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UK watchdog scrutinizing Co-Op Bank's financial accounts

LONDON (Reuters) - Britain's accounting watchdog said on Friday it was scrutinizing the accounts of Co-operative Bank (CPBB.L) but has yet to open a formal investigation.

"We are making enquiries into the Co-Op's financial reporting in accordance with our normal procedures... and if we commence a formal investigation we will announce that via a press announcement," the Financial Reporting Council said in a statement.

The bank is audited by KPMG, one of the world's "Big Four" accountancy firms. KPMG was not immediately available for comment.

(Reporting by Huw Jones, editing by Matt Scuffham)