How will B&B be rescued?
The position on B&B this morning remains as per my note of yesterday afternoon.
In other words, the Treasury and the Financial Services Authority are trying to organise a rescue - but are some way from a decision about what that rescue would be. As I pointed out, any takeover by another bank or banks of B&B (which could involve breaking the business up) will probably need some kind of financial support from taxpayers.
Full nationalisation, which could well include merging B&B with Northern Rock, is very much a last option - not impossible, but the final resort if all else fails.
There are two ways of looking at a merger of B&B with the Rock.
In theory, it could be a sensible way of using taxpayers' money to create a new force in retail banking that could one day be returned to the private sector. And there would be substantial efficiency benefits from eliminating duplicated overheads.
The other way to view such a merger would be as a potentially huge headache for all of us, in that we as taxpayers could end up owning one very big bad bank, generating horrible losses on mortgage lending made at the height of the credit bubble.
Which is why it makes sense for the Treasury and the FSA to attempt to spread the financial risk with a private-sector bank or banks - although in the current climate of fear in banking markets, a solution involving the private sector may turn out to be impossible.
For the avoidance of doubt, officials from the Treasury and the Financial Services Authority, and executives from Bradford & Bingley, are working this weekend to find a way to put the bank on a more stable footing.
A decision on B&B's future may well be made by the chancellor and the prime minister by Sunday night, before markets open on Monday morning.
One option which I haven't so far mentioned would be to take B&B into public ownership and then immediately - or almost immediately - sell on some of its assets to a private sector bank.
But as of today, the preferred option has not been identified - although it's clear that taxpayers' money will have to be deployed in some way.