Worried savers have continued to flock to some Northern Rock bank branches to withdraw their savings, following similar scenes over the weekend.
Bank boss Adam Applegarth said people could withdraw money and that it was "business as usual", while Chancellor Alistair Darling appealed for calm.
About £2bn has been withdrawn since Thursday, when the bank applied to the Bank of England for emergency funds.
In early afternoon trade on Monday Northern Rock shares were down by 40%.
Shares in fellow mortgage banks also suffered, with Alliance & Leicester down 18% and Bradford & Bingley down 8%.
Hmmmm, i know id wanna get my cash out of there asap, I dont see why they are appealing for calm, how can they expect people to remain calm, if they go under, people with money invested (ie. savers) in the bank stand to lose it all! And as with all these siutations, the government won't protect the consumer, but want the consumer to remain calm... BBC News Report