The Bank of England has imposed a permanent news blackout on its £50bn-plus plan to ease the credit crunch.
Requests under the Freedom of Information Act are to be denied. Details will be kept secret even after 30 years – the period after which all but the most sensitive state documents are released.
Any Bank of England employee leaking the names of institutions involved will face court action for breach of contract.
Even a figure for the overall amount advanced will not be published until October. Meanwhile the Bank is expected to issue at least £50bn of Treasury bills to banks in exchange for their mortgages – entirely in secret.