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 August 29, 2014Posted September 2, 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* 4,558 2,561 630 243 427 332 366 178 98 21 11 18 13 17
Monthly average
2014-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 5,863 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
Weekly (Friday) average
Aug. 1 5,805 2,580 1,112 385 717 559 452 217 94 33 19 27 24 19
Aug. 8 6,729 3,811 1,593 228 335 400 363 223 120 50 6 16 17 14
Aug. 15 5,332 2,855 533 241 576 614 513 199 105 17 9 22 26 20
Aug. 22 6,912 4,033 1,353 179 578 146 622 236 130 37 8 25 6 29
Aug. 29* 4,849 2,998 381 337 691 279 163 176 104 11 15 27 11 8
Daily
Aug. 26 5,383 3,446 108 741 618 262 208 197 128 4 25 21 9 10
Aug. 27 5,684 3,370 72 458 744 769 272 212 123 3 25 26 24 11
Aug. 28 4,280 1,857 575 194 1,392 175 87 156 63 14 11 53 10 5
Aug. 29 3,144 2,022 462 251 289 50 71 131 78 15 13 14 4 7
Sept. 1 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 August 29.

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* 4,762 2,812 654 587 559 101 50 422 242 57 56 53 10 4
Monthly average
2014-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 4,988 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
Weekly (Friday) average
Aug. 1 5,123 3,405 321 655 646 85 10 469 304 34 61 62 7 1
Aug. 8 4,559 2,829 412 677 555 81 5 409 251 41 66 44 8 0
Aug. 15 4,217 2,984 405 397 357 53 20 377 266 34 35 35 5 2
Aug. 22 4,598 2,983 659 434 441 44 36 437 284 64 37 45 5 3
Aug. 29* 4,747 3,189 545 299 600 71 43 400 260 54 28 47 6 5
Daily
Aug. 26 4,798 2,922 429 390 882 5 170 390 233 50 39 43 1 24
Aug. 27 5,205 3,205 789 312 809 56 33 449 284 65 30 64 5 1
Aug. 28 4,868 3,389 618 287 548 16 10 411 269 52 27 56 5 2
Aug. 29 4,198 3,312 232 237 339 79 0 347 268 29 19 28 3 0
Sept. 1 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 August 29.

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* 2,950 2,102 158 36 70 104 480 132 92 6 2 4 5 25
Monthly average
2014-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 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
Weekly (Friday) average
Aug. 1 4,043 2,417 149 37 168 63 1,210 157 100 6 3 6 4 39
Aug. 8 4,245 3,468 157 75 91 4 451 186 147 5 3 4 1 26
Aug. 15 3,606 2,941 67 64 68 122 343 195 159 2 3 4 4 21
Aug. 22 5,046 4,311 138 23 57 80 437 218 176 4 1 5 4 28
Aug. 29* 5,678 4,944 182 13 90 125 324 253 213 6 2 6 7 20
Daily
Aug. 26 7,766 7,008 125 8 95 100 430 327 294 3 1 7 2 20
Aug. 27 7,048 6,417 28 0 84 176 342 311 269 2 0 9 13 18
Aug. 28 5,341 4,509 195 30 81 69 456 260 207 9 5 6 5 28
Aug. 29 1,492 879 355 27 16 128 88 74 33 11 2 3 7 18
Sept. 1 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 August 29.

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* 9,456 5,053 751 263 1,632 459 1,297 382 211 35 10 60 19 47
Monthly average
2014-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 8,766 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
Weekly (Friday) average
Aug. 1 7,888 4,436 722 585 1,222 301 622 327 194 35 16 43 13 26
Aug. 8 9,221 4,299 793 266 1,511 381 1,970 400 198 41 10 56 19 77
Aug. 15 9,340 4,778 788 397 1,821 400 1,156 404 212 38 14 74 16 51
Aug. 22 9,163 4,274 676 339 2,026 408 1,440 404 197 36 11 84 17 59
Aug. 29* 8,767 4,084 903 291 1,603 247 1,640 366 194 43 11 57 11 50
Daily
Aug. 26 8,616 4,593 676 193 2,271 326 556 353 199 35 8 75 12 24
Aug. 27 8,881 3,857 1,202 316 2,232 223 1,050 365 192 48 12 66 7 40
Aug. 28 11,242 4,138 1,171 576 1,388 155 3,814 443 193 63 21 62 5 99
Aug. 29 6,883 3,571 1,028 165 1,342 143 633 316 188 49 4 47 8 20
Sept. 1 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 August 29.

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* 78,163 51,006 8,761 2,944 6,373 2,418 6,661 3,380 2,069 362 187 337 125 301
Monthly average
2014-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 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
Weekly (Friday) average
Aug. 1 79,523 52,396 9,577 3,042 6,808 1,942 5,756 3,333 2,102 356 183 344 106 243
Aug. 8 83,654 53,950 11,023 2,837 6,002 2,211 7,631 3,478 2,133 390 194 317 112 332
Aug. 15 77,089 49,699 9,902 2,891 6,642 2,229 5,727 3,338 2,040 372 180 347 115 285
Aug. 22 84,306 55,429 10,929 2,580 6,265 2,707 6,396 3,558 2,171 420 149 350 139 329
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
Daily
Aug. 26 87,434 58,633 11,255 2,322 7,488 1,508 6,227 3,542 2,293 399 151 353 76 270
Aug. 27 94,739 60,388 10,535 2,560 8,188 2,657 10,410 3,925 2,339 440 159 358 165 464
Aug. 28 90,962 59,291 10,577 2,668 8,998 1,786 7,643 3,777 2,286 465 172 453 93 308
Aug. 29 60,331 37,079 7,899 2,732 8,808 1,042 2,771 2,764 1,631 327 182 396 70 158
Sept. 1 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 August 29.

Footnotes

1. Millions of dollars.

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Last update: September 2, 2014