Why did Yes name themselves Yes?

Legend has it that their guitarist, Peter Banks, came up with the name.  It was short and very positive.  

Here, this is brilliant history!  Peter also came up with the Yes logo:

Because it's a big improvement over Mabel Greer's Toyshop.

I once read that they were named after a certain bubble from the Yellow Submarine cartoon. Had no doubt about it. Never watched the whole cartoon, though - never witnessed the existence of that bubble.

As a sidenote, I can only re-repeat the story that already told it in this forum at least twice. When I was like 15 or so years old I sure dreamt of creating own legendary cult megapopular rock band. At the time my favourite fruit was orange, favourite digit - nine. I've noticed that Ninth Orange gives NO (I've just gotten to know about the band Yes and so found the coincidence very interesting). The funniest thing happened to me like fifteen years later when I have realized that when translated in Russian, my native language, Ninth Orange becomes Devyaty Apelsin - DA, that is YES in Russian...