NORWALK, Conn., Oct. 13, 2022 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for September 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 municipal identifiers, while corporate request volume increased.
North American corporate requests totaled 5,174 in September 2022, which is up 2.1% on a monthly basis. September volumes were driven by a 31.9% increase in requests for medium-term notes and a 13.1% increase in requests for short-term certificates of deposit (CDs) identifiers. On a year-over-year basis CUSIP request volume for short-term CDs is up 215.0%, extending a nine-month growth streak. U.S. corporate equity requests fell 15.1% and U.S. corporate debt requests declined 17.8% this month.
Municipal request volume declined for the third straight month in September. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 7.7% versus August totals. On a year-over-year basis, overall municipal volumes were down 19.6%. Texas led state-level municipal request volume with a total of 132 new CUSIP requests in September, followed by New York with 114 and California with 65.
“Despite a fair amount of volatility, overall corporate request volumes have increased this year, with year-over-year volume currently up 8% as we head into the fourth quarter,” said Gerard Faulkner, Director of Operations for CGS. “The same cannot be said for the muni market, where we’re seeing a third straight monthly decline in requests for new CUSIP identifiers and a year-over-year decline of 19.6%. It will be interesting to see how these trends are influenced as interest rates continue to rise.”
Requests for international equity CUSIPs fell 0.6% in September while international debt CUSIP requests rose 51.9%. On an annualized basis, international equity CUSIP requests were down 36.9% and international debt CUSIP requests were down 35.9%.
To view the full CUSIP Issuance Trends report for September, click here.
Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through September 2022:
| Asset Class | 2022 YTD | 2021 YTD | YOY Change |
| CDs < 1-year Maturity | 3,985 | 1,265 | 215.0% |
| CDs > 1-year Maturity | 5,008 | 3,077 | 62.8% |
| Private Placement Securities | 3,452 | 2,769 | 24.7% |
| U.S. Corporate Debt | 11,392 | 11,235 | 1.4% |
| Canada Corporate Debt & Equity | 3,907 | 4,082 | -4.3 |
| Syndicated Loans | 1,862 | 2,173 | -14.3 |
| Short-Term Municipal Notes | 657 | 768 | -14.5 |
| Long-Term Municipal Notes | 438 | 537 | -18.4 |
| Municipal Bonds | 7,831 | 10,133 | -22.7 |
| U.S. Corporate Equity | 8,133 | 10,889 | -25.3 |
| International Debt | 2,739 | 4,273 | -35.9 |
| International Equity | 1,344 | 2,130 | -36.9 |
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
john@jroderick.com
+1 (631) 584.2200
