EX-25.1 13 s001124x1_ex25-1.htm EXHIBIT 25.1
EXHIBIT 25.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) [x]

____________________

THE BANK OF NEW YORK MELLON

____________________

(Exact name of trustee as specified in its charter)

New York
13-5160382
(Jurisdiction of incorporation of organization if not a U.S. national bank)
(I.R.S. Employer Identification No.)

One Wall Street, New York, N.Y.  10286

(Address of principal executive offices, including zip code)
____________________

BA Credit Card Trust
 
(Exact name of obligor as specified in its charter)
   
Delaware
01-0864848
(State or other jurisdiction or incorporation or organization)
(I.R.S. Employer Identification No.)

214 N. Tryon Street, NC1-027-20-05, Charlotte, North Carolina 28255

(Address of principal executive offices, including zip code)
 
____________________

 Asset Backed Securities

(Title of the indenture securities)
 

ITEM 1. GENERAL INFORMATION.
 
Furnish the following information as to the trustee:

(a) Name and address of each examining or supervising authority to which it is subject.

Superintendent of Banks of the State of New York
One State Street, New York, N.Y. 10004-1417 and Albany, N.Y. 12223

Federal Reserve Bank of New York
33 Liberty Street, New York, N.Y.  10045

Federal Deposit Insurance Corporation
Washington, D.C. 20429

New York Clearing House Association
New York, N.Y. 10005

(b) Whether it is authorized to exercise corporate trust powers.

Yes.

ITEM 2. AFFILIATIONS WITH THE OBLIGOR.

If the obligor is an affiliate of the trustee, describe each such affiliation:

None.

ITEM 16. LIST OF EXHIBITS.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a‑29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R. 229.10(d).

1.           A copy of the Organization Certificate of The Bank of New York Mellon (formerly known as The Bank of New York, itself formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672, Exhibit 1 to Form T-1 filed with Registration Statement No. 33‑29637, Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195 and Exhibit 1 to Form T-1 filed with Registration Statement No. 333-152735).

4.           A copy of the existing By-laws of the Trustee (Exhibit 4 to Form T-1 filed with Registration Statement No. 333-188382).

6.           The consent of the Trustee required by Section 321(b) of the Act (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-188382).

7.           A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.
 
SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, The Bank of New York Mellon, a corporation organized and existing under the laws of the State of New York, has duly caused this Statement of Eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York and State of New York, on the 4th day of December, 2015.


 
THE BANK OF NEW YORK MELLON 
      
 
By:
/s/ Esther Antoine
 
Name:
Esther Antoine
 
Title:
Vice President
 
Exhibit 7

Consolidated Report of Condition of

THE BANK OF NEW YORK MELLON
 
of One Wall Street, New York, N.Y. 10286
 And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business September 30, 2015, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.
 
ASSETS
 
Dollar amounts in thousands
 
Cash and balances due from depository institutions:
  
Noninterest-bearing balances and currency and coin
7,666,000
Interest-bearing balances  
94,003,000
Securities:
  
Held-to-maturity securities  
42,625,000
Available-for-sale securities  
73,718,000
Federal funds sold and securities purchased under agreements to resell:
  
Federal funds sold in domestic offices  
6,000
Securities purchased under agreements to resell
19,711,000
Loans and lease financing receivables:
  
Loans and leases held for sale
338,000
Loans and leases, net of unearned income
35,257,000
LESS: Allowance for loan and lease losses  
159,000
Loans and leases, net of unearned income and allowance  
35,098,000
Trading assets  
4,501,000
Premises and fixed assets (including capitalized leases)
1,020,000
Other real estate owned  
6,000
Investments in unconsolidated subsidiaries and associated companies
505,000
Direct and indirect investments in real estate ventures
0
Intangible assets:
  
Goodwill  
6,332,000
Other intangible assets  
1,067,000
Other assets  
15,601,000
Total assets
302,197,000
 
 
LIABILITIES
  
Deposits:
  
In domestic offices  
137,470,000
Noninterest-bearing  
94,006,000
Interest-bearing  
43,464,000
In foreign offices, Edge and Agreement subsidiaries, and IBFs
122,350,000
Noninterest-bearing  
7,114,000
Interest-bearing  
115,236,000
Federal funds purchased and securities sold under agreements to repurchase:
  
Federal funds purchased in domestic offices
290,000
Securities sold under agreements to repurchase
216,000
Trading liabilities  
4,352,000
Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)
6,746,000
Not applicable
  
Not applicable
  
Subordinated notes and debentures  
765,000
Other liabilities  
8,132,000
Total liabilities  
280,321,000
   
EQUITY CAPITAL
  
Perpetual preferred stock and related surplus
0
Common stock  
1,135,000
Surplus (exclude all surplus related to preferred stock)
10,203,000
Retained earnings  
11,835,000
Accumulated other comprehensive income
-1,647,000
Other equity capital components
0
Total bank equity capital                                                                                              
21,526,000
Noncontrolling (minority) interests in consolidated subsidiaries
350,000
Total equity capital  
21,876,000
Total liabilities and equity capital  
302,197,000
 
 
I, Thomas P. Gibbons, Chief Financial Officer of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.
Thomas P. Gibbons,
 Chief Financial Officer
 
We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.
 
Gerald L. Hassell
Catherine A. Rein
Joseph J. Echevarria
  
Directors