In a move aimed to recapitalise banks, Gordon Brown announced he would inject billions of pounds into the markets, according to the Financial Times.
Alistair Darling, chancellor of the Exchequer, announced the full details of the plan this morning. It includes lending 250 billion to ailing banks most likely in return for dividend shares.
The seven biggest banks in the UK are at the top of the lending list, though other financial institutions are likely to apply.