UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C.WASHINGTON, DC 20549
----------FORM 10-K
Current Report Annual Report Pursuant to Section 13 or(Mark One)
ý
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2004
or
¨
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 000-25762
Capital One Funding, LLC, as Depositor
on behalf of
the Securities Exchange Act of 1934 For the fiscal year ended: December 31, 2001CAPITAL ONE MASTER TRUST
CAPITAL ONE BANK (Exact(Exact name of registrant as specified in its charter)
Virginia 54-1719855 - ----------------------------- ---------------- (State or other jurisdiction of (IRS Employer incorporation) Identification No.) 11013 West Broad Street Road, Glen Allen, Virginia 23060 - -------------------------------------------------- -------------- (Address of principal executive offices) (Zip Code) (Registrant's
New York
Not applicable
(State or other jurisdiction
of incorporation or organization)(I.R.S. Employer
Identification No.)c/o Capital One Funding, LLC
140 East Shore Drive
Room 1071-B
Glen Allen, Virginia23059
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area
code):code: (804)967-1000 Page 1 of 58290-6959 Securities registered pursuant to Section 12(b) of the Act:
NoneNone.Securities
Registered pursuant to Section 12(g) of the act: Series 1996-1 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1996-1 Series 1996-2 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1996-2 Series 1996-3 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1996-3 Series 1997-1 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1997-1 Series 1997-2 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1997-2 Series 1998-1 Certificates 6.310% Class A Asset Backed Certificates, Series 1998-1 6.356% Class B Asset Backed Certificates, Series 1998-1 Series 1998-3 Certificates 5.94507% Class A Asset Backed Certificates, Series 1998-3 Floating Rate Class B Asset Backed Certificates, Series 1998-3 Series 1998-4 Certificates 5.43% Class A Asset Backed Certificates, Series 1998-4 Floating Rate Class B Asset Backed Certificates, Series 1998-4 Series 1999-1 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1999-1 Series 1999-2 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1999-2 Page 2 of 58Series 1999-3 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 1999-3 Series 2000-1 Certificates 7.1% Class A Asset Backed Certificates, Series 2000-1 7.3% Class B Asset Backed Certificates, Series 2000-1 Series 2000-2 Certificates 7.2% Class A Asset Backed Certificates, Series 2000-2 7.3% Class B Asset Backed Certificates, Series 2000-2 Series 2000-3 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 2000-3 Series 2000-4 Certificates 6.763% Class A Asset Backed Certificates, Series 2000-4 Floating Rate Class B Asset Backed Certificates, Series 2000-4 Series 2000-5 Certificates 6.6557% Class A Asset Backed Certificates, Series 2000-5 Floating Rate Class B Asset Backed Certificates, Series 2000-5 Series 2001-1 Certificates Floating Rate Class A, Class B Asset Backed Certificates, Series 2001-1 Series 2001-2 Certificates 5.57% Class A Asset Backed Certificates, Series 2001-2 Floating Rate Class B Asset Backed Certificates, Series 2001-2 Series 2001-3 Certificates 5.45% Class A Asset Backed Certificates, Series 2001-3 Floating Rate Class B Asset Backed Certificates, Series 2001-3 Series 2001-4 Certificates 5.184% Class A Asset Backed Certificates, Series 2001-4 5.184% Class B Asset Backed Certificates, Series 2001-4 Page 3 of 58Series 2001-5 Certificates 5.3% Class A Asset Backed Certificates, Series 2001-5 Floating Rate Class B Asset Backed Certificates, Series 2001-5 Series 2001-6 Certificates 5.727% Class A and Class B Asset Backed Certificates, Series 2001-6 Series 2001-7 Certificates 3.85% Class A Asset Backed Certificates, Series 2001-7 Floating Rate Class B Asset Backed Certificates, Series 2001-7 Series 2001-8 Certificates 4.6% Class A Asset Backed Certificates, Series 2001-8 Floating Rate Class B Asset Backed Certificates, Series 2001-8 Securities to beregistered pursuant to Section 12(g) of the Act:None
Class A 6.310% Asset Backed Certificates, Series 1998-1
Class B 6.356% Asset Backed Certificates, Series 1998-1
Class A Floating Rate Asset Backed Certificates, Series 2000-4
Class A Floating Rate Asset Backed Certificates, Series 2001-2
(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes
Xý* No------ ------oIndicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ý
Indicate by check mark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2). Yes ¨ No ý
State the aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.
