Board of Governors of the Federal Reserve System

The Board of Governors of the Federal Reserve System and the Federal Reserve Bank of St. Louis's Federal Reserve Economic Data (FRED) program are working together to expand options for finding, accessing, and visualizing data from the Board's Data Download Program (DDP) in FRED. Learn more about the DDP and FRED partnership.

On March 12, 2024, text on the Commercial Paper "About" page was updated. The page reverted to a previous version of the page text. No data was changed.

On March 26, 2023, the Federal Reserve will make minor changes to the format of all XML files released through the Data Download Program (DDP).

The November 8, 2022 Commercial Paper release and data are now available. The data are available at: https://www.federalreserve.gov/releases/cp/

The Commercial Paper release for Tuesday, November 8 is delayed and will be updated as soon as possible.

The Federal Reserve Board is conducting an online survey to collect data on online usage and consumption preferences of users of the Board's Data Download Program (DDP) website.

Visit our website to take the survey: https://boardofgovernors.gov1.qualtrics.com/jfe/form/SV_1I95KuU02McZSwS

The Federal Reserve Board is conducting focus groups to collect data on online usage and consumption preferences of users of the Board's Data Download Program (DDP) website.

Visit our Contact Us page, enter your information, and write "volunteer" in the comment box to sign up: https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/ddpfeedback/

The March 28, 2022 Commercial Paper release and data are now available. The data are available at: https://www.federalreserve.gov/releases/cp/

On September 30, 2021, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from November 2020 to September 2021 and include year-end outstanding and maturity distribution of outstanding commercial paper.

The September 20, 2021 Commercial Paper release and data are now available. The data are available at: https://www.federalreserve.gov/releases/cp/

The Commercial Paper release for Monday, September 20, is delayed and will be updated as soon as possible.

The September 13 and 14, 2021 Commercial Paper release and data are now available. The data are available at: https://www.federalreserve.gov/releases/cp/

The Commercial Paper release for Tuesday, September 14, is delayed and will be updated as soon as possible.

The Commercial Paper release for Monday, September 13, is delayed and will be updated as soon as possible.

Commercial Paper (CP) Data Download Program Updated

The April 2021 Commercial Paper outstanding data are now available in the Data Download Program (DDP).

The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

Today's Commercial Paper release includes data from the Thursday, January 21 release that was not published due to technical issues.

The Commercial Paper release for Thursday, January 21, is delayed and will be updated as soon as possible.

The September 3 and 4, 2020 Commercial Paper release and data are now available. The data are available at: https://www.federalreserve.gov/releases/cp/

The Commercial Paper release for Friday, September 4, is delayed and will be updated as soon as possible.

The Commercial Paper release for Thursday, September 3, is delayed and will be updated as soon as possible.

The July 6, 2020 Commercial Paper release and data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

The Commercial Paper release for Monday, July 6, is delayed and will be updated as soon as possible.

On June 25, 2020, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from July 2019 to June 2020 and include year-end outstanding and maturity distribution of outstanding commercial paper.

The June 22, 2020 Commercial Paper release and data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

The Commercial Paper release for Monday, June 22, is delayed and will be updated as soon as possible.

Effective on June 5, the publication time of the daily Commercial Paper release will change from its current time, 9:45 a.m., to 1:00 p.m.

The May 12, 2020 Commercial Paper release and data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

The Commercial Paper release for Tuesday, May 12, is delayed and will be updated as soon as possible.

Starting tomorrow, May 8, we will eliminate a filter used to limit the effects of outliers on our estimated commercial paper rates. While potentially useful in typical market conditions, the filter applied in current market conditions leads to reported missing values for some rates that we would otherwise be able to estimate.

The April 17, 2020 Commercial Paper release and data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

Due to technical issues, the Commercial Paper release for Friday, April 17, is delayed and will be updated as soon as possible.

On February 3, 2020, The January 2020 monthly outstanding Commercial Paper data were missing from the seasonally adjusted and not seasonally adjusted tables on the outstanding page. The release has been updated with the missing data.

