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): June 16,1997
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
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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 June 16,1997. 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 June 16, 1997.
Principal Interest Ending Balance
Cede & Co. $ 3,626,537.26 $1,032,690.59 $193,702,875.35
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 June 16, 1997
Lehman ABS Corporation Date of Report: 6/24/97
Banc One Home Equity Loan Trust 1996-A Time of Report: 2:17 PM
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: 6/16/97
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER
$1000 ORIGINAL PRINCIPAL AMOUNT)
A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed 4.447974
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 15.620113
Principal Distribution Amount 15.620113
Maximum Principal Payment 27.416926
Alternative Principal Payment 15.620113
Principal Collections less Additional Balances 15.620113
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)
20.068087
B. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance 197,329,412.61
Ending Investor Certificate Balance 193,702,875.35
Beginning Invested Amount 198,513,961.14
Ending Invested Amount 194,887,423.88
Investor Certificateholder Floating Allocation Percentage
97.6688%
Pool Factor 0.8343112
Liquidation Loss Amount for Liquidated Loans 0.00
Unreimbursed Liquidation Loss Amount 0.00
C. POOL INFORMATION
Beginning Pool Balance 203,252,155.25
Ending Pool Balance 199,625,617.99
Servicing Fee 110,094.92
D. INVESTOR CERTIFICATE RATE
Investor Certificate Rate 5.887500%
LIBOR Rate 5.687500%
Maximum Rate 8.917151%
E. DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts 80
Trust Balances 3,289,556.16
Delinquent 60-89 days
No. of Accounts 13
Trust Balances 458,096.64
Delinquent 90+ days
No. of Accounts 31
Trust Balances 1,081,311.07
Delinquent 9+ Months
No. of Accounts 1
Trust Balances 20,293
REO
No. of Accounts 0
Trust Balances 0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 6/16/97
IN WITNESS WHEREOF, the undersigned has caused this Certificate
to be duly executed this 10th day of June, 1997
" Bank One, NA"
as Servicer
_______________________________________
John Jaeger
Assistant Vice President
Distribution List:
Barbara Grosse - First National Bank of Chicago
Aadit Seshasayee - Lehman Brothers
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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: June 30, 1997