ASSOCIATES CREDIT CARD RECEIVABLES CORP
8-K, EX-20.1, 2000-11-29
BUSINESS SERVICES, NEC
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Exhibit 20.1
Servicer's Report CONFIDENTIAL
Interest Period: October 17, 2000 to November 16, 2000 Date of Report: November 15, 2000
Associates Credit Card Master Note Trust, Series 2000-1
Class A Class B Class C Total Series Transferor Trust
Monthly Master Note Trust Activities Note Note Note Note Interest Totals
Beginning Principal Receivables Balance 6,982,167,081.58
Beginning Fin. Chrg. Receivables Balance 386,290,339.86
Beginning Total Receivables Balance 7,368,457,421.44
Beginning Special Funding Accnt Balance 0.00
Beginning Spread Account Balance 0.00
Beginning Reserve Account Balance 0.00
Initial Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00
Beginning Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 1,398,329,681.58
Note Principal Balance Increase 0.00 0.00 0.00 0.00
Note Principal Balance Decrease 0.00 0.00 0.00 0.00
Reductions in Invested Amount this Period
(Other than by Principal Payments) 0.00 0.00 0.00 0.00
Previous Reductions in Invested Amount
Reimbursed this Period 0.00 0.00 0.00 0.00
Ending Special Funding Accnt Balance 0.00
Ending Spread Account Balance 0.00
Ending Reserve Account Balance 0.00
Ending Period Invested Amount 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 1,375,424,831.09
Group I Information Series 2000-98-1 Series 2000-98-2 Series 2000-99-1 Series 2000-99-2 Series 2000-99-3 Series 2000-99-4
Beginning Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 264,706,000.00 588,235,000.00
Average Rate 6.92% 6.92% 6.95% 6.89% 6.92% 6.97%
Allocable Finance Charge Collections 19,261,495.04 17,976,551.43 15,406,620.56 11,554,985.06 5,777,488.17 12,838,850.47
Allocable Principal Collections 82,391,314.42 76,894,950.15 65,902,034.91 49,426,610.20 24,713,286.43 54,918,362.42
Allocable Default Amount Due 6,530,627.77 6,094,966.45 5,223,629.00 3,917,728.41 1,958,862.72 4,353,024.17
Allocable Monthly Interest Due 5,256,282.08 4,904,663.37 4,225,243.07 3,139,624.88 1,576,651.50 3,530,170.64
Allocable Monthly Servicing Fees Due 1,470,833.33 1,372,713.33 1,176,470.00 882,354.00 441,176.67 980,391.67
Ending Invested Amount 882,500,000.00 823,628,000.00 705,882,000.00 529,412,400.00 264,706,000.00 588,235,000.00
Group I Information Series 2000-1 Series 2000-2 Total
Beginning Invested Amount 1,000,000,000.00 789,474,000.00 5,583,837,400.00
Average Rate 6.85% 0.07 6.90%
Allocable Finance Charge Collections 21,826,056.71 17,231,104.29 121,873,151.74
Allocable Principal Collections 93,361,262.80 73,706,289.58 521,314,110.91
Allocable Default Amount Due 7,400,144.78 5,842,221.90 41,321,205.19
Allocable Monthly Interest Due 5,899,020.15 7,657,804.33 36,189,460.02
Allocable Monthly Servicing Fees Due 1,666,666.67 1,486,842.00 9,477,447.67
Ending Invested Amount 1,000,000,000.00 789,474,000.00 5,583,837,400.00
Payout Event Tests
Base Rate Trigger Transferor's Interest Trigger
3 Month Average Portfolio Yield 18.47% Required Transferor Interest 487,148,356.18
3 Month Average Base Rate 8.85% Transferor Interest 1,375,424,831.09
Spread 9.62% Trigger Pass Test Yes
Trigger Pass Test: If Spread is >0, "Yes" Yes
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Series 2000-1
Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and supplemented, the "Master Indenture"), between Associates Credit Card
Master Note Trust (the "Trust") and The Bank of New York, as indenture trustee (the "Indenture Trustee"), as supplemented by the Series 2000-1 Indenture
