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 22, 2014Posted September 23, 2014

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
2012 5,057 2,890 455 398 697 308 308 164 91 16 15 23 10 10
2013 3,005 1,080 411 460 491 292 270 122 42 15 20 21 11 12
2014* 4,761 2,708 691 244 430 322 365 183 102 23 11 18 13 17
Monthly average
2014-Apr. 2,711 1,192 494 285 228 312 200 120 61 18 11 11 10 10
May 5,879 3,359 697 267 662 275 620 234 130 24 13 26 13 28
June 7,087 5,047 906 278 276 143 437 255 181 28 10 13 6 16
July 5,863 3,660 702 271 453 383 394 224 135 26 12 20 15 17
Aug. 6,074 3,321 1,083 243 557 414 456 212 112 32 10 23 17 19
Sept.* 7,027 4,348 1,375 260 470 215 359 243 149 43 10 16 9 16
Weekly (Friday) average
Aug. 29 4,849 2,998 381 337 691 279 163 176 104 11 15 27 11 8
Sept. 5 7,412 4,000 1,945 323 619 235 290 255 139 61 10 21 9 15
Sept. 12 5,430 3,428 669 153 457 220 505 193 118 20 8 16 9 22
Sept. 19 8,351 5,239 1,884 369 292 228 340 285 179 58 12 10 12 14
Sept. 26* 6,856 5,895 76 0 835 50 0 227 199 5 0 22 1 0
Daily
Sept. 16 11,635 8,869 874 188 588 436 680 428 312 32 12 19 27 26
Sept. 17 7,296 5,828 898 0 0 420 150 251 196 31 0 0 19 5
Sept. 18 4,385 2,301 1,153 0 230 182 518 167 90 33 0 14 9 21
Sept. 19 9,333 2,760 5,733 840 0 0 0 294 95 177 22 0 0 0
Sept. 22 6,856 5,895 76 0 835 50 0 227 199 5 0 22 1 0
* Data through September 22.

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
2012 5,241 3,097 675 599 676 143 51 249 142 29 30 37 8 3
2013 3,985 1,986 773 557 500 114 55 341 173 61 47 46 10 4
2014* 4,799 2,842 657 589 560 99 51 424 245 58 56 53 10 4
Monthly average
2014-Apr. 4,656 2,707 667 628 514 115 25 408 229 60 59 47 10 2
May 5,460 3,104 673 778 715 134 55 478 265 60 73 63 14 3
June 4,912 3,030 560 695 515 76 36 420 246 45 65 53 8 3
July 4,988 3,045 542 660 659 57 25 437 259 48 64 59 5 2
Aug. 4,585 3,015 491 467 524 63 25 411 266 47 42 46 6 3
Sept.* 5,207 3,181 691 611 577 78 69 451 275 64 52 48 8 5
Weekly (Friday) average
Aug. 29 4,747 3,189 545 299 600 71 43 400 260 54 28 47 6 5
Sept. 5 5,435 3,277 786 625 528 100 118 472 274 72 54 50 12 9
Sept. 12 4,503 2,720 618 621 439 79 26 390 233 58 52 36 7 3
Sept. 19 5,612 3,415 698 610 778 54 58 482 299 66 51 57 6 3
Sept. 26* 5,786 3,937 641 508 452 106 141 522 357 46 45 58 8 8
Daily
Sept. 16 5,578 3,317 781 436 1,002 22 20 467 314 56 38 54 4 1
Sept. 17 5,721 3,200 1,058 764 679 19 1 518 281 106 57 69 4 1
Sept. 18 5,348 3,439 670 207 782 122 128 448 286 59 27 61 11 4
Sept. 19 5,370 3,686 357 514 703 70 40 462 331 43 37 41 7 3
Sept. 22 5,786 3,937 641 508 452 106 141 522 357 46 45 58 8 8
* Data through September 22.

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
2012 1,445 440 69 78 118 101 638 60 12 3 3 6 5 31
2013 1,406 497 86 49 100 133 541 72 26 3 2 6 6 29
2014* 3,109 2,258 167 38 72 106 468 137 97 6 2 4 5 24
Monthly average
2014-Apr. 2,374 1,553 95 55 72 108 491 99 62 4 2 3 5 23
May 3,354 2,688 130 34 84 95 322 153 117 6 2 4 4 20
June 2,857 2,011 195 40 94 102 415 120 83 6 1 5 3 21
July 3,916 2,745 390 34 89 62 596 173 123 13 1 5 3 28
Aug. 4,748 3,904 129 42 76 79 518 213 172 4 2 5 4 26
Sept.* 4,897 4,006 277 54 86 132 341 196 157 9 2 4 5 19
Weekly (Friday) average
Aug. 29 5,678 4,944 182 13 90 125 324 253 213 6 2 6 7 20
Sept. 5 5,904 4,740 472 11 182 196 303 255 208 15 2 6 6 17
Sept. 12 4,249 3,354 190 16 44 128 517 157 114 7 1 4 5 25
Sept. 19 4,971 4,213 251 137 47 106 217 198 165 7 3 3 5 14
Sept. 26* 3,730 3,293 62 3 107 31 234 146 116 8 2 3 2 15
Daily
Sept. 16 3,921 3,100 687 0 90 25 19 144 116 16 0 6 1 5
Sept. 17 5,768 5,311 200 0 6 38 212 260 235 4 0 2 6 13
Sept. 18 5,908 5,094 100 233 100 12 370 262 222 2 7 2 4 25
Sept. 19 5,289 4,597 165 2 15 311 198 182 151 6 1 1 10 13
Sept. 22 3,730 3,293 62 3 107 31 234 146 116 8 2 3 2 15
* Data through September 22.

