RE:Raising Bank’s Tax from 15% to 18% for Earning More than $1BTaxes are an expense line on the income statement. When expenses go up costs to customers go up. Maybe not the full amount but some of that increased expense will be clawed from cutomers bank accounts.
I think both Prince Justins announcement and the bombing of US troops in Afganistan were the causes of the drop.
Also one must consider the increase in BMO and CM before the earnings announcements were substantial.