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. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
April 25, 2023 Canadian derivatives market hits milestone in transition from CDOR to CORRA For two consecutive weeks, the majority of maturity-weighted notional volume in cleared Canadian dollar interest rate derivatives has been priced using CORRA instead of CDOR. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
March 28, 2023 CARR publishes impact assessment checklist for market participants with CDOR exposure The Canadian Alternative Reference Rate working group (CARR) today published an impact assessment checklist to help firms assess and mitigate their exposures to the Canadian Dollar Offered Rate (CDOR). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
January 11, 2023 CARR announces development of a Term CORRA benchmark The announcement today confirms that efforts are underway to develop a 1- and 3-month Term CORRA benchmark with the objective of making such benchmarks available for use by the end of Q3-2023. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
January 11, 2023 CARR and TMX launch webcast series on the transition from CDOR CARR is pleased to announce the launch of a series of CDOR Transition Webcasts, developed in partnership with TMX. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
December 15, 2022 CARR’s CORRA-first initiatives for derivatives to begin on January 9 - update The Canadian Alternative Reference Rate working group (CARR) has been laying the groundwork to ensure a smooth transition of financial products referencing the Canadian Dollar Offered Rate (CDOR). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
October 7, 2022 CARR agrees to begin process of developing Term CORRA benchmark On May 16, 2022 CARR launched a public consultation on whether there was a need for a forward-looking Term CORRA benchmark to replace CDOR in certain types of loan facilities. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
August 3, 2022 CARR publishes recommended fallback language for CDOR-based loans The Canadian Alternative Reference Rate working group (CARR) today published recommended fallback language for new and existing loan agreements where the interest rate benchmark is the Canadian Dollar Offered Rate (CDOR). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
June 14, 2022 CARR extends Term CORRA consultation deadline to 30 June Reflecting a number of requests for additional time to respond to CARR’s Term CORRA consultation, CARR will now accept comments until June 30, 2022. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
May 16, 2022 CARR welcomes RBSL’s decision to cease the publication of CDOR after June 28, 2024 Today, Refinitiv Benchmark Services (UK) Limited (RBSL), CDOR’s regulated administrator, announced the cessation of the publication of CDOR after June 28, 2024. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group