Item 1 Business
Not Applicable
Item 2
Item 2 Properties
See the Annual Report filed pursuant to Item 15 Below.
Item 3
Item 3 Legal Proceedings
None
Item 4
Item 4 Submission Of Matters To A Vote Of Security Holders
None
Part II
Item 5
Item 5 Market For Registrant's Common Equity And Related Stockholder Matters
Each of the Certificates, representing investors' interests in the Trust, are represented by a single certificate registered in the name of Cede & Co., the nominee of The Depository Trust Company (DTC). Accordingly, Cede & Co. is the sole holder of record of the Certificates, which it held on behalf of approximately 14 brokers, dealers, banks and other direct participants in the DTC system at December 31, 2004.
To the best knowledge of the Registrant, there is no established public trading market for the Certificates.
Item 6
Item 6 Selected Financial Data
Not Applicable
Item 7
Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations
Not Applicable
Item 7A
Item 7A Quantitative and Qualitative Disclosures About Market Risk
Not Applicable
Item 8
Item 8 Financial Statements and Supplementary Data
Not Applicable
Item 9
Item 9 Changes In And Disagreements With Accountants On Accounting and Financial Disclosure
None
Item 9A
Item 9A Controls and Procedures
Not Applicable
Part III
Item 10
Item 10 Directors and Executive Officers of the Registrant
Not Applicable
Item 11
Item 11 Executive Compensation
Not Applicable
Item 12
Item 12 Security Ownership Of Certain Beneficial Owners and Management
Each of the Certificates, representing investor's interests in the Trust, are represented by a single certificate registered in the name of Cede & Co., the nominee of the Depository Trust Company, and an investor holding an interest in the Trust is not entitled to receive a Certificate representing such interest except in certain limited circumstances. Accordingly, Cede & Co. is the sole holder of record of the Certificates, which it held on behalf of approximately 14 brokers, dealers, banks and other direct participants in the DTC system at December 31, 2004. Such direct participants may hold Certificates for their own accounts or for the accounts of their customers. The following table sets forth, with respect to each of the Certificates, the identity of each direct DTC participant that holds positions in such Certificate in excess of 5% of the outstanding principal amount thereof at December 31, 2004.
$ 401,529,000.00 Auto Receivables Backed Certificates
Aggregate Amount of Percent of Name Certificates Held O/S Class Wells Bank, N.A. 5,432,000 6.43% SSB Bank Portfolio 9,315,000 11.02% Union Bankof California, N.A. 10,000,000 11.83% Mellon Trust 14,880,000 17.67% JP Morgan Prudential 39,553,000 46.98%
Mellon Trust 12,029,000 100.00%
The address of each of the above participants is:
The Depository Trust Company Issuer Services c/o ADP Proxy Services 51 Mercedes Way Edgewood, NY 11717
Item 13
Item 13 Certain Relationships and Related Transactions
None
Item 14
Item 14 Principal Accountant Fees and Services
Not Applicable
Part IV
Item 15
Item 15 Exhibits, Financial Statement Schedules and Reports On Form 10-K
(a) The following documents are filed as part of this Report:
i) Summary of annual distributions on the Certificates to Certificateholders for the year ended December 31, 2004
ii) Annual Accountant's Report dated December 1, 2004 and related Report of Management dated December 1, 2004 relating to sufficiency of accounting controls.
(c) 31.1 Rule 13a-14(a) / 15d-14(a) Certification
No proxy soliciting material has been distributed by the Trust.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Chevy Chase Auto Receivables Trust 2001-1 By: Chevy Chase Bank, F.S.B. Originator of the Trust and Servicer
Date: 03/30/2005 By: /S/ Joel A. Friedman ----------------------------------- Joel A. Friedman Senior Vice President and Controller