Exhibit 99.1

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15

This report contains information regarding Bank of Montreal Registered Covered Bond Program’s Cover Pool as of the indicated Calculation Date. The composition of the Cover Pool will change as Mortgage Loans are added and removed from the Cover Pool from time to time and, accordingly, the characteristics and performance of the Mortgage Loans in the Cover Pool will vary over time.

This report is for distribution only under such circumstances as may be permitted by applicable law. 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. 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. The information set forth below has been obtained and based upon sources believed by Bank of Montreal to be accurate, however, Bank of Montreal makes no representation or warranty, express or implied, in relation to the accuracy, completeness or reliability of the information contained herein. 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. We assume no liability for any errors or any reliance you place on the information provided herein.

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.

Program Information

Series

Initial Principal
Amount

Translation Rate

C$ Equivalent

Final Maturity Date⁽²⁾

Coupon Rate

Rate Type

CB Series 1

€1,000,000,000

1.51500

$1,515,000,000

May 7, 2019

1.000%

Fixed

CB Series 2

€1,500,000,000

1.39090

$2,086,350,000

January 22, 2020

0.250%

Fixed

CB Series 3

£325,000,000

1.83900

$597,675,000

January 29, 2018

3m GBP LIBOR +19bps

Floating

CB Series 4

€1,500,000,000

1.43060

$2,145,900,000

August 5, 2020

0.375%

Fixed

CB Series 5

€1,000,000,000

1.50128

$1,501,280,000

September 21, 2022

0.750%

Fixed

CB Series 6

€135,000,000

1.48704

$200,750,400

September 28, 2035

1.597%

Fixed

Outstanding under the Global Registered Covered Bond Program as of the Calculation Date

$8,046,955,400

Issued prior to CMHC registration under the legacy Covered Bond Program ⁽¹⁾

$3,505,900,000

Total Covered Bond Outstanding

$11,552,855,400

Total Outstanding OSFI Covered Bond Limit

26,094,776,426

Weighted average maturity of Outstanding Covered Bonds (months)

59.72

Weighted average remaining term of Loans in Cover Pool (months)

22.39

Covered Bond Series Ratings

Moody’s

Fitch

DBRS

CB Series 1

Aaa

AAA

CB Series 2

Aaa

AAA

CB Series 3

Aaa

AAA

CB Series 4

Aaa

AAA

CB Series 5

Aaa

AAA

CB Series 6

Aaa

AAA

(1) Covered bonds outstanding under the legacy Covered Bond Program do not form part of the BMO Global Registered Covered Bond Program nor do they benefit from the Covered Bond Legislative Framework.

(2) An Extended Due for Payment Date twelve months after the Maturity Date has been specified in the Final Terms of each series. The Coupon Rate specified in respect of each series applies until the Final Maturity Date 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. The capitalized terms used here are defined in the Final Terms of each series.

Supplementary Information


Parties to Bank of Montreal Global Registered Covered Bond Program
Issuer		Bank of Montreal
Guarantor Entity		BMO Covered Bond Guarantor Limited Partnership
Servicer and Cash Manager		Bank of Montreal
Interest Rate Swap Provider		Bank of Montreal
Covered Bond Swap Provider		Bank of Montreal
Bond Trustee and Custodian		Computershare Trust Company of Canada
Cover Pool Monitor		KPMG LLP
Account Bank and GDA Provider		Bank of Montreal
Standby Bank Account and		Royal Bank of Canada
Standby GDA Provider
Principal Paying Agent		The Bank of New York Mellon


Bank of Montreal Credit Ratings
	Moody’s	Fitch	DBRS
Senior Debt	Aa3	AA-	AA
Short-Term Debt	P-1	F1+	R-1(high)
Ratings Outlook	Negative	Stable	Negative

Applicable Ratings of Standby Account Bank and Standby GDA Provider

	Moody’s	Fitch	DBRS
Royal Bank of Canada	P-1	F1+ or AA	R-1(high) or AA

Description of Ratings Triggers ⁽¹⁾⁽²⁾

A. Party Replacement Triggers

If the ratings of the counterparty falls below the level indicated below, such party is required to be replaced, or in the case of the Cash Manager, obtain a guarantee for its obligations.


Counterparty	Moody’s	Fitch	DBRS
Cash Manager (BMO)	P-1	F2 and BBB+	BBB(low)
Account Bank/GDA Provider (BMO)	P-1	F1 and A	R-1(middle) or AA(low)
Standby Account Bank/GDA Provider (RBC)	P-1	F1 or A	R-1(middle) or A(low)
Servicer (BMO)	Baa2	F2	BBB(low)
Interest Rate Swap Provider (BMO)	P-2 or A3	F3 and BBB-	R-2(high) or BBB(high)
Covered Bond Swap Provider (BMO)	P-2 or A3	F3 and BBB-	R-2(high) or BBB(high)
Paying Agent (BNY Mellon)	P-1	F1 and A	N/A

(1) Where only one rating is expressed, this rating represents the short-term rating (unless otherwise specified) and where two ratings are expressed, the first is short-term and the second is long-term.

(2) 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.