Registrant does not have any voting
stock. Registrant has not been involved in bankruptcy proceedings during the preceding five years. Registrant is not reporting as a corporate issuer. No documents have beenor non-voting common equity.Documents incorporated by
reference intoreference: None.* On August 24, 1995, Sears Receivables Financing Group, Inc., as originator of Sears Credit Account Master Trust II, was issued a no-action letter (“No-Action Letter”) by the Securities and Exchange Commission with respect to certain of the registrant’s reporting requirements pursuant to Section 13 or 15(d) of the Act. This Form 10-K has been prepared in accordance with the terms of the No-Action Letter.
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PART I
Item 1.Business.
This Annual Report on Form 10-K (the “Report”) is filed with respect to Capital One Master Trust (the “Trust”), a trust formed pursuant to an Amended and Restated Pooling and Servicing Agreement, dated as of September 30, 1993 (the “Pooling and Servicing Agreement”), amended and restated as of August 1, 2002, among Capital One Funding, LLC, as transferor, Capital One Bank, as servicer, and The Bank of New York, as trustee (the “Trustee”). Capitalized terms not defined in this
Form 10K. THE INDEX APPEARS ON PAGE 8 Page 4 of 58Part I Item 1. Business Not Applicable.Report have the meaning assigned to them in the Pooling and Servicing Agreement.Item 2.
Properties Not Applicable.Properties.Omitted pursuant to the No-Action Letter.
Item 3.Legal
ProceedingsProceedings.The registrant knows of no material pending legal proceedings with respect to the Trust, involving the Trust, the Trustee (in its capacity as such), the
Trust AssetsTrust’s assets, Capital One Bank (in its capacity as servicer) or Capital OneBank.Funding, LLC, other than routine litigation incidental to the business of the Trust, the Trustee (in its capacity as such), Capital One Bank (in its capacity as servicer) or Capital One Funding, LLC.Item 4.Submission of Matters to a Vote of Security
Holders No matter was submitted during the fiscal year covered by this report to a vote of Certificateholders. PartHolders.None.
PART II
Item 5. �� Market for
Registrant'sRegistrant’s Common Equity and Related StockholderMattersMatters.To the best knowledge of the registrant, there is no established public trading market for the Investor Certificates.
(a) For purposesEach publicly-offered class of
this report, "Certificateholders" includes Class A Certificateholders, Class B Certificateholders, any holdersthe Trust’s Investor Certificates is delivered and held in book-entry form through the facilities ofClass C Interest and holdersThe Depository Trust Company (“DTC”), a “clearing agency” registered pursuant to the provisions ofany Collateral Indebtedness Interest. (b) Not Applicable.Section 17A of the Securities Exchange Act of 1934, as amended. Each publicly-offered class of the Trust’s Investor Certificates is represented by one or more certificates registered in the name of Cede & Co. (“Cede”), the nominee of DTC.Item 6.Selected
financial Data Not Applicable.Financial Data.Omitted pursuant to the No-Action Letter.
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Item 7.
Management'sManagement’s Discussion and Analysis of FinancialconditionCondition and Results ofOperationsOperations.Omitted pursuant to the No-Action Letter.
Item 7A.Quantitative and Qualitative Disclosures About Market Risk.
Not
Applicable.applicable.Item 8.Financial Statements and Supplementary
Data Not Applicable. Page 5 of 58Data. Omitted pursuant to the No-Action Letter.
Item 9.Changes in and Disagreements
Withwith Accountants on Accounting and FinancialDisclosureDisclosure.None.
PartItem 9A.Controls and Procedures.
Not applicable.
PART III
Item 10.Directors and Executive Officers of the
Registrant Not Applicable.Registrant.Omitted pursuant to the No-Action Letter.
Item 11.Executive
Compensation Not Applicable.Compensation.Omitted pursuant to the No-Action Letter.
