Research work published by the Bank is intended to
contribute to debate, and is not necessarily a statement of Bank policy.
The net debt of the public sector: end-March 1995
(by Stephen Denby of the Bank's Monetary and Financial Statistics
Division)  (56k)
analyses developments affecting the national debt and the
public sector position during the last fiscal year. As a
share of GDP, the public sector's net debt rose by 3.8 percentage
points to 42.0%. General government consolidated gross debt
(on a Maastricht basis) rose to 50.5% - but remained well
below the 60% reference level.
The external balance sheet of the United Kingdom: recent
developments (49k)
(by William Amos of the same Division)
examines changes to UK net external assets during 1994,
focusing on changes in the pattern of capital flows and
the impact of valuation changes.
The foreign exchange market in London (43k)
(by Dale Thomas of Foreign Exchange Division)
sets out the results of the survey earlier this year into
London's foreign exchange market, and compares them with
those from previous surveys and for other major centres.
The results showed that London has consolidated its position
as the world's largest centre for foreign exchange business.
Mezzanine finance (36k)
(by Mark Pratt and Alex Crowe of Business Finance Division)
describes the circumstances in which this form of financing
is used, and considers its prospects.
The pricing of over-the-counter options (33k)
(by Shelley Cooper and Stephanie Weston of the Banking Supervisory
Policy Division)
outlines the background to and results of a survey earlier
this year into how firms trading in over-the-counter options
price and manage the risk associated with these instruments.
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