The First Minister said that divulging market sensitive information to the press ahead of an official announcement was "as serious a matter as you can possibly get". Mr Salmond brought to light during an interview today that a "Treasury source" had told journalists on Wednesday night that the bank, which employs a 11,500 people in Scotland, would be re-registering its base in London if there is a Yes vote next week. This report was intended to be released today and not last night. Leaking information into the public domain before the markets open is as severe as it gets and is against the law. The reason being that market sensitive information released before stock market trading begins has the potential to cause a companies stock price to crash or destabilise the stock offering of a company or even currency. The Americans call such a practice "insider trading". He said the rules were quite clear and the details should not have been leaked ahead of the official announcement after the markets opened at 7am on Thursday morning. What makes the entire situation even worse is that it challenges the impartiality of the BBC considering this information was leaked and indeed was used by the BBC as an anti-independence tool - they branded it as RBS ARE LEAVING SCOTLAND which is in a word - tosh! They are not leaving Scotland - theyare re-registering addresses. The fact is that this is being reported as more than it actually is. Banks are no longer national in presence. While they may have a registered head office in a particular country, it makes no difference to the actual business and indeed no difference to the corporation tax they pay in that country. Mr Salmond claimed the moves were part of a political campaign by the UK Government and said they would have no impact on jobs or the corporation tax Scotland might receive and we agree with him. You see, corporation tax is paid based on the business you have in a particular country and it does not matter where you are headquartered. What we would also say is that RBS are not actually moving their business - they are moving or should we say opening a head office in London. This is standard practice. After next week they will be operating in 2 countries. It makes sense that they have two offices. One in Edinburgh and one in London. RBS ARE NOT MOVING THEIR BUSINESS - ONLY THEIR HEAD OFFICE. It is important that we make this distinction clear. Moving the business south of the Border would be suicide - moving a head office is just that - moving a registered address from one building to another - moving the business however means closing down an entire business in Scotland and closing down all accounts in the same country. The latter of the two is financial suicide. That would be effectively cutting themselves off from millions of customers and of course those customers would not stay with a bank if they couldn't access a local branch. Instead they would go and join other banks who would then need to expand to cope with the extra influx. That would create new jobs and plug the gap left by a bank that walked off in the huff. The only group to be hurt by closing the bank in Scotland completely would be RBS itself. Customers would just be transfered to another bank and indeed the law has provisions for doing such a thing. They would be classified as a bank about to fail in Scotland and customers investments would therefore be protected under law and transferred to another bank. But remember one important thing. RBS is 80% owned by the taxpayer. That means that Scotland owns about 8% of RBS. So if RBS were to leave we would be entitled to that money back. Considering the fact that RBS has been doing miserably in their recovery. Having that balance come due would probably mean the collapse of the bank. All these factors prevent RBS from actually moving their bank entirely. Be clear - all they are doing is moving their Head Office address from one existing RBS building in Edinburgh to an existing building in London. But everyone should be clear & there should be no ambiguity on this. Better Together and Westminster are liars. There is no such thing as a Scottish Bank. Banks are based where the stock exchange and most of the transactions are done - That is London city at the minute. RBS do more trading in a day in London than they do in a year in Scotland. Therefore you cannot in good conscience classify RBS as a Scottish bank in anything other than name and address.



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