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
July 19, 1996
-------------------------------
(Date of earliest event reported)
BANK OF AMERICA NATIONAL ASSOCIATION
------------------------------------
(Exact name of registrant as specified in its charter)
U.S.A. 333-4152 86-0645265
- --------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
1825 East Buckeye Road
Phoenix, Arizona 85034
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(602) 597-3738
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Items 1-4. Not Applicable.
Item 5. Not Applicable.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits
20.1, 20.2, 20.3, 20.4, 20.5, 20.6.
Exhibit 20.1 Monthly Payment Instructions and Notification to the
Trustee, dated as of September 30, 1996
Exhibit 20.2 Monthly Series 1996-A Certificateholders' Statement,
dated as of September 30, 1996
Exhibit 20.3 Schedule to Monthly Servicer's Certificate, dated as
of September 30, 1996
Exhibit 20.4 Monthly Servicer's Certificate, dated as of
September 30, 1996
Exhibit 20.5 BA Master Credit Card Trust Series 1996-A, dated as
of September 30, 1996
Exhibit 20.6 BA Master Credit Card Trust Series 1996-A (Monthly
Payment Certificate), dated as of September 30, 1996
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
BANK OF AMERICA NATIONAL ASSOCIATION
Date: October 24, 1996
By: /s/ MARGARET A. SPRUDE
--------------------------------
Name: Margaret A. Sprude
Title: Senior Vice President
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Exhibit Description
- ------- -------------------
20.1 Monthly Payment Instructions and Notification to the Trustee,
dated as of September 30, 1996
20.2 Monthly Series 1996-A Certificateholders' Statement, dated as of
September 30, 1996
20.3 Schedule to Monthly Servicer's Certificate, dated as of
September 30, 1996
20.4 Monthly Servicer's Certificate, dated as of September 30, 1996
20.5 BA Master Credit Card Trust Series 1996-A, dated as of
September 30, 1996
20.6 BA Master Credit Card Trust Series 1996-A (Monthly Payment
Certificate), dated as of September 30, 1996
MONTHLY PAYMENT INSTRUCTIONS AND NOTIFICATION
TO THE TRUSTEE
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1996-A
MONTHLY PERIOD ENDING SEPTEMBER 30, 1996
------------------
Capitalized terms used in this notice have their respective meanings
set forth in the Pooling and Servicing Agreement. References herein to certain
sections and subsections are references to the respective sections and
subsections of the Pooling and Servicing Agreement as supplemented by the Series
1996-A Supplement. This notice is delivered pursuant to Section 4.09.
A. Bank of America is the Servicer under the Pooling and Servicing Agreement.
B. The undersigned is a Servicing Officer.
C. The date of this notice is on or before the related Transfer Date under
the Pooling and Servicing Agreement.
I. INSTRUCTION TO MAKE A WITHDRAWAL
Pursuant to Section 4.09, the Servicer does hereby instruct the
Trustee (i) to make withdrawals from the Finance Charge Account, the
Principal Account, and the Principal Funding Account on OCTOBER 11, 1996,
----------------
which date is a Transfer Date under the Pooling and Servicing Agreement, in
aggregate amounts set forth below in respect of the following amounts and
(ii) to apply the proceeds of such withdrawals in accordance with subsection
3 (a) of the Series 1996-A Supplement and Section 4.09 of the Pooling and
Servicing Agreement:
A. Pursuant to subsection 3 (a) of the Series 1996-A Supplement:
1. Servicer Interchange.......................$ 416,666.67
------------------
B. Pursuant to subsection 4.09 (a) (i):
1. Class A Monthly Interest at the Class A
Certificate Rate on the Class A Investor
Interest...................................$ 1,940,177.76
------------------
2. Class A Deficiency Amount..................$ 0.00
-------------------
3. Class A Additional Interest................$ 0.00
------------------
C. Pursuant to subsection 4.09 (a) (ii):
1. Class A Servicing Fee......................$ 356,250.00
------------------
2. Accrued and unpaid Class A Servicing Fee...$ 0.00
------------------
D. Pursuant to subsection 4.09 (a) (iii):
1. Class A Investor Default Amount............$ 2,150,035.75
------------------
E. Pursuant to subsection 4.09 (a) (iv):
1. Portion of Excess Spread from Class A
Available Funds to be allocated and
distributed as provided in Section 4.11....$ 1,893,802.43
------------------
F. Pursuant to subsection 4.09 (b) (i):
