CIBC Expects Write-down of ~$190 Million After Tax

Financial Post, Grant Surridge, 14 August 2007Canadian Imperial Bank of Commerce confirmed its exposure to the U.S. subprime-mortgage market yesterday -- sending the stock up more than 5% before it settled lower amid a broader market downturn -- but some would have wanted the bank to provide more details.CIBC announced it would take a writedown of about $290-million ($190-million after tax) on