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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
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| OTHER PAGES OF CIBC'S 2018 ANNUAL REPORT INCORPORATED IN ANNUAL INFORMATION FORM |
Exhibit B.3(d): Other Pages of CIBC’s 2018 Annual Report incorporated in Annual Information Form
| • | “Glossary” pages 186-191 |
| • | “Transfer Agent and Registrar” page 192 |
| • | “Directors and Board Committees” page 194 |
Allowance for credit losses
Under IFRS 9, allowance for credit losses represent 12 months of expected credit losses for instruments that have not been subject to a significant increase in credit risk, while allowance for credit losses represent lifetime expected credit losses for instruments that have been subject to a significant increase in credit risk, including impaired instruments. Expected credit loss allowances for loans and acceptances are included in allowance for credit losses on the consolidated balance sheet. Expected credit loss allowances for FVOCI debt securities are included as a component of the carrying value of the securities, which are measured at fair value. Expected credit loss allowances for other financial assets are included in the carrying value of the instrument. Expected credit loss allowances for guarantees and loan commitments are included in other liabilities.
Under IAS 39, allowance for credit losses generally represented an allowance set up in the financial statements sufficient to absorb specifically identified and inherent credit-related losses in CIBC’s portfolio of loans, acceptances, letters of credit and guarantees. This allowance can be “collective” – assessed by reviewing a portfolio of loans with similar characteristics, or “individual” – assessed by reviewing the characteristics of an individual exposure.
Allowance for credit losses are increased by provisions for credit losses and are reduced by write-offs, net of recoveries.
Amortized cost
The amount at which a financial asset or financial liability is measured at initial recognition minus repayments, plus or minus any unamortized origination date premiums or discounts, plus or minus any basis adjustments resulting from a fair value hedge, and minus any reduction (directly or through the use of an allowance account) for impairment. The amount of a financial asset or liability measured at initial recognition is the cost of the financial asset or liability including capitalized transaction costs and deferred fees.
Assets under administration (AUA)
Assets administered by CIBC that are beneficially owned by clients and are, therefore, not reported on the consolidated balance sheet. Services provided by CIBC are of an administrative nature, such as safekeeping of securities, collection of investment income, and the settlement of purchase and sale transactions. In addition, AUM amounts are included in the amounts reported under AUA.
Assets under management (AUM)
Assets managed by CIBC that are beneficially owned by clients and are, therefore, not reported on the consolidated balance sheet. The service provided in respect of these assets is discretionary portfolio management on behalf of the clients.
Average interest-earning assets
Average interest-earning assets include interest-bearing deposits with banks, securities, cash collateral on securities borrowed or securities purchased under resale agreements, and loans net of allowances.
Basis point
One-hundredth of a percentage point (0.01%).
Collateral
Assets pledged to secure loans or other obligations, which are forfeited if the obligations are not repaid.
Collateralized debt obligation (CDO)
Securitization of any combination of corporate debt, asset-backed securities (ABS), mortgage-backed securities or tranches of other CDOs to form a pool of diverse assets that are tranched into securities that offer varying degrees of risk and return to meet investor demand.
Collateralized loan obligation
Securitizations of diversified portfolios of corporate debt obligations and/or ABS that are tranched into securities that offer varying degrees of risk and return to meet investor demand.
Credit derivatives
A category of financial instruments that allow one party (the beneficiary) to separate and transfer the credit risk of nonpayment or partial payment to another party (the guarantor).
Credit valuation adjustment (CVA)
A valuation adjustment that is required to be considered in measuring fair value of over-the-counter derivatives to recognize the risk that any given derivative counterparty may not ultimately be able to fulfill its obligations. In assessing the net counterparty credit risk exposure, we take into account credit mitigants such as collateral, master netting arrangements, and settlements through clearing houses.
Current replacement cost
The estimated cost of replacing an asset at the present time according to its current worth.
Derivatives
A financial contract that derives its value from the performance of an underlying object, such as an asset, index or interest rate.
Dividend payout ratio
Common dividends paid as a percentage of net income after preferred share dividends and premium on preferred share redemptions.
Dividend yield
Dividends per common share divided by the closing common share price.
| 186 | CIBC 2018 ANNUAL REPORT |
Effective interest rate method
A method of calculating the amortized cost of a financial asset or financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period, to the net carrying amount of the financial asset or financial liability.
