Regulatory Alerts2024-06-06
CSA Multilateral Staff Notice 25-312: Reminder of Cessation of CDOR on June 28, 2024
Staff of the Ontario Securities Commission, Autorité des marchés financiers, British Columbia Securities Commission, and Alberta Securities Commission issue this notice to remind market participants that the Canadian Dollar Offered Rate will cease publication after June 28, 2024. The regulators emphasize that entities with securities, derivatives, or loan agreements referencing CDOR that extend beyond this date must immediately adopt appropriate transition arrangements, including robust fallback language specifying a replacement rate. This reminder follows previous guidance from the Canadian Securities Administrators and the Canadian Alternative Reference Rate working group to ensure market readiness for the benchmark's discontinuation.
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