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Previous: AAVID THERMAL TECHNOLOGIES INC, SC 13G/A, 1997-05-21 |
Next: SEI ASSET ALLOCATION TRUST, 24F-2NT, 1997-05-21 |
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):
May 20, 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 Employer
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 April 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: May 21, 1997
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Apr-97
<S> <S>
Section 5.2 Class A Class B Class C Class D Total
(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 2,784,250.00 495,833.33 255,260.42 3,535,343.75
(iv) Principal Collections 26,092,231.84 4,407,471.60 2,518,555.19 2,234,403.65 35,252,662.28
(v) Finance Charge Collections 11,026,358.13 1,862,560.48 1,064,320.29 944,124.83 14,897,363.73
Recoveries 75,647.17 12,778.24 7,301.85 6,498.65 102,225.91
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 11,102,005.30 1,875,338.72 1,071,622.14 950,623.48 14,999,589.64
Total Collections 37,194,237.14 6,282,810.32 3,590,177.33 3,185,027.13 50,252,251.92
(vi) Aggregate Amount of Principal Receivables 1,667,651,967.63
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 31.0616370% 5.2468981% 2.9982275% 2.6684225% 41.9751851%
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 699,851,010.41
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 87.42% 1,561,981,349.92
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 6.37% 113,854,566.66
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.08% 37,079,757.99
90 Days and Over (60+ Days Contractually Delinquent) 4.13% 73,778,249.80
Total Receivables 100.00% 1,786,693,924.37
(viii) Aggregate Investor Default Amount 5,887,015.08
As a % of Average Daily Invested Amount 10.23%
(Annualized based on 365 days/year)
(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 1,150,684.93
(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
(xiv) Class C Trigger Event Occurrence None
Class C Reserve Amount N/A
Amount on Deposit in Class C Reserve Account 0.00
(xv) Number of New Accounts Added to the Trust 0
(xvi) Aggregrate Interest Rate Caps Notional Amount 513,000,000.00
Deposit to Caps Proceeds Amount 0.00
Average Net Portfolio Yield 15.8419%
Minimum Base Rate 8.4738%
</TABLE>
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