SEC Info - Canadian Imperial Bank of Commerce/CAN - ‘40-F’ for 10/31/18

Canadian Imperial Bank of Commerce/CAN – ‘40-F’ for 10/31/18 – ‘R25’

On: Thursday, 11/29/18, at 7:22am ET · For: 10/31/18 · Accession #: 1193125-18-337149 · File #: 1-14678

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/29/18 Canadian Imperial B… Commerce/CAN 40-F 10/31/18 279:56M Donnelley … Solutions/FA

Document/Exhibit Description Pages Size 1: 40-F Registration Statement or Annual Report by a HTML 108K Canadian Issuer 10: EX-99.B.10 Principal Accountant Fees and Services HTML 84K 11: EX-99.B.12 Tabular Disclosure of Contractual Obligations HTML 140K 2: EX-99.B.3(A) Annual Information Form HTML 292K 3: EX-99.B.3(B) Audited Consolidated Financial Statements for HTML 3.18M the Year Ended October 31, 2018 4: EX-99.B.3(C) Management's Discussion and Analysis HTML 2.99M 5: EX-99.B.3(D) Other Pages of Cibc's 2018 Annual Report HTML 157K Incorporated in Annual Information Form 6: EX-99.B.6(A)(1) Certifications Required by Rule 13A-14(A) HTML 94K 7: EX-99.B.6(A)(2) Certifications Required by Rule 13A-14(B) HTML 89K 8: EX-99.B.8 Disclosure Regarding Audit Committee Financial HTML 85K Expert 9: EX-99.B.9 Disclosure Regarding Code of Ethics HTML 87K 12: EX-99.D.9 Consent of Independent Registered Public HTML 88K Accounting Firm 19: R1 Document and Entity Information HTML 107K 20: R2 Consolidated balance sheet HTML 197K 21: R3 Consolidated statement of income HTML 215K 22: R4 Consolidated statement of income (Parenthetical) HTML 89K 23: R5 Consolidated statement of comprehensive income HTML 220K 24: R6 Consolidated statement of comprehensive income HTML 90K (Parenthetical) 25: R7 Consolidated statement of changes in equity HTML 208K 26: R8 Consolidated statement of changes in equity HTML 89K (Parenthetical) 27: R9 Consolidated statement of cash flows HTML 217K 28: R10 Consolidated statement of cash flows HTML 89K (Parenthetical) 29: R11 Basis of preparation and summary of significant HTML 338K accounting policies 30: R12 Fair value measurement HTML 864K 31: R13 Significant transactions HTML 125K 32: R14 Securities HTML 323K 33: R15 Loans HTML 502K 34: R16 Structured entities and derecognition of financial HTML 185K assets 35: R17 Land, Buildings and Equipment HTML 132K 36: R18 Goodwill, Software and Other Intangible Assets HTML 191K 37: R19 Other assets HTML 97K 38: R20 Deposits HTML 121K 39: R21 Other liabilities HTML 99K 40: R22 Derivative instruments HTML 398K 41: R23 Designated accounting hedges HTML 260K 42: R24 Subordinated indebtedness HTML 153K 43: R25 Common and preferred share capital HTML 229K 44: R26 Capital Trust securities HTML 111K 45: R27 Share-based payments HTML 176K 46: R28 Post-employment benefits HTML 332K 47: R29 Income taxes HTML 282K 48: R30 Earnings per share HTML 106K 49: R31 Commitments, guarantees and pledged assets HTML 147K 50: R32 Contingent liabilities and provision HTML 157K 51: R33 Concentration of credit risk HTML 138K 52: R34 Related-party transactions HTML 112K 53: R35 Investments in equity-accounted associates and HTML 111K joint ventures 54: R36 Significant subsidiaries HTML 124K 55: R37 Financial instruments - disclosures HTML 126K 56: R38 Offsetting financial assets and liabilities HTML 165K 57: R39 Interest income and expense HTML 106K 58: R40 Segmented and geographic information HTML 322K 59: R41 Future accounting policy changes HTML 101K 60: R42 IFRS 7 Disclosure HTML 822K 61: R43 Basis of preparation and summary of significant HTML 461K accounting policies (Policies) 62: R44 Basis of preparation and summary of significant HTML 211K accounting policies (Tables) 63: R45 Fair value measurement (Tables) HTML 821K 64: R46 Significant transactions (Tables) HTML 123K 65: R47 Securities (Tables) HTML 334K 66: R48 Loans (Tables) HTML 516K 67: R49 Structured entities and derecognition of financial HTML 141K assets (Tables) 68: R50 Land, Buildings and Equipment (Tables) HTML 132K 69: R51 Goodwill, Software and Other Intangible Assets HTML 173K (Tables) 70: R52 Other assets (Tables) HTML 96K 71: R53 Deposits (Tables) HTML 120K 72: R54 Other liabilities (Tables) HTML 98K 73: R55 Derivative instruments (Tables) HTML 360K 74: R56 Designated accounting hedges (Tables) HTML 277K 75: R57 Subordinated indebtedness (Tables) HTML 151K 76: R58 Common and preferred share capital (Tables) HTML 209K 77: R59 Capital Trust securities (Tables) HTML 105K 78: R60 Share-based payments (Tables) HTML 148K 79: R61 Post-employment benefits (Tables) HTML 320K 80: R62 Income taxes (Tables) HTML 272K 81: R63 Earnings per share (Tables) HTML 106K 82: R64 Commitments, guarantees and pledged assets HTML 129K (Tables) 83: R65 Contingent liabilities and provision (Tables) HTML 106K 84: R66 Concentration of credit risk (Tables) HTML 136K 85: R67 Related-party transactions (Tables) HTML 100K 86: R68 Investments in equity-accounted associates and HTML 103K joint ventures (Tables) 87: R69 Significant subsidiaries (Tables) HTML 124K 88: R70 Financial instruments - disclosures (Tables) HTML 118K 89: R71 Offsetting financial assets and liabilities HTML 165K (Tables) 90: R72 Interest income and expense (Tables) HTML 106K 91: R73 Segmented and geographic information (Tables) HTML 270K 92: R74 Summary of Breakdown of Our Standardized Credit HTML 126K Risk Exposures by Risk-weight Category (Tables) 93: R75 IFRS 7 Disclosure (Tables) HTML 652K 94: R76 Basis of Preparation and Summary of Significant HTML 188K Accounting Policies - Reconciliation of Closing Allowance for Credit Losses in Accordance with IAS 39 (Detail) 95: R77 Basis of Preparation and Summary of Significant HTML 101K accounting Policies - Additional Information (Detail) 96: R78 Basis of Preparation and Summary of Significant HTML 101K accounting Policies - Additional Information1 (Detail) 97: R79 Basis of Preparation and Summary of Significant HTML 307K Accounting Policies - Reconciliation of Carrying Amounts Under IAS 39, Net of Tax on Shareholders' Equity and Total Equity (Detail) 98: R80 Basis of Preparation and Summary of Significant HTML 108K Accounting Policies - Reconciliation of Carrying Amounts Under IAS 39, Net of Tax on Shareholders' Equity and Total Equity (Parenthetical) (Detail) 99: R81 Fair Value Measurement - Fair Value of Financial HTML 291K Instruments (Detail) 100: R82 Fair Value Measurement - Fair Value of Derivative HTML 208K Financial Instruments (Detail) 101: R83 Fair Value Measurement - Summary of Assets and HTML 138K Liabilities Not Carried On Consolidated Balance Sheet at Fair Value (Detail) 102: R84 Fair Value Measurement - Summary of Financial HTML 243K Instruments Carried On Consolidated Balance Sheet at Fair Value (Detail) 103: R85 Fair Value Measurement - Summary of Financial HTML 101K Instruments Carried On Consolidated Balance Sheet at Fair Value (Parenthetical) (Detail) 104: R86 Fair Value Measurement- Additional Information HTML 124K (Detail) 105: R87 Fair Value Measurement - Changes in Fair Value of HTML 368K Financial Assets and Liabilities