Media Report :  A media report stating that one of the UK banks Bradford & Bingley is soon going to be nationlised. "Officials from the Treasury and the  Financial Services Authority (FSA) have been in talks with executives from the bank in a bid to secure its future," BBC said.

On Friday , stock quoting to his lowest rates on History . Bradford & Bingley has seen erosion of its share price over 90 per cent this year and it is down more than 60 percent since the beginning of the month. The bank has high dependence on expensive wholesale funding raising doubts over its prospects as an independent lender.

Quoting Bradford & Bingley spokesman Tony McGarahan, BBC said discussions were taking place and an announcement would be made before the stock market opened tomorrow. Bradford & Bingley would be the second British bank to be nationalised this year after Northern Rock, which came into public ownership in February.

BBC said the bank would be nationalised using the special legislation the Treasury had put through when it took Northern Rock into public ownership earlier this year. The measure is expected be announced on Sunday night or Monday morning.

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