Attached files
| file | filename |
|---|---|
| 10-K - MS STRUCTURED ASSET CORP CBT SERIES 2003-1 | saturns10k2003-1.htm |
| EX-23 - MS STRUCTURED ASSET CORP CBT SERIES 2003-1 | saturns10k2003-1ex23.htm |
| EX-99.1 - MS STRUCTURED ASSET CORP CBT SERIES 2003-1 | saturns10k2003-1ex991.htm |
| EX-31.1 - MS STRUCTURED ASSET CORP CBT SERIES 2003-1 | saturns10k2003-1ex311.htm |
Exhibit 31.2
COMPLIANCE STATEMENT
In connection with the preparation and delivery of the annual report on Form 10-K of MS Structured Asset Corp. on behalf of SATURNS CBT Series Units Trust 2003-1 for the fiscal year ending December 31, 2010, and the certifications given by In-Young Chase with respect thereto, the undersigned hereby certifies that he is a duly elected Senior Vice President of Bank of America, National Association as successor by merger to LaSalle Bank National Association (the “Trustee”) and further certifies in his capacity as such as follows:
1. I have reviewed all reports on Form 8-K containing distribution reports filed in respect of periods included in the year covered by this annual report, of MS Structured Asset Corp. on behalf of SATURNS CBT Series Units Trust 2003-1;
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report, except for any material misstatements or omissions that may be disclosed in Exhibit B;
3. Based on my knowledge, except as disclosed in Exhibit B, the distribution information required to be provided to the depositor by the Trustee under the applicable trust agreement for inclusion in these reports is included in these reports;
4. I am familiar with the operations of Bank of America, National Association, as successor by merger to LaSalle Bank National Association with respect to the SATURNS program and SATURNS CBT Series Units Trust 2003-1 and the requirement imposed by the applicable trust agreement, and except as disclosed in the distribution reports and as disclosed in Exhibit B, the Trustee has fulfilled its obligations under the applicable trust agreement; and
5. Based on my knowledge, and except as disclosed in the distribution reports referenced on Exhibit A to this compliance certificate, there are no material legal proceedings with respect to any trust, involving the trust or Bank of America, National Association as successor by merger to LaSalle Bank National Association as trustee.
| By: /s/ Thomas M. O'Connor | ||
| Name: Thomas M. O'Connor | ||
| Title: Senior Vice President | ||
|
Date: March 29, 2011
|
EXHIBIT A
|
SATURNS
Trust No.:
|
Closing Date
|
Payment Dates
|
Form 8-K Filing Dates (Not Trust Agreement Filings in connection with Closing Date)
For FY 2010
|
|
CBT 2003-1
|
9/25/03
|
January 25, 2010, February 25, 2010, March 25, 2010, April 26, 2010, May 25, 2010, June 25, 2010, July 26, 2010, August 25, 2010, September 27, 2010, October 25, 2010, November 26, 2010 and December 28, 2010
|
January 29, 2010, March 3, 2010, March 30, 2010, April 28, 2010, May 26, 2010, June 28, 2010, July 27, 2010, August 26, 2010, September 29, 2010, October 28, 2010, November 29, 2010, December 30, 2010
|
|
SATURNS
Trust No.:
|
Closing Date
|
Event Description
|
Form 8-K Filing Dates (Not Trust Agreement Filings in connection with Closing Date or filings related to Payment Dates)
For FY 2010
|
|
CBT 2003-1
|
9/25/03
|
Not Applicable
|
None this fiscal year
|
EXHIBIT B
With respect to the distribution reports that were filed on (o) January 29, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $163,250.00; (p) March 3, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $126,750.00; (q) March 30, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $114,125.00; (r) April 28, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $77,500.00; (s) May 26, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $78,000.00; (t) June 28, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $83,750.00; (u) July 27, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $163,250.00; (v) August 26, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $126,750.00; (w) September 29, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $114,125.00; (x) October 28, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $77,500.00; (y) November 29, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $78,000.00; (z) December 30, 2010, (i) Swap Recipient was unreported and should have been reported as Morgan Stanley Capital Services Inc. as a Swap Recipient and (ii) Swap Amount Received for Morgan Stanley Capital Services Inc. was unreported and should have been reported as $83,750.00. These errors are expected to be corrected on or before August 31, 2011 and a revised remittance report is expected to be sent on or before August 31, 2011.
Capitalized terms used but not defined in this Exhibit B have the meanings set forth in the Standard Terms for Trust Agreement dated September 25, 2003.