Details of the U.K. govenments’ £50 bln rescue package have been duly released. It will make extra capital available to 8 of U.K’s largest banks and building societies. In return the government will receive preference shares in those institutions. A further £200 bln will be made available by the BOE for short-term borrowing to provide liquidity to banks and building societies. The Treasury said other banks would be able to apply for inclusion in the plan. There will be strings attached to the deal, including restrictions on executive pay and dividends for other shareholders. Cable is at 1.7560 at writing.