RBC CM Upgrades CIBC to Sector Perform

RBC Capital Markets, 29 September 2008The introduction of the Troubled Asset Relief Program could lead to stabilization in the value of structured finance assets, as it appears that the U.S. Government might purchase assets at prices that could turn out to be higher than market value.� We believe the U.S. Government is in a bind because buying the assets at market value would likely force banks