in Level 3 (Detail) 106: R88 Fair Value Measurement - Changes in Fair Value of HTML 92K Financial Assets and Liabilities in Level 3 (Parenthetical) (Detail) 107: R89 Fair Value Measurement - Valuation Techniques and HTML 180K Quantitative Information About Significant Non-observable Inputs Used In Level 3 Financial Instruments (Detail) 108: R90 Significant Transactions - Additional information HTML 175K (Detail) 109: R91 Significant Transactions - Detailed Information of HTML 102K Business Acquisition (Detail) 110: R92 Significant Transactions - Detailed Information of HTML 118K Business Acquisition (Parenthetical) (Detail) 111: R93 Significant Transactions - Disclosure of HTML 129K Preliminary Fair Values of Identifiable Assets Acquired and Liabilities Assumed at the Acquisition Date (Detail) 112: R94 Significant Transactions - Disclosure of HTML 101K Preliminary Fair Values of Identifiable Assets Acquired and Liabilities Assumed at the Acquisition Date (Parenthetical) (Detail) 113: R95 Securities - Summary of Securities (Detail) HTML 110K 114: R96 Securities - Summary of Securities (Parenthetical) HTML 88K (Detail) 115: R97 Securities - Summary of Residual Term to HTML 293K Contractual Maturity of Financial Instruments (Detail) 116: R98 Securities - Summary of Residual Term to HTML 166K Contractual Maturity of Financial Instruments (Parenthetical) (Detail) 117: R99 Securities - Schedule of Fair Value of Debt HTML 161K Securities Measured and Equity Securities Designated at FVOCI (Detail) 118: R100 Securities - Schedule of Fair Value of Debt HTML 89K Securities Measured and Equity Securities Designated at FVOCI (Parenthetical) (Detail) 119: R101 Securities - Additional Information (Detail) HTML 126K 120: R102 Securities - Summary of Profit or Loss Recognized HTML 107K on FVOCI Securities (Detail) 121: R103 Securities - Summary of Allowance for Losses HTML 118K measured at FVOCI (Detail) 122: R104 Securities - Summary of Allowance for Losses HTML 98K measured at FVOCI (Parenthetical) (Detail) 123: R105 Loans - Disclosure of Loans and Receivables HTML 162K (Detail) 124: R106 Loans - Disclosure of Loans and Receivables HTML 106K (Parenthetical) (Detail) 125: R107 Loans - Summary of Allowance for Credit Losses HTML 225K under IFRS 9 (Detail) 126: R108 Loans - Summary of Allowance for Credit Losses HTML 102K under IFRS 9 (Parenthetical) (Detail) 127: R109 Loans - Summary of Allowance for Credit Losses HTML 158K under IAS 39 (Detail) 128: R110 Loans - Additional Information (Detail) HTML 119K 129: R111 Loans - Summary of Base Case Forecasts for Select HTML 109K Forward Looking Information Variables Used to Estimate our Expected Credit Losses (Detail) 130: R112 Loans - Summary of Carrying Amount of Loans Based HTML 217K on Internal Risk Rating Grades (Detail) 131: R113 Loans - Summary of Carrying Amount of Loans Based HTML 109K on Internal Risk Rating Grades (Parenthetical) (Detail) 132: R114 Loans - Summary of Undrawn Credit Facilities and HTML 209K Other Off Balance Sheet Exposures (Detail) 133: R115 Loans - Summary of Credit Quality of Net Business HTML 170K and Government Loans and Acceptances (Detail) 134: R116 Loans - Summary of Credit Quality of Net Business HTML 88K and Government Loans and Acceptances (Parenthetical) (Detail) 135: R117 Loans - Summary of Credit Quality of Net Retail HTML 192K Loans (Detail) 136: R118 Loans - Summary of Impaired Loans (Detail) HTML 140K 137: R119 Loans - Summary of Impaired Loans (Parenthetical) HTML 96K (Detail) 138: R120 Loans - Summary of Purchased Credit Impaired Loans HTML 104K (Detail) 139: R121 Loans - Schedule of Loans Past Due But Not HTML 117K Impaired (Detail) 140: R122 Loans - Schedule of Net Interest Income After HTML 100K Provision for Credit Losses (Detail) 141: R123 Structured Entities and Derecognition of Financial HTML 141K Assets - Additional Information (Detail) 142: R124 Structured Entities and Derecognition of Financial HTML 144K Assets - Schedule of Unconsolidated Entity Balance Sheet Amounts and Maximum Exposure to Loss (Detail) 143: R125 Structured Entities and Derecognition of Financial HTML 92K Assets - Schedule of Unconsolidated Entity Balance Sheet Amounts and Maximum Exposure to Loss (Parenthetical) (Detail) 144: R126 Structured Entities and Derecognition of Financial HTML 108K Assets - Schedule of Carrying Amount and Fair Value of Transferred Financial Assets that did not Qualify for Derecognition and Associated Financial Liabilities (Detail) 145: R127 Structured Entities and Derecognition of Financial HTML 92K Assets - Schedule of Carrying Amount and Fair Value of Transferred Financial Assets that did not Qualify for Derecognition and Associated Financial Liabilities (Parenthetical) (Detail) 146: R128 Land, Buildings and Equipment - Summary of Land, HTML 133K Buildings and Equipment (Detail) 147: R129 Land, Buildings and Equipment - Summary of Land, HTML 91K Buildings and Equipment (Parenthetical) (Detail) 148: R130 Land, Buildings and Equipment - Additional HTML 109K Information (Detail) 149: R131 Land, Buildings and Equipment - Carrying Value of HTML 93K Finance Lease Property (Detail) 150: R132 Goodwill, Software and Other Intangible Assets - HTML 114K Summary of Changes in Carrying Amount of Goodwill by Cash Generating Units (Detail) 151: R133 Goodwill, Software and Other Intangible Assets - HTML 98K Summary of Changes in Carrying Amount of Goodwill by Cash Generating Units (Parenthetical) (Detail) 152: R134 Goodwill, Software and Other Intangible Assets - HTML 161K Additional Information (Detail) 153: R135 Goodwill, Software and Other Intangible Assets - HTML 102K Schedule of Carrying Amount of Indefinite-lived Intangible Assets (Detail) 154: R136 Goodwill, Software and Other Intangible Assets - HTML 136K Schedule of Components of Finite-lived Software and Other Intangible Assets (Detail) 155: R137 Goodwill, Software and Other Intangible Assets - HTML 97K Schedule of Components of Finite-lived Software and Other Intangible Assets (Parenthetical) (Detail) 156: R138 Other Assets - Summary of Other Assets (Detail) HTML 108K 157: R139 Deposits - Summary of Deposits and Components HTML 139K (Detail) 158: R140 Deposits - Summary of Deposits and Components HTML 102K (Parenthetical) (Detail) 159: R141 Other Liabilities - Summary of Other liabilities HTML 107K (Detail) 160: R142 Derivative Instruments- Summary of Derivative HTML 103K Instruments (Detail) 161: R143 Derivative Instruments - Summary of Notional HTML 380K Amounts (Detail) 162: R144 Derivative Instruments - Summary of Notional HTML 93K Amounts (Parenthetical) (Detail) 163: R145 Derivative Instruments - Summary of Credit HTML 219K Exposure Arising from Derivatives (Detail) 164: R146 Derivative Instruments - Summary of Credit HTML 96K Exposure Arising from Derivatives (Parenthetical) (Detail) 165: R147 Derivative Instruments - Additional Information HTML 89K (Detail) 166: R148 Designated accounting hedges - Summary of Items HTML 192K Designated as Hedging Instruments (Detail) 