Statistics

Monthly review for commercial paper and medium-term note market - October 2023

Published on 16 November 2023
  • Total outstanding on the NEU CP and NEU MTN market stood at €332.9 bn in October 2023 (+€32 bn year-on-year). This increase is attributable to the NEU CP segment (+€27.7 bn year-on-year). In this segment, financial issuers in particular saw their outstanding rise sharply (+€48.6 bn year-on-year), while outstanding of non-financial entities (corporates) fell by €5.4 bn to €60 bn. Outstanding in the NEU MTN segment rose slightly by €4.3 bn year-on-year (+11%) to €43.6 bn.
     
  • NEU CP issues by the financial sector were down in October 2023, mainly on maturities from 101 to 365 days, at €86.2 bn versus €100.6 bn the previous month. Issuance by non-financial entities rose to €29.3 bn in October 2023 from €25.3 bn in September 2023, the change being concentrated on maturities from 41 to 100 days. Finally, public-sector issues also recorded an increase to €9.6 bn in October 2023 from €6.7 bn in September 2023.
     
  • Issue yields continue to rise. For financial issuers, the highest rises are in the 1-day and 3-month pillars. For non-financial issuers, the most significant increase is seen in the 9-month pillar.