UK poised to unveil bank rescue plan: report
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LONDON (Reuters) - Britain's government is poised to announce a "comprehensive" rescue package for the banking system, the BBC reported on Tuesday, including the possibility of injecting capital into banks.
"It will be big, it is the government's attempt to stabilize the banking system," BBC economics correspondent Robert Peston reported. "The Treasury has been working on the plan for weeks."
The plan is said to include provision for a stand-by facility that would effectively ensure that no banks would be able to run out of cash, he said.
Sky Television said the plan would be unveiled on Wednesday morning.
Prime Minister Gordon Brown, the chancellor, Alistair Darling, and the governor of the Bank of England, Mervyn King, held talks on the financial crisis on Tuesday evening.
(Reporting by Luke Baker; Editing by Jodie Ginsberg)
