Key points
- Net issuance was £8.6 billion in February, compared to £11.8 billion in January and the previous six-month average of £1.3 billion (Chart 1).
- Gross capital issuance by UK residents was £66.0 billion in February, compared to £80.2 billion in January and the previous six-month average of £60.7 billion (Chart 1).
- The fall in net capital issuance was driven by a decrease of £13.4 billion in commercial paper issuance, which more than offset the £6.9 billion decrease in commercial paper repayments during the month.
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 £66.0 billion in February, compared to £80.2 billion in January and the previous six-month average of £60.7 billion (Chart 1).
- Net issuance was £8.6 billion in February, compared to £11.8 billion in January and the previous six-month average of £1.3 billion (Chart 1).
- Year to date gross issuance was £146.2 billion, £35.0 billion higher than at the same point the previous year (Chart 2) and £54.0 billion higher than the previous four-year average.
- Year to date net issuance was £20.4 billion, £14.6 billion higher than at the same point the previous year (Chart 3) and £15.0 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 £34.6 billion in February, compared to £36.1 billion in January and the previous six-month average of £28.2 billion (Chart 4).
- Net bond issuance was £13.6 billion in February, compared to £11.4 billion in January and the previous six-month average of £5.3 billion (Chart 4).
- The increase in net issuance was driven by a decrease in repayments of £4.3 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 £30.6 billion in February, compared to £44.0 billion in January and the previous six-month average of £32.1 billion (Chart 5).
- Net commercial paper issuance was -£2.5 billion in February, compared to £4.0 billion in January and the previous six-month average of -£0.1 billion (Chart 5).
- The decrease in net issuance was driven by a fall in issuance of £14.0 billion by the MFI sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.8 billion in February, compared to £0.1 billion in January and the previous six-month average of £0.4 billion (Chart 6).
- Net equity issuance was -£2.5 billion in February, compared to -£3.6 billion in January and the previous six-month average of -£3.9 billion (Chart 6).
- The increase in net issuance was driven by a rise in issuance of £0.7 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: 29 April 2025
