What Are the Typical CORRA Interest Rates of Canadian Banks?


Quick Answer

The Canadian Overnight Repo Rate Average (CORRA) is a measure of the average cost of overnight collateralized funding. From August 2014 to August 2015, the yield average fluctuated between 1.1 and 0.5, but a larger sample size from 2000-2015 showed the yield average plummeting from almost 6.0 to around 0.5

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Full Answer

The Canadian Dollar Offered Rate (CDOR) is considered Canada's second key interest rate benchmark alongside CORRA. Together, CORRA and CDOR provide a floating reference rate for all Canadian dollar transactions that take place on world financial exchanges. As of March 2015, both measures are administered, calculated and published by Thomson Reuters Benchmark Services Limited.

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