The Commodity Futures Trading Commission approved expanding its mandatory clearing requirement to certain new categories of interest rate swaps. These new categories are fixed-to-floating IRS and forward rate agreements denominated in certain enumerated foreign currencies; basis swaps denominated in Australian dollars; and overnight index swaps denominated in Australian and Canadian dollars and overnight index swaps enumerated in US and certain foreign currencies with up to three years’ termination dates. The clearing requirement for these products will be phased in over a maximum of two years depending on equivalent phase-in schedules in non-US jurisdictions.