EXHIBIT 25.1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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)__
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U.S. BANK NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)
000 Xxxx Xxxxxx Xxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000 00-0000000
(Address of principal executive offices) (Zip Code) I.R.S. Employer
Identification No.
000 Xxxx Xxxxxx Xxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Telephone (000) 000-0000
(Name, address and telephone number of agent for service)
TOYOTA MOTOR CREDIT CORPORATION
(Exact name of obligor as specified in its charter)
California
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
00000 Xxxxx Xxxxxxx Xxxxxx
Xxxxxxxx, XX 00000
(Address of Principal Executive Offices) (Zip Code)
Demand Notes
(Title of the Indenture Securities)
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FORM T-1
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.
Comptroller of the Currency
Washington, D.C.
b) WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST POWERS.
Yes
ITEM 2. AFFILIATIONS WITH OBLIGOR. IF THE OBLIGOR IS AN AFFILIATE OF THE
TRUSTEE, DESCRIBE EACH SUCH AFFILIATION.
None
ITEMS 3-15 Not applicable because, to the best of Trustee's knowledge, the
obligor is not in default under any Indenture for which the
Trustee acts as Trustee.
ITEM 16. LIST OF EXHIBITS: LIST BELOW ALL EXHIBITS FILED AS A PART OF THIS
STATEMENT OF ELIGIBILITY AND QUALIFICATION.
1. A copy of the Articles of Association of the Trustee now in
effect, filed herewith.
2. A copy of the certificate of authority to Commence Business.
3. Authorization of the Trustee to exercise corporate trust powers
(included in Exhibits 1 and 2; no separate instruments)
4. A copy of the existing By-Laws of the Trustee, as now in
effect, filed herewith.
5. Not applicable.
6. The consent of the Trustee required by Section 321(b) of the act.
7. A copy of the latest report of condition of the Trustee
published pursuant to law or the requirements of its supervising
or examining authority, filed herewith.
8. Not applicable.
9. Not applicable.
2
NOTE
The answers to this statement insofar as such answers relate to what
persons have been underwriters for any securities of the obligors within
three years prior to the date of filing this statement, or what persons are
owners of 10% or more of the voting securities of the obligors, or
affiliates, are based upon information furnished to the Trustee by the
obligors. While the Trustee has no reason to doubt the accuracy of any such
information, it cannot accept any responsibility thereof.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking
association organized and existing under the laws of the United States
of America has duly caused this statement of eligibility and
qualification to be signed on its behalf by the undersigned, thereunto
duly authorized, all in the City of Chicago, State of Illinois on the
9th day of September, 1998.
U.S. BANK NATIONAL ASSOCIATION
By: /s/ XXXXXX X. XXXXXXX
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Xxxxxx X. Xxxxxxx
Vice President and Assistant Secretary
3
U.S. Bank National Association Vendor ID: D CERT: 05134
000 Xxxxxx Xxxxxx Xxxxx
Xxxxxxxxxxx, XX 00000
Transit Number: 09100002
Consolidated Report of Condition for Insured Commercial and
Rate-Chartered Savings Banks for June 30, 1998
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC -- BALANCE SHEET
DOLLAR AMOUNTS IN THOUSANDS
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ASSETS
1. Cash and balances due from depository institutions (from
Schedule RC-A): RCFD
a. Noninterest-bearing balances and currency and coin (1)____________ 0081. . 4,404,740 1.a
b. Interest-bearing balances (2)_____________________________________ 0071. . 4,633 1.b
2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A)________ 1754. . 0 2.a
b. Available-for-sale securities (from Schedule RC-B, column D)______ 1773. . 5,844,315 2.b
3. Federal funds sold and securities purchased under agreements to
resell_______________________________________________________________ 1350. . 1,011,279 3.
4. Loans and lease financing receivables:
a. Loans and leases, net of unearned income RCFD
(from Schedule RC-C)________________________ 2122. . 53,335,920 . . . . . 4.a
b. LESS: Allowance for loan and lease losses____ 3123. . 918,030 . . . . . 4.b
c. LESS: Allocated transfer risk reserve________ 3128. . 0 . . . . . 4.c
d. Loans and leases, net of unearned income,
allowance, and reserve (item 4.a minus 4.b and 4.c)_______________ 2125. . 52,417,890 4.d
5. Trading assets (from Schedule RC-D)___________________________________ 3545. . 25,204 5.
6. Premises and fixed assets (including capitalized leases)______________ 2145. . 555,027 6.
7. Other real estate owned (from Schedule RC-M)__________________________ 2150. . 16,457 7.
8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M)_________________________________________________ 2130. . 547,115 8.
