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
January 15, 1999
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Date of report (Date of earliest event reported)
Bank of America National Association
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(Exact name of registrant as specified in its charter)
U.S.A. 333-4152 86-0645265
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
201 N. Tryon Street
Charlotte, North Carolina 28255
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(Address of principal executive offices) (Zip Code)
(704) 386-4103
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(Registrant's telephone number, including area code)
N/A
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(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. On December 18, 1998 the Pooling and Servicing Agreement for the BA
Master Credit Card Trust, dated as of July 19, 1996 between Bank of
America National Association, as Transferor and Servicer, and U.S.
Bank National Association, as Trustee, was amended by the First
Amendment to the BA Master Credit Card Trust Pooling and Servicing
Agreement and Amendment to the Series Supplements, dated as of
December 18, 1998.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits
4.1, 20.1, 20.2, 20.3, 20.4, 20.5, 20.06, 20.07, 20.08 20.09, 20.10,
20.11 and 20.12.
Exhibit 4.1 First Amendment to the BA Master Credit Card Trust
Pooling and Servicing Agreement and Amendment to the
Series Supplements, dated as of December 18, 1998.
Exhibit 20.1 SERIES 1996-A - Monthly Certificateholders' Statement,
dated as of December 31, 1998
Exhibit 20.2 SERIES 1996-A - Schedule to Monthly Servicers'
Certificate, dated as of December 31, 1998
Exhibit 20.3 SERIES 1996-A - Monthly Servicer's Certificate, dated
as of December 31, 1998
Exhibit 20.4 SERIES 1997-A - Monthly Certificateholders' Statement,
dated as of December 31, 1998
Exhibit 20.5 SERIES 1997-A - Schedule to Monthly Servicer's
Certificate, dated as of December 31, 1998
Exhibit 20.6 SERIES 1997-A - Monthly Servicer's Certificate, dated
as of December 31, 1998
Exhibit 20.7 SERIES 1998-A - Monthly Certificateholders' Statement,
dated as of December 31, 1998
Exhibit 20.8 SERIES 1998-A - Schedule to Monthly Servicer's
Certificate, dated as of December 31, 1998
Exhibit 20.9 SERIES 1998-A - Monthly Servicer's Certificate, dated
as of December 31, 1998
Exhibit 20.10 SERIES 1998-B - Monthly Certificateholders' Statement,
dated as of December 31, 1998
Exhibit 20.11 SERIES 1998-B - Schedule to Monthly Servicer's
Certificate, dated as of December 31, 1998
Exhibit 20.12 SERIES 1998-B - Monthly Servicer's Certificate, dated
as of December 31, 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
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Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
Date: January 15, 1999
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Exhibit Description
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4.1 First Amendment to the BA Master Credit Card Trust Pooling and
Servicing Agreement and Amendment to the Series Supplements,
dated as of December 18, 1998.
20.1 SERIES 1996-A - Monthly Certificateholders' Statement, dated as
of December 31, 1998
20.2 SERIES 1996-A - Schedule to Monthly Servicers' Certificate,
dated as of December 31, 1998
20.3 SERIES 1996-A - Monthly Servicer's Certificate, dated as of
December 31, 1998
20.4 SERIES 1997-A - Monthly Certificateholders' Statement, dated as
of December 31, 1998
20.5 SERIES 1997-A - Schedule to Monthly Servicer's Certificate,
dated as of December 31, 1998
20.6 SERIES 1997-A - Monthly Servicer's Certificate, dated as of
December 31, 1998
20.7 SERIES 1998-A - Monthly Certificateholders' Statement, dated as
of December 31, 1998
20.8 SERIES 1998-A - Schedule to Monthly Servicer's Certificate,
dated as of December 31, 1998
20.9 SERIES 1998-A - Monthly Servicer's Certificate, dated as of
December 31, 1998
20.10 SERIES 1998-B - Monthly Certificateholders' Statement, dated as
of December 31, 1998
20.11 SERIES 1998-B - Schedule to Monthly Servicer's Certificate,
dated as of December 31, 1998
20.12 SERIES 1998-B - Monthly Servicer's Certificate, dated as of
December 31, 1998
FIRST AMENDMENT
TO
THE BA MASTER CREDIT CARD TRUST
POOLING AND SERVICING AGREEMENT
AND AMENDMENT TO THE SERIES SUPPLEMENTS
THIS FIRST AMENDMENT TO THE BA MASTER CREDIT CARD TRUST
POOLING AND SERVICING AGREEMENT AND AMENDMENT TO THE SERIES SUPPLEMENTS, dated
as of December 18, 1998 (the "First Amendment") is by and between BANK OF
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AMERICA NATIONAL ASSOCIATION, as Transferor and Servicer, and U.S. BANK NATIONAL
ASSOCIATION, as Trustee.
