EU inks softer version of cross-border banking ban

Post-Brexit capital rules may allow Mifid activities, but corporate lending faces restrictions

Cross-border-banking ban softened by EU montage

European Union legislators are set to allow foreign dealers to continue using offshore balance sheets for trading financial instruments with clients inside the bloc. But they will not be allowed to provide those clients with corporate loans or deposits, under new rules agreed last week.

“We think there is now a potential danger that some EU corporates will find it more difficult to access lending from outside of the EU,” says Arved Kolle, a director at the Association for Financial Markets in

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