CUSIP ID Requests Forecast Increased Activity in US Corporate Debt Issuance

NEW YORK, Dec. 8, 2011 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for November 2011.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests a rebound in US corporate debt issuance over the next 30-90 days.

In the US, domestic corporate CUSIP requests climbed to their second highest monthly volume of 2011 as 1923 requests for identifiers were sought. This represents an increase of 6.6% year-over-year when compared with 2010's figures. Meanwhile, certificate of deposit identifier requests for intermediate maturities have decreased (-12.3%) year-over-year, while those for short-term maturities remain unchanged. 

Municipal debt CUSIP requests reached a 2011 monthly high with 1449 identifiers sought. While that result represents the best monthly volume since November 2010, year-to-date volume remains down by more than (-23%) from 2010. Long-term notes retreated further in November leaving year-over-year volume down (-50%) from 2010 figures with only 363 identifier requests made so far this year.  Short term notes remained steady.

International equity CUSIP volume bounced back in November with 315 identifier requests compared to October's figures. Year-over-year, international equity CUSIP requests are down (-6.4%)  Meanwhile, international debt CUSIPs increased by nearly one-third in November with year-over-year figures up 5.7% from 2010 figures.

"As 2011 comes to a close, the recent upswing in activity across the asset classes is a harbinger of an active first quarter for capital markets in 2012." said Richard Peterson, Director, S&P Capital IQ.   "Heightened volatility across world markets will certainly weigh heavily on new security issuance over the next several weeks, but the CUSIP tea leaves are currently suggesting a busy December and January."

To view a video commentary of this month's CUSIP issuance trends with Richard Peterson, please click here.

Following is a breakdown of new CUSIP identifier requests by asset class year-to-date through November 2011:

The CUSIP Global Services trends report is issued to the marketplace on a monthly basis.   For more information, please visit www.cusip.com. 

About CUSIP Global Services
For 40 years CUSIP Global Services has provided a unique common language for identifying financial instruments across institutions, exchanges and nations, enabling financial services firms to benefit from improved operating efficiencies and substantially reduced administrative costs. CUSIP Global Services is operated by the CUSIP Service Bureau (CSB). CSB is managed on behalf of the American Bankers Association by Standard & Poor's. For more information, visit www.cusip.com.

About The American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees.  Learn more at www.aba.com.

(1) "International" Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. debt offerings

(2) "International" Equity refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. equity offerings

SOURCE CUSIP Global Service (CGS)