Well they would redomicile, wouldn’t they?
FT Alphaville » ELA 2014-09-11
Summary:
Cross-posted from Lex Live — Lex’s new, free, blog. Lex has also been writing notes this week on the consequences of independence for sovereign debt, banks, and Scotland’s oil industry…
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Or, why it isn’t surprising at all that RBS and Lloyds would move their respective holding companies to the UK, probably overnight, if Scotland voted to become independent. Despite the odd packaging of this as NEWS by the UK press.
It’s the emergency liquidity (or ELA). Click chart to enlarge:
