NORWALK, Conn., Sept. 08, 2022 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for August 2022. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a monthly decrease in request volume for new corporate and municipal identifiers.
North American corporate requests totaled 5,066 in August 2022, which is down 3.6% on a monthly basis. On a year-over-year basis, corporate requests were up 8.1%. August volumes were driven by a 23.7% decrease in requests for new Canadian corporate debt and equity identifiers and a 31.8% decline in request volume for medium-term notes. Short-term certificates of deposit (CDs) identifiers continued their growth streak, rising 16.1% in August. On a year-over-year CUSIP request volume for short-term CDs is up 192.7% based on much lower issuance in 2021. Also of note, U.S. corporate equity requests surged 21.2% and U.S. corporate debt requests rose 20.2% this month.
Municipal request volume also declined in August. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 2.0% versus July totals. On a year-over-year basis, overall municipal volumes were down 18.8%. Texas led state-level municipal request volume with a total of 206 new CUSIP requests in August, followed by New York with 131 and California with 64.
“While the overall trend in CUSIP request volume is down for the second month in a row, there are some interesting pockets of growth that suggest the trend may not continue – notably in U.S. corporate debt and equity, both of which saw double-digit gains this month,” said Gerard Faulkner, Director of Operations for CGS. “We will continue to monitor these trends closely as we move through this highly unpredictable economic cycle.”
Requests for international equity CUSIPs rose 23.8% in August, while international debt CUSIP requests fell 16.5%. On an annualized basis, international equity CUSIP requests were down 38.9% and international debt CUSIP requests were down 33.0%.
To view the full CUSIP Issuance Trends report for August, click here.
Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through August 2022:
| Asset Class | 2022 YTD | 2021 YTD | YOY Change | |
CDs < 1-year Maturity | 3,226 | 1,102 | 192.7 | % |
CDs > 1-year Maturity | 4,391 | 2,771 | 58.5 | % |
Private Placement Securities | 2,918 | 2,428 | 20.2 | % |
U.S. Corporate Debt | 10,402 | 9,839 | 5.7 | % |
Canada Corporate Debt & Equity | 3,545 | 3,698 | -4.1 | % |
Syndicated Loans | 1,671 | 1,909 | -12.5 | % |
Short-Term Municipal Notes | 543 | 659 | -17.6 | % |
Long-Term Municipal Notes | 397 | 488 | -18.6 | % |
Municipal Bonds | 7,122 | 9,087 | -21.6 | % |
U.S. Corporate Equity | 7,435 | 9,790 | -24.1 | % |
International Debt | 2,455 | 3,662 | -33.0 | % |
International Equity | 1,189 | 1,946 | -38.9 | % |
About CUSIP Global Services
The financial services industry relies on CGS’ unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 years has helped CGS earn its reputation as a trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly. Relied upon worldwide as the industry standard provider of reliable, timely reference data, CGS is also a founding member and co-operates the Association of National Numbering Agencies (ANNA) Service Bureau, a global security and entity identifier database for over 34 million public and privately traded instruments, contributed by 91 national numbering agencies and 25 partner agencies representing 120 different countries. CGS is managed on behalf of the American Bankers Association (ABA) by FactSet Research Systems Inc., with a Board of Trustees that represents the voices of leading financial institutions. 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:
John Roderick
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