In a Treasury Select Committee grilling today, major ratings agencies were accused of failing to make clear their ratings were not an indication investors should buy a security.
Northern Rock's rate of borrowing has slowed considerably to just £500m this week, according to the latest balance sheet figures from the Bank of England.
Barclays Bank has denied rumours in the City that it faces a $10bn writedown after trading in its shares was suspended earlier today.
The Bank of England's Monetary Policy Committee (MPC) has voted to maintain interest rates at their current level of 5.75%.
Future Mortgages, the specialist lending arm of Citigroup, has decided to restrict lending to 90% LTV on secured loan applications.
The Treasury Select Committee is to re-interview Mervyn King, Alistair Darling and Callum McCarthy over the banking crisis which led to the near collapse of Northern Rock.
Mortgage business volumes are expected to be depressed slightly through the first half of 2008, according to the Intermediary Mortgage Lenders Association (IMLA).
The Governor of the Bank of England, Mervyn King, says it was right not to intervene too early in the UK banking crisis, which resulted in Northern Rock borrowing over £20bn of public money.
Northern Rock's emergency funding line has now reached around £23bn, according to the latest balance sheet figures from the Bank of England.
Kensington Mortgages has announced it will be making around 65 redundancies in the wake of the credit crisis.