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 July 30, 2014Posted July 31, 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* 4,346 2,460 564 240 409 319 353 173 97 20 11 18 12 16
Monthly average
2014-Feb. 2,835 1,071 414 162 535 325 328 127 50 15 8 24 13 17
Mar. 3,600 1,757 505 256 244 490 347 145 72 17 10 10 18 17
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* 5,964 3,769 698 258 461 382 397 227 138 26 12 20 14 17
Weekly (Friday) average
July 4 5,981 2,926 1,030 357 576 715 377 246 128 39 18 30 18 14
July 11 6,720 4,740 426 112 331 577 533 246 169 13 6 14 21 23
July 18 5,258 3,061 1,056 254 351 257 279 212 117 39 11 19 14 12
July 25 6,221 4,470 570 246 334 97 503 224 155 22 10 10 4 22
Aug. 1* 5,619 3,425 443 397 835 297 222 215 123 18 18 31 12 13
Daily
July 24 3,707 1,418 838 363 439 77 571 138 58 23 26 10 3 18
July 25 5,701 5,011 422 101 70 24 75 204 181 12 3 4 2 2
July 28 8,074 5,255 486 756 1,341 116 122 289 182 17 31 46 5 8
July 29 5,825 3,690 398 260 930 189 358 237 138 16 13 38 13 19
July 30 2,957 1,330 445 176 234 585 187 118 49 20 11 9 18 11
* Data through July 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
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* 4,786 2,780 681 603 563 107 54 423 238 59 58 54 10 4
Monthly average
2014-Feb. 4,948 2,927 787 498 512 141 83 424 246 63 47 48 13 7
Mar. 4,496 2,667 762 390 475 118 85 413 238 70 40 47 12 6
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* 4,990 3,034 563 652 658 57 27 437 257 50 63 59 5 2
Weekly (Friday) average
July 4 5,778 3,007 743 837 1,089 58 44 464 239 56 73 89 4 2
July 11 4,831 2,975 477 645 629 94 11 408 243 42 60 54 10 1
July 18 4,832 2,918 587 584 671 23 49 438 255 56 57 63 2 5
July 25 4,658 2,989 517 636 479 29 7 426 258 48 69 48 3 1
Aug. 1* 4,994 3,455 427 555 442 100 14 462 312 43 54 42 9 1
Daily
July 24 4,453 2,806 536 917 194 0 0 429 267 49 89 24 0 0
July 25 5,435 3,509 273 766 821 30 37 481 281 29 94 70 4 3
July 28 5,410 4,085 438 344 375 132 37 476 364 33 32 31 14 2
July 29 4,755 3,259 385 643 339 124 5 436 279 51 60 36 9 1
July 30 4,816 3,022 460 678 612 44 0 475 294 46 70 60 5 0
* Data through July 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
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* 2,699 1,852 161 35 66 108 476 120 80 6 2 4 5 24
Monthly average
2014-Feb. 2,124 1,229 144 46 45 173 486 102 52 5 2 3 8 32
Mar. 1,979 1,421 85 22 67 87 298 87 57 3 1 4 4 17
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* 4,015 2,839 398 34 69 64 612 176 126 13 1 4 3 29
Weekly (Friday) average
July 4 3,719 2,450 588 27 61 64 529 148 91 24 1 5 2 25
July 11 4,316 3,025 292 25 69 46 859 179 124 9 1 4 3 40
July 18 4,150 3,187 290 50 53 86 485 195 152 9 1 4 3 26
July 25 3,445 2,326 529 39 95 48 407 169 124 16 2 4 2 20
Aug. 1* 3,850 2,553 178 43 84 95 898 153 104 6 4 4 4 31
Daily
July 24 3,311 1,684 611 0 200 174 642 126 80 18 0 5 5 18
July 25 3,248 2,744 13 101 50 7 333 184 163 1 3 1 2 14
July 28 2,756 1,958 208 70 20 45 456 116 71 6 5 4 2 28
July 29 3,854 2,840 75 41 110 174 616 194 152 6 2 5 8 21
July 30 4,939 2,862 250 18 121 65 1,623 150 90 6 4 3 2 45
* Data through July 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
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* 9,521 5,157 744 253 1,626 475 1,266 380 212 34 10 59 19 46
Monthly average
2014-Feb. 10,711 5,959 647 240 1,849 399 1,618 415 231 32 11 67 18 58
Mar. 10,032 5,438 606 233 1,671 533 1,551 396 222 31 10 60 20 52
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* 8,858 4,493 1,045 282 1,534 508 997 364 197 42 9 57 21 39
Weekly (Friday) average
July 4 9,500 5,271 1,067 233 1,142 382 1,404 386 222 43 10 47 18 46
July 11 9,643 5,000 1,242 211 1,340 661 1,189 402 219 48 8 52 27 48
July 18 9,376 4,179 1,072 266 1,990 753 1,116 380 187 43 7 78 26 39
July 25 7,631 3,822 917 121 1,668 265 838 328 176 40 4 59 14 35
Aug. 1* 7,771 4,428 626 683 1,367 313 354 309 187 31 17 43 13 18
Daily
July 24 7,420 4,434 646 55 912 415 960 339 203 31 2 31 26 46
July 25 7,778 3,852 886 78 2,001 350 611 332 173 38 3 71 16 31
July 28 7,962 4,448 616 217 1,810 681 189 324 192 26 8 54 25 19
July 29 8,403 4,497 604 1,346 1,337 91 528 310 188 33 30 39 5 15
July 30 6,947 4,339 659 485 953 167 344 292 181 34 12 35 10 20
* Data through July 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
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* 77,606 50,697 8,522 2,968 6,311 2,440 6,667 3,368 2,061 358 188 335 126 300
Monthly average
2014-Feb. 81,100 53,828 7,842 2,859 6,737 2,461 7,373 3,437 2,087 336 184 349 130 352
Mar. 75,388 49,878 7,304 2,740 5,377 2,629 7,461 3,263 2,025 331 172 286 131 318
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* 79,841 51,822 10,429 2,674 6,621 2,427 5,868 3,443 2,115 403 179 360 121 265
Weekly (Friday) average
July 4 77,364 44,420 10,733 3,331 8,557 3,386 6,937 3,412 1,883 426 222 456 140 284
July 11 80,365 51,649 9,812 2,378 7,104 2,642 6,780 3,451 2,095 370 168 387 135 296
July 18 76,556 48,877 10,166 2,949 6,525 2,548 5,491 3,424 2,079 399 177 368 134 268
July 25 79,098 53,996 10,188 2,504 5,667 1,880 4,864 3,400 2,178 403 176 318 95 231
Aug. 1* 81,043 55,345 10,177 2,608 6,147 1,446 5,319 3,354 2,205 381 159 304 85 220
Daily
July 24 77,376 53,230 9,202 2,587 5,780 1,892 4,685 3,235 2,112 371 189 265 101 197
July 25 78,780 57,787 5,788 2,604 5,645 1,557 5,399 3,484 2,312 256 205 405 87 219
July 28 83,075 56,587 10,330 2,427 6,894 1,828 5,009 3,423 2,275 339 156 322 111 220
July 29 81,658 54,563 10,273 2,898 6,434 977 6,513 3,333 2,184 417 145 290 57 240
July 30 78,395 54,886 9,930 2,498 5,114 1,534 4,435 3,305 2,156 386 177 300 87 199
* Data through July 30.

Footnotes

1. Millions of dollars.

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Last update: July 31, 2014