Key points
- Gross capital issuance by UK residents was £52.7 billion in August, compared to £68.4 billion in July and the previous six-month average of £63.9 billion (Chart 1).
- A decrease in capital issuance across all instruments from £68.4 billion to £52.7 billion, partially offset by a decrease in capital repayments from £68.3bn to £57.1 billion, resulted in a £4.5 billion fall in net capital issuance to -£4.4 billion.
- The decrease in net issuance was driven by a £8.2 billion decrease in gross bond issuance and a £7.2 billion decrease 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 £52.7 billion in August, compared to £68.4 billion in July and the previous six-month average of £63.9 billion (Chart 1).
- Net issuance was -£4.4 billion in August, compared to £0.1 billion in July and the previous six-month average of £3.4 billion (Chart 1).
- Year to date gross issuance was £516.1 billion, £5.7 billion lower than at the same point the previous year (Chart 2). This is £116.9 billion higher than the previous four-year average.
- Year to date net issuance was £27.8 billion, £14.6 billion lower than at the same point the previous year (Chart 3). This is £8.2 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 £22.9 billion in August, compared to £31.1 billion in July and the previous six-month average of £31.1 billion (Chart 4).
- Net bond issuance was -£1.4 billion in August, compared to £3.6 billion in July and the previous six-month average of £6.9 billion (Chart 4).
- The decrease in net issuance was driven by a fall in issuance by the MFI sector of £3.8 billion offset by a decrease in repayments by the OFC sector for £4.5 billion.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £29.6 billion in August, compared to £36.8 billion in July and the previous six-month average of £32.3 billion (Chart 5).
- Net commercial paper issuance was £0.1 billion in August, compared to £0.8 billion in July and the previous six-month average of £0.4 billion (Chart 5).
- The decrease in net issuance was driven by a fall in issuance in the MFI sector of £4.7 billion partially offset with a decrease in repayments of £4.0 billion by the same sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £0.3 billion in August, compared to £0.5 billion in July and the previous six-month average of £0.4 billion (Chart 6).
- Net equity issuance was -£3.1 billion in August, compared to -£4.3 billion in July and the previous six-month average of -£4.0 billion (Chart 6).
- The increase in net issuance was driven by a decrease in buybacks by the OFC and PNFC sectors of £0.3 billion and £1.2 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 October 2025
