Money | financial crisis UK Props Up Major Banks; Fed Offers Cash Moves to shore up financial system have global markets rising By Jim O'Neill Posted Oct 13, 2008 7:08 AM CDT Copied British Prime Minister Gordon Brown, right, speaks to French President Nicolas Sarkozy, left, on Sunday, Oct. 12, 2008. (AP Photo/Charles Platiau, Pool) Governments across the globe are acting with “an enormous amount of congruence” and speed as they pour billions of dollars into rescue plans hoping to keep a sinking banking system afloat, reports the Wall Street Journal. The British government today provided $60 billion to prop up 3 banks, and the US Fed announced a massive infusion of cash into European markets. Global markets haven risen sharply on the news. The Brits are providing $34 billion to the Royal Bank of Scotland and another $29 billion to Lloyds TSB and HBOS. Germany, meanwhile, said it might nationalize some banks; Australia and the United Arab Emirates said they were guaranteeing bank deposits; and France and Italy planned announcements later today. Read These Next New Fox star, 23, misses first day after car troubles. Iran's supreme leader makes first public comments since ceasefire. Man accused of killing his daughters might be dead. Her blood isn't compatible with anyone else's. Report an error