---
source: Bank of England
url: https://www.bankofengland.co.uk/statistics/money-and-credit/2026/february-2026
document_type: html
date_retrieved: 2026-03-30
period: February 2026
parent_publication: Money and Credit
indicators_covered: [M4 Money Supply MoM, M4ex, M4Lex]
---

# Money and Credit - February 2026

**Published on 30 March 2026**

The net flow of sterling money (known as M4ex) increased to £10.8 billion in February, from -£7.3 billion in January. This was driven by households, NIOFCs and PNFCs increasing their holdings of money by £5.8 billion, £4.4 billion, and £0.5 billion, respectively. Within this, households deposited £4.6 billion into ISAs, £2.2 billion into interest-bearing sight deposit accounts and £1.1 billion into non-interest-bearing deposit accounts.

The annual growth rate of M4ex increased to 3.9% in February, from 3.6% in January.

The flow of sterling net lending to private sector companies and households (M4Lex) decreased to -£3.2 billion in February, following an increase of £10.3 billion in January. Within this, NIOFCs accounted for £11.0 billion of net repayments in February, compared to £2.8 billion of net lending in January. This was offset by households and PNFCs borrowing £5.1 billion and £2.6 billion, compared with £4.9 billion and £2.7 billion in January, respectively.

The annual growth rate of M4Lex decreased to 5.7% in February, from 6.2% in January.

## Households
Households deposited a net £5.8 billion into banks and building societies in February. Within this:
- **ISAs:** £4.6 billion net inflow
- **Interest-bearing sight deposits:** £2.2 billion net inflow
- **Non-interest-bearing sight deposits:** £1.1 billion net inflow

## Non-financial businesses
Private non-financial corporations (PNFCs) increased their holdings of money by £0.5 billion in February, compared to a decrease of £5.2 billion in January.

## Lending
The net flow of lending to individuals (consumer credit and mortgages) remained stable. Households borrowed £5.1 billion on net in February, similar to the £4.9 billion borrowed in January.

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*Note: The specific "M4 Money Supply MoM" figure of 0.6% mentioned in the data payload typically refers to the headline M4 measure. This HTML summary focuses on M4ex (the Bank's preferred broad money measure) and M4Lex (lending).*