First Quarter, 2024 Earnings Report
Endnotes
First quarter 2024
Slide 40 - Canadian Uninsured Residential Mortgages
1.
Starting Q2/23, our primary credit score provider is TransUnion as opposed to Equifax in the prior quarters. The scores are not identical, so score distributions up to Q1/23 are not directly comparable to score distributions from Q2/23 and onwards. This change in credit score
provider had no material impacts on provision for credit losses.
LTV ratios for residential mortgages are calculated based on weighted average. See page 27 of the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com for further details.
2.
3.
GVA and GTA definitions based on regional mappings from Teranet.
Slide 41 - Canadian Uninsured Residential Mortgages - Q3/23 Originations
1.
2.
3.
4.
Originations include refinancing of existing mortgages but not renewals.
LTV ratios for residential mortgages are calculated based on weighted average. See page 27 of the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com for further details.
GVA and GTA definitions based on regional mappings from Teranet.
Starting Q3/23, our primary credit score provider is TransUnion as opposed to Equifax in the prior quarters. The scores are not identical, so score distributions up to Q2/23 are not directly comparable to score distributions starting Q3/23 and onwards. This change in credit score
provider had no material impacts on provision for credit losses.
Slide 42-Canadian Mortgage Renewal Profile
1.
Clients at higher risk comprises shallower relationship clients and credit bureau score < 650. Starting Q2/23, our primary credit score provider is TransUnion.
Slide 43 Commercial Real Estate
1.
Includes $4.4B in Multi Family that is reported in residential mortgages in the Supplementary Financial Information package.
2.
Includes US$1.9B in loans that are reported in other industries in the Supplementary Financial Information package but are included here because of the nature of the security.
3.
Incorporates security pledged; equivalent to S&P/Moody's rating of BBB-/Baa3 or higher. In Q1/23, CIBC Bank USA Loans were re-rated, and converted from the Legacy CIBC Bank USA internal rating methodology to the CIBC internal risk rating methodology. The internal risk
rating system gives more benefit to certain secured loans and less benefit to certain higher risk loans, which had a significant impact on the risk ratings for these exposures.
Slide 44 Commercial Real Estate - Multi-Family Loans
Includes $4.4B in Multi Family that is reported in residential mortgages in the Supplementary Financial Information package.
1.
2.
Excludes accounts with no LTV.
3.
Watchlist is classified as loans CCC+ to C by S&P Global Rating Standards.
Slide 45 Trading Revenue (TEB) Distribution
1.
See note 11 on slide 56.
Slide 46 Forward Looking Information
1.
See page 63 of the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com for further details.
Slide 47 Items of Note
1.
This item of note reports the impact on consolidated income tax expense that could be subject to an adjustment to our reported results in future periods if a Federal tax proposal were to be substantively enacted in its current form. The corresponding impact on TEB in Capital
Markets and Direct Financial Services and Corporate and Other is also included in this item of note with no impact on the consolidated item of note.
Slide 48 - Reconciliation
1.
See note 11 on slide 56.
2.
Adjusted results are non-GAAP measures. See slide 55 for further details.
3.
See note 22 on slide 57.
CIBCâ—‡
First Quarter, 2024
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