<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securiites Exchange Act of 1934
Date of Report (date of earliest event reported): January 15, 1997
BANC ONE HOME EQUITY LOAN TRUST 1996-A
--------------------------------------
(Exact name of registrant as specified in its charter)
New York 333-03911-01 36-7151628
- ----------------------------- ------------ ----------
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number Identification No.)
c/o The First National Bank of Chicago
- --------------------------------------
Corporate Trust Services Division-9th floor
- --------------------------------------------
1 N. State Street, Chicago, IL 60670-0126
- -------------------------------- ----------
(Address of Principal Executive Offfices) (Zip Code)
Registrant's telephone number, including area code: 312/407-1902
------------
<PAGE>
Item 5. Other Events
------------
On behalf of Banc One Home Equity Loan Trust 1996-A, a Trust created
pursuant to the Pooling Agreement, dated June 7, 1996, by The First
National Bank of Chicago, as trustee for the Trust, the Trustee has
caused to be filed with the Commission, the Monthly Report dated
January 15, 1997. The Monthly Report is filed pursuant to and in
accordance with (1) numerous no-action letters (2) current Commission
policy in the area. The filing of the Monthly Report will occur
subsequent to each monthly distribution to the holders of the Trust's
Investor Certificates, Due May 15, 2021.
A. Monthly Report Information:
Aggregate distribution information for the current distribution
date January 15, 1997.
Principal Interest Ending Balance
--------- -------- --------------
Cede & Co. $2,872,270.23 $1,026,541.87 $209,315,587.84
B. No delinquency in payment under the Transferor Certificate, or
the Financial Guaranty Insurance Policy has occurred.
C. Have any deficiencies occurred? NO.
Date:
Amount:
D. Were any amounts paid or are any amounts payable under the
Financial Guaranty Insurance Policy? NO
Amount:
E. Are there any developments with respect to the Financial Guaranty
Insurance Policy? NONE.
F. Item 1: Legal Proceedings: NONE
G. Item 2: Changes in Securities: NONE
H. Item 4: Submission of Matters to a Vote of Security Holders:
NONE
I. Item 5: Other Information - Items 1, 2, 4, 5 if applicable:
NOT APPLICABLE
<PAGE>
Item 7. Monthly Statements and Exhibits
-------------------------------
Exhibit No.
-----------
1. Monthly Statement to Certificateholders dated January 15, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BANC ONE HOME EQUITY LOAN TRUST 1996-A
By _____________________________________
Name: Barbara Grosse
Title: Assistant Vice President
Dated: January 31, 1997
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Lehman ABS Corporation Date of Report: 1/09/97
Banc One Home Equity Loan Trust 1996-A Time of Report: 8:08 AM Page 11
P & S Agreement Date: June 7, 1996
Original Settlement Date: June 27, 1996
Series Number of Certificates:
Original Collateral Sale Balance $236,909,705.69
====================================================================================================================================
Statement to Certificateholders (Page 1 of 2)
---------------------------------------------
Distribution Date: 1/15/97
-------
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT)
A.INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed 4.421490
Investor Certificate Interest Shortfall Distributed 0.000000
Remaining Unpaid Investor Certificate Interest Shortfall 0.000000
Managed Amortization Period ? (Yes=1; No=0) 1
Investors Certificate Principal Distributed 12.371357
Principal Distribution Amount 12.371357
Maximum Principal Payment 25.317455
Alternative Principal Payment 12.371357
Principal Collections less Additional Balances 12.371357
Investor Loss Amount Distributed to Investors 0.000000
Accelerated Principal Distribution Amount 0.000000
Credit Enhancement Draw Amount 0.00
Total Amount Distributed to Certificateholders (P & I) 16.792847
B.INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance 212,187,858.07
Ending Investor Certificate Balance 209,315,587.84
Beginning Invested Amount 213,372,406.60
Ending Invested Amount 210,500,136.37
Investor Certificateholder Floating Allocation Percentage 97.8276%
Pool Factor 0.9015579
Liquidation Loss Amount for Liquidated Loans 0.00
Unreimbursed Liquidation Loss Amount 0.00
C.POOL INFORMATION
Beginning Pool Balance 218,110,600.71
Ending Pool Balance 215,238,330.48
Servicing Fee 118,143.24
D.INVESTOR CERTIFICATE RATE
Investor Certificate Rate 5.805470%
LIBOR Rate 5.605470%
Maximum Rate 8.170915%
E.DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts 106
Trust Balances 4,012,737.24
Delinquent 60-89 days
No. of Accounts 19
Trust Balances 737,889.73
Delinquent 90+ days
No. of Accounts 24
Trust Balances 920,399.87
Delinquent 9+ Months
No. of Accounts 0
Trust Balances 0
REO
No. of Accounts 0
Trust Balances 0.00
====================================================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Lehman ABS Corporation Date of Report: 1/09/97
Banc One Home Equity Loan Trust 1996-A Time of Report: 8:08 AM Page 12
P & S Agreement Date: June 7, 1996
Original Settlement Date: June 27, 1996
Series Number of Certificates:
Original Collateral Sale Balance $236,909,705.69
====================================================================================================================================
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 1/15/97
-------
IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed
this 9th day of January, 1997
Bank One, Columbus
as Servicer
/s/ John Jaeger
------------------------------------------------------
John Jaeger
Controller
Distribution List:
------------------
Barbara Grosse - First National Bank of Chicago
Aadit Seshasayee - Lehman Brothers
Paul Marsilo - Lehman Brothers
====================================================================================================================================
</TABLE>
