Corporate and Municipal CUSIP Request Volumes Fall in November

NEW YORK, Dec. 16, 2021 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for November 2021. 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 monthly decreases in request volume for new corporate and municipal identifiers.

CUSIP identifier requests for the broad category of U.S. and Canadian corporate equity and debt fell 5.6% versus October totals. The decrease was driven largely by a decline in requests for U.S. corporate debt and medium-term notes (MTNs). On a year-over-year basis, corporate CUSIP request volume rose 1.3%.

Monthly municipal volume also declined in November. The aggregate total of all municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 9.7% versus October totals. On an annualized basis, total municipal CUSIP identifier request volumes were down 5.6% through November. Texas led state-level municipal request volume with a total of 178 new CUSIP requests in November, followed by California with 92 and New York with 57.

"Overall CUSIP request volume has been particularly strong this year and we're currently on track for slight year-over-year increases in request volumes for corporates, but municipal requests have lagged behind the historic highs we saw in 2020," said Gerard Faulkner, Director of Operations for CGS. "We anticipate that CUSIP request volume will be an important indicator of issuer sentiment in a likely rising rate environment in the year ahead."

Requests for international equity and debt CUSIPs were mixed in November. International equity CUSIP requests were up 0.6% versus October. International debt CUSIPs were down 4.8% on a monthly basis.

To view the full CUSIP Issuance Trends report for November, click here.

Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through November 2021:

Note to the editor: In response to concerns recently raised by the European Commission regarding the pending merger between S&P Global and IHS Markit, S&P Global has committed to divest CUSIP Global Services. Please see the press release for more information.

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 S&P Global Market Intelligence, 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
[email protected]
631.584.2200

SOURCE CUSIP Global Services

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