Change theme
Change theme

CARR to begin publishing data on the transition of CDOR based loans to CORRA

To facilitate the monitoring of the transition away from CDOR based loans to CORRA and Term CORRA, CARR will publish a monthly report on the aggregated outstanding amount of CDOR loans that have not transitioned to other benchmarks, as well as the volume of new loans, including any transitioned loans, referencing CORRA and/or Term CORRA. The report will also show the value of OTC derivatives transacted that reference Term CORRA.

Banks will no longer issue CDOR or Bankers’ Acceptances (BAs) based loans following the cessation of the publication of CDOR after June 28, 2024.

To help market participants track the transition away from BAs in Canadian money markets, CARR will also publish on behalf of CFIF a monthly report showing trading volumes of BAs. Trading volumes are used as a proxy for issuance to gauge the progress of the transition to lower BA issuance volumes. The report also provides indicative pricing information data on BAs.

About CARR

Canada established CARR, a working group sponsored by the Canadian Fixed-Income Forum, to coordinate Canadian interest rate benchmark reform. CARR’s mission is to ensure Canada’s interest rate benchmark regime is robust, resilient and effective in the years ahead. Over the coming transition period, CARR will support the transition from CDOR to CORRA as the key Canadian interest-rate benchmark.

Visit CARR’s webpage for up-to-date information on the transition, including all of CARR’s key documents, and to sign-up to receive email updates from CARR.

Market inquiries

CARR co-chair
Senior Policy Director
Financial Markets Department
Bank of Canada

CARR co-chair
Managing Director and Vice Chair
CIBC Capital Markets

Media inquiries

Media Relations
Bank of Canada