WHEREAS the Transferor and Servicer and the Trustee have
executed that certain Pooling and Servicing Agreement, dated as of July 19, 1996
(the "Pooling and Servicing Agreement"), and have executed those certain Series
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Supplements to the Pooling and Servicing Agreement (including the Series 1996-A
Supplement, dated as of July 19, 1996, the Series 1996-B Supplement, dated as of
October 11, 1996, the Series 1997-A Supplement, dated as of June 17, 1997, the
Series 1997-B Supplement, dated as of September 25, 1997, the Series 1997-C
Supplement, dated as of December 9, 1997, the Series 1998-A Supplement, dated as
of March 26, 1998, the Series 1998-B Supplement, dated as of May 7, 1998, and
the Series 1998-C Supplement, dated as of September 25, 1998, each as amended
from time to time, collectively referred to herein as the "Series Supplements");
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WHEREAS the Transferor and Servicer and the Trustee wish to
amend the Pooling and Servicing Agreement as provided herein;
NOW THEREFORE, in consideration of the promises and the
agreements contained herein, the parties hereto agree as follows:
Section 1. Amendment of Section 1.01.
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(a) The definition of "Permitted Investments" in Section 1.01
of the Pooling and Servicing Agreement shall be deleted in its entirety and
inserted in its place shall be the following:
"Permitted Investments" shall mean, unless otherwise provided
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in the Supplement with respect to any Series, (a) instruments, investment
property or other property consisting of (i) obligations of or fully guaranteed
by the United States of America; (ii) demand deposits, time deposits or
certificates of deposit of any depositary institution or trust company
incorporated under the laws of the United States of America or any state thereof
(or domestic branches of foreign depository institutions or trust companies) and
subject to supervision and examination by federal or state banking or depositary
institution authorities; provided, however, that at the time of the Trust's
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investment or contractual commitment to invest therein, the certificates of
deposit or short-term deposits of such depositary institution or trust company
shall have a credit rating from Fitch (if then rated by Fitch), Moody's and
Standard & Poor's of F1+, P-1 and A-1+, respectively; (iii) commercial paper,
bank notes or any other debt obligation having, at the time of the Trust's
investment or contractual commitment to invest therein, a rating from Fitch (if
then rated by Fitch), Moody's and Standard & Poor's of F1+, P-1 and A-1+,
respectively; (iv) bankers' acceptances issued by any depository institution or
trust company described in clause (a)(ii) above; and (v) repurchase agreements
transacted with either (A) an entity subject to the United States Bankruptcy
Code or (B) a financial institution insured by the FDIC or a broker-dealer with
retail customers that is under the jurisdiction of the Securities Investors
Protection Corp., in each case having a rating from Fitch (if then rated by
Fitch), Moody's and Standard & Poor's of F1+, P-1 and A-1+, respectively; (b)
demand deposits in the name of the Trust or the Trustee in any depositary
institution or trust company referred to in clause (a)(ii) above; (c) any other
investment if each Rating Agency confirms in writing that such investment will
not adversely affect its then current rating of the Investor Certificates,
provided that such investment will not cause the Trust to be treated as an
"investment company" within the meaning of the Investment Company Act of 1940,
as amended.
(b) The definition of "Shared Excess Finance Charge Collec-
tions" in Section 2 of each of the Series Supplements shall be deleted in its
entirety and inserted in its place shall be the following:
"Shared Excess Finance Charge Collections" shall mean, with
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respect to any Transfer Date, either (a) the amount allocated to the Investor
Certificates which may be applied (i) first, to the Series Finance Charge
Shortfall with respect to other outstanding Series in Shared Excess Finance
Charge Collections Group One and (ii) then, to the Series Finance Charge
Shortfall with respect to other outstanding Series in any Shared Excess Finance
Charge Group other than Shared Excess Finance Charge Collections Group One, or
(b) the sum of (i) the amounts allocated to the Investor Certificates of other
Series in Shared Excess Finance Charge Collections Group One which the
applicable Supplements for such Series specify are to be treated as "Shared
Excess Finance Charge Collections" and which may be applied pursuant to Section
4.11 with respect to the Investor Certificates on such Transfer Date and (ii)
the Intergroup Excess Finance Charge Collections with respect to such Transfer
Date.
(c) Each of the definitions of "Intergroup Excess Finance
Charge Collections" and "Shared Excess Finance Charge Collections Groups"
shall be added, in their appropriate alphabetical order, to Section 2 of each
of the Series Supplements and they shall read as follows:
"Intergroup Excess Finance Charge Collections" shall mean,
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with respect to any Transfer Date, the amounts allocated to the investor
certificates of Series in Shared Excess Finance Charge Collections Groups, other
than Shared Excess Finance Charge Collections Group One, which the applicable
Supplements for such Series specify are to be treated as "Shared Excess Finance
Charge Collections," to the extent available to be applied pursuant to Section
4.11 with respect to the Investor Certificates on such Transfer Date.
"Shared Excess Finance Charge Collections Groups" shall mean
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Shared Excess Finance Charge Collections Group One and any other Group
identified in any related Supplement as a Shared Excess Finance Charge
Collections Group.
Section 2. Amendment of Section 2.01. Section 2.01 of the
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Pooling and Servicing Agreement is hereby amended by adding the following
sentence at the end of the second paragraph thereof:
Notwithstanding any other provision of this Agreement, whenever this
Agreement provides for Receivables to be transferred to the Trust, such
transfer shall be made to the Trustee for the benefit of the Trust, and
all references to transfers to the Trust shall be read as references to
transfers to the Trustee for the benefit of the Trust.