Item 12.Security Ownership of Certain Beneficial Owners and Management
(a) Not Applicable. (b) Not Applicable. (c) Not Applicable.and Related Stockholder Matters.Each publicly-offered class of Investor Certificates is represented by one or more certificates registered in the name of Cede, the nominee of DTC, and an investor holding an interest in such class of Investor Certificates is not entitled to receive a certificate representing such interest except in limited circumstances set forth in the Pooling and Servicing Agreement. Accordingly, Cede is the sole holder of record of such Investor Certificates, which it holds on behalf of brokers, dealers, banks, and other direct participants in the DTC system. Such direct participants may hold the investor certificates for their own accounts or for the accounts of their customers. The name and address of Cede is Cede & Co., c/o The Depository Trust Company, 55 Water Street, New York, NY 10041.
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Capital One Funding, LLC owns 100% of the Transferor Certificate, which represents beneficial ownership of a residual interest in the assets of the Trust as provided in the Pooling and Servicing Agreement.
Item 13.Certain Relationships and Related
Transactions (a)Transactions.The registrant knows of no transaction or series of transactions during
2001the most recently completed fiscal year, or any currently proposed transaction or series of transactions, in an amount exceeding $60,000, involving the Trust in which any Investor Certificateholder identified initem 12(a)Item 12 above or any other beneficial owner of more than five percent of Investor Certificates known to the registrant had or will have a direct or indirect material interest.There are no persons of the types described in Item 404(a)(1), (2) and (4). (b) Not applicable (c) Not Applicable Part IVItem 14.Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.Exhibits, Financial Statement Schedules, and Reports
On Form 8-K Reportson Form 8-K.The following Current Reports on Form: 8-K were filed by the registrant relating to 2001: Current Reports on Form 8-K dated: January 16, 2001; February 15, 2001; March 15, 2001; April 15, 2001; May 15, 2001; June 12, 2001; July 11, 2001; August 10, 2001; September, 13, 2001; October 18, 2001; November 9, 2001; December 11, 2001. Page
(a)
(1)
Omitted pursuant to the No-Action Letter.
(2)
Omitted pursuant to the No-Action Letter.
(3)
The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.
(b)
Reports on Form 8-K.
The following Current Reports on Form 8-K were filed by the registrant during, or otherwise relating to, 2004:
Date
Items Reported
January 6, 2004
Items 5 and 7
January 12, 2004
Items 5 and 7
January 29, 2004
Items 5 and 7
February 10, 2004
Items 5 and 7
February 11, 2004
Items 5 and 7
March 3, 2004
Items 5 and 7
March 10, 2004
Items 5 and 7
March 11, 2004
Items 5 and 7
March 17, 2004
Items 5 and 7
April 12, 2004
Items 5 and 7
April 13, 2004
Items 5 and 7
April 20, 2004
Items 5 and 7
May 12, 2004
Items 5 and 7
May 12, 2004
Items 5 and 7
June 10, 2004
Items 5 and 7
June 15, 2004
Items 5 and 7
June 15, 2004
Items 5 and 7
5
July 12, 2004
Items 5 and 7
July 20, 2004
Items 5 and 7
July 22, 2004
Items 5 and 7
August 11, 2004
Items 5 and 7
September 7, 2004
Items 8.01 and 9.01
September 10, 2004
Items 8.01 and 9.01
September 13, 2004
Items 8.01 and 9.01
October 12, 2004
Items 8.01 and 9.01
October 14, 2004
Items 8.01 and 9.01
November 9, 2004
Items 8.01 and 9.01
November 22, 2004
Items 8.01 and 9.01
November 29, 2004
Items 8.01 and 9.01
December 1, 2004
Item 8.01
December 10, 2004
Items 8.01 and 9.01
January 12, 2005
Items 8.01 and 9.01
(c)
See subparagraph (a)(3) above.
(d)
Omitted pursuant to the No-Action Letter.
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of 58SIGNATURES
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.
Capital One Master Trust (Registrant) By: Capital One Bank (Seller and Servicer) By: /s/ David M. Willey ----------------------------- David M. Willey Senior Vice President and CFO Page
Capital One Master Trust
(Registrant)
By:
Capital One Funding, LLC
(Depositor)
By:
/s/ Steve Linehan
Stephen Linehan
President
Date: March 31, 2005
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of 58EXHIBIT INDEX
Exhibit No.
