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 January 27, 2025Posted January 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
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* 3,446 2,165 844 137 163 126 12 111 68 26 5 7 5 0
Monthly average
2024-Aug. 4,139 2,414 983 274 309 56 103 144 84 27 12 12 3 6
Sept. 4,349 2,490 1,011 274 223 256 94 164 91 32 12 10 13 5
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.* 3,446 2,165 844 137 163 126 12 111 68 26 5 7 5 0
Weekly (Friday) average
Jan. 3 1,822 471 1,270 5 44 31 0 56 16 36 0 2 1 0
Jan. 10 4,058 3,569 3 80 243 130 33 122 106 0 2 8 5 1
Jan. 17 2,475 916 899 269 200 183 7 86 29 28 11 10 7 0
Jan. 24 3,645 2,133 1,188 126 95 103 0 118 65 39 5 4 5 0
Jan. 31* 5,427 5,346 0 50 0 31 0 212 209 0 1 0 2 0
Daily
Jan. 21 6,679 5,626 635 0 105 313 0 199 159 24 0 3 13 0
Jan. 22 1,345 119 765 226 135 100 0 59 3 34 10 6 6 0
Jan. 23 1,184 700 350 134 0 0 0 50 28 18 4 0 0 0
Jan. 24 5,371 2,086 3,000 145 140 0 0 162 71 79 7 5 0 0
Jan. 27 5,427 5,346 0 50 0 31 0 212 209 0 1 0 2 0
* Data through January 27.
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
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* 10,316 6,488 1,451 992 957 401 26 674 375 94 76 84 44 2
Monthly average
2024-Aug. 8,858 6,069 1,159 512 632 301 185 603 395 80 40 55 28 6
Sept. 9,818 7,259 1,040 557 662 269 32 626 424 74 48 52 24 3
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.* 10,316 6,488 1,451 992 957 401 26 674 375 94 76 84 44 2
Weekly (Friday) average
Jan. 3 7,570 5,031 934 536 960 110 0 460 294 64 32 64 6 0
Jan. 10 9,243 5,666 1,548 723 952 346 10 623 333 98 58 89 44 1
Jan. 17 10,857 6,762 1,664 1,045 716 653 18 725 391 111 81 67 74 2
Jan. 24 11,577 7,625 1,457 1,265 884 270 76 722 425 89 103 77 24 4
Jan. 31* 10,735 7,249 716 1,239 1,136 394 0 759 451 56 88 129 35 0
Daily
Jan. 21 11,500 8,252 1,383 759 597 444 65 686 461 87 57 40 36 5
Jan. 22 11,463 7,397 1,212 1,676 768 199 211 655 378 67 124 61 16 9
Jan. 23 11,857 7,470 1,452 1,258 1,415 231 30 750 424 84 116 97 27 2
Jan. 24 11,490 7,379 1,782 1,368 754 207 0 796 436 117 114 111 18 0
Jan. 27 10,735 7,249 716 1,239 1,136 394 0 759 451 56 88 129 35 0
* Data through January 27.
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
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* 3,496 2,907 374 100 39 9 67 89 72 9 2 1 0 3
Monthly average
2024-Aug. 3,781 3,536 179 15 24 2 26 95 87 5 0 1 0 1
Sept. 5,852 5,733 45 33 4 15 21 135 132 2 1 0 0 1
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.* 3,496 2,907 374 100 39 9 67 89 72 9 2 1 0 3
Weekly (Friday) average
Jan. 3 2,884 2,652 65 0 126 2 38 80 72 2 0 4 0 1
Jan. 10 4,226 3,245 635 230 20 10 86 108 83 15 5 0 0 4
Jan. 17 3,139 2,916 135 30 0 15 43 81 73 4 1 0 1 4
Jan. 24 3,068 2,308 561 100 12 0 87 73 53 14 2 0 0 4
Jan. 31* 2,523 2,495 0 0 0 28 0 60 59 0 0 0 1 0
Daily
Jan. 21 3,440 2,195 1,000 0 50 0 195 83 50 23 0 1 0 9
