Exhibit 99.1

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

This report contains information regarding assets pledged as security (the Cover Pool) in respect of the obligations under the Covered Bonds issued under RBC’s Global Covered Bond Programme as of the indicated Calculation Date.  The composition of the Cover Pool will change as Loans are added and removed from the Cover Pool from time to time and, accordingly, the characteristics and performance of the Loans in the Cover Pool will vary over time.  Certain of the information set forth in this report, including credit bureau scores, current ratings and “The Teranet-National Bank House Price Index™” Methodology has been obtained from and is based upon sources believed by RBC and the Guarantor LP to be accurate, however, neither RBC nor the Guarantor LP makes any representation or warranty, express or implied, in relation to the accuracy, completeness or reliability of such information or assumes any liability for any errors or any reliance you place on such information.  Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance.  The information contained in this report does not constitute an invitation or recommendation to invest or otherwise deal in, or an offer to sell or the solicitation of an offer to buy or subscribe for, any security, which will be made only by a prospectus or otherwise in accordance with applicable securities laws.  Reliance should not be placed on the information herein when making any decision to buy, hold or sell any security or for any other purpose.

THESE COVERED BONDS HAVE NOT BEEN APPROVED OR DISAPPROVED BY CANADA MORTGAGE HOUSING CORPORATION (CMHC) NOR HAS CMHC PASSED UPON THE ACCURACY OR ADEQUACY OF THIS REPORT. THE COVERED BONDS ARE NOT INSURED OR GUARANTEED BY CMHC OR THE GOVERNMENT OF CANADA OR ANY OTHER AGENCY THEREOF.

The Cover Pool is owned by RBC Covered Bond Guarantor Limited Partnership (Guarantor LP), which has no liabilities or claims outstanding against it other than those relating to the RBC Covered Bond Programme. Please click on the link below for additional information about the RBC Covered Bond Programme and the information contained herein. For the meaning of capitalized terms used and not otherwise defined in this report, click the following link and go to the Glossary tab in the Monthly Investor Report section: http://www.rbc.com/investorrelations/fixed_income/covered-bonds-terms.html

In this report, currency amounts are stated in Canadian dollars (“$”), unless otherwise specified.

Programme Information
Outstanding Covered Bonds
	Initial		C$	Final
Series	Principal Amount	Translation Rate	Equivalent	Maturity Date(1)	Interest Basis	Rate Type
CB2	€ 1,250,000,000	1.5070000 C$/€	$1,883,750,000	1/22/2018	4.625%	Fixed
CB6	$1,100,000,000	N/A	$1,100,000,000	3/30/2018	3.770%	Fixed
CB7	CHF 500,000,000	1.1149700 C$/CHF	$557,485,000	4/21/2021	2.250%	Fixed
CB8	US$2,500,000,000	0.9762000 C$/US$	$2,440,500,000	9/19/2017	1.200%	Fixed
CB11	€ 2,000,000,000	1.3650000 C$/€	$2,730,000,000	8/4/2020	1.625%	Fixed
CB13	US$2,000,000,000	1.0300000 C$/US$	$2,060,000,000	10/1/2018	2.000%	Fixed
CB14	€ 1,500,000,000	1.4175000 C$/€	$2,126,250,000	10/29/2018	1.250%	Fixed
CB15	€ 1,000,000,000	1.4694000 C$/€	$1,469,400,000	6/19/2019	0.750%	Fixed
CB16	AU$750,000,000	1.0024000 C$/AU$	$751,800,000	9/23/2019	3 month BBSW +0.57%	Floating
CB17	US$1,750,000,000	1.0972000 C$/US$	$1,920,100,000	9/23/2019	2.200%	Fixed
CB18	US$2,000,000,000	1.2520000 C$/US$	$2,504,000,000	2/5/2020	1.875%	Fixed
CB19	$1,500,000,000	N/A	$1,500,000,000	3/23/2020	3 month BA +0.36%	Floating
CB20	$700,000,000	N/A	$700,000,000	3/23/2020	1.590%	Fixed
CB21	€ 1,000,000,000	1.3870000 C$/€	$1,387,000,000	6/17/2022	0.875%	Fixed
CB22	€ 279,500,000	1.4017000 C$/€	$391,775,150	7/21/2031	1.652%	Fixed
CB23	£400,000,000	1.9872000 C$/£	$794,880,000	7/20/2018	3 month £ Libor +0.28%	Floating
CB24	US$500,000,000	1.2986000 C$/US$	$649,300,000	7/23/2018	3 month USD LIBOR +0.30%	Floating
CB25	€ 1,250,000,000	1.4899000 C$/€	$1,862,375,000	12/16/2020	0.500%	Fixed
CB26	US$1,750,000,000	1.3027000 C$/US$	$2,279,725,000	10/14/2020	2.100%	Fixed
CB27	€ 410,500,000	1.4525000 C$/€	$596,234,800	12/15/2034	1.616%	Fixed
CB28	€ 100,000,000	1.5370000 C$/€	$153,700,000	1/14/2036	1.625%	Fixed
CB29	£350,000,000	1.8915000 C$/£	$662,025,000	3/11/2019	3 month £ Libor +0.50%	Floating
CB30	€ 1,500,000,000	1.4808000 C$/€	$2,221,200,000	3/11/2021	0.125%	Fixed
CB31	US$1,750,000,000	1.3266000 C$/US$	$2,321,550,000	3/22/2021	2.300%	Fixed
CB32	$2,000,000,000	N/A	$2,000,000,000	4/26/2019	1.400%	Fixed
CB33	£100,000,000	1.7199000 C$/£	$171,990,000	9/14/2021	3 month £ ICE Libor +0.40%	Floating
Total			$37,235,039,950
OSFI Covered Bond Limit			$44,786,064,040
Weighted average maturity of Outstanding Covered Bonds (months)				41.35
Weighted average remaining term of Loans in Cover Pool (months)				28.34
Series Ratings		Moody's	DBRS	Fitch
CB2		Aaa	AAA	AAA
CB6		Aaa	AAA	AAA
CB7		Aaa	AAA	AAA
CB8		Aaa	AAA	AAA
CB11		Aaa	AAA	AAA
CB13		Aaa	AAA	AAA
CB14		Aaa	AAA	AAA
CB15		Aaa	AAA	AAA
CB16		Aaa	AAA	AAA
CB17		Aaa	AAA	AAA
CB18		Aaa	AAA	AAA
CB19		Aaa	AAA	AAA
CB20		Aaa	AAA	AAA
CB21		Aaa	AAA	AAA
CB22		Aaa	AAA	AAA
CB23		Aaa	AAA	AAA
CB24		Aaa	AAA	AAA
CB25		Aaa	AAA	AAA
CB26		Aaa	AAA	AAA
CB27		Aaa	AAA	AAA
CB28		Aaa	AAA	AAA
CB29		Aaa	AAA	AAA
CB30		Aaa	AAA	AAA
CB31		Aaa	AAA	AAA
CB32		Aaa	AAA	AAA
CB33		Aaa	AAA	AAA
(1) An Extended Due for Payment Date twelve-months after the Final Maturity Date has been specified in the Final Terms of each Series. The Interest Basis specified in this report in respect of each Series applies until the Final Maturity Date for the relevant Series following which the floating rate of interest specified in the Final Terms of each Series is payable monthly in arrears from the Final Maturity Date to but excluding the Extended Due for Payment Date.