Section 3. Amendment of Section 2.06. (a) The first
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paragraph of Subsection 2.06(d) of the Pooling and Servicing Agreement is
hereby amended by deleting such paragraph in its entirety and inserting in its
place the following:
Each Transferor agrees that any such transfer of Receivables
from Additional Accounts or Participations under subsections 2.06(a),
(b) or (c) shall satisfy the following conditions (to the extent
provided below; provided, however, that the conditions set forth below
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(other than the conditions to deliver a written assignment as set forth
in clause (ii), to represent and warrant as to the matters set forth in
clauses (iii) and (iv), and to receive notice from the Rating Agencies
as set forth in clause (vii) below) shall not apply to the transfer of
Automatic Additional Accounts):
(b) Subsection 2.06(d)(vii) of the Pooling and Servicing
Agreement is hereby amended by deleting such subsection in its entirety and
inserting in its place the following:
(vii) (A) with respect to accounts designated pursuant to
subsections 2.06(a), 2.06(b) and 2.06(c) in excess of the Maximum
Addition Amount and with respect to Participations, each Participating
Transferor shall have received notice from Standard & Poor's and
Moody's that the inclusion of such accounts as Additional Accounts or
the inclusion of such Participations to be included as property of the
Trust, as the case may be, will not result in the reduction or
withdrawal of its then existing rating of any Series of Investor
Certificates then issued and outstanding; and (B) with respect to
accounts not in excess of the Maximum Addition Amount designated
pursuant to subsections 2.06(a), 2.06(b) and 2.06(c) during the last
quarterly period (such quarterly period beginning on and including the
fifteenth day of January, April, July, and October and ending on but
excluding the fifteenth day of April, July, October, and January,
respectively), if applicable, each Participating Transferor shall have
received, to the extent not previously received, not later than twenty
days after the relevant quarterly period, notice from Standard & Poor's
and Moody's that the inclusion of such accounts as Additional Accounts
pursuant to subsections 2.06(a), 2.06(b) and 2.06(c) will not result in
the reduction or withdrawal of its then existing rating of any Series
of Investor Certificates then issued and outstanding; and
Section 4. Amendment of Section 2.07.
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(a) Subsection 2.07(b)(iv) of the Pooling and Servicing
Agreement is hereby amended by deleting such subsection in its entirety and
inserting in its place the following:
(iv) [Reserved];
(b) Subsection 2.07(b)(vi) of the Pooling and Servicing
Agreement is hereby amended by deleting such subsection in its entirety and
inserting in its place the following:
(vi) on any Removal Notice Date, the amount of the Principal
Receivables of the Removed Accounts to be reassigned to such Transferor
on the related Removal Date shall not equal or exceed 5% of the
aggregate amount of the Principal Receivables on such Removal Date;
provided, that if any Series has been paid in full, the Principal
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Receivables in such Removed Accounts shall not equal or exceed the sum
of (A) 5% of the aggregate amount of the Principal Receivables, after
giving effect to the removal of accounts pursuant to clause (B) below,
on such Removal Date plus (B) the Initial Investor Interest of such
Series that has been paid in full; and
Section 5. Amendment of Section 3.06.
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(a) Subsection 3.06(a) of the Pooling and Servicing Agreement
is hereby amended by deleting such section in its entirety and inserting in its
place the following:
(a) On or before March 31 of each calendar year,
beginning with March 31, 1999, the Servicer, on behalf of the Trust,
shall cause a firm of nationally recognized independent certified
public accountants (who may also render other services to the Servicer
or any Transferor) to furnish, as provided in Section 13.05, a report,
based upon established criteria that meets the standards applicable to
accountants' reports intended for general distribution, to the Trustee,
any Credit Enhancement Provider and each Rating Agency, attesting to
the fairness of the assertion of the Servicer's management that its
internal controls over the functions performed as Servicer of the Trust
are effective, in all material respects, in providing reasonable
assurance that Trust assets are safeguarded against loss from
unauthorized use or disposition, on the date of such report, and a
report attesting to the fairness of the assertion of the Servicer's
management that such servicing was conducted in conformity with the
sections of this Agreement during the period covered by such report
(which shall be the period from January 1 of the preceding calendar
year to and including December 31 of such calendar year), except for
such exceptions or errors as such firm shall believe to be immaterial
and such other exceptions as shall be set forth in such report. Unless
otherwise provided with respect to any Series in the related
Supplement, a copy of such report may be obtained by any Investor
Certificateholder by a request in writing to the Trustee addressed to
the Corporate Trust Office.
(b) Subsection 3.06(b) of the Pooling and Servicing Agreement
is hereby amended by deleting such section in its entirety and inserting in its
place the following:
(b) On or before March 31 of each calendar year,
beginning with March 31, 1999, the Servicer shall cause a firm of
nationally recognized independent certified public accountants (who may
also render other services to the Servicer or any Transferor) to
furnish as provided in Section 13.05 a report, prepared in accordance
with the standards established by the American Institute of Certified
Public Accountants, to the Trustee and each Rating Agency, to the
effect that they have compared the mathematical calculations of certain
amounts set forth in the monthly certificates forwarded by the Servicer
pursuant to Section 3.04(b) during the period covered by such report
(which shall be the period from January 1 of the preceding calendar
year to and including December 31 of such calendar year) with the
Servicer's computer reports which were the source of such amounts and
that, on the basis of such comparison, such firm is of the opinion that
such amounts are in agreement, except for such exceptions as shall be
set forth in such report. A copy of such report may be obtained from
the Trustee by any Investor Certificateholder by a request in writing
to the Trustee addressed to the Corporate Trust Office.
