The Commission has adopted a Delegated Regulation on RTS for the clearing obligation under the European Market Infrastructure Regulation (EMIR). The delegated act determines the classes of the credit default swaps (CDS) over-the-counter (OTC) derivative contracts that are subject to the clearing obligation and four different categories of counterparties for which different phase-in periods apply over three years after the RTS enter into force. Some counterparties need to determine their categorisation by reference to the three months following the publication of the delegated act on the clearing obligation for Interest Rate Swaps (IRS). However, the Commission notes the counterparties subject to the Delegated Regulation may not clear IRS and says the start date of the frontloading requirement takes into account the need for them to establish the category they belong to. It also lays down the minimum remaining maturities for the purposes of the frontloading requirement as well as the dates on which the frontloading should start. (Source:Commission makes EMIR clearing obligation Delegated Regulation)