SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported:) November 15, 2000
Chevy Chase Bank
_____________________________________________________
(Exact name of registrant as specified in charter)
United States 333-1682 41-6442149
_________________________ ________________ _________________
State or other jurisdiction (Commission (I.R.S. Employer
of incorporation or organ- File No.) Identification No.
ization
C/O CHEVY CHASE BANK, F.S.B
8401 Connecticut Avenue
Chevy Chase, Maryland 20815
______________________________________ _____________
Address of principal executive offices Zip Code
Registrant's telephone number, including area code(301)-986-7000
_____________
Not Applicable
________________________________________________________________
(Former name, former address, and former fiscal year, if changed
since last report)
Item 5. Other Events
None
Item 7. Financial Statements, Pro forma Financial Information
and Exhibits.
Exhibit 99.1 Monthly Report to Certificateholders dated
November 15, 2000.
Signatures
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has caused this report to be signed
on behalf of the Chevy Chase Home Loan Trust by the
undersigned thereunto duly authorized.
Chevy Chase Home Loan Trust 1997-1
Mark A. Holles
Dated: November 15, 2000 By:________________________________
Mark A. Holles
Vice President
