Changes to the Bank of Canada’s role with respect to the Canadian Overnight Repo Rate Average (CORRA)

As announced by the Investment Industry Association of Canada and the Canadian Bankers Association on 31 December 2014, Thomson Reuters Benchmark Services Limited (“Thomson Reuters”), a subsidiary of Thomson Reuters Corporation, will become the administrator, calculation agent and publication agent for the Canadian Overnight Repo Rate Average (CORRA), effective 30 March 2015. Hence, from that date, the Bank of Canada will no longer be responsible for calculating and publishing CORRA. However, in order to provide a smooth transition for CORRA users, the Bank of Canada will continue to publish the CORRA rate, as calculated by Thomson Reuters, shortly after 9:00 a.m. ET until 30 June 2015, after which time, the Bank will publish CORRA only on a delayed basis at the end of the day.

For further information, please contact:

Director
Data and Statistics Office
Bank of Canada
613 782-7771

Bank of Canada
613 782-8782