1. Class B Monthly Interest at the Class B
Certificate Rate on the Class B Investor
Interest...................................$ 151,687.78
------------------
2. Class B Deficiency Amount..................$ 0.00
------------------
3. Class B Additional Interest................$ 0.00
------------------
G. Pursuant to subsection 4.09 (b) (ii):
1. Class B Servicing Fee......................$ 27,083.33
------------------
2. Accrued and unpaid Class B Servicing Fee...$ 0.00
------------------
H. Pursuant to subsection 4.09 (b) (iii):
1. Portion of Excess Spread from Class B
Available Funds to be allocated and
distributed as provided in Section 4.11....$ 303,237.40
------------------
I. Pursuant to subsection 4.09 (c) (i):
1. Collateral Interest Servicing Fee, if
applicable.................................$ N/A
------------------
2. Accrued and unpaid Collateral Interest
Servicing Fee, if applicable...............$ N/A
------------------
J. Pursuant to subsection 4.09 (c) (ii):
1. Portion of Excess Spread from Collateral
Available Funds to be allocated and
distributed as provided in Section 4.11..$ 593,241.28
------------------
Total......................................$ 7,832,182.40
==================
K. Pursuant to subsection 4.09 (d) (ii):
1. Amount to be treated as Shared Excess
Principal Collections......................$ 0.00
------------------
L. Pursuant to subsection 4.09 (d) (iii):
1. Amount to be paid to the Holder of the
Transferor Certificate.....................$ 65,573,153.52
------------------
2. Unallocated Principal Collections..........$ 0.00
------------------
M. Pursuant to subsection 4.09 (e) (i):
1. Class A Monthly Principal..................$ 0.00
------------------
N. Pursuant to subsection 4.09 (e) (ii):
1. Class B Monthly Principal..................$ 0.00
------------------
O. Pursuant to subsection 4.09 (e) (iii)
1. Collateral Monthly Principal to be applied
in accordance with the Loan Agreement......$ 0.00
------------------
P. Pursuant to subsection 4.09 (e) (iv):
1. Amount to be treated as Shared Excess
Principal Collections......................$ 0.00
------------------
Q. Pursuant to subsection 4.09 (e) (v):
1. Amount to be paid to the Holder of the
Transferor Certificate.....................$ 0.00
------------------
2. Unallocated Principal Collections..........$ 0.00
------------------
Total...........................$ 0.00
==================
R. Pursuant to subsection 4.09 (f):
1. Amount to be withdrawn from the Principal
Funding Account and deposited into the
Distribution Account $ 0.00
------------------
S. Pursuant to Section 4.13:
1. Amount of Shared Excess Finance Charge
Collections to be withdrawn from the
Finance Charge account to be allocated to
Series 1996-A and distributed as provided
in Section 4.11 $ 0.00
------------------
II. INSTRUCTION TO MAKE CERTAIN PAYMENTS
Pursuant to Section 4.09, the Servicer does hereby instruct the
Trustee to pay in accordance with Section 5.01 from the Distribution Account on
OCTOBER 15, 1996, which date is a Distribution Date under the Pooling and
- ------------------
Servicing Agreement, amounts so deposited in the Distribution Account pursuant
to Section 4.09 as set forth below:
A. Pursuant to subsection 4.09 (g):
1. Amount to be distributed to Class A
Certificateholders.........................$ 1,940,177.76
------------------
2. Amount to be distributed to Class B
Certificateholders.........................$ 151,687.78
------------------
B. Pursuant to subsection 4.09 (h) (i):
1. Amount to be distributed to Class A
Certificateholders.........................$ 0.00
------------------
C. Pursuant to subsection 4.09 (h) (ii):
1. Amount to be distributed to the Class B
Certificateholders.........................$ 0.00
------------------
III. APPLICATION OF EXCESS SPREAD
Pursuant to Section 4.11, the Servicer does hereby instruct the
Trustee to apply the Excess Spread with respect to the related Monthly Period
and to make the following distributions in the following priority:
A. The amount equal to the Class A Required Amount,
if any, which will be used to fund the Class A
Required Amount and be applied in accordance
with, and in the priority set forth in,
subsection 4.09 (a)..............................$ 0.00
------------------
B. The amount equal to the aggregate amount of
Class A Investor Charge Offs which have not been
previously reimbursed (after giving effect to
the allocation on such Transfer Date of certain
