Home Business Corporate And Municipal CUSIP Request Volumes Rise In June

Corporate And Municipal CUSIP Request Volumes Rise In June

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

NORWALK, Conn., July 13, 2023 (GLOBE NEWSWIRE) — CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for June 2023. 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 increase in request volume for new corporate and municipal identifiers.

North American corporate requests totaled 6,795 in June, which is up 4.2% on a monthly basis. On a year-over-year basis, North American corporate requests closed the month up 21.0% over year ago totals. The increase was driven by a 7.7% monthly uptick in requests for longer-term certificates of deposit (CDs), with maturities of one year or more, and a 1.2% increase in requests for shorter-term CDs, with maturities under one year. Requests for Canadian corporate CUSIPs rose 29.3% this month. Meanwhile, U.S. corporate debt volumes fell 10.2% and U.S. corporate equity volumes fell 8.9%.

Municipal request volume rose this month, largely driven by the seasonal peak in municipal notes issuance tied to municipal fiscal year budgeting. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – rose 26.7% versus May totals. On a year-over-year basis, overall municipal volumes are down 15.4%. New York led state-level municipal request volume with a total of 199 new CUSIP requests in June, followed by Texas (156) and Wisconsin (90).

“While there is some seasonality reflected in this month’s municipal bond dataset pegged to the annual peak in municipal note issuance, we continue to see overall strong volume in CUSIP request volumes across major U.S. asset classes,” said Gerard Faulkner, Director of Operations for CGS. “The continued growth in CD request volume is also notable, given that our year-over-year comparisons are still topping the historic highs we were seeing at this time last year.”

Requests for international equity CUSIPs rose 2.6% in June while international debt CUSIP requests fell 11.6%. On an annualized basis, international equity CUSIP requests are down 15.0% and international debt CUSIP requests are down 30.8%.

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

Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through June 2023:

Asset Class

2023 YTD

2022 YTD

YOY Change

CDs < 1-year Maturity

6,141

1,977

210.6

%

Short-Term Municipal Notes

548

345

58.8

%

CDs > 1-year Maturity

4,670

3,334

40.1

%

U.S. Corporate Debt

10,283

8,195

25.5

%

Syndicated Loans

1,205

1,211

-0.5

%

Canada Corporate Debt & Equity

2,496

2,713

-8.0

%

International Equity

771

907

-15.0

%

Long-Term Municipal Notes

213

252

-15.5

%

U.S. Corporate Equity

4,821

5,934

-18.8

%

Municipal Bonds

4,496

5,626

-20.1

%

Private Placement Securities

1,674

2,267

-26.2

%

International Debt

1,414

2,043

-30.8

%


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.

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.

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

GlobeNewswire
Editor
Business

Chinese Stocks Jump on Promise of “Moderately Loose” Monetary Policy

David Moadel19 hours

The newly-announced measures mark a significant tonal shift in Chinese monetary policy Shares of Alibaba (NYSE:BABA), JD.com (NASDAQ:JD), Baidu (NASDAQ:BIDU), and other Chinese stocks rallied sharply Monday morning after the Chinese government announced stimulus measures to...

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.