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Canadian Imperial Bank of Commerce ANNUAL INFORMATION FORM
Canadian Imperial Bank of Commerce ANNUAL INFORMATION FORM December 4, 2019 TABLE OF CONTENTS 2 A NOTE ABOUT FORWARD-LOOKING STATEMENTS 3 INFORMATION INCORPORATED BY REFERENCE 3 CORPORATE STRUCTURE 3 Name, Address and Incorporation 3 Intercorporate Relationships 3 DESCRIPTION OF THE BUSINESS 3 The CIBC Organization 4 Competitive Conditions 4 Social and Environmental Policies 4 Risk Factors 4 GENERAL DEVELOPMENT OF THE BUSINESS 4 Three Year History 5 DIVIDENDS 5 CAPITAL STRUCTURE 5 Description of Common Shares 5 Description of Preferred Shares 6 Certain Conditions of the Class A Preferred Shares as a Class 6 Bank Act (Canada) Restrictions Related to Share Ownership 7 Liquidity and Credit Ratings 8 MARKET FOR SECURITIES 8 Trading Prices and Volume 8 Prior Sales 9 Escrow Securities 9 DIRECTORS AND OFFICERS 9 Directors and Board Committees 9 Executive Officers 9 Shareholdings of Directors and Executive Officers 10 Corporate Cease Trade Orders or Bankruptcies 10 Penalties or Sanctions 10 Personal Bankruptcies 10 Conflicts of Interest 10 LEGAL PROCEEDINGS AND REGULATORY ACTIONS 10 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS 10 TRANSFER AGENT AND REGISTRAR 10 EXPERTS 11 AUDIT COMMITTEE 11 Education and Experience 11 PRE-APPROVAL POLICIES AND PROCEDURES 12 FEES FOR SERVICES PROVIDED BY SHAREHOLDERS’ AUDITOR 12 ADDITIONAL INFORMATION 13 Appendix A: Rating Definitions 15 Appendix B: Audit Committee Mandate CIBC 2019 Annual Information Form 1 A NOTE ABOUT FORWARD-LOOKING STATEMENTS From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this Annual Information Form, in other filings with Canadian securities regulators or the U.S. -
Sir Edmund Walker
SIR EDMUND WALKER C. W. COLBY BORN in 1848, Sir Edmund Walker belonged to the generation which was just coming to manhood when the Dominion of Canada took the place of British North America. As he joined the staff of the Canadian Bank of Commerce less than thirteen months after Confederation, it may be said that his career coincided exactly with the period which has elapsed since Canada undertook to become a nation of the modem world. This fact has more meaning than could be attached to a mere chronological coincidence. It may be associated with the central motive of his life. Starting out at a moment when patriotism was in the air, he became a patriot in the fullest sense. There seems never to have been a time when public spirit did not inspire his aspirations and impel his acts. Through out fifty-six years of incessant effort he continued to plan and give and build for the benefit of Canada. Lord Milner has said that when he thinks of the British Empire he does not feel impelled to wave a flag, but rather to go off by him self in a corner and pray. Sir Edmund Walker's patriotism was of the same character. At least it lacked wholly the flamboyant quality which one associates with fervid rhetoric and boisterous flag-waving. Moreover with him, as with the Benedictine monk. to labour was to pray. He built up a great bank, and had every possible opportunity to secure information, by the most legitimate means, which through thought and planning could be made to yield large personal profits in cash. -
The Canadian Banking System, 1890-1966
JACK CARR FRANK MATHEWSON NEIL QUIGLEY Stabilityin the Absenceof DepositInsurance: The CanadianBanking System, 1890 1966 THESTABILITY OF THE CANADIAN BANKING SYSTEM in the period before the introductionof formaldeposit insurancein 1967, and in particular, the Canadianbanks' immunityfrom the crisis that afflictedthe U.S. bankingsystem in the GreatDepression, are well known. Between 1890 and 1966, only twelve Ca- nadian charteredbanks failed; six of these failures resulted in losses to the deposi- tors. No bank failures occurredafter the suspensionof the Home Bank of Canadain 1923. Explanationsfor the relative stability of Canadianbanking have focused on the structureof the