Supplement, dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and the Indenture Trustee, Associates National Bank (Delaware), as Servicer
(the "Servicer") under the Transfer and Servicing Agreement, dated as of April 1, 2000 (the "Transfer and Servicing Agreement") among Associates Credit Card
Receivables Corp., as Transferor, the Servicer and the Trust, is required to prepare certain information each month regarding current distributions to the Series
2000-1 Noteholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution
Date of November 17, 2000, and with respect to the performance of the Trust during the month of October is set forth below. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Master Indenture and the Indenture Supplement.
Current Transaction Period: Revolving Period
Any Cash Flow Shortfalls this Period No
Any Cash Flow Shortfalls from Previous Period No
Payout Event this Period: No
Group I Participants: Series 2000-98-1, Series 2000-98-2
Series 2000-99-1, Series 2000-99-2, Series 2000-99-3, Series 2000-99-4
Series 2000-1, Series 2000-2
MASTER NOTE TRUST RECEIVABLES
YIELD AND BASE RATE --
October: (31 posting days)
Yield Defaults Total
Portfolio Yield (Current Month) 25.35% 8.59% 16.75%
Portfolio Yield (Prior Month) 32.19% 10.72% 21.47%
Portfolio Yield (Two Months Ago) 26.51% 9.32% 17.18%
THREE MONTH AVERAGE PORTFOLIO YIELD 18.47%
Servicing Coupon Total
Base Rate (Current Month) 2.00% 6.85% 8.85%
Base Rate (Prior Month) 2.00% 6.86% 8.86%
Base Rate (Two Months Ago) 2.00% 6.86% 8.86%
THREE MONTH AVERAGE BASE RATE 8.85%
Beginning Period Principal Receivables 6,982,167,081.58
Beginning Period Finance Charge Receivables 386,290,339.86
Beginning Period Discounted Receivables 0.00
Beginning Period Total Receivables 7,368,457,421.44
Removed Principal Receivables 0.00
Removed Finance Charge Receivables 0.00
Removed Total Receivables 0.00
Discounted Receivables Generated this Period 0.00
Additional Principal Receivables 0.00
Additional Finance Charge Receivables 0.00
Additional Total Receivables 0.00
Total Principal Collections this Period 651,863,935.79
Total Defaulted Principal Receivables this Period 51,669,047.29
Total Receivables Adjustments this Period 23,971,271.60
Total Finance Charge Collections this Period 152,393,174.66
Total Discounted Receivables this Period 0.00
Ending Period Principal Receivables 6,959,262,231.09
Ending Period Finance Charge Receivables 390,624,587.13
Ending Period Discounted Receivables 0.00
Ending Period Total Receivables 7,349,886,818.20
DELINQUENCY INFORMATION
End of the Month Principal Delinquencies:
31-60 Days Delinquent 163,993,525.88
61-90 Days Delinquent 98,430,214.63
91+ Days Delinquent 170,535,037.02
Total 31+ Days Delinquent 432,958,777.53
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Cash Flow Allocations
Series 2000-1
FLOATING INVESTOR PERCENTAGE 0.143222
FIXED INVESTOR PERCENTAGE 0.143222
FINANCE CHARGE ALLOCATIONS Class A Class B Class C Total
AVAILABLE FUNDS
Total Trust Finance Charge Collections 152,393,174.66
Investor Percentage 0.143222
Investor Finance Charge Collections 21,826,056.71 21,826,056.71
Excess Finance Charge Collections allocated to Series 0.00 0.00
Available Finance Charge Collections 21,826,056.71 21,826,056.71
CASH FLOW ALLOCATIONS
Class A Distributions
(1) Class A Monthly Interest 4,412,591.67
(2) Class A Monthly Interest Previously Due 0.00
(3) Class A Monthly Additional Interest 0.00
(4) Class A Monthly Additional Interest Previously Due 0.00
Total Class A Monthly Interest 4,412,591.67 4,412,591.67
Class B Distributions
(5) Class B Monthly Interest 614,096.01
