Gordon Brown may create a financial emergency committee as part of the limited reshuffle expected shortly, according to reports.
Media reports suggest the committee would be modelled on the Cobra emergency committee which addresses civil crises like foot-and-mouth, the London terror attacks of 2005 and last summer's floods.
But Downing Street remains tight-lipped about the proposals. A spokesperson refused to comment on either the financial emergency committee or rumours of a reshuffle.
It is widely expected any shakeup will not be a drastic one. Foreign secretary David Miliband will probably be left with the international portfolio to keep him on the sidelines, while Alistair Darling is set to remain at the Treasury given the current crisis.
Other senior ministers like Alan Johnson have made clear they wish to continue in their current roles, meaning it is only junior posts that will be shaken up.
Transport secretary Ruth Kelly will leave her post, however. She announced at the Labour party conference in Manchester last week her plans to stand down "for family reasons" after the prime minister's leader's speech.