167: R149 Designated Accounting Hedges - Summary of Notional HTML 105K Amounts and Carrying Value of Our Hedging Related Derivative Instruments (Detail) 168: R150 Designated Accounting Hedges - Summary of Average HTML 135K Rate or Price of Hedging Instruments (Detail) 169: R151 Designated Accounting Hedges - Additional HTML 109K Information (Detail) 170: R152 Designated Accounting Hedges - Summary of Items HTML 142K Designated as Hedged Items (Detail) 171: R153 Designated Accounting Hedges - Summary of Items HTML 93K Designated as Hedged Items (Parenthetical) (Detail) 172: R154 Designated Accounting Hedges - Summary of Hedge HTML 137K Accounting Impact on the Consolidated Statement of Comprehensive Income (Detail) 173: R155 Designated Accounting Hedges - Summary of Hedge HTML 104K Ineffectiveness Gains (Losses) Recognized in Consolidated Statement of Income (Detail) 174: R156 Designated Accounting Hedges - Summary of Periods HTML 97K when Cash Flows Designated as Hedged (Detail) 175: R157 Subordinated Indebtedness - Schedule of Terms of HTML 176K Subordinated Indebtedness (Detail) 176: R158 Subordinated Indebtedness - Schedule of Terms of HTML 132K Subordinated Indebtedness (Parenthetical) (Detail) 177: R159 Common and Preferred Share Capital - Summary of HTML 136K Outstanding Shares and Dividends Paid (Detail) 178: R160 Common and Preferred Share Capital - Additional HTML 206K Information (Detail) 179: R161 Common and Preferred Share Capital - Schedule of HTML 138K Common Shares Issued (Detail) 180: R162 Common and Preferred Share Capital - Schedule of HTML 95K Common Shares Issued (Parenthetical) (Detail) 181: R163 Common and Preferred Share Capital - Schedule of HTML 97K Common Shares Purchased and Cancelled under Previously Expired NCIB (Detail) 182: R164 Common and Preferred Share Capital - Schedule of HTML 94K Common Shares Purchased and Cancelled under Previously Expired NCIB (Parenthetical) (Detail) 183: R165 Common and Preferred Share Capital - Schedule of HTML 105K Terms of Class A Preferred Shares (Detail) 184: R166 Common and Preferred Share Capital - Schedule of HTML 106K Regulatory Capital and Ratios (Detail) 185: R167 Capital Trust Securities - Additional Information HTML 109K (Detail) 186: R168 Capital Trust Securities - Summary of Significant HTML 105K Terms and Conditions of Notes (Detail) 187: R169 Capital Trust Securities - Summary of Significant HTML 99K Terms and Conditions of Notes (Parenthetical) (Detail) 188: R170 Share-based Payments - Additional Information HTML 199K (Detail) 189: R171 Share-based Payments - Summary of Assumptions Used HTML 99K to Determine Fair Value of Options Granted (Detail) 190: R172 Share-based Payments - Summary of Stock Option HTML 123K Activity and Related Information (Detail) 191: R173 Share-based Payments - Summary of Stock Option HTML 92K Activity and Related Information (Parenthetical) (Detail) 192: R174 Share-based payments -Summary of Stock options HTML 126K outstanding and vested (Detail) 193: R175 Post-Employment Benefits - Additional Information HTML 102K (Detail) 194: R176 Post-Employment Benefits - Summary of Financial HTML 154K Position Related to Defined Benefit Pensions and Other Post Employment Plans (Detail) 195: R177 Post-Employment Benefits - Summary of Financial HTML 90K Position Related to Defined Benefit Pensions and Other Post Employment Plans (Parenthetical) (Detail) 196: R178 Post-Employment Benefits - Summary of Defined HTML 105K Benefit Assets (Liability) Net of Valuation Allowance Included in Other Assets and Other Liabilities (Detail) 197: R179 Post-Employment Benefits - Summary of Defined HTML 94K Benefit Assets (Liability) Net of Valuation Allowance Included in Other Assets and Other Liabilities (Parenthetical) (Detail) 198: R180 Post-Employment Benefits - Summary of Defined HTML 107K Benefit obligation and Plan Assets by Region (Detail) 199: R181 Post-Employment Benefits - Summary of Defined HTML 116K Benefit Plan Expense (Detail) 200: R182 Post-Employment Benefits - Summary of Defined HTML 89K Benefit Plan Expense (Parenthetical) (Detail) 201: R183 Post-Employment Benefits - Summary of Net HTML 111K Remeasurement Gains (Losses) Recognized in OCI (Detail) 202: R184 Post-Employment Benefits - Summary of Net HTML 91K Remeasurement Gains (Losses) Recognized in OCI (Parenthetical) (Detail) 203: R185 Post-Employment Benefits - Summary of Defined HTML 106K Benefit Obligation (Detail) 204: R186 Post-Employment Benefits - Summary of Weighted HTML 94K Average Duration of Defined Benefit Obligation (Detail) 205: R187 Post-Employment Benefits - Summary of Major HTML 147K Categories of Defined Benefit Plan Assets (Detail) 206: R188 Post-Employment Benefits - Summary of Major HTML 100K Categories of Defined Benefit Plan Assets (Parenthetical) (Detail) 207: R189 Post-Employment Benefits - Summary of Weighted HTML 98K Average Principal Assumptions Used to Determine Defined Benefit Obligation (Detail) 208: R190 Post-Employment Benefits - Summary of Weighted HTML 91K Average Principal Assumptions Used to Determine Defined Benefit Obligation (Parenthetical) (Detail) 209: R191 Post-Employment Benefits - Summary of Longevities HTML 99K Underlying Values of Defined Benefit Obligation (Detail) 210: R192 Post-Employment Benefits - Summary of Assumed HTML 96K Health-care Cost Trend Rates (Detail) 211: R193 Post-Employment Benefits - Summary of Affected HTML 109K Defined Benefit Obligation Due to Reasonable Possible Changes to Principal Actuarial Assumptions (Detail) 212: R194 Post-Employment Benefits - Summary of Expected HTML 108K Future Benefit Payments (Detail) 213: R195 Post-Employment Benefits - Summary of defined HTML 95K contributions and other plans (Detail) 214: R196 Income Taxes - Total Income Taxes (Detail) HTML 115K 215: R197 Income Taxes - Components of Income Tax (Detail) HTML 104K 216: R198 Income Taxes - Reconciliation of Income Taxes HTML 126K (Detail) 217: R199 Income Taxes - Sources and Movement in Deferred HTML 226K Tax Assets and Liabilities (Detail) 218: R200 Income Taxes - Sources and Movement in Deferred HTML 94K Tax Assets and Liabilities (Parenthetical) (Detail) 219: R201 Income Taxes - Additional Information (Detail) HTML 136K 220: R202 Earnings per Share - Summary of Earnings Per Share HTML 111K (Detail) 221: R203 Earnings per Share - Summary of Earnings Per Share HTML 91K (Parenthetical) (Detail) 222: R204 Commitments, Guarantees and Pledged Assets - HTML 100K Summary of Contract Amounts of Credit-Related Arrangements (Detail) 223: R205 Commitments, Guarantees and Pledged Assets - HTML 94K Summary of Contract Amounts of Credit-Related Arrangements (Parenthetical) (Detail) 224: R206 Commitments, Guarantees and Pledged Assets - HTML 104K Additional Information (Detail) 225: R207 Commitments, Guarantees and Pledged Assets - HTML 112K Summary of Future Minimum Lease Payments and Receipt for Operating Lease Commitments (Detail) 226: R208 Commitments, Guarantees and Pledged Assets - HTML 91K Summary of Future Minimum