system, particularlythe economies of scale and portfolio diver- sification achieved by the large branch banks in Canada (Friedmanand Schwartz 1963; Haubrich1990) and the creationof a governmentrediscount facility in 1914. Some (Bordo 1986; Shearer, Chant, and Bond 1984; White 1983) suggestthat the Canadianfederal authoritiesand the CanadianBankers Association (CBA) implic- itly guaranteedbank deposits by arrangingmergers. Most recently, Kryzanowski and Roberts (1993, p. 362) claim that all of the major Canadianbanks were insol- vent during the 1930s, and explain the absence of a banking crisis by the fact that the Canadiangovernment provided "an implicit one hundredpercent guaranteeof bank deposits." The authorsthank the staff of The Bank of Nova Scotia Archives, The CanadianBankers Association Library,and the NationalArchives of Canadafor their assistance in compiling our data. Michael Bordo, John Chant, Ian Drummond,Ron Shearer,anonymous referees, and participantsat the l9th Conference on the Use of QuantitativeMethods in CanadianEconomic Historyprovided helpful comments. Funding for this research was provided by the Institutefor Policy Analysis at the University of Torontoand the University of Westem Ontarioas partof a largerproject on deposit insurancein Canada(CalT, Mathew- son, and Quigley 1994a). -
From Next Best to World Class: the People and Events That Have
FROM NEXT BEST TO WORLD CLASS The People and Events That Have Shaped the Canada Deposit Insurance Corporation 1967–2017 C. Ian Kyer FROM NEXT BEST TO WORLD CLASS CDIC—Next Best to World Class.indb 1 02/10/2017 3:08:10 PM Other Historical Books by This Author A Thirty Years’ War: The Failed Public Private Partnership that Spurred the Creation of the Toronto Transit Commission, 1891–1921 (Osgoode Society and Irwin Law, Toronto, 2015) Lawyers, Families, and Businesses: A Social History of a Bay Street Law Firm, Faskens 1863–1963 (Osgoode Society and Irwin Law, Toronto, 2013) Damaging Winds: Rumours That Salieri Murdered Mozart Swirl in the Vienna of Beethoven and Schubert (historical novel published as an ebook through the National Arts Centre and the Canadian Opera Company, 2013) The Fiercest Debate: Cecil Wright, the Benchers, and Legal Education in Ontario, 1923–1957 (Osgoode Society and University of Toronto Press, Toronto, 1987) with Jerome Bickenbach CDIC—Next Best to World Class.indb 2 02/10/2017 3:08:10 PM FROM NEXT BEST TO WORLD CLASS The People and Events That Have Shaped the Canada Deposit Insurance Corporation 1967–2017 C. Ian Kyer CDIC—Next Best to World Class.indb 3 02/10/2017 3:08:10 PM Next Best to World Class: The People and Events That Have Shaped the Canada Deposit Insurance Corporation, 1967–2017 © Canada Deposit Insurance Corporation (CDIC), 2017 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior written permission of the publisher. -
BANK MERGERS: IS BIGGER BETTER? Introduction
BANK MERGERS: IS BIGGER BETTER? Introduction In January 1998, the Bank of Montreal and the Royal Bank of Canada announced plans to merge and create one superbank. A few months later, in April, the Toronto Dominion Bank and the Canadian Imperial Bank of Commerce announced similar plans. The proposed bank mergers caught many people off guard, including Minister of Finance Paul Martin. In a Macleans interview, Martin said, "Just because they decided to get into bed together doesnt mean that I have to bless their union." Martins message seemed to be that Ottawa, not the banks, would decide the future of banking in Canada. "There will be no mergers in the banking sector until we are convinced that [it] is what is best for Canadians, and we will not be stampeded into making that decision." According to the banks, the proposed mergers were a natural response to a changing and highly competitive global marketplace. Mergers, they said, provide a way of maintaining a strong Canadian presence in the banking industry. Certainly, recent technological advances have dramatically changed the manner in which the financial services industry conduct their business, and the above- mentioned banks feel, therefore, that they need to be bigger to compete and to have a substantial presence in the global banking community. Martin himself acknowledged the changed nature of banking when he said, "If you look back at banking five years ago, you might as well look back two centuries." While the proposed bank mergers brought attention to the challenges facing Canadas banks, these challenges are not peculiar to the banks alone. -