other amounts applied for that purpose) which
will be treated as a portion of Investor
Principal Collections and deposited into the
Principal Account on such Transfer Date..........$ 0.00
------------------
C. The amount equal to the Class B Required
Amount, if any, which will be used to fund the
Class B Required Amount and be applied first
in accordance with, and in the priority set
forth in, subsection 4.09(b) and then any
amount available to pay the Class B Investor
Default Amount shall be treated as a portion
of Investor Principal Collections and
deposited into the Principal Account.............$ 163,453.01
------------------
D. The amount equal to the aggregate amount by
which the Class B Investor Interest has been
reduced below the initial Class B Investor
Interest for reasons other than the payment of
principal to the Class B Certificateholders
(but not in excess of the aggregate amount of
such reductions which have not been previously
reimbursed) which will be treated as a portion
of Investor Principal Collections and
deposited into the Principal Account.............$ 0.00
------------------
E. The amount equal to the Collateral Monthly
Interest plus the amount of any past due
Collateral Monthly Interest which will be paid
to the Collateral Interest Holder for
application in accordance with the Loan
Agreement........................................$ 190,237.10
------------------
F. The amount equal to the aggregate amount of
accrued but unpaid Collateral Interest
Servicing Fees which will be paid to the
Servicer if the Transferor or an Acceptable
Successor Servicer is the Servicer...............$ 33,333.34
------------------
G. The amount equal to the Collateral Default
Amount, if any, for the prior Monthly Period
which will be treated as a portion of Investor
Principal Collections and deposited into the
Principal Account................................$ 201,172.94
------------------
H. The amount equal to the aggregate amount by
which the Collateral Interest has been reduced
below the Required Collateral Interest for
reasons other than the payment of principal to
the Collateral Interest Holder (but not in
excess of the aggregate amount of such
reductions which have not been previously
reimbursed) which will be treated as a portion
of Investor Principal Collections and
deposited into the Principal Account.............$ 0.00
------------------
I. On each Transfer Date from and after the Reserve
Account Funding Date, but prior to the date on
which the Reserve Account terminates as
described in subsection 4.16 (f), the amount up
to the excess, if any, of the Required Reserve
Account Amount over the Available Reserve
Account Amount which shall be deposited into the
Reserve Account..................................$ 0.00
------------------
J. The balance, if any, after giving effect to the
payments made pursuant to subparagraphs (a)
through (i) above which shall be deposited into
the Distribution Account and applied in
accordance with the provisions of the Loan
Agreement........................................$ 2,202,084.72
------------------
IV. REALLOCATED PRINCIPAL COLLECTIONS
Pursuant to Section 4.12, the Servicer does hereby instruct the
Trustee to withdraw from the Principal Account and apply Reallocated Principal
Collections pursuant to Section 4.12 with respect to the related Monthly Period
in the following amounts:
A. Reallocated Collateral Principal Receivables.....$ 0.00
------------------
B. Reallocated Class B Principal Receivables........$ 0.00
------------------
V. ACCRUED AND UNPAID AMOUNTS
After giving effect to the withdrawals and transfers to be made in
accordance with this notice, the following amounts will be accrued and unpaid
with respect to all Monthly Periods preceding the current calendar month.
A. Subsections 4.09 (a) (i) and (b) (i) :
(1) The aggregate amount of the Class A
Deficiency Amount.......................$ 0.00
------------------
(2) The aggregate amount of Class B Deficiency
Amount.....................................$ 0.00
------------------
B. Subsections 4.09 (a) (ii) and (b) (ii):
The aggregate amount of all accrued and unpaid
Investor Monthly Servicing Fees..................$ 0.00
------------------
C. Section 4.10:
The aggregate amount of all unreimbursed
Investor Charge Offs.............................$ 0.00
------------------
IN WITNESS WHEREOF, the undersigned has duly executed this certificate this
11th day of OCTOBER, 1996.
