Video transcript
Simon Williams (00:05): In the past 18 months,
interest rates have become increasingly topical and relevant to
consumers, businesses and banks alike, everyone grapples with what
has been the fastest pace of interest rate hikes in modern history.
This has been punctuated by headlines of the recent Silicon Valley
Bank collapse, and in the Canadian market, we are seeing a move
from all CDOR-based products, whether loans, derivatives, or
structured finance instruments from CDOR, which is an interbank
rate, to a new risk-free rate that almost nobody has heard of
called CORRA.
This is all happening at an order of magnitude of $20 trillion
in financial instruments moving to the new rate on one day at the
end of June, next year. My name is Simon Williams. I'm counsel
in the Toronto office working in the lending structured finance and
derivatives group. In this video, I'm going to cover some of
the fundamentals of an interest rate and what goes into an
