Q1 CUSIP Demand Surges, Foreshadows Continued Increases in US and International Corporate Debt Issuance

NEW YORK, April 13, 2011 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for March 2011.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests strong, continued growth in US and international corporate debt issuance over the next 30-90 days, and mixed-signals from the municipal bond market.  

In the US, 1772 domestic corporate CUSIP requests were made in March, a 13.8% year-over-year increase. March 2011 saw the highest monthly demand for domestic corporate CUSIP IDs since March 2010 when 1915 CUSIPs were sought. Overall US corporate identifier requests for the first quarter of 2011 saw a nearly 14% advance from the first quarter of 2010. Certificate of deposit (CD) identifier requests for shorter maturities increased 27.5%, while those for intermediate maturities declined (-00.5%) year-over-year.

Both international debt and equity CUSIP activity remained robust in March with international equity CUSIP requests totaling 432, the highest level since February 2008 when 435 identifiers were requested, and international debt CUSIP orders are up 50.3% in the first three months of 2011 compared with 2010.

Municipal CUSIP requests advanced more than 30% on a month-over-month basis from February 2011 levels, with 1020 requests made in March. Although this is the sharpest monthly advance since May 2010, 1Q 2011 volume for muni CUSIPs stands at nearly -23.1% below 1Q 2010 totals.

"This past month, we saw a rebound in several asset categories including strong demand for corporate debt identifiers in the US and abroad," said Richard Peterson, Director, S&P Valuation and Risk Strategies.  "Likewise, after two months of declining activity, muni volumes have picked up in the month of March.  Though muni totals for the first quarter are still lagging last year, it is encouraging to see renewed activity on a month-over-month basis."

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 March 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.

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

SOURCE CUSIP Global Services