Lease Payments and Receipt for Operating Lease Commitments (Parenthetical) (Detail) 227: R209 Commitments, Guarantees and Pledged Assets - HTML 108K Summary of Future Minimum Lease Payments for Finance Lease Commitments (Detail) 228: R210 Commitments, Guarantees and Pledged Assets - HTML 89K Summary of Future Minimum Lease Payments for Finance Lease Commitments (Parenthetical) (Detail) 229: R211 Commitments, Guarantees and Pledged Assets - HTML 112K Summary of Asset Pledging Amounts and Related Activities (Detail) 230: R212 Contingent Liabilities and Provision - Additional HTML 140K Information (Detail) 231: R213 Contingent Liabilities and Provision - Disclosure HTML 98K of Changes in Legal Provisions (Detail) 232: R214 Contingent Liabilities and Provision - Disclosure HTML 98K of Changes in the Restructuring Provision (Detail) 233: R215 Concentration of Credit Risk - Summary of Credit HTML 162K Exposure Associated with our On- and Off-Balance Sheet Financial Instruments (Detail) 234: R216 Concentration of Credit Risk - Summary of Credit HTML 106K Exposure Associated with our On- and Off-Balance Sheet Financial Instruments (Parenthetical) (Detail) 235: R217 Related-Party Transactions - Additional HTML 99K Information (Detail) 236: R218 Related-Party Transactions - Summary of HTML 104K Compensation of Key Management Personnel (Detail) 237: R219 Investments in Equity-Accounted Associates and HTML 148K Joint Ventures - Additional Information (Detail) 238: R220 Investments in Equity-Accounted Associates and HTML 100K Joint Ventures - Summary of Aggregate Financial Information Related to Proportionate Interest in the Equity-accounted Joint Ventures (Detail) 239: R221 Investments in Equity-Accounted Associates and HTML 100K Joint Ventures - Summary of Aggregate Financial Information Related to Proportionate Interest in Equity-Accounted Associates (Detail) 240: R222 Significant Subsidiaries - Additional Information HTML 90K (Detail) 241: R223 Significant Subsidiaries - Summary List of HTML 211K Significant Subsidiaries (Detail) 242: R224 Significant Subsidiaries - Summary List of HTML 124K Significant Subsidiaries (Parenthetical) (Detail) 243: R225 Financial Instruments -Schedule of Balance Sheet HTML 135K Exposure Credit Risk under Different Basel Approaches (Detail) 244: R226 Offsetting Financial Assets and Liabilities - HTML 171K Schedule of Financial Assets and Liabilities (Detail) 245: R227 Offsetting Financial Assets and Liabilities - HTML 89K Schedule of Financial Assets and Liabilities (Parenthetical) (Detail) 246: R228 Interest income and expense - Summary of HTML 113K Consolidated Interest Income and Expense for Both Product and Accounting Categories (Detail) 247: R229 Segmented and Geographic Information - Detailed HTML 198K Report of Segments and Geographic Areas (Detail) 248: R230 Segmented and Geographic Information - Detailed HTML 93K Report of Segments and Geographic Areas (Parenthetical) (Detail) 249: R231 Segmented and Geographic Information - Breakdown HTML 126K of revenue from reporting segments (Detail) 250: R232 Segmented and Geographic Information - Breakdown HTML 93K of revenue from reporting segments (Parenthetical) (Detail) 251: R233 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 115K Risk Measurement (Detail) 252: R234 IFRS 7 - Disclosure - Credit Risk - Summary of PD HTML 107K Bands to Various Risk Levels (Detail) 253: R235 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 251K Exposure to Credit Risk (Detail) 254: R236 IFRS 7 - Disclosure - Credit Risk - Additional HTML 116K Information (Detail) 255: R237 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 158K Breakdown of Our Standardized Credit Risk Exposures by Risk-weight Category (Detail) 256: R238 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 104K Rating Profile of OTC Derivative Mark to Market (MTM) Receivables (Detail) 257: R239 IFRS 7 - Disclosure - Credit Risk- Summary of HTML 140K Geographic Distribution of Business and Government Exposures Under the AIRB Approach (Detail) 258: R240 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 257K Industry-wide Breakdown of Business and Government Exposure (Detail) 259: R241 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 94K Industry-wide Breakdown of Business and Government Exposure (Parenthetical) (Detail) 260: R242 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 182K Credit Quality of Risk-rated Portfolios Exposure (Detail) 261: R243 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 139K Credit Quality of Retail Portfolios (Detail) 262: R244 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 104K Securitization Exposures (Detail) 263: R245 IFRS 7 - Disclosure - Credit Risk - Summary of HTML 91K Securitization Exposures (Parenthetical) (Detail) 264: R246 IFRS 7 - Disclosure - Market Risk - Additional HTML 118K Information (Detail) 265: R247 IFRS 7 - Disclosure - Market Risk - Summary of HTML 129K Market Risks by Type of Risks (Detail) 266: R248 IFRS 7 - Disclosure - Market Risk - Summary of HTML 129K Stressed Value At Risk by Trading Activities (Detail) 267: R249 IFRS 7 - Disclosure - Market Risk - Summary of HTML 105K Incremental Risk Charge by Trading Activities (Detail) 268: R250 IFRS 7 - Disclosure - Market Risk - Summary of HTML 101K Structural Interest Rate Sensitivity - Measures (Detail) 269: R251 IFRS 7 - Disclosure - Market Risk - Summary of HTML 106K Amortized Cost and Fair Values of Non-trading Equities (Detail) 270: R252 IFRS 7 - Disclosure - Liquidity Risk - Summary of HTML 127K Encumbered and Unencumbered Assets from On- and Off-Balance Sheet Sources (Detail) 271: R253 IFRS 7 - Disclosure - Liquidity Risk - Additional HTML 88K Information (Detail) 272: R254 IFRS 7 - Disclosure - Liquidity Risk - Summary of HTML 255K Contractual Maturity Profile of On-Balance Sheet Assets, Liabilities and Equity at their Carrying Values (Detail) 273: R255 IFRS 7 - Disclosure - Liquidity Risk - Summary of HTML 104K Contractual Maturity Profile of On-Balance Sheet Assets, Liabilities and Equity at their Carrying Values (Parenthetical) (Detail) 274: R256 IFRS 7 - Disclosure - Liquidity Risk - Summary of HTML 172K Credit Related Commitments (Detail) 275: R257 IFRS 7 - Disclosure - Liquidity Risk - Summary of HTML 95K Credit Related Commitments (Parenthetical) (Detail) 276: R258 IFRS 7 - Disclosure - Liquidity Risk - Summary of HTML 161K Contractual Maturities of Other Contractual Obligations Affecting Our Funding Needs (Detail) 278: XML IDEA XML File -- Filing Summary XML 577K 277: EXCEL IDEA Workbook of Financial Reports XLSX 515K 13: EX-101.INS XBRL Instance -- cm-20181031 XML 23.36M 15: EX-101.CAL XBRL Calculations -- cm-20181031_cal XML 807K 16: EX-101.DEF XBRL Definitions -- cm-20181031_def XML 4.27M 17: EX-101.LAB XBRL Labels -- cm-20181031_lab XML 5.84M 18: EX-101.PRE XBRL Presentations -- cm-20181031_pre XML 5.30M 14: EX-101.SCH XBRL Schema -- cm-20181031 XSD 1.22M 279: ZIP XBRL Zipped Folder -- 0001193125-18-337149-xbrl Zip 1.19M

