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Britain opens drop-in centre for would be banks

The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren

LONDON (Reuters) - Entrepreneurs who want to open a bank in Britain can call a new helpline to chat about how much capital they need, and get invitations to rub shoulders with supervisors.

The Financial Conduct Authority and the Bank of England's Prudential Regulation Authority (PRA) said on Wednesday they had opened a New Bank Start-up Unit to give information and support to newly-authorised banks and people thinking of setting up a bank.

The government is keen for new banks to enter a market where consumer banking is dominated by a handful of lenders such as HSBC, Barclays, Lloyds, RBS and Santander UK.

Regulators have already made changes, such as easing the initial capital burden and fast-tracking approval of a new bank's top officials, leading to 12 new lenders authorised since 2013 with more in the pipeline.

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"With the launch of the New Bank Start-up Unit, applicants will now benefit from having a single place where they can get the advice and guidance they need to start a new bank and support once they are authorised," Bank of England Deputy Governor and PRA Chief Executive, Andrew Bailey, said in a statement.

New banks will benefit from access to a helpline, meetings with supervisors, regulator capital reviews, monthly updates by email, and invitations to seminars on regulatory topics.

(Reporting by Huw Jones; Editing by Mark Potter)