Jon Erlichman

Anchor

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The U.S. presidential campaign’s latest stop is New York. Ninety-five Republican and 291 Democratic delegates are up for grabs in the Empire State’s presidential primaries on Tuesday. Banks like CIBC (CM.TO), TD (TD.TO), and RBC (RY.TO) have a healthy presence in New York -- and it’s safe to say bank executives will be keen observers of who the state throws its support behind.

As the campaign rolls along, here are four ways Canadian banks could be affected by the outcome of this November’s election:

REGULATION

Democratic candidate Bernie Sanders is not a fan of Wall Street, pushing to break up the big banks. While attempts to move away from “too big to fail” institutions could spell new opportunities for Canadian banks, it could also just mean more regulatory headaches.

CROSS-BORDER DEALS

Republican candidate Donald Trump trash talks lobbyists seeking to make political contributions, while Hillary Clinton’s paid speeches for Wall Street firms (including some Canadian banks) have been heavily scrutinized. Cross-border deals are big money makers for the banks. Anti-trade actions could limit some of those lucrative fees.

LOONIE

Canadians love traveling stateside. New York alone gets millions of visitors from Canada each year. If currency markets take a skeptical view of this November’s election and punish the U.S. dollar, Canadians may swap loonies for greenbacks. And Canadian banks make plenty of money swapping currencies.

U.S. ECONOMY

At the end of the day, candidates seen as being friendly for the economy could be the best bet for Canadian banks. After all, the U.S retail operations of banks like TD depend on good old fashioned banking business -- like lending to consumers and businesses.