CARR Document
August 29, 2023
CARR Document
August 02, 2023
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.