(6) Class B Monthly Interest Previously Due 0.00
(7) Class B Monthly Additional Interest 0.00
(8) Class B Monthly Additional Interest Previously Due 0.00
Total Class B Monthly Interest 614,096.01 614,096.01
(9) Total Monthly Servicing Fee for Series 1,666,666.67
(10) Total Servicing Fee for Series Previously Due 0.00
(11) Class A Prepayable Increase Amount Interest 0.00 0.00
(12) Class B Prepayable Increase Amount Interest 0.00 0.00
(13) Investor Default Amount 7,400,144.78
(14) Investor Charge-Offs 0.00 0.00 0.00 0.00
(15) Reallocated Principal Collections Previously Due 0.00 0.00 0.00 0.00
Class C Distributions
(16) Class C Monthly Interest 872,332.47
(17) Class C Monthly Interest Previously Due 0.00
(18) Class C Monthly Additional Interest 0.00
(19) Class C Monthly Additional Interest Previously Due 0.00
(20) Class C Prepayable Increase Amount Interest 0.00
Total Class C Interest 872,332.47 872,332.47
(21) Funds Required per Note Agreement under
Sections 2.07, 2.08 & 2.09 0.00
(22) Funds Required per Note Agreement under
Sections 2.04 (e) & 7.01 0.00
Spread Account Distributions
(23) Class C Spread Account Required Deposit 0.00
TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER
SERIES' ALLOCATIONS 6,860,225.11
EXCESS SPREAD ALLOCATED TO OTHER SERIES' 0.00
EXCESS SPREAD RELEASED TO TRANSFEROR 6,860,225.11
PRINCIPAL ALLOCATIONS Class A Class B Class C Total
AVAILABLE FUNDS
Total Trust Principal Collections 651,863,935.79
Investor Percentage 0.143222
Investor Principal Collections 93,361,262.80
Shared Principal Collections from other Series' 558,502,672.99
Available Principal Collections 651,863,935.79
Controlled Amoritization Amount 0.00 0.00 0.00 0.00
Partial Amoritization Amount 0.00 0.00 0.00 0.00
Deficiency Controlled Amoritization Amount 0.00 0.00 0.00 0.00
Monthly Principal Amount 0.00 0.00 0.00 0.00
Principal Shortfall
Reallocated Principal to other Series' 0.00 0.00 0.00
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Cash Reconciliation
Nov-00
Group 1 Coupon Rate Balance Interest Payments
Series 2000-98-1, Class A 6.81% $ 662,500,000.00 $ 3,885,681.04
Series 2000-98-1, Class B 7.03% $ 87,500,000.00 $ 529,989.76
Series 2000-98-1, Class C 7.37% $ 132,500,000.00 $ 840,611.28
Series 2000-98-2, Class A 6.81% $ 617,647,000.00 $ 3,621,826.27
Series 2000-98-2, Class B 7.03% $ 82,353,000.00 $ 498,511.88
Series 2000-98-2, Class C 7.37% $ 123,628,000.00 $ 784,325.22
Series 2000-99-1, Class A 6.85% $ 529,412,000.00 $ 3,124,718.30
Series 2000-99-1, Class B 7.05% $ 70,588,000.00 $ 428,784.36
Series 2000-99-1, Class C 7.37% $ 105,882,000.00 $ 671,740.41
Series 2000-99-2, Class A 6.77% $ 397,058,400.00 $ 2,313,748.64
Series 2000-99-2, Class B 7.06% $ 52,941,600.00 $ 322,065.22
Series 2000-99-2, Class C 7.37% $ 79,412,400.00 $ 503,811.02
Series 2000-99-3, Class A 6.84% $ 198,500,000.00 $ 1,168,721.47
Series 2000-99-3, Class B 6.84% $ 26,500,000.00 $ 156,025.79
Series 2000-99-3, Class C 7.37% $ 39,706,000.00 $ 251,904.24
Series 2000-99-4, Class A 6.87% $ 441,176,000.00 $ 2,609,529.75
Series 2000-99-4, Class B 7.12% $ 58,824,000.00 $ 360,857.22
Series 2000-99-4, Class C 7.37% $ 88,235,000.00 $ 559,783.67
Series 2000-1, Class A 6.74% $ 760,000,000.00 $ 4,412,591.67
Series 2000-1, Class B 6.96% $ 102,500,000.00 $ 614,096.01
Series 2000-1, Class C 7.37% $ 137,500,000.00 $ 872,332.47
Series 2000-2, Class A 6.73% $ 600,000,000.00 $ 5,723,050.00
Series 2000-2, Class B 6.97% $ 80,921,000.00 $ 799,371.36
Series 2000-2, Class C 7.38% $ 108,553,000.00 $ 1,135,382.97
Weighted Average Coupon of all Notes 6.90%

