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ARTICLE · 14 MAY 2024

Interest Rates Watch: Carr Releases New Guidance On Cdor Transition

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Welcome back to our Interest Rates Watch series, developed to provide timely updates and practical advice on developments related to interest rates and benchmarks on a regular basis. As always, we are here to help.

CanadaFinance and Banking
Jennifer Wasylyk
Jennifer Wasylyk
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Welcome back to our Interest Rates Watch series, developed to provide timely updates and practical advice on developments related to interest rates and benchmarks on a regular basis. As always, we are here to help.

The Canadian Alternative Reference Rate Working Group (CARR) has published new information1 relating to the transition of loans, derivatives, and cash securities referencing the Canadian Dollar Offered Rate (CDOR) or bankers acceptances (BAs). CDOR will cease to be published after June 28, 2024 and, accordingly, market participants that have financial contracts referencing CDOR or BAs must transition these contracts to the Canadian Overnight Repo Rate Average (CORRA), Term CORRA, or another alternative reference rate in advance of that date.

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