Key points
- Gross capital issuance by UK residents was £57.6 billion in September, compared to £52.7 billion in August and the previous six-month average of £61.6 billion (Chart 1).
- This increase was offset by an increase in capital repayments from £57.1 billion to £62.4 billion, resulting in a £0.4 billion decrease in net capital issuance to -£4.8 billion.
- The increase in gross issuance this month was more than accounted for by a £8.2 billion increase in gross bond issuance, partially offset by a fall of £3.2 billion in gross commercial paper issuance.
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 £57.6 billion in September, compared to £52.7 billion in August and the previous six-month average of £61.6 billion (Chart 1).
- Net issuance was -£4.8 billion in September, compared to -£4.4 billion in August and the previous six-month average of £1.2 billion (Chart 1).
- Year to date gross issuance was £573.7 billion, £22.9 billion lower than at the same point the previous year (Chart 2). This is £120.3 billion higher than the previous four-year average.
- Year to date net issuance was £23.0 billion, £19.1 billion lower than at the same point the previous year (Chart 3). This is £5.1 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 £31.1 billion in September, compared to £22.9 billion in August and the previous six-month average of £29.1 billion (Chart 4).
- Net bond issuance was £3.3 billion in September, compared to -£1.4 billion in August and the previous six-month average of £4.4 billion (Chart 4).
- An increase in net issuance by PNFCs and MFIs of £3.3 billion and £1.6 billion respectively more than accounted for an overall increase of £4.7 billion net bond issuance in September.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £26.4 billion in September, compared to £29.6 billion in August and the previous six-month average of £32.2 billion (Chart 5).
- Net commercial paper issuance was -£3.0 billion in September, compared to £0.1 billion in August and the previous six-month average of £0.9 billion (Chart 5).
- A decrease in net issuance by MFIs and PNFCs of £2.3 billion and £0.8 billion respectively contributed to an overall decrease of £3.1 billion net commercial issuance in September.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.1 billion in September, compared to £0.3 billion in August and the previous six-month average of £0.3 billion (Chart 6).
- Net equity issuance was -£5.0 billion in September, compared to -£3.1 billion in August and the previous six-month average of -£4.2 billion (Chart 6).
- The decrease in net equity issuance of £1.9 billion was accounted for by increased buybacks by PNFCs and OFCs of £1.0 billion and £0.9 billion respectively.
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 November 2025
