Capital Issuance - June 2026

Key points

Gross capital issuance by UK residents was £81.2 billion in June, compared to £78.1 billion in May and the previous six-month average of £66.9 billion (Chart 1).

Net capital issuance was £14.3 billion in June, compared to £7.8 billion in May and the previous six-month average of £3.4 billion (Chart 1).

The £6.4 billion increase in net capital issuance was driven by a £3.1 billion increase in gross issuance, combined with a £3.3 billion decrease 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 £81.2 billion in June, compared to £78.1 billion in May and the previous six-month average of £66.9 billion (Chart 1).

Net issuance was £14.3 billion in June, compared to £7.8 billion in May and the previous six-month average of £3.4 billion (Chart 1).

Year to date gross issuance was £443.3 billion, £48.4 billion higher than at the same point the previous year (Chart 2). This is £110.4 billion higher than the previous four-year average.

Year to date net issuance was £50.0 billion, £18.0 billion higher than at the same point the previous year (Chart 3). This is £32.2 billion higher than the previous four-year average.

Bond issuance

Gross bond issuance was £51.3 billion in June, compared to £45.9 billion in May and the previous six-month average of £34.4 billion (Chart 4).

Net bond issuance was £17.9 billion in June, compared to £13.2 billion in May and the previous six-month average of £4.1 billion (Chart 4).

The increase in net issuance was driven by an increase in gross issuance of £5.3 billion by the OFC sector.

Commercial paper issuance

Gross commercial paper issuance was £29.6 billion in June, compared to £31.2 billion in May and the previous six-month average of £32.2 billion (Chart 5).

Net commercial paper issuance was -£0.8 billion in June, compared to -£3.0 billion in May and the previous six-month average of £2.5 billion (Chart 5).

The increase in net issuance was driven by a decrease in gross repayments of £5.4 billion by the MFI sector, which offset the £1.5bn decrease in gross commercial paper issuance.

Equity issuance

Gross equity issuance was £0.4 billion in June, compared to £1.0 billion in May and the previous six-month average of £0.4 billion (Chart 6).

Net equity issuance was -£2.9 billion in June, compared to -£2.4 billion in May and the previous six-month average of -£3.2 billion (Chart 6).

The decrease in net issuance was driven by a decrease in gross issuance of £0.5 billion by the PNFC 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: 27 August 2026