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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): September 15, 1997
MORGAN STANLEY ABS CAPITAL II INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-26581 Not Yet
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Available
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1585 Broadway
New York, New York 10036
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 761-1817
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(Former Name or Former Address if Changed Since Last Report)
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Item 5. Other Events
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Filing of Monthly Reports.
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Reference is made to BankBoston Marine Asset Backed Trust 1997-2 (the
"Trust") and to the Notes and Certificates issued thereby (the "Securities").
Attached hereto are copies of certain monthly reports to the holders of the
Securities which were derived from the monthly information compiled and
submitted by the Servicer of the Trust.
Item 7. Financial Statement and Exhibits
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Exhibit 1: Monthly Distribution Statement to the Noteholders and
Certificateholders for September 15, 1997 Payment Date.
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 hereunto duly authorized.
BANKBOSTON MARINE ASSET
BACKED TRUST 1997-2
BY: Wilmington Trust Company,
not in its individual
capacity but solely as trustee
By: /s/ Denise Geran
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Name: Denise Geran
Title: Vice President
Dated: October 1, 1997
Exhibit Index
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Exhibit Page
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Exhibit 1: Monthly Distribution Statement to the Noteholders and
Certificateholders for September 15, 1997 Payment Date.
BANKBOSTON MARINE ASSET BACKED SERIES 1997-2
Accounting Date: 9/5/97
Determination Date: 9/12/97
Monthly Payment Date: 9/15/97
Collection Period Ending: 8/31/97
I. COLLECTION ACCOUNT SUMMARY
Total Available Funds
Principal and Interest Payments Received
(including Prepayments) 3,575,433.36
Net Liquidation Proceeds (including Rebates/
Insurance Aamounts) 0.00
Current Monthly Interest Shortfall/Excess 644,414.92
Amount of Withdrawal, if any, from Reserve Account 0.00
Purchase Amounts for Repurchased Receivables 0.00
TOTAL AVAILABLE FUNDS 4,219,848.28
II. SIMPLE INTEREST EXCESS OR SHORTFALLS
Amount of Interest Payments Due During the
Collection Period for Receivables 676,521.04
Amount of Interest Payments Received During
the Collection Period 32,106.12
for Receivables
Amount of Current Month Simple Interest
Excess/Shortfall 644,414.92
III. CALCULATION OF RESERVE ACCOUNT DEPOSIT/WITHDRAWALS
Specified Reserve Account Balance (lesser of 3%
of the Initial Pool Balance and the Outstanding 12,455,063.62
Principal Balance of the Notes and Certificates)
Deposits to Reserve Account (only if Reserve
Account is less than the Specified Reserve
Account Balance) 0.00
Withdrawals from Reserve Account (to the extent
that there are shortfalls on payments of
Interest or Principal) 0.00
Amount in Reserve Account as of Determination
Date (excluding amount to be paid on next
Payment Date) 12,455,063.62
IV. COLLECTIONS ON RECEIVABLES
a) Interest and Principal Payments Received
Interest Payments Received 32,106.12
Scheduled Principal Payments Received 406,392.91
Principal Prepayments Received 3,136,934.33
Total Interest and Principal Payments Received 3,575,433.36
b) Liquidation Proceeds
Gross Recovery Proceeds of Liquidated
Receivables (including Rebates/Insurance) 0.00
minus Reasonable Expenses 0.00
Net Liquidation Proceeds 0.00
c) Purchase Amount - Loans Repurchased from Trust
Amount Allocable to Interest 0.00
Amount Allocable to Principal 0.00
TOTAL COLLECTED FUNDS 3,575,433.36
V. CALCULATION OF SERVICING FEES
Pool Balance of Receivables as of the First
Day of Collection Period 15,168,787.00
multiplied by Servicer Fee Rate 0.50%
divided by Months per Year 12
SERVICING FEE AMOUNT 172,986.99
TRUSTEE FEE AMOUNT (CONSTANT MONTHLY FIGURE) 208.33
VI. POOL BALANCE AND PORTFOLIO PERFORMANCE
a) Pool Balance
Initial Pool Balance 415,168,787.00
Pool Balance as of Preceding Accounting Date 0.00
Pool Balance as of the Current Accounting Date 411,625,460.21
Age of Pool in Months 1
b) Default and Delinquency Performance (includes
Repossessions and Bankruptcies)
Current Month Number of Loans Principal Balance Percentage
30-59 Days Delinquent 55 1,872,631.07 0.455%
60-89 Days Delinquent 4 196,892.15 0.048%
90-119 Days Delinquent 0 0.00 0.000%
119-120 Days Delinquent 0 0.00 0.000%
Defaults for Current Period 0 0.00 0.000%
Schedule of Liquidated Loans **SEE ATTACHMENT - N/A THIS MONTH
Description of Boat
Account Number
Original Principal Balance of Liquidated Loans
Outstanding Principal Balance of the Liquidated Loan
Gross Recovery
Recovery Net of Expenses
Realized Loss
Chargeoff Date
Repossession Date
Liquidation Date
Current Period Defaulted Receivables **SEE ATTACHMENT - N/A THIS MONTH
Description of Boat
Account Number
Original Principal Balance of the Defaulted Loan
Outstanding Principal Balance of the Defaulted Loan
Recovery Net of Expenses
Realized Loss
Chargeoff Date
Schedule of Repossession Inventory **SEE ATTACHMENT - N/A THIS MONTH
Description of Boat
Account Number
Original Principal Balance of the Defaulted Loan
Outstanding Principal Balance of the Defaulted Loan
Recovery Net of Expenses
Realized Loss
Chargeoff Date
Repossession Date
Current Period Realized Losses
Current Month Realized Losses 0.00
Preceding Realized Losses 0.00
Second Preceding Realized Losses 0.00
VII. DISTRIBUTIONS OF THE TOTAL DISTRIBUTABLE AMOUNT
Total Pool Factor 991.34303050
Note Pool Factor 990.10626880
Certificate Pool Factor 1000.00000000
Class A-7 Interest and Principal Account 47,194.40
a) Noteholders Monthly Interest Distributable Amount
Class A-1 80,375.84
Class A-2 73,933.75
Class A-3 52,666.67
Class A-4 71,044.17
Class A-5 38,325.00
Class A-6 27,113.33
Class A-7 0.00
Noteholders Monthly Principal Distributable Amount
Class A-1 3,594,103.52
Class A-2 0.00
Class A-3 0.00
Class A-4 0.00
Class A-5 0.00
Class A-6 0.00
Class A-7 0.00
b) Certificateholders' Monthly Interest Distributable Amount 62,104.61
Certificateholders' Monthly Principal Distributable Amount 0.00
TOTAL DISTRIBUTION AMOUNT (Serv Fee+Note Int+Note
Prin+Cert Int+Cert Prin) 4,219,848.28
minus: BKB Servicing Fee 172,986.99
plus: Trustee Fee 208.33
TOTAL WIRE TO CHASE 4,047,069.62
