Rising rates, benchmark reform, commodity prices all affected activity
ASC, OSC give firms deadline extension on derivatives data reporting
Adoption of the new financial benchmark well underway
New study to look at the competitiveness of markets for benchmarks, credit ratings
Bankers' Acceptances, which represent 20% of money market, expected to disappear in 2024
Term CORRA to be available by Q3, but usage will be limited
Inter-dealer derivatives to begin using CORRA instead of CDOR
The BIS reported that derivatives market values and credit exposures are up sharply this year
Proposal would see final U.S. dollar setting terminated in Sept. 2024
Working group finds strong consensus in favour of term CORRA to replace CDOR