TIMELINE - Britain's banks strapped for cash

(Reuters) - Lloyds Banking Group launched a record 13.5 billion pound rights issue and along with rival Royal Bank of Scotland has agreed to sell off some businesses to appease EU competition concerns over state aid.

Here is a timeline on banks in Britain since Northern Rock was nationalised.

February 21, 2008 - Britain passes legislation allowing the government to nationalise Northern Rock after rejecting two private bids. Northern Rock is nationalised months after the Bank of England stepped in to provide support.

April 21 - The BoE unveils the Special Liquidity Scheme to swap banks' risky mortgage assets for at least 50 billion pounds of government debt.

September 18 - Lloyds rescues Britain's biggest mortgage lender HBOS Plc in a $22 billion (13.5 billion pound) takeover with the government sweeping aside competition rules to ease the deal through.

September 29 - Bradford & Bingley, the country's ninth-biggest mortgage lender, is nationalised. The Treasury said it would take over B&B's 50 billion pound mortgage portfolio and sell its deposits and branches to Spanish bank Santander.

October 13 - The government bails out three major banks - Royal Bank of Scotland, Lloyds TSB, and HBOS with a 37 billion-pound cash injection aimed at strengthening their capital reserves in the face of the credit crunch.

October 17 - Britain is forced to pump 20 billion pounds into RBS to shore up its capital position. Stephen Hester appointed to replace Fred Goodwin as chief executive.

October 31 - Barclay's raises 7.3 billion pounds mostly from Abu Dhabi and Qatar to repair damage from the global financial crisis.