The phrase black market should not be used because it is racist, say banking leaders represented by lobby group UK Finance.

Instead the term should be replaced by illegal market as it does not need a preceding trigger warning.

FNN has learned that there are many other items on the UK Finance list of taboo terms, including:

• Nigel Farage
• De-banking
• Bankxit
• Inflation
• Money-printing
• Branch banking
• Taxpayer-owned
• Cash

A spokesperson for UK Finance told FNN:

UK banking would be much better off if none of the above terms were ever mentioned as they are opaque and simply confuse our customers. And we are all about transparency and serving our loyal customers - as long as their views are inclusive and in line with our own.

UK banking is not about bonuses. Nor gambling customer's money on the stock market and expecting bailouts to cover our losses. Nor getting free money from the Bank of England printing presses and lending it out at extortionate rates to help create debt slavery.