Monthly review for commercial paper and medium-term note market - February 2022

Published on 21 March 2022

The market outstanding amounts fell again in February 2022, by 10 billion euros, to stand at 275.6 billion euros. The fall in stocks reflects mostly the situation of financial issuers that seems to be on the lookout since the start of the year.
In line with market expectations (towards rise in the ECB reference rates), the issuances rates of financial issuers start showing some steepening in February, with an increase of 5 bps over the 6 month, 9 bps over the 9 month and 12 bps over the 12 month .
The NEU CP market remains mainly a market used by large corporates (CAC 40) while offering new possibilities to a larger number of corporates of the SBF 120 type.
Entry of Social Housing entities on the market these most recent years (stocks of €3 billion in February 2022 whereas it was close to nil four years earlier).

Updated on 24 October 2023