CIBC’s VAR hits highest since 2008 amid interest rate risk surge

Client and market-making activities responsible for 44% increase

Canadian Imperial Bank of Commerce (CIBC) saw its value-at-risk spike to a 16-year high at the end of April, driven by a surge in interest rate risk.

One-day regulatory VAR – the most CIBC estimates it could lose over a one-day period – reached C$15 million ($11 million) on April 30, up 44.2% from the previous quarter. The quarterly average VAR rose by 39% to C$13 million. Both figures were the highest since 2008.

!function(e,n,i,s){var d="InfogramEmbeds";var o=e.getElementsByTagName(n)[0];if

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a 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 individual account here