SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
Statement of Eligibility
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) _______________
HARRIS TRUST AND SAVINGS BANK
(Name of Trustee)
Illinois 36-1194448
(I.R.S. Employer
(State of Incorporation) Identification No.)
111 West Monroe Street, Chicago, Illinois 60603
(Address of principal executive offices)
Daniel G. Donovan, Harris Trust and Savings Bank,
111 West Monroe Street, Chicago, Illinois, 60603
312-461-2908
(Name, address and telephone number for agent for service)
FIRST UNION CORPORATION
(Name of Obligor)
North Carolina 56-0892180
(I.R.S. Employer
(State of Incorporation) Identification No.)
One First Union Center
Charlotte, North Carolina 28288-0013
(Address of principal executive offices)
Debt Securities
(Title of indenture securities)
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.
Commissioner of Banks and Trust Companies, State of Illinois,
Springfield, Illinois; Chicago Clearing House Association, 164
West Jackson Boulevard, Chicago, Illinois; Federal Deposit
Insurance Corporation, Washington, D.C.; The Board of
Governors of the Federal Reserve System,Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers.
Harris Trust and Savings Bank is authorized to exercise
corporate trust powers.
2. AFFILIATIONS WITH OBLIGOR. If the Obligor is an affiliate of
the Trustee, describe each such affiliation.
The Obligor is not an affiliate of the Trustee.
3. thru 15.
NO RESPONSE NECESSARY
16. LIST OF EXHIBITS.
1. A copy of the articles of association of the Trustee is
now in effect which includes the authority of the
trustee to commence business and to exercise corporate
trust powers.
A copy of the Certificate of Merger dated April 1, 1972
between Harris Trust and Savings Bank, HTS Bank and
Harris Bankcorp, Inc. which constitutes the articles of
association of the Trustee as now in effect and includes
the authority of the Trustee to commence business and to
exercise corporate trust powers was filed in connection
with the Registration Statement of Louisville Gas and
Electric Company, File No. 2-44295, and is incorporated
herein by reference.
2. A copy of the existing by-laws of the Trustee.
A copy of the existing by-laws of the Trustee was
filed in connection with the Registration Statement
of C-Cube Microsystems, Inc., File No. 33-97166, and is
incorporated herein by reference.
3. The consents of the Trustee required by Section 321(b) of
the Act.
(included as Exhibit A on page 2 of this statement)
4. A copy of the latest report of condition of the Trustee
published pursuant to law or the requirements of its
supervising or examining authority.
(included as Exhibit B on page 3 of this statement)
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
Trustee, HARRIS TRUST AND SAVINGS BANK, a corporation organized and
existing under the laws of the State of Illinois, has duly caused this
statement of eligibility to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of Chicago, and State of
Illinois, on the 9th day of January, 1996.
Harris Trust and Savings Bank
By: (Signature of D. G. Donovan)
D. G. Donovan
Assistant Vice President
EXHIBIT A
The consents of the Trustee required by Section 321(b) of the Act.
Harris Trust and Savings Bank, as the Trustee herein named, hereby
consents that reports of examinations of said trustee by Federal and
State authorities may be furnished by such authorities to the Securities
and Exchange Commission upon request therefor.
Harris Trust and Savings Bank
By: (Signature of D. G. Donovan)
D.G. Donovan
Assistant Vice President
EXHIBIT B
Attached is a true and correct copy of the statement of condition of
Harris Trust and Savings Bank as of June 30, 1995, as published in
accordance with a call made by the State Banking Authority and by the
Federal Reserve Bank of the Seventh Reserve District.
(Logo) HARRIS BANK
Harris Trust and Savings Bank
111 West Monroe Street
Chicago, Illinois 60603
of Chicago, Illinois, And Foreign and Domestic Subsidiaries, at the
close of business on June 30, 1995, a state banking institution
organized and operating under the banking laws of this State and a
member of the Federal Reserve System. Published in accordance with a
call made by the Commissioner of Banks and Trust Companies of the State
of Illinois and by the Federal Reserve Bank of this District.
Bank's Transit Number 71000288
THOUSANDS
ASSETS OF DOLLARS
Cash and balances due from depository institutions:
Non-interest bearing balances and currency and coin...................................... $975,130
Interest bearing balances................................................................ $619,550
Securities:.......................................................................................
a. Held-to-maturity securities $654,606
b. Available-for-sale securities $1,597,462
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 IBF's:
Federal funds sold....................................................................... $272,684
Securities purchased under agreements to resell............................................. $0
Loans and lease financing receivables:
Loans and leases, net of unearned income.................................................... $7,184,420
LESS: Allowance for loan and lease losses.................................................. $91,061
---------------------
Loans and leases, net of unearned income, allowance, and reserve
(item 4.a minus 4.b)........................................................................ $7,093,359
Assets held in trading accounts...................................................................... $335,699
Premises and fixed assets (including capitalized leases)............................................. $139,368
Other real estate owned.............................................................................. $1,018
Investments in unconsolidated subsidiaries and associated companies.................................. $195
Customer's liability to this bank on acceptances outstanding......................................... $120,891
Intangible assets.................................................................................... $21,763
Other assets......................................................................................... $246,739
---------------------------
TOTAL ASSETS $12,078,464
===========================
LIABILITIES
Deposits:
In domestic offices............................................................................... $4,184,673
Non-interest bearing.......................................................................... $2,391,354
Interest bearing.............................................................................. $1,793,319
In foreign offices, Edge and Agreement subsidiaries, and IBF's.................................... $2,559,227
Non-interest bearing.......................................................................... $33,115
Interest bearing.............................................................................. $2,526,112
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 IBF's:
Federal funds purchased........................................................................... $1,361,248
Securities sold under agreements to repurchase.................................................... $1,496,277
Trading Liabilities $264,633
Other borrowed money:..................................................................................
a. With original maturity of one year or less $883,157
b. With original maturity of more than one year $13,390
Bank's liability on acceptances executed and outstanding $120,891
Subordinated notes and debentures....................................................................... $235,000
Other liabilities....................................................................................... $178,632
===========================
TOTAL LIABILITIES $11,297,128
===========================
EQUITY CAPITAL
Common stock............................................................................................ $100,000
Surplus................................................................................................. $275,000
a. Undivided profits and capital reserves.............................................. $409,797
b. Net unrealized holding gains (losses) on available-for-sale securities ($3,461)
---------------------------
TOTAL EQUITY CAPITAL $781,336
===========================
Total liabilities, limited-life preferred stock, and equity capital...................................... $12,078,464
===========================
I, Steve Neudecker, Vice President of the above-named bank, do
hereby declare that this Report of Condition has been prepared in
conformance with the instructions issued by the Board of Governors of
the Federal Reserve System and is true to the best of my knowledge and
belief.
STEVE NEUDECKER
7/28/95
We, the undersigned directors, attest to the correctness of
this Report of Condition and declare that it has been examined by us
and, to the best of our knowledge and belief, has been prepared in
conformance with the instructions issued by the Board of Governors of
the Federal Reserve System and the Commissioner of Banks and Trust
Companies of the State of Illinois and is true and correct.
ALAN G. McNALLY,
DONALD S. HUNT,
JAMES J. GLASSER,
Directors.