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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) July 17, 1996
Newcourt Receivables Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
33-98378 77-041305
(Commission File Number) (I.R.S. Employer
Identification No.)
408-271-0500
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Index to Exhibits appears at page 4.
ITEM 5. OTHER EVENTS.
The Registrant is filing final forms of the exhibits
listed in Item 7(c) below.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
EXHIBIT NO. DOCUMENT DESCRIPTION
20 Monthly Servicer's Certificate.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly autho-
rized.
NEWCOURT RECEIVABLES CORPORATION
DATED: July 23, 1996 By: /s/ Daniel A. Jauernig
Daniel A. Jauernig
Vice President and Chief Financial
Officer and Director
INDEX TO EXHIBITS
EXHIBIT NO. Document Description
20 Monthly Servicer's Certificate
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Accounts
<TABLE>
<CAPTION>
Master Trust
Collection Reserve Distribution
Account Account Accounts Series 1996-1 Series 1996-2
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Beginning Account Balances 0.00 1,230,576.18 0.00
Investment Earnings 21,928.23 5,774.89
Collection Account
Collections [4.3 a] 5,066,019.36
Add: Servicer Advances [4.3 b] 1,610,259.07
Add: Liquidation Proceeds from
Servicer 0.00
Less: Collections to reimburse
Servicer Advance 0.00
Less: Investment Earnings to
Newcourt [4.2 e] (21,928.23) (5,774.89)
- ----------------------------------------------------------------------------------------------------------------------------------
Available Amount (6,676,278.43) 6,676,278.43
Payments on Payment Date
(A) Unreimbursed Servicer
Advances [4.3d i] (1,543,920.92) 1,543,920.92
(B) Servicing Fee [4.3 d ii] (61,528.81) 61,528.81
(C) Amount owed to Hedging
Counterparty [4.3 d iii] 0.00 0.00
(D) Series Available Amount to each
Series of Notes [4.3 d iv] 5,070,828.70 5,070,828.70 0.00
(1) Class A Interest [4.3 d iv A] (620,259.64) 620,259.64 0.00
(2) Class B Interest [4.3 d iv B] (30,887.46) 30,887.46 0.00
(3) Class A Principal [4.3 d iv C] (4,132,512.56) 4,132,512.56 0.00
(4) Reserve Account [4.3 d iv D] 31,255.83 (31,255.83) (31,255.83) 0.00
(5) Class C Interest [4.3 d iv E] (37,122.38) 37,122.38 0.00
(6) Class B Principal [4.3 d iv F] (125,023.33) 125,023.33 0.00
(7) Class C Principal [4.3 d iv G] (125,023.33) 125,023.33 0.00
(8) Class A Accelerated Principal
Payment [4.3 d iv H] (0.00) 0.00 0.00
(9) Class B Accelerated Principal
Payment [4.3 d iv I) (0.00) 0.00 0.00
(10)Pay to Hedging Counterparty
[4.3 d iv J] 0.00 0.00 0.00
(11)Class C Accelerated Principal
Payment [4.3 d iv K] (0.00) 0.00 0.00
Subtotal 31,255.83
Distributions to Noteholders (6,676,278.43) 1,605,449.73 5,070,828.70 0.00
Ending Balance (0.00) 1,199,320.35 (0.00)
</TABLE>
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Schedules
<TABLE>
<CAPTION>
Class A Interest Schedule Series 1996-1 Series 1996-2
- ------------------------- ------------- -------------
<S> <C> <C>
Opening Class A Principal Balance 109,618,786.94 0.00
Class A Interest Rate 6.79% 0.00%
30/360* Class A Interest Rate 0.57% 0.00%
Current Class A Interest Distribution 620,259.64 0.00
Prior Class A Interest Arrearage 0.00 0.00
Class A Interest Due 620,259.64 0.00
Class A Principal Schedule Series 1996-1 Series 1996-2
- -------------------------- ------------- -------------
Opening Class A Principal Balance 109,618,786.94 0.00
Prior Months Series ADCB 123,057,617.79 0.00
Current Months Series ADCB 119,932,034.53 0.00
Difference 3,125,583.26 0.00
Class A Share 92.00% 0.00%
Scheduled Principal Due 2,875,536.60 0.00
Current Prepayments 713,873.58 0.00
Current Defaults 543,102.38 0.00
Class A Total Due 4,132,512.56 0.00
Prior Class A Arrearage 0.00 0.00
Class A Principal Due 4,132,512.56 0.00
Class A Principal Distribution 4,132,512.56 0.00
Current Class A Arrearage 0.00 0.00
Interim Class A Principal Balance after
Current Distribution 105,486,274.38 0.00
Accelerated Class A Distribution Amount 0.00 0.00
Ending Class A Principal Balance after
Current Distribution 105,486,274.38 0.00
Class B Interest Schedule Series 1996-1 Series 1996-2
- ------------------------- ------------- -------------
Opening Class B Principal Balance 4,922,305 0.00
Class B Interest Rate 7.53% 0.00%
30/360* Class B Interest Rate 0.63% 0.00%
Current Class B Interest Distribution 30,887.46 0.00
Prior Class B Interest Arrearage 0.00 0.00
Class B Interest Due 30,887.46 0.00
Opening Class B Principal Balance 4,922,304.56 0.00
Prior Months Series ADCB 123,057,617.79 0.00
Current Months Series ADCB 119,932,034.53 0.00
-------------- ----
