NS&I provisional Q2 2014-15 results

  • Q2 2014-15 Net Financing of £2.2 billion
  • Latest 2014-15 Net Financing forecast: £13.5 billion against a target of £13 billion (+/-£2 billion)

NS&I today published its un-audited quarterly results for the second quarter (July-September 2014) of the financial year 2014-15.

NS&I delivered £2.2 billion of Net Financing in Q2 2014-15, giving a year-to-date total of £4.4 billion. The Autumn Statement confirmed that the latest NS&I Net Financing forecast for 2014-15 is £13.5 billion – within NS&I’s full year target of £13 billion in a range of £11 billion to £15 billion.

NS&I’s latest quarterly Value Indicator figure was £139 million, giving a half year total of £318 million. NS&I’s target for 2014-15 is to deliver positive value, excluding the cost of the special issue of savings bonds for people aged 65 and over.

Quarterly figures

Qtr / year Gross inflows C&AIP* Gross outflows Net Financing Total stock Value Indicator
Q2 2014-15(un-audited) 5.6 0.4 3.8 2.2 110.0 0.1
Q1 2014-15(un-audited) 5.2 0.6 3.6 2.2 107.8 0.2
2013-14 16.4 2.1 15.1 3.4 105.6 0.3
2012-13 11.7 2.3 14.7 -0.7 102.2 -0.2
2011-12 18.3 2.4 16.7 4.0 102.9 0.4
2010-11 15.3 2.6 17.8 0.1 98.9 0.8
2009-10 18.1 1.9 18.4 1.6 98.8 1.4

*C&AIP is capitalised and accrued interest and prizes earned.

All figures are in £ billion (rounded). 2014-15 figures are unaudited and subject to change due to late transaction processing (evidence of identity), cancellation and any accounting adjustments.

NS&I reports quarterly on gross inflows and outflows, Net Financing and total stock. Each quarter, NS&I release these unaudited figures and publishes the Annual Report and audited accounts each financial year.

Notes to Editors

  1. Autumn Statement 2014 document (see page 94-95).
  2. NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to more than 25 million customers. All products offer 100% capital security, because NS&I is backed by HM Treasury.
  3. Net Financing – the measure of the net change of NS&I funds, meaning total inflows from deposits, retention of maturing monies and capitalised and accrued interest, less the total outflows from withdrawals and interest or Premium Bonds prize draw payments. A positive Net Financing figure represents a positive contribution to government financing.
  4. Value Indicator – an indication of NS&I’s cost-effectiveness in raising finance for the Government. It compares the total cost of delivering Net Financing and servicing existing customers’ deposits with how much it would cost the Government to raise funds through the wholesale market via equivalent maturity gilts.
  5. For further information, or to request an interview, please contact the NS&I media team.