Monthly review for commercial paper and medium-term note market - May 2021et moyen terme - Mai 2021

Published on the 20th of June 2021

In May, the outstanding amount of the overall market amounted to € 309.6 billion, with NEU CP roll rate at 97%. However, outstanding amount fell sharply over the year (-14.5%), with public and corporate issuers returning to pre-crisis levels.
Financial sector issuance rates are little changed, the maximum variation over one month reaching 2 bps on the 1 and 9 months pillars. Corporate rates are unchanged for the 1 month maturity and on a slight growth for the 3 months (+3 bps). Rates for other maturities are almost unchanged, except for the 9-month pillar (-9 bps).
Corporates NEU MTN issuances reached € 840 million at the end of May 2021. Issuance rates for all type of issuers are around 0% on the 2-year pillar and just above 0.5% on the 5-year pillar.

Updated on the 25th of July 2024

Banque de France - Menu Principal