The December 12, 2019 Commercial Paper data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

On May 9, 2019, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from March 2018 to May 2019 and include year-end outstanding and maturity distribution of outstanding commercial paper.

The April 19, 2019 Commercial Paper data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

The February 19, 2019 Commercial Paper data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

The daily and weekly releases will be published on the first business day that Federal Reserve Board offices in the Washington, D.C. area reopen.

On February 4, 2019, the monthly averages for AA financial commercial paper were erroneously posted as n.a. on the Commercial Paper rates page. The information has been corrected.

The daily and weekly releases will be published on the first business day that Federal Reserve Board offices in the Washington, D.C. area reopen.

Due to technical issues, the Commercial Paper release for Tuesday, September 5, is delayed and will be updated as soon as possible.

Today's Commercial Paper release includes data from the Monday, July 2 release that was not published due to technical issues.

Due to technical issues, the Commercial Paper release for Monday, July 2, is delayed and will be updated as soon as possible.

The Federal Open Market Committee will meet as planned. The FOMC statement will be released as scheduled at 2 p.m. EDT, and the Chairman's news conference will start at 2:30 p.m. EDT.

The Federal Reserve Board plans to issue the following releases as scheduled:

Selected Interest Rates - H.15

All other previously scheduled releases for Wednesday, March 21 will be postponed until the next business day government offices are open.

On March 8, 2018, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels, issuance volumes statistics, and rates, based on updated issuer information. The revisions affect volume statistics, rates, as well as weekly and monthly outstanding data from September 2017 to March 2018 and include year-end outstanding and maturity distribution of outstanding commercial paper.

Due to inclement weather, federal offices in Washington, D.C. are closed on Friday March 2nd. The daily release of Commercial Paper will be published on the first business day that federal offices in the Washington, D.C. area reopen

On September 15, 2017, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from April 2017 to September 2017 and include year-end outstanding and maturity distribution of outstanding commercial paper.

The commercial paper release for Thursday, April 6, is delayed and will be updated as soon as possible.

On April 4, 2017, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from February 2016 to March 2017 and include year-end outstanding and maturity distribution of outstanding commercial paper.

On May 9, 2016, the weekly totals for outstanding commercial paper as of May 6, 2016 on the Commercial Paper Maturity Distribution page were erroneously posted as 0. The information has been corrected in the Commercial Paper release.

On March 29, 2016, the Commercial Paper Data Download Program was updated to include data from March 25, 2016.

On February 24th, 2016, the Commercial Paper Rates and Volume Statistics pages were updated to include revisions to certain rate and volume issuance categories between the dates of February 5th, 2016 to February 22nd, 2016. The changes have also been made to DDP.

On January 28, 2016, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from April 2014 to January 2016 and include year-end outstanding and maturity distribution of outstanding commercial paper.

Due to inclement weather, federal offices in Washington, D.C. are closed on January 26, 2016. The daily release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C. area reopen.

Due to inclement weather, federal offices in Washington, D.C. are closed on January 25, 2016. The daily release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C. area reopen.

On December 21, 2015, the 7-day AA Financial rate for December 18, 2015 was erroneously posted as 0.31. The posting should have indicated that this information is not available. The Commercial Paper release and DDP database have been updated to reflect the correction.

On July 7, 2015, the annual, monthly, and weekly average rows on the Commercial Paper Volume Statistics page were erroneously posted as "0". The information has been corrected in the Commercial Paper release.

On May 4, 2015, the Commercial Paper Volume Statistics page was updated to include data from May 1, 2015. The information has been corrected in the Commercial Paper release and the DDP database.

Due to inclement weather, federal offices in Washington, D.C., are closed on Thursday, March 5, 2015. The daily release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C. area reopen.

On March 3, 2015, the Commercial Paper Volume Statistics page was updated to include data from March 2, 2015. The information has been corrected in the Commercial Paper release and the DDP database.

Due to inclement weather, federal offices in Washington, D.C. are closed on Tuesday, February 17, 2015. The daily release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C. area reopen.