The Canadian Bank of Commerce
THE CANADIAN BANK OF COMMERCE HEAD OFFICE - TORONTO. ONTARIO CAPITAL PAID-UP REST DIRECTORS: HON. GEO. A. COX. PRESIDENT. ROBERT KILGOUR. EsQ., - VICE-PRESIDENT. JAMES CRATHERN, ESQ. MATTHEW LEGGAT, ESQ. WM. B. HAMILTON. ESQ. JOHN HOSKIN. ESQ.. Q.C., LL.D. JOSEPH W. FLAVELLE, ESQ. W. E. H. MASSEY, ESQ. A. KINGMAN. ESQ. B. E. WALKER. General Manager. J. H. PLUMMER, Asst. General Manager. A. H. IRELAND,Inspector and Superintendent of Branches. V. C. BROWN. Asst. Inspector. BRANCHES AND AGENCIES ONTARIO- AYR ....................... .JOHN WYLLIE.. ........Agent. BARRIE .................... H. J. GRASETT......... Manager. BELLEVILLE.. .............c. M. STORK.. ......... BERLIN .................... E. P. GOWER........... BLENHEIM ................ .G. A. HOLLAND........ BRANTFORD ...............JEFFERY HALE.. ....... CAYUGA ...................W. C. T. MORSON...... CHATHAM ................. J. E. THOMAS.......... COLLINGWOOI). .......... .JAS. BRYDON........... DRESDEN ................ ..R. T. MUSSEN ......... DUNDAS ................... .J. L. BARNUM.. ........ DUNNVILLE .............. .R. G. W. CONOLLY.. ... FORT FRANCES ...........I. A. SMITH.. .......... GALT .......................D. H. CHARLES........ GODERICI~ ............... .R. S. WILLIAMS.. ...... GUELPH ....................J. M. DUFF.. ........... HAMILTON ................ WM. ROBERTS.. ........ LONDON.. ................. .D. B. DEWAR .......... ORANGEVILLE ............F. Y. CHECKLEY....... OTTAWA ...................ROBERT GILL.. ......... PARIS ......................R. C. MACPHERSON... -
REVISED HAMILTON MUNICIPAL HERITAGE COMMITTEE REPORT 14-009(A) 12:00 P.M
REVISED HAMILTON MUNICIPAL HERITAGE COMMITTEE REPORT 14-009(a) 12:00 p.m. Thursday, August 21, 2014 Council Chambers 71 Main Street West Present: A. Denham-Robinson (Chair), Councillor M. Pearson, M. Adkins, W. Arndt, P. Wilson, W. Furlan, S. Nowak Absent: Councillor B. McHattie – City Business Councillor L. Ferguson – City Business K. Wakeman, W. Rosart, R. Sinclair THE HAMILTON MUNICIPAL HERITAGE COMMITTEE PRESENTS REPORT 14- 009(a) AND RESPECTFULLY RECOMMENDS: 1. Implementation of the Recommendations of the Downtown Built Heritage Inventory Project (PED14191) (a) That the properties listed in Schedule 1 of Appendix “A” attached hereto to the Hamilton Municipal Heritage Committee Report 14-009(a) be included in the Register of Property of Cultural Heritage Value or Interest as non- designated properties; (b) That staff be directed to add the properties listed in Schedule 2 of Appendix “A” attached hereto to the Hamilton Municipal Heritage Committee Report 14-009(a) to the staff’s work program for designation; (c) That Schedule 3 of Appendix “A” attached hereto to the Hamilton Municipal Heritage Committee Report 14-009(a) be approved as amended to include the Candidates for Designation; PLANNING COMMITTEE – September 16, 2014 Hamilton Municipal Heritage Committee August 21, 2014 Report 14-009(a) Page 2 of 2 (d) That staff be directed to prepare a Capital Budget Submission to be brought forward in the 2015 Budget Deliberations to address the work program for designation, as per Schedule 3 of Appendix “A” attached hereto to the Municipal -
Private Bankers in Ontario Hayseed Capitalists: Private Bankers in Ontario