- ---- ---------------
BANK OF AMERICA NATIONAL
ASSOCIATION
Transferor and Servicer
BY: /s/ MARGARET A. SPRUDE
------------------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
MONTHLY SERIES 1996-A CERTIFICATEHOLDERS' STATEMENT
---------------------------------------------------
Series 1996-A
BANK OF AMERICA NATIONAL ASSOCIATION
- ------------------------------------------------------------------------------
BA MASTER CREDIT CARD TRUST
- ------------------------------------------------------------------------------
The information which is required to be prepared with respect to the
distribution date of OCTOBER 15, 1996, and with respect to the performance of
----------------
the Trust during the related Monthly Period.
Capitalized terms used in this Statement have their respective meanings
set forth in the Pooling and Servicing Agreement.
A. Information Regarding the Current Monthly Distribution (Stated on
-----------------------------------------------------------------
the Basis of $1,000 Original Certificate Principal Amount)
----------------------------------------------------------
1. The amount of the current monthly
distribution in respect of Class A Monthly
Principal..................................$ 0.00000
------------------
2. The amount of the current monthly
distribution in respect of Class B Monthly
Principal..................................$ 0.00000
------------------
3. The amount of the current monthly
distribution in respect of Collateral
Monthly Principal..........................$ 0.00000
------------------
4. The amount of the current monthly
distribution in respect of Class A
Monthly Interest...........................$ 4.53843
------------------
5. The amount of the current monthly
distribution in respect of Class A
Deficiency Amounts.........................$ 0.00000
------------------
6. The amount of the current monthly
distribution in respect of Class A
Additional Interest........................$ 0.00000
------------------
7. The amount of the current monthly
distribution in respect of Class B Monthly
Interest...................................$ 4.66732
------------------
8. The amount of the current monthly
distribution in respect of Class B
Deficiency Amounts.........................$ 0.00000
------------------
9. The amount of the current monthly
distribution in respect of Class B
Additional Interest........................$ 0.00000
------------------
10. The amount of the current monthly
distribution in respect of Collateral
Monthly Interest...........................$ 4.75593
------------------
11. The amount of the current monthly
distribution in respect of any accrued
and unpaid Collateral Monthly Interest.... $ 0.00000
------------------
B. Information Regarding the Performance of the Trust
--------------------------------------------------
1. Collection of Principal Receivables
-----------------------------------
(a) The aggregate amount of Collections
of Principal Receivables processed
during the related Monthly Period
which were allocated in respect of
the Class A Certificates.............$ 53,915,010.51
------------------
(b) The aggregate amount of Collections
of Principal Receivables processed
during the related Monthly Period
which were allocated in respect of
the Class B Certificates.............$ 4,098,801.96
------------------
(c) The aggregate amount of Collections
of Principal Receivables processed
during the related Monthly Period
which were allocated in respect of
the Collateral Interest..............$ 5,044,679.35
------------------
2. Principal Receivables in the Trust
----------------------------------
(a) The aggregate amount of Principal
Receivables in the Trust as of the
end of the day on the last day of
the related Monthly Period...........$ 3,888,922,867.14
------------------
(b) The amount of Principal Receivables
in the Trust represented by the
Investor Interest of Series 1996-A
as of the end of the day on the
last day of the related Monthly
Period...............................$ 500,000,000.00
------------------
(c) The amount of Principal Receivables
in the Trust represented by the
Series 1996-A Adjusted Investor
Interest as of the end of day on
the last day of the related Monthly
Period.............................. $ 500,000,000.00
------------------
(d) The amount of Principal Receivables
in the Trust represented by the
Class A Investor Interest as of the
end of the day on the last day of
the related Monthly Period...........$ 427,500,000.00
------------------
(e) The amount of Principal Receivables
in the Trust represented by the
Class A Adjusted Investor Interest
as of the end of day on the last
day of the related Monthly Period....$ 427,500,000.00
------------------
(f) The amount of Principal Receivables
in the Trust represented by the
Class B Investor Interest as of the
end of the day on the last day of
the related Monthly Period...........$ 32,500,000.00
------------------
(g) The amount of Principal Receivables
in the Trust represented by the
Collateral Interest as of the end
of the day on the last day of the
related Monthly Period...............$ 40,000,000.00
------------------
(h) The Floating Investor Percentage
with respect to the related Monthly
Period................................ 12.5463%
------------------
(i) The Class A Floating Allocation
