Big five banks to meet with BoE

Senior executives of the big five UK banks expected to meet with governor of the Bank of England, today to discuss aid for financial markets.

HSBC, Lloyds TSB, HBOS, Barclays and Royal Bank of Scotland are meeting with Mervyn King to discuss the provision of additional financial help to reassure markets.

Speculation suggests the banks want King to guarantee funding from the BoE if a bank suffers a cash shortage.