Canadian Dollar Offered Rate

From Open Risk Manual
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Canadian Dollar Offered Rate. A daily interbank offered rate based on the trimmed arithmetic average of the rates at which CDOR submitters would be willing to lend funds for specific terms-to-maturity against the primary market issuance of Banker's Acceptances to clients with existing credit facilities that reference CDOR (i.e. bid-side rates of the primary BA market)

CDOR submitters are banks that are issuers and, directly or through an affiliate, market makers in banker's acceptances in Canada. CDOR is published daily at 10:15 am by Reuters.OSFI will be responsible for supervising the effectiveness of governance and risk controls surrounding banks' CDOR submission processes.NOTE: CDOR is also used to establish the floating benchmark rate for Canadian dollar floating rate notes and interest rate swaps, as well as for calculating the final settlement price for BAX futures contracts traded on the Montreal Exchange.

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