Capital Issuance - August 2026

Key points

Gross capital issuance by UK residents was £57.2 billion in August, compared to £84.4 billion in July and the previous six-month average of £76.3 billion (Chart 1).

Net issuance was £3.0 billion in August, compared to £10.1 billion in July and the previous six-month average of £7.3 billion (Chart 1).

The £7.2 billion decrease in net capital issuance reflected a £27.1 billion fall in gross issuance, alongside a £20.0 billion reduction in gross repayments.

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 £57.2 billion in August, compared to £84.4 billion in July and the previous six-month average of £76.3 billion (Chart 1).

Net issuance was £3.0 billion in August, compared to £10.1 billion in July and the previous six-month average of £7.3 billion (Chart 1).

Year to date gross issuance was £586.0 billion, £69.9 billion higher than at the same point the previous year (Chart 2). This is £142.7 billion higher than the previous four-year average.

Year to date net issuance was £64.2 billion, £36.5 billion higher than at the same point the previous year (Chart 3). This is £43.3 billion higher than the previous four-year average.

Bond issuance

Gross bond issuance was £27.3 billion in August, compared to £44.2 billion in July and the previous six-month average of £41.4 billion (Chart 4).

Net bond issuance was £6.4 billion in August, compared to £10.7 billion in July and the previous six-month average of £9.1 billion (Chart 4).

The decrease in net issuance was driven by a £11.1 billion and £6.9 billion decrease in gross issuance by the MFI and OFC sectors respectively.

Commercial paper issuance

Gross commercial paper issuance was £29.2 billion in August, compared to £40.0 billion in July and the previous six-month average of £34.5 billion (Chart 5).

Net commercial paper issuance was £0.4 billion in August, compared to £0.8 billion in July and the previous six-month average of £1.1 billion (Chart 5).

The decrease in net issuance was driven by reduced net issuance in both the MFI and OFC sectors.

Equity issuance

Gross equity issuance was £0.7 billion in August, compared to £0.1 billion in July and the previous six-month average of £0.4 billion (Chart 6).

Net equity issuance was -£3.8 billion in August, compared to -£1.4 billion in July and the previous six-month average of -£2.8 billion (Chart 6).

The decrease in net issuance was driven by an increase in gross buybacks of £1.0 billion and £2.0 billion by the OFC and PNFC sectors respectively.

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 2026