15-Day AA Nonfinancial Commercial Paper Interest Rate
RIFSPPNAAD15NB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.29
Year-over-Year Change
-0.46%
Date Range
10/6/2021 - 8/5/2025
Summary
The 15-Day AA Nonfinancial Commercial Paper Interest Rate tracks the average interest rates for short-term, unsecured debt instruments issued by high-quality nonfinancial corporations. This metric provides critical insights into corporate borrowing costs and overall credit market conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Commercial paper represents an important short-term financing mechanism for corporations, typically with maturities ranging from 1 to 270 days. The AA rating indicates a high-quality credit rating, reflecting lower default risk and more favorable lending terms.
Methodology
The rate is calculated by aggregating interest rates from multiple high-quality nonfinancial corporate issuers over a 15-day period, weighted by the volume of commercial paper issued.
Historical Context
Economists and investors use this rate to assess corporate credit conditions and potential shifts in short-term lending markets. It serves as a key indicator of corporate financial health and broader economic liquidity.
Key Facts
- Represents interest rates for high-quality, short-term corporate debt
- Provides insights into corporate borrowing conditions
- Reflects credit market liquidity and risk perception
- Used by investors and economists to assess economic health
FAQs
Q: What does an AA rating mean for commercial paper?
A: An AA rating indicates high credit quality with very low default risk, suggesting the issuing corporation has strong financial stability and creditworthiness.
Q: How often is this rate updated?
A: The 15-day commercial paper rate is typically updated regularly to reflect current market conditions and corporate borrowing trends.
Q: Why do investors track commercial paper rates?
A: Investors monitor these rates to understand corporate financial health, assess potential investment risks, and gauge overall economic liquidity.
Q: How do commercial paper rates impact businesses?
A: Lower rates mean cheaper borrowing costs for corporations, potentially encouraging investment and expansion, while higher rates can signal increased financial constraints.
Q: Can individual investors access commercial paper?
A: Most commercial paper is traded by institutional investors, but individuals can indirectly invest through money market funds that hold these instruments.
Related Trends
90-Day AA Financial Commercial Paper Interest Rate
RIFSPPFAAD90NB
30-Day AA Asset-Backed Commercial Paper Interest Rate
RIFSPPAAAD30NB
90-Day AA Nonfinancial Commercial Paper Interest Rate
DCPN3M
7-Day AA Financial Commercial Paper Interest Rate
RIFSPPFAAD07NB
90-Day AA Asset-Backed Commercial Paper Interest Rate
RIFSPPAAAD90NB
Overnight AA Financial Commercial Paper Interest Rate
RIFSPPFAAD01NB
Citation
U.S. Federal Reserve, 15-Day AA Nonfinancial Commercial Paper Interest Rate [RIFSPPNAAD15NB], retrieved from FRED.
Last Checked: 8/1/2025