The fates of the two U.S. ABCP conduits administered by CIBC World Markets are still in question, though apparently CIBC is retaining the staff necessary to keep the conduits on course for natural amortization as the underlying facilities expire.

Of particular interest is the fate of the some odd $1.4 billion in senior CDO positions held in one of CIBC's conduits, much of which won't mature before the liquidity facilities expire. Whether or not CIBC will be permitted to renew the lines per its settlement with regulators is unclear (see below). Officials at CIBC did not return phone calls as of press time last Thursday night.

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