Investor Presentation
Positioned to benefit from rising rates
Year 1 benefit of $454 million to our net interest income from an immediate and sustained 100 bps increase as
at January 31, 2022, with approximately 60% driven by short rates
Year 2 benefit from rising rates (+100 bps) of approximately $840MM, driven primarily by long rates
Net Interest Income Sensitivity to
a +100 bps Shock ($MM) 1
Interest Rate Environment in Canada and the U.S.
3.5
3
CAD² 380
2.5
USD 74
2
1.5
Total
Year 1
1
454
0.5
0
Year 2
Total
840
Feb-17
Jun-17
Nov-17
Mar-18
Aug-18
Jan-19
May-19
Oct-19
Feb-20
CIBC
1 A number of assumptions are used to measure Structural Interest Rate Sensitivity. For additional information, see the "Market risk” Non-trading activities section on page 32 in the Q1/22 Management's discussion
and analysis, available on SEDAR at www.sedar.com. 2 Includes CAD and other currency exposures.
Jul-20
Source: Bloomberg
-CAD 5-YR Swap Rate
BoC Overnight Rate
USD 5-YR Swap Rate
Fed Funds Rate
Dec-20
Apr-21
Sep-21
Jan-22
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