November 4, 2008 / 4:08 PM / in 9 years

UPDATE 1-U.S. commercial paper issuance fell again Monday

(Recasts, adds details)

NEW YORK, Nov 4 (Reuters) - The supply of U.S. commercial paper fell on Monday, as the improvement in this debt sector has been subsiding since the launch of a Federal Reserve program to buy them last week.

Daily issuance of these IOU‘s, which companies use to fund their operations, fell for third straight trading session, Federal Reserve data released on Tuesday show.

Companies sold 6,027 issues of commercial paper totaling $159.89 billion on Monday, compared with 5,837 worth $169.88 billion issued on Friday, according to the Fed.

Companies sold 591 issues of commercial paper worth $19.90 billion which matures in 81 days and beyond. This was sharply lower than 1,063 issues worth $45.43 billion on Friday.

The biggest decline in 81-day-plus CP was in the financial sector which registered no issuance on Monday, compared with 263 issues worth $11.97 billion on Friday. (Reporting by Richard Leong; Editing by Theodore d‘Afflisio)

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