Five of Canada’s major banks—Royal Bank of Canada, Toronto-Dominion, Scotiabank, Canadian Imperial Bank of Commerce and Bank of Montreal—have been impacted by the financial crisis, the Financial Times reports. Many are expected to announce big writedowns this week.

Bank of Montreal has tripled loan loss provisions to $376 million for the fourth-quarter. Scotiabank has disclosed it will take a pre-tax charge of $683million on its structured finance and trading businesses.

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