On 2 June 2020, ISDA, the European Banking Federation and FIA wrote to the European Commission (EC) and the European Securities and Markets Authority asking the EC both to expedite equivalence decisions relating to EMIR Article 13 and to extend a derogation from the clearing obligation for cross-border intragroup transactions by a further three years (for transactions where one entity is in a jurisdiction that has not yet been found equivalent). The derogation is set to expire on 21 December 2020. This follows a similar letter (sent on April 30) to the EC and European Supervisory Authorities regarding the expiry of the intragroup derogation regarding cross-border intragroup transactions in contracts that are not subject to the clearing obligation.