Key points
- Gross capital issuance by UK residents was £78.1 billion in May, compared to £72.5 billion in April and the previous six-month average of £66.0 billion (Chart 1).
- Net capital issuance was £7.8 billion in May, compared to £5.0 billion in April and the previous six-month average of £5.4 billion (Chart 1).
- The £2.9 billion increase in net capital issuance was driven by an increase in gross issuance of £5.6 billion, offset by an increase in gross repayments of £2.7 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 £78.1 billion in May, compared to £72.5 billion in April and the previous six-month average of £66.0 billion (Chart 1).
- Net capital issuance was £7.8 billion in May, compared to £5.0 billion in April and the previous six-month average of £5.4 billion (Chart 1).
- Year to date gross issuance was £362.1 billion, £29.5 billion higher than at the same point the previous year (Chart 2). This is £81.5 billion higher than the previous four-year average.
- Year to date net issuance was £35.8 billion, £6.5 billion higher than at the same point the previous year (Chart 3). This is £18.4 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 £45.9 billion in May, compared to £30.5 billion in April and the previous six-month average of £33.8 billion (Chart 4).
- Net bond issuance was £13.2 billion in May, compared to £0.0 billion in April and the previous six-month average of £4.8 billion (Chart 4).
- The increase in net issuance was driven by an increase in gross issuance of £12.7 billion by the MFI sector.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £31.2 billion in May, compared to £41.5 billion in April and the previous six-month average of £31.6 billion (Chart 5).
- Net commercial paper issuance was -£3.0 billion in May, compared to £7.6 billion in April and the previous six-month average of £3.7 billion (Chart 5).
- The decrease in net issuance was driven by a decrease in gross issuance of £11.5 billion by the MFI sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £1.0 billion in May, compared to £0.5 billion in April and the previous six-month average of £0.7 billion (Chart 6).
- Net equity issuance was -£2.4 billion in May, compared to -£2.7 billion in April and the previous six-month average of -£3.1 billion (Chart 6).
- The increase in net issuance was driven by an increase in gross issuance of £0.6 billion by the PNFC 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 July 2026