BMO Covered Bond Program		Monthly Investor Report - October 2015		1 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15

B. Summary of Specific Rating Trigger Actions

I) The following actions are required if the Cash Manager (BMO) undergoes a downgrade below the stipulated rating:


	Moody’s	Fitch	DBRS
a) The Servicer will be required to direct amounts received directly into the GDA Account (or Standby GDA Account if applicable) within 2 Canadian business days and the Cash Manager shall immediately remit any funds held at such time for or on behalf of the Guarantor directly into the GDA Account	P-1	F1 or A	R-1(middle) or AA(low)

II) The following actions are required if the Servicer (BMO) undergoes a downgrade below the stipulated rating:

	Moody’s	Fitch	DBRS
a) The Servicer will be required to direct amounts received to the Cash Manager, or GDA as applicable	P-1	F1 or A	R-1(middle) or BBB(low)

III) The Swap Provider is required to transfer credit support or transfer all of its rights and obligations to a replacement third party, or to obtain a guarantee of its rights and obligations from a third party, if the Swap Provider undergoes a downgrade below the stipulated rating:


	Moody’s⁽³⁾	Fitch	DBRS
a) Interest Rate Swap Provider	P-1 or A2	F1 and A	R-1(middle) or A (high)
b) Covered Bond Swap Provider	P-1 or A2	F1 and A	R-1(middle) or A (high)

IV) The following actions are required if the Issuer (BMO) undergoes a downgrade below the stipulated rating:


	Moody’s	Fitch	DBRS
a) Mandatory repayment of the Demand Loan	N/A	F2 or BBB+	N/A

b) Cashflows will be exchanged under the Covered Bond Swap Agreement (to the extent not already taking place)	Baa1	BBB+	BBB(high)

c) Transfer of title to Loans to Guarantor⁽⁴⁾	A3	BBB-	BBB(low)

Events of Defaults & Test Compliance
Asset Coverage Test (C$ Equivalent of Outstanding		Pass
Covered Bond < Adjusted Aggregate Asset Amount)
Issuer Event of Default		No
Guarantor LP Event of Default		No

(3) If no short term rating exists, then A1

(4) The transfer of registered title to the Loans to the Guarantor may be deferred if (A) satisfactory assurances are provided to the Guarantor and the Bond Trustee by The Office of the Superintendent of Financial Institutions or such other supervisory authority having jurisdiction over the Seller permitting registered title to the Loans to remain with the Seller until such time as (i) the Loans are to be sold or otherwise disposed of by the Guarantor or the Bond Trustee in the performance of their respective obligations under the Transaction Documents, or (ii) the Guarantor or the Bond Trustee is required to take actions to enforce or otherwise deal with the Loans, and (B) each of the Rating Agencies has confirmed that it will not withdraw or downgrade its then current ratings of the Covered Bonds as a result of such deferral.


Pre-Maturity Test

Following a breach of the Pre-Maturity test in respect of a Series of Hard Bullet Covered Bonds, and unless the Pre-Maturity Liquidity Ledger is otherwise funded from the other sources, the Partnership shall offer to sell Randomly Selected Loans if Final Maturity Date is within 12 months from the Pre-Maturity Test Date

(1) In the case of DBRS, if Final Maturity Date is within six months of the Pre-Maturity Test Date, then A(high), otherwise A(low).

Reserve Fund


Reserve Fund Required Amount Ratings	Moody’s	Fitch	DBRS
Senior		A	A(low)
Short Term	P-1	F1	R-1(middle)

Are the ratings of the Issuer below the Reserve Fund Required Amount Ratings?		No

If the ratings of the Issuer fall below the Reserve Fund Required Amount Ratings, then the Guarantor shall credit or cause to be credited to the Reserve Fund funds up to an amount equal to the Reserve Fund Required Amount.

Reserve Fund Required Amount: Nil


BMO Covered Bond Program		Monthly Investor Report - October 2015		2 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15


Asset Coverage Test

C$ Equivalent of Outstanding Covered Bonds	$	8,046,955,400

A ⁽¹⁾= Lesser of (i) Sum of LTV adjusted outstanding principal balance and (ii) Sum of Asset percentage adjusted outstanding principal balance	$	11,851,513,189		A (i)		12,675,415,175
B = Principal receipts not applied		-		A (ii)		11,851,513,189
C = Cash capital contributions		-	Asset Percentage		93.5%
D = Substitution assets		-	Maximum Asset
E = (i) Reserve fund balance		-	Percentage		95.0%
(ii) Pre - Maturity liquidity ledger balance		-
F = Negative carry factor calculation		-
Total: A + B + C + D + E - F	$	11,851,513,189

Asset Coverage Test Pass/Fail		Pass

(1) Market Value as determined by adjusting, not less than quarterly, the Original Market Value utilizing the Indexation Methodology (see Appendix for details) for subsequent price developments.
Valuation Calculation

Trading Value of Covered Bonds	$	8,080,659,623

A = Lesser of i) Present value of outstanding loan balance of Performing		12,766,143,854
Eligible Loans⁽¹⁾and ii) 80% of Market Value⁽²⁾of properties securing
Performing Eligible Loans, net of adjustments				A (i)		12,766,143,854
B = Principal receipts up to calculation date not otherwise applied		-		A (ii)		22,591,448,860
C = Cash capital contributions		-
D = Trading Value of any Substitute Assets		-
E = (i) Reserve Fund Balance, if applicable		-
(ii) Pre - Maturity liquidity ledger balance		-
F = Trading Value of Swap Collateral		-

Total: A + B + C + D + E + F	$	12,766,143,854

(1) Present value of expected future cash flows of Loans using current market interest rates offered to BMO clients. The effective weighted average rate used for discounting is 2.49%.
(2) Market Value as determined by adjusting, not less than quarterly, the Original Market Value utilizing the Indexation Methodology (see Appendix for details) for subsequent price developments.
Intercompany Loan Balance