with respect to the related Monthly
Period................................ 85.50%
------------------
(j) The Class B Floating Allocation
with respect to the related Monthly
Period................................ 6.50%
------------------
(k) The Collateral Floating Allocation
with respect to the related Monthly
Period................................ 8.00%
------------------
(l) The Fixed Investor Percentage with
respect to the related Monthly
Period................................ N/A
------------------
(m) The Class A Fixed Allocation with
respect to the related Monthly
Period................................ N/A
------------------
(n) The Class B Fixed Allocation with
respect to the related Monthly
Period................................ N/A
------------------
(o) The Collateral Fixed Allocation
with respect to the related Monthly
Period................................ N/A
------------------
3. Delinquent Balances
-------------------
The aggregate amount of outstanding balances in the Accounts
which were delinquent as of the end of the day on the last day
of the related Monthly Period:
Aggregate Percentage of
Account Total
Balance Receivables
--------- -------------
(a)...30 - 59 days $ 56,870,194.63 1.4417%
(b)...60 - 89 days $ 34,813,035.48 0.8825%
(c)90 - or more days $ 60,384,298.04 1.5308%
Total.............. $ 152,067,528.15 3.8549%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default
Amount for the related Monthly
Period...............................$ 2,514,661.70
------------------
(b) The Class A Investor Default Amount
for the related Monthly Period.......$ 2,150,035.75
------------------
(c) The Class B Investor Default Amount
for the related Monthly Period.......$ 163,453.01
------------------
(d) The Collateral Default Amount for
the related Monthly Period...........$ 201,172.94
------------------
5. Investor Charge Offs
--------------------
(a) The aggregate amount of Class A
Investor Charge Offs for the
related Monthly Period...............$ 0.00
------------------
(b) The aggregate amount of Class A
Investor Charge Offs set forth in
5(a) above per $1,000 of original
certificate principal amount.........$ 0.00
------------------
(c) The aggregate amount of Class B
Investor Charge Offs for the
related Monthly Period...............$ 0.00
------------------
(d) The aggregate amount of Class B
Investor Charge Offset forth in
5(c) above per $1,000 of original
certificate principal amount.........$ 0.00
------------------
(e) The aggregate amount of Collateral
Charge Offs for the related Monthly
Period...............................$ 0.00
------------------
(f) The aggregate amount of Collateral
Charge Offs set forth in 5(e) above
per $1,000 of original certificate
principal amount.....................$ 0.00
------------------
(g) The aggregate amount of Class A
Investor Charge Offs reimbursed on
the Transfer Date immediately
preceding this Distribution Date ....$ 0.00
------------------
(h) The aggregate amount of Class A
Investor Charge Offs set
forth in 5(g) above per $1,000
original certificate
principal amount reimbursed on
the Transfer Date
immediately preceding this
Distribution Date....................$ 0.00
------------------
(i) The aggregate amount of Class B
Investor Charge Offs reimbursed on
the Transfer Date immediately
preceding this Distribution Date ....$ 0.00
------------------
(j) The aggregate amount of Class B
Investor Charge Offs set
forth in 5(i) above per $1,000
original certificate
principal amount reimbursed on
the Transfer Date
immediately preceding this
Distribution Date....................$ 0.00
------------------
(k) The aggregate amount of Collateral
Charge Offs reimbursed on the
Transfer Date immediately preceding
this Distribution Date...............$ 0.00
------------------
(l) The aggregate amount of Collateral
Charge Offs set forth
in 5(k) above per $1,000 original
certificate principal
amount reimbursed on the Transfer
Date immediately
preceding
Distribution Date....................$ 0.00
------------------
6. Investor Servicing Fee
----------------------
(a) The amount of the Class A Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period...............................$ 356,250.00
------------------
(b) The amount of the Class B Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period...............................$ 27,083.33
------------------
(c) The amount of the Collateral
Servicing Fee payable by the Trust
to the Servicer for the related
Monthly Period.......................$ 33,333.34
------------------
(d) The amount of Servicer Interchange
payable by the Trust to the
Servicer for the related Monthly
Period...............................$ 416,666.67
------------------
7. Reallocations
-------------
(a) The amount of Reallocated
Collateral Principal Collections
with respect to this Distribution
Date.................................$ 0.00
------------------
(b) The amount of Reallocated Class B
Principal Collections with respect
to this Distribution Date............$ 0.00
------------------
(c) The Collateral Interest as of the
close of business on this
Distribution Date....................$ 40,000,000.00
------------------
(d) The Class B Investor Interest as of
the close of business on this
Distribution Date....................$ 32,500,000.00
