Exactly.
It works in the following way. The bank accounts originate in any national bank or government bank. In the Canadian case, it could be RBC, TD, or BMO. For those people who have open bank accounts, who may have passed away or something else and haven't accessed those funds for a period of 10 years, the funds get redirected to the Bank of Canada, which then holds them for 30 years. Then, if these are never touched, the money goes into the consolidated revenue fund of the Government of Canada through the Receiver General.