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
May 15, 1998
------------------------------------------------
Date of report (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, 20.7, 20.8, 20.9, 20.10,
20.11, and 20.12.
Exhibit 20.1 SERIES 1996-A - Monthly Payment Instructions and
Notification to the Trustee, dated as of April 30, 1998
Exhibit 20.2 SERIES 1996-A - Monthly Certificateholders' Statement,
dated as of April 30, 1998
Exhibit 20.3 SERIES 1996-A - Schedule to Monthly Servicers'
Certificate, dated as of April 30, 1998
Exhibit 20.4 SERIES 1996-A - Monthly Servicer's Certificate, dated
as of April 30, 1998
Exhibit 20.5 SERIES 1997-A - Monthly Payment Instructions and
Notification to the Trustee, dated as of April 30, 1998
Exhibit 20.6 SERIES 1997-A - Monthly Certificateholders' Statement,
dated as of April 30, 1998
Exhibit 20.7 SERIES 1997-A - Schedule to Monthly Servicer's
Certificate, dated as of April 30, 1998
Exhibit 20.8 SERIES 1997-A - Monthly Servicer's Certificate, dated
as of April 30, 1998
Exhibit 20.9 SERIES 1998-A - Monthly Payment Instructions and
Notification to the Trustee, dated as of April 30, 1998
Exhibit 20.10 SERIES 1998-A - Monthly Certificateholders' Statement,
dated as of April 30, 1998
Exhibit 20.11 SERIES 1998-A - Schedule to Monthly Servicer's
Certificate, dated as of April 30, 1998
Exhibit 20.12 SERIES 1998-A - Monthly Servicer's Certificate, dated
as of April 30, 1998
<PAGE>
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
Transferor and Servicer
By /s/ MARGARET A. SPRUDE
------------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
Date: May 25, 1998
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Exhibit Description
- -------- -------------------
20.1 SERIES 1996-A - Monthly Payment Instructions and Notification
to the Trustee, dated as of April 30, 1998
20.2 SERIES 1996-A - Monthly Certificateholders' Statement, dated as
of April 30, 1998
20.3 SERIES 1996-A - Schedule to Monthly Servicers' Certificate,
dated as of April 30, 1998
20.4 SERIES 1996-A - Monthly Servicer's Certificate, dated as of
April 30, 1998
20.5 SERIES 1997-A - Monthly Payment Instructions and Notification
to the Trustee, dated as of April 30, 1998
20.6 SERIES 1997-A - Monthly Certificateholders' Statement, dated as
of April 30, 1998
20.7 SERIES 1997-A - Schedule to Monthly Servicer's Certificate,
dated as of April 30, 1998
20.8 SERIES 1997-A - Monthly Servicer's Certificate, dated as of
April 30, 1998
20.9 SERIES 1998-A - Monthly Payment Instructions and Notification
to the Trustee, dated as of April 30, 1998
20.10 SERIES 1998-A - Monthly Certificateholders' Statement, dated as
of April 30, 1998
20.11 SERIES 1998-A - Schedule to Monthly Servicer's Certificate,
dated as of April 30, 1998
20.12 SERIES 1998-A - Monthly Servicer's Certificate, dated as of
April 30, 1998
MONTHLY PAYMENT INSTRUCTIONS AND NOTIFICATION
TO THE TRUSTEE
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1996-A
MONTHLY PERIOD ENDING APRIL 30, 1998
--------------
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 MAY 14, 1998,
------------
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..............................................$ 2,061,351.56
-------------
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.......................$ 2,576,658.54
-------------
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...............$ 1,675,812.29
-------------
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..............................................$ 161,044.27
-------------
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...............$ 318,953.92
-------------
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.............$ 624,100.34
-------------
Total.................................................$ 8,217,920.92
=============
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................................$67,175,219.54
-------------
2. Unallocated Principal Collections.....................$ 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
-------------
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 MAY 15, 1998, 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....................................$ 2,061,351.56
-------------
2. Amount to be distributed to Class B
Certificateholders....................................$ 161,044.27
-------------
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........................$ 195,886.32
-------------
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...........$ 201,875.00
-------------
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...........................................$ 241,090.86
-------------
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........$ 1,946,681.03
-------------
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):
1. The aggregate amount of all accrued and
unpaid Investor Monthly Servicing Fees..................$ 0.00
-------------
C. Section 4.10:
1. The aggregate amount of all unreimbursed
Investor Charge Offs....................................$ 0.00
-------------
IN WITNESS WHEREOF, the undersigned has duly executed this certificate this
12th day of MAY, 1998.
