Earlier this year, the Bank of Canada became the administrator of the Canadian Overnight Repo Rate Average (CORRA) and since June has published this Canadian interest rate benchmark on its website using an improved methodology. The CORRA Advisory Group (CAG) has now been established to advise the Bank’s CORRA Oversight Committee on any potential adjustments to the CORRA methodology, stemming from changes in repo market functioning and from any emerging methodology issues.
The Group consists of members representing a wide range of market participants with expertise in the Canadian repo market and CORRA-related financial instruments.
CAG’s terms of reference and its list of members will be published on the group’s website, along with documents pertaining to meetings, including agendas and minutes.
The Bank is committed to ensuring that CORRA is a robust, reliable and representative measure of the secured overnight funding rate.
Market inquiries:
Operations and Policy Advisor
Financial Markets Department
Bank of Canada
613‑782‑7172
Media inquiries:
Bank of Canada
613‑782‑8782
Source(s):
CORRA Advisory Group