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 April 3, 2025Posted April 4, 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* 3,839 2,045 686 281 423 214 189 129 66 20 11 16 8 7
Monthly average
2024-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. 3,473 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.* 4,014 2,002 174 100 964 313 461 144 75 7 3 38 11 10
Weekly (Friday) average
Mar. 7 3,663 2,031 481 122 614 174 240 125 66 11 5 22 11 9
Mar. 14 3,936 789 597 882 1,248 161 259 139 23 21 33 47 5 10
Mar. 21 4,071 2,514 578 207 214 346 211 133 72 18 9 10 14 10
Mar. 28 4,442 2,597 431 125 494 193 601 152 80 14 6 23 6 24
Apr. 4* 3,345 1,587 130 250 723 235 421 130 62 6 8 28 8 17
Daily
Mar. 28 1,971 1,091 60 0 719 100 0 79 34 2 0 39 4 0
Mar. 31 1,340 340 0 700 0 0 300 85 25 0 23 0 0 37
Apr. 1 6,626 5,158 450 0 478 540 0 255 193 11 0 30 21 0
Apr. 2 3,484 465 5 0 1,850 185 980 104 21 1 0 54 6 22
Apr. 3 1,931 384 67 300 563 215 403 74 11 10 9 30 5 9
* Data through April 3.
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* 10,784 6,988 1,351 892 882 380 291 688 397 94 68 79 39 11
Monthly average
2024-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. 10,444 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.* 9,793 6,415 945 488 894 928 123 640 346 79 42 62 103 8
Weekly (Friday) average
Mar. 7 10,947 7,386 1,381 740 1,028 252 162 672 392 98 51 81 26 25
Mar. 14 11,660 6,938 1,169 1,165 847 434 1,108 713 397 99 88 74 29 26
Mar. 21 10,769 7,629 1,140 822 982 160 37 699 406 99 83 90 19 3
Mar. 28 9,602 7,325 862 583 507 317 6 626 421 62 54 57 31 1
Apr. 4* 9,536 6,511 837 480 861 754 92 637 364 81 38 64 85 6
Daily
Mar. 28 8,171 6,318 632 576 396 249 0 557 396 67 55 26 13 0
Mar. 31 8,764 6,799 514 457 760 233 0 627 418 86 25 68 30 0
Apr. 1 9,386 6,793 653 368 495 727 350 609 366 60 44 38 85 16
Apr. 2 10,539 6,277 1,056 444 1,448 1,313 0 679 329 88 32 96 134 0
Apr. 3 9,454 6,175 1,126 652 740 742 19 633 342 90 49 53 91 8
* Data through April 3.
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* 3,494 3,098 234 70 22 10 60 84 72 6 2 1 0 3
Monthly average
2024-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. 3,334 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.* 3,766 3,262 225 67 10 17 186 87 72 5 1 1 0 7
Weekly (Friday) average
Mar. 7 3,749 3,626 65 0 30 3 25 93 89 2 0 2 0 1
Mar. 14 3,518 3,240 111 90 0 22 55 78 70 3 2 0 1 2
Mar. 21 3,531 3,434 56 0 0 5 36 78 75 2 0 0 0 1
Mar. 28 3,251 3,075 35 0 0 3 139 77 65 1 0 0 0 10
Apr. 4* 3,468 3,090 169 50 8 12 139 79 67 4 1 1 0 6
Daily
Mar. 28 3,398 3,245 0 0 0 0 153 77 68 0 0 0 0 9
Mar. 31 2,575 2,575 0 0 0 0 0 54 54 0 0 0 0 0
Apr. 1 3,963 3,045 500 200 0 50 168 88 67 11 4 0 1 5
Apr. 2 3,515 3,295 100 0 30 0 90 85 72 3 0 3 0 7
Apr. 3 3,819 3,445 75 0 0 0 299 88 76 2 0 0 0 10
* Data through April 3.
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* 20,718 14,290 3,546 370 571 446 1,494 593 402 96 11 19 13 53
Monthly average
2024-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. 20,719 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.* 19,914 13,238 4,410 190 452 747 877 570 376 117 5 16 20 37
Weekly (Friday) average
Mar. 7 19,404 12,881 3,377 460 668 637 1,382 559 364 93 11 21 18 53
Mar. 14 20,704 14,517 3,424 301 477 469 1,516 594 407 95 12 14 14 53
Mar. 21 20,712 14,206 3,480 432 495 600 1,499 582 394 91 12 21 17 48
Mar. 28 20,130 14,082 3,587 264 481 479 1,237 576 397 100 10 16 13 40
Apr. 4* 18,973 13,392 3,567 177 439 634 765 544 381 95 5 16 17 30
Daily
Mar. 28 20,720 14,949 3,403 579 696 469 625 606 422 105 16 22 19 22
Mar. 31 16,152 13,854 1,039 137 401 293 428 463 395 30 6 14 7 11
Apr. 1 23,202 12,989 7,782 350 680 647 754 651 379 194 7 17 18 36
Apr. 2 17,711 12,237 2,884 145 367 989 1,089 534 357 83 4 16 25 49
Apr. 3 18,828 14,487 2,563 75 308 605 789 526 392 74 3 15 17 25
* Data through April 3.
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* 123,488 81,899 17,658 4,145 6,405 3,402 9,980 4,584 2,706 586 246 410 189 446
Monthly average
2024-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. 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.* 129,908 83,535 19,304 4,006 8,346 4,616 10,100 4,865 2,729 646 243 505 289 453
Weekly (Friday) average
Mar. 7 124,574 83,146 15,153 4,263 7,961 2,698 11,354 4,612 2,748 516 246 464 144 493
Mar. 14 126,426 84,682 16,638 5,343 5,900 2,803 11,060 4,618 2,762 560 343 385 149 419
Mar. 21 130,185 90,041 17,525 4,196 5,403 3,371 9,649 4,704 2,857 623 268 376 166 414
Mar. 28 125,928 89,770 15,224 2,814 5,574 3,321 9,226 4,606 2,941 499 195 385 175 411
Apr. 4* 119,725 78,412 16,795 3,790 8,159 4,022 8,548 4,558 2,596 598 223 483 256 402
Daily
Mar. 28 116,839 88,837 10,975 2,990 4,363 3,386 6,289 4,355 2,973 413 246 299 138 286
Mar. 31 89,178 63,044 9,265 3,144 7,596 2,239 3,891 3,637 2,196 451 164 417 158 251
Apr. 1 140,491 85,009 26,695 4,066 9,317 5,401 10,003 5,227 2,839 809 258 579 305 437
Apr. 2 125,789 82,499 14,981 3,515 9,088 4,257 11,448 4,741 2,699 506 219 511 298 508
Apr. 3 123,443 83,097 16,237 4,436 6,634 4,190 8,850 4,626 2,650 624 251 424 263 414
* Data through April 3.

Footnotes

1. Millions of dollars.

Last Update: April 4, 2025