NORWALK, Conn., May 11, 2022 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for April 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 requests for new corporate identifiers rose on a monthly basis.
North American corporate requests totaled 5,613 in April 2022, which is up 6.4% on a monthly basis. On a year-over-year basis, corporate requests were up 9.3%. The monthly increase was driven primarily by a 36.7% increase in requests for new Canadian corporate identifiers, a 23.0% increase in requests for short-term certificates of deposit and an 11.8% increase in requests for long-term certificates of deposit. This is the fourth-straight month of significant increases in short- and long-term CD request volume.
Municipal request volume declined in April, following a significant increase in March. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 12.6% versus March totals. On a year-over-year basis, overall municipal volumes were down 13.5%. Texas led state-level municipal request volume with a total of 118 new CUSIP requests in April, followed by California with 83 and Wisconsin with 60.
“Given the current state of the macroeconomic situation, it should come as little surprise that we’re seeing a fair amount of month-to-month variability in CUSIP request volume,” said Gerard Faulkner, Director of Operations for CGS. “The one asset class that’s showing a clear-cut, consistent trend has been short- and long-term CDs, where we’re seeing our fourth-straight month of increased request volume. Clearly, CD investors are banking on rising rates.”
Requests for international equity and debt CUSIPs both declined in April. International equity CUSIP requests were down 32.6% versus March. International debt CUSIPs were down 13.0% on a monthly basis.
To view the full CUSIP Issuance Trends report for April, click here.
Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through April 2022:
Asset Class | 2022 YTD | 2021 YTD | YOY Change |
CDs < 1-year Maturity | 940 | 454 | 107.0% |
CDs > 1-year Maturity | 2,128 | 1,349 | 57.7% |
Private Placement Securities | 1,546 | 1,188 | 30.1% |
U.S. Corporate Debt | 5,001 | 5,033 | -0.6% |
Canada Corporate Debt & Equity | 1,816 | 1,893 | -4.1% |
Municipal Bonds | 3,613 | 4,118 | -12.3% |
U.S. Corporate Equity | 4,187 | 4,773 | -12.3% |
Syndicated Loans | 737 | 927 | -20.5% |
International Debt | 1,484 | 1,877 | -20.9% |
Long-Term Municipal Notes | 99 | 141 | -29.8% |
Short-Term Municipal Notes | 160 | 244 | -34.4% |
International Equity | 587 | 1,087 | -46.0% |
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