- ---- ---------
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 MAY 15, 1998, 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............$ 4.82187
----------------
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............$ 4.95521
----------------
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.........$ 5.04688
----------------
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..................................$ 54,858,154.17
----------------
(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..................................$ 4,170,502.95
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 5,132,926.70
----------------
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........................$6,201,942,257.19
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1996-A as of the end
of the day on the last day of the related
Monthly Period................................$ 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......... 8.0147%
----------------
(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) 31 - 60 days $109,921,198.32 1.7434%
(b) 61 - 90 days $ 69,582,902.40 1.1036%
(c) 91 - or more days $123,864,202.97 1.9645%
Total....................... $303,368,303.69 4.8116%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 3,013,635.72
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 2,576,658.54
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 195,886.32
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 241,090.86
----------------
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...........$ 6,670,072.39
----------------
(b) The aggregate amount of Collections
of Finance Charge Receivables
processed during the related Monthly
Period which were allocated in respect
of the Class B Certificates...................$ 507,081.52
----------------
(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...........................$ 624,100.34
----------------
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.................................$ 6,670,072.39
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 507,081.52
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 624,100.34
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 12.4903%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 4.1720%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.65625%
----------------
2. Class A Certificate Rate........................... 5.78625%
----------------
Class B Certificate Rate........................... 5.94625%
----------------
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 APRIL 30, 1998
--------------
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................$ 64,161,583.82
--------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 7,457,544.24
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 760,376.68
--------------
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................................... $ 7,801,254.25
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1996-A Certificates...................................$ 64,161,583.82
--------------
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.........................$ 2,061,351.56
--------------
(ii) Class B Certificateholders.........................$ 161,044.27
--------------
(iii)Collateral Interest Holder.........................$ 201,875.00
--------------
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.........................$ 2,061,351.56
--------------
(ii) Class B Certificateholders ........................$ 161,044.27
--------------
(iii)Collateral Interest Holder.........................$ 201,875.00
--------------
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 12th day of MAY, 1998.
---- ---------
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
------------------------------
(This represents Series 1996-A only)
Monthly Period Ending APRIL 30, 1998
--------------
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)...............$889,759,970.54
--------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to......................................$ 71,999,701.90
--------------
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)...............$ 7,322,024.01
--------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period..................................$898,345,563.74
--------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ..........................................................$ 8,217,920.92
--------------
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...........................................................$ 64,161,583.82
--------------
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.........................................................$ 64,161,583.82
--------------
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.........................................................$ 135,520.23
--------------
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...................$ 760,376.68
--------------
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..........................................$ 2,424,270.83
--------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.........................$ 37,601,354.03
--------------
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 12th day of MAY, 1998.
