Exhibit 33.2



MANAGEMENT’S
ASSERTION 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) and
certain privately issued (i.e., for which transaction-level reporting is required pursuant to contractual obligation) automobile
loan or lease-backed securities, equipment loan-backed securities and student loan-backed securities issued on or after January
1, 2006, 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 as to any transaction, except for the following
criteria: 1122(d)(1)(i)-1122(d)(1)(iv), 1122(d)(2)(i), 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”).



Period:
Twelve months ended December 31, 2012 (the “Period”).



With respect to the
Platform as of and for the Period, the Company’s management provides the following assertion 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.
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| | · | 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.
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| | · | Based on such assessment, the Company has complied, in all material respects, with the Applicable Servicing Criteria.
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KPMG LLP, an independent
registered public accounting firm, has issued an attestation report with respect to management’s assertion of compliance
with the Applicable Servicing Criteria as of and for the Period.



| | CITIBANK, N.A.          
| | ------------------------
| |                         
| | By: /s/ Karen Montbach  
| | Its: Managing Director  
| | Dated: February 28, 2013