Note 15

Common and preferred share capital

The following table presents the outstanding number of shares and dividends paid:

Outstanding shares and dividends paid


$ millions, except number of shares and per share amounts, as at or for the year ended October 31							2018										2017								2016
	Shares outstanding				Dividends paid				Shares outstanding						Dividends paid				Shares outstanding				Dividends paid
	Number of shares		Amount		Amount		$ per share		Number of shares			Amount			Amount		$ per share		Number of shares		Amount		Amount		$ per share
Common shares		442,823,361	$	13,242	$	2,356	$	5.32		439,329,713		$	12,550		$	2,121	$	5.08		397,055,398	$	8,025	$	1,879	$	4.75
Class A Preferred Shares
Series 39		16,000,000		400		16		0.98		16,000,000			400			16		0.98		16,000,000		400		16		0.98
Series 41		12,000,000		300		11		0.94		12,000,000			300			11		0.94		12,000,000		300		11		0.94
Series 43		12,000,000		300		11		0.90		12,000,000			300			11		0.90		12,000,000		300		11		0.90
Series 45		32,000,000		800		35		1.10		32,000,000			800			14		0.46		–		–		–		–
Series 47		18,000,000		450		16		0.88		–			–			–		–		–		–		–		–
			$	2,250	$	89						$	1,800		$	52					$	1,000	$	38
Treasury shares –common shares		3,019	$	1						(16,410	)	$	(2	)						14,882	$	1
Treasury shares –preferred shares		–		–						(116,671	)		(3	)						–		–

Common shares

CIBC’s authorized capital consists of an unlimited number of common shares, without nominal or par value.

