Canadian Overnight Repo Rate Average (CORRA)
What is CORRA? The Canadian Overnight Repo Rate Average (CORRA) is Canada’s primary risk-free interest rate benchmark. It reflects the cost of overnight borrowing through repurchase agreements (repos) secured by Government of Canada securities. In June 2024, CORRA officially replaced the Canadian Dollar Offered Rate (CDOR) as Canada’s main reference rate for derivatives and other…