Key points
- Gross capital issuance by UK residents was £59.9bn in November, compared to £50.8bn in October and the previous six-month average of £39.5bn (Chart 1).
- Gross bond issuance was £27.7bn in November, compared to £20.8bn in October and the previous six-month average of £21.3bn (Chart 4).
- Gross commercial paper issuance was £31.3bn in November, compared to £29.7bn in October and the previous six-month average of £17.7bn. This was the highest level of gross commercial paper issuance since January 2009 (Chart 5).
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 £59.9bn in November, compared to £50.8bn in October and the previous six-month average of £39.5bn (Chart 1).
- Net issuance was £10.9bn in November, compared to £2.9bn in October and the previous six-month average of -£1.2bn (Chart 1).
- Year to date gross issuance was £447.2bn, £31.1bn lower than at the same point the previous year (Chart 2) and £8.6bn lower than the previous four-year average.
- Year to date net issuance was -£14.0bn, £60.1bn lower than at the same point the previous year (Chart 3) and £72.4bn lower than the previous four-year average.
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 £27.7bn in November, compared to £20.8bn in October and the previous six-month average of £21.3bn (Chart 4).
- Net bond issuance was £9.1bn in November, compared to -£0.5bn in October and the previous six-month average of £1.8bn (Chart 4).
- The increase in net issuance was driven by an increase in issuance by the MFI and OFC sectors of £4.7bn and £4.0bn respectively, combined with a decrease in repayments of £2.7bn and £1.7bn by both sectors respectively.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £31.3bn in November, compared to £29.7bn in October and the previous six-month average of £17.7bn. This was the highest level of gross commercial paper issuance since January 2009 (Chart 5).
- Net commercial paper issuance was £4.0bn in November, compared to £6.9bn in October and the previous six-month average of £1.1bn (Chart 5).
- The primary driver of decrease in net commercial paper issuance was an increase in repayments of £4.6bn in MFI sector, more than offsetting the £2.8bn increase in issuance by the same sector.
Equity issuance
- Gross equity issuance was £0.9bn in November, compared to £0.3bn in October and the previous six-month average of £0.5bn (Chart 6).
- Net equity issuance was -£2.2bn in November, compared to -£3.6bn in October and the previous six-month average of -£4.1bn (Chart 6).
- The increase in net issuance was driven by a combined decrease in buybacks of £0.8bn by the PNFC and OFC sectors, together with a combined increase in issuance of £0.5bn by the same sectors.
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.gsi.gov.uk.
Next release date: 27 January 2023
