Shares in British banks were broadly down on the FTSE 100 in morning trading ahead of a meeting of the U.S. Federal Reserve.

Investors appeared to be feeling cautious ahead of the meeting which is expected to provide clues as to what actions the central bank will or will not be taking to aid the U.S. economy.

Banking shares were also no doubt hampered by ongoing concern about Greece, which increasingly looks likely to default.

By 09:45 shares in Lloyds Banking Group were up 0.63 per cent to 47.61 pence per share.

However RBS shares dropped 0.82 per cent to 38.60 pence per share, Barclays shares were down 0.75 per cent to 256.95 pence per share and HSBC shares fell 0.69 per cent to 604.80 pence per share.

Overall the FTSE 100 was down 0.08 per cent to 5,770.47.

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