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EXHIBIT 20.1
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CLASS A CUSIP 337365 AA8 EXHIBIT C
CLASS B CUSIP 337365 AB6
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
SERIES 1996-1
MBNA AMERICA BANK, NATIONAL ASSOCIATION
FIRST UNION MASTER CREDIT CARD TRUST
--------------------------------------------
MONTHLY PERIOD ENDING DECEMBER 31, 2000
--------------------------------------------
The information which is required to be prepared with respect to the
Distribution Date of January 16, 2001, and with respect to the performance of
the trust during the month of December, 2000 is set forth below.
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).
<TABLE>
<S> <C>
1. The amount of distribution in respect
of Class A Monthly Principal $ 0.000000
-----------------
2. The amount of distribution in respect
of Class B Monthly Principal $ 0.000000
-----------------
3. The amount of distribution in respect
of Collateral Monthly Principal $ 40.179698
-----------------
4. The amount of distribution in respect
of Class A Monthly Interest $ 6.115556
-----------------
5. The amount of distribution in respect
of Class A Deficiency Amounts $ 0.000000
-----------------
6. The amount of distribution in respect
of Class A Additional Interest $ 0.000000
-----------------
7. The amount of distribution in respect
of Class B Monthly Interest $ 6.222222
-----------------
</TABLE>
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<TABLE>
<S> <C>
8. The amount of distribution in respect
of Class B Deficiency Amounts $ 0.000000
-----------------
9. The amount of distribution in respect
of Class B Additional Interest $ 0.000000
-----------------
10. The amount of distribution in respect
of Collateral Monthly Interest $ 2.033991
-----------------
11. The amount of distribution in respect
of any accrued and unpaid Collateral
Monthly Interest $ 0.000000
-----------------
</TABLE>
B. Information Regarding the Performance of the Trust
<TABLE>
<CAPTION>
1. COLLECTION OF PRINCIPAL RECEIVABLES
-----------------------------------
<S> <C>
(a) The aggregate amount of Collections
of Principal Receivables processed
during the related Monthly Period
which were allocated in respect of
the Class A Certificates $ 83,415,557.55
-----------------
(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 $ 6,548,541.57
-----------------
(c) The aggregate amount of Collections
of Principal Receivables processed
during the related Monthly Period
which were allocated in respect of
the Collateral Interest $ 10,826,209.01
-----------------
</TABLE>
<TABLE>
<CAPTION>
2. PRINCIPAL RECEIVABLES IN THE TRUST
----------------------------------
<S> <C>
(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 $ 1,985,388,136.96
-----------------
(b) The amount of Principal Receivables
in the Trust represented by the
Investor Interest of Series 1996-1
as of the end of the day on the last
day of the related Monthly Period $ 1,033,544,257.00
-----------------
</TABLE>
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<TABLE>
<S> <C>
(c) The amount of Principal Receivables
in the Trust represented by the
Adjusted Investor Interest of Series
1996-1 as of the end of the day on the
last day of the related Monthly Period $ 342,131,821.00
-----------------
(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 $ 920,000,000.00
-----------------
(e) The amount of Principal Receivables
in the Trust represented by the
Class A Adjusted Investor Interest
as of the end of the day on the last
day of the related Monthly Period $ 228,587,564.00
-----------------
(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 $ 75,273,000.00
-----------------
(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 $ 38,271,257.00
-----------------
(h) The Floating Investor Percentage
with respect to the related Monthly
Period 24.35%
----------
(i) The Class A Floating Allocation
with respect to the related Monthly
Period 0.730
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(j) The Class B Floating Allocation
with respect to the related Monthly 0.160
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(k) The Collateral Floating Allocation
with respect to the related Monthly
Period 0.110
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(l) The Fixed Investor Percentage with
respect to the related Monthly Period 57.61%
----------
(m) The Class A Fixed Allocation with
respect to the related Monthly Period 0.825
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</TABLE>
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<TABLE>
<S> <C>
(n) The Class B Fixed Allocation with
respect to the related Monthly Period 0.068
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(o) The Collateral Fixed Allocation with
respect to the related Monthly Period 0.107
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</TABLE>
<TABLE>
<CAPTION>
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:
Percentage Aggregate
of Total Account
Receivables Balance
----------- -------
<S> <C> <C>
(a) 30 - 59 days: 1.43% 29,500,982.82
------- -----------------
