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Previous: CONNECTIVE THERAPEUTICS INC, 10-Q/A, 1996-09-25 |
Next: ML JWH STRATEGIC ALLOCATION FUND LP, 424B3, 1996-09-25 |
[LETTERHEAD OF THE CHASE MANHATTAN BANK]
September 25, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Chemical Master Credit Card Trust I
(Series1995-1, Series 1995-2, Series 1995-3, Series
1995-4, Series 1996-1, Series 1996-2 and
Series 1996-3)
Ladies and Gentlemen:
I am sending for filing on behalf of the above-referenced issuer and in
connection with the above-referenced securities a Current Report on Form 8-K
dated September 25, 1996.
Please confirm your receipt of such transmittal.
Very truly yours,
/s/Martin R. Joyce
------------------
Martin R. Joyce
Enclosures
<PAGE>
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: September 25, 1996
CHEMICAL MASTER CREDIT CARD TRUST I
(SERIES 1995-1, 1995-2, 1995-3, 1995-4, 1996-1, 1996-2
and Series 1996-3)
(Issuer of Securities)
THE CHASE MANHATTAN BANK (formerly known as 'Chemical Bank')
(Sponsor of the Trust)
(Exact name of registrant as
specified in its charter)
New York 33-94190 13-4994650
-------- -------- ----------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
270 Park Avenue, New York 10017
(Address of principal executive offices) Zip Code)
Registrant's telephone number, including area code: (212) 270-6000
<PAGE>
Item 5. Other Events.
On or about September 15, 1996 (or, in the case of Series 1995-4, on or
about September 25, 1996), Monthly Interest as defined in the Pooling and
Servicing Agreement dated as of October 19, 1995 (the "Agreement") between
The Chase Manhattan Bank (formerly known as 'Chemical Bank') and The Bank of
New York, as trustee (the "Trustee"), was distributed to holders
("Certificateholders") of participations in the Chemical Master Credit
Card Trust I for Series 1995-1, 1995-2, 1995-3, 1995-4, 1996-1, 1996-2
and 1996-3 in accordance with the Agreement. A copy of the applicable
Monthly Report for the month ended July 31, 1996, as defined in the
Agreement, has been furnished to each Certificateholder in accordance with
the Agreement. Copies of those Monthly Reports are being filed as
Exhibit 20.1 to this Current Report on Form 8-K.
Item 7(c). Exhibits.
Exhibit No. Description
---------- -----------
20.1 Monthly Reports for the month ended
July 31, 1996 for Series 1995-1,
Series 1995-2, Series 1995-3,
Series 1995-4, Series 1996-1,
Series 1996-2 and Series 1996-3
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: September 25, 1996
THE CHASE MANHATTAN BANK
As Servicer
By: /s/Richard L. Craig
Name: Richard L. Craig
Title: Managing Director
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
----------- -----------
20.1 Monthly Reports for the month ended
July 31, 1996 for Series 1995-1,
Series 1995-2, Series 1995-3,
Series 1995-4, Series 1996-1,
Series 1996-2 and Series 1996-3
<PAGE>
<TABLE>
<CAPTION>
Exhibit 20.1
Chemical Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chemical Master Credit Card Trust I
Series 1995-1
Section 5.2 - Supplement Class A Class B Collateral Total
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 3,694,586.67 314,548.89 412,277.14 4,421,412.70
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 70,730,787.55 5,894,232.30 7,578,298.67 84,203,318.52
(iv) Collections of Finance Charge 11,271,328.80 939,277.40 1,207,642.37 13,418,248.58
Receivables
(v) Aggregate Amount of Principal 10,509,750,726.08
Receivables
Investor Interest 750,000,000.00 62,500,000.00 80,357,142.86 892,857,142.86
Adjusted Interest 750,000,000.00 62,500,000.00 80,357,142.86 892,857,142.86
Series
Floating Investor Percentage 8.50% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 8.50% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
Total Receivables 100.00%
(vii) Investor Default Amount 3,751,076.60 312,589.72 401,901.06 4,465,567.38
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor 0.00 0.00 0.00
Charge-Offs/Reductions
(x) Servicing Fee 625,000.00 52,083.33 66,964.29 744,047.62
(xi) Portfolio Yield (Net of Defaulted 12.44%
Receivables)
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A 750,000,000.00 62,500,000.00 80,357,142.86 892,857,142.86
Adjusted)
(xiv) LIBOR 5.4219%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
===============
(xix) Available Funds 10,646,328.80 887,194.07 1,140,678.09 12,674,200.96
(xx) Certificate Rate 5.5419% 5.6619% 5.7719%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Chemical Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chemical Master Credit Card I
Series 1995-2
Section 5.2 - Supplement Class A Class B Collateral Total
