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Press release from PR Newswire

CUSIP ID Requests Signal Slowdown in Corporate and Muni Bond Issuance

Monday, December 17, 2012

CUSIP ID Requests Signal Slowdown in Corporate and Muni Bond Issuance13:18 EST Monday, December 17, 2012Hurricane, holidays and market uncertainty conspire to curb new identifier requests in NovemberNEW YORK, Dec. 17, 2012 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for November 2012.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests a slowdown in new market volume globally over the next 30-60 days, with US corporates, municipals and international debt and equity all signaling a pull-back in new issuance.  CUSIP requests for US corporate securities decreased 9% in November, with 1,568 new CUSIP IDs requested in the month, versus 1,717 in October.  Total US corporate CUSIP requests are still up 1.3% on a year-over-year basis.  Municipal CUSIP requests slumped 2% in November, with a total of 1,568 new IDs requested industry-wide, led by a sharp drop in sort term municipal note volume.  Excluding note and other security types, municipal CUSIP activity notched a 4% increase in month-over-month volume in November.  On a year-over-year basis, municipal CUSIP demand is still up by more than 27.8%, representing one of the strongest advances in CUSIP requests this year across all asset classes.Internationally, debt and equity CUSIP requests pulled back during the month of November, decreasing 21% and 9%, respectively.  For the year-to-date period, international equity requests are off by more than -26%, while international debt CUSIP requests show a 20.6% gain."Whether it was the result of Hurricane Sandy's disruption of financial markets, a holiday-shortened month or continued uncertainty surrounding the fiscal cliff, the month of November saw declines in identifier requests across a number of security classes," said Richard Peterson, Director, Global Markets Intelligence, S&P Capital IQ.  "It is not yet clear if this is a one-time anomaly or a sign of a more substantial slowdown in capital markets issuance, but it is a set of data we are watching very closely."To view a copy of the full CUSIP Issuance Trends report, please click here.To view a video commentary of this month's CUSIP Issuance Trends with Richard Peterson, please click here.  Following is a breakdown of new CUSIP identifier requests by asset class year-to-date through November 2012:Asset Class         2012 ytd2011 ytdYOY ChangeLong Term Note     53636347.7%Municipals    15,40612,05627.8%Int'l Debt[1]     1,6431,36220.6%Private Placement     2.6452.28415.8%CDs < 1 yr Maturity    3,6003,4484.4%US Corporates       19,11218,8761.3%CDs > 1 yr Maturity     6,7197,272-7.6%Short Term Note   1,4011,547-9.4%Int'l Equity[2]     2,3913,239-26.2%The CUSIP Global Services trends report is issued to the marketplace on a monthly basis.   For more information, please visit  About CUSIP Global ServicesFor 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 S&P Capital IQ. For more information, visit About The American Bankers AssociationThe 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[1] "International" Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. debt offerings[2]  "International" Equity refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. equity offeringsSOURCE CUSIP Global ServicesFor further information: Michael Privitera, Vice President, Public Affairs, S&P Capital IQ, +1-518-755-3278,