(b) 60 - 89 days: 0.79% 16,407,884.79
------- -----------------
(c) 90 - 119 days: 0.51% 10,559,082.71
------- -----------------
(d) 120 - 149 days: 0.43% 8,863,702.05
------- -----------------
(e) 150 or more days: 0.33% 6,739,792.31
------- -----------------
Total 3.49% 72,071,444.68
------- -----------------
</TABLE>
<TABLE>
<CAPTION>
4. INVESTOR DEFAULT AMOUNT
-----------------------
<S> <C>
(a) The Aggregate Investor Default Amount
for the related Monthly Period $ 1,568,936.11
-----------------
(b) The Class A Investor Default Amount
for the related Monthly Period $ 1,144,699.37
-----------------
(c) The Class B Investor Default Amount
for the related Monthly Period $ 250,608.52
-----------------
(d) The Collateral Default Amount for
the related Monthly Period $ 173,628.22
-----------------
</TABLE>
<TABLE>
<CAPTION>
5. INVESTOR CHARGE OFFS
--------------------
<S> <C>
(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
-----------------
</TABLE>
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<TABLE>
<S> <C>
(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 Offs set 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 pre-
ceding 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 pre-
ceding 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
-----------------
</TABLE>
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<TABLE>
<S> <C>
(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
this Distribution Date $ 0.00
-----------------
</TABLE>
<TABLE>
<CAPTION>
6. INVESTOR SERVICING FEE
----------------------
<S> <C>
(a) The amount of the Class A Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period $ 238,112.04
-----------------
(b) The amount of the Class B Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period $ 78,409.38
-----------------
(c) The amount of the Collateral Servicing
Fee payable by the Trust to the
Servicer for the related Monthly
Period $ 39,865.89
-----------------
(d) The amount of Servicer Interchange payable
by the Trust to the Servicer for the
related Monthly Period $ 213,832.39
-----------------
</TABLE>
<TABLE>
<CAPTION>
7. REALLOCATIONS
-------------
<S> <C>
(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 $ 33,454,555.00
-----------------
(d) The Class B Investor Interest as of the
close of business on this Distribution
Date $ 75,273,000.00
-----------------
</TABLE>
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<TABLE>
<CAPTION>
8. PRINCIPAL FUNDING ACCOUNT
-------------------------
<S> <C>
(a) The principal amount on deposit in
the Principal Funding Account on the
related Transfer Date (after taking
into account deposits on such date
but prior to withdrawals) $ 806,647,842.00
-----------------
(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 $ 3,796,543.94
-----------------
(d) The Principal Funding Investment
Shortfall deposited in the Finance
Charge Account on the related
Transfer Date from the Reserve Account $ 431,827.22
-----------------
(e) Interest earnings on funds on deposit
in the Reserve Account deposited in
the Finance Charge Account on the
related Transfer Date $ 0.00
-----------------
</TABLE>
<TABLE>
<CAPTION>
9. AVAILABLE FUNDS
---------------
<S> <C>
(a) The amount of Class A Available Funds
on deposit in the Finance Charge Account
on the related Transfer Date $ 10,869,257.86
-----------------
(b) The amount of Class B Available Funds
on deposit in the Finance Charge Account
on the related Transfer Date $ 1,438,117.36
-----------------
(c) The amount of Collateral Available
Funds on deposit in the Finance Charge
Account on the related Transfer Date $ 1,005,043.65
-----------------
</TABLE>
<TABLE>
<CAPTION>
10. COLLECTION OF FINANCE CHARGE RECEIVABLES
----------------------------------------
<S> <C>
(a) The aggregate amount of Collections
of Finance Charge Receivables and Annual
Membership Fees processed during the
related Monthly Period, allocated
in respect of the Class A Certificates $ 11,012,125.08
-----------------
</TABLE>
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<TABLE>
<S> <C>
(b) The aggregate amount of Collections
of Finance Charge Receivables and
Annual Membership Fees processed
during the related Monthly Period
which were allocated in respect of
the Class B Certificates
$ 1,485,162.99
-----------------
(c) The aggregate amount of Collections
of Finance Charge Receivables and
Annual Membership Fees processed
during the related Monthly Period
which were allocated in respect of
the Collateral Interest
$ 1,028,963.19
-----------------
</TABLE>
<TABLE>
<CAPTION>
11. PORTFOLIO YIELD
---------------
<S> <C>
(a) The Portfolio Yield for the related
Monthly Period 13.88%
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(b) The Portfolio Adjusted Yield 7.67%
-------
C. LIBOR Determinations
LIBOR rates for the Interest Period of
December 15, 2000 through January 15, 2001: 6.71000%
-----------
</TABLE>
MBNA AMERICA BANK,
NATIONAL ASSOCIATION,
SERVICER
By: /s/ JACK FIORAVANTI
--------------------------
NAME: JACK FIORAVANTI
TITLE: SENIOR VICE PRESIDENT
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