Use Cases for Term CORRA

CARR Document
August 29, 2023

Notice regarding Term CORRA Rates published on March 1 2024

CBAS Document
April 26, 2024

Term CORRA Analysis – Raising Awareness of Level 1 and Level 2 Rates

CBAS Document
July 03, 2024

Quarterly update on errors impacting Term CORRA

CBAS Document
November 07, 2024

CDOR Transition FAQs

CARR Document
July 10, 2024
Benchmark Administration
Approved uses for Term CORRA Not approved uses for Term CORRA
  • Business loans (as defined in the Annex)
  • Single currency derivatives for lenders, borrowers and guarantors hedging Term CORRA based loans¹
  • Cross-currency derivatives for borrowers hedging Term CORRA based loans
  • Inter-dealer trading of CORRA-Term CORRA basis swaps, with certain limitations

All other uses of Term CORRA, including but not limited to:

  • Consumer loans
  • Floating rate notes
  • Securitizations
  • Capital securities
  • Structured notes
  • Derivative uses not explicitly identified as eligible
  • Fallback rates for any of the products listed above

¹ Lenders can hedge their Term CORRA loan exposure internally with their own dealer or with external dealers.

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Holiday Schedule

The Term CORRA benchmark follows the IIAC Debt Market Closure Schedule holiday calendar.
Data will not be calculated on those holidays.

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