UK banking giants 'in funding row'

UK banking giants Barclays and HSBC were today at the centre of a row over an emergency funding request from the Bank of England after HSBC reportedly denied forcing its rival into the red.

HSBC is understood to be angered at reports suggesting it is being accused by Barclays of missing a scheduled payment, causing Barclays to tap into the Bank of England’s crisis fund for a £314m (€463m) loan on Monday night.