Project Fear is like clock-work in bringing up the subject of the Royal Bank of Scotland, and asserting
that the bank will leave Scotland at the first hint of Independence.
Firstly, we need to understand what is meant by The Royal Bank of Scotland.
Secondly, we need to realise that the many component banks in the group are all legally separate
and distinct companies. They have their own banking licences and file their own annual accounts.
Thirdly, the Project Fear line is that the Royal Bank is simply too big for Scotland to be able to
regulate and support if in financial difficulties
Fourthly, it is worth noting the Bank has cash assets of £26.5 billion. Most of this is on deposit at the
Bank of England in what is called the Reserve Account.
Finally, could the Royal Bank leave Scotland? The answer is a definitive NO. That is because almost
all of its business and branches are in Scotland