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

Published on 14 November 2022

The total amount outstanding on the NEU CP and NEU MTN markets stood at €297.6 bn in October 2022 after €285.6 bn in September 2022 (+4.2%). The increase in the market is mainly driven by the NEU CP segment (+11.8bn €) and due to the increase in financial issuers (+€10.6 bn). On the NEU MTN segment the outstanding amount slightly increased (+€0.2 bn) between September and October.
Financial issuers' rates continued to rise in October, mainly on the 3-month pillar (+62 bps). Issuance volumes were particularly up on the daily pillar (+€23 bn) and on the 12-month pillar (+€5.3bn).
Corporate issuance volume remains concentrated on the 1-month pillar despite a slight decrease from €17.1 bn to €15.8 bn (-7.6% month-on-month). Average rates increased all across the curve but particularly on the 3-month tenor (+55 bps).

Updated on 24 October 2023