Common shares issued


$ millions, except number of shares, as at or for the year ended October 31				2018						2017						2016
	Number of shares			Amount			Number of shares			Amount			Number of shares			Amount
Balance at beginning of year		439,313,303		$	12,548			397,070,280		$	8,026			397,291,068		$	7,813
Issuance pursuant to:
Acquisition of The PrivateBank		1,689,450			194			32,137,402			3,443			–			–
Acquisition of Geneva Advisors		–			–			1,204,344			126			–			–
Acquisition of Wellington Financial		378,848			47			–			–			–			–
Equity-settled share-based compensation plans		999,675			95			990,934			91			815,767			72
Shareholder investment plan ⁽¹⁾		2,880,782			337			6,870,584			749			1,662,972			164
Employee share purchase plan ⁽²⁾		1,044,893			123			1,071,051			117			373,382			37
		446,306,951		$	13,344			439,344,595		$	12,552			400,143,189		$	8,086
Purchase of common shares for cancellation		(3,500,000	)		(104	)		–			–			(3,081,300	)		(61	)
Treasury shares		19,429			3			(31,292	)		(4	)		8,391			1
Balance at end of year ⁽³⁾		442,826,380		$	13,243			439,313,303	⁽⁴⁾	$	12,548			397,070,280		$	8,026

(1)

Commencing on October 28, 2016, CIBC has met the requirements for additional common shares for the Shareholder Investment Plan (the Plan) by issuing shares from Treasury. The participants in the Dividend Reinvestment Option and the Stock Dividend Option of the Plan received a 2% discount to average market price on dividends reinvested in additional common shares. Effective with the dividends paid on April 27, 2018, the discount was removed. The participants in the Share Purchase Option of the Plan continue to receive shares issued from Treasury with no discount.

(2)	Commencing June 29, 2016, employee contributions to our Canadian ESPP have been used to purchase common shares from Treasury.

(3)	Excludes 60,764 restricted shares as at October 31, 2018 (2017: 190,285; 2016: nil).

(4)	Excludes 2,010,890 common shares which were issued and outstanding but which had not been acquired by a third party as at October 31, 2017. These shares were issued as a component of our acquisition of The PrivateBank.

Common shares reserved for issue

As at October 31, 2018, 15,703,861 common shares (2017: 6,654,170) were reserved for future issue pursuant to stock option plans, 16,160,842 common shares (2017: 19,041,624) were reserved for future issue pursuant to the Shareholder Investment Plan, 3,043,087 common shares (2017: 2,771,650) were reserved for future issue pursuant to the employee share purchase plan and other activities, and 1,561,767,500 common shares (2017: 1,012,992,500) were reserved for future issue pursuant to instruments which include an NVCC provision requiring conversion into common shares upon the occurrence of a Trigger Event as described in the capital adequacy guidelines.

Normal course issuer bid

On May 31, 2018, we announced that the Toronto Stock Exchange (TSX) had accepted the notice of CIBC’s intention to commence a normal course issuer bid (NCIB). Purchases under this bid will terminate upon the earlier of: (i) CIBC purchasing up to a maximum of 9 million common shares; (ii) CIBC providing a notice of termination; or (iii) June 3, 2019. During the year, we purchased and cancelled 3,500,000 common shares under this bid at an average price of $119.22 for a total amount of $417 million.

The following table shows common shares purchased and cancelled under previously expired NCIBs.

$ millions, except number of shares, as at or for the year ended October 31

2018

2017

2016

TSX approval date

Number
of shares

Amount

Number
of shares

Amount

Number
of shares

Amount

September 16, 2015⁽¹⁾

–

3,081,300

270

March 10, 2017 ⁽²⁾

–

3,081,300

270

(1)	Common shares were repurchased at an average price of $87.83 under this NCIB, including 1,400,000 common shares purchased and cancelled under a private agreement at an average price of $86.94 for a total amount of $122 million on January 8, 2016.

(2)	No common shares were repurchased under this NCIB.

Preferred shares

CIBC is authorized to issue an unlimited number of Class A Preferred Shares and Class B Preferred Shares without nominal or par value, issuable in series, provided that, for each class of preferred shares, the maximum aggregate consideration for all outstanding shares, at any time does not exceed $10 billion. There are no Class B Preferred Shares currently outstanding.

Preferred share rights and privileges

Class A Preferred Shares

Each series of Class A Preferred Shares bears quarterly non-cumulative dividends. Non-cumulative Rate Reset Class A Preferred Shares Series 39, 41, 43, 45, and 47 (NVCC) are redeemable, subject to regulatory approval if required, for cash by CIBC on or after the specified redemption dates at the cash redemption prices indicated in the terms of the preferred shares.

Non-cumulative Rate Reset Class A Preferred Shares Series 47 (NVCC) (Series 47 shares)

On January 18, 2018, we issued 18 million Non-cumulative Rate Reset Class A Preferred Shares Series 47 (NVCC) (Series 47 shares) with a par value of $25.00 per share, for gross proceeds of $450 million. For the initial five-year period to the earliest redemption date of January 31, 2023, the Series 47 shares pay quarterly cash dividends, if declared, at a rate of 4.50%. On January 31, 2023, and on January 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 2.45%.

Holders of the Series 47 shares will have the right to convert their shares on a one-for-one basis into Non-cumulative Floating Rate Class A Preferred Shares Series 48 (NVCC) (Series 48 shares), subject to certain conditions, on January 31, 2023 and on January 31 every five years thereafter. Holders of the Series 48 shares will be entitled to receive a quarterly floating rate dividend, if declared, equal to the three-month Government of Canada Treasury Bill yield plus 2.45%. Holders of the Series 48 shares may convert their shares on a one-for-one basis into Series 47 shares, subject to certain conditions, on January 31, 2028 and on January 31 every five years thereafter.

Subject to regulatory approval and certain provisions of the shares, we may redeem all or any part of the then outstanding Series 47 shares at par on January 31, 2023 and on January 31 every five years thereafter; we may redeem all or any part of the then outstanding Series 48 shares at par on January 31, 2028 and on January 31 every five years thereafter.

