CIBC Q1 2019 Fixed Income Investor Presentation
Liquidation to Resolution Comparison
Liquidation Scenario
Bail-in debt ranks pari passu with
all other senior unsecured
liabilities.
Resolution Scenario
Bail-in debt is partially or fully
converted into common shares.
No Creditor Worse Off
No creditor shall incur greater
losses than under insolvency
proceedings. Bank shareholders
and creditors may seek
compensation should they be left
worse off as a result of CDIC's
actions to resolve a failed bank
than they would have been if the
bank had been liquidated.
CIBC Q1 2019 Fixed Income Investor Presentation
Loss Absorption Waterfall
AT 1
Instruments
Liquidation
Securitizations, Covered Bonds
Deposits
Legacy Senior Debt
Common Equity
Tier 2
Structured Notes
Legacy (not
NVCC)
Preferred
Shares
Derivatives
Bail-in Debt
AT 1
Instruments
Common Equity
Deposits
Resolution
Securitizations, Covered Bonds
Legacy Senior Debt
Bail-in Debt
Tier 2
Legacy (not
NVCC)
Preferred
Shares
CIBC
Structured Notes
Derivatives
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