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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): OCTOBER 2, 1998
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BANC ONE AUTO GRANTOR TRUST 1997-A
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(Issuer with respect to the Certificates)
BANK ONE, TEXAS, N.A.
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(Exact name of registrant as specified in its charter)
UNITED STATES
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(State or other jurisdiction of incorporation or organization)
333-25951 75-2270994
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(Commission File Number) (IRS Employer Identification Number)
150 EAST CAMPUS VIEW, COLUMBUS, OHIO 43235
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(Address of principal executive offices) (Zip Code)
(614) 248-3718
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Registrant's telephone number, including area code
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On October 2, 1998, the parent corporation for Bank One, Texas, N.A.
(the "Bank"), Banc One Corporation ("BANC ONE") was merged (the "Merger") with
First Chicago NBD Corporation ("FCNBD") and the surviving entity is BANK ONE
COPORATION ("BANK ONE"). In connection with such merger, the Bank in its
capacity as servicer of the Banc One Auto Grantor Trust 1997-A (the "Trust"),
changed the independent accountants for the Trust from Coopers & Lybrand L.L.P.,
now PricewaterhouseCoopers LLP ("PwC") to Arthur Anderson LLP ("AA"),
historically engaged by FCNBD. BANK ONE has selected AA as the certifying
accountants for the merged entity. The sole reason for the change of the
independent accountants for the Trust was to align the independent accountants
of the Trust with those of BANK ONE.
The Trust does not have financial statements and the reports of
independent accountants for the Trust are limited to (i) examining the assertion
of the Servicer that it has maintained effective internal control over the
servicing of accounts under the Master Pooling and Servicing Agreement for the
Trust, in accordance with standards established by the American Institute of
Certified Public Accountants. Therefore, the standards enumerated in Item 304 of
Regulation S-K under the Securities and Exchange Act of 1934 ("Item 304"), which
apply to audits of financial statements, are not applicable to the services
performed for the Trust by independent accountants. Nonetheless, the reports of
PwC with respect to the Trust for the year ended December 31, 1997 prior to
their replacement did not state that (x) the assertion of the servicer in clause
(i) above was not fairly stated, in all material respects, and there were no
disagreements (as defined in the instructions to Item 304 of Regulation S-K)
between PwC and the Bank, in its capacity as servicer to the Trust, in
connection with such reports. The decision to change accountants was made in
order to align the independent accountants of the Trust with those of BANK ONE.
In the two years prior to AA's appointment, the Bank, in its capacity
as servicer of the Trust, did not consult AA in any matter with respect to the
Trust.
A letter from PwC stating their agreement with the statements made
herein is filed as Exhibit 16.01 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
The following exhibit is filed as part of this report:
(16.01) Letter regarding Change in Certifying Accountant
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC ONE AUTO GRANTOR TRUST 1997-A
By: Bank One, Texas, N.A., as Servicer
on behalf of the Trust
By: /s/ Tracie H. Klein
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Name: Tracie H. Klein
Title: Vice President
Date: October 9, 1998
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description Page No.
<C> <S> <C>
16.01 Letter regarding Change in Certifying Accountant 5
</TABLE>
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[PricewaterhouseCoopers LLP]
October 9, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Bank One, Texas, N.A. in its capacity as
servicer of the Banc One Auto Grantor Trust 1997-A (copy attached), which we
understand will be filed with the Commission, pursuant to Item 4 of the Form
8-K, as part of the Company's Form 8-K report for the month of October 1998. We
agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On October 2, 1998, the parent corporation for Bank One, Texas, N.A.
(the "Bank"), Banc One Corporation ("BANC ONE") was merged (the "Merger") with
First Chicago NBD Corporation ("FCNBD") and the surviving entity is BANK ONE
COPORATION ("BANK ONE"). In connection with such merger, the Bank in its
capacity as servicer of the Banc One Auto Grantor Trust 1997-A (the "Trust"),
changed the independent accountants for the Trust from Coopers & Lybrand L.L.P.,
now PricewaterhouseCoopers LLP ("PwC") to Arthur Anderson LLP ("AA"),
historically engaged by FCNBD. BANK ONE has selected AA as the certifying
accountants for the merged entity. The sole reason for the change of the
independent accountants for the Trust was to align the independent accountants
of the Trust with those of BANK ONE.
The Trust does not have financial statements and the reports of
independent accountants for the Trust are limited to (i) examining the assertion
of the Servicer that it has maintained effective internal control over the
servicing of accounts under the Master Pooling and Servicing Agreement for the
Trust, in accordance with standards established by the American Institute of
Certified Public Accountants. Therefore, the standards enumerated in Item 304 of
Regulation S-K under the Securities and Exchange Act of 1934 ("Item 304"), which
apply to audits of financial statements, are not applicable to the services
performed for the Trust by independent accountants. Nonetheless, the reports of
PwC with respect to the Trust for the year ended December 31, 1997 prior to
their replacement did not state that (x) the assertion of the servicer in clause
(i) above was not fairly stated, in all material respects, and there were no
disagreements (as defined in the instructions to Item 304 of Regulation S-K)
between PwC and the Bank, in its capacity as servicer to the Trust, in
connection with such reports. The decision to change accountants was made in
order to align the independent accountants of the Trust with those of BANK ONE.
In the two years prior to AA's appointment, the Bank, in its capacity
as servicer of the Trust, did not consult AA in any matter with respect to the
Trust.
A letter from PwC stating their agreement with the statements made
herein is filed as Exhibit 16.01 to this Form 8-K.
