Editing Scotland (section)

=== Currency ===

{{Main|Banknotes of Scotland}}
[[File:RoyBankScotland100.jpg|thumb|Example of a [[Royal Bank of Scotland]] banknote]]
Although the [[Bank of England]] is the [[central bank]] for the UK, three Scottish [[Clearing bank (United Kingdom)|clearing banks]] issue [[Pound sterling|Sterling]] [[banknote]]s: the [[Bank of Scotland]], the [[Royal Bank of Scotland]] and the [[Clydesdale Bank]]. The Bank of Scotland was the first bank in Europe to successfully print its own paper currency, with the new banknotes entering circulation in 1696, making the Bank of Scotland the longest continuous issuer of banknotes in the world.<ref>{{cite web |title=Lloyds Banking Group - Bank of Scotland History |url=https://www.lloydsbankinggroup.com/who-we-are/our-heritage/bank-of-scotland-heritage.html |website=www.lloydsbankinggroup.com |access-date=9 February 2025}}</ref> The issuing of banknotes by [[retail bank]]s in Scotland is subject to the [[Banking Act 2009]], which repealed all earlier legislation under which banknote issuance was regulated, and the Scottish and Northern Ireland Banknote Regulations 2009.<ref>{{Cite web |date=March 2017 |title=The Bank of England's approach to regulating Scottish and Northern Ireland commercial banknotes |url=https://www.bankofengland.co.uk/-/media/boe/files/banknotes/scottish-northern-ireland/scottish-and-northern-ireland-regime-approach.pdf |access-date=31 March 2020}}</ref>

The value of the Scottish banknotes in circulation in 2013 was £3.8&nbsp;billion, underwritten by the Bank of England using funds deposited by each clearing bank, under the [[Banking Act 2009]], to cover the total value of such notes in circulation.<ref name="Banknotes">{{Cite news |title=Scottish Banknotes: The Treasury's Symbolic Hostage in the Independence Debate |work=The Guardian |url=https://www.theguardian.com/politics/scottish-independence-blog/2013/apr/22/scottish-independence-banknotes |access-date=26 May 2014}}</ref>