LOOSE CHANGE

- By FX Markets Staff
- @FXMarkets_
- 11 Apr 1994

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Canadian Imperial Bank of Commerce has announced a five-year plan that will meld its corporate and investment banking operations (including Wood Gundy) into "Canada's first integrated global investment bank." The plan will expand CIBC/Wood Gundy's capabilities in derivatives and bolster its mix of currency products, officials say. The combined organisation is expected to be fully-integrated within the next 12 months.

The Federal Reserve Bank of New York reports a $76.9 million profit on foreign

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