TARGET CORP
305B2, EX-7, 2000-08-04
VARIETY STORES
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        EXHIBIT 7

Legal Title of Bank:   Bank One Trust Company, N.A.   Call Date: 03/31/00   State #: 391581 FFIEC 032
Address:   100 Broad Street   Vendor ID: D   Cert #: 21377 Page RC-1
City, State Zip:   Columbus, OH 43271   Transit #: 04400003      

Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for March 31, 2000

All schedules are to be reported in thousands of dollars. Unless otherwise indicated, report the amount
outstanding of the last business day of the quarter.

Schedule RC—Balance Sheet

 
    
   Dollar Amounts
in thousands
    
 
    
   RCON
   BIL MIL THOU
   C300
ASSETS            
1.   Cash and balances due from depository institutions (from Schedule RC-A):   RCON        
    a. Noninterest-bearing balances and currency and coin(1)   0081   48,450   1.a
    b. Interest-bearing balances(2)   0071   17,750   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   5,714   2.b
3.   Federal funds sold and securities purchased under agreements to resell   1350   396,644   3.
4.   Loans and lease financing receivables:   RCON        
    a. Loans and leases, net of unearned income (from Schedule RC-C)   2122   87,817   4.a
    b. LESS: Allowance for loan and lease losses   3123   10   4.b
    c. LESS: Allocated transfer risk reserve   3128   0   4.c
    d. Loans and leases, net of unearned income, allowance, and   RCON        
    reserve (item 4.a minus 4.b and 4.c)   2125   87,807   4.d
5.   Trading assets (from Schedule RD-D)   3545   0   5.
6.   Premises and fixed assets (including capitalized leases)   2145   25,200   6.
7.   Other real estate owned (from Schedule RC-M)   2150   0   7.
8.   Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M)   2130   0   8.
9.   Customers' liability to this bank on acceptances outstanding   2155   0   9.
10.   Intangible assets (from Schedule RC-M)   2143   26,345   10.
11.   Other assets (from Schedule RC-F)   2160   176,297   11.
12.   Total assets (sum of items 1 through 11)   2170   784,207   12.
(1)
Includes cash items in process of collection and unposted debits.
(2)
Includes time certificates of deposit not held for trading.
Legal Title of Bank:   Bank One Trust Company, N.A.   Call Date: 03/31/00   State #: 391581 FFIEC 032
Address:   100 East Broad Street   Vendor ID: D   Cert #: 21377 Page RC-2
City, State Zip:   Columbus, OH 43271   Transit #: 04400003      

Schedule RC-Continued

                Dollar Amounts in Thousands
    
LIABILITIES            
13.   Deposits:            
    a.   In domestic offices (sum of totals of columns A and C from Schedule RC-E, part 1)   RCON
2200		   567,764   13.a
        (1 ) Noninterest-bearing(1)   6631   506,455   13.a1
        (2 ) Interest-bearing   6636   61,309   13.a2
    b.   In foreign offices, Edge and Agreement subsidiaries, and IBFs (from Schedule RC-E, part II)            
        (1 ) Noninterest bearing            
        (2 ) Interest-bearing            
14.   Federal funds purchased and securities sold under
 agreements to repurchase:		   RCFD 2800   0   14
15.   a.   Demand notes issued to the U.S. Treasury   RCON 2840   0   15.a
    b.   Trading Liabilities(from Sechedule RC-D)   RCFD 3548   0   15.b
16.   Other borrowed money:   RCON        
    a.   With original maturity of one year or less   2332   0   16.a
    b.   With original maturity of more than one year   A547   0   16.b
    c.   With original maturity of more than three years   A548   0   16.c
17.   Not applicable            
18.   Bank's liability on acceptance executed and outstanding   2920   0   18.
19.   Subordinated notes and debentures   3200   0   19.
20.   Other liabilities (from Schedule RC-G)   2930   83,885   20.
21.   Total liabilities (sum of items 13 through 20)   2948   651,649   21.
22.   Not applicable            
EQUITY CAPITAL            
23.   Perpetual preferred stock and related surplus   3838   0   23.
24.   Common stock   3230   800   24.
25.   Surplus (exclude all surplus related to preferred stock)   3839   45,157   25.
26.   a.   Undivided profits and capital reserves   3632   86,585   26.a
    b.   Net unrealized holding gains (losses) on available-for-sale securities   8434   16   26.b
    c.   Accumulated net gains (losses) on cash flow hedges   4336   0   26.c
27.   Cumulative foreign currency translation adjustments            
28.   Total equity capital (sum of items 23 through 27)   3210   132,558   28.
29.   Total liabilities, limited-life preferred stock, and equity capital (sum of items 21, 22, and 28)   3300   784,207   29.
 
Memorandum		  
 		  
 		  
 		  
 		  
 		  
 
To be reported only with the March Report of Condition.   N/A        
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 during 1996   RCFD 6724   Number   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
(1)
Includes total demand deposits and noninterest-bearing time and savings deposits.



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