MONTHLY NOTEHOLDER'S REPORT OF GOLDEN CREDIT CARD TRUST
Canadian Dollars unless otherwise specified
With respect to the Series set forth below Royal Bank of Canada ("RBC"), as Servicer (the "Servicer") under the Pooling and Servicing Agreement, dated as of October 30, 2009 (as amended and restated, the "Pooling and Servicing Agreement") between the Servicer and Computershare Advantage Trust of Canada (formerly, BNY Trust Company of Canada(1)), as agent, nominee and bare trustee for and on behalf of the Seller, the Co-Owners and other Persons who from time to time are party to the Series Purchase Agreements, is required to prepare certain information each month regarding the distributions to the Noteholders and the performance of the custodial pool of credit card receivables during the previous month.
Capitalized terms used herein are defined in the Trust Indenture, the Supplemental Indentures, the applicable Series Purchase Agreement, and the Pooling and Servicing Agreement. The information required to be prepared with respect to the
Distribution Day and with respect to the performance of the custodial pool of credit card receivables during the month of the Determination Period that is set forth below and with respect to the payments, allocations and deposits made on the Distribution Day that is set forth below.
Outstanding Series on the Determination Day Series 2021-1
Series 2022-1
Series 2022-3
Determination Day: Determination Period:
Number of Days in Determination Period:
10/31/2025
October 2025
31
Series 2023-1 Distribution Day: 11/17/2025
Prior Determination Period: September 2025
(1)Computershare Trust Company of Canada acquired BNY Trust Company of Canada on March 3, 2025 and upon closing changed its name to Computershare Advantage Trust of Canada.
Note:
On February 28, 2025, CIBC Mellon Trust Company resigned and BNY Trust Company of Canada was appointed as Indenture Trustee. Computershare Trust Company of Canada acquired BNY Trust Company of Canada on March 3, 2025 and upon closing changed its name to Computershare Advantage Trust of Canada.
MONTHLY NOTEHOLDER'S REPORT OF GOLDEN CREDIT CARD TRUST
Canadian Dollars unless otherwise specified
-
DEAL PARAMETERS
Series 2021-1
Series 2022-1
Series 2022-3
Series 2023-1
Initial Note Balance in Original Currency Class A
US$1,000,000,000.00
US$500,000,000.00
US$1,000,000,000.00
US$1,000,000,000.00
Class B
US$48,129,000.00
US$24,064,000.00
US$46,639,000.00
(1)
US$47,813,000.00
(3)
Class C
US$21,391,000.00
US$10,696,000.00
US$20,728,000.00
(2)
US$21,250,000.00
(4)
% (CAD)
Class A
93.5%
93.5%
93.5%
93.5%
Class B
4.5%
4.5%
4.5%
4.5%
Class C
2.0%
2.0%
2.0%
2.0%
Swap Notional if applicable
Class A
$1,260,000,000.00
$635,900,000.00
$1,315,000,000.00
$1,348,100,000.00
Class B
$60,642,540.00
$30,604,595.20
$63,288,770.00
$64,882,000.00
Class C
$26,952,660.00
$13,603,172.80
$28,128,342.00
$28,837,000.00
Note Coupon rate
Class A
1.14000%
1.97000%
SOFR + 120 bps
SOFR + 120 bps
Class B
1.44000%
2.36000%
6.86000%
6.35000%
Class C
1.74000%
2.66000%
8.00000%
7.66000%
Note Coupon Payment Frequency
Class A
Monthly
Monthly
Monthly
Monthly
Class B
Monthly
Monthly
Monthly
Monthly
Class C
Monthly
Monthly
Monthly
Monthly
Swap pay rate if applicable
Class A
1.41200%
2.29000%
4.40000%
4.06200%
Class B
1.71400%
2.66400%
5.79300%
5.57500%
Class C
2.01600%
2.96400%
6.84300%
6.82500%
Series Issuance Date
09/01/2021
02/03/2022
07/22/2022
04/14/2023
Expected Final Payment Date
08/17/2026
01/15/2027
07/16/2029
04/17/2028
Prescription Date (legal final)
08/15/2028
01/15/2029
07/15/2031
04/15/2030
-
NOTE PRINCIPAL
Series 2021-1
Series 2022-1
Series 2022-3
Series 2023-1
Beginning Note Principal Amount in Original
Currency
Class A
US$1,000,000,000.00
US$500,000,000.00
US$1,000,000,000.00
US$1,000,000,000.00
Class B
US$48,129,000.00
US$24,064,000.00
US$46,639,000.00
US$47,813,000.00
Class C
US$21,391,000.00
US$10,696,000.00
US$20,728,000.00
US$21,250,000.00
Ending Note Principal Amount in Original Currency
Class A
US$1,000,000,000.00
US$500,000,000.00
US$1,000,000,000.00
US$1,000,000,000.00
Class B
US$48,129,000.00
US$24,064,000.00
US$46,639,000.00
US$47,813,000.00
Class C
US$21,391,000.00
US$10,696,000.00
US$20,728,000.00
US$21,250,000.00
Notes:
USD 46,639,000 Class B notes converted from CAD to USD and issued on December 15, 2023.
