Canadian Imperial Bank of Commerce CM

John Zechner - BNN - BUY

[Possibleidiot01]

BUY

Canadian Imperial Bank of Commerce(CM-T)

01/10/2024

 

It's been at a discount from all its peers but that is eroding due to them beating earnings. His preferred Canadian bank.

banks

 

N/A

Owned

[gassygeezer]

I'm long CM,TD,BMO but seldom dig into details. I am curious as to Bail in requirements in the unlikely event of a default of a major bank, which i doubt happening but if so, does the conversion to common stock over cdic covered limits apply to the major banks lower fee subsiduaries, ie tangerine,simplii? The rep's i spoke to there are not familiar with Bail in provisions, "have to

[gassygeezer]

For those interested beware Simplii financial just confirmed to me anything over 100000 does NOT bail into common stocck of cccibc, you lose anything above the max cdic whereas bail in applies to cibc deposits