The CBC ran a piece with the headline “What happens to mortgages, banking if Alberta were to separate?”

It’s a fair enough question to ask. But the premise of those asking is usually to try to instill doubt among independence supporters that their assets would be protected upon the dissolution of the federation.

Financial institutions have been dealing with changing international borders for centuries. They deal with local governments, they deal with foreign governments, and they deal with other financial institutions both foreign and domestic.

In today’s electronic world, borders have become nearly invisible as far as monetary assets and debt are concerned. Banks have few issues when it comes to dealing with conversions or transferring funds over borders. They are very integrated and dozens if not hundreds of banks have branches in more than one country.

Half of Toronto Dominion’s current revenue comes from its operations in the United States. They are well experienced in international operations.

In the event of Alberta voting Yes in a binding referendum (not the current non-binding one), it would begin the process of negotiating the province’s exit from the federation. This could take months, or years.

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An Albertans' mortgage payment would be due the same day the month after a Yes vote as it was the day before, and the bank accounts would remain the same. Banks would then examine how they will want to deal with the budding new nation.

Canadian banks with branches in multiple provinces could choose to remain in Alberta under what would presumably be a similar regulatory structure to those in most developed countries, or they could sell their assets to other banks and leave.

With the economic clout carried by Alberta, it’s unlikely banks would choose to depart. All the same, individual assets and debts will be protected.

There are modern precedents to be followed. When Czechoslovakia split into the Czech Republic and Slovakia, the banking system adapted and people maintained their mortgages, accounts, and property.

There will be financial flux if and when Alberta votes for independence. The Canadian currency will likely take a dip, and some investment will be chilled until the financial structure of the new nation is formally established. In the long term, things will stabilize.

People won’t be losing their homes, their bank accounts or their debt for that matter if Alberta becomes independent.

The largest risk toward and violation of the bank accounts of Albertans came from the Canadian government when it seized citizens accounts during the trucker-led Freedom Convoy protests.

Alberta’s independence could protect from future actions such as that.