The 2015 H2 report covers sterling money market transactions that took place during November 2015. The total value of sterling money market transactions fell 7% since the previous survey in May 2015. Secured activity continued to fall and made up 66% of total reported transactions, while unsecured activity had increased slightly. The majority of both secured and unsecured activity continued to be carried out at overnight maturities. Perceptions of the functioning of the unsecured sterling money market remained negative on balance but were slightly improved from the previous survey, while perceptions of liquidity in the secured market further deteriorated and were deemed negative overall, consistent with the headline fall in activity.