Section 6. Amendment of Section 4.02 and each of the Series
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Supplements.(a) With respect to the Finance Charge and Principal Accounts,
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Subsection 4.02(e) of the Pooling and Servicing Agreement is hereby amended by
deleting the third sentence thereof in its entirety, and (b) with respect to any
Series Account, each of the Series Supplements is hereby amended by deleting, in
each case where such sentences appear, the sentence "No Permitted Investment
shall be disposed of prior to its maturity." and the sentence immediately
preceding such sentence. In each such case, the sentence(s) deleted as described
in the preceding sentence shall be replaced with the following:
The Trustee shall:
(i) hold each Permitted Investment that constitutes investment
property through a securities intermediary, which securi-
ties intermediary shall agree with the Trustee that (I)
such investment property shall at all times be credited to
a securities account of the Trustee, (II) such securities
intermediary shall treat the Trustee as entitled to
exercise the rights that comprise each financial asset
credited to such securities account, (III) all property
credited to such securities account shall be treated as a
financial asset, (IV) such securities intermediary shall
comply with entitlement orders originated by the Trustee
without the further consent of any other person or entity,
(V) such securities intermediary shall not agree with any
person other than the Trustee to comply with entitlement
orders originated by such other person, (VI) such
securities intermediary waives any lien on, security
interest in, or right of set-off with respect to any
property credited to such securities account, and
(VII) such agreement shall be governed by the laws of the
State of New York; and
(ii)maintain possession of each other Permitted
Investment not described in clause (i) above;
provided, that no Permitted Investment shall be disposed of
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prior to its maturity date. Terms used in clause (i) above
that are defined in the New York UCC and not otherwise defined
herein shall have the meaning set forth in the New York UCC.
Section 7. Amendment to Section 4.11. Subsection 4.11(k) of
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the Pooling and Servicing Agreement (as set
forth in Section 7 of each of the Series 1996-A Supplement, the Series 1997-A
Supplement, the Series 1997-C Supplement, the Series 1998-A Supplement, the
Series 1998-B Supplement and the Series 1998-C Supplement and Section 6 of each
of the Series 1996-B Supplement and the Series 1997-B Supplement) is hereby
amended by deleting such subsection in its entirety and inserting in its place
the following:
(k) the balance, if any, will constitute a portion of Shared
Excess Finance Charge Collections for such Transfer Date and will be available
for allocation (1) first, to other Series in Shared Excess Finance Charge
Collections Group One, (2) then, to the extent not required to be applied
pursuant to subsection 4.11(k)(1), to Series in any Shared Excess Finance Charge
Collections Group other than Shared Excess Finance Charge Collections Group One,
and (3) to the extent not required to be applied pursuant to subsections
4.11(k)(1) or (2), shall be distributed to the Holder of the Transferor
Certificate.
Section 8. Amendment to Section 4.13. Section 4.13 of the
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Pooling and Servicing Agreement (as set forth in Section 7 of each of the
Series 1996-A Supplement, the Series 1997-A Supplement, the Series 1997-C
Supplement, the Series 1998-A Supplement, the Series 1998-B Supplement and
the Series 1998-C Supplement and Section 6 of each of the Series 1996-B
Supplement and the Series 1997-B Supplement) is hereby amended by deleting
such Section in its entirety and inserting in its place the following:
SECTION 4.13 Shared Excess Finance Charge Collections.
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(a) Subject to subsections 4.13(c) and (d) below, the portion
of Shared Excess Finance Charge Collections on deposit in the Finance Charge
Account equal to the amount of Shared Excess Finance Charge Collections
allocable to the Investor Certificates on any Transfer Date shall be applied
as Shared Excess Finance Charge Collections pursuant to Section 4.11 and
pursuant to such Section 4.11 shall be deposited in the Distribution Account
or to the extent not needed to make distributions pursuant to Section 4.11,
shall be paid to the Holder of the Transferor Certificate.
