Canadian Imperial Bank of Commerce T.CM

Alternate Symbol(s): CM | T.CM.PR.Q | T.CM.PR.P | T.CM.PR.S

Financial Services

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has over 14 million personal banking, business, public sector and institutional clients in Canada, the United States and around the world. The Company has four strategic business units (SBUs): Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services. Its Canadian Personal and Business Banking provides personal and business clients across Canada with financial advice, services and solutions through banking centers, as well as mobile and online channels. Its Canadian Commercial Banking and Wealth Management provides relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals and families across Canada, as well as asset management services to institutional investors.

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Canadian Imperial Bank of Commerce

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Post by Tokatoon Dec 19, 2007 9:44am

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Post# 14044312

MS takes $9B writedown: Clean-out key

This is the key fact: Morgan Stanley said it had about $1.8 billion worth of subprime mortgage exposure left on its books at the end of the quarter on Nov. 30, down from $10.4 billion at Aug. 31. MS did the worst case scenario writing-off the majority of subprime and getting this out of the way. This is what CM needs to do! Take the $5B writedown and do a $2B equity issue

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