Key points
- Net capital issuance by UK residents was -£2.6 billion in August, compared to £6.0 billion in July and the previous six-month average of £3.6 billion (Chart 1).
- By instrument, commercial paper saw the largest decrease in net issuance of any instrument. Net commercial paper issuance fell from £6.9 billion to £1.8 billion (Chart 5).
- The decrease in net commercial paper issuance was driven by an increase in repayments of £6.0 billion by the MFI sector, which more than offset the increase in issuance of £2.5 billion by the same sector.
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 £53.3 billion in August, compared to £53.4 billion in July and the previous six-month average of £56.8 billion (Chart 1).
- Net issuance was -£2.6 billion in August, compared to £6.0 billion in July and the previous six-month average of £3.6 billion (Chart 1).
- Year to date gross issuance was £442.0 billion, £149.2 billion higher than at the same point the previous year (Chart 2) and £113.8 billion higher than the previous four-year average.
- Year to date net issuance was £32.0 billion, £55.8 billion higher than at the same point the previous year (Chart 3) and £9.0 billion 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 £19.2 billion in August, compared to £19.3 billion in July and the previous six-month average of £25.3 billion (Chart 4).
- Net bond issuance was -£1.5 billion in August, compared to £1.4 billion in July and the previous six-month average of £3.5 billion (Chart 4).
- The decrease in net bond issuance was driven by a £2.7 billion increase in repayments by the PNFC sector combined with a £1.7 billion decrease in issuance by the same sector.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £33.8 billion in August, compared to £33.3 billion in July and the previous six-month average of £31.1 billion (Chart 5).
- Net commercial paper issuance was £1.8 billion in August, compared to £6.9 billion in July and the previous six-month average of £3.2 billion (Chart 5).
- The decrease in net commercial paper issuance was driven by an increase in repayments of £6.0 billion by the MFI sector, which more than offset the increase in issuance of £2.5 billion by the same sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.3 billion in August, compared to £0.8 billion in July and the previous six-month average of £0.4 billion (Chart 6).
- Net equity issuance was -£2.9 billion in August, compared to -£2.2 billion in July and the previous six-month average of -£3.1 billion (Chart 6).
- The decrease in net equity issuance was driven by a £0.6 billion increase in buybacks by the OFC sector, combined with the decrease in issuance across all 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: 26 October 2023
