A ban on risky trading activities by large British banks could be needed to stop them taking advantage of UK government support, MPs said today.

Details began to emerge today of the deal to save the ailing mortgage lender Bradford & Bingley.

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

Shareholders of beleaguered Northern Rock were facing up to more heavy losses today after the company admitted rescue plans for the group were “materially below” the company’s current value.