The Globe and Mail reports in its Friday edition that Toronto-Dominion Bank and CIBC joined their peers in ratcheting up reserves for loans that could default, with risk in commercial real estate, credit cards and personal lending products rising as consumers wrestle with high interest rates and inflation. The Globe's Stefanie Marotta writes that TD and CIBC posted first-quarter profit Thursday that beat analysts' estimates, even as customers crimp their spending and wait for interest rates to drop. Analysts have cautioned that CIBC could face higher risk in its U.S. commercial real estate portfolio -- which has the highest exposure to the sector of the Big Six banks -- as valuations slump in office properties. "As the economy evolves our allowance levels remain strong and provide us prudent levels of coverage," said Frank Guse, CIBC's chief risk officer, during a conference call Thursday. In the quarter, CIBC set aside $585-million in provisions for credit losses. That was higher than analysts expected, and included $93-million against loans that are still being repaid. TD set aside $1-billion in provisions, also higher than analysts expected, and included $67-million against loans that are still being repaid.