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CDOR and CORRA interest rates

Canada interest rate benchmarks

We are the official administrator and calculator of two key bankers' acceptance rates: Canadian Dollar Offered Rate (CDOR) and Canadian Overnight Repo Rate Average (CORRA).

Our Canada interest rate benchmarks

We are the provider of choice for the official benchmark interest rates charged by Canadian banks for short-term collateralized 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 two Canadian bankers’ acceptance rates that are essential to the Canadian banking and financial system.

Their selection 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.

Canada interest rate benchmarks is administered by TRBSL.

Features & benefits

What you get with our Canadian interest rate benchmarks

Canadian Dollar Offered Rate (CDOR)

The rate at which banks are willing to lend to companies.

Canadian Overnight Repo Rate Average (CORRA)

Widely used as the reference for overnight indexed swaps and related futures.

Real-time rates

Data at the time of publication up to, but not including, 4pm ET on the day.

Embargoed rates

Embargoed data is free of charge and made available from 4pm ET.

How it works

Canadian interest rate benchmarks in more detail

Canadian Dollar Offered Rate (CDOR)

CDOR is the recognized financial benchmark in Canada for bankers’ acceptances (BAs) with a term of maturity of 1 year or less. 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 7 principal market-makers, including the major Canadian banks.

Canadian Overnight Repo Rate Average (CORRA)

CORRA is a measure of the average cost of overnight collateralized funding, and is widely used as the reference for overnight indexed swaps and related futures. CORRA is set as the volume weighted average rate of overnight repo transactions, conducted on-screen through designated inter-dealer brokers, which involve general Government of Canada collateral.

Real-time rates

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), and Canadian Overnight Repo Rate Average (CORRA), users will need to enter into a licensing agreement.