Isolation Levels affect how long Share locks (from a SELECT) are held:
RR - All accessed rows maintain the Share Lock until a Commit or Rollback happens
RS - All accessed rows maintain the Share Lock until the current SQL statement is completed.
CS - Share Locks are released when the DB2 is finished evaluating the row (when it moves onto the next row to evaluate).
UR - No locks are taken, and locks from other applications are ignored.
For maximum concurrency, especially in a non-data warehouse database, use the default of CS.
Isolation level does not affect how long Exclusive Locks are held that are a result of an INSERT, UPDATE, or DELETE. These locks are released when a commit or rollback occurs.