FTSE 100 is now down 4.87% on the day, after having slipped as much 5.39% earlier. HBOS has been leading the bank stock slump, down 36% on the session at 11.00GMT . HBOS is more sensitive to intrabank market disruptions as it relies more heavily than other British banks on wholesale market funding. Meanwhile, Barclays and Royal Bank of Scotland shares had fallen by 19% and 14% respectively by 11.00GMT.
