Monthly review for commercial paper and medium-term note market - November 2021

Published on the 20th of December 2021

Outstanding amounts attained € 296 billion in November (- 1.8% over one month). Corporate (- 8.6%) and public sector (- 12%) issuers make the bulk of this decrease, while financial sector increase slightly (+ 2.6%).
The yield curve of financial issuers remains unchanged with variations that do not exceed 2 bps. Issuances increased on the 3 and 6 month pillars (+ € 5bn) and fell back on the 12 month pillar (- € 3.6bn).
The corporate yield curve flattens slightly in November, with rates easing over most of terms (-1 bps on the 3-month pillar and -4 or-5 bps on the other terms), excepted on the 12-month pillar (+2 bps).

Updated on the 25th of July 2024

Banque de France - Menu Principal