TIMELINE - Actions to deal with the financial crisis

(Reuters) - Several prominent bankers will be grilled by MPs on Tuesday and Wednesday over the role banks played in the financial crisis.

Below are key steps Britain has taken since the beginning of the financial crisis last year:

February 17, 2008 -- The government nationalises Northern Rock, Britain's fifth largest mortgage lender, after five months of seeking a private sector buyer. The Bank of England had bailed it out in September 2007, after the credit crunch hit the bank's ability to raise cash in money markets.

April. 22 -- The Bank unveils the Special Liquidity Scheme to swap banks' risky mortgage assets for at least 50 billion pounds of government debt. It will run until the week of October 20, 2008.

September 17 -- The Bank extends the Special Liquidity Scheme to January 30, 2009.

September 17 -- Lloyds TSB Group agrees to rescue rival HBOS Plc, scooping up Britain's biggest home loan lender in an all-share deal facilitated by the government.

September 18 -- Financial Services Authority (FSA) imposes a ban on short-selling financial stocks until January 16, 2009.

September 29 -- Britain nationalises Bradford & Bingley after talks fail to find an outright buyer for the mortgage lender. The Treasury says it plans to take over B&B's 50 billion pound mortgage portfolio and sell its deposits and branches to Spanish bank Santander.

October 3 -- FSA announces it will raise the compensation limit for savings deposits to 50,000 pounds from 35,000 pounds, effective October 7.