---- -----------
BANK OF AMERICA NATIONAL ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
-----------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
MONTHLY PAYMENT INSTRUCTIONS AND NOTIFICATION
TO THE TRUSTEE
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1997-A
MONTHLY PERIOD ENDING APRIL 30, 1998
--------------
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
1997-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 MAY 14, 1998,
------------
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 1997-A Supplement and Section 4.09 of the Pooling and
Servicing Agreement:
A. Pursuant to subsection 3 (a) of the Series 1997-A Supplement:
1. Servicer Interchange..................................$ 625,000.00
-------------
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..............................................$ 3,117,378.91
-------------
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.................................$ 540,625.00
-------------
2. Accrued and unpaid Class A Servicing Fee..............$ 0.00
-------------
D. Pursuant to subsection 4.09 (a) (iii):
1. Class A Investor Default Amount.......................$ 3,910,208.61
-------------
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...............$ 2,553,959.21
-------------
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..............................................$ 204,402.34
-------------
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.................................$ 34,375.00
-------------
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...............$ 404,828.96
-------------
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.............$ 936,154.61
-------------
Total.................................................$12,326,932.64
=============
K. Pursuant to subsection 4.09 (d) (ii):
1. Amount to be treated as Shared Excess
Principal Collections.................................$ 0.00
-------------
L. Pursuant to subsection 4.09 (d) (iii):
1. Amount to be paid to the Holder of the
Transferor Certificate...............................$100,763,248.38
--------------
2. Unallocated Principal Collections.....................$ 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
-------------
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 1997-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 MAY 15, 1998, 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....................................$ 3,117,378.91
-------------
2. Amount to be distributed to Class B
Certificateholders....................................$ 204,402.34
-------------
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........................$ 248,625.98
-------------
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...........$ 305,312.50
-------------
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..........................$ 50,000.00
-------------
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...........................................$ 361,637.79
-------------
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 amount equal to the aggregate of any other
amounts due to the Collateral Interest Holder
out of collections of Excess Spread and Shared
Excess Finance Charge Collections allocated to
Series 1997-A pursuant to the Loan Agreement
shall be distributed to the Collateral Interest
Holder for application in accordance with the
Loan Agreement..............................................$ 0.00
-------------
K. The balance, if any, after giving effect to the
payments made pursuant to subparagraphs (A)
through (J) above will constitute a portion of
Shared Excess Finance Charge Collections for
such Distribution Date and will be available for
allocation to other Series in Shared Excess Finance
charge Collections Group One and, to the extent
not required to be applied to any Series in Shared
Excess Finance Charge Collections Group One, shall
be distributed to the Holder of the Transferor
Certificate.................................................$ 2,929,366.51
-------------
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):
1. The aggregate amount of all accrued and
unpaid Investor Monthly Servicing Fees..................$ 0.00
-------------
C. Section 4.10:
1. The aggregate amount of all unreimbursed
Investor Charge Offs....................................$ 0.00
-------------
IN WITNESS WHEREOF, the undersigned has duly executed this certificate this
12th day of MAY, 1998.
- ---- ---------
BANK OF AMERICA NATIONAL ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
----------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
MONTHLY SERIES 1997-A CERTIFICATEHOLDERS' STATEMENT
---------------------------------------------------
Series 1997-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 MAY 15, 1998, 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............$ 4.80521
----------------
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............$ 4.95521
----------------
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.........$ 5.08854
----------------
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..................................$ 83,250,001.24
----------------
(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..................................$ 5,293,352.68
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 7,699,422.08
----------------
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........................$6,201,942,257.19
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1997-A as of the end
of the day on the last day of the related
Monthly Period................................$ 750,000,000.00
----------------
(c) The amount of Principal Receivables in
the Trust represented by the Series
1997-A Adjusted Investor Interest as of
the end of day on the last day of the
related Monthly Period.......... .............$ 750,000,000.00
----------------
(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................................$ 648,750,000.00
----------------
(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................................$ 648,750,000.00
----------------
(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................................$ 41,250,000.00
----------------
