Barclays on Tuesday confirmed that it was in talks with Lehman Brothers to buy some of the US banks’ assets. If a deal comes to fruition it is likely to be tied up rapidly, possibly by later in the day.

The UK bank – which on Sunday walked away from a deal to buy the whole of Lehman Brothers – said any acquisition would have to be on terms “attractive to Barclays’ shareholders.” Lehman Brothers’ holding company filed for bankruptcy on Monday.