Lloyds Banking Group and RBS have both confirmed that they will relocate their registered offices to London if Scots vote for independence.

Lloyds in a statement said it has plans in place which include "the establishment of new principal legal entities in England."

While the scale of potential change is currently unclear, such plans were a legal procedure and will incur no immediate changes or issues affecting customers, the statement said.

"There will be a period between the referendum and the implementation of separation that we believe should be sufficient to take any necessary action. As a group, we are committed to supporting our customers across Scotland and the rest of the UK," it added.

A spokesperson at RBS said that the bank has decided that it would be necessary to re-domicile its holding company and operating entity to England in the event of independence.

The announcement was welcomed by the UK government, which owns 25% of Lloyds and 81% of RBS.

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RBS and Lloyds employ 12,000 and 16,000 people respectively in Scotland.