Canada's big five banks - Royal Bank of Canada, Toronto-Dominion, Scotiabank, Canadian Imperial Bank of Commerce and Bank of Montreal - have not been immune to the turmoil in global banking.

Several, if not all, will announce big writedowns this week as part of their results for the fiscal year ended October 31. Bank of Montreal, which reported last Tuesday, tripled fourth-quarter loan loss provisions to C$465m ($376m).