April 30, 2024
Market notices, Press releases, Canadian Alternative Reference Rate Working Group
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April 15, 2024
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. -
November 30, 2023
CARR amends recommended fallback for CDOR NHA MBS, and publishes a guide for Canadian companies transitioning from CDOR
In 2021, CARR published “Recommended fallback language for FRNs referencing CDOR” which recommended that CDOR-linked floating rate notes (FRNs), including floating rate NHA MBS, fall back from CDOR to a CORRA fallback rate (“Fallback Rate (CORRA)” as defined in the document). -
November 16, 2023
CARR publishes recommended conventions for Term CORRA swaps
Today, the Canadian Alternative Reference Rate working group (CARR) published two recommended conventions for interest rate swaps referencing Term CORRA. -
August 29, 2023
CARR finalizes the allowed uses for Term CORRA
Today, the Canadian Alternative Reference Rate working group (CARR) finalized its guidance on the allowable use cases for Term CORRA. -
August 10, 2023
Term CORRA to be launched on September 5, 2023
In January, CARR announced the development of a Term CORRA benchmark that was designed to be a robust benchmark that adheres to IOSCO’s Principles for Financial Benchmarks. -
August 2, 2023
CARR begins publishing CDOR transition related FAQs
Today, the Canadian Alternative Reference Rate working group (CARR) begun publishing a set of frequently asked questions (FAQs) on its website to provide clarity on various aspects of the CDOR transition. -
July 27, 2023
CARR publishes its recommendations for transitioning loans from CDOR to CORRA and provides a “no new CDOR or BA loan” milestone
Today, the Canadian Alternative Reference Rate working group (CARR) published a set of documents that will help support the transition of the Canadian loan market from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA). -
June 30, 2023
CARR releases its recommendations for legacy securities tied to CDOR
Today, the Canadian Alternative Reference Rate working group (CARR) published its paper on legacy securities linked to CDOR (i.e. securities referencing CDOR that mature after CDOR’s cessation). -
June 9, 2023
CDOR Transition – Implications for transactions as stage 1 ends and stage 2 begins
The first stage of CARR’s two-staged transition plan will be completed on June 30, 2023. Market participants are expected to have transitioned all new derivative (bilateral, cleared and exchange traded) and securities transactions to CORRA benchmarks, with limited exceptions, after June 30, 2023.