USD 20,728,000 Class C notes converted from CAD to USD and issued on December 15, 2023.
USD 47,813,000 Class B notes converted from CAD to USD and issued on December 15, 2023.
USD 21,250,000 Class C notes converted from CAD to USD and issued on December 15, 2023.
MONTHLY NOTEHOLDER'S REPORT OF GOLDEN CREDIT CARD TRUST
Canadian Dollars unless otherwise specified
- COLLATERAL AMOUNTS AND ALLOCATION PERCENTAGES
Series 2021-1 | Series 2022-1 | Series 2022-3 | Series 2023-1 | |
Remaining Months until Expected Final Payment Date | 9 | 14 | 44 | 29 |
Beginning Invested Amount | $1,347,595,200.00 | $680,107,768.00 | $1,406,417,112.00 | $1,441,819,000.00 |
Uncovered Loss & Deficiency | $0.00 | $0.00 | $0.00 | $0.00 |
Deposit in reduction of Invested Amount | $0.00 | $0.00 | $0.00 | $0.00 |
Ending Invested Amount | $1,347,595,200.00 | $680,107,768.00 | $1,406,417,112.00 | $1,441,819,000.00 |
Floating Allocation Percentage | 9.78% | 4.93% | 10.20% | 10.46% |
Series Share | 9.78% | 4.93% | 10.20% | 10.46% |
Series Allocation Percentage | 27.64% | 13.95% | 28.84% | 29.57% |
IV. SERIES ACCOUNT BALANCES | ||||
Series 2021-1 | Series 2022-1 | Series 2022-3 | Series 2023-1 | |
1) Distribution Account Beginning Balance | $1,634.44 | $865.55 | $1,998.52 | $2,017.01 |
Deposit | $3,239,449.84 | $2,635,413.69 | $10,586,356.31 | $10,068,939.15 |
Withdraw | -$3,238,972.11 | -$2,635,096.30 | -$10,585,308.40 | -$10,067,924.62 |
Ending Balance | $2,112.17 | $1,182.94 | $3,046.43 | $3,031.54 |
2) Reserve Account Begininng Balance | $0.00 | $0.00 | $0.00 | $0.00 |
Deposit | $0.00 | $0.00 | $0.00 | $0.00 |
Withdraw | $0.00 | $0.00 | $0.00 | $0.00 |
Interest Income | $0.00 | $0.00 | $0.00 | $0.00 |
Ending Balance | $0.00 | $0.00 | $0.00 | $0.00 |
V. KEY PORTFOLIO PERFORMANCE STATISTICS | ||||
Series 2021-1 | Series 2022-1 | Series 2022-3 | Series 2023-1 | |
Portfolio Yield | 27.39% | 27.39% | 27.39% | 27.39% |
Yield on Eligible Investments | 0.00% | 0.00% | 0.00% | 0.00% |
Blended Coupon and Additional Funding Expenses | 1.44% | 2.32% | 4.52% | 4.19% |
Net Written-off Percentage (net of Recoveries) | 3.00% | 3.00% | 3.00% | 3.00% |
SERIES EXCESS SPREAD % Series Income Share | $31,463,233.51 | $15,878,944.59 | $32,836,589.21 | $33,663,141.47 |
Funding Costs | $1,614,115.57 | $1,314,741.15 | $5,286,353.56 | $5,027,578.75 |
Additional Funding Expenses | $5,612.08 | $2,832.33 | $5,857.06 | $6,004.49 |
Series Pool Losses | $4,077,557.95 | $2,057,872.30 | $4,255,541.48 | $4,362,660.63 |
Excess Series Income Share | $25,765,947.91 | $12,503,498.81 | $23,288,837.12 | $24,266,897.60 |
Invested Amount | $1,347,595,200.00 | $680,107,768.00 | $1,406,417,112.00 | $1,441,819,000.00 |
Series Excess Spread % - Current Determination Period | 22.94% | 22.06% | 19.87% | 20.20% |
Series Excess Spread % - Prior Determination Period | 21.22% | 20.34% | 18.15% | 18.47% |
Series Excess Spread % - 2nd prior Determination Period | 20.78% | 19.90% | 17.71% | 18.04% |
Series Excess Spread % - 3 month average | 21.65% | 20.77% | 18.58% | 18.90% |
Excess of Series Income Share over Funding Costs and other series allocable expenses | ||||
3 month average | $22,066,641.78 | $10,636,472.79 | $19,427,692.03 | $20,308,600.81 |
Test if >0 in compliance? | Yes | Yes | Yes | Yes |
MONTHLY NOTEHOLDER'S REPORT OF GOLDEN CREDIT CARD TRUST
Canadian Dollars unless otherwise specified VI. POOL BALANCE, COLLECTIONS, & RETAINED INTERESTPOOL BALANCE ROLLFORWARD: | Number of Accounts | ||
(1) | Beginning Pool Balance | $13,784,083,399.29 | 10,115,127 |
