CIBC Subprime Investments `Well Below' U$2.6 Billion

Bloomberg, Doug Alexander, 10 July 2007Canadian Imperial Bank of Commerce, Canada's fifth-largest lender, said its investments in the U.S. subprime mortgage market are ``well below'' the $2.6 billion cited in some news reports.``CIBC does not disclose individual securities positions but confirms its previous statement to the media that its unhedged exposure to this sector is well below $2.6