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) November 20, 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)
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
authorized.
NEWCOURT RECEIVABLES CORPORATION
DATED: November 21, 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
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NEWCOURT-TREASURY
Master
Trust October 1996
Newcourt Receivables Asset Trust Collection Reserve Distribution
Monthly Servicer Certificate - Accounts Account Account Account Series 1996-1 Series 1996-2
- --------------------------------------- ------- ------- ------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Beginning Account Balances 0.00 2,817,147.46 0.00
Investment Earnings 20,098.94 13,565.83
Collection Account
Collections [4.3 a] 10,715,042.74
Add: Servicer Advances [4.3 b] 0.00
Add: Liquidation Proceeds from 0.00
Servicer
Less: Collections to reimburse Servicer
Advances [4.3 c] (331,088.43)
Less: Investment Earnings to (20,098.94) (13,565.83)
Newcourt [4.2 e]
Available Amount (10,383,954.31) 10,383,954.31
- ----------------
Payments on Payment Date
(A) Unreimbursed Servicer Advances 0.00 0.00
[4.3 d i]
(B) Servicing Fee [4.3 d ii] (140,857.37) 140,857.37
(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] 10,243,096.94 4,200,224.62 6,042,872.32
(1) Class A Interest [4.3 div A] (1,472,970.46) 539,537.54 933,432.92
(2) Class B Interest [4.3 div B] (73,216.90) 28,033.03 45,183.87
(3) Class A Principal [4.3 div C] (8,150,804.19) 4,210,043.47 3,940,760.72
(4) Deposit Reserve Account
[4.3 d iv D] 0.00 0.00 0.00 0.00
Repayment Newcourt Advance 0.00 (86,079.67)
(5) Class C Interest [4.3 div E] (88,943.11) 33,691.75 55,251.36
(6) Class B Principal [4.3 div F] (228,581.14) 135,602.12 92,979.02
(7) Class C Principal [4.3 div G] (228,581.14) 135,602.12 92,979.02
(8) Class A Accelerated 0.00 0.00 0.00
Principal Payment [4.3 d iv H]
(9) Class B Accelerated 0.00 0.00 0.00
Principal Payment [4.3 d iv I]
(10) Pay to Hedging 0.00 0.00 0.00
Counterparty [4.3 d iv J]
(11) Class C Accelerated 0.00 0.00 0.00
Principal Payment [4.3 d iv K
Subtotal (0.00)
Distributions to Noteholders (10,383,954.31) 140,857.37 5,082,510.03 5,160,586.91
Ending Balance 0.00 2,731,067.79 0.00
NEWCOURT-TREASURY
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Schedules
Prior Month's Series ADCB Reconciliation October 1996
Series 1996-1 Series 1996-2
<S> <C> <C>
Previous Period Current MonthSeries ADCB 105,104,776.95 178,702,443.24
Less: Previous Period's Prepayments 499,487.30 804,576.60
Less: Previous Period's Defaults 317,728.77 470,682.01
Prior Month Series ADCB
(reported this period) 104,287,560.88 177,427,184.63
Class A Interest Schedule Series 1996-1 Series 1996-2
Opening Class A Principal Balance 95,352,731.61 163,045,052.34
Class A Interest Rate 6.79% 6.87%
30/360*Class A Interest Rate 0.57% 0.57%
Current Class A Interest
Distribution 539,537.54 933,432.92
Prior Class A Interest Arrearage 0.00 0.00
Class A Interest Due 539,537.43 933,432.92
Class A Principal Schedule Series 1996-1 Series 1996-2
Opening Class A Principal Balance 95,352,731.61 163,045,052.34
Prior Months Series ADCB 104,287,560.88 177,427,184.63
Current Months Series ADCB 100,897,507.99 175,102,709.16
