Economic Backdrop and Financial Performance Objectives
RBC Covered Bond Program
Globally Active
Active program in six different currencies: EUR, CAD,
USD, CHF, AUD and GBP
C$68.2BN currently outstanding
Strong Issuer
☐
Largest Canadian bank by market capitalization
Strong credit ratings
Well capitalized and consistent historical profitability
■ Well diversified business mix
Canadian Legislative Changes
Canadian legislation protects claims of covered bond
investors and overrides any other conflicting law related
to bankruptcy and insolvency
Extensive regulatory oversight and pool audit
requirements
Mandatory property value indexation
U.S. Market
■ Active U.S. dollar covered bond issuer
☐
Several benchmark bonds outstanding
Broad U.S. investor base
Issued US$26.1BN across twelve deals since
September 2012
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Trace eligible
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