Non-cumulative Rate Reset Class A Preferred Shares Series 45 (NVCC) (Series 45 shares)

On June 2, 2017, we issued 32 million Series 45 shares with a par value of $25.00 per share, for gross proceeds of $800 million. For the initial five-year period to the earliest redemption date of July 31, 2022, the Series 45 shares pay quarterly cash dividends, if declared, at a rate of 4.40%. On July 31, 2022, and on July 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 3.38%.

Holders of the Series 45 shares will have the right to convert their shares on a one-for-one basis into Non-cumulative Floating Rate Class A Preferred Shares Series 46 (NVCC) (Series 46 shares), subject to certain conditions, on July 31, 2022 and on July 31 every five years thereafter. Holders of the Series 46 shares will be entitled to receive a quarterly floating rate dividend, if declared, equal to the three-month Government of Canada Treasury Bill yield plus 3.38%. Holders of the Series 46 shares may convert their shares on a one-for-one basis into Series 45 shares, subject to certain conditions, on July 31, 2027 and on July 31 every five years thereafter.

Subject to regulatory approval and certain provisions of the shares, we may redeem all or any part of the then outstanding Series 45 shares at par on July 31, 2022 and on July 31 every five years thereafter; we may redeem all or any part of the then outstanding Series 46 shares at par on July 31, 2027 and on July 31 every five years thereafter.

Non-cumulative Rate Reset Class A Preferred Shares Series 43 (NVCC) (Series 43 shares)

On March 11, 2015, we issued 12 million Series 43 shares with a par value of $25.00 per share, for gross proceeds of $300 million. For the initial five-year period to the earliest redemption date of July 31, 2020, the Series 43 shares pay quarterly cash dividends, if declared, at a rate of 3.60%. On July 31, 2020, and on July 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 2.79%.

Holders of the Series 43 shares will have the right to convert their shares on a one-for-one basis into Non-cumulative Floating Rate Class A Preferred Shares Series 44 (NVCC) (Series 44 shares), subject to certain conditions, on July 31, 2020 and on July 31 every five years thereafter. Holders of the Series 44 shares will be entitled to receive a quarterly floating rate dividend, if declared, equal to the three-month Government of Canada Treasury Bill yield plus 2.79%. Holders of the Series 44 shares may convert their shares on a one-for-one basis into Series 43 shares, subject to certain conditions, on July 31, 2025 and on July 31 every five years thereafter.

Subject to regulatory approval and certain provisions of the shares, we may redeem all or any part of the then outstanding Series 43 shares at par on July 31, 2020 and on July 31 every five years thereafter; we may redeem all or any part of the then outstanding Series 44 shares at par on July 31, 2025 and on July 31 every five years thereafter.

Non-cumulative Rate Reset Class A Preferred Shares Series 41 (NVCC) (Series 41 shares)

On December 16, 2014, we issued 12 million Series 41 shares with a par value of $25.00 per share, for gross proceeds of $300 million. For the initial five-year period to the earliest redemption date of January 31, 2020, the Series 41 shares pay quarterly cash dividends, if declared, at a rate of 3.75%. On January 31, 2020, and on January 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 2.24%.

Holders of the Series 41 shares will have the right to convert their shares on a one-for-one basis into Non-cumulative Floating Rate Class A Preferred Shares Series 42 (NVCC) (Series 42 shares), subject to certain conditions, on January 31, 2020 and on January 31 every five years thereafter. Holders of the Series 42 shares will be entitled to receive a quarterly floating rate dividend, if declared, equal to the three-month Government of Canada Treasury Bill yield plus 2.24%. Holders of the Series 42 shares may convert their shares on a one-for-one basis into Series 41 shares, subject to certain conditions, on January 31, 2025 and on January 31 every five years thereafter.

Subject to regulatory approval and certain provisions of the shares, we may redeem all or any part of the then outstanding Series 41 shares at par on January 31, 2020 and on January 31 every five years thereafter; we may redeem all or any part of the then outstanding Series 42 shares at par on January 31, 2025 and on January 31 every five years thereafter.

Non-cumulative Rate Reset Class A Preferred Shares Series 39 (NVCC) (Series 39 shares)

On June 11, 2014, we issued 16 million Series 39 shares with a par value of $25.00 per share, for gross proceeds of $400 million. For the initial five-year period to the earliest redemption date of July 31, 2019, the Series 39 shares pay quarterly cash dividends, if declared, at a rate of 3.90%. On July 31, 2019, and on July 31 every five years thereafter, the dividend rate will reset to be equal to the then current five-year Government of Canada bond yield plus 2.32%.

Holders of the Series 39 shares will have the right to convert their shares on a one-for-one basis into Non-cumulative Floating Rate Class A Preferred Shares Series 40 (NVCC) (Series 40 shares), subject to certain conditions, on July 31, 2019 and on July 31 every five years thereafter. Holders of the Series 40 shares will be entitled to receive a quarterly floating rate dividend, if declared, equal to the three-month Government of Canada Treasury Bill yield plus 2.32%. Holders of the Series 40 shares may convert their shares on a one-for-one basis into Series 39 shares, subject to certain conditions, on July 31, 2024 and on July 31 every five years thereafter.

Subject to regulatory approval and certain provisions of the shares, we may redeem all or any part of the then outstanding Series 39 shares at par on July 31, 2019, and on July 31 every five years thereafter; we may redeem all or any part of the then outstanding Series 40 shares at par on July 31, 2024, and on July 31 every five years thereafter.

Series 39, Series 40, Series 41, Series 42, Series 43, Series 44, Series 45, Series 46, Series 47, and Series 48 shares are subject to an NVCC provision, necessary for the shares to qualify as regulatory capital under Basel III. As such, the shares are automatically converted into common shares upon the occurrence of a “Trigger Event”. As described in the Capital Adequacy Guidelines, a Trigger Event occurs when OSFI determines the bank is or is about to become non-viable and, if after conversion of all contingent instruments and consideration of any other relevant factors or circumstances, it is reasonably likely that its viability will be restored or maintained; or if the bank has accepted or agreed to accept a capital injection or equivalent support from a federal or provincial government, without which OSFI would have determined the bank to be non-viable. Each such share is convertible into a number of common shares, determined by dividing the par value of $25.00 plus declared and unpaid dividends by the average common share price (as defined in the relevant prospectus supplement) subject to a minimum price of $5.00 per share (subject to adjustment in certain events as defined in the relevant prospectus supplement). We have recorded the Series 39, Series 41, Series 43, Series 45, and Series 47 shares as equity.

