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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)
41-0417860
I.R.S. Employer Identification No.
111 EAST WACKER DRIVE, SUITE 3000
CHICAGO, ILLINOIS 60601
(Address of principal executive offices) (Zip Code)
Melissa A. Rosal
U.S. Bank National Association
111 East Wacker Drive, Suite 3000
Chicago, Illinois 60601
Telephone (312) 228-9416
(Name, address and telephone number of agent for service)
TOYOTA AUTO RECEIVABLES TRUSTS
(Issuer with respect to the Securities)
TOYOTA MOTOR CREDIT RECEIVABLES CORPORATION
(Exact name of Registrant as specified in its charter)
CALIFORNIA 33-0593804
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
19001 SOUTH WESTERN AVENUE
TORRANCE,CA 90509
(Address of Principal Executive Offices) (Zip Code)
ASSET BACKED SECURITIES
(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 The Trustee is a Trustee under other Indentures under which
securities issued by the obligor are outstanding. There is not and
there has not been a default with respect to the securities
outstanding under other such Indentures.
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, incorporated herein by reference to Exhibit 1of Form
T-1, Registration No. 333-30939.*
2. A copy of the certificate of authority of the Trustee to
commence business, incorporated herein by reference to
Exhibit 2 of Form T-1, Registration No. 333-30939.*
3. A copy of the certificate of authority of the Trustee to
exercise corporate trust powers, incorporated herein by
reference to Exhibit 3 of Form T-1,
Registration No. 333-30939.*
4. A copy of the existing bylaws of the Trustee, as now in
effect, incorporated herein by reference to Exhibit 4 of
Form T-1, Registration No. 333-30939.*
5. Not applicable.
6. The consent of the Trustee required by Section 321(b) of the
Trust Indenture Act of 1939, incorporated herein by reference
to Exhibit 6 of Form T-1, Registration No. 333-30939.*.
7. Report of Condition of the Trustee as of March 31, 2000,
published pursuant to law or the requirements of its
supervising or examining authority.
8. Not applicable.
9. Not applicable.
* Exhibits thus designated are incorporated herein by reference to
Exhibits bearing identical numbers in Item 16 of the Form T-1 filed by the
Trustee with the Securities and Exchange Commission with the specific
references noted.
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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
28th day of July, 2000.
U.S. BANK NATIONAL ASSOCIATION
By: /S/ MELISSA A. ROSAL
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Melissa A. Rosal
Vice President
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EXHIBIT 7
U.S. BANK NATIONAL ASSOCIATION
STATEMENT OF FINANCIAL CONDITION
AS OF 03/31/2000
($000'S)
03/31/2000
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ASSETS
Cash and Due From Depository Institutions $3,496,759
Federal Reserve Stock 4,689,170
Fed Funds Sold 566,748
Loans and Lease Financing Receivables 61,517,475
Trading Assets 62,590
Fixed Asset 522,474
Other Real Estate Owned 23,318
Investments in unconsolidated subsidiaries 609,865
Customers liability on acceptances 125,298
Intangible Assets 2,544,072
Other Assets 1,800,113
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TOTAL ASSETS $75,957,882
LIABILITIES
Deposits in domestic offices 50,089,064
Deposits in foreign offices 759,928
Fed Funds purchased 2,361,699
Demand Notes/Trading Liabilities 168,163
Other Borrowed Money 10,861,453
Bank's liability on acceptances executed 125,298
Subordinated Notes and debentures 2,442,450
Other Liabilities 1,289,157
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TOTAL LIABILITIES $68,097,212
EQUITY
Common and Preferred Stock 310,004
Surplus 4,203,326
Undivided Profits 3,405,801
Net unrealized holding gains on available for sale sec. (58,461)
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TOTAL EQUITY CAPITAL $7,860,670
TOTAL LIABILITIES AND EQUITY CAPITAL $75,957,882
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To the best of the undersigned's determination, as of this date the above
financial information is true and correct.
U.S. Bank National Association
By: /S/ MELISSA A. ROSAL
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Vice President
Date: July 28, 2000
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