CUSIP Issuance Trends Show Sharp Uptick in New International Capital Creation

NEW YORK, Feb. 17 /PRNewswire/ -- CUSIP Global Services (CGS), managed by Standard & Poor's on behalf of the American Bankers Association, today announced the release of its CUSIP Issuance Trends Report for January 2010.  The report, which tracks the issuance of new security identifiers on a sector-by-sector, asset class-by-asset class and regional basis, offers an early indicator of nascent market trends and burgeoning hot spots of new capital creation.  

According to the report, new international security issuance surged for the month of January.  Issuance of international equities was up 63 percent, and international debt issuance was up 310 percent year-over-year.  In the US, new capital creation was down across all categories of equity and debt issuance, with the exception of municipal bonds, which saw an 8 percent year-over-year increase.  This increase in new municipal bond issuance is significant in light of the steady declines seen in municipal debt issuance over the last several months.

Following is a breakdown of new CUSIP identifier issuance by asset class through January 2010:

    
    
    Asset Class             # January 2010  # January 2009      YOY Change
    
    US Corporates                  930            1040             -38%
    CDs < 1 yr Maturity            126            1042             -90%
    Municipals                     885             798               8%
    Long Term Note                  27              38             -31%
    Short Term Note                106             119           -10.9%
    Other Municipals                31              65             -61
    Int'l Equity(1)                295             179              63%
    Int'l Debt                     123              28             310%
    Private Placement              159             181             -22%
    
    (1) "International" Equity & Debt refers to market requests for
        CUSIP International Numbers ("CINS") for non-U.S. offerings
    
    

"CUSIP Global Services is in the unique position of issuing identification codes for virtually every security that will be traded in the capital markets before those securities are ever offered publically," said Jim Taylor, Managing Director, CUSIP Global Services.  "By mining our database of CUSIP issuance activity on a monthly basis, we are able to give the marketplace an early indicator of new capital creation trends that will be developing in the weeks and months to come.   We believe this information will be a tremendously valuable barometer for capital markets activity."

CUSIP Global Services will continue to track issuance trends and share its findings with the marketplace on a monthly basis.   For more information, please visit www.cusip.com.  

About CUSIP Global Services

For over 40 years CUSIP Global Services has provided a unique common language for identifying financial instruments across institutions, exchanges and nations, enabling financial services firms to benefit from improved operating efficiencies and substantially reduced administrative costs. CUSIP Global Services is operated by the CUSIP Service Bureau (CSB). CSB is managed on behalf of the American Bankers Association by Standard & Poor's. For more information, visit www.cusip.com.

About The American Bankers Association

The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation's banking industry and strengthen America's economy and communities. Its members – the majority of which are banks with less than $125 million in assets – represent over 95 percent of the industry's $13.3 trillion in assets and employ over 2 million men and women.

SOURCE CUSIP Global Services

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