(b) Subject to subsections 4.13(c) and (d) below, Shared
Excess Finance Charge Collections allocable to the Investor Certificates with
respect to any Transfer Date shall mean an amount equal to the Series Finance
Charge Shortfall, if any, with respect to the Investor Certificates for such
Transfer Date; provided, however, that if the aggregate amount of Shared Excess
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Finance Charge Collections identified in clauses (b)(i) and (ii) of the
definition of Shared Excess Finance Charge Collections for all Series in Shared
Excess Finance Charge Collections Group One for such Transfer Date is less than
the Cumulative Series Finance Charge Shortfall for such Transfer Date, then
Shared Excess Finance Charge Collections identified in clause (b)(i) of the
definition of Shared Excess Finance Charge Collections allocable to the Investor
Certificates on such Transfer Date shall equal the product of (i) Shared Excess
Finance Charge Collections identified in clause (b)(i) of the definition of
Shared Excess Finance Charge Collections for all Series in Shared Excess Finance
Charge Collections Group One for such Transfer Date and (ii) a fraction, the
numerator of which is the Series Finance Charge Shortfall with respect to the
Investor Certificates for such Transfer Date and the denominator of which is the
aggregate amount of Cumulative Series Finance Charge Shortfall for all Series in
Shared Excess Finance Charge Collections Group One for such Transfer Date;
provided, further, however, that if the aggregate amount available to be applied
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as Intergroup Excess Finance Charge Collections for all Series in all Shared
Excess Finance Charge Collections Groups for such Transfer Date is less than the
sum of the Cumulative Series Finance Charge Shortfalls (as such term is defined
in the related Supplements for all Series in a Shared Excess Finance Charge
Collections Group and calculated after giving effect to the application of any
other Shared Excess Finance Charge Collections available to such Series on such
Transfer Date) for such Transfer Date, then the Intergroup Excess Finance Charge
Collections for such Transfer Date allocable to the Investor Certificates on
such Transfer Date shall equal the product of (i) the aggregate amount available
to be applied as Intergroup Excess Finance Charge Collections for all Series in
all Shared Excess Finance Charge Collections Groups for such Transfer Date and
(ii) a fraction, the numerator of which is the Series Finance Charge Shortfall
with respect to the Investor Certificates for such Transfer Date and the
denominator of which is the aggregate amount of Cumulative Series Finance Charge
Shortfalls (as such term is defined in the related Supplements for all Series in
a Shared Excess Finance Charge Collections Group and calculated after giving
effect to the application of any other Shared Excess Finance Charge Collections
available to such Series on such Transfer Date) for all Series in all Shared
Excess Finance Charge Collections Groups for such Transfer Date.
(c) Notwithstanding anything else in the Agreement to the
contrary, the provisions of this Section 4.13 applicable to that portion of
Shared Excess Finance Charge Collections consisting of Intergroup Excess Finance
Charge Collections shall terminate at, and the application of Intergroup Excess
Finance Charge Collections among the Series within the Shared Excess Finance
Charge Collections Groups shall continue only until, such time, if any, at which
the Transferor shall deliver to the Trustee an Officer's Certificate to the
effect that, in the reasonable belief of the Transferor, the continued
application of Intergroup Excess Finance Charge Collections (as such term is
defined in the related Supplements for all Series in a Shared Excess Finance
Charge Collections Group) among the Series within the Shared Excess Finance
Charge Collections Groups would have adverse regulatory implications with
respect to the Transferor. Following the delivery by the Transferor of such an
Officer's Certificate to the Trustee, there will not be any further application
of Intergroup Excess Finance Charge Collections among the Series within the
Shared Excess Finance Charge Collections Groups.
(d) Notwithstanding anything else in this Agreement to the
contrary, the provisions of this Section 4.13 shall terminate at, and the
application of Shared Excess Finance Charge Collections among the Series within
Shared Excess Finance Charge Collections Group One shall continue only until,
such time, if any, at which the Transferor shall deliver to the Trustee an
Officer's Certificate to the effect that, in the reasonable belief of the
Transferor, the continued application of Shared Excess Finance Charge
Collections among the Series within Shared Excess Finance Charge Collections
Group One would have adverse regulatory implications with respect to the
Transferor. Following the delivery by the Transferor of such an Officer's
Certificate to the Trustee, there will not be any further application of Shared
Excess Finance Charge Collections among the Series within Shared Excess Finance
Charge Collections Group One.
Section 9. Amendment of Section 12.03. Subsection 12.03(a) of
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the Pooling and Servicing Agreement is hereby amended by deleting the second
sentence thereof in its entirety and inserting in its place the following:
The Servicer shall also deliver to the Trustee, as soon as is
practicable but in any event not later than three Business Days after
the Determination Date relating to the final payment described in the
preceding sentence, an Officers' Certificate setting forth the
information, to the extent available, specified in Article V of this
Agreement covering the period during the then current calendar year
through the date of such notice and setting forth the date of such
final distribution.
Section 10. Effectiveness. The amendments provided for by
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this First Amendment shall become effective upon receipt by the Trustee of the
following, each of which shall be satisfactory to the Trustee in its sole
discretion, except as otherwise provided:
(a) Notification in writing from each of Fitch IBCA, Inc.
(as successor to Fitch), Moody's and Standard & Poor's to the effect that the
terms of this First Amendment will not result in a reduction or withdrawal
of the rating of any outstanding Series or Class to which it is a Rating Agency.
(b) Confirmation from the Transferor and Servicer that it has
received a copy of the written notification referred to in subsection 7(a)
above and that such written notification is satisfactory to the Transferor and
Servicer in its sole discretion.
(c) An Officer's Certificate from the Transferor addressed
and delivered to the Trustee certifying that this First Amendment shall
not adversely affect in any material respect the interests of any Investor
Certificateholder.
(d) An Officer's Certificate from the Transferor addressed
and delivered to each of the Agents under the outstanding Loan Agreements
certifying that this First Amendment shall not adversely affect in any material
respect the interests of any Agent or any Collateral Interest Holder.
(e) Counterparts of this First Amendment, duly executed by
the parties hereto.
Section 11. Pooling and Servicing Agreement in Full Force and
-------------------------------------------------
Effect as Amended. Except as specifically amended or waived hereby, all of the
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terms and conditions of the Pooling and Servicing Agreement shall remain in full
force and effect. All references to the Pooling and Servicing Agreement in any
other document or instrument shall be deemed to mean such Pooling and
Servicing Agreement as amended by this First Amendment. This First Amendment
shall not constitute a novation of the Pooling and Servicing Agreement,
but shall constitute an amendment thereof. The parties hereto agree to be
bound by the terms and obligations of the Pooling and Servicing Agreement, as
amended by this First Amendment, as though the terms and obligations of the
Pooling and Servicing Agreement were set forth herein.
