UK firms will have to commit to suspend dividend payments and “exercise restraint” on senior pay if they borrow money under the government’s coronavirus support schemes for larger businesses — and the names of blue-chips who do so will be made public.

Companies taking on larger loans under two schemes, the Coronavirus Large Business Interruption Loan Scheme and the Covid Corporate Financing Facility, must also agree to restrictions on share buybacks, and cash bonuses or awards on any pay rises to senior management, the Treasury and Bank of England said in statements updating the schemes on 19 May.