EXHIBIT INDEX PAGE NOS.ExhibitCertification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and relevant rules and regulations of the Securities and Exchange Commission.
99.0
Capital One Master Trust Aggregated Data for
2001. 10 Exhibit2004.99.1
2004 Annual
Certificateholders' Statement required to be 11Certificateholders’ Statements prepared by the Servicer.(a)
Series 1998-1
(b)
Series 1999-3
(c)
Series 2000-2
(d)
Series 2000-3
(e)
Series 2000-4
(f)
Series 2001-1
(g)
Series 2001-2
(h)
Series 2001-3
(i)
Series 2001-5
(j)
Series 2001-6
(k)
Series 2001-8
(l)
Series 2002-1
(m)
Series 2002-2
(n)
Series 2002-3
(o)
Series 2002-4
99.2
Report of Independent Registered Public Accounting Firm pursuant to
Series 1996-1 Supplement. Exhibit 99.2Section 3.06 of the Pooling and Servicing Agreement.99.3
Report of Management on Compliance.
99.4
Annual
Certificateholders'Statementrequired to be 13 prepared pursuant to Series 1996-2 Supplement. Exhibit 99.3 Annual Certificateholders' Statement required to be 15 prepared pursuant to Series 1996-3 Supplement. Exhibit 99.4 Annual Certificateholders' Statement required to be 17 prepared pursuant to Series 1997-1 Supplement. Exhibit 99.5 Annual Certificateholders' Statement required to be 19 prepared pursuant to Series 1997-2 Supplement. Exhibit 99.6 Annual Certificateholders' Statement required to be 21 prepared pursuant to Series 1998-1 Supplement. Exhibit 99.7 Annual Certificateholders' Statement required to be 23 prepared pursuant to Series 1998-3 Supplement. Exhibit 99.8 Annual Certificateholders' Statement required to be 25 prepared pursuant to Series 1998-4 Supplement. Exhibit 99.9 Annual Certificateholders' Statement required to be 27 prepared pursuant to Series 1999-1 Supplement. Exhibit 99.10 Annual Certificateholders' Statement required to be 29 prepared pursuant to Series 1999-2 Supplement. Exhibit 99.11 Annual Certificateholders' Statement required to be 31 prepared pursuant to Series 1999-3 Supplement.of Compliance from the Servicer.Page8
of 58
Exhibit 99.12 Annual Certificateholders' Statement required to be 33 prepared pursuant to Series 2000-1 Supplement. Exhibit 99.13 Annual Certificateholders' Statement required to be 35 prepared pursuant to Series 2000-2 Supplement. Exhibit 99.14 Annual Certificateholders' Statement required to be 37 prepared pursuant to Series 2000-3 Supplement. Exhibit 99.15 Annual Certificateholders' Statement required to be 39 prepared pursuant to Series 2000-4 Supplement. Exhibit 99.16 Annual Certificateholders' Statement required to be 41 prepared pursuant to Series 2000-5 Supplement. Exhibit 99.17 Annual Certificateholders' Statement required to be 43 prepared pursuant to Series 2001-1 Supplement. Exhibit 99.18 Annual Certificateholders' Statement required to be 45 prepared pursuant to Series 2001-2 Supplement. Exhibit 99.19 Annual Certificateholders' Statement required to be 47 prepared pursuant to Series 2001-3 Supplement. Exhibit 99.20 Annual Certificateholders' Statement required to be 49 prepared pursuant to Series 2001-4 Supplement. Exhibit 99.21 Annual Certificateholders' Statement required to be 51 prepared pursuant to Series 2001-5 Supplement. Exhibit 99.22 Annual Certificateholders' Statement required to be 53 prepared pursuant to Series 2001-6 Supplement. Exhibit 99.23 Annual Certificateholders' Statement required to be 55 prepared pursuant to Series 2001-7 Supplement. Exhibit 99.24 Annual Certificateholders' Supplement required to be 57 prepared pursuant to Series 2001-8 Supplement.Page 9 of 58