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Thursday 17 January 2019

Scots 'yes' will hit UK credit

bad day for

An exodus of Scottish banks to England will hurt the UK credit rating, a leading analyst has warned.

Moving south of a new international border between Scotland and England would allow formerly Scottish banks to continue to have support from the Bank of England as lender of last resort.

Gary Jenkins, a bond market analyst at LNG Capital, said such moves could lead ratings agencies to come calling.

RBS have said they will move their base to England if Scots vote for independence.

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