HAYSEED CAPITALISTS: PRIVATE BANKERS IN ONTARIO HAYSEED CAPITALISTS: PRIVATE BANKERS IN ONTARIO by STEPHEN EDWARD mORNING, B.A., M.A. A Thesis Submitted to the School of Graduate Studies in Partial Fulfilment of the Requirements for the Degree Doctor of Philosophy McMaster University August, 1994 -- -- --- - --------------- DOCTOR OF PHILOSOPHY (1994) McMASTER UNIVERSITY (History) Hamilton, Ontario TITLE: Hayseed Capitalists: Private Bankers in Ontario AUTHOR: Stephen Edward Thorning, B.A. (University of Guelph) M.A. (McMaster University) SUPERVJSOR: Professor John C. Weaver NUMBER OF PAGES: viii, 502 ii ABSTRACT The structure of the Canadian banking system, and the establishment of strong chartered banks at a relatively early stage, have overshadowed banking institutions that operated outside the chartered system. The non-chartered or private banks can be categorized into three groups: the joint stock banks of the 1830s, the urban private bankers who appeared in the 1850s and after, and the small-town private banks of the post-1868 period. AJI three types of private banks were established to fill perceived niches in the chartered bank system. Those of the 1830s possessed an anti-establishment, hinterland bias. The urban private bankers specialized in savings and foreign exchange transactions, and often branched out into insurance, debentures, and ultimately stocks and bonds. The small town private banks began and prospered when the needs of small hinterland communities outpaced the inclination and ability of chartered banks to provide them with banking facilities. Unlike the urban private bankers, those in small towns offered a full range of banking services, and they often acted as insurance and real estate agencies as well. -
64 Canadian Banks and Their Branches
64 Canadian Banks and their Branches. Location. Bank. Manager or Agent. Halifax People's Bank of Halifax, head office . Peter Jack, cashr. Bank of British North America Jeffry Penfold. Bank of Montreal F. Gundry. Hamilton . Canadian Bank of Commerce John C. Kemp. Bank of Hamilton H.C. HammondjCshr. Bank of Montreal T. R. Christian. Merchants'Bank of Canada A. M. Crombie. Bank of British North America Thomas Corsan. Consolidated Bank of Canada J. M. Burns. Exchange Bank of Canada C. M. Counsell. Ingersoll., The Molsons Bank W. Dempster. Merchants' Bank of Canada D. Miller. Imperial C. S. Hoare. Joliette . Hochelaga Bank N. Boire. Exchange Bank of Canada R. Terroux, jnr. Kingston . Bank of British North America G. Durnford. Bank of Montreal K. M. Moore. Merchants' Bank of Canada D. Fraser. Kincardine Merchants' Bank of Canada T. B. P. Trew. Kentville, N. S.. Bank of Nova Scotia L. O. V. Chipman. Liverpool, N. S.. Bank of Liverpool R, S. Sternes, cshr. Lockport People's Bank of Halifax Austin Locke. Lunenburg Merchants' Bank of Halifax Austin Locke. Listowell Hamilton Bank W. Corbould Levis Merchants' Bank I. Wells. London Merchants'Bank of Canada W. F. Harper. Bank of Montreal F. A. Despard. Canadian Bank of Commerce H. W. Smylie. Bank of British North America Oswald Weir. The Molsons Bank. Joseph Jeffrey. Federal Bank of Canada Charles Murray. Standard Bank A. H. Ireland. Lindsay. Bankol Montreal , C. M. Porteous. Ontario Bank S. A. McMurtry. Lucan Canada Bank of Commerce J. E. Thomas. Maitland, N. S. Merchants' Bank of Halifax David Frieze. Markliam Standard Bank F. -
The Next Step in Small and Medium Enterprise Lending
THE NEXT STEP IN SMALL AND MEDIUM ENTERPRISE LENDING David Alexander Stroud B. Com., University of British Columbia, 1997 A PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION In the Faculty of Business Administration EMBA Program O David Alexander Stroud 2004 SIMON FRASER UNIVERSITY August 2004 All rights reserved. This work may not be reproduced in whole or in part, by photocopy or other means, without permission of the author. ABSTRACT This project examines the business lending industry in Canada and the strategic direction of the small and medium enterprise (SME) lending business of the Toronto- Dominion Bank Financial Group (TDBFG). TDBFG is one of the largest schedule I banks in Canada, however its market share of the SME lending market is substantially less than its market share in other business segments. This paper will assess the current environment in which the Bank operates and identify key success factors in the SME financing business. It will then present TDBFG's optimal strategy going forward as well as an alternative strategy. An evaluation of TDBFG's current internal capabilities will determine whether the Bank is capable of executing the optimal strategy or should instead undertake alternative strategy. Presently the SME customer category is served by both the small business banking arm of the TD Canada Trust and the TD Commerial bank and as a result any recommended solutions will focus on these two business units. APPROVAL Name: David Stroud Degree: Master of Business Administration The Next Step in Small and Title of Thesis: Medium Enterprise Lending Supervisory Committee: Dr. -
Rule D4 Institution Numbers and Clearing Agency/Representative Arrangements
RULE D4 INSTITUTION NUMBERS AND CLEARING AGENCY/REPRESENTATIVE ARRANGEMENTS 2021CANADIAN PAYMENTS ASSOCIATION This Rule is copyrighted by the Canadian Payments Association. All rights reserved, including the right of reproduction in whole or in part, without express written permission by the Canadian Payments Association. Payments Canada is the operating brand name of the Canadian Payments Association (CPA). For legal purposes we continue to use “Canadian Payments Association” (or the Association) in these rules and in information related to rules, by-laws, and standards. RULE D4 – INSTITUTION NUMBERS AND CLEARING AGENCY/REPRESENTATIVE ARRANGEMENTS TABLE OF CONTENTS IMPLEMENTED ............................................................................................... 3 AMENDMENTS PRE-NOVEMBER 2003 ........................................................ 3 AMENDMENTS POST-NOVEMBER 2003 ..................................................... 3 INTRODUCTION ................................................................................................................. 6 ELIGIBILITY......................................................................................................................... 6 INSTITUTION NUMBERS ................................................................................................... 6 AMALGAMATION AND ACQUISITION .............................................................................. 6 NON-MEMBER ENTITIES .................................................................................................. -
Imperial Bank of Canada
Imperial Bank of Canada Head Office : Toronto ESTABLISHED 1875 CAPITAL A UTHORIZED . $10,000,000.00 Thirty-Fifth AnnwZ deport 1910 IMPERIAL BANK OF CANADA. ESTABLISHED 1875 Capital (Authorized) $10,000.000.00 Capital (paid up) $5,000.000.00 Reserve Fund and Undivided Profits $5.700.000.00 DIRECTORS: D. R. WILKIE.. ............................PRESIDENT. HON.ROBERT JAFFRAY.. ........... .VICE-PRESIDENT. WM. RAMSAY of Bowland, Stow. Scotland. ELIAS ROGERS. J. KERR OSBORNE. PELEG HOWLAND. WM. WHYTE, Winnipeg. CAWTHRA MULOCK. HON.RICHARD TURNER. Quebec. WM. HAMILTON MERRITT. M.D., St. Catharines. W. J. GAGE. HEAD OFFICE, TORONTO. D. R. WILKIE, GENERALMANAGER. E. HAY, ASST.GENERAL MANAGER. W. MOFFAT, CHIEFINSPECTOR. A. E. PHIPPS. G. D. BOULTON. R. S. CLARK. INSPECTORS. W. S. ELLIOTT. SECRETARYTO GENERAL MANAGER. BRANCHES : NIAGARA-ON-THE-LAKE.. .. NORTH BAY.. ............... OTTAWA. ................... PALGRAVE. ................. PORT ARTHUR .............. PORT COLBORNE.. .......... PORT ROBINSON. ........... RIDGEWAY.. ................ SAULT STE. MARIE.. ........ SOUTH WOODSLEE.. ........ ST. CATHARINES.. .......... (MARKET) . J. A. FORSTER.. ...a,... ST. DAVIDS.. ................ C. W. PATERSON ........ ST. THPMAS.. ............... J. D. HOOD.. ........... (EAST END). ... C. A. LOVE.. ............ THESSALON. ................ W. McGUIRE.. .......... WELLAND.. ................. G. C. BROWN.. ......... WOODSTOCK. ............... H. P. TAYLOR.. ........ Province of Quebec- MONTREAL.. ................................J. A. RICHARDSON.. .......