Jan. 22 2,846 2,345 100 400 0 0 2 66 53 3 9 0 0 1
Jan. 23 2,572 2,345 75 0 0 0 152 61 54 2 0 0 0 5
Jan. 24 3,415 2,345 1,070 0 0 0 0 81 55 26 0 0 0 0
Jan. 27 2,523 2,495 0 0 0 28 0 60 59 0 0 0 1 0
* Data through January 27.
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
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* 20,659 14,094 3,632 428 572 380 1,553 601 406 96 12 20 12 55
Monthly average
2024-Aug. 24,280 17,642 3,584 523 847 559 1,125 707 504 98 15 32 18 41
Sept. 25,282 18,078 3,629 612 774 712 1,477 758 527 102 18 30 24 57
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.* 20,659 14,094 3,632 428 572 380 1,553 601 406 96 12 20 12 55
Weekly (Friday) average
Jan. 3 18,819 11,831 3,917 739 413 522 1,398 566 366 103 19 15 14 50
Jan. 10 20,742 14,132 3,432 214 928 332 1,705 613 412 91 6 29 11 64
Jan. 17 20,985 14,546 3,644 364 425 277 1,728 608 417 99 13 16 10 53
Jan. 24 21,592 14,678 4,339 448 444 378 1,305 610 410 113 13 16 12 47
Jan. 31* 15,210 12,388 752 300 404 321 1,044 443 341 26 7 16 8 45
Daily
Jan. 21 26,213 16,095 7,571 518 561 420 1,048 738 455 193 12 20 14 44
Jan. 22 18,554 13,840 2,857 120 474 46 1,217 527 384 69 4 17 4 49
Jan. 23 19,954 14,745 3,024 528 349 259 1,048 570 414 83 14 15 9 35
Jan. 24 21,648 14,032 3,903 627 390 787 1,908 603 385 106 21 11 19 61
Jan. 27 15,210 12,388 752 300 404 321 1,044 443 341 26 7 16 8 45
* Data through January 27.
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
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* 121,921 78,234 19,344 4,153 6,610 3,763 9,817 4,546 2,605 618 245 415 216 447
Monthly average
2024-Aug. 116,939 80,070 15,839 3,998 6,497 3,093 7,442 4,358 2,706 548 220 374 163 347
Sept. 127,965 87,270 17,216 4,757 7,023 3,162 8,538 4,796 2,964 597 264 393 181 398
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.* 121,921 78,234 19,344 4,153 6,610 3,763 9,817 4,546 2,605 618 245 415 216 447
Weekly (Friday) average
Jan. 3 95,403 59,252 18,289 3,112 6,151 2,527 6,073 3,396 2,008 544 157 313 100 274
Jan. 10 120,730 76,531 18,538 3,593 7,577 3,598 10,894 4,458 2,491 592 233 458 208 474
Jan. 17 123,757 80,983 18,688 4,585 5,530 4,573 9,398 4,708 2,711 618 269 389 283 438
Jan. 24 126,998 81,282 22,321 4,022 6,422 3,200 9,751 4,768 2,756 710 246 404 191 461
Jan. 31* 105,066 79,526 5,254 3,774 5,667 2,297 8,547 4,120 2,768 222 211 354 144 421
Daily
Jan. 21 139,110 88,642 26,341 3,761 6,973 4,432 8,961 5,139 3,007 818 201 448 233 432
Jan. 22 120,719 78,205 17,879 4,765 6,738 2,903 10,229 4,599 2,583 589 307 389 205 526
Jan. 23 125,217 79,076 22,189 3,966 6,841 2,411 10,735 4,744 2,706 704 246 434 162 492
Jan. 24 122,947 79,205 22,874 3,596 5,137 3,055 9,080 4,592 2,728 731 230 344 164 395
Jan. 27 105,066 79,526 5,254 3,774 5,667 2,297 8,547 4,120 2,768 222 211 354 144 421
* Data through January 27.

Footnotes

1. Millions of dollars.

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Last Update: January 28, 2025