A Treasury source told the BBC that it had discussed the plans with Royal Bank of Scotland.

Lloyds Banking Group also said it could shift some of its business from Scotland, after customers contacted it for clarification on their finances.However, the banking group said it was just a legal procedure and “there would be no immediate changes or issues.

RBS, which employs 11,500 people in Scotland, has not yet issued a statement – although there are widespread reports that the bank will clarify the details later in the day.

Yesterday insurance and pensions giant Standard Life said it was “planning for new regulated companies in England to which we could transfer parts of our business if there was a need to do so”.

Expect plenty more fall-out should the Yes vote become reality

The Beeb has more here