How much of the risks to banks hold?

There's no doubt that Canadian banks have extracted a mountain of fees from the energy sector. They can easily absorb a change there but what would hurt them badly would be direct exposure via loans and bonds. They should be relatively sheltered but that's what they said about US banks before the mortgage crisis.

In other Canadian news, the finance minister will reveal some updated forecasts later today in an unscheduled announcement. Expect poor numbers as a justification for running large budget deficits.