# EDGAR Filing Document

**Accession Number:** 0001260125
**File Stem:** 0001104659-23-039996
**Filing Date:** 2023-3
**Character Count:** 11479
**Document Hash:** af96c3d22933ca496c953adcc955107d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-039996.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001104659-23-039996

**CONFORMED SUBMISSION TYPE**: 305B2

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**EFFECTIVENESS DATE**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HYUNDAI ABS FUNDING LLC
- **CENTRAL INDEX KEY:** 0001260125
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 330978455
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 305B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-261719
- **FILM NUMBER:** 23785850

**BUSINESS ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612
- **BUSINESS PHONE:** 949-732-2697

**MAIL ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HYUNDAI ABS FUNDING CORP
- **DATE OF NAME CHANGE:** 20030815

UNITED STATES 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) ⌧

**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 Identification No.) |
| **388 Greenwich St., New York, NY** | **10013** |
| (Address of principal executive office) | (Zip Code) |

---

**Hyundai Auto Receivables Trust 2023-A**

(Exact name of obligor as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **33-0978453** |
| (Jurisdiction of Incorporation or organization<br> if not a U.S. national bank) | (I.R.S. Employer Identification No.) |
| **c/o: US Bank National Association** **<br> 300 Delaware Ave., 9<sup>th</sup> Floor<br> Wilmington, DE** | **19801** |
| (Address of principal executive office) | (Zip Code) |

---

**Asset Backed Securities**

(Title of the Indenture Securities)

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.

---

| | |
|:---|:---|
| <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.

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.

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, 2022 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.](tm239078d4_ex7.htm)

Exhibit 8 - Not applicable.

Exhibit 9 - Not applicable.

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 31st day of March 2023.

---

| | |
|:---|:---|
| CITIBANK, N.A. | CITIBANK, N.A. |
| By: | /s/ Kerry Hehir |
|  | Kerry Hehir |
|  | Senior Trust Officer |

