CUSIP ID Requests Project Steady Pace for US Corporate and Muni Debt Issuance in Q1

NEW YORK, Feb. 9, 2012 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for January 2012.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests a continuation of current volume trends in US corporate and municipal debt issuance over the next 30-90 days.

With 1501 identifier requests made in January, domestic corporate CUSIPS started the year with an increase of 4.3% over January 2011 numbers. Although the count is up on a year-over-year basis, it is also the lowest monthly count since January 2011. While longer term CDs saw a rise in CUSIP requests from December 2011's results, both that security class and shorter maturity CDs began 2012 with double digit percentage declines from 2011 with intermediate maturity CDs down (-24.7%) and short term down (-33.4%.)

Municipal CUSIP requests kicked off 2012 strongly with 938 new identifiers sought. This represented a 39.8% increase from 2011 figures, but a monthly decline from December's total of 1,261 requests. Short term notes increased 25% in January 2012 compared with 2011 figures while long-term notes declined (-51.9%) from year ago levels with only 13 identifier requests made.

With 206 international equity and 99 international debt CUSIP identifier requests made in January, volume increased incrementally in comparison to December 2011 figures. However when compared to January 2011 numbers both asset classes experienced double digit percentage declines with international equity down (-19.5%) and international debt down (-41.1%.) 

"This month's CUSIP issuance trends foreshadow a continuation of many of the macroeconomic trends we're currently seeing play out in the markets," said Richard Peterson, Director, Global Markets Intelligence, S&P Capital IQ.  "Corporations are continuing to take advantage of a favorable interest rate environment to issue new debt, while municipalities are tip-toeing further into the capital markets.  Internationally, it's no surprise that capital markets are mirroring the anxiety of the European debt crisis."

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 January 2012:

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

For More Information:
Michael Privitera
Vice President, Public Affairs
Standard & Poor's
(212) 438-6679
[email protected]

SOURCE CUSIP Global Services