Order Providing for Minimum Capacity to Absorb Losses

Bank Act

Pursuant to subsection 485(1.2) of the Bank Act, I, on behalf of the Superintendent of Financial Institutions, provide that Canadian Imperial Bank of Commerce’s minimum capacity to absorb losses is as follows. Canadian Imperial Bank of Commerce shall maintain capital and prescribed shares and prescribed liabilities that equal at least:

  1. 21.5 per cent of risk-weighted assets; and
  2. 6.75 per cent of leverage ratio exposures,

calculated pursuant to the Office of the Superintendent of Financial Institution’s Total Loss Absorbing Capacity Guideline, as amended from time to time.

This Order is effective November 1, 2021.

Date: August 21, 2018

Carolyn Rogers
Assistant Superintendent, Regulation Sector