Commentary
The End of CDOR – A Roadmap to Discontinuation for Canadian Securitizations
ABCP, Auto, RMBSSummary
On May 16, 2022, the administrator of the Canadian Dollar Offered Rate (CDOR), announced that the calculation and publication of all tenors of CDOR will permanently cease immediately following a final publication on Friday, June 28, 2024. However, prior to the permanent cessation date, there are several interim milestones of relevance to market participants.
In this Commentary, DBRS Morningstar counts down to the end of CDOR, reviewing the impact of the cessation on Canadian securitization transactions and discussing the risks associated with moving away from CDOR.
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