Section 12. Counterparts. This First Amendment may be
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executed in any number of counterparts and by separate parties hereto on
separate counterparts, each of which when executed shall be deemed an original,
but all such counterparts taken together shall constitute one and the same
instrument.
Section 13. Governing Law. This First Amendment shall be
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construed in accordance with the laws of the State of New York, without
reference to its conflict of law provisions, and the obligations, rights and
remedies of the parties hereunder shall be determined in accordance with such
laws.
Section 14. Defined Terms and Section References. Capitalized
------------------------------------
terms used herein and not otherwise defined shall have the meanings assigned to
such terms in the Pooling and Servicing Agreement or the Series Supplements,
as applicable. All section or subsection references herein shall mean
sections or subsections of the Pooling and Servicing Agreement, except as
otherwise provided herein.
<PAGE>
IN WITNESS WHEREOF, the Transferor, the Servicer and the
Trustee have caused this First Amendment to be duly executed by their respective
officers as of the day and year first above written.
BANK AMERICA NATIONAL ASSOCIATION,
Transferor and Servicer
By:/s/ MARGARET A. SPRUDE
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Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
U.S. BANK NATIONAL ASSOCIATION,
Trustee
By:/s/ LYNN M. STEINER
------------------------------------
Name: Lynn M. Steiner
Title: Assistant Vice President
MONTHLY SERIES 1996-A CERTIFICATEHOLDERS' STATEMENT
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Series 1996-A
BANK OF AMERICA NATIONAL ASSOCIATION
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BA MASTER CREDIT CARD TRUST
- --------------------------------------------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of JANUARY 15, 1998, and with respect to the performance of
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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
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Basis of $1,000 Original Certificate Principal Amount)
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1. The amount of the current monthly distribution
in respect of Class A Monthly Principal...........$ 0.00000
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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............$ 4.87860
----------------
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............$ 5.01638
----------------
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.........$ 5.11110
----------------
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..................................$ 62,715,292.06
----------------
(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..................................$ 4,767,829.22
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 5,868,097.50
----------------
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........................$6,643,099,213.99
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1996-A as of the end
of the day on the last day of the related
Monthly Period................................$ 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......... 7.5806%
----------------
(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 $108,080,998.55 1.5998%
(b) 61 - 90 days $ 68,380,433.02 1.0122%
(c) 91 - or more days $126,675,983.85 1.8751%
Total....................... $303,137,415.42 4.4871%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 3,324,787.89
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 2,842,693.65
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 216,111.21
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 265,983.03
----------------
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...........$ 7,286,661.71
----------------
(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...................$ 553,956.74
----------------
(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...........................$ 681,792.89
----------------
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.................................$ 7,286,661.71
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 553,956.74
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 681,792.89
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 13.4744%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 5.0870%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.53547%
----------------
2. Class A Certificate Rate........................... 5.66547%
----------------
Class B Certificate Rate........................... 5.82547%
----------------
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 December 31, 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................$ 73,351,218.78
--------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 7,883,773.24
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 1,055,304.77
--------------
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................................... $ 8,522,411.34
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1996-A Certificates...................................$ 73,351,218.78
--------------
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.........................$ 2,085,601.14
--------------
(ii) Class B Certificateholders.........................$ 163,032.25
--------------
(iii)Collateral Interest Holder.........................$ 204,443.97
--------------
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.........................$ 2,085,601.14
--------------
(ii) Class B Certificateholders ........................$ 163,032.25
--------------
(iii)Collateral Interest Holder.........................$ 204,443.97
--------------
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 11th day of JANUARY, 1999.
-------------------------
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 December 31, 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).............$1,068,243,594.44
-----------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to......................................$ 87,773,871.93
--------------
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)...............$ 7,841,810.39
--------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period................................$1,157,874,995.80
----------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ..........................................................$ 8,939,078.01
--------------
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...........................................................$ 73,351,218.78
--------------
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.........................................................$ 73,351,218.78
--------------
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.........................................................$ 41,962.85
--------------
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...................$ 1,055,304.77
--------------
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..........................................$ 2,453,077.36
--------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.........................$ 43,859,165.36
--------------
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 11th day of JANUARY, 1999.
