CUSIP Global Services Enhances Access to U.S. Federal Reserve Stimulus Programs Data

NEW YORK, July 22, 2020 /PRNewswire/ -- CUSIP Global Services today announced the development of expanded data fields and supporting files for all securities issued under the U.S. Federal Reserve Municipal Liquidity Facility (MLF) and Term Asset-Backed Securities Loan Facility (TALF) stimulus programs. CUSIP Global Services has added specific MLF and TALF designations in the security description for all securities issued as part of these programs, and that information will be provided across all CUSIP Global Services data feed and web access platforms. In addition, CUSIP Global Services has made a special stand-alone file of securities issued under these programs freely available to interested market participants, regardless of subscriber status.

"A rock-solid operational and data infrastructure will be central to the success of these critical stimulus programs, allowing institutions to seamlessly execute trades, update security master files and feed risk and compliance engines with timely, reliable reference data," said Scott Preiss, Managing Director and Global Head of CUSIP Global Services. "We are honored to be in a position to support the use of these stimulus programs by facilitating their seamless introduction into institutional markets."

The MLF is a U.S. Federal Reserve stimulus program designed to support lending to U.S. states and local governments by creating a Fed-sponsored special purpose vehicle to purchase eligible municipal notes directly from issuing municipalities at the point of issuance. The TALF is a funding backstop created by the Federal Reserve Bank of New York and the U.S. Department of the Treasury to facilitate the issuance of asset-backed-securities by making up to $100 billion of loans available to borrowers. CUSIP Global Services will now add a "T" for securities being issued under the TALF program- and "M" for securities issued as part of the MLF to uniquely identify securities issued through the programs. These unique values and accompanying security-level information will be used to track these securities throughout the financial system.

Initial response from the marketplace has been strong, with a number of asset management, research and financial technology firms already accessing the stand-alone securities file to track new issuance spurred by the federal liquidity programs.

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 116 national numbering agencies providing ISIN coverage across more than 200 jurisdictions.. 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.

SOURCE CUSIP Global Services

Related Links

http://www.cusip.com