On January 16, 2015, the Commercial Paper Volume Statistics page was updated erroneously for A2/P2 nonfinancial issuance on January 15, 2015. The information has been corrected in the Commercial Paper release and the DDP database.

The daily and weekly statistical releases scheduled for Thursday, December 25 and Friday, December 26 will be published on Monday, December 29, 2014, because the federal government is closed.

On December 11, 2014, the directly-placed outstanding for December 10, 2014, on the Outstanding page were posted erroneously. The directly-placed outstanding category for December 10, 2014, is now correct in both the Commercial Paper release and the DDP database.

The October 21, 2014, Commercial Paper data are now available in the Data Download Program (DDP). The data are available at: http://www.federalreserve.gov/datadownload/Choose.aspx?rel=CP

Due to technical difficulties, the Data Download Program (DDP) for Commercial Paper is not available. A notice will be posted as soon as the DDP is available.

Due to technical difficulties, historical data (1998 to 2000) were temporarily omitted from the Data Download Program (DDP) for Commercial Paper. All historical data are now available for download.

On May 7, 2014, the 30-day AA Financial rate for May 6, 2014 was posted as n.a.. The correct rate is 0.08. The Commercial Paper release and DDP database have been updated with the correction.

On April 28, 2014, the rates for AA Financial for April 25, 2014 were erroneously posted as n.a.. AA Financial rates for April 25, 2014 are now corrected in both the Commercial Paper release and the DDP database.

The April 11th row for the last table on the Maturity Distribution page was not updated with the revised average maturity for outstanding commercial paper from the revisions posted on April 16, 2014. The April 11th row now reflects the correct numbers based on the adjustments made to issuer information on April 16, 2014.

On April 16, 2014, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from September 2013 to April 2014 and include year-end outstanding and maturity distribution of outstanding commercial paper.

Due to inclement weather, federal offices in Washington, D.C., are closed on Monday, March 17, 2014. The daily and monthly release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C., area reopen.

On March 13, 2014, the 90-day A2-P2 Nonfinancial rate for March 12, 2014, was erroneously posted as n.a. The correct rate is 0.34. After discovering the error, the Commercial Paper release was updated with the correct rate, as was the DDP database.

Due to inclement weather, federal offices in Washington, D.C., are closed on Monday, March 3, 2014. The daily and monthly release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C., area reopen.

Due to inclement weather, federal offices in Washington, D.C., are closed on Thursday, February 13, 2014. The daily release of the Commercial Paper will be published on the first business day that federal offices in the Washington, D.C., area reopen.

Due to inclement weather, the Federal Reserve Board is closed on Tuesday, January, 21 2014. The Commercial Paper Release scheduled for today will not be published. The updates will be published tomorrow unless otherwise announced.

The Commercial Paper Release of weekly series will not be published today.

Updates will occur tomorrow unless otherwise announced.

http://www.federalreserve.gov/releases/cp/

Due to inclement weather, the Federal Reserve Board is closed on Tuesday, December 10, 2013. The Commercial Paper Release scheduled for today will not be published. The updates will be published tomorrow unless otherwise announced.

On December 6, 2013, the Commercial Paper release included Maturity Distribution of Commercial Paper Outstanding as of Thursday, December 5, 2013. Going forward, the Federal Reserve will continue to release updates of these series only on Mondays reflecting data as of the previous Friday.

On August 22, 2013, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from September 2012 to August 2013 and include year-end outstanding and maturity distribution of outstanding commercial paper.

On February 15, the 90-day AA financial rate for February 14 was erroneously posted as 0.06. The correct rate is 0.34. After discovering the error, the Commercial Paper release was updated with the correct rate, as was the DDP database.

Today's update of the Commercial Paper release included incorrect weekly totals for maturing outstanding commercial paper as of March 29, 2013. Those incorrect weekly numbers have been corrected, and the release has been updated with the correct values.

Due to severe weather, federal offices in the Washington, D.C., area are closed on Wednesday, March 6, 2013. The Board's Commercial Paper Statistical Release for Wednesday will be published on the first business day that federal offices in the Washington, D.C., area reopen.

