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 May 12, 2025Posted May 13, 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
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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* 3,855 2,056 628 283 398 293 198 131 66 19 10 16 11 8
Monthly average
2024-Dec. 3,920 2,566 653 317 274 79 32 129 86 18 12 9 2 2
2025-Jan. 3,473 2,079 878 173 141 179 22 113 67 26 7 6 7 1
Feb. 4,147 2,170 765 351 440 243 179 137 72 22 13 15 8 6
Mar. 3,900 1,904 497 352 612 208 327 135 59 15 14 24 9 15
Apr. 3,576 1,542 464 231 472 576 292 128 51 15 7 21 22 11
May* 4,813 3,533 441 372 204 155 108 157 105 11 14 10 10 7
Weekly (Friday) average
Apr. 18 3,451 296 742 453 522 1,256 182 131 9 23 13 28 49 8
Apr. 25 3,993 2,331 733 51 165 212 502 130 67 22 1 8 9 23
May 2 2,403 946 877 482 22 72 5 82 34 26 17 1 4 0
May 9 4,727 3,957 15 152 286 144 173 154 111 0 6 15 10 11
May 16* 5,968 5,475 5 0 103 385 0 200 173 1 0 4 22 0
Daily
May 6 3,928 3,560 0 0 113 80 175 131 105 0 0 5 6 15
May 7 4,320 3,475 75 400 30 115 225 125 86 2 14 2 4 17
May 8 3,452 1,740 0 156 1,035 161 360 144 63 0 5 53 8 15
May 9 6,072 5,658 0 171 57 165 20 181 158 0 7 2 8 6
May 12 5,968 5,475 5 0 103 385 0 200 173 1 0 4 22 0
* Data through May 12.
A2/P2 nonfinancial
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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* 10,287 6,757 1,252 828 853 342 255 654 383 86 64 76 35 10
Monthly average
2024-Dec. 8,980 5,666 1,174 684 656 483 318 584 352 79 54 63 28 9
2025-Jan. 10,444 6,573 1,416 934 919 385 218 664 377 92 71 80 39 6
Feb. 11,464 7,200 1,611 1,002 890 389 373 738 420 105 70 84 43 14
Mar. 10,650 7,295 1,108 810 837 288 313 675 405 89 67 75 26 13
Apr. 9,322 6,350 1,001 614 797 350 210 593 359 68 54 69 34 10
May* 8,784 5,892 1,040 773 789 241 49 538 324 66 55 64 28 2
Weekly (Friday) average
Apr. 18 8,887 6,093 1,144 504 908 165 73 572 348 63 45 89 19 8
Apr. 25 9,805 6,277 980 705 730 442 671 609 379 64 57 58 32 19
May 2 9,374 6,468 1,418 870 497 109 12 582 356 106 64 39 14 3
May 9 8,746 5,918 917 706 900 229 75 550 326 61 53 77 31 3
May 16* 9,067 5,751 1,270 768 766 503 10 521 316 71 48 47 37 2
Daily
May 6 8,854 6,178 817 571 1,041 247 0 580 340 59 37 94 50 0
May 7 7,568 5,268 962 575 591 72 100 476 282 60 51 70 11 2
May 8 9,266 5,546 922 696 1,632 320 150 595 296 63 75 112 42 7
May 9 9,295 5,995 1,038 1,228 740 267 27 553 332 67 65 58 29 2
May 12 9,067 5,751 1,270 768 766 503 10 521 316 71 48 47 37 2
* Data through May 12.
AA financial
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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* 3,496 3,132 215 63 19 11 55 86 75 5 1 1 0 3
Monthly average
2024-Dec. 4,487 3,934 176 137 31 8 200 128 109 5 4 1 0 8
2025-Jan. 3,334 2,823 316 81 35 17 63 84 69 8 2 1 1 3
Feb. 3,657 3,144 333 113 26 4 36 88 75 8 3 1 0 2
Mar. 3,468 3,307 64 22 7 8 61 80 74 2 0 0 0 3
Apr. 3,406 3,135 153 49 13 13 43 82 74 4 1 0 0 2
May* 3,856 3,451 241 44 12 10 98 110 94 6 1 1 0 8
Weekly (Friday) average
Apr. 18 2,693 2,566 75 0 14 27 11 60 56 2 0 0 1 1
Apr. 25 4,174 3,709 335 76 5 15 34 111 98 8 2 0 1 3
May 2 3,685 3,538 65 0 6 0 76 104 95 2 0 1 0 7
May 9 3,835 3,345 340 70 14 16 50 105 91 9 2 0 0 2
May 16* 3,226 3,045 0 0 0 0 181 96 77 0 0 0 0 19
