TD, CIBC said most exposed to telecom

Article Abstract:

According to a report by Standard & Poor's Corp., Canadian Imperial Bank of Commerce and Toronto-Dominion Bank have the world's highest relative exposures to the telecommunications sector. Both banks have lent roughly 25% of their tangible equity base to non-investment-grade telecom companies.

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Banks big junk bond lenders

Article Abstract:

The Top 10 list of banks worldwide that lend junk debt to the cable and telecommunications industries includes three from Canada: Toronto-Dominion Bank, Bank of Nova Scotia and Canadian Imperial Bank of Commerce.

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CIBC poised for big gain

Article Abstract:

Canadian Imperial Bank of Commerce's sale of 10 million shares of Global Crossing stock is expected to have a positive impact on the company's third quarter 2000 results.

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