RBS biggest victim of bank turmoil

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.

RBS was down 40% at one point - with big falls for HBOS, Barclays and Lloyds TSB - following crisis talks with Chancellor Alistair Darling on Monday night.

But in an attempt to calm market nerves, RBS said: "Contrary to press speculation, RBS did not make a request to Government for capital."

Meanwhile, Iceland nationalised its second-biggest bank Landsbanki - leaving UK savers in limbo as its Icesave online website was frozen.

The wider FTSE 100 Index was 2% higher after Monday's 7.8% slump - the biggest since Black Monday in October 1987 - as commodities bounced back slightly from the fall and oil prices rose.

But attention was firmly focused on banks, with RBS - also downgraded by investment ratings agency Standard & Poor's - later down 22% after its denial.

The bank's stock slumped after Sir Fred Goodwin and his rival bosses at Barclays and Lloyds TSB met Chancellor Alistair Darling on Monday night - with a possible capital injection for the sector reportedly on the agenda. The concerns caused a fresh spike in money markets as fearful banks refused to lend to each other.

Meanwhile, New York mayor Michael Bloomberg said that international leaders must work together to tackle the global financial crisis.

After breakfast talks with Prime Minister Gordon Brown in Downing Street, Mr Bloomberg criticised the unilateral actions of some governments.

Referring to Mr Brown, the New York mayor said: "He's got a tough road to hoe, representing the UK, representing Europe, representing the world. All of these leaders have to work together. This is a crisis that no one country can solve on their own."