Attached files
file | filename |
---|---|
10-K - FORM 10-K - FIRST NATIONAL FUNDING LLC | c57265e10vk.htm |
EX-35.2 - EX-35.2 - FIRST NATIONAL FUNDING LLC | c57265exv35w2.htm |
EX-33.3 - EX-33.3 - FIRST NATIONAL FUNDING LLC | c57265exv33w3.htm |
EX-23.1 - EX-23.1 - FIRST NATIONAL FUNDING LLC | c57265exv23w1.htm |
EX-34.1 - EX-34.1 - FIRST NATIONAL FUNDING LLC | c57265exv34w1.htm |
EX-33.1 - EX-33.1 - FIRST NATIONAL FUNDING LLC | c57265exv33w1.htm |
EX-31.1 - EX-31.1 - FIRST NATIONAL FUNDING LLC | c57265exv31w1.htm |
EX-35.1 - EX-35.1 - FIRST NATIONAL FUNDING LLC | c57265exv35w1.htm |
EX-34.3 - EX-34.3 - FIRST NATIONAL FUNDING LLC | c57265exv34w3.htm |
EX-33.2 - EX-33.2 - FIRST NATIONAL FUNDING LLC | c57265exv33w2.htm |
EXHIBIT 34.2
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Shareholder
First National Credit Card Center, Inc.
First National Credit Card Center, Inc.
We have examined managements assertion, included in the accompanying Managements Report on
Assessment of Compliance with Servicing Criteria Pursuant to Item 1122 of Regulation AB, that First
National Credit Card Center, Inc. (FNCCC), which is a wholly owned subsidiary of First National
Bank of Omaha (FNBO), complied with the servicing criteria set forth in Item 1122(d) of the
Securities and Exchange Commissions Regulation AB for asset-backed securities transactions
involving credit card receivables conducted by First National Master Note Trust (the Platform) as
of and for the year ended December 31, 2009, excluding criteria 1122(d)(1)(iii), 1122(d)(2)(iii),
1122(d)(2)(vi), 1122(d)(3)(iii), 1122(d)(3)(iv) and 1122(d)(4)(x), which management has determined
are not applicable to the activities performed by FNCCC with respect to the Platform. Management
is responsible for FNCCCs compliance with the servicing criteria. Our responsibility is to express
an opinion on managements assertion about FNCCCs compliance with the servicing criteria based on
our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants, as adopted by the Public Company Accounting Oversight
Board (United States), and, accordingly, included examining, on a test basis, evidence about the
FNCCCs compliance with the applicable servicing criteria, including tests on a sample basis of the
servicing activities related to the Platform, determining whether FNCCC performed those selected
activities in compliance with the servicing criteria during the specified period, and performing
such other procedures as we considered necessary in the circumstances. Our procedures were limited
to selected servicing activities performed by FNCCC during the period covered by this report and,
accordingly, such samples may not have included servicing activities related to each asset-backed
transaction included in the Platform. Further, an examination is not designed to detect
noncompliance arising from errors that may have occurred prior to the period specified above that
may have affected the balances or amounts calculated or reported by FNCCC during the period covered
by this report. We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on FNCCCs compliance with the servicing
criteria.
In our opinion, managements assertion that FNCCC complied with the aforementioned applicable
servicing criteria as of and for the year ended December 31, 2009 for the Platform is fairly
stated, in all material respects.
/s/ Deloitte & Touche LLP
Omaha, Nebraska
March 25, 2010
March 25, 2010