UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION UNDER THE
TRUST INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)
FLEET NATIONAL BANK OF MASSACHUSETTS
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(Exact name of trustee as specified in its charter)
U.S. NATIONAL BANK
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(Jurisdiction of incorporation or organization
if not a U.S. national bank)
04-1654298
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(I.R.S. employer identification no.)
One Federal Street, Boston, Massachusetts 02211
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(Address of trustee's principal executive offices) (Zip Code)
Jana Litsey, Fleet Bank, 111 Westminster Street,
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Providence, RI 02903 (401) 278-5375
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(Name, address and telephone number of agent for service)
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State Street Boston Corporation
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(Exact name of obligor as specified in its charter)
Massachusetts 04-2456637
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(State or other jurisdiction (I.R.S. employer
of incorporation or organization) identification no.)
225 Franklin Street
Boston, Massachusetts 02110
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(address of principal executive offices) (zip code)
$500,000,000 Debt Securities
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(Title of the indenture securities)
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the trustee,
Fleet National Bank of Massachusetts, a national banking association organized
and existing under the laws of the United States, has duly caused this statement
of eligibility to be signed on its behalf by the undersigned, thereunto duly
authorized, all in the City of Boston, and Commonwealth of Massachusetts on the
26th day of March, 1996.
FLEET NATIONAL BANK OF MASSACHUSETTS,
Trustee
By: /s/ Natalie S. Forrest
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Name: Natalie S. Forrest
Title: Vice President
NOTE
1. While the Trustee is not presently aware of any such affiliation, if
in the course of its investigation it discovers such an affiliation an amendment
to this form T-1 will be filed.
Item 1. General Information.
Furnish the following information as to the trustee:
(a) Name and Address of each examining or supervising authority to which
it is subject.
The Comptroller of the Currency,
Washington, D.C.
Board of Governors of the Federal Reserve
System, Washington, D.C.
Federal Deposit Insurance Corporation
Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers.
The trustee is so authorized.
Item 2. Affiliations With Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None (see Note on page 3)
Items 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15 have been omitted pursuant
to General Instruction B. (see Note on page 3).
Item 16. List of Exhibits.
List below all exhibits filed as part of this statement of eligibility and
qualification.
1.* A copy of the Articles of Association of the trustee as now in effect is
attached hereto as Exhibit 1. (See Exhibit 25 Registration Statement No.
33-72456)
2.* A copy of the Certificate of Authority of the Trustee to commence business.
(See Exhibit 25 Registration Statement No. 33-72456).
3.* A copy of the authorization of the Trustee to exercise corporate trust
powers. (See Exhibit 25 Registration Statement No. 33-72456).
4.* A copy of the Bylaws of the Trustee as now in effect. (See Exhibit 25
Registration Statement No. 33-72456).
5. Consent of the Trustee required by Section 321 (b) of the Act.
6. A copy of the latest condition of the trustee, published pursuant to law or
the requirements of its supervising or examining authority is attached hereto as
Exhibit 6.
*These Exhibits are incorporated herein by reference.
EXHIBIT 5
CONSENT OF THE TRUSTEE
REQUIRED BY SECTION 321 (b)
OF THE TRUST INDENTURE ACT OF 1939
The undersigned, as Trustee under an Indenture to be entered into between
State Street Boston Corporation, Issuer and Fleet National Bank of
Massachusetts, Trustee, does herby consent that, pursuant to Section 321 (b) of
the Trust Indenture Act of 1939, reports of examinations with respect to the
undersigned by Federal, State, Territorial or District authorities may be
furnished by such authorities to the Securities and Exchange Commission upon
request therefor.
FLEET NATIONAL BANK OF MASSACHUSETTS
TRUSTEE
By: /s/ Natalie S. Forrest
--------------------------------
Name: Natalie S. Forrest
Title: Vice President
Dated: March 26, 1996
Legal Title of Bank: FLEET NATIONAL BANK OF MASSACHUSETTS
Address: ONE FEDERAL STREET
City, State, Zip: BOSTON, MA 02211
FDIC Certificate No: 19429
CALL DATE: 12/31/95 ST-BK: 25-0535 FFIEC 031
Page RC-1
Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for December 31, 1995
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
Schedule RC -- Balance Sheet C400
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Dollar Amounts in Thousands RCFD Bil Mil Thou
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ASSETS //////////////////////////////////
1. Cash and balances due from depository institutions (from //////////////////////////////////
Schedule RC-A): //////////////////////////////////
a. Noninterest-bearing balances and currency and coin (1)........................ 0081 1,210,297 1.a.
b. Interest-bearing balances (2)..................................................0071 8,601 1.b.
2. Securities....................................................................... //////////////////////////////////
a. Held-to-maturity securities (from Schedule RC-B, column A)....................11754 80,820 2.a.
b. Available-for-sale securities (from Schedule RC-B, column D)..................11773 3,240,436 2.b.
3. Federal funds sold and securities purchased under agreements to //////////////////////////////////
resell in domestic offices of the bank and of its Edge and //////////////////////////////////
Agreement subsidiaries, and in IBFs: //////////////////////////////////
a. Federal funds sold............................................................ 0276 130.000 3.a.
b. Securities purchased under agreements to resell............................... 0277 0 3.b.