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 1 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Supplementary Information
Parties to RBC Global Covered Bond Programme
Issuer	Royal Bank of Canada
Guarantor entity	RBC Covered Bond Guarantor Limited Partnership
Servicer & Cash Manager	Royal Bank of Canada
Swap Providers	Royal Bank of Canada
Covered Bond Trustee & Custodian	Computershare Trust Company of Canada
Asset Monitor	PricewaterhouseCoopers LLP
Account Bank & GDA Provider	Royal Bank of Canada
Standby Account Bank & GDA Provider	Bank of Montreal
Paying Agent(1)	The Bank of New York Mellon
(1) The Paying Agent in respect of Series CB7 is Credit Suisse AG.  The Paying Agent in respect of Series CB19 and Series CB20 is Royal Bank of Canada.
Royal Bank of Canada's Ratings(1) (2)
	Moody's	DBRS	Fitch
Senior Debt	Aa3	AA	AA
Subordinated Debt	A3	AA (low)	AA-
Short-Term	P-1	R-1 (high)	F1+
Rating Outlook	Negative	Negative	Negative
Applicable Ratings of Standby Account Bank & Standby GDA Provider(2)
	Moody's	DBRS	Fitch
Senior Debt	P-1	R-1 (high) / AA	F-1+ / AA-
Description of Ratings Triggers(2) (3)
A. Party Replacement
If the rating(s) of the Party falls below the level stipulated below, such party is required to be replaced or in the case of the Swap Providers (i) transfer credit support and (ii) replace itself or obtain a guarantee for its obligations.
Role (Current Party)	Moody's	DBRS	Fitch
Account Bank/GDA Provider (RBC)	P-1	R-1(mid) & AA(low)	F1 / A
Standby Account Bank/GDA Provider (BMO)	P-1	R-1(mid) & AA(low)	F1 / A
Cash Manager (RBC)	P-2	BBB(low) (long)	F2 / BBB+
Servicer (RBC)	Baa3 (long)	BBB(low) (long)	F2
Interest Rate Swap Provider (RBC)	P-2 / A3	R-2(high) & BBB(high)	F3 / BBB-
Covered Bond Swap Provider (RBC)	P-2 / A3	R-2(high) & BBB(high)	F3 / BBB-
B. Specified Rating Related Action
i. The following actions are required if the rating of the Cash Manager (RBC) falls below the stipulated rating
	Moody's	DBRS	Fitch
(a) Asset Monitor is required to verify the Cash Manager's calculations of the Asset Coverage/Amortization test on each Calculation Date	Baa3 (long)	R-1(mid) & A(low)	BBB- (long)
(b) Amounts received by the Cash Manager are required to be deposited directly into the Transaction Account	P-1	R-1(mid) & AA(low)	F1 / A
(c) Amounts received by the Servicer are to be deposited directly to the GIC Account and not provided to the Cash Manager	P-1	R-1(mid) & AA(low)	F1 / A
ii. The following actions are required if the rating of the Servicer (RBC) falls below the stipulated rating
a) Servicer is required to hold amounts received in a separate account and transfer them to the Cash Manager or GIC Account, as applicable, within 2  business days	P-1	R-1(mid) & AA(low)	F1 / A
iii. The following actions are required if the rating of the Issuer (RBC) falls below the stipulated rating
	Moody's	DBRS	Fitch
(a) Repayment of the Demand Loan	N/A	N/A	F2 / BBB+
(b) Establishment of the Reserve Fund	P-1	R-1(mid) & A(low)	F1 / A
iv. The following actions are required if the rating of the Issuer (RBC) falls below the stipulated rating
	Moody's	DBRS	Fitch
(a) Cash flows will be exchanged under the Covered Bond Swap Agreement (to the extent not already occurring) except as otherwise provided in the Covered Bond Swap Agreement	Baa1 (long)	BBB(high) (long)	BBB+ (long)
v. Each Swap Provider is required to replace itself, transfer credit support or obtain a guarantee of its obligations if the rating of such Swap Provider falls below the specified rating
	Moody's	DBRS	Fitch
(a) Interest Rate Swap Provider	P-1 / A2	R-1(mid) & A(high)	F1 / A
(b) Covered Bond Swap Provider	P-1 / A2	R-1(mid) & A(high)	F1 / A
Events of Default & Triggers
Asset Coverage Test (C$ Equivalent of Outstanding Covered Bonds < Adjusted Aggregate Asset Amount)		Pass
Issuer Event of Default		No
Guarantor LP Event of Default		No
(1) Subordinated Debt ratings are not the subject of any ratings related actions or requirements under the RBC Covered Bond Programme.
(2) Where only one rating is expressed such rating relates to the short-term rating (unless otherwise specified) and where two ratings are expressed the first is short-term and the second long-term.
(3) The discretion of the Guarantor LP to waive a required action upon a Rating Trigger may be limited by the terms of the Transaction Documents.

   

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 2 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Asset Coverage Test
C$ Equivalent of Outstanding Covered Bonds	$37,235,039,950
A = lower of (i) LTV Adjusted True Balance, and	$50,038,468,576	A (i)	$53,804,217,761
(ii) Asset Percentage Adjusted True Balance, as adjusted		A (ii)	$50,038,468,576
B = Principal Receipts	-	Asset Percentage:		93.00%
C = Cash Capital Contributions	-	Maximum Asset Percentage:		93.00%
D = Substitute Assets	-
E = Reserve Fund balance	-
F = Negative Carry Factor calculation	$680,534,510
Adjusted Aggregate Asset Amount (Total: A + B + C + D + E - F)	$49,357,934,065

Valuation Calculation
Trading Value of Covered Bonds	$40,522,521,729
A = LTV Adjusted Present Value	$53,888,217,764	Weighted Average Effective Yield
		of Performing Eligible Loans:	2.53%
B = Principal Receipts	-
C = Cash Capital Contributions
D = Trading Value of Substitute Assets	-
E = Reserve Fund Balance	-
F = Trading Value of Swap Collateral	-
Present Value Adjusted Aggregate Asset Amount (Total: A + B + C + D + E + F)	$53,888,217,764

Intercompany Loan Balance
Guarantee Loan	$40,283,814,185
Demand Loan	$13,498,919,835
Total	$53,782,734,020

Cover Pool Losses
Period End	Write-off Amounts	Loss Percentage (Annualized)
October 31, 2016	$224,736	0.01%

Cover Pool Flow of Funds
	31-Oct-2016		30-Sep-2016
Cash Inflows
Principal Receipts	$944,581,966		$1,117,837,612
Proceeds for sale of Loans	$0		$0
Draw on Intercompany Loan	$0		$0
Revenue Receipts	$116,775,311		$135,158,535
Swap receipts	$94,866,377	(1)	$94,120,751	(2)
Cash Outflows
Swap payment	($116,775,311)	(1)	($135,158,535)	(2)
Swap Breakage Fee	$0		$0
Intercompany Loan interest	($94,676,644)	(1)	($93,932,509)	(2)
Intercompany Loan principal	($944,581,966)	(1)	($1,117,837,612)	(2)
Purchase of Loans	$0		$0
Net inflows/(outflows)	$189,733		$188,242
(1) Cash settlement to occur on November 17, 2016
(2) Cash settlement occured on October 17, 2016

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 3 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Summary Statistics
Previous Month Ending Balance	$54,763,090,536
Current Month Ending Balance	$53,818,283,256
Number of Mortgages in Pool		343,984
Average Mortgage Size		$156,456
Ten Largest Mortgages as a % of Current Month Ending Balance		0.05%
Number of Properties		274,696
Number of Borrowers		265,576
		Original(1)	Indexed(2)
Weighted Average LTV - Authorized		71.04%	55.42%
Weighted Average LTV - Drawn		61.79%	48.44%
Weighted Average LTV - Original Authorized		73.30%
Weighted Average Mortgage Rate		2.66%
Weighted Average Seasoning (Months)		25.33
Weighted Average Original Term (Months)		53.67
Weighted Average Remaining Term (Months)		28.34
(1)  Value as most recently determined or assessed in accordance with the underwriting policies (whether upon origination or renewal of the Eligible Loan or subsequently thereto).
(2) Value as determined by adjusting, not less than quarterly, the Original Market Value for each Property subject to the Related Security in respect of a Loan utilizing the Housing Price Index Methodology for subsequent price developments. See Appendix under "Housing Price Index Methodology" for details.
Disclaimer: Due to rounding, numbers presented in the following distribution tables may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Cover Pool Delinquency Distribution
Aging Summary	Number of Loans	Percentage	Principal Balance	Percentage
Current and less than 30 days past due	343,250	99.79	$53,694,658,157	99.77
30 to 59 days past due	312	0.09	$54,847,588	0.10
60 to 89 days past due	118	0.03	$18,098,660	0.03
90 or more days past due	304	0.09	$50,678,851	0.09
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Provincial Distribution
Province	Number of Loans	Percentage	Principal Balance	Percentage
Alberta	42,475	12.35	$7,542,150,356	14.01
British Columbia	64,098	18.63	$12,616,781,559	23.44
Manitoba	13,962	4.06	$1,613,818,045	3.00
New Brunswick	6,421	1.87	$546,145,222	1.01
Newfoundland and Labrador	4,055	1.18	$487,557,703	0.91
Northwest Territories	43	0.01	$5,584,745	0.01
Nova Scotia	10,347	3.01	$1,031,568,309	1.92
Nunavut	2	0.00	$63,471	0.00
Ontario	138,975	40.40	$22,760,116,388	42.29
Prince Edward Island	1,314	0.38	$115,662,579	0.21
Quebec	49,729	14.46	$5,422,476,932	10.08
Saskatchewan	12,384	3.60	$1,645,227,710	3.06
Yukon	179	0.05	$31,130,238	0.06
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Credit Bureau Score Distribution
Credit Bureau Score	Number of Loans	Percentage	Principal Balance	Percentage
Score Unavailable	296	0.09	$38,027,677	0.07
499 and below	953	0.28	$147,488,930	0.27
500 - 539	818	0.24	$128,390,452	0.24
540 - 559	669	0.19	$108,064,090	0.20
560 - 579	962	0.28	$146,542,926	0.27
580 - 599	1,423	0.41	$215,499,258	0.40
600 - 619	2,459	0.71	$396,998,975	0.74
620 - 639	4,225	1.23	$706,051,125	1.31
640 - 659	6,732	1.96	$1,117,382,976	2.08
660 - 679	10,438	3.03	$1,748,040,452	3.25
680 - 699	14,278	4.15	$2,407,728,357	4.47
700 - 719	18,327	5.33	$3,011,482,615	5.60
720 - 739	20,721	6.02	$3,433,615,894	6.38
740 - 759	22,348	6.50	$3,656,734,203	6.79
760 - 779	25,242	7.34	$4,145,436,328	7.70
780 - 799	28,875	8.39	$4,818,747,857	8.95
800 and above	185,218	53.84	$27,592,051,143	51.27
Total	343,984	100.00	$53,818,283,256	100.00

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 4 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Rate Type Distribution
Rate Type	Number of Loans	Percentage	Principal Balance	Percentage
Fixed	247,030	71.81	$36,535,863,924	67.89
Variable	96,954	28.19	$17,282,419,332	32.11
Total	343,984	100.00	$53,818,283,256	100.00