-------------- --------------
Difference 3,390,052.89 2,324,475.47
Class A Share 92.00% 92.00%
Scheduled Principal Due 3,118,848.66 2,138,517.43
Current Prepayments 733,825.95 1,220,181.02
Current Defaults 357,368.86 582,062.27
Class A Total Due 4,210,043.47 3,940,760.72
Prior Class A Arrearage 0.00 0.00
Class A Principal Due 4,210,043.47 3,940,760.72
Class A Principal Distribution 4,210,043.47 3,940,760.72
Current Class A Arrearage 0.00 0.00
Interim Class A Principal
Balance after Current Distribution 91,142,688.14 159,104,291.62
Accelerated Class A
Distribution Amount 0.00 0.00
Ending Class A Principal
Balance after Current Distribution 91,142,688.14 159,104,291.62
Class B Interest Schedule Series 1996-1 Series 1996-2
Opening Class B Principal Balance 4,467,414.48 7,191,066.09
Class B Interest Rate 7.53% 7.54%
30/360*Class B Interest Rate 0.63% 0.63%
Current Class B Interest Distribution 28,033.03 45,183.87
Prior Class B Interest Arrearage 0.00 0.00
Class B Interest Due 28,033.03 45,183.87
Class B Principal Schedule Series 1996-1 Series 1996-2
Opening Class B Principal Balance 4,467,414.48 7,191,066.09
Prior Months Series ADCB 104,287,560.88 177,427,184.63
Current Months Series ADCB 100,897,507.99 175,102,709.16
-------------- --------------
Difference 3,390,052.89 2,324,475.47
Class B Share 4.00% 4.00%
Scheduled Principal Due 135,602.12 92,979.02
Current Prepayments 0.00 0.00
Current Defaults 0.00 0.00
Class B Total Due 135,602.12 92,979.02
Prior Class B Arrearage 0.00 0.00
Class B Principal Due 135,602.12 92,979.02
Class B Principal Distribution 135,602.12 92,979.02
Current Class B Arrearage 0.00 0.00
Interim Class B Principal
Balance after Current Distribution 4,331,812.36 7,098,087.07
Accelerated Class B
Distribution Amount 0.00 0.00
Ending Class B Principal
Balance after Current Distribution 4,331,812.36 7,098,087.07
Class C Interest Schedule
Opening Class C Principal Balance 4,467,414.48 7,191,066.09
Class C Interest Rate 9.05% 9.22%
30/360*Class C Interest Rate 0.75% 0.77%
Current Class C Interest Distribution 33,691.75 55,251.36
Prior Class C Interest Arrearage 0.00 0.00
Class C Default Rate 10.05% 10.22%
30/360*Class C Interest Default Rate 0.84% 0.85%
Interest on Interest Arrearage 0.00 0.00
Class C Interest Due 33,691.75 55,251.36
Class C Interest Paid 33,691.75 55,251.36
Class C Interest Arrearage 0.00 0.00
Class C Principal Schedule
Opening Class C Principal Balance 4,467,414.48 7,191,066.09
Prior Months Series ADCB 104,287,560.88 177,427,184.63
Current Months Series ADCB 100,897,507.99 175,102,709.16
-------------- --------------
Difference 3,390,052.89 2,324,475.47
Class C Share 4.00% 4.00%
Scheduled Principal Due 135,602.12 92,979.02
Prior Class C Arrearage 0.00 0.00
Class C Principal Due 135,602.12 92,979.02
Class C Principal Distribution 135,602.12 92,979.02
Current Class C Arrearage 0.00 0.00
Interim Class C Principal
Balance after Current Distribution 4,331,812.36 7,098,087.07
Accelerated Class C Distribution Amount 0.00 0.00
Ending Class C Principal
Balance after Current Distribution 4,331,812.36 7,098,087.07
Servicing Fee Schedule
<S> <C> <C> <C>
Contract Pool ADCB 281,714,745.51
Servicing Rate 0.60%
Monthly Servicing Rate 0.05%
