Regulators have confirmed the “historical median approach” as the recommended fallback spread adjustment methodology for lending and derivatives products. It is based on the median spot spread between CDOR and CORRA calculated over a five-year lookback period prior to the relevant cessation announcement. The industry has developed and finalized this fixed spread adjustment as of May 16, 2022 for CDOR. These spreads are available through Bloomberg Index Services Limited (“Bloomberg”) for derivatives and Refinitiv for lending products.