Attached files
file | filename |
---|---|
10-K - FORM 10-K - FIRST NATIONAL FUNDING LLC | c63741e10vk.htm |
EX-33.3 - EX-33.3 - FIRST NATIONAL FUNDING LLC | c63741exv33w3.htm |
EX-33.1 - EX-33.1 - FIRST NATIONAL FUNDING LLC | c63741exv33w1.htm |
EX-34.1 - EX-34.1 - FIRST NATIONAL FUNDING LLC | c63741exv34w1.htm |
EX-35.2 - EX-35.2 - FIRST NATIONAL FUNDING LLC | c63741exv35w2.htm |
EX-33.2 - EX-33.2 - FIRST NATIONAL FUNDING LLC | c63741exv33w2.htm |
EX-34.3 - EX-34.3 - FIRST NATIONAL FUNDING LLC | c63741exv34w3.htm |
EX-31.1 - EX-31.1 - FIRST NATIONAL FUNDING LLC | c63741exv31w1.htm |
EX-23.1 - EX-23.1 - FIRST NATIONAL FUNDING LLC | c63741exv23w1.htm |
EX-35.1 - EX-35.1 - FIRST NATIONAL FUNDING LLC | c63741exv35w1.htm |
EXHIBIT 34.2
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Shareholders
First National Credit Card Center, Inc.
First National Credit Card Center, Inc.
We have examined managements assertion, included in the accompanying Managements Report on
Assessment of Compliance with Servicing Criteria Pursuant to Item 1122 of Regulation AB, that First
National Credit Card Center, Inc. (FNCCC), which is a wholly owned subsidiary of First National
Bank of Omaha (FNBO) complied with the servicing criteria set forth in Item 1122(d) of the
Securities and Exchange Commissions Regulation AB for asset-backed securities transactions
involving credit card receivables conducted by First National Master Note Trust (the Platform) as
of and for the year ended December 31, 2010, excluding criteria 1122(d)(1)(iii), 1122(d)(2)(iii),
1122(d)(2)(vi), 1122(d)(3)(iii), 1122(d)(3)(iv) and 1122(d)(4)(x), which management has determined
are not applicable to the activities performed by FNCCC with respect to the Platform. Management is
responsible for FNCCCs compliance with the servicing criteria. Our responsibility is to express an
opinion on managements assertion about FNCCCs compliance with the servicing criteria based on our
examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants, as adopted by the Public Company Accounting
Oversight Board (United States), and, accordingly, included examining, on a test basis, evidence
about FNCCCs compliance with the applicable servicing criteria, including tests on a sample basis
of the servicing activities related to the Platform, determining whether FNCCC performed those
selected activities in compliance with the servicing criteria during the specified period, and
performing such other procedures as we considered necessary in the circumstances. Our procedures
were limited to selected servicing activities performed by FNCCC during the period covered by this
report and, accordingly, such samples may not have included servicing activities related to each
asset-backed transaction included in the Platform. Further, an examination is not designed to
detect noncompliance arising from errors that may have occurred prior to the period specified above
that may have affected the balances or amounts calculated or reported by FNCCC during the period
covered by this report. We believe that our examination provides a reasonable basis for our
opinion. Our examination does not provide a legal determination on FNCCCs compliance with the
servicing criteria.
In our opinion, managements assertion that FNCCC complied with the aforementioned applicable
servicing criteria as of and for the year ended December 31, 2010 for the Platform is fairly
stated, in all material respects.
/s/ Deloitte & Touche LLP
Omaha, Nebraska
March 24, 2011
March 24, 2011