Thursday, March 20, 2008
UK Banking System Looks a bit Wobbly
Bank of England governor Mervyn King is today meeting the heads of the country's five biggest banks - including HBOS, whose shares slumped yesterday after a series of false rumours spread by speculators swept through the stock market. HBOS will be joined at the meeting in Threadneedle Street by the other "Big Five" banks - HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB. The bank chiefs are expected to call on King to pump more money into the financial system to ensure that banks cannot be brought down by a liquidity crisis.