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Commercial Paper Jumps $20 Bln

Rise in latest week led by issuance by foreign financial firms.

By John Parry, Bloomberg | Updated on July 26, 2012

The market for corporate borrowing through commercial paper expanded by the most in more than two months, led by an increase in issuance by foreign financial institutions, even as Europe’s fiscal turmoil spreads.

The seasonally adjusted amount of U.S. commercial paper climbed $20.1 billion to $1.003 trillion outstanding in the week ended yesterday, the third consecutive rise, the Federal Reserve said today on its website. It’s the biggest advance since a $27.2 billion increase for the period ended May 16 and the highest level since the week ended June 27.

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