Monthly review for commercial paper and medium-term note market - March 2024

Published on 16th of April 2024

Total outstanding on the NEU CP and NEU MTN market stood at €367.1 bn in March 2024 (+€37.7 bn year-on-year). This increase is essentially related to the dynamics of the NEU CP segment (+€37.7 bn year-on-year). NEU CP financial issuers in particular saw their outstanding rise sharply (+€38.5 bn year-on-year), while outstanding of non-financial entities (corporates) fell slightly by €0.8 bn to €56.3 bn. Outstanding in the NEU MTN segment rose by €0.8 bn year-on-year (+2%) to €40.2 bn.
NEU CP issues by the financial sector (including ABCP issuers) rose to €107.6 bn in January 2024 from €106.7 bn the previous month. Issues by the non-financial sector (corporates) came to €26.4 bn, compared with €21.2 bn in February 2024. Public-sector issues came to €12.5 bn, compared with €10.9 bn in February 2024.
For both financial and non-financial issuers, the term structures of issuing yields are generally stable from month to month, with a downward slope.

Updated on the 25th of July 2024