The EU Council has agreed to extend certain exemptions for commodity dealers under the CRR. The CRR exempts commodity dealers from large exposure requirements and from own funds requirements until 31 December 2017. The Council has agreed to extend the exemptions until 31 December 2020 to protect commodity dealers from an unstable regulatory environment in the short term. Applying large exposure requirements and own funds requirements to commodity dealers should not come as the result of a lapsed exemption, the Council considered, but on the basis of a thoroughly reasoned decision. The proposed Regulation will now be submitted to the European Parliament for approval at first reading, and then to the Council for adoption.