Mortgage Asset Type Distribution
	Number of Loans	Percentage	Principal Balance	Percentage
Conventional Mortgage	58,713	17.07	$10,982,100,640	20.41
Homeline Mortgage Segment	285,271	82.93	$42,836,182,615	79.59
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Occupancy Type Distribution
Occupancy Type	Number of Loans	Percentage	Principal Balance	Percentage
Not Owner Occupied	29,497	8.58	$4,694,758,848	8.72
Owner Occupied	314,487	91.42	$49,123,524,408	91.28
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Mortgage Rate Distribution
Mortgage Rate (%)	Number of Loans	Percentage	Principal Balance	Percentage
1.9999% and below	3,750	1.09	$1,029,839,706	1.91
2.0000% - 2.4999%	123,081	35.78	$21,247,435,230	39.48
2.5000% - 2.9999%	138,974	40.40	$21,757,350,106	40.43
3.0000% - 3.4999%	52,723	15.33	$6,897,225,958	12.82
3.5000% - 3.9999%	20,884	6.07	$2,335,845,600	4.34
4.0000% - 4.4999%	2,852	0.83	$371,955,985	0.69
4.5000% - 4.9999%	213	0.06	$23,642,408	0.04
5.0000% - 5.4999%	326	0.09	$30,264,945	0.06
5.5000% - 5.9999%	124	0.04	$11,353,900	0.02
6.0000% - 6.4999%	54	0.02	$5,544,883	0.01
6.5000% - 6.9999%	1,003	0.29	$107,824,536	0.20
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Remaining Term Distribution
Remaining Term (Months)	Number of Loans	Percentage	Principal Balance	Percentage
Less than 12.00	64,380	18.72	$9,064,800,733	16.84
12.00 - 23.99	93,143	27.08	$14,305,349,603	26.58
24.00 - 35.99	67,675	19.67	$10,860,966,400	20.18
36.00 - 47.99	77,573	22.55	$12,844,289,310	23.87
48.00 - 59.99	38,535	11.20	$6,335,617,475	11.77
60.00 - 71.99	1,493	0.43	$223,988,611	0.42
72.00 - 83.99	808	0.23	$123,306,168	0.23
84.00 - 119.99	377	0.11	$59,964,955	0.11
120.00 and above	0	0.00	$0	0.00
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Loan Seasoning
Loan Seasoning (Months)	Number of Loans	Percentage	Principal Balance	Percentage
Less than 12.00	69,779	20.29	$10,702,067,599	19.89
12.00 - 23.99	100,261	29.15	$16,340,734,478	30.36
24.00 - 35.99	73,575	21.39	$12,263,331,431	22.79
36.00 - 59.99	99,077	28.80	$14,352,563,472	26.67
60.00 and above	1,292	0.38	$159,586,275	0.30
Total	343,984	100.00	$53,818,283,256	100.00

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 5 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Range of Remaining Principal Balance
Range of Remaining Principal Balance	Number of Loans	Percentage	Principal Balance	Percentage
99,999 and below	145,247	42.22	$7,573,596,487	14.07
100,000 - 149,999	60,749	17.66	$7,538,582,017	14.01
150,000 - 199,999	45,874	13.34	$7,970,849,870	14.81
200,000 - 249,999	31,747	9.23	$7,094,572,846	13.18
250,000 - 299,999	20,938	6.09	$5,718,921,844	10.63
300,000 - 349,999	13,234	3.85	$4,273,813,085	7.94
350,000 - 399,999	8,367	2.43	$3,122,230,795	5.80
400,000 - 449,999	5,310	1.54	$2,247,906,913	4.18
450,000 - 499,999	3,550	1.03	$1,680,287,981	3.12
500,000 - 549,999	2,222	0.65	$1,163,681,924	2.16
550,000 - 599,999	1,508	0.44	$864,772,998	1.61
600,000 - 649,999	1,069	0.31	$667,056,309	1.24
650,000 - 699,999	784	0.23	$528,202,887	0.98
700,000 - 749,999	606	0.18	$438,488,344	0.81
750,000 - 799,999	475	0.14	$367,227,210	0.68
800,000 - 849,999	376	0.11	$309,922,266	0.58
850,000 - 899,999	318	0.09	$278,051,434	0.52
900,000 - 949,999	265	0.08	$244,515,720	0.45
950,000 - 999,999	225	0.07	$218,431,353	0.41
1,000,000 and above	1,120	0.33	$1,517,170,974	2.82
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Property Type Distribution
Property Type	Number of Loans	Percentage	Principal Balance	Percentage
Apartment (Condominium)	31,660	9.20	$4,763,378,183	8.85
Detached	276,753	80.46	$43,392,311,311	80.63
Duplex	4,831	1.40	$697,787,921	1.30
Fourplex	1,157	0.34	$208,438,983	0.39
Other	964	0.28	$148,301,918	0.28
Row (Townhouse)	15,133	4.40	$2,423,410,837	4.50
Semi-detached	12,343	3.59	$2,003,945,101	3.72
Triplex	1,143	0.33	$180,709,003	0.34
Total	343,984	100.00	$53,818,283,256	100.00

Cover Pool Indexed LTV - Authorized Distribution
Indexed LTV (%)	Number of Properties	Percentage	Principal Balance	Percentage
20.00 and below	14,196	5.17	$881,560,601	1.64
20.01 - 25.00	5,572	2.03	$658,205,355	1.22
25.01 - 30.00	7,265	2.64	$996,982,844	1.85
30.01 - 35.00	10,448	3.80	$1,716,139,890	3.19
35.01 - 40.00	17,112	6.23	$3,005,312,339	5.58
40.01 - 45.00	23,254	8.47	$4,543,368,019	8.44
45.01 - 50.00	28,699	10.45	$6,240,036,789	11.59
50.01 - 55.00	37,357	13.60	$7,603,010,809	14.13
55.01 - 60.00	31,185	11.35	$6,978,068,252	12.97
60.01 - 65.00	38,310	13.95	$7,838,400,106	14.56
65.01 - 70.00	21,918	7.98	$4,750,656,030	8.83
70.01 - 75.00	15,864	5.78	$3,337,122,910	6.20
75.01 - 80.00	18,568	6.76	$4,075,778,030	7.57
> 80.00	4,948	1.80	$1,193,641,280	2.22
Total	274,696	100.00	$53,818,283,256	100.00

Cover Pool Indexed LTV - Drawn Distribution
Indexed LTV (%)	Number of Properties	Percentage	Principal Balance	Percentage
20.00 and below	38,469	14.00	$2,837,710,764	5.27
20.01 - 25.00	15,274	5.56	$2,014,242,588	3.74
25.01 - 30.00	16,959	6.17	$2,665,398,445	4.95
30.01 - 35.00	19,330	7.04	$3,510,020,724	6.52
35.01 - 40.00	22,049	8.03	$4,554,160,837	8.46
40.01 - 45.00	24,645	8.97	$5,588,283,745	10.38
45.01 - 50.00	26,733	9.73	$6,252,149,874	11.62
50.01 - 55.00	28,211	10.27	$6,690,346,521	12.43
55.01 - 60.00	25,861	9.41	$6,117,711,391	11.37
60.01 - 65.00	23,759	8.65	$5,492,068,880	10.20
65.01 - 70.00	13,892	5.06	$3,340,488,952	6.21
70.01 - 75.00	10,853	3.95	$2,599,370,861	4.83
75.01 - 80.00	7,561	2.75	$1,864,908,379	3.47
> 80.00	1,100	0.40	$291,421,295	0.54
Total	274,696	100.00	$53,818,283,256	100.00

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 6 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Alberta	20.00 and below	$217,328,662	$627,818	$0	$354,798	$218,311,278
	20.01 - 25.00	$156,023,292	$294,842	$0	$0	$156,318,135
	25.01 - 30.00	$212,892,735	$0	$157,596	$0	$213,050,331
	30.01 - 35.00	$261,110,745	$44,105	$150,330	$203,715	$261,508,896
	35.01 - 40.00	$331,250,033	$169,629	$205,522	$447,069	$332,072,253
	40.01 - 45.00	$432,711,317	$442,634	$0	$3,788,609	$436,942,560
	45.01 - 50.00	$538,745,530	$291,919	$196,464	$1,353,189	$540,587,101
	50.01 - 55.00	$725,762,247	$1,146,889	$975,815	$3,677,997	$731,562,947
	55.01 - 60.00	$859,500,834	$1,639,226	$85,656	$1,629,853	$862,855,569
	60.01 - 65.00	$1,028,772,647	$3,044,860	$824,554	$4,397,540	$1,037,039,602
	65.01 - 70.00	$1,007,721,280	$1,850,994	$704,710	$2,577,517	$1,012,854,501
	70.01 - 75.00	$847,326,040	$2,265,668	$0	$2,719,613	$852,311,322
	75.01 - 80.00	$704,596,888	$1,014,710	$0	$1,553,613	$707,165,210
	> 80.00	$178,878,944	$0	$285,933	$405,776	$179,570,653
Total Alberta		$7,502,621,193	$12,833,292	$3,586,581	$23,109,289	$7,542,150,356
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
British Columbia	20.00 and below	$1,006,926,255	$103,000	$130,437	$179,080	$1,007,338,773
	20.01 - 25.00	$712,901,411	$425,480	$96,215	$177,546	$713,600,651
	25.01 - 30.00	$901,703,016	$185,499	$0	$427,242	$902,315,757
	30.01 - 35.00	$1,210,608,862	$1,257,731	$1,276,317	$958,860	$1,214,101,771
	35.01 - 40.00	$1,539,287,743	$733,019	$695,421	$750,701	$1,541,466,884
	40.01 - 45.00	$1,838,639,190	$1,373,375	$643,660	$1,008,982	$1,841,665,208
	45.01 - 50.00	$1,894,435,707	$3,176,024	$545,860	$1,685,825	$1,899,843,416
	50.01 - 55.00	$1,588,460,271	$1,901,213	$280,742	$649,864	$1,591,292,089
	55.01 - 60.00	$1,019,055,291	$1,520,135	$265,373	$1,180,730	$1,022,021,529
	60.01 - 65.00	$622,356,976	$345,477	$0	$807,205	$623,509,658
	65.01 - 70.00	$196,939,504	$0	$0	$406,575	$197,346,079
	70.01 - 75.00	$50,979,188	$0	$0	$0	$50,979,188
	75.01 - 80.00	$10,620,039	$0	$0	$0	$10,620,039
	> 80.00	$680,518	$0	$0	$0	$680,518
Total British Columbia		$12,593,593,970	$11,020,954	$3,934,026	$8,232,610	$12,616,781,559
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Manitoba	20.00 and below	$45,152,982	$70,125	$5,116	$0	$45,228,223
	20.01 - 25.00	$34,607,777	$67,819	$0	$0	$34,675,596
	25.01 - 30.00	$42,429,554	$70,150	$0	$0	$42,499,703
	30.01 - 35.00	$60,211,561	$78,785	$0	$49,497	$60,339,843
	35.01 - 40.00	$72,568,948	$92,198	$0	$0	$72,661,145
	40.01 - 45.00	$97,288,640	$7,102	$0	$0	$97,295,742
	45.01 - 50.00	$124,726,542	$196,183	$0	$115,658	$125,038,383
	50.01 - 55.00	$165,216,744	$738,407	$152,538	$0	$166,107,688
	55.01 - 60.00	$195,259,354	$41,339	$0	$297,099	$195,597,792
	60.01 - 65.00	$223,003,777	$657,510	$100,947	$174,098	$223,936,332
	65.01 - 70.00	$204,856,367	$553,585	$163,100	$354,456	$205,927,510
	70.01 - 75.00	$246,450,231	$953,512	$274,597	$222,944	$247,901,284
	75.01 - 80.00	$95,245,315	$807,049	$225,117	$0	$96,277,482
	> 80.00	$331,322	$0	$0	$0	$331,322
Total Manitoba		$1,607,349,115	$4,333,763	$921,415	$1,213,753	$1,613,818,045