Guarantee Loan	$	8,610,511,600
Demand Loan		4,586,000,000

Total	$	13,196,511,600

Cover Pool Losses


Period end	Write Off Amounts	Loss Percentage (Annualized)
October 31, 2015	$0	0.00%

Cover Pool Flow of Funds


	Current Month		Previous Month
Cash Inflows
Principal receipts		443,613,186		471,480,273
Proceeds for sale of Loans		-		-
Revenue Receipts		30,346,947		32,315,974
Swap Receipts		3,517,322		5,306,590
Cash Capital Contribution
Advances of Intercompany Loans		-		-
Guarantee Fee		-		-
Cash Outflows
Swap Payment		-		-
Intercompany Loan interest		(16,491,191)		(17,644,200)
Intercompany Loan principal		(471,167,800)		(426,099,396)
Intercompany Loan repayment
Mortgage Top-up Settlement		-		-
Misc Partnership Expenses		(73)		(65)
Profit Distribution to Partners		(1,094)		-

Net inflows/(outflows)		(10,182,703)		65,359,175

Cover Pool - Summary Statistics


Asset Type		Mortgages
Previous Month Ending Balance		13,135,784,347
Aggregate Outstanding Balance	$	12,685,274,328
Number of Loans		52,830
Average Loan Size	$	240,115
Number of Primary Borrowers		50,677
Number of Properties		52,830
		Original ⁽²⁾			Indexed ⁽¹⁾
Weighted Average Current Loan to Value (LTV)		59.37%			51.71%
Weighted Average Authorized LTV		66.94%			58.13%
Weighted Average Original LTV		66.94%
Weighted Average Seasoning		27.51	(Months	)
Weighted Average Coupon		2.78%
Weighted Average Original Term		49.90	(Months	)
Weighted Average Remaining Term		22.39	(Months	)
Substitution Assets		Nil

⁽¹⁾Value as determined by adjusting, not less than quarterly, the Original Market Value utilizing the Indexation Methodology (see Appendix for details) for subsequent price developments.

⁽²⁾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).


BMO Covered Bond Program		Monthly Investor Report - October 2015		3 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15

Cover Pool - Delinquency Distribution


Aging Summary	Number of Loans		Percentage		Principal Balance		Percentage
Current and less than 30 days past due		52,647		99.65	$	12,641,003,038		99.65
30 - 59 days past due		103		0.19	$	25,557,949		0.20
60 - 89 days past due		29		0.05	$	8,854,188		0.07
90 or more days past due		51		0.10	$	9,859,153		0.08

Grand Total		52,830		100.00	$	12,685,274,328		100.00

Cover Pool - Provincial Distribution


Province	Number of Loans		Percentage		Principal Balance		Percentage
Alberta		6,361		12.04	$	1,435,093,079		11.31
British Columbia		9,475		17.93	$	3,492,036,317		27.53
Manitoba		912		1.73	$	153,877,783		1.21
New Brunswick		862		1.63	$	103,922,316		0.82
Newfoundland		979		1.85	$	153,885,487		1.21
Northwest Territories & Nunavut		-		-	$	-		-
Nova Scotia		1,562		2.96	$	266,387,375		2.10
Ontario		21,622		40.93	$	5,049,117,365		39.80
Prince Edward Island		275		0.52	$	36,196,863		0.29
Quebec		9,002		17.04	$	1,633,885,874		12.88
Saskatchewan		1,780		3.37	$	360,871,869		2.84
Yukon Territories		-		-	$	-		-

Grand Total		52,830		100.00	$	12,685,274,328		100.00

Cover Pool - Credit Score Distribution


Credit Score	Number of Loans		Percentage		Principal Balance		Percentage
Less than 600 or Unavailable		3,314		6.27	$	849,317,679		6.70
600 - 650		2,334		4.42	$	589,445,587		4.65
651 - 700		5,696		10.78	$	1,466,958,211		11.56
701 - 750		11,420		21.62	$	2,989,219,945		23.56
751 - 800		19,952		37.77	$	4,857,412,554		38.29
801 and Above		10,114		19.14	$	1,932,920,352		15.24

Grand Total		52,830		100.00	$	12,685,274,328		100.00

Cover Pool - Rate Type Distribution


Rate Type	Number of Loans		Percentage		Principal Balance		Percentage
Fixed		43,631		82.59	$	10,084,787,391		79.50
Variable		9,199		17.41	$	2,600,486,937		20.50

Grand Total		52,830		100.00	$	12,685,274,328		100.00

Cover Pool - Mortgage Asset Type Distribution

Mortgage Asset Type

Number of Loans

Percentage

Principal Balance

Percentage

Conventional Amortizing Mortgages

52,830

100.00

12,685,274,328

100.00

Grand Total

52,830

100.00

12,685,274,328

100.00

Cover Pool - Occupancy Type Distribution


Occupancy Type	Number of Loans		Percentage		Principal Balance		Percentage
Owner Occupied		40,889		77.40	$	10,199,443,837		80.40
Non-Owner Occupied		11,941		22.60	$	2,485,830,491		19.60