(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........$ 60,000,000.00
----------------
(h) The Floating Investor Percentage with
respect to the related Monthly Period......... 12.0221%
----------------
(i) The Class A Floating Allocation with
respect to the related Monthly Period......... 86.50%
----------------
(j) The Class B Floating Allocation with
respect to the related Monthly Period......... 5.50%
----------------
(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) 31 - 60 days $109,921,198.32 1.7434%
(b) 61 - 90 days $ 69,582,902.40 1.1036%
(c) 91 - or more days $123,864,202.97 1.9645%
Total....................... $303,368,303.69 4.8116%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 4,520,472.38
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 3,910,208.61
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 248,625.98
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 361,637.79
----------------
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........................................$ 540,625.00
----------------
(b) The amount of the Class B Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period........................................$ 34,375.00
----------------
(c) The amount of the Collateral Servicing
Fee payable by the Trust to the
Servicer for the related Monthly Period.......$ 50,000.00
----------------
(d) The amount of Servicer Interchange
payable by the Trust to the Servicer
for the related Monthly Period................$ 625,000.00
----------------
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..........................................$ 60,000,000.00
----------------
(d) The Class B Investor Interest as
of the close of business on this
Distribution Date.............................$ 41,250,000.00
----------------
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...........$ 10,122,171.73
----------------
(b) The aggregate amount of Collections
of Finance Charge Receivables
processed during the related Monthly
Period which were allocated in respect
of the Class B Certificates...................$ 643,606.30
----------------
(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...........................$ 936,154.61
----------------
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.................................$ 10,122,171.73
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 643,606.30
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 936,154.611
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 12.4903%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 4.1869%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.65625%
----------------
2. Class A Certificate Rate........................... 5.76625%
----------------
Class B Certificate Rate........................... 5.94625%
----------------
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 APRIL 30, 1998
--------------
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1997-A
1. The aggregate amount of the Investor Percentage
of Collections of Principal Receivables................$ 96,242,776.00
--------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 11,186,362.88
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 1,140,569.76
--------------
4. The aggregate amount of Servicer Interchange...........$ 625,000.00
--------------
5. The aggregate amount of funds on deposit in
Finance Charge Account allocable to the Series
1997-A Certificates................................... $ 11,701,932.64
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1997-A Certificates...................................$ 96,242,776.00
--------------
7. The aggregate amount of funds on deposit in
the Principal Funding Account allocable to
the Series 1997-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.....................................$ 60,000,000.00
--------------
11. The amount of Monthly Interest, Deficiency
Amounts and Additional Interest payable to the
(i) Class A Certificateholders.........................$ 3,117,378.91
--------------
(ii) Class B Certificateholders.........................$ 204,402.34
--------------
(iii)Collateral Interest Holder.........................$ 305,312.50
--------------
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.........................$ 3,117,378.91
--------------
(ii) Class B Certificateholders ........................$ 204,402.34
--------------
(iii)Collateral Interest Holder.........................$ 305,312.50
--------------
14. To the knowledge of the undersigned, no Series
1997-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 12th day of MAY, 1998.
---- ---------
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
------------------------------
(This represents Series 1997-A only)
Monthly Period Ending APRIL 30, 1998
--------------
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)...............$889,759,970.54
--------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to......................................$108,000,002.02
--------------
7. The Aggregate Investor Percentage of
Collections of Finance Charge Receivables processed by the
Servicer during the preceding Monthly Period was equal to
(excluding Annual Membership Fees and Interchange)...............$ 10,983,081.69
--------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period..................................$898,345,563.74
--------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ..........................................................$ 12,326,932.64
--------------
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...........................................................$ 96,242,776.00
--------------
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.........................................................$ 96,242,776.00
--------------
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.........................................................$ 203,281.19
--------------
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...................$ 1,140,569.76
--------------
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..........................................$ 3,627,093.75
--------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.........................$ 37,601,354.03
--------------
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 12th day of MAY, 1998.
