Lloyds Banking Group and Royal Bank of Scotland, the UK's two part-nationalised banks, will today outline moves to raise a combined £54bn ($88bn) in fresh funding, despite claims that the worst of the financial crisis is over.

Lloyds' money will come from commercial investors in the form of a £13.5bn rights issue and £7.5bn issue of innovative bonds. But RBS will rely on the government, with a new £8bn "contingent equity" component to be disclosed alongside the planned £25bn capital injection.