Prior Servicing Fee Arrearage 0.00
Current Servicer Fee 140,857.37
Servicer Fee Due 140,857.37
Current Servicing Fee Arrearage 0.00
Reserve Account Schedule Reserve Account Series 1996-1 Series 1996-2
Prior Month Balance 2,817,147.46
Series ADCB 273,106,779.05
Required Balance (Series ADCB * 1.00%) 2,731,067.79
Current Period Draw on Reserve 0.00
Required Deposit to Reserve Account 0.00 0.00
Actual Deposit to Reserve Account 0.00 0.00
Newcourt Advance Released from Reserve Account (86,079.67)
Ending Reserve Account Balance 2,731,067.79
NEWCOURT-TREASURY
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Restricting Events October 1996
Restricting Event Calculations
(1) Event of Default under the
Servicing Agreement (Yes/No) no
(a) ADCB Delinquencies
3 Month Rolling Avg. ADCB 281,270,196
Delinquency Ratio 0.65%
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) Restricting Event under any Indenture no
Portfolio Performance Tests
<S> <C> <C> <C> <C> <C> <C>
1 month 2 months 3 months 4 months 5 months
prior prior prior prior prior
Current: (yes/no) (yes/no) (yes/no) (yes/no) (yes/no)
Event of Default: no no no no no no
Monthly Weighted
Delinquencies Delinquencies ADCB Delinquency Average
0
<S> <C> <C> <C> <C> <C>
2 months prior 1,495,513 288,989,064 0.52% 0.18%
1 month prior 1,978,633 281,714,746 0.70% 0.23%
Current 1,988,977 273,106,779 0.73% 0.24%
---- ----
0.65% 0.65%
Delinquency Ratio: 0.65%
Maximum Delinquency Ratio: 2.00%
Monthly
Charge-Offs Charge-Offs ADCB Defaults
----------- ---- --------
0
5 months prior 7,340 121,604,525 0.01%
4 months prior 56,833 115,777,793 0.05%
3 months prior 27,072 111,267,022 0.02%
2 months prior 33,884 288,989,064 0.01%
1 month prior 125,114 281,714,746 0.04%
Current 112,060 273,106,779 0.04%
------- ----------- ----
362,303 1,192,459,928 0.03%
Average ADCB 198,743,321
Annualized Maximum Charge-Off Ratio: 1.00%
1% of Average ADCB 1,987,433
Sum of Charge-Offs * 2 724,606
Annualized Charge-Off Ratio: 0.36%
Series 1996-1 Enhancement Floor
0
Enhancement Floor 2,925,889
Amounts on deposit in the Reserve Account 2,731,068
Series Allocation Percentage 41.01%
ADCB less Aggregate Principal Amount of
Class A Notes 7,572,430
---------
8,692,316
Series 1996-2 Enhancement Floor
0
Enhancement Floor 4,152,983
Amounts on deposit in the Reserve Account 2,731,068
Series Allocation Percentage 58.99%
ADCB less Aggregate Principal Amount of
Class A Notes 14,196,174
----------
15,807,356
Newcourt Receivables Asset Trust
Monthly Servicer Certificate - Certificate Schedule October 1996
CERTIFICATE FACTORS
Series Series
1996-1 1996-2
Class A
Current A Balance 91,142,688 159,104,292
Initial A Balance 119,656,814 169,810,862
Certificate Factor: 0.7617007765 0.9369500253
Class B
Current B Balance 4,331,812 7,098,087
Initial B Balance 5,202,470 7,383,081
Certificate Factor: 0.8326453319 0.9613990560
Class C
Current C Balance 4,331,812 7,098,087
Initial C Balance 5,202,470 7,383,081
Certificate Factor: 0.8326453319 0.9613990560
DELINQUENCIES
Delinquencies ADCB Monthly
Delinquencies
Current 259,619,263 273,106,779 95.06%
31-60 Days Past Due 11,498,540 273,106,779 4.21%
61-90 Days Past Due 1,988,977 273,106,779 0.73%
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