On 10 April 2019, there was published in the Official Journal of the EU:

• Commission Delegated Regulation (EU) 2019/564 of 28 March 2019 amending Delegated Regulation (EU) 2016/2251 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council as regards the date until which counterparties may continue to apply their risk-management procedures for certain OTC derivative contracts not cleared by a CCP. The Commission Delegated Regulation exempts OTC derivatives contracts that are being novated from a UK counterparty to an EU27 counterparty from EMIR margin obligations for a period of 12 months; and
• Commission Delegated Regulation (EU) 2019/565 of 28 March 2019 amending Delegated Regulation (EU) 2015/2205, Delegated Regulation (EU) 2016/592 and Delegated Regulation (EU) 2016/1178 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council as regards the date at which the clearing obligation takes effect for certain types of contract. The Commission Delegated Regulation exempts OTC derivatives contracts that are being novated from a UK counterparty to an EU27 counterparty from EMIR clearing obligations for a period of 12 months.

Both Delegated Regulations apply from the date that the Treaties cease to apply to the UK. They will not apply if the Withdrawal Agreement enters into force or the Article 50 process has been extended beyond 31 December 2019.