--------------------------
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 JANUARY 15, 1999, 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............$ 4.86138
----------------
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............$ 5.01638
----------------
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.........$ 5.15415
----------------
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..................................$ 95,174,043.35
----------------
(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..................................$ 6,051,528.76
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 8,802,223.68
----------------
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........................$6,643,099,213.99
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1997-A as of the end
of the day on the last day of the related
Monthly Period................................$ 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......... 11.3710%
----------------
(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 $108,080,998.55 1.5998%
(b) 61 - 90 days $ 68,380,433.02 1.0122%
(c) 91 - or more days $126,675,983.85 1.8751%
Total....................... $303,137,415.42 4.4871%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 4,987,225.69
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 4,313,950.22
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 274,297.41
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 398,978.06
----------------
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...........$ 11,057,930.73
----------------
(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...................$ 703,105.42
----------------
(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...........................$ 1,022,698.80
----------------
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.................................$ 11,057,930.73
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 703,105.42
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 1,022,698.80
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 13.4744%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 5.1024%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.53547%
----------------
2. Class A Certificate Rate........................... 5.64547%
----------------
Class B Certificate Rate........................... 5.82547%
----------------
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 December 31, 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................$110,027,795.79
--------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 11,825,763.87
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 1,582,971.08
--------------
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................................... $ 12,783,734.95
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1997-A Certificates...................................$110,027,795.79
--------------
7. The aggregate amount of funds on deposit in
the Principal Funding Account allocable to
the Series 1997-A Certificates.........................$ 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.........................$ 3,153,818.29
--------------
(ii) Class B Certificateholders.........................$ 206,925.55
--------------
(iii)Collateral Interest Holder.........................$ 309,249.28
--------------
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.........................$ 3,153,818.29
--------------
(ii) Class B Certificateholders ........................$ 206,925.55
--------------
(iii)Collateral Interest Holder.........................$ 309,249.28
--------------
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 11th day of JANUARY, 1999.
--------------------------
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 December 31, 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).............$1,068,243,594.44
-----------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to......................................$131,661,965.77
--------------
7. The Aggregate Investor Percentage of
Collections of Finance Charge Receivables processed by the
Servicer during the preceding Monthly Period was equal to
(excluding Annual Membership Fees and Interchange)...............$ 11,762,819.03
--------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period................................$1,157,874,995.80
----------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ..........................................................$ 13,408,734.95
--------------
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...........................................................$110,027,795.79
--------------
11. The aggregate amount, if any, of
withdrawals, drawings or payments under any Credit
Enhancement, if any, required to be made with respect to
any Series outstanding for the preceding Monthly Period..........$ 0.00
--------------
12. The Aggregate Investor Percentage
of Collections of Principal Receivables processed
by the Servicer during the related Monthly Period is
equal to.........................................................$110,027,795.79
--------------
13. The amount equal to the Aggregate
Investor Percentage of Annual Membership Fees deposited
to the Finance Charge Account or any Series Account on
or before the Transfer Date during the current month is
equal to.........................................................$ 62,944.84
--------------
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...................$ 1,582,971.08
--------------
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..........................................$ 3,669,993.12
--------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.........................$ 43,859,165.36
--------------
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 11th day of JANUARY, 1999.
-------------------------
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 JANUARY 15, 1999, 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............$ 4.86138
----------------
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............$ 4.99915
----------------
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.........$ 5.19721
----------------
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..................................$ 95,174,043.35
----------------
(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..................................$ 6,051,528.76
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 8,802,223.68
----------------
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........................$6,643,099,213.99
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1997-A as of the end
of the day on the last day of the related
Monthly Period................................$ 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......... 11.3710%
----------------
(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 $108,080,998.55 1.5998%
(b) 61 - 90 days $ 68,380,433.02 1.0122%
(c) 91 - or more days $126,675,983.85 1.8751%
Total....................... $303,137,415.42 4.4871%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 4,987,225.69
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 4,313,950.22
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 274,297.41
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 398,978.06
----------------
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...........$ 11,057,930.73
----------------
(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...................$ 703,105.42
----------------
(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...........................$ 1,022,698.80
----------------
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.................................$ 11,057,930.73
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 703,105.42
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 1,022,698.80
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 13.4744%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 5.0994%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.53547%
----------------
2. Class A Certificate Rate........................... 5.64547%
----------------
Class B Certificate Rate........................... 5.80547%
----------------
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 December 31, 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................$110,027,795.79
--------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 11,825,763.87
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 1,582,971.08
--------------
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
1998-A Certificates................................... $ 12,783,734.95
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1998-A Certificates...................................$110,027,795.79
--------------
7. The aggregate amount of funds on deposit in
the Principal Funding Account allocable to
the Series 1998-A Certificates.........................$ 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.........................$ 3,153,818.29
--------------
(ii) Class B Certificateholders.........................$ 206,215.13
--------------
(iii)Collateral Interest Holder.........................$ 311,832.62
--------------
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.........................$ 3,153,818.29
--------------
(ii) Class B Certificateholders ........................$ 206,215.13
--------------
(iii)Collateral Interest Holder.........................$ 311,832.62
--------------
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 11th day of JANUARY, 1999.
-------------------------
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 December 31, 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).............$1,068,243,594.44
----------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to......................................$131,661,965.77
--------------
7. The Aggregate Investor Percentage of
Collections of Finance Charge Receivables processed by the
Servicer during the preceding Monthly Period was equal to
(excluding Annual Membership Fees and Interchange)...............$ 11,762,819.03
--------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period................................$1,157,874,995.80
----------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ..........................................................$ 13,408,734.95
--------------
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...........................................................$110,027,795.79
--------------
11. The aggregate amount, if any, of
withdrawals, drawings or payments under any Credit
Enhancement, if any, required to be made with respect to
any Series outstanding for the preceding Monthly Period..........$ 0.00
--------------
12. The Aggregate Investor Percentage
of Collections of Principal Receivables processed
by the Servicer during the related Monthly Period is
equal to.........................................................$110,027,795.79
--------------
13. The amount equal to the Aggregate
Investor Percentage of Annual Membership Fees deposited
to the Finance Charge Account or any Series Account on
or before the Transfer Date during the current month is
equal to.........................................................$ 62,944.84
--------------
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...................$ 1,582,971.08
--------------
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..........................................$ 3,671,866.04
--------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.........................$ 43,859,165.36
--------------
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 11th day of JANUARY, 1999.
