Key points
- Net capital issuance by UK residents was £6.0bn in July, compared to £8.4bn in June and the previous six-month average of £4.8bn (Chart 1).
- By instrument, the largest decrease in net issuance was bonds, which fell from £5.7bn in June to £1.4bn in July and the previous six-month average of £4.7bn (Chart 4).
- The decrease in net bond issuance was driven by a fall in bond issuance of £8.4bn across all sectors, partially offset by decrease in bond repayments of £2.6bn and £2.0bn by the PNFC and MFI sectors respectively.
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 £53.4bn in July, compared to £61.9bn in June and the previous six-month average of £55.9bn (Chart 1).
- Net issuance was £6.0bn in July, compared to £8.4bn in June and the previous six-month average of £4.8bn (Chart 1).
- Year to date gross issuance was £388.7bn, £144.3bn higher than at the same point the previous year (Chart 2) and £97.3bn higher than the previous four-year average.
- Year to date net issuance was £34.6bn, £70.0bn higher than at the same point the previous year (Chart 3) and £13.3bn 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 £19.3bn in July, compared to £27.7bn in June and the previous six-month average of £26.4bn (Chart 4).
- Net bond issuance was £1.4bn in July, compared to £5.7bn in June and the previous six-month average of £4.7bn (Chart 4).
- The decrease in net bond issuance was driven by a fall in issuance of £8.4bn across all sectors, partially offset by decrease in repayments of £2.6bn and £2.0bn by the PNFC and MFI sectors respectively.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £33.3bn in July, compared to £34.0bn in June and the previous six-month average of £29.2bn (Chart 5).
- Net commercial paper issuance was £6.9bn in July, compared to £6.1bn in June and the previous six-month average of £3.1bn (Chart 5).
- The increase in net commercial paper issuance was driven by a combined decrease in repayments of £2.3bn by the PNFC and OFC sectors, partially offset by a decrease in issuance of £1.5bn by the MFI sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.8bn in July, compared to £0.2bn in June and the previous six-month average of £0.3bn (Chart 6).
- Net equity issuance was -£2.2bn in July, compared to -£3.4bn in June and the previous six-month average of -£3.1bn (Chart 6).
- The increase in net equity issuance was driven by a combined increase in issuance of £0.6bn by the PNFC and OFC sectors, complemented by a decrease in buybacks of £0.6bn by the OFC sector.
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 September 2023
