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ARTICLE · 04 SEPTEMBER 2023

Interest Rates Watch: Examining CDOR-CORRA Spreads

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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 announced that the Canadian Overnight Repo Rate Average (CORRA) term rate (Term CORRA) will be launched on September 5, 2023. Term CORRA has been designed to serve as an alternative benchmark to the Canadian Dollar Offered Rate (CDOR), which will no longer be published following a final publication on June 28, 2024. Term CORRA will be offered initially in one- and three-month tenors.

In advance of Term CORRA's official launch date, CanDeal Benchmark Administration Services Inc. has published a beta version of Term CORRA. While the beta version of Term CORRA is undergoing final testing before its official release on September 5, 2023, the beta version of Term CORRA provides some insight on

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