Key points
- Net capital issuance was £6.2 billion in January, compared to -£6.7 billion in December and the previous six-month average of £1.5 billion (Chart 1).
- The increase in net capital issuance was driven by a rise in bond and commercial paper net issuance which respectively rose to £4.6 billion and £4.7 billion in January, compared to -£2.8 billion and -£2.1 billion in December.
- Driving the increase in net bond and commercial paper issuance was the MFI sector which saw an increase in gross issuance across both instruments of £19.3 billion.
In addition to the summary statistics contained within this release and the associated tables, the Bank publishes a number of more granular series; please see our Bankstats tables (E3.1) and the full list of series and interactive charts.
All sectors
- Gross capital issuance by UK residents was £62.7 billion in January, compared to £30.7 billion in December and the previous six-month average of £49.5 billion (Chart 1).
- Net issuance was £6.2 billion in January, compared to -£6.7 billion in December and the previous six-month average of £1.5 billion (Chart 1).
Chart 1: Total capital issuance by UK residents (all currencies)
Non seasonally adjusted
Bond issuance
- Gross bond issuance was £32.1 billion in January, compared to £15.3 billion in December and the previous six-month average of £22.1 billion (Chart 2).
- Net bond issuance was £4.6 billion in January, compared to -£2.8 billion in December and the previous six-month average of £3.2 billion (Chart 2).
- The increase in net issuance was driven by a rise of £16.8 billion in issuance across all sectors, which more than offset an increase of £9.5 billion in repayments across all sectors.
Chart 2: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £30.2 billion in January, compared to £15.0 billion in December and the previous six-month average of £26.7 billion (Chart 3).
- Net commercial paper issuance was £4.7 billion in January, compared to -£2.1 billion in December and the previous six-month average of £0.7 billion (Chart 3).
- The increase in net issuance was driven by a rise in MFI issuance of £12.5 billion, with January issuance for the sector amounting to £22.6 billion.
Chart 3: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.3 billion in January, compared to £0.4 billion in December and the previous six-month average of £0.7 billion (Chart 4).
- Net equity issuance was -£3.1 billion in January, compared to -£1.9 billion in December and the previous six-month average of -£2.4 billion (Chart 4).
- The decrease in net issuance was driven by a £0.9 billion increase in buybacks that amounted to £3.4 billion in January, with the PNFC sector accounting for £2.5 billion. This is the 26th consecutive month of net equity buybacks.
Chart 4: Equity issuance by UK residents (all currencies)
Non seasonally adjusted
Key:
- PNFC = Private non-financial corporations
- MFI = Monetary financial institutions
- OFC = Other financial corporations
- “Other sectors” contains public corporations and non-profit institutions serving households
- CP = Commercial paper
Queries
If you have any comments or queries with regard to this release please email DSDSecurities@bankofengland.co.uk.
Next release date: 27 March 2024
