The 2013 H2 report covers sterling money market transactions that took place during November 2013. The total value of reported sterling money market transactions decreased since the May 2013 survey. This was largely driven by a 15% fall in the value of secured transactions, which made up some two thirds of the overall money market. By contrast, the value of unsecured sterling money market activity remained broadly unchanged. As in previous surveys, both secured and unsecured activity was concentrated at overnight maturities. Perceptions of the functioning of the unsecured sterling money market improved slightly, but remained significantly less positive than perceptions of the functioning of the secured market.