Daily
May 6 3,245 3,245 0 0 0 0 0 90 90 0 0 0 0 0
May 7 4,045 3,395 100 350 0 0 200 102 84 4 8 0 0 6
May 8 4,720 3,045 1,575 0 45 30 25 127 85 39 0 1 1 1
May 9 3,145 3,045 25 0 25 50 0 83 80 1 0 1 1 0
May 12 3,226 3,045 0 0 0 0 181 96 77 0 0 0 0 19
* Data through May 12.
AA asset-backed
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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* 20,691 14,224 3,564 341 614 464 1,484 592 400 96 10 20 14 52
Monthly average
2024-Dec. 21,665 14,626 3,446 675 689 352 1,878 624 415 91 19 23 11 65
2025-Jan. 20,719 14,287 3,684 382 586 354 1,425 600 408 98 11 19 11 52
Feb. 21,590 14,871 3,474 404 625 403 1,813 613 412 94 11 20 13 63
Mar. 20,043 13,918 3,351 353 524 534 1,362 572 390 92 11 18 15 47
Apr. 20,670 14,075 3,852 224 693 572 1,254 584 394 102 6 22 17 43
May* 20,237 13,728 3,230 375 680 411 1,813 599 393 91 10 26 15 64
Weekly (Friday) average
Apr. 18 18,596 12,278 3,895 141 558 580 1,145 525 344 101 5 19 15 41
Apr. 25 21,312 14,666 3,754 346 743 403 1,400 605 407 106 9 22 12 49
May 2 20,548 14,404 3,710 142 589 463 1,239 608 416 100 5 25 17 45
May 9 20,864 13,643 3,721 509 639 522 1,830 618 390 104 12 22 21 69
May 16* 20,314 15,506 1,540 3 632 278 2,356 584 437 50 1 24 8 64
Daily
May 6 22,953 13,150 5,904 0 809 389 2,703 679 384 155 0 30 10 100
May 7 22,342 13,991 3,945 500 462 1,458 1,985 622 387 107 10 15 36 67
May 8 22,895 14,568 5,370 469 507 261 1,720 669 401 140 15 22 7 84
May 9 18,517 13,857 2,333 0 420 352 1,555 603 407 80 0 16 47 53
May 12 20,314 15,506 1,540 3 632 278 2,356 584 437 50 1 24 8 64
* Data through May 12.
Total market
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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* 123,322 81,977 17,473 4,164 6,343 3,662 9,703 4,557 2,702 579 245 404 197 430
Monthly average
2024-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. 120,403 77,804 18,794 4,098 6,651 3,680 9,376 4,504 2,598 607 239 417 210 432
Feb. 124,227 81,885 18,187 4,263 5,968 3,336 10,588 4,623 2,720 600 241 396 185 481
Mar. 124,988 85,773 15,808 4,106 6,275 3,010 10,016 4,587 2,797 545 258 403 158 425
Apr. 120,323 79,846 17,414 3,991 6,332 4,398 8,342 4,444 2,635 576 236 399 225 372
May* 132,715 89,048 16,840 4,728 6,633 4,081 11,386 4,767 2,862 552 263 405 211 474
Weekly (Friday) average
Apr. 18 105,755 66,738 18,004 3,415 5,449 5,142 7,008 3,906 2,182 567 209 372 241 333
Apr. 25 130,406 87,344 18,920 3,694 5,949 4,032 10,467 4,804 2,898 623 234 383 208 458
May 2 120,966 81,364 18,209 4,056 6,484 3,263 7,591 4,528 2,723 622 238 400 182 363
May 9 137,760 91,021 18,207 4,897 6,443 5,004 12,187 4,922 2,916 585 271 410 251 490
May 16* 130,574 94,619 11,473 2,708 7,081 2,984 11,708 4,600 2,972 442 164 360 178 484
Daily
May 6 135,095 86,829 21,914 3,606 5,399 4,978 12,369 4,855 2,851 707 207 382 240 468
May 7 141,262 92,498 22,023 5,395 4,822 4,913 11,611 4,837 2,905 688 248 337 206 453
May 8 149,786 90,697 23,499 6,727 9,382 6,068 13,412 5,497 2,874 693 419 575 295 641
May 9 137,918 95,625 16,332 5,262 6,376 3,528 10,794 4,849 3,011 524 309 382 220 403
May 12 130,574 94,619 11,473 2,708 7,081 2,984 11,708 4,600 2,972 442 164 360 178 484
* Data through May 12.

Footnotes

1. Millions of dollars.

Last Update: May 13, 2025