Key points
- Total gross capital issuance by all UK residents was £52.1bn in November, £11.0bn higher than in October and £12.2bn higher than the previous six-month average.
- Total net issuance was £15.8bn in November, compared to £9.0bn in October and the previous six-month average of £1.9bn.
- Net bond issuance was £9.9bn in November, compared to £3.6bn in October and the previous six-month average of £1.4bn.
- Net commercial paper issuance was £5.4bn in November, compared to £3.9bn in October and the previous six-month average of £0.0bn.
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 £52.1bn in November, compared to £41.1bn in October and the previous six-month average of £39.9bn (Chart 1).
- Net issuance was £15.8bn in November, compared to £9.0bn in October and the previous six-month average of £1.9bn (Chart 1).
- Year to date gross issuance was £474.0bn, £17.1bn lower than at the same point the previous year (Chart 2). Whilst lower than 2020, this is £26.4bn higher than the previous four-year average.
- Year to date net issuance was £41.8bn, £21.7bn lower than at the same point the previous year (Chart 3). This is £20.8bn lower 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 £28.5bn in November, compared to £21.2bn in October and the previous six-month average of £24.7bn (Chart 4).
- Net bond issuance was £9.9bn in November, compared to £3.6bn in October and the previous six-month average of £1.4bn (Chart 4).
- The increase in net issuance was primarily driven by an increase in issuance by the OFC sector.
Chart 4: Bond issuance by UK residents (all currencies)
Non seasonally adjusted
Commercial paper issuance
- Gross commercial paper issuance was £19.9bn in November, compared to £16.0bn in October and the previous six-month average of £12.9bn (Chart 5).
- Net commercial paper issuance was £5.4bn in November, compared to £3.9bn in October and the previous six-month average of £0.0bn (Chart 5).
- The increase in net issuance was driven by an increase in issuance across all three major sectors, with a marked increase from the MFI sector.
Chart 5: Commercial paper issuance by UK residents (all currencies)
Non seasonally adjusted
Equity issuance
- Gross equity issuance was £3.7bn in November, compared to £3.9bn in October and the previous six-month average of £2.3bn (Chart 6).
- Net equity issuance was £0.6bn in November, compared to £1.4bn in October and the previous six-month average of £0.6bn (Chart 6).
- The decrease in net issuance was driven by a decrease in gross OFC issuance, combined with increased repayments by both the OFC and PNFC sectors.
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 = 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.gsi.gov.uk.
Next release date: 28 January 2022