Shares in British banks were mixed on the FTSE 100 in morning trading following a report that further bank bailouts may be needed.
Today the New Economics Foundation said that British banks may need another bailout in 2011 as their borrowing requirements could rise to £25 billion per month.
Lloyds Banking Group and RBS, which are still substantially owned by the taxpayer following earlier bailouts saw their shares fall. Barclays and HBC however avoided bailouts and saw their shares perform slightly better.
By 10:50 shares in Lloyds Banking Group were down 0.14 per cent to 73.40 pence per share, RBS shares declined 0.21 per cent to 47.57 pence per share.
However Barclays shares were flat at 299.75 pence per share, while HSBC shares rose 0.08 per cent to 654.10 pence per share.
Overall the FTSE 100 was down 0.53 per cent to 5,563.13.