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Previous: HANCOCK JOHN VARIABLE ANNUITY ACCOUNT JF, 485BPOS, 1997-04-23 |
Next: CHASE MANHATTAN GRANTOR TRUST 1996-A, 8-K, 1997-04-23 |
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):
April 21, 1997
METRIS MASTER TRUST
METRIS RECEIVABLES, INC.
(Originator of the Metris Master Trust)
(Exact name of registrant as specified in its charter)
Delaware 033-99514 41-1810301
(State of Incorporation) (Commission File Number) (IRS Employerer
Identification No.)
4400 Baker Road, Suite F470, Minnetonka, Minnesota 55343
(Address of principal executive offices)
(612) 936-5077
(Registrant's telephone number, including area code)
METRIS RECEIVABLES, INC.
Current Report on Form 8-K
Item 7. Financial Statements and Exhibits
Ex. 20 March Series 1996-1 Servicing Statement
SIGNATURE
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.
METRIS RECEIVABLES, INC.
By /s/Robert W. Oberrender
Robert W. Oberrender
President and Treasurer
Dated: April 21, 1997
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Mar-97
Section 5.2 Class A Class B Class C Class D Total
<S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 273,333.33 3,553,416.66
(iv) Principal Collections 28,339,558.30 4,787,087.54 2,735,478.59 2,430,664.92 38,292,789.35
(v) Finance Charge Collections 11,578,850.21 1,955,886.87 1,117,649.63 993,161.30 15,645,548.01
Recoveries 79,649.49 13,454.31 7,688.17 6,842.48 107,634.45
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 11,658,499.70 1,969,341.18 1,125,337.80 1,000,003.78 15,753,182.46
Total Collections 39,998,058.00 6,756,428.72 3,860,816.39 3,430,668.70 54,045,971.81
(vi) Aggregate Amount of Principal Receivables 1,704,778,189.46
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 30.3851846% 5.1326325% 2.9329329% 2.6103103% 41.0610603%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,940,511.01
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 86.54% 1,522,618,214.30
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 7.33% 128,984,089.93
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.10% 36,984,809.50
90 Days and Over (60+ Days Contractually Delinquent) 4.03% 70,939,190.98
Total Receivables 100.00% 1,759,526,304.71
(viii) Aggregate Investor Default Amount 5,417,286.54
As a % of Average Daily Invested Amount
(Annualized based on 365 days/year) 9.11%
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,189,041.10
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 17.3867%
Minimum Base Rate 8.4738%
</TABLE>
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