Key points
- Total capital issuance by all UK residents was £62.7bn in March, £22.1bn higher than in February and £24.4bn higher than the previous six month average.
- Gross bond issuance was £43.1bn in March, compared to £22.6bn in February and the previous six month average of £21.4bn.
- Gross commercial paper issuance was £17.8bn in March, compared to £15.6bn in February and the previous six month average of £14.1bn.
- Net equity issuance was £0.8bn in March, compared to £2.1bn in February and the previous six month average of £2.5bn.
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 £62.7bn in March, compared to £40.5bn in February and the previous six month average of £38.3bn (Chart 1).
- Net issuance was £14.7bn in March, compared to £5.7bn in February and the previous six month average of -£0.2bn (Chart 1).
- Year-to-date gross issuance was £143.8bn, £19.8bn higher than at the same point the previous year (Chart 2).
- Year-to-date net issuance was £20.5bn, £2.8bn higher than at the same point the previous year (Chart 3).
Chart 1: Total capital issuance by UK-residents (all currencies)
Non seasonally adjusted
Chart 2: Gross year to date capital issuance by UK residents (all currencies)
Non seasonally adjusted
Chart 3: Net year to date capital issuance by UK residents (all currencies)
Non seasonally adjusted
Bond issuance
- Gross bond issuance was £43.1bn in March, compared to £22.6bn in February and the previous six month average of £21.4bn (Chart 4).
- Net bond issuance was £16.6bn in March, compared to £5.6bn in February and the previous six month average of -£2.1bn (Chart 4).
- The increase in net issuance was primarily driven by higher gross issuance across all three major sectors.
Chart 4: Bond issuance by UK-residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £17.8bn in March, compared to £15.6bn in February and the previous six month average of £14.1bn (Chart 5).
- Net commercial paper issuance was -£2.6bn in March, compared to -£2.0bn in February and the previous six month average of -£0.7bn (Chart 5).
- The decrease in net issuance was primarily driven by an increase in repayments by the PNFC sector, which outweighed a fall in repayments by the MFI sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £1.8bn in March, compared to £2.3bn in February and the previous six month average of £2.7bn (Chart 6).
- Net equity issuance was £0.8bn in March, compared to £2.1bn in February and the previous six month average of £2.5bn (Chart 6).
- The decrease in net issuance was primarily driven by a decrease in issuance by the PNFC sector combined with an increase in buybacks by the OFC 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: 28 May 2021