------------------
8. Collection of Finance Charge Receivables
----------------------------------------
(a) The aggregate amount of Collections
of Finance Charge
Receivables processed during the
related Monthly Period
which were allocated in respect of the
Class A Certificates.................$ 6,340,265.94
------------------
(b) The aggregate amount of Collections
of Finance Charge
Receivables processed during the
related Monthly Period
which were allocated
respect of the Class B Certificates..$ 482,008.51
------------------
(c) The aggregate amount of Collections
of Finance Charge
Receivables processed during the
related Monthly Period
which were allocated in respect of the
Collateral Interest..................$ 593,241.28
------------------
9. Principal Funding Account
-------------------------
(a) The principal amount on deposit in
the Principal Funding Account on
the related Transfer Date............$ 0.00
------------------
(b) The Accumulation Shortfall with
respect to the related Monthly
Period...............................$ 0.00
------------------
(c) The Principal Funding Investment
Proceeds deposited in the Finance
Charge Account on the related
Transfer Date........................$ 0.00
------------------
(d) The Principal Funding Investment
Shortfall............................$ 0.00
------------------
(e) The amount of all or the portion of
the Reserve Draw Amount deposited
in the Finance Charge Account on
the related Transfer Date from the
Reserve Account......................$ 0.00
------------------
10. Reserve Draw Amount........................$ 0.00
------------------- ------------------
11. Available Funds
---------------
(a) The amount of Class A Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date........................$ 6,340,265.94
------------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date........................$ 482,008.51
------------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date........................$ 593,241.28
------------------
12. Portfolio Yield
---------------
(a) The Net Portfolio Yield for the
related Monthly Period................ 12.7620%
------------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period............ 4.7850%
------------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period
ending on this Distribution Date............ 5.50391%
------------------
BANK OF AMERICA NATIONAL
ASSOCIATION
TRANSFEROR AND SERVICER
By: /s/ MARGARET A. SPRUDE
---------------------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
SCHEDULE TO MONTHLY SERVICER'S CERTIFICATE
MONTHLY PERIOD ENDING SEPTEMBER 30, 1996
------------------
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1996-A
1. The aggregate amount of the Investor
Percentage of Collections of Principal
Receivables................................$ 63,058,491.82
------------------
2. The aggregate amount of the Investor
Percentage of Collections of Finance
Charge Receivables (excluding Interchange).$ 7,226,259.09
------------------
3. The aggregate amount of the Investor
Percentage of Interchange..................$ 605,923.31
------------------
4. The aggregate amount of Servicer
Interchange................................$ 416,666.67
------------------
5. The aggregate amount of funds on deposit
in Finance Charge Account allocable to the
Series 1996-A Certificates...............$ 7,415,515.73
------------------
6. The aggregate amount of funds on deposit
in the Principal Account allocable to the
Series 1996-A Certificates................$ 63,058,491.82
------------------
7. The aggregate amount of funds on deposit
in the Principal Funding Account allocable
to the Series 1996-A Certificates..........$ 0.00
------------------
8. The aggregate amount to be withdrawn from
the Finance Charge Account and paid in
accordance with the Loan Agreement
pursuant to Section 4.11...................$ 0.00
------------------
9. The excess, if any, of the Required
Collateral Interest over the Collateral
Interest...................................$ 0.00
------------------
10. The Collateral Interest on the Transfer
Date of the current calendar month, after
giving effect to the deposits and
withdrawals specified above, is equal to...$ 40,000,000.00
------------------
11. The amount of Monthly Interest, Deficiency
Amounts and Additional Interest payable to the
(i) Class A Certificateholders...........$ 1,940,177.76
------------------
(ii) Class B Certificateholders...........$ 151,687.78
------------------
(iii) Collateral Interest Holder...........$ 190,237.10
------------------
12. The amount of principal payable to the
(i) Class A Certificateholders...........$ 0.00
------------------
(ii) Class B Certificateholders...........$ 0.00
------------------
(iii) Collateral Interest Holder...........$ 0.00
------------------
13. The sum of all amounts payable to the
(i) Class A Certificateholders...........$ 1,940,177.76
------------------
(ii) Class B Certificateholders ..........$ 151,687.78
------------------
(iii) Collateral Interest Holder...........$ 190,237.10
------------------
14. To the knowledge of the undersigned, no
Series 1996-A Pay Out Event or Trust Pay
Out Event has occurred except as
described below:
None
IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this Certificate this 9th day of OCTOBER, 1996.