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 3,115,000.00 181,245.17 246,993.55 3,543,238.72
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 56,584,630.04 3,214,950.06 4,501,135.85 64,300,715.96
(iv) Collections of Finance Charge Receivables 9,017,063.04 512,319.47 717,280.04 10,246,662.55
(v) Aggregate Amount of Principal Receivables 10,509,750,726.08
Investor Interest 600,000,000.00 34,090,000.00 47,728,181.82 681,818,181.82
Adjusted Interest 600,000,000.00 34,090,000.00 47,728,181.82 681,818,181.82
Series
Floating Investor Percentage 6.49% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 6.49% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total
Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
------
Total Receivables 100.00%
(vii) Investor Default Amount 3,000,861.28 170,498.93 238,709.42 3,410,069.63
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 500,000.00 28,408.33 39,773.48 568,181.82
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.44%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 600,000,000.00 34,090,000.00 47,728,181.82 681,818,181.82
(xiv) LIBOR 5.4219%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
===============
(xix) Available Funds 8,517,063.04 483,911.13 677,506.56 9,678,480.73
(xx) Certificate Rate 6.2300% 6.3800% 5.8219%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Chemical Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chemical Master Credit Card
Trust I
Series 1995-3
Section 5.2 - Supplement Class A Class B Collateral Total
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 2,336,250.00 136,149.60 188,132.84 2,660,532.44
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 42,438,472.53 2,411,259.70 3,375,804.73 48,225,536.97
(iv) Collections of Finance Charge Receivables 6,762,797.28 384,247.11 537,952.52 7,684,996.91
(v) Aggregate Amount of Principal Receivables 10,509,750,726.08
Investor Interest 450,000,000.00 25,568,000.00 35,795,636.36 511,363,636.36
Adjusted Interest 450,000,000.00 25,568,000.00 35,795,636.36 511,363,636.36
Series
Floating Investor Percentage 4.87% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 4.87% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total
Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
-------
Total 100.00%
Receivables
(vii) Investor Default Amount 2,250,645.96 127,876.70 179,029.57 2,557,552.22
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 375,000.00 21,306.67 29,829.70 426,136.36
(xi) Portfolio Yield (Net of Defaulted 12.44%
Receivables)
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 450,000,000.00 25,568,000.00 35,795,636.36 511,363,636.36
(xiv) LIBOR 5.4219%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
==============
(xix) Available Funds 6,387,797.28 362,940.45 508,122.82 7,258,860.55
(xx) Certificate Rate 6.2300% 6.3900% 5.9469%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Chemical Bank - Retail Card Services Group Monthly
Report
Certificateholders' Statement Chemical Master Credit Card
Trust I
Series 1995-4
Section 5.2 - Supplement Class A Class B Collateral Total
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 0.00 0.00 175,674.47 175,674.47
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal 28,292,315.02 2,020,825.75 3,368,186.63 33,681,327.41
Receivables
(iv) Collections of Finance Charge Receivables 4,508,531.52 322,029.38 536,738.53 5,367,299.43
(v) Aggregate Amount of Principal Receivables 10,509,750,726.08
Investor Interest 300,000,000.00 21,428,000.00 35,714,857.14 357,142,857.14
Adjusted Interest 300,000,000.00 21,428,000.00 35,714,857.14 357,142,857.14
Series
Floating Investor Percentage 3.40% 84.00% 6.00% 10.00% 100.00%
Fixed Investor Percentage 3.40% 84.00% 6.00% 10.00% 100.00%
(vi) Receivables Delinquent (As % of Total
Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
--------
Total Receivables 100.00%
(vii) Investor Default Amount 1,500,430.64 107,170.76 178,625.55 1,786,226.95
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 250,000.00 17,856.67 29,762.38 297,619.05
(xi) Portfolio Yield (Net of Defaulted 12.44%
Receivables)
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest
(Class A Adjusted) 300,000,000.00 21,428,000.00 35,714,857.14 357,142,857.14
(xiv) LIBOR 5.4922%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
(xix) Interest Funding Account Investment Proceeds 0.00 0.00
============
(xx) Available Funds 4,258,531.52 304,172.71 506,976.15 5,069,680.38
(xxi) Certificate Rate 5.6922% 5.8122% 5.9313%
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Chemical Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chemical Master Credit Card
