It seems that his blatant power grab via the “Emergencies Act” scared LOTS of Canadian citizens….
What with modern internet banking, there is no reason to have your money in Canada…you can use credit cards to pay most of your bills, and transfer what monies you need for cash or checks to a local account via wire transfers or ACH. Better to keep it in the US where (so far, at least) the Rule of Law still exists….
I am told that in excess of 850 million dollars was moved to new accounts out of the country in the 2 days by private individuals. This frightened the banks greatly.
I expect that the trend of withdrawals will continue, and that the damage to the bank’s solvency will not recover in the near future.