# EDGAR Filing Document

**Accession Number:** 0001957685
**File Stem:** 0001193125-23-003254
**Filing Date:** 2023-1
**Character Count:** 11992
**Document Hash:** 7cd0952e66c6851fe1b89a2997d9ecc1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-003254.hdr.sgml**: 20230106

**ACCESSION NUMBER**: 0001193125-23-003254

**CONFORMED SUBMISSION TYPE**: 305B2

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230106

**DATE AS OF CHANGE**: 20230106

**EFFECTIVENESS DATE**: 20230106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GM Financial Consumer Automobile Receivables Trust 2023-1
- **CENTRAL INDEX KEY:** 0001957685
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 305B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-249515-09
- **FILM NUMBER:** 23514375

**BUSINESS ADDRESS:**
- **STREET 1:** C/O AMERICREDIT FINANCIAL SERVICES INC
- **STREET 2:** 801 CHERRY ST STE 3500
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102
- **BUSINESS PHONE:** 8173027000

**MAIL ADDRESS:**
- **STREET 1:** C/O AMERICREDIT FINANCIAL SERVICES INC
- **STREET 2:** 801 CHERRY STREET SUITE 3500
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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**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) _**<u>X</u>**___

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**CITIBANK, N.A.** 

(exact name of trustee as specified in its charter)

---

| | |
|:---|:---|
| **A National Banking Association** | **13-5266470** |
| (Jurisdiction of Incorporation or organization if<br>not a U.S. national bank) | (I.R.S. Employer Indentifiction No.) |
| **399 Park Ave., New York, NY** | **10043** |
| (Address of principal executive office) | (Zip Code) |

---

**GM Financial Consumer Automobile Receivables Trust 2023-1** 

(Exact name of obligor as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **92-6233942** |
| (Jurisdiction of Incorporation or organization if<br>not a U.S. national bank) | (I.R.S. Employer Indentifiction No.) |
| **c/o Wilmington Trust Company,**<br> **as Owner Trustee**<br> **1100 North Market Street,**<br> **Wilmington, Delaware**<br> **Or such other address specified in the<br>applicable Prospectus Supplement**<br>| **19890** |
| (Address of principal executive office) | (Zip Code) |

---

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**Asset Backed Securities** 

(Title of the Indenture Securities)

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Item 1. General Information.

Furnish the following information as to the trustee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Name and address of each examining or supervising authority to which it is subject.

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| | |
|:---|:---|
| <u>Name</u> | <u>Address</u> |
| Comptroller of the Currency | Washington, D.C. |
| Federal Reserve Bank of New York | New York, NY |
| 33 Liberty Street |  |
| New York, NY |  |
| Federal Deposit Insurance Corporation | Washington, D.C. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Whether it is authorized to exercise corporate trust powers.

Yes. <br>

Item 2. Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

Items 3. -15. Not Applicable

Item 16. List of Exhibits.

List below all exhibits filed as a part of this Statement of Eligibility.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as exhibits hereto.

Exhibit 1 - Copy of Articles of Association of the Trustee, as now in effect (Exhibit 1 to T-1 to Registration Statement No. 2-79983).

Exhibit 2 - Copy of certificate of authority of the Trustee to commence business (Exhibit 2 to T-1 to Registration Statement No. 2-29577).

Exhibit 3 - Copy of authorization of the Trustee to exercise corporate trust powers (Exhibit 3 to T-1 to Registration Statement No. 2-55519).

Exhibit 4 - Copy of existing By-Laws of the Trustee (Exhibit 4 to T-1 to Registration Statement No. 33-34988).

Exhibit 5 - Not applicable.

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Exhibit 6 - The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939 (Exhibit 6 to T-1 to Registration Statement No. 33-19227).

Exhibit 7 - Copy of the latest Report of Condition of Citibank, N.A (as of December 31, 2021 – Attached)

Exhibit 8 - Not applicable.

Exhibit 9 - Not applicable.

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SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, Citibank, N.A., a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York and State of New York, on the 6th day of January 2023.

---

| | |
|:---|:---|
| CITIBANK, N.A. | CITIBANK, N.A. |
| By | <u>/s/Kristen Driscoll</u> |
|  | Kristen Driscoll |
|  | Senior Trust Officer |