(2) | Principal Receivables billed | $8,487,101,218.05 | |
(3) | Miscellaneous debits & debit adjustments | $14,276,383.15 | |
(4) | Principal Receivables balance in added Accounts at beginning of Determination Day | $0.00 | |
(5) | Principal Receivables balance of Removed Accounts | $0.00 | |
(6) | Total payments of Principal Receivables (net of Recoveries) | $8,404,683,796.97 | |
(7) | Written-off Amounts in respect of Principal (i.e. charge-offs) | $41,707,924.49 | |
(8) | Miscellaneous credits & credit adjustments | $277,243,148.57 | |
(1)+(2)+(3)+(4)-(5)-(6)-(7)-(8) | Ending Pool Balance | $13,561,826,130.46 | 10,153,488 |
COLLECTIONS: (1) | Recoveries | $7,249,800.46 | |
(2) | Collections of Principal Receivables | $8,404,683,796.97 | |
(3) | Collections of Finance Charge Receivables (net of Recoveries) | $314,576,690.66 | |
(1)+(2)+(3) | Total Collections | $8,726,510,288.09 | |
Monthly Payment Rate current Determination Period (Total Collections net of Recoveries as % of Beginning Pool Balance) | 63.31% | ||
Monthly Payment Rate prior Determination Period | 58.60% | ||
Monthly Payment Rate second prior Determination Period | 56.63% | ||
Average latest three Determination Periods Test: Average Payment Rate > or = 10.00% In compliance? (Yes/No) If No, then Amortization Event | 59.51% Yes | ||
Portfolio Yield current Determination Period | 27.39% | ||
(Finance Charge Collections net of Recoveries as % of Beginning Pool Balance)
Portfolio Yield prior Determination Period | 25.52% | |||||
Portfolio Yield second prior Determination Period | 24.69% | |||||
Average latest three Determination Periods | 25.87% | |||||
DELINQUENCIES: | Total Receivables | % of Total Receivables | Number of Accounts | % of Accounts | ||
31-60 days delinquent | $120,076,271 | 0.88% | 12,587 | 0.12% | ||
61-90 days delinquent | $80,970,245 | 0.59% | 6,962 | 0.07% | ||
91-120 days delinquent | $57,919,084 | 0.42% | 4,619 | 0.05% | ||
121-150 days delinquent | $35,952,315 | 0.26% | 2,967 | 0.03% | ||
> 150 days delinquent | $28,815,313 | 0.21% | 1,769 | 0.02% | ||
Total | $323,733,228 | 2.36% | 28,904 | 0.29% |
Canadian Dollars unless otherwise specified
WRITTEN-OFF AMOUNTS: Written-off Amounts (i.e. charge-offs) | $41,707,924.49 | ||
Recoveries | $7,249,800.46 | ||
Net Written-off Amounts | $34,458,124.03 | ||
Written-off percentage (annualized) | 3.63% | ||
Recovery percentage (annualized) | 0.63% | ||
Net Written-off percentage (annualized) | 3.00% | ||
Number of Written-off Accounts | 2,558 | ||
RETAINED INTEREST: (1) Total Invested Amount | $4,875,939,080.00 | ||
(2) Required Pool Percentage | 107% | ||
(1)x(2)=(3) Required Pool Balance | $5,217,254,815.60 | ||
(4) | $13,561,826,130.46 | ||
(4)/(1)=(5) Pool Percentage Test: Ending Pool Balance >= Required Pool Balance In compliance? (Yes/No) | 278% Yes | ||
(1) Pool Balance | 100.00% | $13,561,826,130.46 | |
(2) Total Invested Amount 35.95% $4,875,939,080.00 | |||
(1)-(2) | Retained Interest | 64.05% | $8,685,887,050.46 |
(1) | Retained Interest | $8,685,887,050.46 |
(2) | Aggregate Principal Amount of Notes (CAD Equivalent) | $4,875,939,080.00 |
(1)/(2)=(3) | Seller's Interest Percentage | 178.14% |
No Activity to Report
Most Recent Form ABS - 15G Filed by: Royal Bank of Canada CIK#: 0001000275Filing Date: February 13, 2025
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RBC - Royal Bank of Canada published this content on November 13, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 13, 2025 at 19:02 UTC.