    

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 7 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
New Brunswick	20.00 and below	$18,935,661	$12,272	$0	$0	$18,947,933
	20.01 - 25.00	$12,407,158	$0	$0	$34,577	$12,441,735
	25.01 - 30.00	$18,609,838	$0	$0	$0	$18,609,838
	30.01 - 35.00	$24,352,066	$51,025	$0	$0	$24,403,090
	35.01 - 40.00	$34,567,808	$0	$0	$92,353	$34,660,161
	40.01 - 45.00	$45,200,818	$0	$0	$0	$45,200,818
	45.01 - 50.00	$64,485,927	$0	$0	$43,995	$64,529,922
	50.01 - 55.00	$83,791,003	$73,404	$0	$164,733	$84,029,140
	55.01 - 60.00	$89,116,633	$273,421	$106,306	$0	$89,496,360
	60.01 - 65.00	$101,003,873	$42,559	$0	$884,433	$101,930,865
	65.01 - 70.00	$44,700,503	$0	$0	$149,337	$44,849,840
	70.01 - 75.00	$5,578,731	$0	$0	$0	$5,578,731
	75.01 - 80.00	$1,466,789	$0	$0	$0	$1,466,789
	> 80.00	$0	$0	$0	$0	$0
Total New Brunswick		$544,216,807	$452,680	$106,306	$1,369,428	$546,145,222
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Newfoundland and	20.00 and below	$16,128,942	$64,742	$0	$0	$16,193,683
Labrador	20.01 - 25.00	$11,998,812	$21,254	$0	$0	$12,020,066
	25.01 - 30.00	$13,870,875	$62,116	$0	$0	$13,932,991
	30.01 - 35.00	$19,674,530	$0	$0	$0	$19,674,530
	35.01 - 40.00	$29,924,548	$22,951	$0	$0	$29,947,499
	40.01 - 45.00	$36,092,408	$0	$0	$0	$36,092,408
	45.01 - 50.00	$53,153,540	$0	$0	$0	$53,153,540
	50.01 - 55.00	$73,597,350	$0	$0	$0	$73,597,350
	55.01 - 60.00	$88,622,772	$0	$0	$577,386	$89,200,159
	60.01 - 65.00	$98,267,544	$0	$0	$0	$98,267,544
	65.01 - 70.00	$37,364,670	$0	$0	$0	$37,364,670
	70.01 - 75.00	$7,023,897	$0	$0	$0	$7,023,897
	75.01 - 80.00	$930,599	$0	$0	$0	$930,599
	> 80.00	$158,767	$0	$0	$0	$158,767
Total Newfoundland and Labrador		$486,809,254	$171,062	$0	$577,386	$487,557,703
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Northwest	20.00 and below	$453,085	$0	$0	$0	$453,085
Territories	20.01 - 25.00	$608,263	$0	$0	$0	$608,263
	25.01 - 30.00	$356,111	$0	$0	$0	$356,111
	30.01 - 35.00	$789,552	$0	$0	$0	$789,552
	35.01 - 40.00	$270,191	$0	$0	$0	$270,191
	40.01 - 45.00	$574,680	$0	$0	$0	$574,680
	45.01 - 50.00	$595,901	$0	$0	$224,726	$820,628
	50.01 - 55.00	$1,173,231	$0	$0	$0	$1,173,231
	55.01 - 60.00	$220,268	$0	$0	$0	$220,268
	60.01 - 65.00	$0	$0	$0	$0	$0
	65.01 - 70.00	$318,735	$0	$0	$0	$318,735
	70.01 - 75.00	$0	$0	$0	$0	$0
	75.01 - 80.00	$0	$0	$0	$0	$0
	> 80.00	$0	$0	$0	$0	$0
Total Northwest Territories		$5,360,018	$0	$0	$224,726	$5,584,745

   

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 8 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Nova Scotia	20.00 and below	$30,985,329	$72,982	$0	$28,114	$31,086,425
	20.01 - 25.00	$20,855,239	$0	$0	$14,550	$20,869,790
	25.01 - 30.00	$29,985,239	$72,170	$0	$58,687	$30,116,096
	30.01 - 35.00	$39,788,549	$0	$30,436	$0	$39,818,985
	35.01 - 40.00	$45,847,076	$40,946	$0	$186,614	$46,074,635
	40.01 - 45.00	$60,445,019	$172,928	$0	$514,795	$61,132,741
	45.01 - 50.00	$83,131,736	$0	$204,680	$168,329	$83,504,746
	50.01 - 55.00	$103,786,065	$0	$0	$307,497	$104,093,562
	55.01 - 60.00	$127,322,798	$87,718	$0	$311,450	$127,721,966
	60.01 - 65.00	$136,374,431	$0	$178,651	$118,792	$136,671,874
	65.01 - 70.00	$109,088,890	$0	$0	$0	$109,088,890
	70.01 - 75.00	$126,194,873	$306,353	$89,028	$362,160	$126,952,414
	75.01 - 80.00	$101,423,983	$166,177	$0	$550,353	$102,140,513
	> 80.00	$12,028,236	$0	$0	$267,437	$12,295,672
Total Nova Scotia		$1,027,257,464	$919,273	$502,795	$2,888,777	$1,031,568,309
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Nunavut	20.00 and below	$0	$0	$0	$0	$0
	20.01 - 25.00	$0	$0	$0	$0	$0
	25.01 - 30.00	$0	$0	$0	$0	$0
	30.01 - 35.00	$0	$0	$0	$0	$0
	35.01 - 40.00	$63,471	$0	$0	$0	$63,471
	40.01 - 45.00	$0	$0	$0	$0	$0
	45.01 - 50.00	$0	$0	$0	$0	$0
	50.01 - 55.00	$0	$0	$0	$0	$0
	55.01 - 60.00	$0	$0	$0	$0	$0
	60.01 - 65.00	$0	$0	$0	$0	$0
	65.01 - 70.00	$0	$0	$0	$0	$0
	70.01 - 75.00	$0	$0	$0	$0	$0
	75.01 - 80.00	$0	$0	$0	$0	$0
	> 80.00	$0	$0	$0	$0	$0
Total Nunavut		$63,471	$0	$0	$0	$63,471
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Ontario	20.00 and below	$1,293,864,114	$642,261	$271,752	$110,903	$1,294,889,031
	20.01 - 25.00	$909,782,349	$492,812	$177,810	$70,179	$910,523,150
	25.01 - 30.00	$1,229,795,980	$683,284	$50,341	$269,455	$1,230,799,060
	30.01 - 35.00	$1,614,536,576	$1,688,144	$602,257	$458,171	$1,617,285,147
	35.01 - 40.00	$2,149,327,968	$2,446,417	$66,836	$299,943	$2,152,141,164
	40.01 - 45.00	$2,631,543,496	$1,767,373	$1,270,476	$75,330	$2,634,656,675
	45.01 - 50.00	$2,908,250,233	$2,379,768	$841,941	$922,551	$2,912,394,493
	50.01 - 55.00	$3,158,225,902	$3,430,524	$1,674,040	$615,076	$3,163,945,542
	55.01 - 60.00	$2,835,514,834	$1,458,348	$229,918	$484,214	$2,837,687,314
	60.01 - 65.00	$2,281,547,267	$1,848,572	$653,657	$842,594	$2,284,892,090
	65.01 - 70.00	$1,032,150,715	$1,002,857	$57,654	$0	$1,033,211,226
	70.01 - 75.00	$470,417,553	$390,126	$167,824	$0	$470,975,503
	75.01 - 80.00	$215,486,439	$358,501	$0	$0	$215,844,940
	> 80.00	$871,054	$0	$0	$0	$871,054
Total Ontario		$22,731,314,479	$18,588,987	$6,064,507	$4,148,416	$22,760,116,388

   

