Key points
- Gross capital issuance by all UK residents was £42.6bn in January 2020, £11.2bn higher than December 2019 and £2.8bn higher than the previous six month average.
- Gross bond issuance across all sectors was £22.6bn in January 2020, £5.7bn higher than December 2019 but £0.1bn lower than the previous six month average.
- Gross commercial paper issuance by the PNFC sector was £6.7bn in January 2020, £3.1bn higher than December 2019 and £2.7bn higher than the previous six month average.
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 £42.6bn in January 2020, compared to £31.4bn in December 2019 and the previous six month average of £39.8bn (Chart 1).
- Net issuance was £6.1bn in January 2020, compared to -£1.7bn in December 2019 and the previous six month average of £3.8bn (Chart 1).
- Gross issuance in January 2020 was £13.3bn higher than January 2019 (Chart 2).
- Net issuance in January 2020 was £4.5bn higher than January 2019 (Chart 3).
Chart 1: Total capital issuance by UK-residents (all currencies)
Non seasonally adjusted
Chart 2: January gross capital issuance by UK-residents (all currencies)
Non seasonally adjusted
Chart 3: January net year to date capital issuance by UK-residents (all currencies)
Non seasonally adjusted
Bond issuance
- Gross bond issuance was £22.6bn in January 2020, compared to £16.8bn in December 2019 and the previous six month average of £22.7bn (Chart 4).
- Net bond issuance was £2.3bn in January 2020, compared to -£1.4bn in December 2019 and the previous six month average of £4.1bn (Chart 4).
- The increase in net issuance was driven by an increase in issuance by the MFI sector combined with a decrease in repayments by the PNFC sector.
Chart 4: Bond issuance by UK-residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £19.8bn in January 2020, compared to £12.9bn in December 2019 and the previous six month average of £16.3bn (Chart 5).
- Net commercial paper issuance was £4.8bn in January 2020, compared to -£1.4bn in December 2019 and the previous six month average of £0.8bn (Chart 5).
- The increase in net issuance was driven by increases in issuance by both the MFI and PNFC sectors.
Chart 5: Commercial paper issuance by UK-residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.3bn in January 2020, compared to £1.6bn in December 2019 and the previous six month average of £0.8bn (Chart 6).
- Equity showed net buybacks of £1.0bn in January 2020, compared to net issuance of £1.0bn in December 2019, and the previous six month average buyback of -£1.2bn (Chart 6).
- The decrease in net issuance was driven by a decrease in issuance by both the OFC and PNFC sectors combined with an increase in repayments by the PNFC sector.
Chart 6: Equity issuance by UK-residents (all currencies)
Non seasonally adjusted
Key
- PNFC = Private non-financial corporation
- MFI = Monetary financial institutions
- OFC = Other financial corporations
- Other sectors = 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.gsi.gov.uk.
Next release date: 26 March 2020