Trust I
Series 1996-1
Section 5.2 - Supplement Class A Class B Collateral Total
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 3,237,500.00 189,248.43 288,157.42 3,714,905.85
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 66,015,401.72 3,750,806.51 5,251,293.72 75,017,501.95
(iv) Collections of Finance Charge Receivables 10,519,906.88 597,711.05 836,821.70 11,954,439.64
(v) Aggregate Amount of Principal Receivables 10,509,750,726.08
Investor Interest 700,000,000.00 39,772,000.00 55,682,545.45 795,454,545.45
Adjusted Interest 700,000,000.00 39,772,000.00 55,682,545.45 795,454,545.45
Series
Floating Investor Percentage 7.57% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 7.57% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
--------
Total Receivables 100.00%
(vii) Investor Default Amount 3,501,004.82 198,917.09 278,492.66 3,978,414.57
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 583,333.33 33,143.33 46,402.12 662,878.79
(xi) Portfolio Yield (Net of Defaulted 12.44%
Receivables)
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A 700,000,000.00 39,772,000.00 55,682,545.45 795,454,545.45
Adjusted)
(xiv) LIBOR 5.4219%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall =============
(xix) Available Funds 9,936,573.55 564,567.72 790,419.58 11,291,560.85
(xx) Certificate Rate 5.5500% 5.7100% 5.8219%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Chemical Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chemical Master Credit Card
Trust I
Series 1996-2
Section 5.2 - Supplement Class A Class B Collateral Total
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(i) Monthly Interest Distributed 2,740,833.33 160,416.67 240,017.56 3,141,267.56
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 51,869,244.21 2,947,116.15 4,125,962.61 58,942,322.96
(iv) Collections of Finance Charge Receivables 8,265,641.12 469,638.70 657,494.18 9,392,774.00
(v) Aggregate Amount of Principal Receivables 10,509,750,726.08
Investor Interest 550,000,000.00 31,250,000.00 43,750,000.00 625,000,000.00
Adjusted Interest 550,000,000.00 31,250,000.00 43,750,000.00 625,000,000.00
Series
Floating Investor Percentage 5.95% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 5.95% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
------
Total Receivables 100.00%
(vii) Investor Default Amount 2,750,789.50 156,294.86 218,812.80 3,125,897.16
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 458,333.33 26,041.67 36,458.33 520,833.33
(xi) Portfolio Yield (Net of Defaulted 12.44%
Receivables)
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest
(Class A Adjusted) 550,000,000.00 31,250,000.00 43,750,000.00 625,000,000.00
(xiv) LIBOR 5.4219%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii)Principal Investment Funding Shortfall
============
(xix) Available Funds 7,807,307.79 443,597.03 621,035.85 8,871,940.67
(xx) Certificate Rate 5.9800% 6.1600% 6.1719%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Chemical Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chemical Master Credit Card Trust I
Series 1996-3
Section 5.2 - Supplement Class A Class B Collateral Total
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 2,434,132.89 141,813.47 179,793.40 2,755,739.76
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal 38,853,176.07 2,207,555.00 33,090,694.07 44,151,425.17
Receivables
(iv) Collections of Finance Charge Receivables 6,191,461.14 351,785.69 492,518.61 7,035,765.43
(v) Aggregate Amount of Principal Receivables 10,509,750,726.08
Investor Interest 411,983,000.00 23,408,000.00 32,772,440.86 468,163,440.86
Adjusted Interest 411,983,000.00 23,408,000.00 32,772,440.86 468,163,440.86
Series
Floating Investor Percentage 4.45% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 4.45% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total
Receivables)
Current 94.72%
30 to 59 days 1.79%
60 to 89 days 1.20%
90 or more days 2.29%
-------
Total Receivables 100.00%
(vii) Investor Default Amount 2,060,506.39 117,073.60 163,909.25 2,341,489.23
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 343,319.17 19,506.67 27,310.37 390,136.20
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.44%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 411,983,000.00 23,408,000.00 32,772,440.86 468,163,440.86
(xiv) LIBOR 5.4219%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
=============
(xix) Available Funds 5,848,141.97 332,279.02 465,208.24 6,645,629.23
(xx) Certificate Rate 7.0900% 7.2700% 6.1719%
</TABLE>
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