Efficiency ratio
Non-interest expenses as a percentage of total revenue (net interest income and non-interest income). Efficiency ratio is used as a measure of productivity.
Exchange-traded derivative contracts
Standardized derivative contracts (e.g., futures contracts and options) that are transacted on an organized exchange and cleared through a central clearing house, and are generally subject to standard margin requirements.
Fair value
The price that would be received to sell an asset, or paid to transfer a liability, between market participants in an orderly transaction in the principal market at the measurement date under current market conditions.
Forward contracts
A non-standardized contract to buy or sell a specified asset at a specified price and specified date in the future.
Forward rate agreement
An OTC forward contract that determines an interest rate to be paid or received commencing on a specified date in the future for a specified period.
Full-time equivalent employees
A measure that normalizes the number of full-time and part-time employees, base plus commissioned employees, and 100% commissioned employees into equivalent full-time units based on actual hours of paid work during a given period, for individuals whose compensation is included in the Employee compensation and benefits line of the consolidated statement of income.
Futures
A standardized contract to buy or sell a specified commodity, currency or financial instrument of standardized quantity and quality at a specific price and date in the future. Futures contracts are traded on an exchange.
Guarantees and standby letters of credit
Primarily represent CIBC’s obligation, subject to certain conditions, to make payments to third parties on behalf of clients, if these clients cannot make those payments, or are unable to meet other specified contractual obligations.
Hedge
A transaction intended to offset potential losses/gains that may be incurred in a transaction or portfolio.
Loan loss ratio
The ratio is calculated as the provision for credit losses on impaired loans to average loans and acceptances, net of allowance for credit losses.
Mark-to-market
The fair value (as defined above) at which an asset can be sold or a liability can be transferred.
Net interest income
The difference between interest earned on assets (such as loans and securities) and interest incurred on liabilities (such as deposits and subordinated indebtedness).
Net interest margin
Net interest income as a percentage of average assets.
Normal course issuer bid
Involves a listed company buying its own shares for cancellation through a stock exchange or other published market, from time to time, and is subject to the various rules of the exchanges and securities commissions.
Notional amount
Principal amount or face amount of a financial contract used for the calculation of payments made on that contract.
Off-balance sheet financial instruments
A financial contract that is based mainly on a notional amount and represents a contingent asset or liability of an institution. Such instruments include credit-related arrangements.
Office of the Superintendent of Financial Institutions (OSFI)
OSFI supervises and regulates all banks, all federally incorporated or registered trust and loan companies, insurance companies, cooperative credit associations, fraternal benefit societies, and federal pension plans in Canada.
Operating leverage
Operating leverage is the difference between the year-over-year percent change in revenue (on a taxable equivalent basis) and year-over-year percent change in non-interest expenses.
| CIBC 2018 ANNUAL REPORT | 187 |
Options
A financial contract under which the writer (seller) confers the right, but not the obligation, to the purchaser to either buy (call option) or sell (put option) a specified amount of an underlying asset or instrument at a specified price either at or by a specified date.
Provision for credit losses
An amount charged or credited to income to adjust the allowance for credit losses to the appropriate level, for both performing and impaired financial assets. Provision for credit losses for loans and acceptances and related off-balance sheet loan commitments is included in the provision for credit losses line on the consolidated statement of income. Provision for credit losses for FVOCI debt securities and amortized cost securities is included in Gains (losses) from debt securities measured at fair value through other comprehensive income and amortized cost, net.
Return on average assets or average interest-earning assets
Net income expressed as a percentage of average assets or average interest-earning assets.
Return on common shareholders’ equity
Net income attributable to equity shareholders expressed as a percentage of average common shareholders’ equity.
Securities borrowed
Securities are typically borrowed to cover short positions. Borrowing requires the pledging of collateral by the borrower to the lender. The collateral may be cash or a highly rated security.
Securities lent
Securities are typically lent to a borrower to cover their short positions. Borrowing requires the pledging of collateral by the borrower to the lender. The collateral provided may be cash or a highly rated security.
Securities purchased under resale agreements
A transaction where a security is purchased by the buyer and, at the same time, the buyer commits to resell the security to the original seller at a specific price and date in the future.
