Northern Rock is to be sold rather than remutualised or floated on the stock market, the Chancellor said last night.
Mervyn King has claimed low capital requirements and inadequate limits on leverage have been the most "tragic" aspects of financial regulation.
Shares in major UK banks have fallen following reports Chancellor George Osborne will force lenders to ring-fence their retail arms.
Three major French banks could have their credit ratings cut by Moody's because of their exposure to Greek debt.
Commodities giant Glencore today said it is not mulling a bid for peer ENRC.
Two of the banking industry's biggest names were paid more than fifteen times their 2009 earnings last year, analysis suggests.
The government is set to force banks to ring-fence their retail operations from investment banking.
Australian, Norwegian and Canadian government bonds are the new safe haven for bond investors, Ariel Bezalel, manager of Jupiter's £418m Strategic Bond fund, has said.
US markets reversed falls on Monday after a period of consecutive weak sessions fuelled by concerns over the end of quantitative easing.