NORWALK, Conn., Nov. 15, 2022 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for October 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 increase in request volume for new corporate and municipal identifiers.
North American corporate requests totaled 6,017 in October, which is up 16.3% on a monthly basis. On a year-over-year basis, North American corporate requests are up 2.7%. October volumes were driven by a 22.4% increase in requests for short-term certificates of deposit (CDs) and a 20.4% increase in requests for long-term CD identifiers. On a year-over-year basis, CUSIP request volume for short-term CDs is up 219.1% and request volume for long-term CDs is up 59.4%. U.S. corporate equity requests also rose 5.7% and U.S. corporate debt requests rose 8.2% this month.
Municipal request volume increased in October, reversing a three-month trend in declining CUSIP request volume. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – rose 3.6% versus September totals. On a year-over-year basis, overall municipal volumes were down 21.0%. Texas led state-level municipal request volume with a total of 118 new CUSIP requests in October, followed by New Jersey with 82 and New York with 77.
“As we head into the third quarter in an environment of steadily rising interest rates and persistent economic uncertainty, issuers are continuing to tap into the debt and equity markets with a steady stream of new CUSIP requests,” said Gerard Faulkner, Director of Operations for CGS. “Of course, the big beneficiary of the current macroeconomic trend has been the CD market, where short-term CD volumes are up over 219% and longer-term CD volumes are up over 59% so far this year.”
Requests for international equity CUSIPs fell 5.2% in October while international debt CUSIP requests fell 15.1%. On an annualized basis, international equity CUSIP requests were down 35.8% and international debt CUSIP requests were down 40.0%. Private placement number orders fell 43.1% on a monthly basis. Syndicated loan requests were down 2.6% on a monthly basis.
To view the full CUSIP Issuance Trends report for October, click here.
Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through October 2022:
| Asset Class | 2022 YTD | 2021 YTD | YOY Change | |
| CDs < 1-year Maturity | 4,914 | 1,540 | 219.1 | % |
| CDs > 1-year Maturity | 5,751 | 3,609 | 59.4 | % |
| Private Placement Securities | 3,756 | 3,159 | 18.9 | % |
| U.S. Corporate Debt | 12,462 | 13,054 | -4.5 | % |
| Canada Corporate Debt & Equity | 4,253 | 4,982 | -14.6 | % |
| Syndicated Loans | 2,048 | 2,480 | -17.4 | % |
| Short-Term Municipal Notes | 764 | 860 | -11.2 | % |
| Long-Term Municipal Notes | 463 | 579 | -20.0 | % |
| Municipal Bonds | 8,569 | 11,337 | -24.4 | % |
| U.S. Corporate Equity | 8,870 | 12,101 | -26.7 | % |
| International Debt | 2,979 | 4,963 | -40.0 | % |
| International Equity | 1,491 | 2,324 | -35.8 | % |
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:
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