Securities sold short
A transaction in which the seller sells securities that it does not own. Initially the seller typically borrows the securities in order to deliver them to the purchaser. At a later date, the seller buys identical securities in the market to replace the borrowed securities.
Securities sold under repurchase agreements
A transaction where a security is sold by the seller and, at the same time, the seller commits to repurchase the security from the original purchaser at a specific price and date in the future.
Structured entities (SE)
Entities that have been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.
Swap contracts
A financial contract in which counterparties exchange a series of cash flows based on a specified notional amount over a specified period.
Taxable equivalent basis (TEB)
The gross up tax-exempt revenue on certain securities to a TEB basis. There is an equivalent offsetting adjustment to the income tax expense.
Total shareholder return
The total return earned on an investment in CIBC’s common shares. The return measures the change in shareholder value, assuming dividends are reinvested in additional shares.
Risk and capital glossary
Advanced internal ratings-based (AIRB) approach for credit risk
Internal models based on historical experience of key risk assumptions such as probability of default (PD), loss given default (LGD) and exposure at default (EAD) are used to compute the capital requirements subject to OSFI approval. A transitional capital floor based on the Basel II standardized approach is also calculated by banks under the AIRB approach for credit risk and an adjustment to risk-weighted assets (RWAs) may be required as prescribed by OSFI.
Advanced measurement approach (AMA) for operational risk
A risk-sensitive approach to calculating the capital charge for operational risk based on internal risk measurement models, using a combination of quantitative and qualitative risk measurement techniques.
Asset/liability management (ALM)
The practice of managing risks that arise from mismatches between the assets and liabilities, mainly in the non-trading areas of the bank. Techniques are used to manage the relative duration of CIBC’s assets (such as loans) and liabilities (such as deposits), in order to minimize the adverse impact of changes in interest rates.
| 188 | CIBC 2018 ANNUAL REPORT |
Bail-in eligible liabilities
Bail-in eligible liabilities include long-term (i.e., original maturity over 400 days), unsecured senior debt that is tradable and transferrable, and any preferred shares and subordinated debt that are not considered non-viability contingent capital. Deposits, secured liabilities (for example, covered bonds), certain financial contracts (for example, derivatives) and most structured notes are not bail-in eligible.
Bank exposures
All direct credit risk exposures to deposit-taking institutions and regulated securities firms, and exposures guaranteed by those entities.
Business and government portfolio
A category of exposures that includes lending to businesses and governments, where the primary basis of adjudication relies on the determination and assignment of an appropriate risk rating, that reflects the credit risk of the exposure.
Central counterparties
Central counterparties, also known as clearing houses, place themselves between the buyer and seller of an original trade through the process of novation and become the counterparty for the novated transaction.
Common Equity Tier 1 (CET1), Tier 1 and Total capital ratios
CET1, Tier 1 and total regulatory capital, divided by RWAs, as defined by OSFI’s Capital Adequacy Requirements Guideline, which is based on Basel Committee on Banking Supervision (BCBS) standards. During the period beginning in the third quarter of 2014 to the fourth quarter of 2018, on an all-in basis, before any capital floor requirement, there are three different levels of RWAs for the calculation of CIBC’s CET1, Tier 1 and Total capital ratios. This occurs because of the option CIBC has chosen for the phase-in of the CVA capital charge.
Corporate exposures
All direct credit risk exposures to corporations, partnerships and proprietorships, and exposures guaranteed by those entities.
Credit risk
The risk of financial loss due to a borrower or counterparty failing to meet its obligations in accordance with contractual terms.
Drawn exposure
The amount of credit risk exposure resulting from loans already advanced to the customer.
Economic capital
Economic capital provides a framework to evaluate the returns of each strategic business unit, commensurate with risk assumed. Economic capital is a non-GAAP risk measure based upon an estimate of equity capital required by the businesses to absorb unexpected losses consistent with our targeted risk rating over a one-year horizon. Economic capital comprises primarily credit, market, operational and strategic risk capital.
Economic profit
A non-GAAP risk-adjusted performance measure used for measuring economic value added. It is calculated as earnings of each business less a charge for the cost of capital.
Exposure at default (EAD)
An estimate of the amount of exposure to a customer at the event of, and at the time of, default.
Incremental risk charge (IRC)
A capital charge applied in addition to market risk capital specifically to cover default and migration risk in unsecuritized credit assets of varying liquidity held in the trading book.
