Fourth Quarter 2022 Financial Highlights
Canadian Mortgages Renewing in the Next 12 Months
The portfolio is resilient to interest rate increases, with renewal metrics stable QoQ
•
There are $28B of mortgages renewing in the next 12 months based on current terms - $20B fixed and $8B variable. 72% of $28B
is uninsured
As interest rates rise, most of our variable rate mortgages with fixed payments are impacted through an extension of amortization
until renewal
At renewal, the mortgage reverts to the original amortization schedule, which may require additional payments
Proactive outreach included a number of programs and initiatives throughout the year to help our clients through a rising rate
environment
$28B mortgages renewing in the next 12 months
$234B
1
Clients at higher risk comprises shallower relationship clients and FICO score < 650.
CIBC
Uninsured mortgages for clients at higher risk¹ renewing in the next
12 months by LTV bands
$140MM
Variable
$120MM
Rate, $8B
$100MM
■ Variable
Fixed
$80MM
$60MM
$40MM
$20MM
$OMM
Fixed Rate,
$20B
<20
20-30
30-40
40-50
50-60
60-70
70-80
≥80
Less than $20MM comprising balances with higher risk clients and LTVs ≥ 70%
Higher risk clients renewing in the next 12 months account for $336MM
Fourth Quarter, 2022
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