EXHIBIT 34.1













Report of Independent Registered Public Accounting Firm



To the Board of Directors of Royal Bank of Canada



We have examined management’s assertion, included in the accompanying Report on Assessment
of Compliance with Applicable Servicing Criteria for Covered Bonds by Royal Bank of Canada, that Royal Bank of Canada (the “Bank”) complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commission's
Regulation AB for the residential mortgages in the cover pool held by the RBC Covered Bond Guarantor Limited Partnership (the “Platform”),
as of October 31, 2019 and for the year then ended, excluding criteria 1122(d)(1)(ii), 1122(d)(1)(iii), 1122(d)(1)(iv), 1122(d)(1)(v),
1122(d)(2)(iii) and 1122(d)(2)(vi), which the Bank has determined are not applicable to the servicing activities performed by it
with respect to the Platform. Royal Bank of Canada’s management is responsible for its assertion and for the Bank's compliance
with the applicable servicing criteria.  Our responsibility is to express an opinion on management's assertion based on our
examination.



Our examination was conducted in accordance with attestation standards of the Public Company Accounting
Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified
Public Accountants.Those standards require that
we plan and perform the examination to obtain reasonable assurance about whether management’s assertion about compliance
with the applicable servicing criteria is fairly stated, in all material respects, and, accordingly, included examining, on a test
basis, evidence about the Bank’s compliance with the applicable servicing criteria and performing such other procedures as
we considered necessary in the circumstances.  Our examination included testing of selected transactions and securities that
comprise the Platform, testing of selected servicing activities related to the Platform, and determining whether the Bank processed
those selected transactions and performed those selected activities in compliance with the applicable servicing criteria. Our procedures
were limited to the selected transactions and servicing activities performed by the Bank during the period covered by this report. 
Our procedures were not designed to detect noncompliance arising from errors that may have occurred prior to or subsequent to our
tests that may have affected the balances or amounts calculated or reported by the Bank during the period covered by this report.
We believe that our examination provides, and that the evidence we obtained is sufficient and appropriate to provide, a reasonable
basis for our opinion. Our examination does not provide a legal determination on the Bank’s compliance with the servicing
criteria.



In our opinion, management’s assertion that the Bank complied with the aforementioned applicable
servicing criteria as of and for the year ended October 31, 2019
for the Platform is fairly stated, in all material respects.







/s/ PricewaterhouseCoopers LLP

Chartered Professional Accountants, Licensed Public Accountants

Toronto, Canada

January 29, 2020