Internal Capital Adequacy Assessment Process (ICAAP)
A framework and process designed to provide a comprehensive view on capital adequacy, as defined by Pillar II of the Basel Accord, wherein we identify and measure our risks on an ongoing basis in order to ensure that the capital available is sufficient to cover all risks across CIBC.
Internal models approach for market risk
Models, which have been developed by CIBC and approved by OSFI, for the measurement of risk and regulatory capital in the trading portfolio for general market risk, debt specific risk, and equity specific risk.
Internal ratings-based (IRB) approach for securitization exposures
Capital calculation method for securitizations available to the banks approved to use the IRB approach for underlying exposures securitized. We use the IRB approach for securitization exposures, which comprises several calculation approaches (Ratings-Based, Supervisory Formula, and the Internal Assessment Approach).
Leverage exposure
For the purposes of the leverage ratio, exposure is defined under the rules as on-balance sheet assets (unweighted) less Tier 1 capital regulatory adjustments plus derivative exposures, securities financing transaction exposures with a limited form of netting under certain conditions, and other off-balance sheet exposures (such as commitments, direct credit substitutes, forward asset purchases, standby/trade letters of credit and securitization exposures).
Leverage ratio
Defined as Tier 1 capital divided by leverage exposure determined in accordance with guidelines issued by OSFI, which are based on BCBS standards.
| CIBC 2018 ANNUAL REPORT | 189 |
Liquidity coverage ratio (LCR)
Derived from the BCBS’ Basel III framework and incorporated into OSFI’s Liquidity Adequacy Requirements (LAR), the LCR is a liquidity standard that aims to ensure that an institution has an adequate stock of unencumbered High Quality Liquid Assets (HQLA) that consists of cash or assets that can be converted into cash at little or no loss of value in private markets, to meet its liquidity needs for a 30-calendar-day liquidity stress scenario.
Liquidity risk
The risk of having insufficient cash or its equivalent in a timely and cost-effective manner to meet financial obligations as they come due.
Loss given default (LGD)
An estimate of the amount of exposure to a customer that will not be recovered following a default by that customer, expressed as a percentage of the exposure at default. LGD is generally based on through-the-cycle assumptions for regulatory capital purposes, and generally based on point-in-time assumptions reflecting forward-looking information for IFRS 9 expected credit loss purposes.
Market risk
The risk of economic financial loss in our trading and non-trading portfolios from adverse changes in underlying market factors, including interest rates, foreign exchange rates, equity market prices, commodity prices, credit spreads and customer behaviour for retail products.
Master netting agreement
An industry standard agreement designed to reduce the credit risk of multiple transactions with a counterparty through the creation of a legal right of offset of exposures in the event of a default by that counterparty and through the provision for net settlement of all contracts through a single payment.
Non-viability contingent capital (NVCC)
Effective January 1, 2013, in order to qualify for inclusion in regulatory capital, all non-common Tier 1 and Tier 2 capital instruments must be capable of absorbing losses at the point of non-viability of a financial institution. This will ensure that investors in such instruments bear losses before taxpayers where the government determines that it is in the public interest to rescue a non-viable bank.
Operational risk
The risk of loss arising from people, inadequate or failed internal processes, and systems or from external events.
Other off-balance sheet exposure
The amount of credit risk exposure resulting from the issuance of guarantees and letters of credit.
Other retail
This exposure class includes all loans other than qualifying revolving retail and real estate secured personal lending, that are extended to individuals and small businesses under the regulatory capital reporting framework.
Over-the-counter (OTC) derivatives exposure
The amount of credit risk exposure resulting from derivatives that trade directly between two counterparties, rather than through exchanges.
Probability of default (PD)
An estimate of the likelihood of default for any particular customer which occurs when that customer is not able to repay its obligations as they become contractually due. PD is generally based on through-the-cycle assumptions for regulatory capital purposes, and generally based on point-in-time assumptions reflecting forward-looking information for IFRS 9 expected credit loss purposes.
Qualifying revolving retail
This exposure class includes credit cards, unsecured lines of credit and overdraft protection products extended to individuals. Under the standardized approach, these exposures would be included under “other retail”.
Real estate secured personal lending
This exposure class includes residential mortgages and home equity loans and lines of credit extended to individuals.
