CUSIP ID Requests Project Surge in Muni Debt Issuance, Recovery in International Markets

NEW YORK, March 13, 2012 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for February 2012.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests strong volume in US municipal bond issuance and a recovery in US and international corporate debt issuance over the next 30-90 days.

Municipal CUSIP requests have continued to suggest underlying strength in the municipal bond market in 2012, with orders up by almost 56% in comparison to 2011. Excluding notes and other issues, the recent results mark the first time over 2,000 municipal bond CUSIPs were sought in the first two months of the year since 2007.

International debt and equity CUSIP requests continued to show signs of recovery in early 2012, suggesting a potential easing of European debt fears.  International equity CUSIP orders in February totaled 252, the best monthly showing since November 2011, and international debt identifier orders rose to 117, the best monthly showing since June 2011.   While these totals are still down on a year-over-year basis, the month-to-month improvement is noteworthy as European debt crisis tensions begin to recede.

Domestic corporate securities saw 1,621 CUSIP requests in February, representing an increase of 8% from January's numbers. Overall, volume is up 3.6% from 2011 figures. Both short term and intermediate term CDs saw a rise in CUSIP requests from January 2012's results with short term maturities receiving 605 requests and intermediate maturities receiving 290. However, total note volume is down nearly 25% from 2011 numbers.

"International debt and equity CUSIP orders are signaling the early indications of debt market recovery in early 2012," said Richard Peterson, Director, Global Markets Intelligence, S&P Capital IQ.  "Given the downturn in the identifier orders in this asset class over the last several months coincided with European debt worries, the recent up tick may signal an easing of market anxiety."

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 February 2012:

[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

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.

SOURCE CUSIP Global Services