Market Chatter: UK, US Banks Reportedly Plan to Use EU Exemption to Continue Cross-border Lending

07:43 AM EST, 11/12/2026 (MT Newswires) -- Some banks based in the UK and US reportedly plan to continue their lending activities within the European Union from their home countries by relying on an exemption in the bloc's new cross-border rules, Reuters reported Thursday, citing three lawyers and two industry sources. The so-called reverse solicitation exemption allows foreign banks to lend to EU clients if they approached the banks voluntarily, according to the report. Beginning in January 2027, the EU's new rules under its CRD VI directive will require banks outside the EU to have an authorized branch or subsidiary in the bloc to continue providing certain banking services to EU clients, with the rules applying to loans entered into from July 2026. US banks Huntington and PNC, as well as Britain's Lloyds Banking Group (LLOY.L), do not have EU units, Reuters noted, while HSBC (HSBA.L), NatWest Group (NWG.L), and Goldman Sachs already have subsidiaries in the bloc. The banks did not immediately respond to MT Newswires' requests for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)