Banks are drawing up plans to move abroad if the UK leaves the European Union, the governor of the Bank of England Mark Carney has warned.
Mr Carney also said that the move would trigger "profound economic shock".
The Bank has announced that it will provide unlimited funds to prevent markets seizing up in the event of a Leave vote.
But Mr Carney faced accusations that of pro-EU propaganda beneath the dignity of his office from eurosceptics.
The row came as a leading cabinet minister suggested that Nicola Sturgeon's support was as damaging to the remain campaign as the backing of Sinn Fein's Gerry Adams.
Culture Secretary John Whittingdale, a eurosceptic, also claimed that problems with broadband north of the Border were because of the EU.
He told a lunch for journalists at Westminster: “I am not sure that necessarily the Remainers would be that thrilled if Gerry Adams and Nicola Sturgeon were given platforms for arguing their case for staying in."
He also rejected claims a Brexit would trigger another Scottish independence vote.
He said: “The political party that is dominant in Scotland wants a second referendum.. .They will continue to call for one whether British votes in or out".
He added: “We are a United Kingdom. They have to accept the result of (the EU referendum).
“If Britain votes to leave or stay in that is a decision taken by the British people.”
And he suggested that the EU was frustrating Scottish broadband customers.
“We are not able to support Scottish investment in broadband at the moment because we did not meet the deadline imposed by the EU and therefore we have not got state aid clearance,” he said
Mr Whittingdale, of the six Cabinet ministers who is backing an Out vote, also attacked David Cameron 'Project Fear' claims about the EU saying forecasts of “'Armageddon'” were wrong and dangerous.
Earlier Mr Carney described the prospect of a Brexit as the 'biggest domestic risk' facing the UK economy.
Mr Carney also suggested that Boris Johnson's declaration for the Out campaign could have driven a fall in the pound.
Earlier the London mayor had been forced into a humiliating U-turn on the EU after it emerged that staff at City Hall were told not to disagree with him on the issue in public.
Mr Johnson has been vocal in recent days about claims that No 10 are trying to clamp down on those who disagree with them.
Mr Carney also told MPs on the Treasury Select Committee that leaving the EU would create a 'profound economic shock'.
But euroscptic Tory MP Jacob Rees-Mogg accused him of "speculative" pro-EU claims that were were "beneath the dignity of his office".
Asked about the economic warnings, Mr Whittingdale said: “This country is the sixth biggest economy in the world, we sit on the G7, we have a seat on the UN Secruity Council - we are able to prosper outside the EU and in many ways we would be liberated to do things that we are prevented from at the present time.
'Our prospects are in my view better. I think we can enjoy the continuing benefits of having access to Europe, free trade through a new arrangement but we'll be able to look outwards.
'Yesterday I attended the Korea-UK creative industries forum. There is a country that is growing fast, where we have a great deal in common and where the export opportunities are immense.
'We should not just be focussed on Europe. The real opportunities lie outside Europe and that is why I believe this country should be seeking to take advantage of.'
'There is a very strong view that Europe is heading in the wrong direction and that Britain doesn't share the ambitions of the rest of the European continent and that we would be better outside.'
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