CIBC issues statement regarding the Canadian Asset-Backed Commercial Paper Market
TORONTO, Aug. 16 /CNW/ - CIBC today issued the following statement regarding the Asset-Backed Commercial Paper market in Canada. "CIBC confirms its support of its bank-sponsored Asset-Backed Commercial Paper programs (Crisp Trust; Franchise Trusts I and II; Macro Trust; Safe Trust; Smart Trust; and Sound Trust.) "In addition, CIBC said that while its direct holdings in the third-party Asset Backed Commercial Paper Market are not significant, CIBC is supportive of the industry restructuring and orderly resolution of the non-bank Asset Backed Commercial Paper market in Canada." A NOTE ABOUT FORWARD-LOOKING STATEMENTS This news release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements about our operations, financial condition, strategies and outlook of CIBC. A forward-looking statement is subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many of which are beyond CIBC's control could cause actual results to differ materially from the expectations expressed in CIBC's forward-looking statements. Readers should not place undue reliance on CIBC's forward-looking statements. CIBC does not undertake to update any forward-looking statement that is contained in this news release.
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For further information: Investor Relations: John Ferren, (416) 980-2088; Media Relations: Rob McLeod, (416) 980-3714