Market Notices

• 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).

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• 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.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• October 26, 2023

  Bank of Canada announces changes to Overnight Reverse Repo operations

  The Bank’s Overnight Reverse Repo (ORR) operations help reinforce the Bank’s target for the overnight rate in a floor system with large settlement balances.

  Content Type(s): Press, Market notices Source(s): Overnight repo and overnight reverse repo operations
• October 16, 2023

  CFIF recommends path for winding down BA market

  Bankers’ Acceptances (BAs) will no longer be issued by the major Canadian banks after the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024.

  Content Type(s): Press, Market notices Source(s): Canadian Fixed-Income Forum
• September 13, 2023

  CFIF publishes an update on the transition away from BAs

  With the cessation of the Canadian Dollar Offered Rate’s (CDOR) publication in June 2024, Bankers’ Acceptances (BA) will no longer be issued by the major Canadian banks.

  Content Type(s): Press, Market notices Source(s): Canadian Fixed-Income Forum
• 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.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• August 28, 2023

  Debt Management Strategy Consultations – 2024-25

  The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2024-25 and beyond.

  Content Type(s): Press, Market notices
• 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.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• 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.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• July 31, 2023

  CFEC Releases Results of April 2023 Foreign Exchange Volume Survey

  The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2023 semi-annual survey of foreign exchange volumes in Canada.

  Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee