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May 08, 2019  

CIBC Offering More Leverage

CIBC is positioning its nascent U.S. prime-brokerage unit to better compete with Wall Street banks.Starting this month, the Toronto bank is offering hedge fund clients in the U.S. “enhanced” leverage capabilities, enabling them to finance a wider variety of assets with less counterparty risk. Using its C$464 billion ($350 billion) balance sheet, CIBC will lend against hard-to-finance investments managed by multi-asset, multi-strategy...

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