Grand Total		52,830		100.00	$	12,685,274,328		100.00

Cover Pool - Mortgage Rate Distribution


Mortgage Rate (%)	Number of Loans		Percentage		Principal Balance		Percentage
Less than 1.00		-		-	$	-		-
1.00 - 3.99		52,233		98.87	$	12,597,411,248		99.31
4.00 - 4.49		402		0.76	$	58,745,065		0.46
4.50 - 4.99		134		0.25	$	20,209,006		0.16
5.00 - 5.49		45		0.09	$	6,866,459		0.05
5.50 - 5.99		12		0.02	$	1,419,193		0.01
6.00 - 6.49		4		0.01	$	623,357		0.00
6.50 - 6.99		-		-	$	-		-
7.00 - 7.49		-		-	$	-		-
7.50 - 7.99		-		-	$	-		-
8.00 and Above		-		-	$	-		-

Grand Total		52,830		100.00	$	12,685,274,328		100.00


BMO Covered Bond Program		Monthly Investor Report - October 2015		4 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15


Cover Pool - Indexed LTV Distribution ⁽¹⁾


Indexed LTV (%)	Number of Loans		Percentage		Principal Balance		Percentage
20.00 and Below		5,112		9.68	$	391,652,632		3.09
20.01 - 25.00		2,386		4.52	$	311,342,170		2.45
25.01 - 30.00		2,736		5.18	$	438,549,287		3.46
30.01 - 35.00		2,896		5.48	$	534,518,922		4.21
35.01 - 40.00		3,094		5.86	$	693,228,556		5.46
40.01 - 45.00		3,859		7.30	$	1,006,877,368		7.94
45.01 - 50.00		4,531		8.58	$	1,330,586,596		10.49
50.01 - 55.00		6,320		11.96	$	2,071,583,559		16.33
55.01 - 60.00		7,270		13.76	$	2,200,688,370		17.35
60.01 - 65.00		7,642		14.47	$	1,855,825,141		14.63
65.01 - 70.00		3,498		6.62	$	911,136,099		7.18
70.01 - 75.00		2,787		5.28	$	739,866,700		5.83
75.01 - 80.00		699		1.32	$	199,418,928		1.57
80.01 and Above		-		-	$	-		-

Grand Total		52,830		100.00		12,685,274,328		100.00

⁽¹⁾Value as determined by adjusting, not less than quarterly, the Original Market Value utilizing the Indexation Methodology (see Appendix for details) for subsequent price developments.


Cover Pool - Remaining Term Distribution


Months to Maturity	Number of Loans		Percentage		Principal Balance		Percentage
Less than 12		11,580		21.92	$	3,170,291,102		24.99
12 - 17		8,833		16.72	$	2,228,779,845		17.57
18 - 24		14,271		27.01	$	2,960,145,513		23.34
25 - 30		6,932		13.12	$	1,434,317,312		11.31
31 - 36		2,335		4.42	$	665,721,904		5.25
37 - 42		1,537		2.91	$	415,830,230		3.28
43 - 48		3,752		7.10	$	957,270,590		7.55
49 - 54		3,457		6.54	$	821,230,193		6.47
55 - 60		19		0.04	$	3,208,080		0.03
61 - 63		1		0.00	$	183,204		0.00
72 and Above		113		0.21	$	28,296,356		0.22

Grand Total		52,830		100.00	$	12,685,274,328		100.00


Cover Pool - Remaining Principal Balance Distribution


Remaining Principal Balance (C$)	Number of Loans		Percentage		Principal Balance		Percentage
99,999 and Below		10,471		19.82	$	667,298,919		5.26
100,000 - 199,999		17,915		33.91	$	2,686,861,531		21.18
200,000 - 299,999		12,360		23.40	$	3,025,747,771		23.85
300,000 - 399,999		5,654		10.70	$	1,941,443,317		15.30
400,000 - 499,999		2,610		4.94	$	1,161,766,411		9.16
500,000 - 599,999		1,328		2.51	$	724,031,565		5.71
600,000 - 699,999		722		1.37	$	466,740,452		3.68
700,000 - 799,999		364		0.69	$	271,573,514		2.14
800,000 - 899,999		296		0.56	$	252,004,533		1.99
900,000 - 999,999		210		0.40	$	198,812,421		1.57
1,000,000 - 1,499,999		603		1.14	$	737,335,984		5.81
1,500,000 - 2,000,000		232		0.44	$	400,717,053		3.16
2,000,000 - 3,000,000		65		0.12	$	150,940,858		1.19
3,000,000 and Above		-		-	$	-		-

		52,830		100.00	$	12,685,274,328		100.00


Cover Pool - Property Type Distribution


Property Type	Number of Loans		Percentage		Principal Balance		Percentage
Condominium		11,019		20.86	$	2,068,436,345		16.31
Multi-Residential		2,696		5.10	$	627,876,827		4.95
Single Family		35,222		66.67	$	9,137,441,598		72.03
Townhouse		3,893		7.37	$	851,519,558		6.71

Grand Total		52,830		100.00		12,685,274,328		100.00

Note: Percentages and totals in the above tables may not add exactly due to rounding.