--- -------------
BANK OF AMERICA NATIONAL
ASSOCIATION
TRANSFEROR AND SERVICER
By: /s/ MARGARET A. SPRUDE
---------------------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
MONTHLY SERVICER'S CERTIFICATE
------------------------------
Bank of America National Association
-------------------------------------------------
BA MASTER CREDIT CARD TRUST
-------------------------------------------------
1. Capitalized terms used in this Certificate have their respective
meanings set forth in the Pooling and Servicing Agreement; provided, that the
"preceding Monthly Period" shall mean the Monthly Period immediately preceding
the calendar month in which this Certificate is delivered. This Certificate is
delivered pursuant to subsection 3.04 (b) of the Pooling and Servicing
Agreement. References herein to certain sections and subsections are references
to the respective sections and subsections of the Pooling and Servicing
Agreement.
2. Bank of America National Association is Servicer under the
Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. The date of this Certificate is a Determination Date under
the Pooling and Servicing Agreement.
5. The aggregate amount of Collections
processed during the preceding Monthly Period was equal to
(excluding Annual Membership Fees and Interchange)...........$ 557,874,378.07
------------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to............................... $ 67,683,960.52
------------------
7. The Aggregate Investor Percentage of
Collections of Finance Charge Receivables processed by the
Servicer during the preceding Monthly Period was equal to
(excluding Annual Membership Fees and Interchange)...... $ 6,969,765.65
------------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day of
the preceding Monthly Period.................................$ 539,473,474.44
------------------
9. Of the balance on deposit in the Finance
Charge Account, the amount attributable to the Aggregate
Investor Percentage of Collections processed by the Servicer
during the preceding Monthly Period .........................$ 7,832,182.40
------------------
10. Of the balance on deposit in the Principal
Account, the amount attributable to the Aggregate Investor
Percentage of Collections processed by the Servicer during
the preceding Monthly Period.................................$ 63,058,491.82
------------------
11. The aggregate amount, if any, of
withdrawals, drawings or payments under any Credit
Enhancement, if any, required to be made with respect to any
Series outstanding for the preceding Monthly Period.........$ 0.00
------------------
12. The Aggregate Investor Percentage of
Collections of Principal Receivables processed by the
Servicer during the related Monthly Period is equal to.......$ 63,058,491.82
------------------
13. The amount equal to the Aggregate
Investor Percentage of Annual Membership Fees deposited to
the Finance Charge Account or any Series Account on or
before the Transfer Date during the current month is equal
to................................ $ 256,493.44
------------------
14. The aggregate amount of Interchange to be
deposited in the Finance Charge Account on the Transfer
Date of the current month is equal to........................$ 605,923.31
------------------
15. The aggregate amount of all sums payable
to the Investor Certificateholder of each Series on the
succeeding Distribution Date with respect to Certificate
Principal........................................ $ 0.00
------------------
16. The aggregate amount of all sums payable
to the Investor Certificateholder of each Series on the
succeeding Distribution Date with respect to Certificate
Interest................................ $ 2,282,102.64
------------------
17. The aggregate amount of Default Amounts
processed by the Servicer as of the end of the last day of
the preceding Monthly Period.................................$ 20,043,054.09
------------------
18. To the knowledge of the undersigned, there
are no Liens on any Receivables in the Trust except as
described below:
None
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this certificate this 9th day of OCTOBER, 1996.
