However - U.K. Says It Has No Plans to Nationalize More Banks

LONDON -- U.K. Prime Minister Gordon Brown rejected suggestions Wednesday that his government is aiming to privatize more U.K. banks.

Meanwhile, banking shares had another turbulent day, underscoring investors' concerns about their stability two days after the government announced a second bank-rescue plan. Sterling also continued its slide, hitting a 13-year low.

Rather than reassure markets, the giant new bailout plan announced Monday by the prime minister has underscored the depth of the crisis faced in one of the world's largest financial centers. Some investors, and politicians, say Britain could end up fully nationalizing more of its banks.