Regulatory capital
Basel III regulatory capital, as defined by OSFI’s Capital Adequacy Requirements Guideline, is comprised of Common Equity Tier 1 (CET1), Additional Tier 1 (AT1) and Tier 2 capital. CET1 capital includes common shares, retained earnings, accumulated other comprehensive income (AOCI) (excluding AOCI relating to cash flow hedges and changes to fair value option 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, deferred tax assets, net assets related to defined benefit pension plans, and certain investments. AT1 capital primarily includes NVCC preferred shares, qualifying instruments issued by a consolidated subsidiary to third parties, and non-qualifying innovative Tier 1 notes which are subject to phase-out rules for capital instruments. Tier 1 capital is comprised of CET1 plus AT1. 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. Total capital is comprised of Tier 1 capital plus Tier 2 capital. Under Basel III, qualifying regulatory capital instruments must be capable of absorbing loss at the point of non-viability of the financial institution; non-qualifying capital instruments are excluded from regulatory capital at a rate of 10% per annum commencing January 1, 2013 through to January 1, 2022.
Repo-style transactions exposure
The amount of credit risk exposure resulting from our securities bought or sold under resale agreements, as well as securities borrowing and lending activities.
| 190 | CIBC 2018 ANNUAL REPORT |
Reputation risk
The risk of negative publicity regarding CIBC’s business conduct or practices which, whether true or not, could significantly harm CIBC’s reputation as a leading financial institution, or could materially and adversely affect CIBC’s business, operations, or financial condition.
Retail portfolios
A category of exposures that primarily includes consumer but also small business lending, where the primary basis of adjudication relies on credit scoring models.
Risk-weighted assets (RWAs)
RWAs consist of three components: (i) RWAs for credit risk are calculated using the AIRB and standardized approaches. The AIRB RWAs are calculated using PDs, LGDs, EADs, and in some cases maturity adjustment, while the standardized approach applies risk weighting factors specified in the OSFI guidelines to on- and off- balance sheet exposures; (ii) RWAs for market risk in the trading portfolio are based on the internal models approved by OSFI with the exception of the RWAs for traded securitization assets where we are using the methodology defined by OSFI; and (iii) RWAs for operational risk relating to the risk of losses resulting from people, inadequate or failed internal processes, and systems or from external events are calculated under the AMA and standardized approaches. During the period beginning in the third quarter 2014 to the fourth quarter of 2018, CET1 capital RWA, Tier 1 capital RWA, and Total capital RWA, will differ due to 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. 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 is added to RWAs.
Securitization
The process of selling assets (normally financial assets such as loans, leases, trade receivables, credit card receivables or mortgages) to trusts or other SEs. An SE normally issues securities or other forms of interest to investors and/or the asset transferor, and the SE uses the proceeds of the issue of securities or other forms of interest to purchase the transferred assets. The SE will generally use the cash flows generated by the assets to meet the obligations under the securities or other interests issued by the SE, which may carry a number of different risk profiles.
Sovereign exposures
All direct credit risk exposures to governments, central banks and certain public sector entities, and exposures guaranteed by those entities.
Standardized approach for credit risk
Applied to exposures when there is not sufficient information to allow for the use of the AIRB approach for credit risk. Credit risk capital requirements are calculated based on a standardized set of risk weights as prescribed in the Basel Accord. The standardized risk weights are based on external credit assessments, where available, and other risk related factors, including export credit agencies, exposure asset class, collateral, etc.
Standardized approach for operational risk
Capital is based on prescribed percentages that vary by business activity and is applied to the three-year average gross income.
Strategic risk
The risk of ineffective or improper implementation of business strategies, including mergers and acquisitions. It includes the potential financial loss due to the failure of organic growth initiatives or failure to respond appropriately to changes in the business environment.
Stressed Value-at-Risk
A value-at-risk calculation using a one-year observation period related to significant losses for the given portfolio at a specified level of confidence and time horizon.
Structural foreign exchange risk
Structural foreign exchange risk primarily consists of the risk inherent in net investments in foreign operations due to changes in foreign exchange rates; and foreign currency denominated risk-weighted assets and foreign currency denominated capital deductions.
Structural interest rate risk
Structural interest rate risk primarily consists of the risk arising due to mismatches in assets and liabilities, which do not arise from trading and trading-related businesses.
