Yorkshire Bank took place in the bank's heartland and many miners were customers, having been encouraged by the National Coal Board to have their pay mandated to a bank account. In 1990, the National Australia Bank Group acquired the bank from the consortium of owning banks which, after mergers and acquisitions, were the National Westminster Bank, (holders of 40%), Barclays Bank (32%), Lloyds Bank (20%), and Royal Bank of Scotland (8%). The price paid was £1 billion and the bank joined National Australia Bank's other European businesses, Clydesdale Bank (Scotland) and Northern Bank (which operated in both jurisdictions in Ireland). In May
The Royal Bank of Scotland £50 note banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. Though strictly not legal tender in Scotland, Scottish banknotes are nevertheless legal currency and are generally accepted throughout the United Kingdom. Scottish banknotes are fully backed such that holders have the same level of protection as those holding genuine Bank of England notes. The £50 note is currently the second largest denomination of banknote issued by The Royal Bank of Scotland. The current Ilay series of banknotes was first issued in 1987, although it did not originally include the