Challenger banks explained in under 60 seconds

Labour leader Ed Miliband is expected to flesh out details on Friday of a proposal made last year to force the big High Street banks to sell off branches, the BBC understands.

He wants to promote the growth of new banks that could challenge the "big five" banks - Royal Bank of Scotland, HSBC, Lloyds, Barclays, and Santander.

The BBC's Simon Gompertz what is meant by "challenger banks".

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