Total loss absorbing capacity (TLAC)
The sum of Total Capital and bail-in-eligible liabilities that have residual maturity greater than or equal to one year.
Undrawn exposures
The amount of credit risk exposure resulting from loans that have not been advanced to a customer, but which a customer may be entitled to draw in the future.
Value-at-Risk (VaR)
Generally accepted risk measure that uses statistical models to estimate the distribution of possible returns on a given portfolio at a specified level of confidence and time horizon.
| CIBC 2018 ANNUAL REPORT | 191 |
Fiscal Year
November 1st to October 31st
Key Dates
Reporting dates 2019
First quarter results – Thursday, February 28, 2019
Second quarter results – Wednesday, May 22, 2019
Third quarter results – Thursday, August 22, 2019
Fourth quarter results – Thursday, December 5, 2019
Annual Meeting of Shareholders 2019
CIBC’s Annual Meeting of Shareholders will be held on Thursday, April 4, 2019 at 9:30 a.m. (Eastern Daylight Time) in Montreal at the Centre Mont-Royal, Symposia Theatre, Main Floor, 1000 Sherbrooke St. W., Montreal, Quebec, Canada, H3A 0A6.
Common shares of CIBC (CM) are listed on the Toronto Stock Exchange and the New York Stock Exchange. Preferred shares are listed on the Toronto Stock Exchange.
Dividends
Quarterly dividends were paid on CIBC common and preferred shares in 2018:
Common shares
| Ex-dividend date | Record date | Payment date | Dividends per share | Number of common shares on record date | ||||||
| Sep 27/18 |
Sep 28/18 |
Oct 29/18 |
$1.36 |
442,392,608 |
||||||
| Jun 27/18 |
Jun 28/18 |
Jul 27/18 |
$1.33 |
443,272,873 |
||||||
| Mar 27/18 |
Mar 28/18 |
Apr 27/18 |
$1.33 |
444,629,834 |
||||||
| Dec 27/17 |
Dec 28/17 |
Jan 29/18 |
$1.30 |
442,056,838 |
||||||
Preferred shares
| Stock | Series 39 | Series 41 | Series 43 | Series 45 | Series 47 | |||||
| Ticker symbol |
CM.PR.O |
CM.PR.P |
CM.PR.Q |
CM.PR.R |
CM.PR.S | |||||
| Quarterly dividend |
$0.243750 |
$0.234375 |
$0.225000 |
$0.275000 |
0.281250 |
2019 dividend payment dates
(Subject to approval by the CIBC Board of Directors)
| Record dates | Payment dates | |
Eligible dividends
CIBC designates any and all dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes to be paid on or after January 1, 2006 to be “eligible dividends”, unless otherwise indicated in respect of dividends paid subsequent to this notification, and hereby notifies all recipients of such dividends of this designation.
Normal course issuer bid
CIBC is conducting a normal course issuer bid to purchase common shares for cancellation in the open market at market price until the earlier of: (i) CIBC purchasing 9 million common shares: (ii) CIBC providing a notice of termination, or (iii) June 3, 2019. A copy of the Notice of Intention to Make a Normal Course Issuer Bid that CIBC filed with the Toronto Stock Exchange may be obtained without charge by contacting the Corporate Secretary.
Regulatory capital
Information on CIBC’s regulatory capital instruments and regulatory capital position may be found at www.cibc.com; About CIBC; Investor Relations; Regulatory Capital Instruments.
Credit ratings
Credit rating information can be found on page 74 in this Annual Report.
Shareholder investment plan
All Canadian and U.S. resident registered holders of CIBC common shares and designated Class A preferred shares may participate in one or more of the following options and pay no brokerage commissions or service charges:
Dividend reinvestment option – Canadian residents may have dividends reinvested in additional CIBC common shares.
Share purchase option – Canadian residents may purchase up to $50,000 of additional CIBC common shares during the fiscal year.
Stock dividend option – U.S. residents may elect to receive stock dividends on CIBC common shares.
Further information is available through AST Trust Company (Canada) (formerly CST Trust Company) and on the CIBC website at www.cibc.com.