Cover Pool - Indexed LTV and Delinquency Distribution by Province ⁽¹⁾



		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	$	38,462,226	$	-	$	-	$	22,545	$	38,484,771
	20.01 - 25	$	28,016,646	$	-	$	-	$	-	$	28,016,646
	25.01 - 30	$	43,212,866	$	576,179	$	-	$	-	$	43,789,045
	30.01 - 35	$	57,645,010	$	-	$	-	$	86,540	$	57,731,551
	35.01 - 40	$	55,118,604	$	-	$	-	$	-	$	55,118,604
	40.01 - 45	$	85,950,025	$	194,109	$	661,482	$	-	$	86,805,616
	45.01 - 50	$	104,926,611	$	-	$	-	$	-	$	104,926,611
	50.01 - 55	$	168,833,559	$	295,089	$	-	$	-	$	169,128,648
	55.01 - 60	$	222,689,369	$	604,328	$	-	$	-	$	223,293,698
	60.01 - 65	$	316,220,160	$	572,841	$	194,532	$	730,497	$	317,718,030
	65.01 - 70	$	166,173,209	$	-	$	-	$	-	$	166,173,209
	70.01 - 75	$	90,219,188	$	-	$	-	$	-	$	90,219,188
	75.01 - 80	$	53,687,463	$	-	$	-	$	-	$	53,687,463
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			1,431,154,937		2,242,545		856,014		839,583		1,435,093,079


BMO Covered Bond Program		Monthly Investor Report - October 2015		5 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15


		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	$	134,361,246	$	252,394	$	-	$	77,830	$	134,691,469
	20.01 - 25	$	108,422,273	$	-	$	-	$	208,383	$	108,630,656
	25.01 - 30	$	141,729,735	$	620,666	$	-	$	-	$	142,350,401
	30.01 - 35	$	178,674,271	$	-	$	-	$	-	$	178,674,271
	35.01 - 40	$	248,682,112	$	593,202	$	266,128	$	128,730	$	249,670,173
	40.01 - 45	$	403,471,500	$	-	$	-	$	356,735	$	403,828,235
	45.01 - 50	$	498,820,660	$	964,800	$	-	$	963,084	$	500,748,545
	50.01 - 55	$	824,772,173	$	2,071,381	$	445,188	$	-	$	827,288,743
	55.01 - 60	$	595,302,918	$	-	$	1,539,343	$	1,001,448	$	597,843,709
	60.01 - 65	$	214,383,643	$	709,577	$	-	$	195,538	$	215,288,757
	65.01 - 70	$	95,450,537	$	267,578	$	-	$	-	$	95,718,115
	70.01 - 75	$	35,678,271	$	568,259	$	-	$	-	$	36,246,530
	75.01 - 80	$	1,056,714	$	-	$	-	$	-	$	1,056,714
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			3,480,806,050		6,047,858		2,250,659		2,931,749		3,492,036,317


		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	$	3,174,655	$	-	$	-	$	-	$	3,174,655
	20.01 - 25	$	2,526,610	$	-	$	-	$	-	$	2,526,610
	25.01 - 30	$	3,352,248	$	-	$	-	$	-	$	3,352,248
	30.01 - 35	$	5,202,013	$	-	$	-	$	-	$	5,202,013
	35.01 - 40	$	4,382,451	$	-	$	-	$	-	$	4,382,451
	40.01 - 45	$	6,718,537	$	150,407	$	-	$	-	$	6,868,944
	45.01 - 50	$	8,443,129	$	-	$	-	$	-	$	8,443,129
	50.01 - 55	$	12,341,371	$	185,273	$	-	$	-	$	12,526,644
	55.01 - 60	$	23,788,469	$	151,785	$	-	$	-	$	23,940,254
	60.01 - 65	$	46,349,509	$	275,491	$	-	$	-	$	46,625,000
	65.01 - 70	$	13,828,079	$	-	$	-	$	-	$	13,828,079
	70.01 - 75	$	17,606,316	$	-	$	174,508	$	-	$	17,780,824
	75.01 - 80	$	5,226,932	$	-	$	-	$	-	$	5,226,932
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			152,940,320		762,955		174,508		-		153,877,783


		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	$	3,378,202	$	-	$	-	$	-	$	3,378,202
	20.01 - 25	$	1,722,042	$	-	$	-	$	-	$	1,722,042
	25.01 - 30	$	3,342,440	$	-	$	-	$	-	$	3,342,440
	30.01 - 35	$	3,905,081	$	-	$	-	$	48,614	$	3,953,695
	35.01 - 40	$	4,686,061	$	-	$	-	$	39,787	$	4,725,848
	40.01 - 45	$	5,979,744	$	-	$	-	$	-	$	5,979,744
	45.01 - 50	$	6,856,537	$	-	$	-	$	-	$	6,856,537
	50.01 - 55	$	11,243,603	$	-	$	-	$	-	$	11,243,603
	55.01 - 60	$	19,039,597	$	-	$	-	$	172,796	$	19,212,393
	60.01 - 65	$	28,729,562	$	-	$	-	$	73,059	$	28,802,622
	65.01 - 70	$	10,643,057	$	-	$	-	$	149,441	$	10,792,497
	70.01 - 75	$	3,912,693	$	-	$	-	$	-	$	3,912,693
	75.01 - 80	$	-	$	-	$	-	$	-	$	-
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			103,438,618		-		-		483,698		103,922,316


		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	20.00 and Below	$	2,554,027	$	-	$	-	$	-	$	2,554,027
	20.01 - 25	$	2,557,890	$	-	$	-	$	-	$	2,557,890
	25.01 - 30	$	3,677,913	$	-	$	-	$	-	$	3,677,913
	30.01 - 35	$	4,583,971	$	62,632	$	-	$	-	$	4,646,604
	35.01 - 40	$	4,426,258	$	-	$	-	$	-	$	4,426,258
	40.01 - 45	$	5,218,608	$	-	$	-	$	-	$	5,218,608
	45.01 - 50	$	11,295,924	$	-	$	-	$	-	$	11,295,924
	50.01 - 55	$	10,910,796	$	-	$	-	$	-	$	10,910,796
	55.01 - 60	$	18,028,100	$	124,416	$	-	$	-	$	18,152,516
	60.01 - 65	$	55,987,733	$	-	$	100,542	$	305,882	$	56,394,157
	65.01 - 70	$	24,059,591	$	-	$	-	$	252,133	$	24,311,724
	70.01 - 75	$	9,368,766	$	-	$	-	$	-	$	9,368,766
	75.01 - 80	$	370,304	$	-	$	-	$	-	$	370,304
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			153,039,881		187,048		100,542		558,015		153,885,487


