CIBC completes missing TLAC link in the dollar market

By David Rothnie
28 Mar 2019

Canadian Imperial Bank of Commerce (CIBC) has become the last big Canadian bank to hit the dollar market with a deal to comply with the country’s new bail-in regime.

CIBC followed the format set by rivals, printing a five year senior bond eligible for the total loss-absorbing capacity (TLAC) requirement, as Yankee borrowers added to a recent funding run in the dollar market. Bank spreads have tightened ...

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