Capital Issuance - September 2026

Key points

Gross capital issuance by UK residents was £76.5 billion in September, compared to £57.2 billion in August and the previous six-month average of £74.5 billion (Chart 1).

Net issuance was -£1.8 billion in September, compared to £3.0 billion in August and the previous six-month average of £5.1 billion (Chart 1).

The £4.8 billion decrease in net capital issuance reflected a £19.3 billion increase in gross issuance, alongside a £24.0 billion increase 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 £76.5 billion in September, compared to £57.2 billion in August and the previous six-month average of £74.5 billion (Chart 1).

Net issuance was -£1.8 billion in September, compared to £3.0 billion in August and the previous six-month average of £5.1 billion (Chart 1).

Year to date gross issuance was £662.4 billion, £88.8 billion higher than at the same point the previous year (Chart 2). This is £161.2 billion higher than the previous four-year average.

Year to date net issuance was £62.5 billion, £39.5 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 £32.2 billion in September, compared to £27.3 billion in August and the previous six-month average of £39.8 billion (Chart 4).

Net bond issuance was -£0.3 billion in September, compared to £6.4 billion in August and the previous six-month average of £7.4 billion (Chart 4).

The decrease in net issuance was driven by a £7.8 billion increase in gross repayments by the MFI sector.

Commercial paper issuance

Gross commercial paper issuance was £43.6 billion in September, compared to £29.2 billion in August and the previous six-month average of £34.1 billion (Chart 5).

Net commercial paper issuance was £4.2 billion in September, compared to £0.4 billion in August and the previous six-month average of £0.7 billion (Chart 5).

The increase in net issuance was driven by a £12.2 billion increase in gross issuance by the MFI sector.

Equity issuance

Gross equity issuance was £0.6 billion in September, compared to £0.7 billion in August and the previous six-month average of £0.5 billion (Chart 6).

Net equity issuance was -£5.7 billion in September, compared to -£3.8 billion in August and the previous six-month average of -£3.0 billion (Chart 6).

The decrease in net issuance was driven by an increase in gross buybacks of £1.2 billion by the OFC 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: 26 November 2026