Terms of Class A Preferred Shares


Outstanding as at October 31, 2018	Quarterly dividends per share ⁽¹⁾		Earliest specified redemption date		Cash redemption price per share
Series 39	$	0.243750		July 31, 2019	$	25.00
Series 41	$	0.234375		January 31, 2020	$	25.00
Series 43	$	0.225000		July 31, 2020	$	25.00
Series 45	$	0.275000		July 31, 2022	$	25.00
Series 47	$	0.281250		January 31, 2023	$	25.00

(1)	Quarterly dividends may be adjusted depending on the timing of issuance or redemption.

Restrictions on the payment of dividends

Under Section 79 of the Bank Act (Canada), a bank, including CIBC, is prohibited from declaring or paying any dividends on its preferred or common shares if there are reasonable grounds for believing that the bank is, or the payment would cause it to be, in contravention of any capital adequacy or liquidity regulation or any direction to the bank made by OSFI.

In addition, our ability to pay common share dividends is also restricted by the terms of the outstanding preferred shares. These terms provide that we may not pay dividends on our common shares at any time without the approval of holders of the outstanding preferred shares, unless all dividends to preferred shareholders that are then payable have been declared and paid or set apart for payment.

We have agreed that if CIBC Capital Trust fails to pay any interest payments on its $1,300 million of CIBC Tier 1 Notes – Series A, due June 30, 2108 or its $300 million of CIBC Tier 1 Notes – Series B, due June 30, 2108, we will not declare dividends of any kind on any of our preferred or common shares for a specified period of time. For additional details see Note 16.

Currently, these limitations do not restrict the payment of dividends on our preferred or common shares.

Capital

Objectives, policy and procedures

Our objective is to employ a strong and efficient capital base. We manage capital in accordance with a capital policy approved by the Board. The policy includes specific guidelines that relate to capital strength, capital mix, dividends and return of capital, and the unconsolidated capital adequacy of regulated entities and capital is monitored continuously for compliance.

Each year, a Capital Plan and three-year outlook are established as a part of the financial plan, and they encompass all material elements of capital: forecasts of sources and uses of capital including earnings, dividends, business growth, and corporate initiatives, as well as maturities, redemptions, and issuances of capital instruments. The Capital Plan is stress-tested to ensure that it is sufficiently robust under severe but plausible stress scenarios. The level of capital and capital ratios are monitored throughout the year including a comparison to the Capital Plan. There were no significant changes made to the objectives, policy, guidelines and procedures during the year.

Regulatory capital requirements under Basel III

Our regulatory capital requirements are determined in accordance with guidelines issued by OSFI, which are based on the risk-based capital standards developed by the Basel Committee on Banking Supervision (BCBS).

CIBC has been designated by OSFI as a D-SIB in Canada, and is subject to a CET1 surcharge equal to 1.0% of risk-weighted assets (RWAs). In June 2018, OSFI publicly disclosed that it requires D-SIBs to hold a Domestic Stability Buffer, currently set at 1.5% of RWAs. This results in current all-in targets, including all buffer requirements, for CET1, Tier 1 and Total capital ratios of 9.5%, 11.0%, and 13.0%, respectively. These targets may be higher for certain institutions at OSFI’s discretion.

“All-in” is defined by OSFI as capital calculated to include all of the regulatory adjustments that will be required by 2019, but retaining the phase-out rules for non-qualifying capital instruments. Certain deductions from CET1 capital that were phased in at 20% per year from 2014 for the calculation of capital under the transitional rules are now fully deducted, and therefore, there is no longer a determination of transitional capital.

Regulatory capital and ratios

Regulatory capital under Basel III consists of CET1, Tier 1 and Tier 2 capital.

CET1 capital includes common shares, retained earnings, AOCI (excluding AOCI relating to cash flow hedges and changes to FVO liabilities attributable to changes in own credit risk), and qualifying instruments issued by a consolidated banking subsidiary to third parties, less regulatory adjustments for items such as goodwill and other intangible assets (net of related deferred tax liabilities), certain deferred tax assets, net assets related to defined benefit pension plans as reported on our consolidated balance sheet (net of related deferred tax liabilities), and certain investments. Additional Tier 1 (AT1) capital primarily includes NVCC preferred shares, qualifying instruments issued by a consolidated subsidiary to third parties, and non-qualifying innovative Tier 1 notes subject to phase-out rules for capital instruments. Tier 2 capital includes NVCC subordinated indebtedness, non-qualifying subordinated indebtedness subject to phase-out rules for capital instruments, eligible collective allowance under the standardized approach, and qualifying instruments issued by a consolidated subsidiary to third parties.

Our capital ratios and leverage ratio are presented in the table below:


$ millions, as at October 31		2018			2017
All-in basis
CET1 capital		$	24,641		$	21,618
Tier 1 capital	C		27,908			24,682
Total capital			32,230			28,129
CET1 capital RWA ⁽¹⁾			216,144			203,321
Tier 1 capital RWA ⁽¹⁾			216,303			203,321
Total capital RWA ⁽¹⁾			216,462			203,321
CET1 ratio			11.4	%		10.6	%
Tier 1 capital ratio			12.9	%		12.1	%
Total capital ratio			14.9	%		13.8	%
Leverage ratio exposure	D	$	653,946		$	610,353
Leverage ratio	C/D		4.3	%		4.0	%

(1)

Before any capital floor requirement as applicable, there are three different levels of risk-weighted assets (RWAs) for the calculation of the CET1, Tier 1, and Total capital ratios arising from the option CIBC has chosen for the phase-in of the CVA capital charge. Since the introduction of Basel II in 2008, OSFI has prescribed a capital floor requirement for institutions that use the AIRB approach for credit risk. Effective in the second quarter of 2018, the capital floor is determined by comparing a capital requirement calculated by reference to the Basel II standardized approach against the Basel III calculation, as specified by OSFI. Any shortfall in the Basel III capital requirement compared with the floor factor applied to the capital requirements under the Basel II standardized approach is added to RWAs (75% is the floor factor in the fourth quarter of 2018). Prior to the second quarter of 2018, the capital floor for banks using the AIRB approach for credit risk was determined by reference to the Basel I instead of the Basel II standardized approach calculation. All-in RWAs as at October 31, 2017 included a capital floor adjustment under this methodology.

During the years ended October 31, 2018 and 2017, we have complied with OSFI’s regulatory capital requirements, including a 1.5% Domestic Stability Buffer since June 2018.