Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download FRED

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of February 13, 2026Posted February 17, 2026

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
2024 3,646 2,214 709 291 232 141 59 129 77 22 11 9 6 4
2025 4,343 2,408 790 382 403 220 140 155 83 25 16 17 9 6
2026* 4,741 2,324 1,269 500 413 129 106 156 76 35 21 15 6 3
Monthly average
2025-Sept. 5,470 3,198 824 610 422 231 185 218 128 30 25 17 10 8
Oct. 4,506 2,483 999 423 340 150 110 180 103 35 18 14 5 5
Nov. 4,818 2,592 1,065 481 542 136 2 173 85 31 22 27 9 0
Dec. 4,446 2,714 578 489 341 281 43 157 92 18 19 16 10 2
2026-Jan. 4,824 2,339 1,269 567 413 161 75 158 76 36 23 14 7 2
Feb.* 4,574 2,295 1,269 365 414 63 169 151 75 35 15 17 3 6
Weekly (Friday) average
Jan. 16 5,282 2,325 1,468 953 279 237 20 178 80 42 37 11 8 0
Jan. 23 3,822 1,686 1,438 263 180 95 161 120 53 40 12 8 2 5
Jan. 30 4,301 1,631 1,121 774 510 116 150 145 61 29 29 18 5 4
Feb. 6 5,067 2,756 1,323 365 393 22 208 164 89 38 15 17 1 5
Feb. 13* 4,082 1,833 1,214 365 435 105 130 138 62 32 15 17 5 6
Daily
Feb. 10 5,954 4,924 145 280 485 53 66 208 159 5 20 14 2 8
Feb. 11 1,701 134 428 852 188 33 66 64 8 17 24 10 2 3
Feb. 12 2,400 243 1,210 381 467 6 93 87 6 30 17 26 1 7
Feb. 13 6,290 571 4,286 242 516 349 326 191 30 109 12 18 11 11
Feb. 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.
* Data through February 13.
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
2024 10,068 6,639 1,251 805 782 438 154 674 410 82 65 74 35 8
2025 9,753 6,135 1,164 919 870 366 298 640 378 75 66 73 36 12
2026* 12,459 7,372 1,432 1,547 1,287 309 513 872 508 91 115 102 33 23
Monthly average
2025-Sept. 9,644 5,996 1,260 939 707 634 108 681 414 83 70 60 42 13
Oct. 9,551 5,969 1,086 1,148 845 312 191 668 433 65 79 64 21 6
Nov. 9,698 5,923 1,048 1,156 752 319 500 646 403 61 74 55 38 15
Dec. 8,494 4,795 1,090 874 1,052 286 398 561 318 62 56 84 25 15
2026-Jan. 11,891 7,072 1,415 1,415 1,354 314 321 847 493 93 102 106 36 17
Feb.* 13,597 7,972 1,465 1,811 1,153 299 897 922 537 89 141 94 27 35
Weekly (Friday) average
Jan. 16 11,940 6,540 1,402 1,667 1,805 348 178 886 480 97 110 139 40 20
Jan. 23 12,387 7,996 1,524 1,518 1,003 206 140 896 564 102 103 78 35 14
Jan. 30 12,999 8,572 1,226 1,324 1,012 62 803 858 567 83 96 84 7 21
Feb. 6 11,927 8,109 1,307 1,391 764 234 121 810 543 74 102 54 25 12
Feb. 13* 15,267 7,834 1,623 2,231 1,543 364 1,672 1,034 531 103 180 133 30 58
Daily
Feb. 10 12,896 7,852 1,407 2,083 882 472 200 947 511 90 159 98 37 52
Feb. 11 18,559 7,000 2,456 3,518 1,346 206 4,033 1,125 503 138 267 108 24 85
Feb. 12 16,886 7,075 1,829 1,990 1,817 332 3,843 1,068 514 120 213 105 31 85
Feb. 13 14,216 8,118 2,022 1,604 2,069 347 55 1,084 560 136 145 220 19 4
Feb. 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.
* Data through February 13.
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
2024 4,778 4,427 189 38 64 10 50 127 116 6 1 2 0 2
2025 4,188 3,834 186 54 39 16 59 114 103 5 1 1 1 3
2026* 4,828 4,646 58 51 22 11 39 137 130 2 1 1 0 3
Monthly average
2025-Sept. 5,152 4,645 126 72 87 73 150 149 132 4 2 4 2 5
Oct. 4,478 4,082 115 121 92 14 54 137 123 4 3 3 1 2
Nov. 4,576 4,299 88 56 29 8 96 139 128 4 1 1 0 4
Dec. 4,611 4,359 85 49 55 5 58 133 124 3 2 2 0 3
2026-Jan. 4,974 4,808 50 49 23 13 32 141 135 1 1 1 0 2
Feb.* 4,536 4,324 74 55 21 6 55 130 121 2 1 1 0 4
Weekly (Friday) average
Jan. 16 5,300 5,049 27 118 39 50 17 148 140 1 3 1 2 2
Jan. 23 4,906 4,862 34 0 0 0 10 132 130 1 0 0 0 0
Jan. 30 4,466 4,350 27 66 0 0 23 138 134 1 2 0 0 1
Feb. 6 4,433 4,272 87 0 0 13 61 135 127 2 0 0 0 5
