Item 1: Business
Item 1A:
Item 1A: Risk Factors
Item 2: Properties
Item 3: Legal Proceedings
Item 4: Mine Safety Disclosures
Item 1B:
Item 1B: Unresolved Staff Comments
Not applicable.
SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM 10-K:
Item 1112(b) of Regulation AB: Significant Obligors of Pool Assets (Financial information).
Not applicable.
Item 1114(b)(2) of Regulation AB: Credit Enhancement and Other Support, Except for Certain Derivatives Instruments (Financial information).
Not applicable.
Item 1115(b) of Regulation AB: Certain Derivatives Instruments (Financial information).
Not applicable.
Item 1117 of Regulation AB: Legal proceedings.
Nothing to report.
PART II
THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM 10-K:
Item 5:
Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 6:
Item 6: Selected Financial Data
Item 7:
Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 7A:
Item 7A: Quantitative and Qualitative Disclosures about Market Risk
Item 8:
Item 8: Financial Statements and Supplementary Data
Item 9:
Item 9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9A:
Item 9A: Controls and Procedures
Item 9B.
Item 9B. Other Information.
None.
PART III
THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM 10-K:
Item 10:
Item 10: Directors, Executive Officers and Corporate Governance
Item 11:
Item 11: Executive Compensation
Item 12:
Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 13:
Item 13: Certain Relationships and Related Transactions, and Director Independence
Item 14:
Item 14: Principal Accountant Fees and Services
SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM 10-K:
Item 1119 of Regulation AB: Affiliations and Certain Relationships and Related Transactions.
The information required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.
Item 1122 of Regulation AB: Compliance with Applicable Servicing Criteria.
Each of Bank of America, National Association (“Bank of America”) and U.S. Bank National Association (“U.S. Bank”) (each, a “Servicing Participant”) has been identified by the registrant as a party participating in the servicing function with respect to the pool assets held by the Issuing Entity. Each of the Servicing Participants has completed
a report on an assessment of compliance with the servicing criteria applicable to it (each, a “Servicing Report”), which Servicing Report, in the case of Bank of America, is attached as Exhibit 33.1 to this Form 10-K and, in the case of U.S. Bank, is attached as Exhibit 33.2 to this Form 10-K. In addition, each Servicing Participant has provided an attestation report (each, an “Attestation Report”) by one or more registered public accounting firms, which Attestation Report, in the case of Bank of America, is attached as Exhibit 34.1 to this Form 10-K and, in the case of U.S. Bank, is attached as Exhibit 34.2 to this Form 10-K. Neither the Servicing Report nor the Attestation Report for U.S. Bank have identified any material instances of noncompliance with the servicing criteria described in such Servicing Report as being applicable to U.S. Bank.
The Servicing Report and the Attestation Report for Bank of America has identified a material instance of noncompliance with servicing criterion 1122(d)(4)(vi) described in such Servicing Report as being applicable to Bank of America. With respect to servicing criterion 1122(d)(4)(vi), certain extensions of the payment due dates of obligors’ pool assets were not made, reviewed and approved in accordance with Bank of America’s policies and procedures as required by the transaction agreements.
Item 1123 of Regulation AB: Servicer Compliance Statement.
Bank of America has completed a statement of compliance with applicable servicing criteria (a “Compliance Statement”) signed by an authorized officer and such Compliance Statement is attached as Exhibit 35.1 to this Form 10-K.
PART IV
Item 15.
Item 15. Exhibits And Financial Statement Schedules.
(a) (1) Not Applicable.
(2) Not Applicable.
(3) The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.
(b) The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.
(c) None.
Supplemental Information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant to Section 12 of the Act.
No annual report or proxy materials have been sent to security holders and no such report or proxy materials are to be furnished to security holders subsequent to the filing of this Annual Report on Form 10-K.
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.
Date: March 23, 2012
BANK OF AMERICA AUTO RECEIVABLES SECURITIZATION, LLC, as Depositor
By:
/s/ Scott W. McCarthy
Name: Scott W. McCarthy
Title: President
(senior officer in charge of securitization)
EXHIBIT INDEX
* Incorporated by reference.