March CUSIP Issuance Trends Indicate Further Thaw in U.S. Capital Markets

NEW YORK, April 9 /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 March 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 developing hot spots of capital creation.  

According to the report, new U.S. corporate security issuance increased 78.6 percent year-over-year for the month of March, while U.S. municipal issuance increased 14.6 percent year-over-year.  Issuance of international debt was up 174.5 percent, and international equity issuance was up 33.6 percent year-over-year.  New CUSIP issuance activity has continued to show strong advances in international debt and equity markets for the last three months.

"CUSIP issuance activity is reaffirming the signals we're seeing from elsewhere in the markets that the economy is gathering steam," said Richard Peterson, Director, S&P Valuation and Risk Strategies. "We've seen positive year-over-year monthly gains in new CUSIP identifier issuance for four of the last five months; the 78.6 percent gain in U.S. corporate identifier issuance is the biggest monthly jump we've seen since 2006."

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

(1) "International" Equity & Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. offerings

The CUSIP Global Services trends report is issued to the marketplace on a monthly basis.  For more information, please visit www.cusip.com.  

About CUSIP Global Services

For 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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