$5,583,837,400.00

$36,189,460.02

Weighted Average Coupon of Class A and Class B Notes 6.82%

$4,768,421,000.00

Current Transaction Period: Revolving Period
CASH FLOW REQUIREMENTS Series 2000-98-1
Class A Class B Class C Total
Principal Distribution Due this Period $ - $ - $ - $ -
Interest Distribution Due this Period $ 3,885,681.04 $ 529,989.76 $ 840,611.28 $ 5,256,282.08
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,470,833.33 $ 1,470,833.33
Total Required Distribution $ 3,885,681.04 $ 529,989.76 $ 2,311,444.61 $ 6,727,115.41
Total Required Distribution to Class A & Class B investors $ 4,415,670.80
Series 2000-98-2
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 3,621,826.27 $ 498,511.88 $ 784,325.22 $ 4,904,663.37
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,372,713.33 $ 1,372,713.33
Total Required Distribution $ 3,621,826.27 $ 498,511.88 $ 2,157,038.55 $ 6,277,376.70
Total Required Distribution to Class A & Class B investors
Series 2000-99-1
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 3,124,718.30 $ 428,784.36 $ 671,740.41 $ 4,225,243.07
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,176,470.00 $ 1,176,470.00
Total Required Distribution $ 3,124,718.30 $ 428,784.36 $ 1,848,210.41 $ 5,401,713.07
Total Required Distribution to Class A & Class B investors $ 3,553,502.66
Series 2000-99-2
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 2,313,748.64 $ 322,065.22 $ 503,811.02 $ 3,139,624.88
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 882,354.00 $ 882,354.00
Total Required Distribution $ 2,313,748.64 $ 322,065.22 $ 1,386,165.02 $ 4,021,978.88
Total Required Distribution to Class A & Class B investors $ 2,635,813.86
Series 2000-99-3
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 1,168,721.47 $ 156,025.79 $ 251,904.24 $ 1,576,651.50
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 441,176.67 $ 441,176.67
Total Required Distribution $ 1,168,721.47 $ 156,025.79 $ 693,080.91 $ 2,017,828.17
Total Required Distribution to Class A & Class B investors $ 1,324,747.26
Series 2000-99-4
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 2,609,529.75 $ 360,857.22 $ 559,783.67 $ 3,530,170.64
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 980,391.67 $ 980,391.67
Total Required Distribution $ 2,609,529.75 $ 360,857.22 $ 1,540,175.34 $ 4,510,562.31
Total Required Distribution to Class A & Class B investors $ 2,970,386.97
Series 2000-1
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 4,412,591.67 $ 614,096.01 $ 872,332.47 $ 5,899,020.15
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,666,666.67 $ 1,666,666.67
Total Required Distribution $ 4,412,591.67 $ 614,096.01 $ 2,538,999.14 $ 7,565,686.82
Total Required Distribution to Class A & Class B investors $ 5,026,687.68
Series 2000-2
Class A Class B Class C Total
Principal Distribution Required Amount $ - $ - $ - $ -
Interest Distribution Required Amount $ 5,723,050.00 $ 799,371.36 $ 1,135,382.97 $ 7,657,804.33
Unpaid Principal Shortfalls paid this Period $ - $ - $ - $ -
Unpaid Interest Shortfalls paid this Period $ - $ - $ - $ -
Prepayable Interest $ - $ - $ - $ -
Servicing Fee $ 1,486,842.00 $ 1,486,842.00
Total Required Distribution $ 5,723,050.00 $ 799,371.36 $ 2,622,224.97 $ 9,144,646.33
Total Required Distribution to Class A & Class B investors $ 6,522,421.36
CASH DISBURSEMENTS
Servicer Payment to trustee for Series 2000-98-1 $ 5,256,282.08
Servicer Payment to trustee for Series 2000-98-2 $ 4,904,663.37
Servicer Payment to trustee for Series 2000-99-1 $ 4,225,243.07
Servicer Payment to trustee for Series 2000-99-2 $ 3,139,624.88
Servicer Payment to trustee for Series 2000-99-3 $ 1,576,651.50
Servicer Payment to trustee for Series 2000-99-4 $ 3,530,170.64
Servicer Payment to trustee for Series 2000-1 $ 5,899,020.15
Servicer Payment to trustee for Series 2000-2 $ 7,657,804.33
Total Servicer Payment to trustee for all Series'

$36,189,460.02

Trustee Payment to Series 2000-98-1 Class C $ 840,611.28
Trustee Payment to Series 2000-98-2 Class C $ 784,325.22
Trustee Payment to Series 2000-99-1 Class C $ 671,740.41
Trustee Payment to Series 2000-99-2 Class C $ 503,811.02
Trustee Payment to Series 2000-99-3 Class C $ 251,904.24
Trustee Payment to Series 2000-99-4 Class C $ 559,783.67
Trustee Payment to Series 2000-1 Class C $ 872,332.47
Trustee Payment to Series 2000-2 Class C $ 1,135,382.97
Total Trustee Payment to all Class C Investor's $ 5,619,891.28


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