G7 discussing bank support measures: source

WASHINGTON (Reuters) - Finance ministers and officials from the Group of Seven rich countries are discussing common principles on bank rescues ahead of a meeting on Friday, according to a European source.

Officials, who spoke on condition of anonymity, said discussion was focusing on whether a joint statement would be issued declaring that no bank of systemic importance would be allowed to fail.

Negotiations were also addressing whether the declaration would say that governments were ready to step in to take stakes in troubled banks.

Discussion was also focusing on measures to help the interbank lending market but there was so far no agreement on what form that might take, they said.

Measures taken by the British government would not be adopted wholesale across other countries because of the differing circumstances in each country, the officials said.