The Federal Reserve will be closed on Monday, December 24. The commercial paper release will not be updated on that day. The daily rates and volume statistics for Friday, December 21 and Monday, December 24 will be available on Wednesday, December 26.

Additional information added to the Rate Calculations section of the About page of the Commercial Paper release. The information clarifies the exclusion of municipal CP in the release.

Due to expected severe weather, federal offices in the Washington, D.C., area, are closed to the public on Tuesday, October 30, 2012. The Board's daily and weekly statistical releases scheduled for Tuesday will be published on the first business day that federal offices in the Washington, D.C., area reopen.

Due to expected severe weather, federal offices in the Washington, D.C., area, are closed to the public on Monday, October 29, 2012. The Board's daily and weekly statistical releases scheduled for Monday will be published on the first business day that federal offices in the Washington, D.C., area reopen.

Today's update of the Commercial Paper release included incorrect weekly outstanding levels for the week of July 4 and changes for the weeks of July 4 and July 11. Those incorrect levels and changes have been corrected, and the release has been updated with the correct values.

The commercial paper release for Friday, July 27, will not be updated at the regular time of 9:45 A.M. EDT. At this point, there is no estimated time as to when the release will be updated today. We apologize for any inconvenience, and will update the release as soon as possible.

On July 5, 2012, the Federal Reserve Board released data on commercial paper rates and volumes at approximately 9:45 a.m., and updated data on commercial paper outstanding was released at approximately 12:00 p.m.

On April 12, 2012, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from September 2011 to March 2012 and include year-end outstanding and maturity distribution of outstanding commercial paper.

Users can now view plotted data as column charts, and add U.S. recession shading, while using the "View chart" function of the Data Download Program (DDP).

On August 11, 2011, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from October 2010 to August 2011 and include year-end outstanding and maturity distribution of outstanding commercial paper.

On July 20, the 7-day AA financial rate for July 19 was erroneously posted as 0.70. The correct rate is 0.07. After noticing the error, the Commercial Paper release was updated with the correct rate, as was the DDP database. We apologize for any inconvenience this may have caused.

Additional information about the calculation of tier level outstanding has been added to the Outstanding Calculations section of the About page of the commercial paper release. This information is listed under the SEC 2a-7 (tier levels) heading.

On January 27, 2011, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from June 2009 to January 2011 and include year-end outstanding and maturity distribution of outstanding commercial paper.

The Federal Reserve Board will be closed on the dates below. The commercial paper release and data will not be updated on these dates.

January 17
February 21
May 30
July 4
September 5
October 10
November 11
November 24
December 26

Users will now be able to create and view interactive graphics of data packages from the program before downloading the underlying data and charts. The charting feature allows users to view multiple data series on a single chart as well as to display individual data points. The charts can be saved as PDFs or in a standard image file format (PNG) for publication and redistribution.

"Graphics play an important role in identifying data trends and relationships," said Federal Reserve Vice Chair Janet L. Yellen. "With the help of this intuitive new user interface, it's now possible to create customized charts directly from Federal Reserve statistical data."

Due to inclement weather, the Federal Reserve Board is closed on Tuesday, February 9, 2010. The Commercial Paper Release scheduled for today will not be published. The updates will be published on the next business day that Federal Reserve Board is open unless otherwise announced.

Due to inclement weather, the Federal Reserve Board is closed on Monday, February 8, 2010. The Commercial Paper Release scheduled for today will not be published. The updates will be published tomorrow unless otherwise announced.

The Federal Reserve will be closed on Monday, December 21. The commercial paper release will not be updated on that day. The daily rates and volume statistics for Friday, December 18 and Monday, December 21 will be available on Tuesday, December 22.

Due to light market activity, there was not sufficient issuance data to publish commercial paper rates for July 3, 2009.

On May 14, 2009, the Federal Reserve Board released revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from January 2001 to May 2009 and include year-end outstandings and maturity distribution of outstanding commercial paper.

