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Canadian interest rate benchmark
We are the official administrator and calculator of the Canadian Dollar Offered Rate (CDOR).
CDOR Cessation Notice (May 16, 2022) - announcing the cessation of the CDOR benchmark in June 2024
Please refer to the Cessation Notice and the Consultation Outcome Statement under Useful Links below
Our Canadian interest rate benchmark
We are the provider of choice and administrator for the official benchmark representing interest rates charged by Canadian banks for short-term loans.
We were appointed by a joint committee of the Canadian Bankers Association and the Investment Industry Association of Canada to calculate, distribute and administer the Canadian Dollar Offered Rate (CDOR), a Canadian bankers’ acceptance rate that is essential to the Canadian banking and financial system.
Their selection of Refinitiv is a testament to our global reputation as a trusted, independent, unbiased provider of accurate and current pricing and reference data for a wide range of assets and geographies.
Our Canadian interest rate benchmark is administered by Refinitiv Benchmarks Services (UK) Limited (‘RBSL’).
RBSL complies with the Canadian Securities Administrators’ benchmark rule in the administration of CDOR.
Useful links
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CDOR Cessation Notice
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CDOR Consultation Outcome Statement
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CDOR Independent Reasonable Assurance Report for the year ended 20 January 2023
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CDOR Independent Limited Assurance Report as at 20 January 2022
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Update on CDOR Consultation
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Consultation on potential cessation of CDOR
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Refinitiv Response to CARR White Paper
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CORRA transition to Bank of Canada useful information
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Methodology
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Contributor Code of Conduct
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Benchmark Statements
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CDOR Oversight Committee
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CDOR Disclaimer
Announcement
Refinitiv Responds to White Paper by the Canadian Alternative Reference Rate Working Group Regarding CDOR
TORONTO / NEW YORK / LONDON, December 16, 2021 – Refinitiv acknowledges and responds to the white paper issued today by the Canadian Alternative Reference Rate Working Group (CARR)¹ regarding the future of the Canadian Dollar Offered Rate (CDOR) benchmark. Refinitiv has been engaged with CARR and is fully informed on their review of CDOR. Read the press release
Press Release: Refinitiv designated benchmark administrator for the Canadian Dollar Offered Rate as of 15th September 2021
Ontario Securities Commission and Autorité des marchés financiers announce Refinitiv as the designated benchmark administrator for the Canadian Dollar Offered Rate. Read the press release
Reminder: Calculation and publication of the 6-month and 12-month CDOR tenors ceased from Monday 17 May 2021 onwards.
The last day of publication for the 6-month and 12-month CDOR tenors was Friday 14 May 2021. The 1-month, 2-month and 3-month tenors were not affected by this action. Please see the November 2020 announcement by Refinitiv for further details. A related Canadian Securities Administrators (CSA) staff notice and a related ISDA notice are available.
Features & benefits
What you get with our Canadian interest rate benchmarks
The rate at which banks are willing to lend to companies.
Data at the time of publication up to, but not including, 4pm ET on the day.
Embargoed data is free of charge and made available from 4pm ET.
How it works
Canadian Dollar Offered Rate (CDOR) in more detail
Canadian Dollar Offered Rate (CDOR)
CDOR is the recognized financial benchmark in Canada for bankers’ acceptances (BAs). It is the rate at which banks are willing to lend to companies. We determine CDOR daily from a survey of bid-side rates provided by 6 principal market-makers, including the major Canadian banks.
Real-time rate access to CDOR
Real-time data is defined as data at the time of publication up to, but not including, 4pm ET on the day. To access the Canadian Dollar Offered Rate (CDOR), users will need to enter into a licensing agreement.
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