In addition to our strategy of focus, our Public Finance Banking group provides a comprehensive list of value added services to enhance our core banking expertise. These services include:

Integration between banking, sales, trading and underwriting

A key component of our strategy is the integration we have achieved between the taxable and tax-exempt sales and trading divisions and Public Finance Banking. This enhanced communication and integration provides a number of benefits to our clients:

• Broader and stronger distribution for issuers
• Enhanced product distribution
• More value-added services for investors

This combination creates a more streamlined and efficient organization that more closely aligns all of RBC Wealth Management’s Fixed Income Group resources with our clients’ needs.

Short term Trading & Sales

We operate a short-term desk focused on structuring, underwriting, placing, and remarketing variable rate and multi-modal debt. This strategy enables us to:

Specialized Financial Products and Services

Our Financial Products Group is a centralized business unit that works with bankers throughout the department to identify and implement innovative, cost-saving financial strategies for our clients. The group focuses on a wide array of products, including:

• Municipal bond market investment opportunities
• Reinvestment agreements
• Structured securities
• Interest rate swaps
• Tenders
• Swaps
• Caps
• Floors
• Forward pricing agreements
• Other synthetic structures

Private Label Web Sites

As a service to our financial advisory clients, RBC Wealth Management has established private label web sites with MuniAuction and Thomson Financial Municipal Group to let clients use electronic bidding on competitive sales.

Arbitrage Rebate Compliance Services

Our alliance with Orrick, Herrington & Sutcliffe LLP combines financial, technical, and legal expertise to ensure issuers receive the best arbitrage rebate services available.

Even Stronger Distribution Capabilities