Capital Issuance - October 2024

Key points

• Gross capital issuance by UK residents was £62.8 billion in October, compared to £74.8 billion in September and the previous six-month average of £68.3 billion (Chart 1).
• Net issuance was -£4.2 billion in October, compared to -£0.2 billion in September and the previous six-month average of £3.5 billion (Chart 1).
• The decrease in net capital issuance by UK residents was driven by a £2.9 billion fall in net commercial paper issuance, from -£0.3 billion in September to -£3.2 billion in October.
• Year to date gross issuance was £659.3 billion, £116.4 billion higher than at the same point the previous year (Chart 2) and £208.0 billion higher than the previous four-year average.

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 £62.8 billion in October, compared to £74.8 billion in September and the previous six-month average of £68.3 billion (Chart 1).
• Net issuance was -£4.2 billion in October, compared to -£0.2 billion in September and the previous six-month average of £3.5 billion (Chart 1).
• Year to date gross issuance was £659.3 billion, £116.4 billion higher than at the same point the previous year (Chart 2) and £208.0 billion higher than the previous four-year average.
• Year to date net issuance was £38.0 billion, £4.3 billion higher than at the same point the previous year (Chart 3) and £11.8 billion higher than the previous four-year average.

Bond issuance

• Gross bond issuance was £28.1 billion in October, compared to £33.7 billion in September and the previous six-month average of £29.8 billion (Chart 4).
• Net bond issuance was £3.2 billion in October, compared to £4.5 billion in September and the previous six-month average of £5.8 billion (Chart 4).
• The decrease in net issuance was driven by a fall in issuance of £5.4 billion by the PNFC sector, partially offset by a decrease in repayments of £4.9 billion by the OFC and MFI sectors combined.

Commercial paper issuance

• Gross commercial paper issuance was £33.7 billion in October, compared to £40.9 billion in September and the previous six-month average of £37.0 billion (Chart 5).
• Net commercial paper issuance was -£3.2 billion in October, compared to -£0.3 billion in September and the previous six-month average of £0.1 billion (Chart 5).
• The fall in net issuance was driven by a decrease in issuance of £5.6 billion by the MFI sector, partially offset by a fall in repayments of £3.7 billion by the OFC and MFI sectors combined.

Equity issuance

• Gross equity issuance was £0.9 billion in October, compared to £0.2 billion in September and the previous six-month average of £1.5 billion (Chart 6).
• Net equity issuance was -£4.1 billion in October, compared to -£4.3 billion in September and the previous six-month average of -£2.4 billion (Chart 6).
• The rise in net issuance was driven by an increase in issuance of £0.7 billion by the PNFC sector, which more than offset the increase of £0.6 billion in buybacks by the same sector.

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: 30 December 2024