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 9 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Prince Edward	20.00 and below	$4,326,881	$2,493	$0	$0	$4,329,374
Island	20.01 - 25.00	$4,272,253	$0	$0	$0	$4,272,253
	25.01 - 30.00	$4,733,976	$0	$0	$0	$4,733,976
	30.01 - 35.00	$5,686,562	$0	$0	$0	$5,686,562
	35.01 - 40.00	$7,749,211	$0	$0	$0	$7,749,211
	40.01 - 45.00	$11,386,959	$0	$0	$0	$11,386,959
	45.01 - 50.00	$9,925,544	$60,022	$0	$4,772	$9,990,338
	50.01 - 55.00	$21,054,381	$0	$0	$0	$21,054,381
	55.01 - 60.00	$19,898,106	$192,230	$0	$0	$20,090,336
	60.01 - 65.00	$15,958,525	$0	$0	$0	$15,958,525
	65.01 - 70.00	$7,623,990	$0	$0	$0	$7,623,990
	70.01 - 75.00	$2,340,316	$0	$0	$0	$2,340,316
	75.01 - 80.00	$446,360	$0	$0	$0	$446,360
	> 80.00	$0	$0	$0	$0	$0
Total Prince Edward Island		$115,403,062	$254,745	$0	$4,772	$115,662,579
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Quebec	20.00 and below	$152,359,781	$85,365	$0	$28,608	$152,473,754
	20.01 - 25.00	$109,863,848	$0	$0	$0	$109,863,848
	25.01 - 30.00	$144,213,902	$508,571	$0	$0	$144,722,472
	30.01 - 35.00	$194,273,208	$148,470	$0	$0	$194,421,678
	35.01 - 40.00	$232,704,963	$473,826	$142,281	$136,558	$233,457,628
	40.01 - 45.00	$285,150,418	$0	$276,148	$145,546	$285,572,113
	45.01 - 50.00	$365,258,493	$148,295	$182,389	$57,044	$365,646,221
	50.01 - 55.00	$462,650,423	$632,080	$278,534	$730,119	$464,291,157
	55.01 - 60.00	$557,267,746	$311,059	$0	$484,854	$558,063,660
	60.01 - 65.00	$675,325,365	$442,153	$478,583	$874,735	$677,120,836
	65.01 - 70.00	$594,684,225	$508,651	$194,339	$955,928	$596,343,143
	70.01 - 75.00	$815,251,108	$123,360	$489,276	$398,616	$816,262,361
	75.01 - 80.00	$724,319,700	$1,034,344	$101,693	$1,269,016	$726,724,753
	> 80.00	$97,341,911	$0	$0	$171,398	$97,513,309
Total Quebec		$5,410,665,091	$4,416,175	$2,143,244	$5,252,423	$5,422,476,932
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Saskatchewan	20.00 and below	$46,969,863	$72,761	$0	$0	$47,042,624
	20.01 - 25.00	$37,697,336	$0	$0	$177,337	$37,874,674
	25.01 - 30.00	$62,628,110	$0	$0	$0	$62,628,110
	30.01 - 35.00	$70,813,593	$83,536	$0	$20,185	$70,917,314
	35.01 - 40.00	$100,648,530	$260,106	$133,266	$36,302	$101,078,205
	40.01 - 45.00	$135,809,406	$330,608	$0	$525,163	$136,665,178
	45.01 - 50.00	$189,743,582	$235,847	$107,341	$343,627	$190,430,397
	50.01 - 55.00	$279,227,176	$489,809	$386,599	$1,330,000	$281,433,584
	55.01 - 60.00	$309,151,060	$97,386	$89,673	$199,540	$309,537,660
	60.01 - 65.00	$290,239,150	$0	$0	$1,025,116	$291,264,267
	65.01 - 70.00	$93,923,579	$168,539	$75,818	$0	$94,167,936
	70.01 - 75.00	$18,896,068	$0	$0	$0	$18,896,068
	75.01 - 80.00	$3,291,694	$0	$0	$0	$3,291,694
	> 80.00	$0	$0	$0	$0	$0
Total Saskatchewan		$1,639,039,148	$1,738,593	$792,698	$3,657,271	$1,645,227,710

    

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 10 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Yukon	20.00 and below	$1,369,492	$0	$47,090	$0	$1,416,582
	20.01 - 25.00	$1,174,427	$0	$0	$0	$1,174,427
	25.01 - 30.00	$1,515,936	$118,064	$0	$0	$1,634,000
	30.01 - 35.00	$1,073,356	$0	$0	$0	$1,073,356
	35.01 - 40.00	$2,518,390	$0	$0	$0	$2,518,390
	40.01 - 45.00	$1,098,663	$0	$0	$0	$1,098,663
	45.01 - 50.00	$6,210,690	$0	$0	$0	$6,210,690
	50.01 - 55.00	$7,765,851	$0	$0	$0	$7,765,851
	55.01 - 60.00	$5,218,779	$0	$0	$0	$5,218,779
	60.01 - 65.00	$1,477,289	$0	$0	$0	$1,477,289
	65.01 - 70.00	$1,392,434	$0	$0	$0	$1,392,434
	70.01 - 75.00	$149,778	$0	$0	$0	$149,778
	75.01 - 80.00	$0	$0	$0	$0	$0
	> 80.00	$0	$0	$0	$0	$0
Total Yukon		$30,965,084	$118,064	$47,090	$0	$31,130,238
Grand Total		$53,694,658,157	$54,847,588	$18,098,660	$50,678,851	$53,818,283,256

Provincial Distribution by Indexed LTV - Drawn and Aging Summary
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Alberta	20.00 and below	0.40	0.00	0.00	0.00	0.41
	20.01 - 25.00	0.29	0.00	0.00	0.00	0.29
	25.01 - 30.00	0.40	0.00	0.00	0.00	0.40
	30.01 - 35.00	0.49	0.00	0.00	0.00	0.49
	35.01 - 40.00	0.62	0.00	0.00	0.00	0.62
	40.01 - 45.00	0.80	0.00	0.00	0.01	0.81
	45.01 - 50.00	1.00	0.00	0.00	0.00	1.00
	50.01 - 55.00	1.35	0.00	0.00	0.01	1.36
	55.01 - 60.00	1.60	0.00	0.00	0.00	1.60
	60.01 - 65.00	1.91	0.01	0.00	0.01	1.93
	65.01 - 70.00	1.87	0.00	0.00	0.00	1.88
	70.01 - 75.00	1.57	0.00	0.00	0.01	1.58
	75.01 - 80.00	1.31	0.00	0.00	0.00	1.31
	> 80.00	0.33	0.00	0.00	0.00	0.33
Total Alberta		13.94	0.02	0.01	0.04	14.01
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
British Columbia	20.00 and below	1.87	0.00	0.00	0.00	1.87
	20.01 - 25.00	1.32	0.00	0.00	0.00	1.33
	25.01 - 30.00	1.68	0.00	0.00	0.00	1.68
	30.01 - 35.00	2.25	0.00	0.00	0.00	2.26
	35.01 - 40.00	2.86	0.00	0.00	0.00	2.86
	40.01 - 45.00	3.42	0.00	0.00	0.00	3.42
	45.01 - 50.00	3.52	0.01	0.00	0.00	3.53
	50.01 - 55.00	2.95	0.00	0.00	0.00	2.96
	55.01 - 60.00	1.89	0.00	0.00	0.00	1.90
	60.01 - 65.00	1.16	0.00	0.00	0.00	1.16
	65.01 - 70.00	0.37	0.00	0.00	0.00	0.37
	70.01 - 75.00	0.09	0.00	0.00	0.00	0.09
	75.01 - 80.00	0.02	0.00	0.00	0.00	0.02
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total British Columbia		23.40	0.02	0.01	0.02	23.44

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 11 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Manitoba	20.00 and below	0.08	0.00	0.00	0.00	0.08
	20.01 - 25.00	0.06	0.00	0.00	0.00	0.06
	25.01 - 30.00	0.08	0.00	0.00	0.00	0.08
	30.01 - 35.00	0.11	0.00	0.00	0.00	0.11
	35.01 - 40.00	0.13	0.00	0.00	0.00	0.14
	40.01 - 45.00	0.18	0.00	0.00	0.00	0.18
	45.01 - 50.00	0.23	0.00	0.00	0.00	0.23
	50.01 - 55.00	0.31	0.00	0.00	0.00	0.31
	55.01 - 60.00	0.36	0.00	0.00	0.00	0.36
	60.01 - 65.00	0.41	0.00	0.00	0.00	0.42
	65.01 - 70.00	0.38	0.00	0.00	0.00	0.38
	70.01 - 75.00	0.46	0.00	0.00	0.00	0.46
	75.01 - 80.00	0.18	0.00	0.00	0.00	0.18
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Manitoba		2.99	0.01	0.00	0.00	3.00
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
New Brunswick	20.00 and below	0.04	0.00	0.00	0.00	0.04
	20.01 - 25.00	0.02	0.00	0.00	0.00	0.02
	25.01 - 30.00	0.03	0.00	0.00	0.00	0.03
	30.01 - 35.00	0.05	0.00	0.00	0.00	0.05
	35.01 - 40.00	0.06	0.00	0.00	0.00	0.06
	40.01 - 45.00	0.08	0.00	0.00	0.00	0.08
	45.01 - 50.00	0.12	0.00	0.00	0.00	0.12
	50.01 - 55.00	0.16	0.00	0.00	0.00	0.16
	55.01 - 60.00	0.17	0.00	0.00	0.00	0.17
	60.01 - 65.00	0.19	0.00	0.00	0.00	0.19
	65.01 - 70.00	0.08	0.00	0.00	0.00	0.08
	70.01 - 75.00	0.01	0.00	0.00	0.00	0.01
	75.01 - 80.00	0.00	0.00	0.00	0.00	0.00
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total New Brunswick		1.01	0.00	0.00	0.00	1.01
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Newfoundland and	20.00 and below	0.03	0.00	0.00	0.00	0.03
Labrador	20.01 - 25.00	0.02	0.00	0.00	0.00	0.02
	25.01 - 30.00	0.03	0.00	0.00	0.00	0.03
	30.01 - 35.00	0.04	0.00	0.00	0.00	0.04
	35.01 - 40.00	0.06	0.00	0.00	0.00	0.06
	40.01 - 45.00	0.07	0.00	0.00	0.00	0.07
	45.01 - 50.00	0.10	0.00	0.00	0.00	0.10
	50.01 - 55.00	0.14	0.00	0.00	0.00	0.14
	55.01 - 60.00	0.16	0.00	0.00	0.00	0.17
	60.01 - 65.00	0.18	0.00	0.00	0.00	0.18
	65.01 - 70.00	0.07	0.00	0.00	0.00	0.07
	70.01 - 75.00	0.01	0.00	0.00	0.00	0.01
	75.01 - 80.00	0.00	0.00	0.00	0.00	0.00
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Newfoundland and Labrador		0.90	0.00	0.00	0.00	0.91

