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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 17, 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 Offices) (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 pursuat 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 November 17, 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 November 17, 1997.
Principal Interest Ending Balance
Cede & Co. $ 3,602,608.96 $955,829.73 $175,405,689.36
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
Item 7. Monthly Statements and Exhibits
Exhibit No.
1. Monthly Statement to Certificateholders dated November 17, 1997
Lehman ABS Corporation Date of Report:
11/25/97
Banc One Home Equity Loan Trust 1996-A
Time of Report: 9:19 AM
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: 11/17/97
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER
$1000 ORIGINAL PRINCIPAL AMOUNT)
A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed
4.116921
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
15.517050
Principal Distribution Amount 15.517050
Maximum Principal Payment 26.713192
Alternative Principal Payment 15.517050
Principal Collections less Additional Balances
15.517050
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)
19.633971
B. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance
"179,008,298.32 "
Ending Investor Certificate Balance
"175,405,689.36 "
Beginning Invested Amount
"180,192,846.85 "
Ending Invested Amount "176,590,237.89"
Investor Certificateholder Floating Allocation Percentage
97.4379%
Pool Factor 0.7555021
Liquidation Loss Amount for Liquidated Loans
0.00
Unreimbursed Liquidation Loss Amount
0.00
C. POOL INFORMATION
Beginning Pool Balance "184,931,040.96"
Ending Pool Balance "181,328,432.00"
Servicing Fee "100,170.98 "
D. INVESTOR CERTIFICATE RATE
Investor Certificate Rate 5.825000%
LIBOR Rate 5.625000%
Maximum Rate 9.030773%
E. DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts 56
Trust Balances "2,444,743.87 "
Delinquent 60-89 days
No. of Accounts 13
Trust Balances "464,468.48 "
Delinquent 90+ days
No. of Accounts 32
Trust Balances "1,330,553.18 "
Delinquent 9+ Months
No. of Accounts 3
Trust Balances "65,095 "
REO
No. of Accounts 0
Trust Balances 0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 11/17/97
"IN WITNESS WHEREOF, the undersigned has caused this Certificate
to be duly executed"
"this 10th day of November, 1997"
" Bank One, NA"
as Servicer
_______________________________________
Kimberly Workman
Officer
Distribution List:
Barbara Grosse - First National Bank of Chicago
Aadit Seshasayee - Lehman Brothers
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: November 30, 1997
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