Carney: RBS might have to leave independent Scotland

Governor of the Bank of England Mark Carney has warned that there is a "distinct possibility" that the Royal Bank of Scotland would have to move outside of Scotland in the event of a vote for independence.

Speaking to MPs on the Treasury select committee, Mr Carney said European laws require banks to have their head offices in the same member state as their registered offices. Asked if RBS would have to move to the remaining UK if voters backed independence, he said:

It's a distinct possibility but I shouldn't prejudge it.

It depends on their arrangements as well, if they were to adjust more into Scotland the minor management of the institution.

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Carney: RBS might have to leave independent Scotland

The Bank of England Governor Mark Carney has warned that there is a "distinct possibility" that the Royal Bank of Scotland would have to move its headquarters outside of Scotland if a referendum in September goes in favour of independence.