Corporate and other short-term paper outstanding (formerly F2)

View or download the latest monthly data. For metadata and background information, see the notes.

Through December 2020, the Bank is gradually phasing out the dissemination of credit aggregates and securities statistics. Learn more.

Typically published on the last Friday of the month.

Monthly Series

Month-end, Millions of dollarsCANSIM2020‑052020‑062020‑072020‑082020‑09
Corporate short-term paper
Commercial paperV12224659,60161,23360,37659,457
Of which: Issued by non-financial corporationsV1222539,57311,14910,72310,830 R12,377
Of which: Issued by securitizations1 V12225434,18235,55535,04534,825
Of which: Issued in U.S. dollarsV1222556,7627,1066,9696,703
Canadian dollar bankers' acceptancesV12224388,01285,39885,43782,402
TotalV122241147,613146,631145,813141,859
Commercial paper issued by foreign corporationsV12225900000

Notes

Source: Bank of Canada, Dominion Bond Rating Service (DBRS), Statistics Canada

Corporate and other short-term paper outstanding (formerly F2) was previously named Corporate short-term paper outstanding (F2).

Other short-term paper includes instruments with an original term of one year or less. The data do not include bills and notes placed with parent or affiliated companies. Corporate data exclude notes placed directly with chartered banks. Short-term loans from Canadian and foreign banks are not included in the statistics.

Data for total commercial paper outstanding are produced by the Dominion Bond Rating Service (DBRS) commencing in November 1993. Prior to that date, data were produced through a survey of commercial paper issuers conducted by the Bank of Canada. It is estimated that a high proportion of all paper issued in Canada is covered by the DBRS survey.

Total commercial paper commencing in November 1993 includes only issues placed in Canada by Canadian borrowers. Issues by foreign borrowers in the Canadian market are shown separately as an addendum. The data prior to November 1993 produced from the Bank of Canada survey may include some issues placed outside Canada.

For the period before November 1981, bankers’ acceptances figures refer to the amount outstanding for the last Wednesday of the month. From November 1981 to October 1993, the data are as of the last business day of each period. Since October 1993, they are a monthly average.

Short-term papers issued by consumer loan and sales finance companies and by federal government business enterprises are included in total commercial paper. Asset-backed commercial paper is included in commercial paper issued by financial corporations. Commercial paper issued by non-financial corporations is included in short-term business credit as presented in Selected credit measures (formerly E2). A breakdown between Canadian dollar and U.S. dollar commercial paper outstanding is presented commencing in November 1996 (prior to that date, sufficiently complete information was not available to estimate that split). Data from the discontinued Bank of Canada survey with respect to commercial paper denominated in foreign currency is available on CANSIM.

Total other short-term paper of provincial governments and their enterprises and municipal governments exclude the bills and notes placed in the accounts of the respective provinces and municipalities. The treasury bills and notes issued are largely payable in Canadian dollars; however, the statistics include some short-term notes payable in foreign currencies. Since November 1981, these data have included bills and paper of provincial governments and their enterprises sold directly to chartered banks.

As of December 2017, Treasury bills and other short-term paper is renamed to Other short-term paper issued by and Total treasury bills and short-term paper is renamed to Total short-term paper.

  1. 1. Beginning August 2007, excludes outstandings of approximately $28.8 billion related to affected trusts under the Montréal Proposal.[]