SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event

Reported): December 27, 2004

Franklin Receivables LLC
(Exact name of registrant as specified in its charter)

Delaware	333-106297	94-3301790
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

47 West 200 South, Suite 500
Salt Lake City, Utah 84101
(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code (801) 238-6700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	Pre-commencement communications pursuant to Rule 14d-2(d) under the Exchange Act (17 CFR 240.14d-2(b))
	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

~~Filing~~This Current Report on Form 8-K is being filed to file the Consent of ~~Computational~~Independent ~~Materials~~Accountants to the incorporation by reference in the Prospectus Supplement, dated December 2, 2004 relating to the Registrant's Asset-Backed Notes, of the accountants’ consent dated December 7, 2004 on the audits of the financial statements of MBIA Insurance Corporation. The Consent of Independent Accountants is set forth in Exhibit 23.1.

~~Copies~~Item ~~of the Computational Materials (as defined below) prepared and distributed by Citigroup Global Markets Inc~~9.~~, in connection with the issuance by Franklin Auto Trust 2004-2 of Auto Loan Asset-Backed Notes, Series 2004-2 are being filed on this Form 8-K~~01. The term “Computational Materials” shall have the meaning given in the No-Action Letter of May 20, 1994 issued by the Securities and Exchange Commission (the “SEC”) to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co. Incorporated and Kidder Structured Asset Corporation, as made applicable to other issuers and underwriters by the Commission in response to the request of the Public Securities Association dated May 24, 1994, and supplemented in the No-Action Letter of February 17, 1995 issued by the SEC to the Public Securities Association.

~~Item 9.01.~~ Financial Statements and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

~~99.1 Computational~~Item ~~Materials~~601(a) of ~~Citigroup~~Regulation ~~Global Markets Inc.~~S-K

Exhibit No.

Description

23.1

Consent of Independent Accountants

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FRANKLIN RECEIVABLES LLC

By: /s/ Harold E. Miller, Jr.

Harold E. Miller, Jr.

President and Chief Executive Officer

Dated: December 27, 2004

Exhibit Index

~~Exhibit~~ Item 601(a) of Regulation S-K

Page

Exhibit No.	Description	Page

23.1	Consent of Independent Accountants (PricewaterhouseCoopers LLP) as to the financial statements of MBIA Insurance Corporation and as to the reference of PricewaterhouseCoopers LLP under the caption “Experts” in the Prospectus Supplement dated as of December 2, 2004 Incorporated by reference to Form 8-K filed on December 7, 2004 with the SEC.	5

99Exhibit 23.1

~~Computational~~CONSENT ~~Materials~~OF ofINDEPENDENT ~~Citigroup~~REGISTERED ~~Global~~PUBLIC ~~Markets~~ACCOUNTING ~~Inc.~~FIRM

6We hereby consent to the incorporation by reference in the Prospectus Supplement of Franklin Capital Corporation, relating to Franklin Auto Trust 2004-2, comprising part of the Registration Statement (No. 333-106297) of Franklin Receivables LLC, of our report dated February 13, 2004 relating to the financial statements, which appears in Item 8 of MBIA Inc.’s Annual Report on Form 10-K for the year ended December 31, 2003. We also consent to the incorporation by reference of our report dated February 13, 2004 relating to the financial statement schedules, which appears in such Annual Report on Form 10-K. We also consent to the incorporation by reference of our report dated February 13, 2004 relating to the financial statements of MBIA Insurance Corporation as of December 31, 2003 and 2002, and for each of the three years in the period ended December 31, 2003, which is included in Exhibit 99 to such Annual Report on Form 10-K. We also consent to the reference to us under the heading “Experts” in the Prospectus Supplement.

/s/ PriceWaterhouseCoopers LLP

PriceWaterhouseCoopers LLP

December 7, 2004

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