Again, that's a very clear question. In ordinary course and in stressful times the value of a bank's market capitalization, which is the value of its shares, will fluctuate. In ordinary and in stressful times where there is profitability, headwinds that are fully transparent on a listed exchange, then the value of those shareholdings will fluctuate whether Canadians own them directly or indirectly. That's just a common share, which is not being touched here.
A debt security will have a value on its own for a period of time that will be repaid and will not necessarily fluctuate. There will be some impacts on the secondary markets if the bail-in is converted, in the sense that the value of the common share will obviously decline to some degree. To the extent to which any asset or any fund has exposure to any of the debt securities they will also decline. In that case you're converting a debt to a potential common share, which may have future value.
It would be very rare for average Canadians to have direct exposure to big bank debt securities. Generally large asset managers and pension funds own them on a very diversified funding basis, and even funds, mutual funds and others that Canadians may be exposed to that have the debt security side rather than the equity side are likely highly diversified if not to the whole banking sector, let alone an individual bank.
Of course, if the bank were to get into trouble, whether or not we have a bail-in regime, the value of those instruments in the capital market will adjust appropriately.
As last comments, one, we would hope that any Canadian would get the advice they need to prudently manage their exposure to any financial instruments, and two, trading in the secondary market for debt securities is quite transparent to all the large players in the market.