Key points
- Gross capital issuance by UK residents was £72.5 billion in April, compared to £72.3 billion in March and the previous six-month average of £63.2 billion (Chart 1).
- Net capital issuance was £5.0 billion in April, compared to -£10.7 billion in March with a previous six-month average of £5.1 billion (Chart 1).
- The increase in net capital issuance was driven by a decrease in gross repayments of £15.4 billion whilst gross issuance remained steady with an increase of £0.2 billion.
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 £72.5 billion in April, compared to £72.3 billion in March and the previous six-month average of £63.2 billion (Chart 1).
- Net issuance was £5.0 billion in April, compared to -£10.7 billion in March and the previous six-month average of £5.1 billion (Chart 1).
- Year to date gross issuance was £284.0 billion, £18.9 billion higher than at the same point the previous year (Chart 2). This is £64.6 billion higher than the previous four-year average.
- Year to date net issuance was £27.9 billion, £6.0 billion higher than at the same point the previous year (Chart 3). This is £18.3 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 £30.5 billion in April, compared to £38.5 billion in March and the previous six-month average of £33.5 billion (Chart 4).
- Net bond issuance was £0.0 billion in April, compared to -£4.8 billion in March and the previous six-month average of £5.7 billion (Chart 4).
- The increase in net capital issuance was driven by higher net issuance across all sectors. Among MFIs and PNFCs, declines in gross issuance were outweighed by larger reductions in repayments, while OFCs reduced repayments alongside increased issuance.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £41.5 billion in April, compared to £33.5 billion in March and the previous six-month average of £29.0 billion (Chart 5).
- Net commercial paper issuance was £7.6 billion in April, compared to -£1.2 billion in March and the previous six-month average of £2.8 billion (Chart 5).
- The rise in net commercial paper issuance was driven by an increase in gross issuance of £6.5 billion by MFIs.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.5 billion in April, compared to £0.3 billion in March and the previous six-month average of £0.6 billion (Chart 6).
- Net equity issuance was -£2.7 billion in April, compared to -£4.6 billion in March and the previous six-month average of -£3.4 billion (Chart 6).
- The rise in net equity issuance was driven by a decrease in gross buybacks of £1.0 billion and £0.7 billion by the OFC and PNFC sectors respectively, whilst gross issuance across all sectors increased by £0.2 billion.
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: 25 June 2026