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 12 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Northwest	20.00 and below	0.00	0.00	0.00	0.00	0.00
Territories	20.01 - 25.00	0.00	0.00	0.00	0.00	0.00
	25.01 - 30.00	0.00	0.00	0.00	0.00	0.00
	30.01 - 35.00	0.00	0.00	0.00	0.00	0.00
	35.01 - 40.00	0.00	0.00	0.00	0.00	0.00
	40.01 - 45.00	0.00	0.00	0.00	0.00	0.00
	45.01 - 50.00	0.00	0.00	0.00	0.00	0.00
	50.01 - 55.00	0.00	0.00	0.00	0.00	0.00
	55.01 - 60.00	0.00	0.00	0.00	0.00	0.00
	60.01 - 65.00	0.00	0.00	0.00	0.00	0.00
	65.01 - 70.00	0.00	0.00	0.00	0.00	0.00
	70.01 - 75.00	0.00	0.00	0.00	0.00	0.00
	75.01 - 80.00	0.00	0.00	0.00	0.00	0.00
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Northwest Territories		0.01	0.00	0.00	0.00	0.01
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Nova Scotia	20.00 and below	0.06	0.00	0.00	0.00	0.06
	20.01 - 25.00	0.04	0.00	0.00	0.00	0.04
	25.01 - 30.00	0.06	0.00	0.00	0.00	0.06
	30.01 - 35.00	0.07	0.00	0.00	0.00	0.07
	35.01 - 40.00	0.09	0.00	0.00	0.00	0.09
	40.01 - 45.00	0.11	0.00	0.00	0.00	0.11
	45.01 - 50.00	0.15	0.00	0.00	0.00	0.16
	50.01 - 55.00	0.19	0.00	0.00	0.00	0.19
	55.01 - 60.00	0.24	0.00	0.00	0.00	0.24
	60.01 - 65.00	0.25	0.00	0.00	0.00	0.25
	65.01 - 70.00	0.20	0.00	0.00	0.00	0.20
	70.01 - 75.00	0.23	0.00	0.00	0.00	0.24
	75.01 - 80.00	0.19	0.00	0.00	0.00	0.19
	> 80.00	0.02	0.00	0.00	0.00	0.02
Total Nova Scotia		1.91	0.00	0.00	0.01	1.92
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Nunavut	20.00 and below	0.00	0.00	0.00	0.00	0.00
	20.01 - 25.00	0.00	0.00	0.00	0.00	0.00
	25.01 - 30.00	0.00	0.00	0.00	0.00	0.00
	30.01 - 35.00	0.00	0.00	0.00	0.00	0.00
	35.01 - 40.00	0.00	0.00	0.00	0.00	0.00
	40.01 - 45.00	0.00	0.00	0.00	0.00	0.00
	45.01 - 50.00	0.00	0.00	0.00	0.00	0.00
	50.01 - 55.00	0.00	0.00	0.00	0.00	0.00
	55.01 - 60.00	0.00	0.00	0.00	0.00	0.00
	60.01 - 65.00	0.00	0.00	0.00	0.00	0.00
	65.01 - 70.00	0.00	0.00	0.00	0.00	0.00
	70.01 - 75.00	0.00	0.00	0.00	0.00	0.00
	75.01 - 80.00	0.00	0.00	0.00	0.00	0.00
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Nunavut		0.00	0.00	0.00	0.00	0.00

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 13 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Ontario	20.00 and below	2.40	0.00	0.00	0.00	2.41
	20.01 - 25.00	1.69	0.00	0.00	0.00	1.69
	25.01 - 30.00	2.29	0.00	0.00	0.00	2.29
	30.01 - 35.00	3.00	0.00	0.00	0.00	3.01
	35.01 - 40.00	3.99	0.00	0.00	0.00	4.00
	40.01 - 45.00	4.89	0.00	0.00	0.00	4.90
	45.01 - 50.00	5.40	0.00	0.00	0.00	5.41
	50.01 - 55.00	5.87	0.01	0.00	0.00	5.88
	55.01 - 60.00	5.27	0.00	0.00	0.00	5.27
	60.01 - 65.00	4.24	0.00	0.00	0.00	4.25
	65.01 - 70.00	1.92	0.00	0.00	0.00	1.92
	70.01 - 75.00	0.87	0.00	0.00	0.00	0.88
	75.01 - 80.00	0.40	0.00	0.00	0.00	0.40
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Ontario		42.24	0.03	0.01	0.01	42.29
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Prince Edward	20.00 and below	0.01	0.00	0.00	0.00	0.01
Island	20.01 - 25.00	0.01	0.00	0.00	0.00	0.01
	25.01 - 30.00	0.01	0.00	0.00	0.00	0.01
	30.01 - 35.00	0.01	0.00	0.00	0.00	0.01
	35.01 - 40.00	0.01	0.00	0.00	0.00	0.01
	40.01 - 45.00	0.02	0.00	0.00	0.00	0.02
	45.01 - 50.00	0.02	0.00	0.00	0.00	0.02
	50.01 - 55.00	0.04	0.00	0.00	0.00	0.04
	55.01 - 60.00	0.04	0.00	0.00	0.00	0.04
	60.01 - 65.00	0.03	0.00	0.00	0.00	0.03
	65.01 - 70.00	0.01	0.00	0.00	0.00	0.01
	70.01 - 75.00	0.00	0.00	0.00	0.00	0.00
	75.01 - 80.00	0.00	0.00	0.00	0.00	0.00
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Prince Edward Island		0.21	0.00	0.00	0.00	0.21
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Quebec	20.00 and below	0.28	0.00	0.00	0.00	0.28
	20.01 - 25.00	0.20	0.00	0.00	0.00	0.20
	25.01 - 30.00	0.27	0.00	0.00	0.00	0.27
	30.01 - 35.00	0.36	0.00	0.00	0.00	0.36
	35.01 - 40.00	0.43	0.00	0.00	0.00	0.43
	40.01 - 45.00	0.53	0.00	0.00	0.00	0.53
	45.01 - 50.00	0.68	0.00	0.00	0.00	0.68
	50.01 - 55.00	0.86	0.00	0.00	0.00	0.86
	55.01 - 60.00	1.04	0.00	0.00	0.00	1.04
	60.01 - 65.00	1.25	0.00	0.00	0.00	1.26
	65.01 - 70.00	1.10	0.00	0.00	0.00	1.11
	70.01 - 75.00	1.51	0.00	0.00	0.00	1.52
	75.01 - 80.00	1.35	0.00	0.00	0.00	1.35
	> 80.00	0.18	0.00	0.00	0.00	0.18
Total Quebec		10.05	0.01	0.00	0.01	10.08

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 14 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Provincial Distribution by Indexed LTV - Drawn and Aging Summary (continued)
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Saskatchewan	20.00 and below	0.09	0.00	0.00	0.00	0.09
	20.01 - 25.00	0.07	0.00	0.00	0.00	0.07
	25.01 - 30.00	0.12	0.00	0.00	0.00	0.12
	30.01 - 35.00	0.13	0.00	0.00	0.00	0.13
	35.01 - 40.00	0.19	0.00	0.00	0.00	0.19
	40.01 - 45.00	0.25	0.00	0.00	0.00	0.25
	45.01 - 50.00	0.35	0.00	0.00	0.00	0.35
	50.01 - 55.00	0.52	0.00	0.00	0.00	0.52
	55.01 - 60.00	0.57	0.00	0.00	0.00	0.58
	60.01 - 65.00	0.54	0.00	0.00	0.00	0.54
	65.01 - 70.00	0.17	0.00	0.00	0.00	0.17
	70.01 - 75.00	0.04	0.00	0.00	0.00	0.04
	75.01 - 80.00	0.01	0.00	0.00	0.00	0.01
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Saskatchewan		3.05	0.00	0.00	0.01	3.06
		Aging Summary (%)
		Current and
		less than 30	30 to 59	60 to 89	90 or more
Province	Indexed LTV (%)	days past due	days past due	days past due	days past due	Total
Yukon	20.00 and below	0.00	0.00	0.00	0.00	0.00
	20.01 - 25.00	0.00	0.00	0.00	0.00	0.00
	25.01 - 30.00	0.00	0.00	0.00	0.00	0.00
	30.01 - 35.00	0.00	0.00	0.00	0.00	0.00
	35.01 - 40.00	0.00	0.00	0.00	0.00	0.00
	40.01 - 45.00	0.00	0.00	0.00	0.00	0.00
	45.01 - 50.00	0.01	0.00	0.00	0.00	0.01
	50.01 - 55.00	0.01	0.00	0.00	0.00	0.01
	55.01 - 60.00	0.01	0.00	0.00	0.00	0.01
	60.01 - 65.00	0.00	0.00	0.00	0.00	0.00
	65.01 - 70.00	0.00	0.00	0.00	0.00	0.00
	70.01 - 75.00	0.00	0.00	0.00	0.00	0.00
	75.01 - 80.00	0.00	0.00	0.00	0.00	0.00
	> 80.00	0.00	0.00	0.00	0.00	0.00
Total Yukon		0.06	0.00	0.00	0.00	0.06
Grand Total		99.77	0.10	0.03	0.09	100.00