9. Customers' liability to this bank on acceptances outstanding__________ 2155. . 291,382 9.
10. Intangible assets (from Schedule RC-M)________________________________ 2143. . 1,145,015 10.
11. Other assets (from Schedule RC-F)_____________________________________ 2160. . 1,104,808 11.
12. Total assets (sum of items 1 through 11)______________________________ 2170. . 67,367,865 12.
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(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
U.S. Bank National Association Vendor ID: D CERT: 05134
000 Xxxxxx Xxxxxx Xxxxx
Xxxxxxxxxxx, XX 00000
Transit Number: 09100002
SCHEDULE RC -- Continued
DOLLAR AMOUNTS IN THOUSANDS
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LIABILITIES
13. Deposits:
a. In domestic offices (sum of totals of columns A and C RCON
from Schedule RC-E, part I)________________________________________ 2200. . 48,039,977 13.a
RCON
(1) Noninterest-bearing (1)__________________ 6631. . 13,964,780 . . . . . 13.a.1
(2) Interest-bearing_________________________ 6636. . 34,075,197 . . . . . 13.a.2
RCFN
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs
(from Schedule RC-E, part II)______________________________________ 2200. . 864,267 13.b
RCFN
(1) Noninterest-bearing______________________ 6631. . 0 . . . . . 13.b.1
(2) Interest-bearing_________________________ 6636. . 864,267 . . . . . 13.b.2
RCFD
14. Federal funds purchased and securities sold under agreements to
repurchase____________________________________________________________ 2800. . 1,579,537 14.
RCON
15. a. Demand notes issued to the U.S. Treasury___________________________ 2840. . 450,419 15.a
RCFD
b. Trading liabilities (from Schedule RC-D)___________________________ 3548. . 21,646 15.b
16. Other borrowed money (includes mortgage indebtedness and
obligations under capitalized leases):
a. With a remaining maturity of one year or less______________________ 2332. . 2,905,019 16.a
b. With a remaining maturity of more than one year through
three years________________________________________________________ A547. . 2,374,999 16.b
c. With a remaining maturity of more than three years_________________ A548. . 2,110,892 16.c
17. Not applicable.
18. Bank's liability on acceptances executed and outstanding_______________ 2920. . 291,382 18.
19. Subordinated notes and debentures (2)__________________________________ 3200. . 1,727,450 19.
20. Other liabilities (from Schedule RC-G)_________________________________ 2930. . 1,029,640 20.
21. Total liabilities (sum of items 13 through 20)_________________________ 2948. . 61,395,228 21.
22. Not applicable.
EQUITY CAPITAL
RCFD
23. Perpetual preferred stock and related surplus__________________________ 3838. . 0 23.
24. Common stock___________________________________________________________ 3230. . 310,004 24.
25. Surplus (exclude all surplus related to preferred stock)_______________ 3839. . 2,572,926 25.
26. a. Undivided profits and capital reserves_____________________________ 3632. . 3,037,534 26.a
b. Net unrealized holding gains (losses) on available-for-sale
securities_________________________________________________________ 8434. . 52,173 26.b
27. Cumulative foreign currency translation adjustments____________________ 3284. . 0 27.
28. Total equity capital (sum of items 23 through 27)______________________ 3210. . 5,972,637 28.
29. Total liabilities and equity capital (sum of items 21 and 28)__________ 3300. . 67,367,865 29.
MEMORANDUM
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION.
1. Indicate in the box at the right the number of the statement below that
best describes the most comprehensive level of auditing work performed
for the bank by independent external auditors as of any date RCFD NUMBER
during 1997_____________________________________________________________ 6724. . N/A M.1
1 -- Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 -- Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified
public accounting firm which submits a report on the consolidated
holding company (but not on the bank separately)
3 -- Directors' examination of the bank conducted in accordance with
generally accepted auditing standards by a certified public accounting
firm (may be required by state chartering authority)
4 -- Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 -- Review of the bank's financial statements by external auditors
6 -- Compilation of the bank's financial statements by external auditors
7 -- Other audit procedures (excluding tax preparation work)
8 -- No external audit work
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(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Includes limited-life preferred stock and related surplus.