Investor Relations - Fixed Income Presentation
RBC Covered Bond Program
RBC
Globally Active
■ Active program in five different currencies: EUR,
CAD, USD, CHF and AUD
C$22 billion currently outstanding
■ Five benchmark transactions since July 2013:
EUR 1.5 billion 5-year
US$1.75 billion 3-year
AUD 1.25 billion 3-year
US$2 billion 5-year
EUR 2 billion 7-year
Canadian Legislative Changes
■ New 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 beginning
June 2014
Strong Issuer
Largest Canadian bank by market capitalization
Strong credit ratings; Aa3/AA-/AA/AA(¹)
■ Well capitalized and consistent profitability
■ Well diversified business mix
U.S. Registration
■ U.S. covered bond program is SEC registered
Issued US$7.75 billion across four deals since
September 2012
- Index eligible and Trace eligible
Investor Relations - Fixed Income Presentation
(1) Ratings by Moody's, S&P, Fitch and DBRS, respectively.
19View entire presentation