Canadian Bail-in Regime Update

Canadian House Prices • Absolute price level is moderate compared to major global urban centers • Canadian debt to income ratio in line with many developed nations 300 • Growth rates of house prices in Canada have diverged across regions 250 CIBC 200 Household Debt to Income Ratio4 Household Debt to Income Ratio -Average Average Home Price 150 Region CAD1 USD Eq.² YoY % Change³ 100 Canada 659K 50 491K 4% Toronto 1066K 794K 1% Vancouver 1161K Norway Denmark Netherlands 865K 6% Calgary 40% 558K 415K 9% -Montreal 30% Montreal Housing Index Year over Year Change, by City5 -Canada Toronto -Ottawa Vancouver Quebec -Calgary -Halifax 509K 379K 5% 20% Ottawa 622K 463K 3% Australia Sweden Canada U.K. France Ireland Japan U.S. Germany 10% 1. Source: CREA, January 2024 234 2. 1 USD = 1.3425 CAD 3. Source: Teranet - National Bank House Price Index 0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 -10% -20% 4. Source: OECD, 2022 or latest available. Household debt ratios across countries can be significantly affected by different institutional arrangements, among which tax regulations regarding tax deductibility of interest payments. Source: Bloomberg, Teranet - National Bank House Price Index 5. 33

View entire presentation