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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).

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.

Deputy Governor Paul Beaudry discusses the latest interest rate decision and suggests reasons why longer-term interest rates could remain higher than they were before the pandemic.

Speaking a day after we raised interest rates, Deputy Governor Paul Beaudry talks about what Governing Council considered in its decision. He also suggests reasons why long-term interest rates could remain higher than they were before the COVID-19 pandemic.

The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.

TMX Group Limited and Clearstream Banking S.A. announced plans to launch a Canadian Collateral Management Service (CCMS) later this year.

The Bank of Canada Museum is inviting children to visit a new exhibition that is inspired by questions they have about money. Money in 10 Questions: Kids Edition is a play-based experience that helps children understand money and how to handle it. The exhibit opens to the public on May 25 and includes special activities for families.

The Bank of Canada Museum is honouring two outstanding educators for their exceptional work in teaching students about the economy.