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) January 12, 1996
FORD CREDIT AUTO LEASE TRUST 1996-1
(RCL Trust 1996-1 Originator)
---------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 333-11167 38-6648374
- -----------------------------------------------------------------
(State of other juris- (Commission File Number) (IRS Employer
diction of incorporation Identification
No.)
c/o The Chase Manhattan Bank (USA)
801 Delaware Avenue, Wilmington, Delaware 19801
- ----------------------------------------- -------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 302-575-5000
<PAGE>
ITEM 5. OTHER EVENTS
Servicing Report relating to the Ford Credit Auto Lease
Trust 1996-1 for the collection period ending November 30, 1996
is attached hereto as Exhibit 19 and is incorporated herein
by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
EXHIBITS
DESIGNATION DESCRIPTION METHOD OF FILING
Exhibit 19 Servicing Report for the Filed with this
collection period ending Report.
November 30, 1996 relating to
the Ford Credit Auto Lease Trust
1996-1.
SIGNATURE
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 on the
date indicated.
Date: December 20, 1996 FORD CREDIT AUTO LEASE TRUST 1996-1
(RCL TRUST 1996-1 - ORIGINATOR)
By: FORD MOTOR CREDIT COMPANY
Depositor and Beneficiary
of the Registrant
By:/s/H. D. Smith
-------------------
H. D. Smith
Secretary
of Ford Motor Credit Company
By: FORD CREDIT LEASING COMPANY, INC.
Depositor and Beneficiary
of the Registrant
By:/s/R. P. Conrad
--------------------
R. P. Conrad
Assistant Secretary of Ford Credit
Leasing Company, Inc.<PAGE>
EXHIBIT INDEX
DESIGNATION DESCRIPTION
Exhibit 19 Servicing Report for the
collection period ending
November 30, 1996 relating to
the Ford Credit Auto Lease
Trust 1996-1.
Ford Credit Auto Lease Trust
Ford Motor Credit Company
Monthly Servicing Report
Collection Period Nov-96
Distribution Date 12/15/96
Ford Credit Auto Lease Trust 1996-1
Dollar Amount
Class A-1 Asset Backed Notes 150,000,000.00
Class A-2 Asset Backed Notes 660,843,000.00
Subordinated Notes 106,690,331.00
Asset Backed Certificates 30,821,533.09
I. Collections
Monthly Payments 15,493,161.07
Available Scheduled Termination Sale Proceeds 0.00
Voluntary Early Termination Proceeds 2,909,594.46
Liquidation Proceeds 0.00
Recoveries 2,652.32
Payahead Credits 139,781.73
Administrative Purchase Amounts 801,596.67
Total 19,346,786.25
II. Advances (Settled on Payment Date)
Sale Proceed Advances
Beginning of Period 0.00
Plus: Net Change 0.00
End of Period 0.00
Monthly Payment Advances
Beginning of Period 3,045,636.33
Plus: Net Change 1,449,609.13
End of Period 4,495,245.46
Past Due Monthly Payments Not Advanced 0.00
Sale Proceeds Not Realized and Not Advanced 0.00
III. Principal Balances
Class A-1 Beginning Principal Balance 150,000,000.00
Less: Reductions to Class A-1 Beginning Principal Bal 0.00
Class A-1 Ending Principal Balance 150,000,000.00
Class A-2 Beginning Principal Balance 660,843,000.00
Less: Reductions to Class A-2 Beginning Principal Bal 0.00
Class A-2 Ending Principal Balance 660,843,000.00
Subordinated Notes Beginning Principal Balance 106,690,331.00
Less: Reductions to Subordinated Notes Beg. Principal 0.00
Subordinated Notes Ending Principal Balance 106,690,331.00
Lease Trust Cert. Beginning Principal Balance 30,821,533.09
Less: Reductions to Lease Trust Cert. Beg. Principal 0.00
Lease Trust Cert. Ending Principal Balance 30,821,533.09
Beginning Pool Balance 948,354,864.22
Residual Value Portion of Beginning Pool Balance 748,058,759.90
Reductions to Pool Balance -13,202,526.71
Ending Pool Balance 935,152,337.51
Residual Value Portion of Ending Pool Balance 744,989,556.41
Residual Value of Expired Contracts 0.00
Residual Value of Expired Contracts Unsold BOP 0.00
Residual Value of Expired Contracts Unsold EOP 0.00
IV. Calculation of Pool Factors
Pool Factor
Class A-1 Pool Factor 1.00000000
Class A-2 Pool Factor 1.00000000
Subordinated Notes Pool Factor 1.00000000
Lease Trust Certificates Pool Factor 1.00000000
V. Payahead Account
Beginning of the Month Balance 1,150,937.79
Plus: Net Change in Balance -139,781.73
End of Month Balance 1,011,156.06
VI. Losses
Credit Losses 272,062.56
Residual Losses 0.00
VII. Delinquency Amounts
31-60 Days 15,176,971.09
61-90 Days 339,394.44
91-120 Days 43,620.86
Over 120 Days 0.00
VIII. Memo Amount
Administrative Agent Fee 790,295.72