Cover Pool Indexed LTV - Drawn by Credit Bureau Score
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
20.00 and below	Score Unavailable	$7,317,374	0.01
	499 and below	$8,868,532	0.02
	500 - 539	$2,156,064	0.00
	540 - 559	$1,631,765	0.00
	560 - 579	$2,472,075	0.00
	580 - 599	$4,520,627	0.01
	600 - 619	$5,109,870	0.01
	620 - 639	$11,959,069	0.02
	640 - 659	$21,479,756	0.04
	660 - 679	$26,316,784	0.05
	680 - 699	$46,302,057	0.09
	700 - 719	$67,386,410	0.13
	720 - 739	$85,669,084	0.16
	740 - 759	$97,702,032	0.18
	760 - 779	$147,149,961	0.27
	780 - 799	$191,226,439	0.36
	800 and above	$2,110,442,866	3.92
Total		$2,837,710,764	5.27

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 15 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Indexed LTV - Drawn by Credit Bureau Score (continued)
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
20.01 - 25.00	Score Unavailable	$3,916,581	0.01
	499 and below	$2,857,131	0.01
	500 - 539	$1,640,524	0.00
	540 - 559	$1,167,968	0.00
	560 - 579	$2,867,763	0.01
	580 - 599	$3,419,306	0.01
	600 - 619	$5,947,186	0.01
	620 - 639	$9,446,657	0.02
	640 - 659	$17,904,402	0.03
	660 - 679	$25,143,086	0.05
	680 - 699	$47,101,207	0.09
	700 - 719	$54,405,826	0.10
	720 - 739	$72,703,611	0.14
	740 - 759	$87,811,362	0.16
	760 - 779	$111,684,001	0.21
	780 - 799	$153,437,419	0.29
	800 and above	$1,412,788,560	2.63
Total		$2,014,242,588	3.74
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
25.01 - 30.00	Score Unavailable	$2,369,921	0.00
	499 and below	$7,219,249	0.01
	500 - 539	$2,525,939	0.00
	540 - 559	$2,261,752	0.00
	560 - 579	$2,782,671	0.01
	580 - 599	$5,979,066	0.01
	600 - 619	$9,693,802	0.02
	620 - 639	$17,956,021	0.03
	640 - 659	$21,471,837	0.04
	660 - 679	$37,420,295	0.07
	680 - 699	$58,953,791	0.11
	700 - 719	$88,668,845	0.16
	720 - 739	$100,285,144	0.19
	740 - 759	$126,944,107	0.24
	760 - 779	$174,157,088	0.32
	780 - 799	$222,731,445	0.41
	800 and above	$1,783,977,472	3.31
Total		$2,665,398,445	4.95
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
30.01 - 35.00	Score Unavailable	$1,663,936	0.00
	499 and below	$7,678,031	0.01
	500 - 539	$4,847,256	0.01
	540 - 559	$5,662,007	0.01
	560 - 579	$3,906,148	0.01
	580 - 599	$7,218,001	0.01
	600 - 619	$14,334,892	0.03
	620 - 639	$22,486,367	0.04
	640 - 659	$40,954,405	0.08
	660 - 679	$65,978,808	0.12
	680 - 699	$105,946,228	0.20
	700 - 719	$147,102,246	0.27
	720 - 739	$164,464,508	0.31
	740 - 759	$183,167,183	0.34
	760 - 779	$215,414,464	0.40
	780 - 799	$281,582,009	0.52
	800 and above	$2,237,614,236	4.16
Total		$3,510,020,724	6.52

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 16 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Indexed LTV - Drawn by Credit Bureau Score (continued)
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
35.01 - 40.00	Score Unavailable	$4,685,420	0.01
	499 and below	$10,275,958	0.02
	500 - 539	$4,975,528	0.01
	540 - 559	$8,313,196	0.02
	560 - 579	$6,308,792	0.01
	580 - 599	$13,014,456	0.02
	600 - 619	$24,854,002	0.05
	620 - 639	$36,008,282	0.07
	640 - 659	$66,837,788	0.12
	660 - 679	$105,807,005	0.20
	680 - 699	$160,738,512	0.30
	700 - 719	$190,458,830	0.35
	720 - 739	$242,341,818	0.45
	740 - 759	$263,514,227	0.49
	760 - 779	$317,609,790	0.59
	780 - 799	$400,370,782	0.74
	800 and above	$2,698,046,450	5.01
Total		$4,554,160,837	8.46
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
40.01 - 45.00	Score Unavailable	$5,898,485	0.01
	499 and below	$19,228,238	0.04
	500 - 539	$12,216,183	0.02
	540 - 559	$9,818,670	0.02
	560 - 579	$12,322,074	0.02
	580 - 599	$19,297,344	0.04
	600 - 619	$31,720,347	0.06
	620 - 639	$62,087,142	0.12
	640 - 659	$101,767,235	0.19
	660 - 679	$140,087,513	0.26
	680 - 699	$213,438,003	0.40
	700 - 719	$269,514,688	0.50
	720 - 739	$307,155,571	0.57
	740 - 759	$352,015,966	0.65
	760 - 779	$432,240,518	0.80
	780 - 799	$526,600,846	0.98
	800 and above	$3,072,874,922	5.71
Total		$5,588,283,745	10.38
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
45.01 - 50.00	Score Unavailable	$2,703,439	0.01
	499 and below	$18,903,988	0.04
	500 - 539	$16,480,399	0.03
	540 - 559	$12,247,523	0.02
	560 - 579	$15,966,358	0.03
	580 - 599	$23,096,898	0.04
	600 - 619	$45,672,382	0.08
	620 - 639	$77,050,823	0.14
	640 - 659	$128,346,890	0.24
	660 - 679	$201,625,898	0.37
	680 - 699	$261,160,541	0.49
	700 - 719	$350,915,623	0.65
	720 - 739	$379,138,090	0.70
	740 - 759	$441,429,165	0.82
	760 - 779	$494,771,209	0.92
	780 - 799	$583,759,346	1.08
	800 and above	$3,198,881,303	5.94
Total		$6,252,149,874	11.62

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 17 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Indexed LTV - Drawn by Credit Bureau Score (continued)
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
50.01 - 55.00	Score Unavailable	$3,290,429	0.01
	499 and below	$23,915,200	0.04
	500 - 539	$20,931,813	0.04
	540 - 559	$14,693,685	0.03
	560 - 579	$23,213,034	0.04
	580 - 599	$33,972,583	0.06
	600 - 619	$57,194,877	0.11
	620 - 639	$105,387,991	0.20
	640 - 659	$150,803,613	0.28
	660 - 679	$234,191,986	0.44
	680 - 699	$312,990,357	0.58
	700 - 719	$428,488,425	0.80
	720 - 739	$458,889,141	0.85
	740 - 759	$488,269,051	0.91
	760 - 779	$541,658,641	1.01
	780 - 799	$647,968,828	1.20
	800 and above	$3,144,486,868	5.84
Total		$6,690,346,521	12.43
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
55.01 - 60.00	Score Unavailable	$2,676,720	0.00
	499 and below	$15,380,806	0.03
	500 - 539	$15,803,921	0.03
	540 - 559	$14,249,734	0.03
	560 - 579	$23,372,321	0.04
	580 - 599	$31,049,062	0.06
	600 - 619	$56,464,102	0.10
	620 - 639	$105,322,468	0.20
	640 - 659	$148,938,018	0.28
	660 - 679	$244,968,655	0.46
	680 - 699	$325,238,592	0.60
	700 - 719	$373,947,087	0.69
	720 - 739	$461,771,296	0.86
	740 - 759	$464,800,769	0.86
	760 - 779	$529,472,599	0.98
	780 - 799	$549,152,777	1.02
	800 and above	$2,755,102,464	5.12
Total		$6,117,711,391	11.37
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
60.01 - 65.00	Score Unavailable	$1,676,403	0.00
	499 and below	$12,402,402	0.02
	500 - 539	$22,601,961	0.04
	540 - 559	$17,288,378	0.03
	560 - 579	$21,524,564	0.04
	580 - 599	$30,425,648	0.06
	600 - 619	$61,407,278	0.11
	620 - 639	$100,731,215	0.19
	640 - 659	$160,342,897	0.30
	660 - 679	$260,703,070	0.48
	680 - 699	$338,801,879	0.63
	700 - 719	$389,680,461	0.72
	720 - 739	$456,208,945	0.85
	740 - 759	$454,550,905	0.84
	760 - 779	$476,094,001	0.88
	780 - 799	$511,882,967	0.95
	800 and above	$2,175,745,906	4.04
Total		$5,492,068,880	10.20

