BANK OF CANADA - CDOR CESSATION & THE FUTURE OF CORRA

(CORPORATE INPUT REQUIRED)

Please join AFP Edmonton on June 22nd, 2022 for this important webinar on the future of Term Rates for Canadian Debt.

Key Speakers:

• Harri Vikstedt (Senior Director Financial Markets Department, Bank of Canada, Chair CARR)
• Karl Wildi (Managing Director and Vice Chair CIBC World Markets, Co-Chair CARR)
• Elaine Wight (VP Treasurer Samuel So & Co,  CTA Co-Chair CARR working committee)
• Stacey Caney (VP Treasurer Spin Master, CTA Chair, CARR working committee)

Context:

On May 16, 2022, the administrator of the Canadian Dollar Offered Rate (CDOR) announced that it will cease the calculation and publication of CDOR on June 28, 2024. Following this announcement, the Canadian Alternative Reference Rate committee (CARR) published a consultation, seeking market feedback on whether a forward-looking Term CORRA (Canadian Overnight Repo Rate Average) is needed to replace CDOR in certain products.

The CARR consultation describes and seeks feedback on the potential need for a forward-looking Term CORRA for certain loan and hedging agreements.

• Target audience is all financial and non-financial corporations that use or reference CDOR
• CARR has not yet made final decisions on any aspect of Term CORRA and all market feedback will be fully considered.

• Without broad support from financial and non-financial corporations, the CARR may conclude that a Term CORRA is not required and overnight CORRA rates are sufficient.

The complete details of the upcoming event are as follows:   

Date: June 22, 2022

Time: 
10:00am - 11:30am MST 

Location: Webex 

Event Cost: Members - Free    Non-Members - Free

Please contact us at info@afpedmonton.com if you have any questions. 

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