Feb. 13* 4,638 4,376 62 110 42 0 48 125 116 2 3 2 0 3
Daily
Feb. 10 4,818 4,768 0 0 20 0 30 139 135 0 0 1 0 3
Feb. 11 4,926 4,130 135 550 62 0 50 134 111 4 13 4 0 2
Feb. 12 4,732 4,705 0 0 0 0 26 111 109 0 0 0 0 2
Feb. 13 4,454 4,144 175 0 100 0 35 127 117 4 0 2 0 4
Feb. 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.
* Data through February 13.
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
2024 22,542 15,680 3,545 517 713 466 1,621 660 449 96 15 24 15 60
2025 20,791 13,932 3,757 416 643 426 1,616 608 402 102 13 22 14 56
2026* 17,796 10,866 3,690 460 544 560 1,676 539 322 108 15 18 19 57
Monthly average
2025-Sept. 21,156 14,070 3,923 449 756 404 1,553 636 419 105 15 28 15 56
Oct. 20,338 13,448 3,827 497 897 323 1,346 610 403 107 15 31 11 43
Nov. 19,565 12,046 4,014 463 488 523 2,031 587 358 111 14 17 16 72
Dec. 19,832 12,776 3,446 478 634 456 2,043 594 377 92 16 23 16 69
2026-Jan. 17,331 10,650 3,505 497 587 590 1,502 532 321 105 16 21 19 50
Feb.* 18,727 11,297 4,061 386 459 501 2,024 552 324 113 12 13 19 71
Weekly (Friday) average
Jan. 16 17,321 10,574 3,618 503 565 411 1,650 538 320 110 17 24 15 52
Jan. 23 17,242 10,491 4,072 305 722 530 1,122 512 305 120 9 24 20 34
Jan. 30 17,452 10,941 3,542 640 492 714 1,123 529 327 104 20 17 25 36
Feb. 6 17,874 11,019 3,500 284 429 642 2,000 531 313 101 11 10 27 69
Feb. 13* 19,580 11,575 4,622 487 488 360 2,047 572 334 125 13 16 12 73
Daily
Feb. 10 21,779 11,517 7,221 291 196 358 2,196 653 334 193 7 10 18 91
Feb. 11 17,846 11,124 3,799 378 234 946 1,365 497 301 98 11 8 24 55
Feb. 12 21,622 11,770 6,446 738 506 136 2,025 622 350 159 21 16 4 72
Feb. 13 20,816 11,912 4,596 362 508 147 3,290 643 357 140 12 20 5 109
Feb. 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.
* Data through February 13.
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
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 122,146 80,064 17,192 4,952 6,646 3,325 9,968 4,727 2,820 590 286 405 193 433
2026* 115,358 69,982 17,332 5,322 6,997 3,872 11,854 4,775 2,699 604 333 428 205 505
Monthly average
2025-Sept. 122,891 80,035 16,965 5,543 7,016 3,031 10,301 5,059 3,065 629 325 404 176 462
Oct. 111,047 68,035 16,232 6,620 7,400 2,589 10,172 4,779 2,776 590 378 433 157 444
Nov. 104,655 61,154 15,975 5,999 6,578 3,785 11,165 4,507 2,490 567 346 407 229 467
Dec. 101,253 60,963 15,294 5,504 6,398 3,134 9,960 4,142 2,384 533 285 372 164 404
2026-Jan. 115,837 70,272 17,156 5,360 7,457 4,117 11,476 4,789 2,706 607 326 450 217 484
Feb.* 114,401 69,402 17,684 5,246 6,078 3,383 12,609 4,746 2,684 600 347 385 180 549
Weekly (Friday) average
Jan. 16 118,176 71,789 17,469 6,032 7,498 4,193 11,195 5,039 2,792 651 378 491 231 496
Jan. 23 120,928 75,294 19,769 5,224 5,994 4,002 10,645 5,037 2,905 694 335 433 193 478
Jan. 30 113,913 71,195 16,614 5,041 6,842 3,362 10,860 4,604 2,754 571 294 387 167 432
Feb. 6 112,092 68,342 16,525 4,283 6,105 3,766 13,071 4,701 2,680 559 287 390 201 585
Feb. 13* 116,711 70,462 18,842 6,209 6,051 3,000 12,146 4,790 2,689 640 407 381 160 513
Daily
Feb. 10 122,028 75,774 23,178 6,118 5,424 2,232 9,301 4,857 2,769 731 421 359 119 458
Feb. 11 119,278 69,227 20,742 7,204 5,349 2,722 14,034 4,806 2,611 693 469 383 157 493
Feb. 12 115,879 67,472 17,607 6,770 5,983 2,322 15,725 4,807 2,608 646 446 334 162 611
Feb. 13 117,186 65,190 25,199 5,706 6,360 2,587 12,144 4,896 2,628 820 400 390 136 522
Feb. 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.
* Data through February 13.

Footnotes

1. Millions of dollars.

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Last Update: February 17, 2026