Clearly, the areas of the UK government that supervise the financial system believe that the invisible hand works best when there are secrets.
This directly contradicts Econ 101 where students are taught that a necessary requirement for the invisible hand to work properly is that buyers know what they are buying. How could a buyer of a bank's securities have all the useful, relevant information so that they could assess the riskiness of the bank and know what they are buying if the bank is part of a covert operation?
Where the Chancellor directs the Bank to conduct a support operation, either to the financial system as a whole or to one or more individual firms, the Bank will act as the Treasury’s agent.
The Bank will set up a Special Purpose Vehicle (SPV), separate from the Bank’s balance sheet, to effect the support operation.
The Bank and the Vehicle will be indemnified by the Treasury.
Where the Treasury has determined that the operation needs to be carried out covertly, the Bank will execute the operation in a way which best ensures that the existence of the operation does not become public.