Key points
- Net capital issuance by UK residents was -£6.6bn in April, compared to £7.8bn in March and the previous six-month average of £5.6bn (Chart 1).
- By instrument, the largest decrease in net issuance was bonds, which was -£6.8bn in April, compared to £12.3bn in March and the previous six-month average of £5.8bn (Chart 4).
- The decrease in net bond issuance was driven by a fall in bond issuance of £21.2bn, and primarily in the MFI sector where bond issuance reduced by £14.8bn (Chart 4).
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 £48.3bn in April, compared to £65.9bn in March and the previous six-month average of £51.0bn (Chart 1).
- Net issuance was -£6.6bn in April, compared to £7.8bn in March and the previous six-month average of £5.6bn (Chart 1).
- Year to date gross issuance was £213.0bn, £63.0bn higher than at the same point of the previous year (Chart 2) and £44.3bn higher than the previous four-year average.
- Year to date net issuance was £15.8bn, £33.7bn higher than at the same point of the previous year (Chart 3) and £0.9bn higher than the previous four-year average.
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 £15.8bn in April, compared to £37.0bn in March and the previous six-month average of £25.3bn (Chart 4).
- Net bond issuance was -£6.8bn in April, compared to £12.3bn in March and the previous six-month average of £5.8bn (Chart 4).
- The decrease in net issuance was driven by a fall in issuance of £21.2bn, and primarily in the MFI sector where bond issuance reduced by £14.8bn to £6.1bn.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £32.0bn in April, compared to £28.8bn in March and the previous six-month average of £25.3bn (Chart 5).
- Net commercial paper issuance was £2.9bn in April, compared to £0.4bn in March and the previous six-month average of £2.7bn (Chart 5).
- The rise in net issuance was primarily driven by an increase in issuance of £3.4bn by the MFI sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.6bn in April, compared to £0.2bn in March and the previous six-month average of £0.4bn (Chart 6).
- Net equity issuance was -£2.7bn in April, compared to -£4.9bn in March and the previous six-month average of -£2.9bn (Chart 6).
- The increase in net issuance was driven by a decrease in buybacks by the PNFC and OFC sectors of £1.1bn and £0.6bn respectively combined with an increase of £0.4bn in issuance by the same sectors.
Chart 6: 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 June 2023