The Federal Reserve Board will be closed on Friday, December 26. Commercial paper data will not be updated on that day. The weekly outstandings and the daily rates and volume statistics for Wednesday, December 24 and Friday, December 26 will be available on Monday, December 29.

The Federal Reserve Board will be closed on the dates below. The commercial paper release and data will not be updated on these dates.

January 1
January 19
January 20
February 16
May 25
July 3
September 7
October 12
November 11
November 26
December 25

Financial paper that is insured by the FDIC's Temporary Liquidity Guarantee Program is not excluded from relevant indexes, nor is any financial, nonfinancial, or asset-backed commercial paper that may be directly or indirectly affected by one or more of the Federal Reserve's liquidity facilities. Thus the rates published after September 19, 2008, likely reflect the direct or indirect effects of the new temporary programs and, accordingly, likely are not comparable for some purposes to rates published prior to that period.

Through November 4, the documentation on the "About" page of this release indicated that paper issued under "credit-enhanced programs" was excluded from the samples of issues used to calculate reported rates. This wording was intended to convey that asset-backed commercial paper was excluded from the calculation of financial rates. Indeed, consistent with that intent, the Federal Reserve has, since 2006, published a separate rate series for asset-backed commercial paper. To avoid confusion, the reference to "credit-enhanced programs" will be dropped.

On May 29, 2008, the Federal Reserve Board will release revisions to the values of seasonally adjusted and not seasonally adjusted commercial paper outstanding levels based on updated issuer information. The revisions affect weekly and monthly outstanding data from January 2001 to May 2008 as well as year-end values and maturity distribution of outstanding commercial paper.

The Federal Reserve Board will be closed on Monday, December 24. Commercial paper data will not be updated on that day. The data for Friday, December 21 and Monday, December 24 will be available on Wednesday, December 26.

The commercial paper rates and volume statistics for November 15, which are derived from source data provided by the Depository Trust & Clearing Corporation (DTCC), have been reissued to reflect corrected source data.

On June 18, 2007, the Federal Reserve Board stopped using Fitch Investors Service as a credit rating source. Classification as AA or A2/P2 for rate calculations and classification as Tier-1 or Tier-2 for outstanding calculations are done using Moody's Investors Service and Standard & Poor's.

The Federal Reserve Board announces that selected series from its Commercial Paper release will now be available via RSS. These feeds will provide quick access to a single observation for the selected series, daily for commercial paper rates and weekly for the commercial paper outstanding measures. To subscribe, please visit the RSS feeds page. All RSS feeds from the Federal Reserve Board adhere to the RSS-CB standard.

The Federal Reserve Board ceased publication of commercial paper LOC outstanding (outstanding backed by letter of credit) on January 3, 2007. The history of LOC outstanding, from January 2001 to December 2006, is available through the Data Download Program, but is no longer included in the preformatted data packages.

The Federal Reserve Board will be closed on the dates below. The commercial paper release and data will not be updated on these dates.

January 1
January 15
February 19
May 28
July 4
September 3
October 8
November 12
November 22
December 25

The Federal Reserve Board's Data Download Program (DDP) now provides RSS feeds for users. Subscribers are notified about any updates or changes to the available data.The announcements will also be available on the DDP website. To subscribe to a feed, please visit the main RSS feeds page.

On October 19, 2006, the Federal Reserve Board made minor revisions based on updated issuer information to the values of Tier 1 and Tier 2 commercial paper outstanding, affecting weekly data from July 19, 2006 to October 12, 2006 and monthly data from July 2006 to September 2006.

On April 10, 2006, the Federal Reserve Board made major changes to its commercial paper outstanding calculations. New outstanding categories were added, some existing category definitions were modified, and current and historical commercial paper issuer information was updated. For more information, please view the about section of the commercial paper release.

The Federal Reserve Board will be closed on the dates below. The commercial paper release and data will not be updated on these dates.

January 2
January 16
February 20
May 29
July 4
September 4
October 9
November 10
November 23
December 25