4. Loans and Lease financing receivables: --------------------- //////////////////////////////////
a. Loans and Leases, net of unearned RCFD 2122 8,779,280 ////////////////////////////////// 4.a
income (from Schedule RC-C).......................... //////////////////////////////////
b. LESS: Allowance for Loan and Lease RCFD 3123 186,968 ////////////////////////////////// 4.b
Losses............................................... //////////////////////////////////
c. LESS: Allocated transfer risk RCFD 3128 0 ////////////////////////////////// 4.c
reserve.............................................. --------------------- //////////////////////////////////
d. Loans and Leases, net of unearned income, //////////////////////////////////
allowance, and reserve (item 4.a minus 4.b and 4.c)........................... 2125 8,592,312 4.d.
5. Trading assets (from Schedule RC-D).............................................. 3545 400 5.
6. Premises and fixed assets (including capitalized Leases)......................... 2145 107,387 6.
7. Other real estate owned (from Schedule RC-M)..................................... 2150 275 7.
8. Investments in unconsolidated subsidiaries and associated //////////////////////////////////
companies (from Schedule RC-M)................................................... 2130 0 8.
9. Customers' Liability to this bank on acceptances outstanding..................... 2155 34,388 9.
10. Intangible assets (from Schedule RC-M)........................................... 2143 92,847 10.
11. Other assets (from Schedule RC-F)................................................ 2160 369,968 11.
12. Total assets (sum of items 1 through 11)......................................... 2170 13,867,731 12.
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(1) Includes cash items in process of collection and unposed debit.
(2) Includes time certificates of deposit not held in trading accounts.
Title of Bank:FLEET NATIONAL BANK OF MASSACHUSETTS
Address: ONE FEDERAL STREET Page RC-2
City, State, Zip: BOSTON, MA 02211
Certificate No: 1 9 4 2 9
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CALL DATE: 12/31/95 ST-BK: 25-0535 FFIEC 031
Schedule RC--Continued
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Dollar Amounts in Thousands ///////////// Bil Mil Thou
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LIABILITIES ////////////////////////////
13. Deposits: ///////////////////////////
a. In domestic offices (sum of totals of columns A & C from Schedule
RC-E, part 1) RCON 2200 9,380,967 13.a
(1) Noninterest-bearing(1) RCON 6631 3,016,656 ///////////////////////// 13.a(1)
(2) Interest-bearing RCON 6636 6,364,311 //////////////////////// 13.a(2)
b. In foreign offices, Edge and Agreement subsidiares, and IBFs ////////////////////////
(from Schedule RC-E, part II) RCFN 2200 384,258 13.b
(1) Noninterest-bearing RCFN 6631 0 //////////////////////
(2) Interest-bearing RCFN 6636 384,258 ////////////////////////// 13.b(1)
14. Federal funds purchased and securities sold under agreements to /////////////////////////
repurchase in domestic offices of the bank and of its Edge and /////////////////////////
Agreement subsidiaries, and in IBFs: ////////////////////////
(a) Federal funds purchased RCFD 0278 1,808,458 14.a
(b) Securities sold under agreement to repurchase RCFD 0279 269,870 14.b
15. a. Demand notes issued to the U.S. Treasury RCFD 2840 116,736 15.a
b. Trading Liabilities (from Schedule RC-D) RCFD 3548 310 15.b
16. Other borrowed money ///////////////////////// 16.
a. With original maturity of one year or Less RCFD 2332 334,947 16.a
b. With original maturity of more than one year RCFD 2333 139,171 16.b
17. Mortgage indebtedness & obligations under capitalized leases RCFD 2910 0 17.
18. Bank's liability on acceptances executed and outstanding RCFD 2920 34,388 18.
19. Subordinated notes and debentures RCFD 3200 88,956 19.
20. Other liabilities (from Schedule RC-G RCFD 2930 160,838 20.
21 Total liabilities (sum of items 13 through 20) RCFD 2948 12,718,899 21.
/////////////////////////
22. Limited-Life preferred stock and related surplus RCFD 3282 0 22.
EQUITY CAPITAL /////////////////////////
23. Perpetual preferred stock and related surplus RCFD 3838 0 23.
24. Common stock RCFD 3830 14,476 24.
25. Surplus (exclude all surplus related to preferred stock) RCFD 3839 608,239 25.
26. a. Undivided profits and capital reserves RCFD 3632 522,976 26.a
b. Net unrealized holding gains (losses) on available-for-sale
securities RCFD 8434 3,141 26.b
27. Cumulative foreign currency translation adjustments RCFD 3284 0 27.
28. Total equity capital (sum of items 23 through 27) RCFD 3210 1,148,832 28.
29. Total liabilities, limited-life preferred stock, and equity /////////////////////////
capital (sum of items 21, 22 and 28) RCFD 3300 13,867,731 29.
Title of Bank: FLEET NATIONAL BANK OF MASSACHUSETTS CALL DATE: 12/31/95
ST-BK: 25-0535 FFIEC 031
Address: ONE FEDERAL STREET Page RC-3
City, State, Zip: BOSTON, MA 02211
Certificate No: 1 9 4 2 9
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Schedule RC--Continued
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Memorandum
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the number of the statement below that best
describes the most comprehensive level of auditing work performed for the
bank by independent external
Number
auditors as of any date during 1992.........................RCFD 6724 N/A M.1
1. Independent audit of the bank conducted in accordance with generally accepted
auditing standards by a certified public account firm which submits a report on
the bank
2. independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company (but
not on the bank separately)
3. Director's examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4. Directors' examination of the bank performed by other external auditors (may
be required by state chartering authority)
5. Review of the bank's financial statements by external auditors
6. Compilation of the bank of the bank's financial statements by external
auditors
7. Other audit procedures (excluding tax preparation work)
8. No external audit work
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(1) Includes total demand deposits and noninterest-bearing time and saving
deposits.
natalie/report