Shares in British banks were broadly up on the FTSE 100 in morning trading after news from the Federal Reserve in the US and from Standard Chartered in Britain.

Yesterday minutes from the Federal Reserve revealed that the US central bank is seriously considering printing more money in order to boost economic growth.

Meanwhile Asia focused bank Standard Chartered said this morning that it would be conducting a £3.3 billion rights issue in order to comply with new Basel III rules on capital.

Banks are not required to comply with Basel III until 2019, however Standard Chartered has decided to take action early.

By 09:55 shares in Lloyds Banking Group were up 1.02 per cent to 73.39 pence per share, RBS shares rose 0.74 per cent to 47.95 pence per share and HSBC shares increased 0.42 per cent to 666.00 pence per share.

However Barclays shares fell 3.32 per cent to 284.95 pence per share while Standard Chartered shares declined 1.44 per cent to 1,881.00 pence per share.

Overall the FTSE 100 was up 1.21 per cent to 5,730.06.