"Nothing to worry about!"
3-Month AA Financial Commercial Paper Rate -
3-Month AA Nonfinancial Commercial Paper Rate = 0.01
Essentially, investors are no more concerned about financial institutions paying their ST debts than they are about Nonfinancial AA Businesses paying their ST debts.
If there were any looming shock to the financial system, I would expect this to get up to or above 0.50 with regularity.
Mark