Delegated regulation delaying Category 3 counterparties’ clearing start date
Published: 17 March 2017
On 16 March, the European Commission adopted a delegated regulation that will delay the EMIR clearing start date for counterparties that fall within Category 3 i.e., Financial Counterparties and AIFs that are Non-financial Counterparties above the clearing threshold.
The delegated regulation now passes to the European Parliament and Council for a 3 month objection period. Once approved, this will mean that the clearing obligation will take effect on 21 June 2019 for all products that are subject to mandatory clearing under EMIR, namely interest rate swaps in G4 and other EEA currencies, as well as European index CDS.
If members have any questions or comments, please contact Adam Jacobs, Oliver Robinson or Adele Rentsch.