Difference 3,125,583.26 0.00
Class B Share 4.00% 0.00%
Scheduled Principal Due 125,023.33 0.00
Current Prepayments 0.00 0.00
Current Defaults 0.00 0.00
Class B Total Due 125,023.33 0.00
Prior Class B Arrearage 0.00 0.00
Class B Principal Due 125,023.33 0.00
Class B Principal Distribution 125,023.33 0.00
Current Class B Arrearage 0.00 0.00
Interim Class B Principal Balance after
Current Distribution 4,797,281.23 0.00
Accelerated Class B Disribution Amount 0.00 0.00
Ending Class B Principal Balance after
Current Distribution 4,797,281.23 0.00
Class C Interest Schedule
Opening Class C Principal Balance 4,922,304.56 0.00
Class C Interest Rate 9.05% 0.00%
30/360* Class C Interest Rate 0.75% 0.00%
Current Class C Interest Distribution 37,122.38 0.00
Prior Class C Interest Arrearage 0.00 0.00
Class C Default Rate 10.05%
30/360* Class C Interest Default Rate 0.84%
Interest on Interest Arrearage 0.00
Class C Interest Due 37,122.38 0.00
Class C Interest Paid 37,122.38 0.00
Class C Interest Arrearage 0.00 0.00
Class C Principal Schedule
Opening Class C Principal Balance 4,922,304.56 0.00
Prior Months Series ADCB 123,057,617.79 0.00
Current Months Series ADCB 119,932,034.53 0.00
-------------- ----
Difference 3,125,583.26 0.00
Class C Share 4.00% 0.00%
Scheduled Principal Due 125,023.33 0.00
Prior Class C Arrearage 0.00 0.00
Class C Principal Due 125,023.33 0.00
Class C Principal Distribution 125,023.33 0.00
Current Class C Arrearage 0.00 0.00
Interim Class C Principal Balance
after Current Distribution 4,797,281.23 0.00
Accelerated Class C Distribution Amount 0.00 0.00
Ending Class C Principal Balance after
Current Distribution 4,797,281.23 0.00
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Schedules
Servicing Fee Schedule
Contract Pool ADCB 123,057,617.79 0.00
Servicing Rate 0.60% 0.60%
Monthly Servicing Rate 0.05% 0.05%
Prior Servicing Fee Arrearage 0.00 0.00
Current Servicer Fee 61,528.81 0.00
Servicer Fee Due 61,528.81 0.00
Current Servicing Fee Arrearage 0.00 0.00
Reserve Account Schedule Series 1995-1 Series 1996-1
- ------------------------ ------------- -------------
Prior Month Balance 1,230,576.18 0.00
Series ADCB 119,932,034.53 0.00
Required Balance (Series ADCB * 1.00%) 1,199,320.35 0.00
Deposit/(Release) from Reserve Account (31,255.83) 0.00
Ending Reserve Account Balance 1,199,320.35 0.00
------------ ----
</TABLE>
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Restricting Events
Restricting Event Calculations
(1) Event of Default under the Servicing Agreement (Yes/No) no
(a) ADCB Delinquencies
3 Month Rolling Avg. ADCB 122,229,713
Delinquency Ratio 0.62%
Maximum Delinquency Ratio 2.00%
(b) Annualized ADCB Defaulted Contracts Ratio 0.36%
Maximum Default Ratio 1.00%
(c) Reserve plus APB Subordination no
(d) Reserving Event under any Indenture no
Portfolio Performance Tests
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C>
1 month prior 2 months prior 3 months prior 4 months prior 5 months prior
Current (yes/no) (yes/no) (yes/no) (yes/no) (yes/no)
Event of Default no no no no no no
</TABLE>
Monthly Weighted
Delinquencies Delinquencies ADCB Delinquency Average
0
2 months prior 841,986 125,141,905 0.67% 0.23%
1 month prior 740,468 122,329,074 0.61% 0.20%
Current 708,654 119,218,161 0.59% 0.19%
----- -----
0.62% 0.62%
Delinquency Ratio: 0.62%
Maximum Delinquency Ratio: 2.00%
Monthly
Charge-Offs Charge-Offs ADCB Defaults
0
5 months prior 0 0 0.00%
4 months prior 0 0 0.00%
3 months prior 34,687 127,357,194 0.03%
2 months prior 50,037 125,141,905 0.04%
1 month prior 7,340 122,329,074 0.01%
Current 56,833 119,218,161 0.05%
------- ----------- -----
148,897 494,046,334 0.02%
Average ADCB 82,341,056
Annualized Maximum Charge-Off Ratio: 1.00%
1% of Average ADCB 823,411
Sum of Charge-Offs* 2 297,793
Annualized Charge-Off Ratio: 0.36%
Enhancement Floor
0
Enhancement Floor 2,925,889
Amounts on deposit in the Reserve Account 1,199,320
ADCB less Agregate Principal Amount
of Class A Notes 13,731,887
14,931,207
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Certificate Schedules
Certificate Factors
Series 1996-1 Series 1996-2
Class A
Current A Balance 105,486,274 0
Initial A Balance 119,656,814 0
Certificate Factor: 0.8815734838 0
Class B
Current B Balance 4,797,281 0
Initial B Balance 5,202,470 0
Certificate Factor: 0.9221160775 0
Class C
Current C Balance 4,797,281 0
Initial C Balance 5,202,470 0
Certificate Factor: 0.9221160775 0
Delinquencies
Monthly
Delinquencies ADCB Delinquencies
------------- ---- -------------
Current 113,080,094 119,218,161 94.85%
31-60 Days Past Due 5,429,413 119,218,161 4.55%
61-90 Days Past Due 708,654 119,218,161 0.59%
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