BMO Covered Bond Program		Monthly Investor Report - October 2015		6 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15


		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 Territories	20.00 and Below	$	-	$	-	$	-	$	-	$	-
	20.01 - 25	$	-	$	-	$	-	$	-	$	-
	25.01 - 30	$	-	$	-	$	-	$	-	$	-
	30.01 - 35	$	-	$	-	$	-	$	-	$	-
	35.01 - 40	$	-	$	-	$	-	$	-	$	-
	40.01 - 45	$	-	$	-	$	-	$	-	$	-
	45.01 - 50	$	-	$	-	$	-	$	-	$	-
	50.01 - 55	$	-	$	-	$	-	$	-	$	-
	55.01 - 60	$	-	$	-	$	-	$	-	$	-
	60.01 - 65	$	-	$	-	$	-	$	-	$	-
	65.01 - 70	$	-	$	-	$	-	$	-	$	-
	70.01 - 75	$	-	$	-	$	-	$	-	$	-
	75.01 - 80	$	-	$	-	$	-	$	-	$	-
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

		$	-	$	-	$	-	$	-	$	-


		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	$	3,706,448	$	-	$	-	$	-	$	3,706,448
	20.01 - 25	$	3,790,998	$	-	$	-	$	-	$	3,790,998
	25.01 - 30	$	5,575,179	$	-	$	-	$	-	$	5,575,179
	30.01 - 35	$	7,714,082	$	203,989	$	-	$	-	$	7,918,071
	35.01 - 40	$	7,931,509	$	57,092	$	-	$	-	$	7,988,601
	40.01 - 45	$	8,706,226	$	-	$	-	$	-	$	8,706,226
	45.01 - 50	$	15,063,264	$	-	$	-	$	-	$	15,063,264
	50.01 - 55	$	20,212,706	$	344,084	$	-	$	-	$	20,556,790
	55.01 - 60	$	30,645,228	$	-	$	-	$	-	$	30,645,228
	60.01 - 65	$	62,608,346	$	-	$	-	$	-	$	62,608,346
	65.01 - 70	$	42,011,693	$	-	$	-	$	-	$	42,011,693
	70.01 - 75	$	47,572,607	$	-	$	-	$	-	$	47,572,607
	75.01 - 80	$	10,243,924	$	-	$	-	$	-	$	10,243,924
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			265,782,210		605,165		-		-		266,387,375


		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	$	-	$	-	$	-	$	-	$	-
	20.01 - 25	$	-	$	-	$	-	$	-	$	-
	25.01 - 30	$	-	$	-	$	-	$	-	$	-
	30.01 - 35	$	-	$	-	$	-	$	-	$	-
	35.01 - 40	$	-	$	-	$	-	$	-	$	-
	40.01 - 45	$	-	$	-	$	-	$	-	$	-
	45.01 - 50	$	-	$	-	$	-	$	-	$	-
	50.01 - 55	$	-	$	-	$	-	$	-	$	-
	55.01 - 60	$	-	$	-	$	-	$	-	$	-
	60.01 - 65	$	-	$	-	$	-	$	-	$	-
	65.01 - 70	$	-	$	-	$	-	$	-	$	-
	70.01 - 75	$	-	$	-	$	-	$	-	$	-
	75.01 - 80	$	-	$	-	$	-	$	-	$	-
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

		$	-	$	-	$	-	$	-	$	-


		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	$	164,313,354	$	23,664	$	-	$	1	$	164,337,019
	20.01 - 25	$	129,843,194	$	806,155	$	-	$	-	$	130,649,349
	25.01 - 30	$	196,518,273	$	415,228	$	118,395	$	233,759	$	197,285,654
	30.01 - 35	$	221,207,528	$	117,480	$	-	$	-	$	221,325,008
	35.01 - 40	$	302,466,998	$	422,676	$	-	$	194,959	$	303,084,633
	40.01 - 45	$	398,906,229	$	1,129,928	$	-	$	-	$	400,036,158
	45.01 - 50	$	557,116,780	$	581,054	$	-	$	-	$	557,697,834
	50.01 - 55	$	814,746,950	$	2,170,164	$	125,167	$	92,278	$	817,134,559
	55.01 - 60	$	1,009,523,532	$	1,356,012	$	1,371,057	$	195,229	$	1,012,445,829
	60.01 - 65	$	706,837,987	$	1,310,329	$	382,812	$	455,041	$	708,986,170
	65.01 - 70	$	331,492,153	$	1,526,983	$	-	$	242,777	$	333,261,913
	70.01 - 75	$	183,531,158	$	519,809	$	-	$	-	$	184,050,967
	75.01 - 80	$	18,756,280	$	65,991	$	-	$	-	$	18,822,271
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			5,035,260,416		10,445,474		1,997,431		1,414,044		5,049,117,365


BMO Covered Bond Program		Monthly Investor Report - October 2015		7 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15


