RBS shares hit lowest level in 15 years

LONDON (Reuters) - Shares in Royal Bank of Scotland slumped 41 percent in late trading on Tuesday to their lowest level since late 1993 amid concerns over funding needs for the banking sector.

HBOS fell 38 percent, while Lloyds TSB and Barclays shed 10.9 and 17 percent, respectively.

Prime Minister Gordon Brown and Chancellor Alistair Darling, will hold talks on the financial crisis with the governor of the Bank of England, Mervyn King, later on Tuesday, a spokesman said.

(Reporting by Dominic Lau)