By the end of 2009, more than 1700 companies had published commercial paper in the United States. As at 31 October 2008, the United States Federal Reserve reported seasonally adjusted figures for the end of 2007: $1.7807 billion of commercial paper was being stopped; $801.3 billion was “backed assets” and $979.4 billion was not; Of this amount, $162.7 billion was spent by non-financial corporations and $816.7 billion by financial corporations.  In the global financial market, commercial paper is an unsecured debt instrument with a term rarely longer than 270 days. An agreement that governs the conditions under which a trader may acquire part of a security as a principal obligation. For use with both registered SEC offers and exempt offers, with the exception of offers of securities of communal value. Since it is not guaranteed by guarantees, only companies that have excellent credit ratings from a recognized rating agency can sell their commercial paper at a reasonable price. Commercial paper is usually sold at a nominal discount and usually has lower interest repayment rates than bonds due to the shorter term of commercial paper. The longer the duration of a note, the higher the interest rate paid by the issuing institution. Interest rates fluctuate with market conditions, but are generally lower than bank interest rates….