		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 Island	20.00 and Below	$	719,772	$	-	$	-	$	-	$	719,772
	20.01 - 25	$	374,560	$	-	$	-	$	-	$	374,560
	25.01 - 30	$	1,135,978	$	-	$	-	$	-	$	1,135,978
	30.01 - 35	$	1,289,946	$	-	$	-	$	-	$	1,289,946
	35.01 - 40	$	1,263,621	$	-	$	-	$	-	$	1,263,621
	40.01 - 45	$	1,341,266	$	-	$	-	$	-	$	1,341,266
	45.01 - 50	$	2,037,392	$	-	$	-	$	-	$	2,037,392
	50.01 - 55	$	4,468,437	$	-	$	-	$	-	$	4,468,437
	55.01 - 60	$	9,376,074	$	-	$	-	$	-	$	9,376,074
	60.01 - 65	$	9,236,760	$	-	$	-	$	-	$	9,236,760
	65.01 - 70	$	3,609,781	$	-	$	-	$	-	$	3,609,781
	70.01 - 75	$	1,343,275	$	-	$	-	$	-	$	1,343,275
	75.01 - 80	$	-	$	-	$	-	$	-	$	-
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			36,196,863		-		-		-		36,196,863


		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	$	35,701,110	$	-	$	-	$	103,769	$	35,804,879
	20.01 - 25	$	28,774,600	$	74,496	$	-	$	82,133	$	28,931,229
	25.01 - 30	$	34,399,774	$	-	$	-	$	-	$	34,399,774
	30.01 - 35	$	44,712,106	$	-	$	-	$	-	$	44,712,106
	35.01 - 40	$	52,852,769	$	-	$	-	$	-	$	52,852,769
	40.01 - 45	$	74,277,416	$	-	$	-	$	-	$	74,277,416
	45.01 - 50	$	96,259,691	$	356,926	$	94,704	$	261,573	$	96,972,894
	50.01 - 55	$	113,516,691	$	-	$	774,728	$	-	$	114,291,418
	55.01 - 60	$	163,782,864	$	1,467,059	$	406,972	$	157,223	$	165,814,118
	60.01 - 65	$	331,378,797	$	759,986	$	386,986	$	1,407,856	$	333,933,625
	65.01 - 70	$	201,250,536	$	624,032	$	370,842	$	865,171	$	203,110,582
	70.01 - 75	$	337,097,589	$	752,848	$	168,970	$	754,337	$	338,773,744
	75.01 - 80	$	109,831,427	$	-	$	179,893	$	-	$	110,011,320
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			1,623,835,370		4,035,347		2,383,095		3,632,063		1,633,885,874


		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	$	4,801,388	$	-	$	-	$	1	$	4,801,389
	20.01 - 25	$	4,142,190	$	-	$	-	$	-	$	4,142,190
	25.01 - 30	$	3,640,653	$	-	$	-	$	-	$	3,640,653
	30.01 - 35	$	9,065,659	$	-	$	-	$	-	$	9,065,659
	35.01 - 40	$	9,715,598	$	-	$	-	$	-	$	9,715,598
	40.01 - 45	$	13,815,158	$	-	$	-	$	-	$	13,815,158
	45.01 - 50	$	26,544,465	$	-	$	-	$	-	$	26,544,465
	50.01 - 55	$	82,853,586	$	458,355	$	721,979	$	-	$	84,033,920
	55.01 - 60	$	99,255,968	$	338,624	$	369,960	$	-	$	99,964,552
	60.01 - 65	$	75,797,097	$	434,578	$	-	$	-	$	76,231,675
	65.01 - 70	$	18,318,505	$	-	$	-	$	-	$	18,318,505
	70.01 - 75	$	10,598,105	$	-	$	-	$	-	$	10,598,105
	75.01 - 80	$	-	$	-	$	-	$	-	$	-
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

			358,548,373		1,231,556		1,091,939		1		360,871,869


		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 Territories	20.00 and Below	$	-	$	-	$	-	$	-	$	-
	20.01 - 25	$	-	$	-	$	-	$	-	$	-
	25.01 - 30	$	-	$	-	$	-	$	-	$	-
	30.01 - 35	$	-	$	-	$	-	$	-	$	-
	35.01 - 40	$	-	$	-	$	-	$	-	$	-
	40.01 - 45	$	-	$	-	$	-	$	-	$	-
	45.01 - 50	$	-	$	-	$	-	$	-	$	-
	50.01 - 55	$	-	$	-	$	-	$	-	$	-
	55.01 - 60	$	-	$	-	$	-	$	-	$	-
	60.01 - 65	$	-	$	-	$	-	$	-	$	-
	65.01 - 70	$	-	$	-	$	-	$	-	$	-
	70.01 - 75	$	-	$	-	$	-	$	-	$	-
	75.01 - 80	$	-	$	-	$	-	$	-	$	-
	80.01 and Above	$	-	$	-	$	-	$	-	$	-

		$	-	$	-	$	-	$	-	$	-

⁽¹⁾ Value as determined by adjusting, not less than quarterly, the Original Market Value utilizing the Indexation Methodology (see Appendix for details) for subsequent price developments.


