Publication of the Canadian dollar offered rate (CDOR), Canada’s primary interest rate benchmark, should end after June 2024, the working group helping to transition Canadian financial markets to risk-free benchmark interest rates said on Thursday.
The Canadian Alternative Reference Rate working group (CARR) recommends that Refinitiv Benchmark Services (UK) Limited (RBSL), the administrator of CDOR, cease publication of all of the interest rate benchmark’s remaining tenors after June 30, 2024
….
The decision to cease using CDOR ultimately lies solely with RBSL. CARR proposes a two-staged approach to the transition from CDOR.
The first stage would run until June 30, 2023, when the working group would expect all new derivative contracts and securities to have transitioned to using CORRA. That date is also when all remaining U.S. dollar Libor tenors are due to cease.
The second stage to June 30, 2024, would provide firms with additional time to transition their loan agreements and deal with potential issues.
Further questions
What's your question? Ask it in the discussion forum
Have an answer to the questions below? Post it here or in the forum
A proposal to give up search and user data faces long odds but still raises the stakes for the company.
After US federal prosecutors charged Gautam Adani and several associates with fraud, media coverage in India has ranged from dryly factual to over-the-top in its defensiveness, revealing a divide over how to appraise bribery accusations against one of the nation’s richest businessmen.
As artificial wave pools proliferate around the world, surf park developers aim to go green to counter criticism over energy and water use.