 212 144 0 24 26 3 15
Mar. 30 1,822 982 18 417 377 28 0 95 57 5 14 17 2 0
* Data through March 30.

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
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014 4,885 2,874 654 614 570 117 55 428 245 57 57 54 11 4
2015* 5,964 3,378 883 742 755 157 50 526 283 72 77 76 15 4
Monthly average
2014-Oct. 5,227 3,179 693 622 574 121 38 437 260 60 53 50 10 4
Nov. 5,184 2,728 609 961 594 220 72 436 227 50 79 55 20 5
Dec. 4,959 2,853 601 583 657 175 90 427 231 51 58 63 17 6
2015-Jan. 5,727 3,039 889 810 806 143 40 507 256 76 75 80 15 4
Feb. 6,088 3,494 961 824 596 134 79 521 283 68 89 62 13 6
Mar.* 6,079 3,595 806 603 851 191 33 550 309 71 68 86 15 2
Weekly (Friday) average
Mar. 6 7,176 4,325 920 756 915 219 41 612 340 82 83 89 17 2
Mar. 13 5,776 3,309 725 672 818 207 45 523 283 65 76 80 18 2
Mar. 20 6,145 3,736 924 523 739 202 22 565 337 76 54 80 17 1
Mar. 27 5,493 3,178 736 413 983 160 22 511 287 64 45 101 12 2
Apr. 3* 4,699 2,748 404 843 594 75 36 494 247 48 135 55 7 2
Daily
Mar. 24 5,394 2,898 1,132 186 990 189 0 497 278 86 19 99 15 0
Mar. 25 6,703 3,078 1,088 761 1,523 213 41 649 281 112 79 151 17 9
Mar. 26 5,099 3,190 481 370 790 215 53 449 276 42 44 76 9 2
Mar. 27 4,445 2,917 286 415 744 68 14 406 253 21 61 62 8 1
Mar. 30 4,699 2,748 404 843 594 75 36 494 247 48 135 55 7 2
* Data through March 30.

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
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014 2,983 2,185 148 33 66 107 444 134 97 5 2 3 4 23
2015* 1,089 476 124 9 32 92 356 67 34 6 1 2 4 20
Monthly average
2014-Oct. 4,862 4,151 173 25 53 80 380 231 200 6 1 3 3 18
Nov. 1,485 857 36 19 60 123 391 83 50 1 1 3 6 22
Dec. 1,166 507 83 18 49 135 374 63 32 4 1 3 4 20
2015-Jan. 1,185 473 119 3 34 113 443 71 34 5 1 2 5 25
Feb. 1,116 489 125 6 18 87 391 65 32 6 1 2 3 21
Mar.* 972 465 129 18 42 76 241 65 35 6 1 4 4 15
Weekly (Friday) average
Mar. 6 1,032 568 125 25 35 29 249 64 38 4 1 2 4 16
Mar. 13 1,217 469 184 9 40 121 393 82 34 9 0 6 5 28
Mar. 20 974 455 118 34 78 53 237 68 37 8 2 5 4 12
Mar. 27 825 434 117 3 23 116 133 55 33 6 1 3 4 8
Apr. 3* 178 144 0 26 8 0 0 23 17 0 4 2 0 0
Daily
Mar. 24 1,005 464 0 1 18 278 244 57 33 0 1 2 8 13
Mar. 25 958 503 300 5 10 50 90 59 33 12 1 2 1 10
Mar. 26 937 274 250 6 0 100 307 64 30 16 1 0 4 13
Mar. 27 310 249 0 1 18 30 12 37 29 0 1 3 2 2
Mar. 30 178 144 0 26 8 0 0 23 17 0 4 2 0 0
* Data through March 30.