---- ---------
BANK OF AMERICA NATIONAL ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
-----------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
MONTHLY PAYMENT INSTRUCTIONS AND NOTIFICATION
TO THE TRUSTEE
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1998-A
MONTHLY PERIOD ENDING APRIL 30, 1998
--------------
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
1998-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 MAY 14, 1998,
------------
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 1998-A Supplement and Section 4.09 of the Pooling and
Servicing Agreement:
A. Pursuant to subsection 3 (a) of the Series 1998-A Supplement:
1. Servicer Interchange..................................$ 375,000.00
-------------
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..............................................$ 5,206,894.54
-------------
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.................................$ 324,375.00
-------------
2. Accrued and unpaid Class A Servicing Fee..............$ 0.00
-------------
D. Pursuant to subsection 4.09 (a) (iii):
1. Class A Investor Default Amount.......................$ 4,209,306.38
-------------
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...............$ 2,547,631.69
-------------
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..............................................$ 340,240.88
-------------
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.................................$ 20,625.00
-------------
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...............$ 420,465.25
-------------
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.............$ 1,136,481.62
-------------
Total.................................................$14,581,020.36
=============
K. Pursuant to subsection 4.09 (d) (ii):
1. Amount to be treated as Shared Excess
Principal Collections.................................$ 0.00
-------------
L. Pursuant to subsection 4.09 (d) (iii):
1. Amount to be paid to the Holder of the
Transferor Certificate...............................$117,934,740.06
--------------
2. Unallocated Principal Collections.....................$ 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
-------------
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 1998-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 MAY 15, 1998, 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....................................$ 5,206,894.54
-------------
2. Amount to be distributed to Class B
Certificateholders....................................$ 340,240.88
-------------
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........................$ 267,643.76
-------------
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...........$ 514,062.50
-------------
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..........................$ 30,000.00
-------------
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...........................................$ 389,300.01
-------------
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 amount equal to the aggregate of any other
amounts due to the Collateral Interest Holder
out of collections of Excess Spread and Shared
Excess Finance Charge Collections allocated to
Series 1998-A pursuant to the Loan Agreement
shall be distributed to the Collateral Interest
Holder for application in accordance with the
Loan Agreement..............................................$ 0.00
-------------
K. The balance, if any, after giving effect to the
payments made pursuant to subparagraphs (A)
through (J) above will constitute a portion of
Shared Excess Finance Charge Collections for
such Distribution Date and will be available for
allocation to other Series in Shared Excess Finance
charge Collections Group One and, to the extent
not required to be applied to any Series in Shared
Excess Finance Charge Collections Group One, shall
be distributed to the Holder of the Transferor
Certificate.................................................$ 2,903,572.29
-------------
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):
1. The aggregate amount of all accrued and
unpaid Investor Monthly Servicing Fees..................$ 0.00
-------------
C. Section 4.10:
1. The aggregate amount of all unreimbursed
Investor Charge Offs....................................$ 0.00
-------------
IN WITNESS WHEREOF, the undersigned has duly executed this certificate this
12th day of MAY, 1998.
- ---- ---------
BANK OF AMERICA NATIONAL ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
----------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
MONTHLY SERIES 1998-A CERTIFICATEHOLDERS' STATEMENT
---------------------------------------------------
Series 1998-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 MAY 15, 1998, 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............$ 8.02604
----------------
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............$ 8.24826
----------------
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.........$ 8.56771
----------------
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..................................$ 97,804,243.77
----------------
(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..................................$ 6,218,766.94
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 9,045,479.20
----------------
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........................$6,201,942,257.19
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1998-A as of the end
of the day on the last day of the related
Monthly Period................................$ 750,000,000.00
----------------
(c) The amount of Principal Receivables in
the Trust represented by the Series
1998-A Adjusted Investor Interest as of
the end of day on the last day of the
related Monthly Period.......... .............$ 750,000,000.00
----------------
(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................................$ 648,750,000.00
----------------
(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................................$ 648,750,000.00
----------------
(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................................$ 41,250,000.00
----------------
(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........$ 60,000,000.00
----------------
(h) The Floating Investor Percentage with
respect to the related Monthly Period......... 12.0302%
----------------
The Floating Investor Percentage with
Respect to the second month of the related
Monthly Period............................... 12.0221%
----------------
(i) The Class A Floating Allocation with
respect to the related Monthly Period......... 86.50%
----------------
(j) The Class B Floating Allocation with
respect to the related Monthly Period......... 5.50%
----------------
(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) 31 - 60 days $109,921,198.32 1.7434%