--- -------------
BANK OF AMERICA NATIONAL
ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
---------------------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
BA MASTER CREDIT CARD TRUST
SERIES 1996-A
Monthly Period Ending: SEPTEMBER 3,1996
----------------
Portfolio Status
- ----------------
# of Accounts Dollars
------------- -------
Total Outstanding 2,897,346 3,944,745,748.56
(a) Total Principal Outstandings N/A 3,888,922,867.14
(b) Total Finance Charge Outstandings N/A 55,822,881.42
Adjusted Investor Interest 500,000,000.00
(a) Class A Adjusted Investor Interest 427,500,000.00
(b) Class B Investor Interest 32,500,000.00
(c) Collateral Interest 40,000,000.00
Delinquencies 152,067,528.15
% of Total Outstandings 3.8549%
Gross Credit Losses 20,043,054.09
% of Total Outstandings 0.5081%
Investor Default Amount 2,514,661.70
% Adjusted Investor Interest 0.5029%
Monthly Payment Rate 14.1940%
Payments and Yield Amount
- ------------------ ------
Aggregate Amount of Collections of Principal
Receivable (allocable to Investor Interest) $63,058,491.82
(a) Shared Principal Collections
(allocable to Investor Interest -
if any)
$ 0.00
Aggregate Amount of Collections of Finance
Charge Receivable (allocable to Adjusted
Investor Interest) $ 7,415,515.73
(a) Periodic Finance Charges other fees,
including Cash Advance Fees, Late Fees
and charges for credit insurance and Special Fees. $ 6,969,765.65
(b) Annual Membership Fees $ 256,493.44
(c) Interchange (if any) $ 189,256.64
Amount
------
Principal Funding Account Balance 0.00
Principal Funding Investment Proceeds 0.00
Required Reserve Account Amount 0.00
% of Class A Investor Interest 0.00%
Reserve Account Amount 0.00
% of Class A Investor Interest 0.00%
Interest and earnings on funds on deposit in
the Reserve Account (accrued since the
preceding Transfer Date as per Section 4.15(b)) 0.00
Servicer Interchange 416,666.67
% of Adjusted Investor Interest 1.00%
Gross Portfolio Yield 18.7972%
Default Rate (Gross) 6.0352%
Portfolio Yield (Net) 12.7620%
Base Rate 7.4770%
Excess Spread Percentage 5.2850%
Excess Spread $2,202,084.72
Portfolio Adjusted Yield 4.7850%
Spread Account Cap Percentage 0.00%
Spread Account Cap $ 0.00
Spread Account Amount $ 0.00
% of Initial Investor Interest 0.00%
Investment Earnings $ 0.00
BA MASTER CREDIT CARD TRUST
SERIES 1996-A
Monthly Period Ending: SEPTEMBER 30, 1996
------------------
Monthly Payment Certificate
---------------------------
CA Investor Interest
- --------------------
CA Investor Principal Balance $ 40,000,000.00
------------------
Required Collateral Interest $ 40,000,000.00
------------------
Collateral Interest $ 40,000,000.00
------------------
CA Investor Charge Offs $ 0.00
------------------
Collateral Floating Allocation 8.00%
------------------
Collateral Fixed Allocation N/A
------------------
Spread Account
- --------------
Spread Account Amount $ 0.00
------------------
Investment Earnings $ 0.00
------------------
Spread Account Cap $ 0.00
------------------
Spread Account Surplus $ 0.00
------------------
Spread Account Cap Percentage 0.00%
------------------
Available Funds
- ---------------
Available Non-Principal Funds $ 190,237.10
------------------
Available Principal Funds $ 0.00
------------------
Application of Available Funds(1)
- ---------------------------------
Application of Available Non-Principal Funds:
Interest to CA Investors [2.10(a)(i)] $ 190,237.10
------------------
Fees, expenses and other amounts
[2.10(a)(ii)] $ 0.00
------------------
Deposit of Spread Account
Deficiency to Spread Account
[2.10(a)(iii)] $ 0.00
------------------
To Transferor $ 0.00
------------------
Application of Available Principal Funds:
Reduce CA Investor Principal
Balance [2.10(b)] $ 0.00
------------------
Remaining Funds to Transferor $ 0.00
------------------
Withdrawals from Spread Account [2.11(c)]
- -------------------------------
To CA Investors:
Interest Deficiency $ 0.00
------------------
Deficiencies in fees, expenses and
other amounts $ 0.00
------------------
Reduction of CA Investor Principal
Balance $ 0.00
------------------
To Transferor:
Excess of Spread Account Amount
over Spread Account Cap $ 0.00
------------------
Investment Earnings $ 0.00
------------------
Excess Spread Percentage 5.2850%
-------