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
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014 9,408 4,894 794 307 1,624 489 1,300 382 207 37 11 59 20 48
2015* 9,263 4,665 774 357 1,559 549 1,360 385 210 36 14 55 21 50
Monthly average
2014-Oct. 8,280 4,032 828 295 1,511 536 1,077 359 183 40 12 57 21 46
Nov. 10,463 5,144 946 447 1,563 679 1,684 423 213 43 17 57 27 66
Dec. 10,202 5,503 969 309 1,493 533 1,395 390 225 39 11 50 20 47
2015-Jan. 8,581 4,101 687 298 1,638 567 1,289 368 194 33 12 58 22 49
Feb. 10,020 5,103 791 375 1,611 489 1,652 412 226 37 15 56 19 58
Mar.* 9,229 4,806 840 396 1,439 586 1,162 376 210 37 14 50 21 43
Weekly (Friday) average
Mar. 6 9,252 4,977 986 420 906 578 1,385 379 216 41 14 33 25 49
Mar. 13 9,573 4,977 1,052 350 1,388 574 1,233 394 219 45 15 47 20 48
Mar. 20 10,913 5,688 843 546 2,243 645 948 427 239 38 16 77 22 35
Mar. 27 7,971 3,891 623 345 1,329 658 1,125 326 168 29 14 50 22 43
Apr. 3* 5,263 3,259 128 20 879 30 947 267 193 16 2 23 1 32
Daily
Mar. 24 7,694 4,469 332 182 727 788 1,196 327 191 18 10 30 30 48
Mar. 25 8,119 3,210 905 416 1,854 519 1,216 365 156 40 12 85 22 50
Mar. 26 7,012 3,092 258 228 1,732 922 781 274 145 14 10 48 30 27
Mar. 27 8,542 3,659 1,121 594 1,009 970 1,189 321 147 38 25 37 25 49
Mar. 30 5,263 3,259 128 20 879 30 947 267 193 16 2 23 1 32
* Data through March 30.

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
2013 77,384 48,518 9,644 3,265 6,513 2,586 6,858 3,190 1,889 364 188 326 129 295
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* 80,266 51,055 8,602 3,831 6,746 2,976 7,055 3,541 2,080 372 254 378 150 306
Monthly average
2014-Oct. 81,536 54,478 8,703 3,523 5,818 2,741 6,272 3,513 2,193 378 205 316 136 284
Nov. 91,847 61,892 9,409 4,392 5,878 3,322 6,954 3,788 2,336 395 254 318 163 321
Dec. 83,468 57,827 7,854 3,318 5,991 3,068 5,409 3,502 2,274 337 199 312 151 229
2015-Jan. 80,779 50,071 8,372 3,847 7,219 3,696 7,573 3,554 2,023 369 253 407 179 322
Feb. 82,508 52,158 9,107 4,075 6,720 2,546 7,903 3,596 2,104 382 276 366 128 340
Mar.* 77,750 50,995 8,365 3,596 6,320 2,680 5,795 3,479 2,113 367 234 363 143 260
Weekly (Friday) average
Mar. 6 79,771 52,537 8,739 3,425 6,163 2,526 6,381 3,577 2,162 384 242 342 146 302
Mar. 13 77,007 49,398 8,574 4,275 6,409 2,643 5,708 3,437 1,991 379 279 378 137 274
Mar. 20 75,055 47,888 9,424 3,939 6,694 2,629 4,481 3,372 2,038 393 220 376 140 206
Mar. 27 81,180 53,953 8,034 2,993 6,172 3,186 6,841 3,596 2,242 349 196 374 160 274
Apr. 3* 67,690 52,007 1,819 2,350 5,519 1,350 4,646 3,146 2,205 172 224 268 87 190
Daily
Mar. 24 80,870 51,597 11,805 1,576 5,338 3,504 7,050 3,596 2,162 486 121 342 207 278
Mar. 25 85,184 53,403 9,443 3,760 6,785 2,959 8,834 3,846 2,156 468 244 453 164 361
Mar. 26 80,266 52,499 5,676 3,081 6,760 4,367 7,883 3,445 2,188 268 197 340 158 294
Mar. 27 80,216 57,418 6,340 3,781 4,323 2,703 5,651 3,401 2,354 195 268 246 115 223
Mar. 30 67,690 52,007 1,819 2,350 5,519 1,350 4,646 3,146 2,205 172 224 268 87 190
* Data through March 30.

Footnotes

1. Millions of dollars.

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Last update: March 31, 2015