(b) 61 - 90 days $ 69,582,902.40 1.1036%
(c) 91 - or more days $123,864,202.97 1.9645%
Total....................... $303,368,303.69 4.8116%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 4,866,250.15
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 4,209,306.38
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 267,643.76
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 389,300.01
----------------
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........................................$ 324,375.00
----------------
(b) The amount of the Class B Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period........................................$ 20,625.00
----------------
(c) The amount of the Collateral Servicing
Fee payable by the Trust to the
Servicer for the related Monthly Period.......$ 30,000.00
----------------
(d) The amount of Servicer Interchange
payable by the Trust to the Servicer
for the related Monthly Period................$ 375,000.00
----------------
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..........................................$ 60,000,000.00
----------------
(d) The Class B Investor Interest as
of the close of business on this
Distribution Date.............................$ 41,250,000.00
----------------
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...........$ 12,288,207.61
----------------
(b) The aggregate amount of Collections
of Finance Charge Receivables
processed during the related Monthly
Period which were allocated in respect
of the Class B Certificates...................$ 781,331.13
----------------
(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...........................$ 1,136,481.62
----------------
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.................................$ 12,288,207.61
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 781,331.13
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 1,136,481.62
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 12.9531%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 5.1343%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.65625%
----------------
Class A Certificate Rate........................... 5.76625%
----------------
Class B Certificate Rate........................... 5.92625%
----------------
2. LIBOR for the Interest Period ending on
April 14, 1998..................................... 5.68750%
----------------
Class A Certificate Rate........................... 5.79750%
----------------
Class B Certificate Rate........................... 5.95750%
----------------
NOTE: The initial Interest Period comprises the periods of March 26, 1998
(Closing Date) through April 14, 1998 and April 15, 1998 through
May 14, 1998.
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 APRIL 30, 1998
--------------
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1998-A
1. The aggregate amount of the Investor Percentage
of Collections of Principal Receivables................$113,068,489.91
--------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 13,230,811.32
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 1,350,209.04
--------------
4. The aggregate amount of Servicer Interchange...........$ 375,000.00
--------------
5. The aggregate amount of funds on deposit in
Finance Charge Account allocable to the Series
1998-A Certificates................................... $ 14,206,020.36
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1998-A Certificates...................................$113,068,489.91
--------------
7. The aggregate amount of funds on deposit in
the Principal Funding Account allocable to
the Series 1998-A Certificates.........................$ 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.....................................$ 60,000,000.00
--------------
11. The amount of Monthly Interest, Deficiency
Amounts and Additional Interest payable to the
(i) Class A Certificateholders.........................$ 5,206,894.54
--------------
(ii) Class B Certificateholders.........................$ 340,240.88
--------------
(iii)Collateral Interest Holder.........................$ 514,062.50
--------------
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.........................$ 5,206,894.54
--------------
(ii) Class B Certificateholders ........................$ 340,240.88
--------------
(iii)Collateral Interest Holder.........................$ 514,062.50
--------------
14. To the knowledge of the undersigned, no Series
1998-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 12th day of MAY, 1998.
---- ---------
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
------------------------------
(This represents Series 1998-A only)
Monthly Period Ending APRIL 30, 1998
--------------
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).............$1,044,773,299.97
----------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to......................................$127,028,610.97
--------------
7. The Aggregate Investor Percentage of
Collections of Finance Charge Receivables processed by the
Servicer during the preceding Monthly Period was equal to
(excluding Annual Membership Fees and Interchange)...............$ 12,974,253.07
--------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period................................$1,056,519,234.60
----------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ..........................................................$ 14,581,020.36
--------------
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...........................................................$113,068,489.91
--------------
11. The aggregate amount, if any, of
withdrawals, drawings or payments under any Credit
Enhancement, if any, required to be made with respect to
any Series outstanding for the preceding Monthly Period..........$ 0.00
--------------
12. The Aggregate Investor Percentage
of Collections of Principal Receivables processed
by the Servicer during the related Monthly Period is
equal to.........................................................$113,068,489.91
--------------
13. The amount equal to the Aggregate
Investor Percentage of Annual Membership Fees deposited
to the Finance Charge Account or any Series Account on
or before the Transfer Date during the current month is
equal to.........................................................$ 256,558.25
--------------
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...................$ 1,350,209.04
--------------
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..........................................$ 6,061,197.92
--------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.........................$ 40,475,601.90
--------------
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 12th day of MAY, 1998.
---- ---------
BANK OF AMERICA NATIONAL ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
-----------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
