Chancellor to make B&B statement

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Top-level talks over ailing lender Bradford & Bingley are continuing amid reports the bank faces imminent nationalisation.

B&B is in discussions with the so-called Tripartite Authority - the Treasury, Financial Services Authority and the Bank of England - over the potential bail-out as the bank is buffeted by the credit crunch.

The Treasury would only say that discussions were "ongoing", although an announcement could come later or early Monday morning before the Stock Exchange opens.

The BBC, which reported the nationalisation late on Saturday night, said B&B will be sold on almost immediately to another bank or banks.

However it was clear that the bank was set to become the latest victim of the global credit crunch which has paralysed the world financial system.

According to the BBC, the Government will nationalise B&B using the special legislation passed to take Northern Rock into public ownership earlier this year.

Treasury Chief Secretary Yvette Cooper told BBC1's Politics Show: "Negotiations are still under way at the moment."

"There have been concerns for some time about the Bradford and Bingley business model and the position they have got themselves into.

"We have been very clear that the priority is to make sure that depositors, that ordinary savers will be properly protected, but also that we can support the stability of the banking system as a whole."