King to meet with banking bosses

The banks are likely to tell King he needs to do more to reassure creditors that the Bank of England will help if needed. The banking industry is likely to ask the Bank of England to guarantee finance to any UK lender that suffers a cash shortage. The news comes a day after the FSA warned that malicious rumours about the stability of the UK banking system were being used to make money from share dealing. The problem caused shares in HBOS, one of the UK’s biggest banking groups, to fall by as much as 17% on Wednesday. If you would like to comment on this story, contact: John Bakie ...