CIBC completes missing TLAC link in the dollar market

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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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