Third Quarter 2023 Financial Results Overview
Interest Rate Sensitivity
Well-positioned for higher interest rates
Net Interest Income Sensitivity to
a +/- 100 bps change ($MM)1
Year 1
SBU Composition of Structural
Interest Rate Sensitivity 1,2
1%
414
(396)
Interest Rate Environment in
Canada and the U.S.3
Historic
6.00
Actuals
18%
5.00
4.00
3.00
Q3/23
54%
17%
2.00
1.00
10%
+100 bps
- 100 bps
Personal & Business Banking
U.S. Commercial & Wealth
Cdn. Commercial & Wealth
Capital Markets
Corporate & Other
Oct-17
Apr-18
Oct-18-
Apr-19
Oct-19
Apr-20
Oct-20
Apr-21
Oct-21
Apr-22
Oct-22
Apr-23-
Oct-23
CAD 5-YR Swap Rate
BoC Overnight Rate
USD 5-YR Swap Rate
Fed Funds Rate
Year 1 benefit of approximately $414MM from an immediate and sustained 100 bps increase to our net interest income as at July 31,
2023, with approximately 60% driven by short-term rates
•
Year 2 benefit from rising rates (+100 bps) of approximately $700MM, driven primarily by long rates
Year 1 impact of approximately -$396MM from an immediate and sustained 100 bps decrease to our net interest income as at July 31,
2023, with approximately 60% from short-term rates
Endnotes are included on slides 46 to 51.
CIBC
Third Quarter, 2023
Implied
Forwards
Apr-24
Oct-24
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