BMO Covered Bond Program		Monthly Investor Report - October 2015		8 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15

Cover Pool - Current LTV Distribution by Credit Score ⁽¹⁾


	Credit Scores
Indexed LTV (%)	<600		600 - 650		651 - 700		701 - 750		751 - 800		>800		Total
20.00 and Below	$	28,134,549	$	7,616,854	$	22,122,388	$	56,373,867	$	150,621,647	$	126,783,328	$	391,652,632
20.01 - 25	$	20,539,929	$	11,555,171	$	21,134,438	$	51,230,970	$	124,557,702	$	82,323,960	$	311,342,170
25.01 - 30	$	29,487,431	$	11,163,358	$	33,030,529	$	84,199,145	$	173,150,807	$	107,518,017	$	438,549,287
30.01 - 35	$	46,398,759	$	21,446,176	$	43,251,567	$	104,696,373	$	203,572,654	$	115,153,393	$	534,518,922
35.01 - 40	$	50,519,839	$	28,086,955	$	64,824,465	$	152,932,970	$	263,832,908	$	133,031,418	$	693,228,556
40.01 - 45	$	83,286,956	$	34,633,615	$	96,061,178	$	216,857,954	$	415,593,481	$	160,444,184	$	1,006,877,368
45.01 - 50	$	112,366,347	$	62,247,341	$	149,584,736	$	292,880,949	$	499,548,684	$	213,958,539	$	1,330,586,596
50.01 - 55	$	162,077,512	$	93,730,007	$	248,249,304	$	492,457,073	$	811,925,321	$	263,144,342	$	2,071,583,559
55.01 - 60	$	165,375,384	$	107,776,011	$	252,587,033	$	541,872,735	$	840,551,309	$	292,525,899	$	2,200,688,370
60.01 - 65	$	91,730,157	$	108,944,003	$	246,520,850	$	476,217,248	$	697,928,288	$	234,484,595	$	1,855,825,141
65.01 - 70	$	27,381,386	$	57,163,323	$	139,755,764	$	249,311,990	$	339,441,349	$	98,082,287	$	911,136,099
70.01 - 75	$	25,210,900	$	37,962,007	$	111,792,831	$	206,185,050	$	273,069,596	$	85,646,316	$	739,866,700
75.01 - 80	$	6,808,531	$	7,120,765	$	38,043,129	$	64,003,622	$	63,618,808	$	19,824,073	$	199,418,928
80.01 and Above	$	-	$	-	$	-	$	-	$	-	$	-	$	-

	$	849,317,679	$	589,445,587	$	1,466,958,211	$	2,989,219,945	$	4,857,412,554	$	1,932,920,352	$	12,685,274,328

⁽¹⁾ Market Value as determined by adjusting, not less than quarterly, the Original Market Value utilizing the Indexation Methodology (see Appendix for details) for subsequent price developments.


BMO Covered Bond Program		Monthly Investor Report - October 2015		9 of 10

LOGO

BMO Global Registered Covered Bond Program Monthly Investor Report


		Calculation Date:		31-Oct-15
		Date of Report:		16-Nov-15

Appendix

Indexation Methodology

Starting July 1, 2014, the Guarantor employs an indexation methodology that meets the requirements provided for in the CMHC Guide to determine indexed valuations for Properties relating to the Loans in the Portfolio (which methodology may be changed from time to time and will, at any time, be disclosed in the then-current Investor Report and each future Investor Report for periods from and after July 1, 2014, the “Indexation Methodology”) for purposes of the Asset Coverage Test, the Amortization Test and the Valuation Calculation as set forth in the Guarantor Agreement, and for all other purposes as required by the CMHC Guide. Any update or other change to the Indexation Methodology must comply with the requirements of the CMHC Guide and will (i) require notice to CMHC and satisfaction of any other conditions specified by CMHC in relation thereto, (ii) if such update or other change constitutes a material amendment thereto, require satisfaction of the Rating Agency Condition, and (iii) if such update or other change is materially prejudicial to the Covered Bondholders, require the consent of the Bond Trustee.

Initially, the Indexation Methodology to be employed by the Guarantor will be based on (i) with respect to Properties located within the cities of Vancouver, Victoria, Calgary, Edmonton, Winnipeg, Ottawa-Gatineau, Hamilton, Toronto, Montreal, Quebec City and Halifax, data provided by Teranet through its House Price IndexTM (the “House Price Index”), and (ii) for Properties located in all other areas of Canada, a property value that is adjusted using the Teranet - National Bank Composite 11 House Price IndexTM (the “Composite 11 House Price Index”), which is calculated as a weighted average of the data for the eleven cities included in the House Price Index.

The data derived by the House Price Index is based on a repeat sales method, which measures the change in price of certain residential properties within the related area based on at least two sales of each such property over time. Such price change data is then used to formulate the House Price Index for the related area. Details of the House Price Index and the Composite 11 House Price Index may be found at www.housepriceindex.ca.

Certain risks are associated with the use of composite indices and statistics including the House Price Index and the Composite 11 House Price Index, such as (i) the data provided with respect to larger geographical areas could mask localized price fluctuations, and (ii) data on the growth rate for each type of dwelling is not available because the data provided combines all dwelling types and, therefore, the data provided may not reflect price fluctuations for the different types of dwellings. Accordingly, no assurance can be given that the valuation of the Properties in the Portfolio using the Indexation Methodology will result in an accurate determination of the actual realizable value of a particular Property or of the Portfolio as a whole. The Bank can give no assurance as to the accuracy of the information provided by the House Price Index or the Composite 11 House Price Index.


BMO Covered Bond Program		Monthly Investor Report - October 2015		10 of 10

(Applicable to Hard Bullet Covered Bonds)

Pre-Maturity Required Ratings

A(high) or A(low)

BMO Covered Bond Guarantor Limited Partnership 10-D