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Markets · October 31, 2026 · 2 min read

Commercial paper outstanding slips to $1.499 trillion in October 28 data

By Econ Data Tools Editorial Team

Published October 31, 2026 • Updated October 31, 2026

Federal Reserve data show a small weekly decline in outstanding balances. Financial and asset-backed balances rose while nonfinancial paper fell.

The Federal Reserve commercial-paper release posted October 30 puts seasonally adjusted outstanding balances at $1,499.0 billion for Wednesday, October 28, down from $1,502.6 billion a week earlier. The decline is $3.6 billion using the release’s rounded figures. These are outstanding balances, not the value of new borrowing during the week. Nonfinancial commercial paper fell to $371.1 billion from $380.5 billion. Financial paper rose to $621.2 billion from $617.7 billion, and asset-backed paper increased to $506.7 billion from $504.4 billion. The categories moved in different directions rather than showing uniform expansion. FRED’s COMPOUT series gives the unrounded seasonally adjusted total as $1,498.95352 billion for October 28, compared with $1,502.56702 billion on October 21. FRED identifies the series as weekly, ending Wednesday, and shows an October 29 update. That series update and the Fed summary page’s October 30 posting are different publication timestamps. The same Fed summary lists a not-seasonally-adjusted total of $1,443.6 billion for October 28, down from $1,447.7 billion. Seasonal adjustment changes the comparison basis. The adjusted and unadjusted levels should not be combined or presented as contradictory estimates of one identically defined series. For October 29, the Fed lists the 30-day AA nonfinancial commercial-paper rate at 3.95% and the 30-day A2/P2 nonfinancial rate at 4.17%. These daily rate observations have a different date from the weekly outstanding balances. The Fed notes that insufficient trade data can prevent calculation of particular rates. The Fed describes commercial paper as short-term promissory notes issued primarily by corporations, with maturities up to 270 days. These balances and rates do not establish why individual companies borrowed, whether they postponed long-term issuance or whether all borrowers could refinance without difficulty. Those explanations require evidence beyond this statistical release.

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