Type of Resource
Policy Paper
Length (Pages, words, minutes etc...)
10pp
Alternative Published Date
2020
Category
Fast Facts
A Scottish central bank will need to be set up to oversee the creation of a new Scottish currency. It will be the competent authority providing regulatory oversight of the banking system.
More details
Several concurrent activities would then follow to deliver the new banking system:
- Issuing Scottish banking licences and creating a commercial banking system;
- Setting up a Scottish Payments System.
- Creating a Scottish Universal Bank Account for all people in Scotland to provide the resilience that is missing in the UK banking system
Scottish Independence Convention (SIC) Transition Paper No.4 Banking
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