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
2012 15,681 8,780 1,532 421 2,816 787 1,346 447 246 42 14 81 25 41
2013 11,175 6,208 943 269 1,998 619 1,138 431 248 33 10 70 25 46
2014* 9,398 4,948 759 288 1,651 462 1,289 382 209 35 10 61 19 47
Monthly average
2014-Apr. 8,465 4,629 600 158 1,478 429 1,171 343 195 31 6 53 16 41
May 9,128 4,555 686 247 1,640 538 1,462 366 189 35 10 60 22 50
June 9,692 5,259 772 460 1,709 400 1,093 382 212 35 15 62 17 41
July 8,766 4,480 1,038 274 1,492 497 984 362 197 43 9 55 20 38
Aug. 9,132 4,375 792 344 1,724 356 1,541 394 201 39 12 68 16 59
Sept.* 8,745 3,776 843 569 1,863 497 1,197 386 188 41 17 69 22 49
Weekly (Friday) average
Aug. 29 8,767 4,084 903 291 1,603 247 1,640 366 194 43 11 57 11 50
Sept. 5 8,190 3,623 960 307 1,098 585 1,616 373 183 44 10 44 24 68
Sept. 12 8,720 3,780 872 776 1,415 586 1,291 385 190 39 22 55 23 56
Sept. 19 9,132 3,905 775 629 2,581 400 843 398 192 41 20 92 20 34
Sept. 26* 9,154 3,721 572 278 3,572 188 824 387 176 33 10 128 14 26
Daily
Sept. 16 8,465 4,097 886 295 1,544 402 1,241 368 191 43 12 56 23 43
Sept. 17 6,831 3,265 1,102 64 1,748 294 358 331 172 52 10 63 16 18
Sept. 18 8,386 3,886 590 378 2,158 427 946 366 189 39 14 66 18 40
Sept. 19 8,006 3,689 931 339 2,192 480 375 377 190 46 16 81 21 23
Sept. 22 9,154 3,721 572 278 3,572 188 824 387 176 33 10 128 14 26
* Data through September 22.

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
2012 71,805 42,245 6,970 3,626 8,655 3,052 7,257 2,334 1,282 228 145 312 121 246
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* 78,752 51,337 8,851 3,036 6,429 2,427 6,672 3,400 2,080 367 189 339 125 301
Monthly average
2014-Apr. 68,804 43,495 7,555 2,882 5,717 2,519 6,636 3,081 1,855 339 178 297 126 287
May 81,320 53,212 9,053 3,199 6,572 2,504 6,780 3,561 2,183 379 206 354 132 307
June 82,510 56,384 8,557 3,524 6,611 1,897 5,537 3,458 2,210 353 202 337 102 254
July 78,952 51,215 10,289 2,706 6,578 2,400 5,765 3,415 2,097 399 180 358 120 261
Aug. 82,889 53,752 10,490 2,758 6,833 2,288 6,768 3,489 2,136 392 174 354 120 313
Sept.* 85,350 55,041 9,855 4,065 7,060 2,537 6,793 3,633 2,208 426 214 357 126 302
Weekly (Friday) average
Aug. 29 84,241 55,180 10,200 2,475 7,807 1,755 6,824 3,523 2,191 398 163 374 103 295
Sept. 5 86,446 52,390 11,946 3,859 7,364 2,342 8,545 3,684 2,118 484 218 385 113 367
Sept. 12 80,969 53,192 9,314 3,651 5,956 2,591 6,265 3,484 2,118 403 211 326 127 300
Sept. 19 88,140 57,712 9,438 4,824 7,678 2,734 5,754 3,718 2,326 419 223 356 143 252
Sept. 26* 88,925 61,537 6,276 3,157 8,270 2,066 7,619 3,746 2,434 338 173 409 94 298
Daily
Sept. 16 89,296 59,216 10,845 3,047 6,018 3,038 7,133 3,711 2,347 439 162 317 175 271
Sept. 17 83,273 57,421 10,955 2,857 4,882 2,430 4,728 3,632 2,309 492 167 306 131 227
Sept. 18 83,123 55,404 8,091 4,503 7,655 1,986 5,483 3,548 2,234 389 200 349 114 262
Sept. 19 83,424 55,175 12,507 4,026 6,451 2,535 2,729 3,561 2,307 500 212 286 113 143
Sept. 22 88,925 61,537 6,276 3,157 8,270 2,066 7,619 3,746 2,434 338 173 409 94 298
* Data through September 22.

Footnotes

1. Millions of dollars.

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Last update: September 23, 2014