No, as per my knolwedge, you can have reference from one table.
Also, if you are looking for existince of records in both A & B you can add two foreign key constraints on same column by defining constraints at table level. but you ar elooking at A or B you can write a trigger to work as constraint ( before statement trigger) and verify the existence from A and Btables .
IMHO the data model for a common column for 3 different tables (Y, A and B) doesn't look so nice.
I would prefer to merge data from Y, A and B into one table, maybe by adding a new column to distinguish the type of row if you need.
Just think when you have to draw relationship diagram: you will have one column which is referring to 3 different tables. Also in case you have to look up for parent data reading child table you might have to check up to 3 different tables. Is it good?