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 March 27, 2025Posted March 28, 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* 3,904 2,092 735 288 397 214 177 130 67 22 11 15 8 7
Monthly average
2024-Oct. 4,628 3,380 614 257 177 75 126 166 114 19 10 7 3 12
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.* 4,136 2,030 546 352 638 225 345 141 62 17 14 25 9 14
Weekly (Friday) average
Feb. 28 3,721 2,121 222 578 227 285 289 126 69 9 19 10 10 9
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* 5,060 2,974 524 156 437 217 752 171 92 17 7 19 6 30
Daily
Mar. 21 4,895 3,333 925 126 50 280 180 155 96 29 10 1 8 11
Mar. 24 9,019 5,306 1,006 0 141 200 2,366 295 166 33 0 4 4 88
Mar. 25 7,337 5,911 634 279 366 147 0 236 174 24 13 16 9 0
Mar. 26 2,267 193 457 197 459 320 641 93 14 11 12 16 7 33
Mar. 27 1,619 485 0 150 784 200 0 59 12 0 3 39 5 0
* Data through March 27.
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* 10,913 7,032 1,398 926 892 356 309 694 400 96 70 81 36 11
Monthly average
2024-Oct. 9,563 6,572 1,167 652 588 568 15 623 410 78 48 49 36 2
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.* 10,880 7,372 1,165 841 864 293 346 684 404 90 70 78 27 14
Weekly (Friday) average
Feb. 28 11,867 7,485 2,099 876 949 375 83 770 431 140 63 76 45 14
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* 9,959 7,577 920 585 535 334 8 643 427 61 54 64 35 1
Daily
Mar. 21 9,426 7,322 1,380 277 417 16 13 601 397 117 42 31 9 5
Mar. 24 8,997 7,289 678 528 345 149 8 565 410 40 59 44 10 2
Mar. 25 12,415 8,586 1,081 632 1,187 906 24 898 481 83 69 171 91 3
Mar. 26 9,503 7,748 703 597 345 110 0 545 413 51 47 23 11 0
Mar. 27 8,922 6,684 1,217 585 264 171 0 563 405 69 41 20 28 0
* Data through March 27.
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* 3,497 3,096 242 73 23 10 53 85 73 6 2 1 0 3
Monthly average
2024-Oct. 5,862 5,407 136 63 224 10 23 153 139 4 2 7 0 2
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.* 3,518 3,349 70 24 8 9 59 82 75 2 1 0 0 3
Weekly (Friday) average
Feb. 28 3,284 2,770 445 10 15 7 37 74 61 11 0 0 0 1
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* 3,215 3,032 44 0 0 3 135 76 65 2 0 0 0 10
Daily
Mar. 21 3,565 3,465 100 0 0 0 0 78 76 2 0 0 0 0
Mar. 24 3,339 3,145 0 0 0 0 194 83 68 0 0 0 0 15
Mar. 25 3,580 3,245 0 0 0 13 322 95 70 0 0 0 1 24
Mar. 26 2,895 2,795 100 0 0 0 0 63 59 4 0 0 0 0
Mar. 27 3,045 2,945 75 0 0 0 25 65 62 2 0 0 0 1
* Data through March 27.
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* 20,836 14,340 3,548 380 578 433 1,558 596 403 96 11 19 13 55
Monthly average
2024-Oct. 21,435 14,252 3,848 526 707 279 1,823 637 419 103 16 24 10 65
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.* 20,212 13,867 3,470 353 522 550 1,450 576 389 94 11 18 15 50
Weekly (Friday) average
Feb. 28 20,733 14,993 3,139 217 618 325 1,441 573 404 84 6 19 12 49
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* 19,982 13,865 3,633 185 428 482 1,390 568 390 99 8 15 12 45
Daily
Mar. 21 20,971 13,305 3,257 1,405 370 799 1,836 579 368 90 31 19 21 50
Mar. 24 17,763 13,449 1,079 41 594 580 2,020 512 393 31 3 17 14 54
Mar. 25 23,470 13,665 7,779 102 235 255 1,435 671 385 205 5 18 7 51
Mar. 26 18,421 13,013 3,290 259 568 390 901 521 364 88 11 15 11 32
Mar. 27 20,275 15,334 2,383 337 315 703 1,203 569 419 71 13 9 15 42
* Data through March 27.
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* 123,856 82,018 17,830 4,189 6,320 3,360 10,139 4,589 2,709 589 248 407 186 451
Monthly average
2024-Oct. 118,372 77,881 16,641 4,643 6,567 2,927 9,713 4,549 2,705 589 262 361 171 461
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.* 127,301 86,808 16,407 4,215 6,307 3,031 10,534 4,650 2,819 557 264 408 160 442
Weekly (Friday) average
Feb. 28 119,710 83,898 14,382 4,209 6,354 3,260 7,608 4,458 2,745 527 230 369 201 385
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* 128,200 90,003 16,286 2,770 5,877 3,305 9,960 4,669 2,934 520 183 406 184 442
Daily
Mar. 21 130,420 92,091 17,744 5,352 4,610 2,029 8,595 4,588 2,922 589 255 341 99 382
Mar. 24 129,062 95,301 10,722 2,889 5,631 3,207 11,313 4,553 3,065 349 189 356 166 428
Mar. 25 145,054 96,177 21,993 2,398 6,603 3,405 14,477 5,318 3,115 693 161 550 211 588
Mar. 26 116,598 83,507 16,279 2,898 5,539 1,966 6,409 4,205 2,726 526 211 285 128 329
Mar. 27 122,084 85,026 16,150 2,894 5,734 4,641 7,639 4,601 2,828 512 170 435 233 423
* Data through March 27.

Footnotes

1. Millions of dollars.

Last Update: March 28, 2025