Transfer agent and registrar
For information relating to shareholdings, shareholder investment plan, dividends, direct dividend deposit, dividend reinvestment accounts and lost certificates, or to eliminate duplicate mailings of shareholder material, please contact:
AST Trust Company (Canada), P.O. Box 700, Postal Station B, Montreal, QC, H3B 3K3
416 682-3860 or 1 800 258-0499 (Canada and the U.S. only), Fax 1 888 249-6189, Email: inquiries@astfinancial.com, Website: www.astfinancial.com.
Common and preferred shares are transferable in Canada at the offices of our agent, AST Trust Company (Canada), in Toronto, Montreal, Calgary and Vancouver.
In the United States, common shares are transferable at:
Computershare Inc., By Mail: P.O. Box 43078 Providence, RI 02940-3078; By Overnight Delivery: 250 Royall Street, Canton, MA 02021, 1 800 589-9836, Website: www.computershare.com/investor.
| 192 | CIBC 2018 ANNUAL REPORT |
Board of Directors:
| The Hon. John P. Manley, P.C., O.C. Chair of the Board CIBC Ottawa, Ontario, Canada Joined in 2005 |
Brent S. Belzberg (CGC, RMC) Senior Managing Partner TorQuest Partners Toronto, Ontario, Canada Joined in 2005 |
Nanci E. Caldwell (MRCC) Corporate Director Woodside, California, U.S.A. Joined in 2015 |
Michelle L. Collins (RMC) President Cambium LLC Chicago, Illinois, U.S.A. Joined in 2017 | |||
| Patrick D. Daniel (CGC, MRCC) Past President and Chief Executive Officer Enbridge Inc. Calgary, Alberta, Canada Joined in 2009 |
Luc Desjardins (AC) President and Chief Executive Officer Superior Plus Corp. Toronto, Ontario, Canada Joined in 2009 |
Victor G. Dodig President and Chief Executive Officer CIBC Toronto, Ontario, Canada Joined in 2014 |
Linda S. Hasenfratz (MRCC – Chair) Chief Executive Officer Linamar Corporation Guelph, Ontario, Canada Joined in 2004 | |||
| Kevin J. Kelly (AC) Corporate Director Toronto, Ontario, Canada Joined in 2013 |
Christine E. Larsen (AC) Executive Vice President and Chief Operations Officer First Data Corporation New York, New York, U.S.A. Joined in 2016 |
Nicholas D. Le Pan (AC) Corporate Director Ottawa, Ontario, Canada Joined in 2008 |
Jane L. Peverett (AC – Chair, CGC) Corporate Director West Vancouver, British Columbia, Canada Joined in 2009 | |||
| Katharine B. Stevenson (CGC – Chair, MRCC) Corporate Director Toronto, Ontario, Canada Joined in 2011 |
Martine Turcotte (CGC, RMC) Vice Chair, Québec BCE Inc. and Bell Canada Verdun, Québec, Canada Joined in 2014 |
Ronald W. Tysoe (RMC) Corporate Director Cincinnati, Ohio, U.S.A. Joined in 2004 |
Barry L. Zubrow (RMC – Chair) President ITB LLC Far Hills, New Jersey, U.S.A. Joined in 2015 | |||
AC – Audit Committee
CGC – Corporate Governance Committee
MRCC – Management Resources and Compensation Committee
RMC – Risk Management Committee
| 194 | CIBC 2018 ANNUAL REPORT |
| This ‘40-F’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 1/1/22 | ||||
| 12/5/19 | 40-F, 424B2, 6-K | |||
| 10/28/19 | 424B2 | |||
| 9/27/19 | 424B2, FWP | |||
| 8/22/19 | 424B2, 6-K | |||
| 7/29/19 | 424B2, FWP | |||
| 6/28/19 | 11-K, F-10, FWP | |||
| 6/3/19 | 424B2, FWP | |||
| 5/22/19 | 424B2, 6-K | |||
| 4/29/19 | 424B2 | |||
| 4/4/19 | 424B2, 6-K, FWP | |||
| 3/28/19 | 424B2, FWP | |||
| 2/28/19 | 424B2, 6-K | |||
| 1/28/19 | 424B2 | |||
| 12/28/18 | 424B2, FWP | |||
| Filed on: | 11/29/18 | 6-K | ||
| For Period end: | 10/31/18 | |||
| 1/1/13 | ||||
| 1/1/06 | ||||
| List all Filings | ||||