Exhibit 33.2
Management’s Assertion on
Compliance with Regulation AB Criteria
Discover Products Inc. (“DPI” or the “Asserting Party”) is responsible for assessing its compliance, as of and for the year ended November 30, 2012 (the “Reporting Period”), with the servicing criteria applicable to it in connection with the Servicing Agreement dated January 1, 2011 by and between DPI and Discover Bank. The Asserting Party used the criteria set forth in Item 1122(d) of Regulation AB, excluding the criteria set forth in Items 1122 (d)(1)(i), (d)(1)(iii), (d)(1)(iv), (d)(2)(ii), (d)(2)(iii), (d)(2)(iv), (d)(2)(v), (d)(2)(vi), (d)(2)(vii), (d)(3)(i), (d)(3)(ii), (d)(3)(iii), (d)(3)(iv), (d)(4)(i), (d)(4)(ii), (d)(4)(iii), (d)(4)(v), (d)(4)(x), (d)(4)(xi), (d)(4)(xii), (d)(4)(xiii), and (d)(4)(xv) of Regulation AB, which the Asserting Party has concluded are not applicable to the activities it performs with respect to the asset-backed securities transactions covered by this report (such applicable criteria, after giving effect to the exclusions identified above, the “Applicable Servicing Criteria”), to assess such compliance. The transactions covered by this report include all asset-backed securities transactions involving credit card receivables conducted by Discover Card Master Trust I and Discover Card Execution Note Trust that were registered with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended, or were not required to be registered where the related asset-backed securities were outstanding during the Reporting Period (the “Platform”), as listed in Appendix A.
DPI has assessed its compliance with the Applicable Servicing Criteria for the Reporting Period and has concluded that the Asserting Party has complied, in all material respects, with the Applicable Servicing Criteria for the Reporting Period with respect to the Platform taken as a whole.
Deloitte & Touche LLP, an independent registered public accounting firm, has issued an attestation report for the Platform on the assessment of compliance with the Applicable Servicing Criteria for the Reporting Period as set forth in this assertion.
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| | Discover Products Inc. |
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| By: | | /s/ James V. Panzarino |
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| | James V. Panzarino, |
| | Executive Vice President |
Date: February 19, 2013
Appendix A
Series 2005-4:
Subseries 2, Class A Credit Card Pass-Through Certificates
Subseries 2, Class B Credit Card Pass-Through Certificates
Series 2006-2:
Subseries 3, Class A Credit Card Pass-Through Certificates
Subseries 3, Class B Credit Card Pass-Through Certificates
Series 2007-2:
Class A Credit Card Pass-Through Certificates
Class B Credit Card Pass-Through Certificates
Series 2007-3:
Subseries 2, Class A Credit Card Pass-Through Certificates
Subseries 2, Class B Credit Card Pass-Through Certificates
Series 2009-CE:
Series 2009-CE Credit Card Pass-Through Certificate
Series 2009-SD:
Series 2009-SD Credit Card Pass-Through Certificate
Series 2007-CC:
Class A (2007-1) DiscoverSeries Notes
Class A (2007-2) DiscoverSeries Notes
Class A (2008-4) DiscoverSeries Notes
Class A (2008-C) DiscoverSeries Notes
Class A (2009-1) DiscoverSeries Notes
Class A (2009-2) DiscoverSeries Notes
Class A (2010-1) DiscoverSeries Notes
Class A (2010-A) DiscoverSeries Notes
Class A (2010-B) DiscoverSeries Notes
Class A (2010-C) DiscoverSeries Notes
Class A (2010-2) DiscoverSeries Notes
Class A (2010-D) DiscoverSeries Notes
Class A (2010-E) DiscoverSeries Notes
Class A (2011-A) DiscoverSeries Notes
Class A (2011-B) DiscoverSeries Notes
Class A (2011-1) DiscoverSeries Notes
Class A (2011-C) DiscoverSeries Notes
Class A (2011-2) DiscoverSeries Notes
Class A (2011-3) DiscoverSeries Notes
Class A (2011-4) DiscoverSeries Notes
Class A (2012-1) DiscoverSeries Notes
Class A (2012-A) DiscoverSeries Notes
Class A (2012-2) DiscoverSeries Notes
Class A (2012-3) DiscoverSeries Notes
Class A (2012-4) DiscoverSeries Notes
Class A (2012-5) DiscoverSeries Notes
Class A (2012-6) DiscoverSeries Notes
Class B (2007-1) DiscoverSeries Notes
Class B (2009-2) DiscoverSeries Notes
Class B (2010-1) DiscoverSeries Notes
Class B (2011-1) DiscoverSeries Notes
Class B (2011-2) DiscoverSeries Notes
Class B (2011-3) DiscoverSeries Notes
Class B (2012-1) DiscoverSeries Notes
Class B (2012-2) DiscoverSeries Notes
Class B (2012-3) DiscoverSeries Notes
Class C (2009-2) DiscoverSeries Notes
Class C (2010-1) DiscoverSeries Notes
Class C (2011-1) DiscoverSeries Notes
Class C (2011-2) DiscoverSeries Notes
Class C (2011-3) DiscoverSeries Notes
Class C (2012-1) DiscoverSeries Notes
Class C (2012-2) DiscoverSeries Notes
Class C (2012-3) DiscoverSeries Notes
Class D (2009-1) DiscoverSeries Notes
