CIBC today reported it has credit exposure to Enron Corp. the troubled U.S. energy trading giant. CIBC said it faces US$215 million US in credit exposure to Enron, with just over half of that unsecured.
CIBC also reported that it is not revising the guidance which it provided on November 26 with respect to its current view that fiscal 2002 specific credit provisions are expected to be approximately 10% higher than experienced in fiscal 2001.
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