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BMO: Suspicious Activity As Recession Risk Increases. Why Is The Bank Doing This?The study estimates that at some point during the crisis, three of Canada's banks�CIBC, BMO, and Scotiabank�were completely under water, with government support. Bank of Montreal (TSX:BMO) stock slipped more than 11% in March after the US banking crisis created a selloff in bank stocks. At this juncture, it appears that the collapse of SVB and Signature Bank is more about their specific exposures and internal risk management.