CIBC's Barbados woes incur $44 million capital charge

Outstanding loans to the troubled government of Barbados forced the Canadian Imperial Bank of Commerce (CIBC) to add C$57 million ($44 million) to its credit risk capital requirement through end-July.

The Barbadian government announced it would restructure its public debt in June after finding its existing liabilities were worse than previously thought. CIBC subsidiary FirstCaribbean International Bank held $506 million of Barbados sovereign loans and securities as of end-March. 

The Canadian

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: