RBS And Lloyds Plan Scotland Exit

Royal Bank of Scotland and Lloyds Banking Group will register themselves in England if Scotland votes for independence in next week's referendum.

Lloyds Banking Group, which includes Halifax and Bank of Scotland, said last night it has plans in place to set up new "legal entities'' in England if the Yes campaign is victorious.

Royal Bank of Scotland, which has been based in Scotland since 1727, followed suit today by saying that it would be necessary to re-domicile the Bank's holding company and its main operating entity to England.

RBS said the decision to re-domicile should have no impact on everyday banking services and that it would retain a significant level of its operations and employment in Scotland.

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