---

## Exhibit 99.7

**Exhibit 7** 

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| | | | |
|:---|:---|:---|:---|
| **CONSOLIDATED STATEMENT OF CASH FLOWS** | *Citigroup Inc. and Subsidiaries* | *Citigroup Inc. and Subsidiaries* | *Citigroup Inc. and Subsidiaries* |
|  | **Years ended December 31,** | **Years ended December 31,** | **Years ended December 31,** |
| *In millions of dollars* | **2021** | 2020 | 2019 |
|  **Cash flows from operating activities of continuing operations** |  |  |  |
|  **Net income before attribution of noncontrolling interests** | **$22025** | $11087 | $19467 |
|  **Net income attributable to noncontrolling interests** | **73** | 40 | 66 |
|  **Citigroup's net income** | **$21952** | $11047 | $19401 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from discontinued operations, net of taxes** | **7** | (20) | (4) |
|  **Income from continuing operations—excluding noncontrolling interests** | **$21945** | $11067 | $19405 |
|  **Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net loss on significant disposals<sup>(1)</sup>  | **700** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | **3964** | 3937 | 3905 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deferred income taxes | **1413** | (2333) | (610) |
| &nbsp;&nbsp;&nbsp;&nbsp; Provision for credit losses on loans and unfunded lending commitments | **(3891)** | 17368 | 8310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gains from sales of investments | **(665)** | (1756) | (1474) |
| &nbsp;&nbsp;&nbsp;&nbsp; Impairment losses on investments and other assets | **206** | 165 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in trading account assets | **43059** | (98997) | (20124) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in trading account liabilities | **(6498)** | 48133 | (24411) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in brokerage receivables net of brokerage payables | **1412** | (3066) | (20377) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in loans HFS | **(3809)** | 1202 | (909) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in other assets | **(2139)** | (1012) | 4724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in other liabilities | **6839** | 558 | 1737 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other, net | **(1287)** | 4113 | 16955 |
|  **Total adjustments** | **$39304** | $(31688) | $(32242) |
|  **Net cash provided by (used in) operating activities of continuing operations** | **$61249** | $(20621) | $(12837) |
|  **Cash flows from investing activities of continuing operations** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in securities borrowed and purchased under agreements to resell | **$(32576)** | $(43390) | $19362 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in loans | **(1173)** | 14249 | (22466) |
| &nbsp;&nbsp;&nbsp;&nbsp; Proceeds from sales and securitizations of loans | **2918** | 1495 | 2878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchases of investments | **(359158)** | (334900) | (274491) |
| &nbsp;&nbsp;&nbsp;&nbsp; Proceeds from sales of investments | **126728** | 146285 | 137173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Proceeds from maturities of investments | **142100** | 124229 | 119051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital expenditures on premises and equipment and capitalized software | **(4119)** | (3446) | (5336) |
| &nbsp;&nbsp;&nbsp;&nbsp; Proceeds from sales of premises and equipment, subsidiaries and affiliates and repossessed assets | **190** | 50 | 259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other, net | **185** | 116 | 196 |
|  **Net cash used in investing activities of continuing operations** | **$(124905)** | $(95312) | $(23374) |
|  **Cash flows from financing activities of continuing operations** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends paid | **$(5198)** | $(5352) | $(5447) |
| &nbsp;&nbsp;&nbsp;&nbsp; Issuance of preferred stock | **3300** | 2995 | 1496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemption of preferred stock | **(3785)** | (1500) | (1980) |
| &nbsp;&nbsp;&nbsp;&nbsp; Treasury stock acquired | **(7601)** | (2925) | (17571) |
| &nbsp;&nbsp;&nbsp;&nbsp; Stock tendered for payment of withholding taxes | **(337)** | (411) | (364) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in securities loaned and sold under agreements to repurchase | **(8240)** | 33186 | (11429) |
| &nbsp;&nbsp;&nbsp;&nbsp; Issuance of long-term debt | **70658** | 76458 | 59134 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payments and redemptions of long-term debt | **(74950)** | (63402) | (51029) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in deposits | **44966** | 210081 | 57420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in short-term borrowings | **(1541)** | (15535) | 12703 |

---

Statement continues on the next page.

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| | | | |
|:---|:---|:---|:---|
| **CONSOLIDATED STATEMENT OF CASH FLOWS (Continued)** | *Citigroup Inc. and Subsidiaries* | *Citigroup Inc. and Subsidiaries* | *Citigroup Inc. and Subsidiaries* |
|  | **Years ended December 31,** | **Years ended December 31,** | **Years ended December 31,** |
| *In millions of dollars* | **2021** | 2020 | 2019 |
|  **Net cash provided by financing activities of continuing operations** | **$17272** | $233595 | $42933 |
|  Effect of exchange rate changes on cash and due from banks | **$(1198)** | $(1966) | $(908) |
|  **Change in cash, due from banks and deposits with banks** | **(47582)** | 115696 | 5814 |
|  **Cash, due from banks and deposits with banks at beginning of year** | **309615** | 193919 | 188105 |
|  **Cash, due from banks and deposits with banks at end of year** | **$262033** | $309615 | $193919 |
|  Cash and due from banks (including segregated cash and other deposits) | **$27515** | $26349 | $23967 |
|  Deposits with banks, net of allowance | **234518** | 283266 | 169952 |
|  **Cash, due from banks and deposits with banks at end of year** | **$262033** | $309615 | $193919 |
|  **Supplemental disclosure of cash flow information for continuing operations** |  |  |  |
|  Cash paid during the year for income taxes | **$4028** | $4797 | $4888 |
|  Cash paid during the year for interest | **7143** | 12094 | 27901 |
|  **Non-cash investing activities<sup>(1)(2)</sup>**  |  |  |  |
|  Decrease in net loans associated with significant disposals reclassified to HFS | **$9945** | $— | $— |
|  Transfers to loans HFS *(Other assets)* from loans | **7414** | 2614 | 5500 |
|  **Non-cash financing activities<sup>(1)</sup>**  |  |  |  |
|  Decrease in long-term debt associated with significant disposals reclassified to HFS | **$479** | $— | $— |
|  Decrease in deposits associated with significant disposals reclassified to HFS | **8407** |  |  |

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(1) See Note 2 to the Consolidated Financial Statements for further information on significant disposals.

(2) Operating and finance lease right-of-use assets and lease liabilities represent non-cash investing and financing activities, respectively, and are not included in the non-cash investing activities presented
here. See Note 26 to the Consolidated Financial Statements for more information and balances.

The Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements.