Exhibit 33.2



MANAGEMENT’S ASSESSMENT OF COMPLIANCE



Management of the Agency and Trust division
of Citibank, N.A. (or “Company”) is responsible for assessing compliance with the servicing criteria set forth in
Item 1122(d) of Regulation AB promulgated by the Securities and Exchange Commission.



Management has determined that the servicing
criteria in Item 1122(d) of Regulation AB are applicable in regard to the servicing platform as of and for the period as follows:



Platform:
Publicly-issued (i.e., transaction-level reporting initially required under the Securities Exchange Act of 1934, as amended) equipment
loan-backed securities issued by CNH Equipment Trust, as listed in Appendix A, for which the Company provides trustee and paying agent
services (the “Platform”).



Applicable
Servicing Criteria: All servicing criteria set forth in Item 1122(d), to the extent required
by Item 1122(d) servicing criteria in regards to the activities performed by the Company with respect to the Platform, except for
the following servicing criteria: 1122(d)(1)(i)-1122(d)(1)(v), 1122(d)(2)(iii), 1122(d)(2)(vi)-1122(d)(2)(vii), 1122(d)(3)(i) and
1122(d)(4)(i)-1122(d)(4)(xv), which management has determined are not applicable to the activities the Company performs with respect
to the Platform (the “Applicable Servicing Criteria”). With respect to the Platform, Applicable Servicing Criterion 1122(d)(3)(ii) is
applicable only as it relates to remittances.



Period:
Twelve months ended December 31, 2023 (the “Period”).



With respect to the Platform as of and
for the Period, the Company’s management provides the following assessment of compliance with respect to the Applicable Servicing
Criteria:



| | · | The
                                            Company’s management is responsible for assessing the Company’s compliance with
                                            the Applicable Servicing Criteria.
| | - | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | The
                                            Company’s management has assessed compliance with the Applicable Servicing Criteria.
                                            In making this assessment, management used the criteria set forth by the Securities and Exchange
                                            Commission in paragraph (d) of Item 1122 of Regulation AB.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | Based
                                            on such assessment, the Company has complied, in all material respects, with the Applicable
                                            Servicing Criteria.
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



KPMG LLP, an independent registered
public accounting firm, has issued an attestation report with respect to management’s assessment of compliance with the Applicable
Servicing Criteria as of and for the Period.



| | CITIBANK, N.A. |                   
| | -------------- | ------------------
| |                |                   
| | By:            | /s/ James Maitland
| | Its:           | Managing Director 



Dated: February 29, 2024













Appendix A



CNH Transactions and Securities Constituting
the Platform



DEAL NAME

|CNH Equipment Trust 2019-A
|--------------------------
|CNH Equipment Trust 2019-B
|CNH Equipment Trust 2019-C
|CNH Equipment Trust 2020-A
|CNH Equipment Trust 2021-A
|CNH Equipment Trust 2021-B
|CNH Equipment Trust 2021-C
|CNH Equipment Trust 2022-A
|CNH Equipment Trust 2022-B
|CNH Equipment Trust 2022-C
|CNH Equipment Trust 2023-A
|CNH Equipment Trust 2023-B