--------------------------
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-B CERTIFICATEHOLDERS' STATEMENT
---------------------------------------------------
Series 1998-B
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 JANUARY 15, 1999, 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............$ 4.86999
----------------
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............$ 5.00777
----------------
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.........$ 5.26179
----------------
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..................................$ 95,174,043.35
----------------
(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..................................$ 6,051,528.76
----------------
(c) The aggregate amount of Collections of
Principal Receivables processed during
the related Monthly Period which were
allocated in respect of the Collateral
Interest......................................$ 8,802,223.68
----------------
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........................$6,643,099,213.99
----------------
(b) The amount of Principal Receivables in
the Trust represented by the Investor
Interest of Series 1997-A as of the end
of the day on the last day of the related
Monthly Period................................$ 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......... 11.3710%
----------------
(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 $108,080,998.55 1.5998%
(b) 61 - 90 days $ 68,380,433.02 1.0122%
(c) 91 - or more days $126,675,983.85 1.8751%
Total....................... $303,137,415.42 4.4871%
4. Investor Default Amount
-----------------------
(a) The Aggregate Investor Default Amount
for the related Monthly Period................$ 4,987,225.69
----------------
(b) The Class A Investor Default Amount
for the related Monthly Period................$ 4,313,950.22
----------------
(c) The Class B Investor Default Amount
for the related Monthly Period................$ 274,297.41
----------------
(d) The Collateral Default Amount for
the related Monthly Period....................$ 398,978.06
----------------
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...........$ 11,057,930.73
----------------
(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...................$ 703,105.42
----------------
(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...........................$ 1,022,698.80
----------------
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.................................$ 11,057,930.73
----------------
(b) The amount of Class B Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 703,105.42
----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance
Charge Account on the related
Transfer Date.................................$ 1,022,698.80
----------------
12. Portfolio Yield
---------------
(a) The Portfolio Yield (Net) for the
related Monthly Period........................ 13.4744%
----------------
(b) The Portfolio Adjusted Yield for
the related Monthly Period.................... 5.0837%
----------------
C. Floating Rate Determinations
----------------------------
1. LIBOR for the Interest Period ending on
this Distribution Date............................. 5.53547%
----------------
Class A Certificate Rate.......................... 5.65547%
----------------
Class B Certificate Rate.......................... 5.81547%
----------------
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 December 31, 1998
-----------------
BANK OF AMERICA NATIONAL ASSOCIATION
BA MASTER CREDIT CARD TRUST SERIES 1998-B
1. The aggregate amount of the Investor Percentage
of Collections of Principal Receivables.............. $110,027,795.79
---------------
2. The aggregate amount of the Investor Percentage
of Collections of Finance Charge Receivables
(excluding Interchange)................................$ 11,825,763.87
--------------
3. The aggregate amount of the Investor Percentage
of Interchange.........................................$ 1,582,971.08
--------------
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
1998-A Certificates................................... $ 12,783,734.95
--------------
6. The aggregate amount of funds on deposit in
the Principal Account allocable to the Series
1998-A Certificates...................................$110,027,795.79
--------------
7. The aggregate amount of funds on deposit in
the Principal Funding Account allocable to
the Series 1998-A Certificates.........................$ 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.........................$ 3,159,404.75
--------------
(ii) Class B Certificateholders.........................$ 206,570.34
--------------
(iii)Collateral Interest Holder.........................$ 315,707.62
--------------
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.........................$ 3,159,404.75
--------------
(ii) Class B Certificateholders ........................$ 206,570.34
--------------
(iii)Collateral Interest Holder.........................$ 315,707.62
--------------
14. To the knowledge of the undersigned, no Series
1998-B 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 11th day of JANUARY, 1999.
--------------------------
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-B only)
Monthly Period Ending December 31, 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).............$1,068,243,594.44
----------------
6. The Aggregate Investor Percentage of
Receivables processed by the Servicer during the preceding
Monthly Period was equal to....................................$ 131,661,965.77
----------------
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 Interhcange).............$ 11,762,819.03
----------------
8. The aggregate amount of Receivables
processed by the Servicer as of the end of the last day
of the preceding Monthly Period................................$1,157,874,995.80
----------------
9. Of the balance on deposit in the
Finance Charge Account, the amount attributable to
the Aggregate Investor Percentage of Collections
processed by the Servicer during the preceding Monthly
Period ........................................................$ 13,408,734.95
----------------
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.........................................................$ 110,027,795.79
----------------
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.......................................................$ 110,027,795.79
----------------
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.......................................................$ 62,944.84
----------------
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.................$ 1,582,971.08
----------------
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........................................$ 3,681,682.71
----------------
17. The aggregate amount of Default
Amounts processed by the Servicer as of the end of the
last day of the preceding Monthly Period.......................$ 43,859,165.36
----------------
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 11th day of JANUARY, 1999.
-------------------------
BANK OF AMERICA NATIONAL ASSOCIATION
Transferor and Servicer
By: /s/ MARGARET A. SPRUDE
-----------------------------
Name: Margaret A. Sprude
Title: SVP & Chief Financial Officer