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 18 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Indexed LTV - Drawn by Credit Bureau Score (continued)
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
65.01 - 70.00	Score Unavailable	$780,089	0.00
	499 and below	$8,825,313	0.02
	500 - 539	$11,063,644	0.02
	540 - 559	$8,234,124	0.02
	560 - 579	$11,412,680	0.02
	580 - 599	$17,157,859	0.03
	600 - 619	$32,311,231	0.06
	620 - 639	$59,223,989	0.11
	640 - 659	$100,957,515	0.19
	660 - 679	$160,609,846	0.30
	680 - 699	$207,826,984	0.39
	700 - 719	$247,464,674	0.46
	720 - 739	$276,033,383	0.51
	740 - 759	$284,501,398	0.53
	760 - 779	$265,232,886	0.49
	780 - 799	$304,969,261	0.57
	800 and above	$1,343,884,076	2.50
Total		$3,340,488,952	6.21
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
70.01 - 75.00	Score Unavailable	$863,145	0.00
	499 and below	$7,197,246	0.01
	500 - 539	$5,083,372	0.01
	540 - 559	$4,673,336	0.01
	560 - 579	$9,275,469	0.02
	580 - 599	$16,398,296	0.03
	600 - 619	$26,056,567	0.05
	620 - 639	$51,158,213	0.10
	640 - 659	$79,793,406	0.15
	660 - 679	$113,455,297	0.21
	680 - 699	$147,745,534	0.27
	700 - 719	$203,857,445	0.38
	720 - 739	$207,113,583	0.38
	740 - 759	$203,786,690	0.38
	760 - 779	$231,707,398	0.43
	780 - 799	$243,340,447	0.45
	800 and above	$1,047,865,417	1.95
Total		$2,599,370,861	4.83
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
75.01 - 80.00	Score Unavailable	$185,736	0.00
	499 and below	$4,298,003	0.01
	500 - 539	$7,323,459	0.01
	540 - 559	$6,692,727	0.01
	560 - 579	$9,531,287	0.02
	580 - 599	$8,990,502	0.02
	600 - 619	$22,732,943	0.04
	620 - 639	$38,541,721	0.07
	640 - 659	$66,065,728	0.12
	660 - 679	$109,994,729	0.20
	680 - 699	$149,163,371	0.28
	700 - 719	$166,811,212	0.31
	720 - 739	$189,087,498	0.35
	740 - 759	$179,754,008	0.33
	760 - 779	$181,952,851	0.34
	780 - 799	$176,484,237	0.33
	800 and above	$547,298,370	1.02
Total		$1,864,908,379	3.47

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 19 of 21

	RBC Covered Bond Programme Monthly Investor Report
	Calculation Date:	10/31/2016

Cover Pool Indexed LTV - Drawn by Credit Bureau Score (continued)
Indexed LTV (%)	Credit Bureau Score	Principal Balance	Percentage
	Score Unavailable	$0	0.00
> 80.00	499 and below	$438,834	0.00
	500 - 539	$740,390	0.00
	540 - 559	$1,129,225	0.00
	560 - 579	$1,587,690	0.00
	580 - 599	$959,611	0.00
	600 - 619	$3,499,496	0.01
	620 - 639	$8,691,168	0.02
	640 - 659	$11,719,487	0.02
	660 - 679	$21,737,481	0.04
	680 - 699	$32,321,300	0.06
	700 - 719	$32,780,842	0.06
	720 - 739	$32,754,224	0.06
	740 - 759	$28,487,340	0.05
	760 - 779	$26,290,921	0.05
	780 - 799	$25,241,054	0.05
	800 and above	$63,042,232	0.12
Total		$291,421,295	0.54
Grand Total		$53,818,283,256	100.00

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 20 of 21

  RBC Covered Bond Programme Monthly Investor Report   Appendix     Housing Price Index Methodology

Indexation Methodology

The Market Value of the Properties used in calculating the Asset Coverage Test, the Valuation Calculation and the Amortization Test (except in respect of Calculation Dates prior to June 30, 2014) and for other purposes required by the Guide is adjusted, at least quarterly, for subsequent price developments with respect to the Property subject to the Related Security in respect of each such Loan by adjusting the Latest Valuation for such Property by a rate of change determined by the Index (as described below).

The Teranet-National Bank House Price Index™ Composite 11 (the Index) is an independently developed representation of monthly average home price changes in the following eleven Canadian metropolitan areas: Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa, Montréal, Québec and Halifax. These metropolitan areas are combined to form the Index. The Index is the weighted average of these eleven metropolitan areas.

Further details on the Index including a description of the method used to calculate the Index is available at www.housepriceindex.ca.

A three-step process is used to determine the Market Value for each Property subject to the Related Security in respect of a Loan.  First, a code (the Forward Sortation Area (FSA)) which identifies the location of the Property is compared to corresponding codes maintained by Teranet Inc. to confirm whether the property is located within any of the 11 Canadian metropolitan areas covered by the Index. Second, to the extent an FSA match is not found, the name of the city in which such Property is located is used to confirm whether such city matches any of the Canadian metropolitan areas covered by the Index. The Market Value is then determined by adjusting the Latest Valuation for such Property, at least quarterly, by the rate of change for the corresponding Canadian metropolitan area, and where there is no corresponding Canadian metropolitan area, the rate of change indicated in the Index, from the date of the Latest Valuation to the date on which the Latest Valuation is being adjusted for purposes of determining the Market Value for such Property. Where the Latest Valuation in respect of such Property pre-dates the first available date for the relevant rate of change in the Index, the first available date for such rate of change is used to determine the rate of change to apply to adjust the Latest Valuation for purposes of determining the Market Value for such Property.  Such adjusted Market Value is the adjusted Original Market Value referred to in footnote 2 on page 4 of the Investor Report.

The Issuer and the Guarantor LP may from time to time determine to use a different index or indices or a different indexation methodology to adjust the Latest Valuation for subsequent price developments to determine Market Value for example, to obtain rates of changes in home prices for metropolitan or geographic areas not covered by the Index, to use an index or indices that the Issuer and Guarantor LP believe will produce better or more reliable results or that is more cost effective. Any such change in the Index or Index Methodology used to determine Market Value will be disclosed to Covered Bondholders and made in accordance with the definition of "Market Value" and “Index Methodology” in the Master Definition and Construction Agreement and be required to meet the requirements in the Guide, which include the requirement that any such change may only be made (i) upon notice to CMHC and satisfaction of any other conditions specified by CMHC in relation thereto, (ii) if such change constitutes a material change, subject to Rating Agency Confirmation, and (iii) if such change is materially prejudicial to the Covered Bondholders, subject to the consent of the Bond Trustee. In addition, the Issuer is required, pursuant to the Guide, to provide CMHC notice upon becoming aware of any change or proposed change in the method used to calculate the Index.

No website referred to herein forms part of the Investor Report, nor have the contents of any such website been approved by or submitted to CMHC or any other governmental, securities or other regulatory authority.

Risk Factors relating to the Indexation Methodology

The Issuer and the Guarantor LP believe that the following factors, although not exhaustive, could be material for the purpose of assessing risks associated with the use of the Index.

No recourse for errors in the data in the Index

The Issuer and the Guarantor LP have received written permission from the Index providers to use the Index. The data in the Index is provided on an “as is” basis and without any warranty as to the accuracy, completeness, non-infringement, originality, timeliness or any other characteristic of the data and the Index providers disclaim any and all liability with respect to such data. Neither the Issuer nor the Guarantor LP makes any representation or warranty, express or implied, in relation to the accuracy, completeness or reliability of such information or assumes any liability for any errors or reliance placed on such information.  As a result, there will not be any recourse for investors, the Issuer or the Guarantor LP for any errors in the data in the Index relied upon to determine the Market Value in respect of any Property subject to the Related Security in respect of a Loan.

The actual rate of change in the value of a Property may differ from the rate of change used to adjust the Latest Valuation for such Property in determining its Market Value

The Index does not include a representation of changes in average home prices outside of the Canadian metropolitan areas that it covers and was developed as a representation of monthly average home price changes in the Canadian metropolitan areas that it does cover. While the Index uses data from single family properties, including detached, semi-detached, townhouse/row homes and condominium properties, it is being used to determine the Market Value of all Properties included as Related Security for Loans in the Covered Bond Portfolio, which may not correspond in every case to the categories included in the Index.  The actual value of a Property subject to the Related Security in respect of each Loan may change at a rate that is greater than or less than the rate of change used to determine the Market Value for such Property.  This discrepancy may be magnified when the Index is used to determine the Market Value for a Property outside of the Canadian metropolitan areas covered by the Index given factors that affect housing prices may vary significantly regionally from a national average or where the Index is used to determine Market Value for a Property in a category not covered by the Index and whose value is affected by factors that are different from those that affect the value of properties in the categories used by the Index. In addition, the methodology applied to produce the Index makes certain fundamental assumptions that impose difficulties in selecting or filtering the properties that are used to produce the Index due to a lack of information about the properties, which may result in such properties being excluded and may impact the accuracy of the representation of the rate of change in the Index.

The Index may not always be available in its current form or a different Index may be used to determine Market Value for a Property subject to Related Security in respect of a Loan

The Index providers may make a change to the method used to calculate the Index, the frequency with which the Index is published may change (such that the Index no longer meets the requirements in the Guide), or the Index may cease to be available to the Issuer and the Guarantor LP for determining the the Market Value of the Property subject to Related Security in respect of a Loan.  In such circumstances, the Issuer and the Guarantor LP may or will need to select one or more new indices for determining Market Value of the Property subject to Related Security in respect of a Loan. The Issuer and the Guarantor LP may also determine at any time to use a different index or indices to adjust the Latest Valuation of the Property subject to Related Security in respect of a Loan for subsequent price developments to determine the Market Value of such Property, for example, to obtain rates of changes in home prices for metropolitan or geographic areas not covered by the Index, to use an index or indices that the Issuer and Guarantor LP believe will produce better or more reliable Market Value results or that is more cost effective. The use of any such new indices to adjust Latest Valuation could result in a significant change in the Market Value of the real property subject to the Related Security in respect of each Loan. See "Housing Price Index Methodology - Indexation Methodology".

RBC Covered Bond Programme Monthly Investor Report - October 31, 2016 Page 21 of 21