---

## Ex-7

**Exhibit 7**

**CITIGROUP CONSOLIDATED BALANCE SHEET**

(In millions of dollars)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | **4Q22 Increase/** | **4Q22 Increase/** |
|  | | | | | | **(Decrease) from** | **(Decrease) from** |
|  |<br>**December 31,**<br>**2021** |<br>**March 31,**<br>**2022** |<br>**June 30,**<br>**2022** |<br>**September 30,**<br>**2022** |<br>**December 31,**<br>**2022<sup>(1)</sup>** | **3Q22** | **4Q21** |
| **Assets** |  |  |  |  |  |  |  |
| Cash and due from banks (including segregated cash and other deposits) | $27515 | $27768 | $24902 | $26502 | $30577 | 15% | 11% |
| Deposits with banks, net of allowance | 234518 | 244319 | 259128 | 273105 | 311448 | 14% | 33% |
| Securities borrowed and purchased under agreements to resell, net of allowance | 327288 | 345410 | 361334 | 349214 | 365401 | 5% | 12% |
| Brokerage receivables, net of allowance | 54340 | 89218 | 80486 | 79696 | 54192 | (32)% |  |
| Trading account assets | 331945 | 357997 | 340875 | 358260 | 334114 | (7)% | 1% |
| Investments |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Available-for-sale debt securities, net of allowance | 288522 | 264774 | 238499 | 232143 | 249679 | 8% | (13)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Held-to-maturity debt securities, net of allowance | 216963 | 242547 | 267592 | 267864 | 268863 |  | 24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity securities | 7337 | 7281 | 7787 | 8009 | 8040 |  | 10% |
| Total investments | 512822 | 514602 | 513878 | 508016 | 526582 | 4% | 3% |
| Loans, net of unearned income |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer<sup>(2)</sup> | 376534 | 350328 | 355605 | 357583 | 368067 | 3% | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate<sup>(3)</sup> | 291233 | 309341 | 301728 | 288377 | 289154 |  | (1)% |
| Loans, net of unearned income | 667767 | 659669 | 657333 | 645960 | 657221 | 2% | (2)% |
| Allowance for credit losses on loans (ACLL) | (16455) | (15393) | (15952) | (16309) | (16974) | (4)% | (3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans, net | 651312 | 644276 | 641381 | 629651 | 640247 | 2% | (2)% |
| Goodwill | 21299 | 19865 | 19597 | 19326 | 19691 | 2% | (8)% |
| Intangible assets (including MSRs) | 4495 | 4522 | 4526 | 4485 | 4428 | (1)% | (1)% |
| Other assets, net of allowance | 125879 | 146128 | 134797 | 132809 | 129996 | (2)% | 3% |
| **Total assets** | $**2291413** | $**2394105** | $**2380904** | $**2381064** | $**2416676** | 1% | **5%** |
| **Liabilities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits in U.S. offices | $158552 | $153666 | $147214 | $135514 | $122655 | (9)% | (23)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in U.S. offices | 543283 | 557327 | 565785 | 570920 | 607470 | 6% | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total U.S. deposits | 701835 | 710993 | 712999 | 706434 | 730125 | 3% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing deposits in offices outside the U.S. | 97270 | 98579 | 100266 | 98904 | 95182 | (4)% | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in offices outside the U.S. | 518125 | 524139 | 508583 | 501148 | 540647 | 8% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total international deposits | 615395 | 622718 | 608849 | 600052 | 635829 | 6% | 3% |
| Total deposits | 1317230 | 1333711 | 1321848 | 1306486 | 1365954 | 5% | 4% |
| Securities loaned and sold under agreements to resell | 191285 | 204494 | 198472 | 203429 | 202444 |  | 6% |
| Brokerage payables | 61430 | 91324 | 96474 | 87841 | 69218 | (21)% | 13% |
| Trading account liabilities | 161529 | 188059 | 180453 | 196479 | 170647 | (13)% | 6% |
| Short-term borrowings | 27973 | 30144 | 40054 | 47368 | 47096 | (1)% | 68% |
| Long-term debt | 254374 | 253954 | 257425 | 253068 | 271606 | 7% | 7% |
| Other liabilities<sup>(4)</sup> | 74920 | 94066 | 86552 | 87276 | 87873 | 1% | 17% |
| **Total liabilities** | $**2088741** | $**2195752** | $**2181278** | $**2181947** | $**2214838** | 2% | **6%** |
| **Equity** |  |  |  |  |  |  |  |
| **Stockholders' equity** |  |  |  |  |  |  |  |
| Preferred stock | $18995 | $18995 | $18995 | $18995 | $18995 |  |  |
| Common stock | 31 | 31 | 31 | 31 | 31 |  |  |
| Additional paid-in capital | 108003 | 108050 | 108210 | 108347 | 108458 |  |  |
| Retained earnings | 184948 | 187962 | 191261 | 193462 | 194734 | 1% | 5% |
| Treasury stock, at cost | (71240) | (73744) | (73988) | (73977) | (73967) |  | (4)% |
| Accumulated other comprehensive income (loss) (AOCI)<sup>(5)</sup> | (38765) | (43585) | (45495) | (48298) | (47062) | 3% | (21)% |
| **Total common equity** | $**182977** | $**178714** | $**180019** | $**179565** | $**182194** | 1% | **-** |
| **Total Citigroup stockholders' equity** | $**201972** | $**197709** | $**199014** | $**198560** | $**201189** | 1% | **-** |
| Noncontrolling interests | 700 | 644 | 612 | 557 | 649 | 17% | (7)% |
| **Total equity** | **202672** | **198353** | **199626** | **199117** | **201838** | 1% | **-** |
| **Total liabilities and equity** | $**2291413** | $**2394105** | $**2380904** | $**2381064** | $**2416676** | 1% | **5%** |

---

(1) Preliminary.

(2) Consumer loans include loans managed by PBWM and Legacy Franchises
(other than Mexico Small Business & Middle-Market Banking (Mexico SBMM) loans).

(3) Corporate loans include loans managed by ICG and Legacy Franchises-Mexico
SBMM.

(4) Includes allowance for credit losses for unfunded lending commitments.
See page 15.

(5) As discussed in footnote 2 on page 1, Citi's third quarter
of 2021 results include an approximate $680 million loss on sale (an approximate $580 million after-tax), related to Citi's agreement
to sell its Australia consumer banking business. The loss primarily reflects the impact of an approximate $625 million ($475 million
(after-tax)) currency translation adjustment (CTA) loss (net of hedges) at September 30, 2021, December 31, 2021 and March 31,
2022, already reflected in the Accumulated Other Comprehensive Income (AOCI) component of equity. The sale closed during the second quarter
of 2022, and the CTA balance was removed from the AOCI component of equity as of the end of the second quarter of 2022, resulting in
a neutral impact from CTA to Citi's Common Equity Tier 1 Capital.

NM Not meaningful.

Reclassified to conform to the current period's presentation.