Commercial Paper Rates and Outstanding Summary

Volume Statistics for Commercial Paper Issuance RSS Data Download FRED XML

Derived from data supplied by The Depository Trust & Clearing Corporation
Data as of September 21, 2026Posted September 22, 2026

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
2024 3,646 2,214 709 291 232 141 59 129 77 22 11 9 6 4
2025 4,343 2,408 790 382 403 220 140 155 83 25 16 17 9 6
2026* 5,303 2,421 1,561 576 363 263 119 169 75 43 22 15 11 4
Monthly average
2026-Apr. 4,898 2,066 1,624 686 178 217 127 154 63 46 25 7 9 5
May 5,407 1,654 2,434 567 292 371 90 167 52 61 23 13 15 3
June 4,850 2,453 849 560 656 233 100 168 76 23 22 31 12 4
July 5,235 2,724 1,551 346 322 208 84 157 81 42 11 13 7 3
Aug. 5,413 2,883 1,216 421 371 353 169 176 91 32 16 17 14 6
Sept.* 7,104 3,585 1,987 658 281 412 180 219 100 56 22 14 18 9
Weekly (Friday) average
Aug. 28 4,783 2,784 825 637 297 239 2 167 87 29 25 13 12 0
Sept. 4 6,472 3,785 1,695 556 210 65 160 184 99 45 17 9 5 9
Sept. 11 6,191 3,321 1,346 1,092 132 139 160 199 97 41 36 9 7 8
Sept. 18 8,250 3,676 2,633 417 421 940 163 257 103 75 14 21 39 7
Sept. 25* 8,104 5,814 931 403 500 185 271 248 169 33 13 12 8 13
Daily
Sept. 15 10,623 7,886 1,578 152 130 876 0 331 223 49 10 7 42 0
Sept. 16 8,505 5,064 1,472 50 296 1,139 482 249 133 48 1 12 41 14
Sept. 17 5,926 1,086 1,279 742 1,156 1,330 333 263 44 49 26 68 55 21
Sept. 18 10,280 858 7,755 798 270 598 0 293 30 199 23 7 34 0
Sept. 21 8,104 5,814 931 403 500 185 271 248 169 33 13 12 8 13
* Data through September 21.
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
2024 10,068 6,639 1,251 805 782 438 154 674 410 82 65 74 35 8
2025 9,753 6,135 1,164 919 870 366 298 640 378 75 66 73 36 12
2026* 12,383 7,681 1,428 1,341 1,281 317 335 752 415 86 96 111 31 14
Monthly average
2026-Apr. 10,955 6,460 1,534 1,231 1,197 313 219 655 320 97 94 103 33 8
May 12,694 7,789 1,574 1,375 1,149 288 520 769 392 93 105 119 36 25
June 12,292 7,884 1,196 1,481 1,220 318 192 702 388 67 98 118 24 7
July 12,820 7,718 1,287 1,353 1,651 441 370 722 380 71 92 138 30 10
Aug. 11,416 7,186 1,349 1,212 1,057 296 316 638 345 78 86 86 32 11
Sept.* 12,244 7,871 1,615 1,139 1,130 330 159 700 394 87 74 98 32 16
Weekly (Friday) average
Aug. 28 11,915 7,048 1,319 1,055 1,143 154 1,196 656 356 82 80 91 16 31
Sept. 4 11,978 7,694 1,460 1,108 1,411 280 26 678 378 78 74 114 32 2
Sept. 11 12,038 7,441 1,793 1,227 1,051 265 261 676 360 96 84 94 19 22
Sept. 18 12,747 8,456 1,550 1,155 1,033 345 208 744 435 85 69 95 37 24
Sept. 25* 11,569 8,055 1,294 826 714 675 5 649 417 66 57 65 43 1
Daily
Sept. 15 14,070 10,058 1,611 802 1,000 542 57 814 527 75 55 113 41 3
Sept. 16 12,702 9,071 1,678 879 644 66 365 772 468 91 49 74 11 79
Sept. 17 13,991 8,611 1,529 1,561 1,574 378 339 820 462 97 79 102 61 19
Sept. 18 11,744 6,679 1,582 1,516 1,361 427 179 637 324 85 78 113 29 8
Sept. 21 11,569 8,055 1,294 826 714 675 5 649 417 66 57 65 43 1
* Data through September 21.
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
2024 4,778 4,427 189 38 64 10 50 127 116 6 1 2 0 2
2025 4,188 3,834 186 54 39 16 59 114 103 5 1 1 1 3
2026* 5,076 4,782 114 41 25 9 105 143 132 3 1 1 0 5
Monthly average
2026-Apr. 4,550 4,303 94 50 38 1 63 125 117 3 1 2 0 2
May 5,425 4,986 200 30 46 23 140 145 132 6 1 1 1 5
June 5,266 4,726 153 42 15 4 327 153 128 5 1 0 0 19
July 5,465 5,162 121 52 34 13 83 148 138 4 1 1 1 3
Aug. 5,436 5,118 154 15 27 14 109 156 143 5 0 1 0 6
Sept.* 5,712 5,419 176 12 5 6 95 160 147 5 0 0 0 7
Weekly (Friday) average
Aug. 28 5,620 5,300 229 61 0 0 30 159 150 7 1 0 0 1
Sept. 4 5,224 4,903 157 0 7 30 127 156 141 5 0 0 1 9
Sept. 11 6,003 5,558 242 40 0 8 156 171 152 6 1 0 0 12
Sept. 18 5,503 5,345 142 0 6 0 10 142 139 3 0 1 0 0
Sept. 25* 5,325 5,300 0 0 0 0 25 122 121 0 0 0 0 1
Daily
Sept. 15 4,977 4,977 0 0 0 0 0 141 141 0 0 0 0 0
Sept. 16 5,802 5,802 0 0 0 0 0 149 149 0 0 0 0 0
Sept. 17 5,890 5,150 710 0 30 0 0 145 127 15 0 3 0 0
Sept. 18 5,635 5,635 0 0 0 0 0 144 144 0 0 0 0 0
Sept. 21 5,325 5,300 0 0 0 0 25 122 121 0 0 0 0 1
* Data through September 21.
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
2024 22,542 15,680 3,545 517 713 466 1,621 660 449 96 15 24 15 60
2025 20,791 13,932 3,757 416 643 426 1,616 608 402 102 13 22 14 56
2026* 20,831 13,444 4,220 407 580 458 1,722 587 365 118 12 20 15 57
Monthly average
2026-Apr. 19,936 12,927 4,179 316 583 452 1,479 550 340 118 10 20 14 49
May 21,724 14,172 4,265 546 459 497 1,786 607 376 123 17 15 19 57
June 21,857 13,916 4,114 504 716 445 2,161 610 372 118 14 25 14 67
July 22,119 15,179 4,132 319 659 432 1,398 609 401 114 10 22 12 50
Aug. 22,269 14,946 4,270 315 601 448 1,688 617 397 118 10 20 15 58
Sept.* 25,720 17,103 5,508 485 564 495 1,565 686 440 147 14 19 15 50
Weekly (Friday) average
Aug. 28 22,956 15,417 4,525 260 668 411 1,674 627 411 123 9 18 13 53
Sept. 4 23,475 15,751 5,182 594 440 418 1,090 627 403 137 18 15 14 41
Sept. 11 25,881 16,203 6,427 592 540 414 1,705 699 426 170 17 15 11 59
Sept. 18 25,769 17,894 4,972 247 669 449 1,538 689 462 134 8 26 14 45
Sept. 25* 27,702 19,176 2,929 437 1,006 1,444 2,710 701 475 82 10 26 42 66
Daily
Sept. 15 26,732 17,408 5,700 60 814 139 2,611 695 443 144 2 33 7 66
Sept. 16 23,830 17,009 5,015 105 511 235 955 666 458 148 3 14 7 36
Sept. 17 29,765 17,882 7,685 381 791 620 2,406 789 456 199 16 42 15 61
Sept. 18 25,305 19,125 3,247 424 624 828 1,057 719 509 101 14 20 30 45
Sept. 21 27,702 19,176 2,929 437 1,006 1,444 2,710 701 475 82 10 26 42 66
* Data through September 21.
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
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 122,146 80,064 17,192 4,952 6,646 3,325 9,968 4,727 2,820 590 286 405 193 433
2026* 128,442 81,687 19,993 5,756 6,702 3,379 10,926 4,820 2,766 657 326 413 183 477
Monthly average
2026-Apr. 118,630 72,771 19,493 5,237 6,599 3,474 11,054 4,461 2,437 641 326 402 179 476
May 133,427 85,235 21,444 6,064 5,779 3,452 11,454 4,951 2,822 690 340 397 199 503
June 134,730 87,191 18,990 6,969 7,698 2,923 10,958 4,918 2,839 609 360 460 160 490
July 142,053 94,123 21,414 5,246 7,046 3,806 10,417 5,012 2,972 666 300 426 190 457
Aug. 135,608 89,909 20,498 5,464 5,873 3,423 10,441 4,787 2,822 638 304 366 209 449
Sept.* 148,649 98,773 24,234 6,098 6,356 3,174 10,013 5,190 3,097 773 315 379 175 450
Weekly (Friday) average
Aug. 28 142,137 92,942 22,240 4,651 5,795 3,719 12,791 4,910 2,893 679 281 368 191 497
Sept. 4 136,282 90,202 22,447 5,879 5,988 2,642 9,124 4,789 2,812 695 310 369 189 414
Sept. 11 145,385 93,954 26,766 7,172 4,866 2,658 9,968 5,055 2,922 852 361 326 142 450
Sept. 18 154,983 106,263 22,740 5,480 7,285 3,475 9,739 5,479 3,379 757 291 420 172 460
Sept. 25* 150,285 106,851 14,333 3,887 7,875 5,432 11,907 5,033 3,326 490 211 348 238 420
Daily
Sept. 15 157,412 107,700 25,388 5,250 6,276 4,069 8,729 5,661 3,554 806 313 394 196 398
Sept. 16 148,273 108,890 18,092 4,292 6,108 2,494 8,397 5,388 3,533 648 237 396 107 467
Sept. 17 182,148 106,887 37,691 6,861 10,630 4,599 15,480 6,444 3,372 1,180 332 576 248 736
Sept. 18 150,946 99,778 21,945 6,490 8,590 3,782 10,360 5,219 3,152 748 280 450 170 419
Sept. 21 150,285 106,851 14,333 3,887 7,875 5,432 11,907 5,033 3,326 490 211 348 238 420
* Data through September 21.

Footnotes

1. Millions of dollars.

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Last Update: September 22, 2026