FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
/ X / QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE OF 1934.
For the quarterly period ended March 31, 1998
-------------------------
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from __________ to __________
Commission file number 1-5966
----------------
Chrysler Financial Corporation
- -----------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
State of Michigan 38-0961430
- -----------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
27777 Franklin Road, Southfield, Michigan 48034-8286
- -----------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (248) 948-3067
--------------------------
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes __ X __ No _______
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a
plan confirmed by a court. Yes _____ No _____
APPLICABLE ONLY TO CORPORATE ISSUERS
The registrant had 250,000 shares of common stock outstanding as of March 31,
1998.
The registrant meets the conditions set forth in General Instruction H(1)(a)
and (b) of Form 10-Q and is therefore filing this Form with the reduced
disclosure format.
<PAGE>
Chrysler Financial Corporation and Subsidiaries
PART I FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
The interim financial data presented herein are unaudited, but in the opinion
of management reflect all adjustments necessary for a fair presentation of
such information. Results for interim periods should not be considered
indicative of results for a full year. Reference should be made to the
financial statements contained in the registrant's Annual Report on Form 10-K
for the year ended December 31, 1997 (the "10-K Report").
2
<PAGE>
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
Chrysler Financial Corporation and Subsidiaries
Consolidated Statement of Net Earnings
(in millions of dollars)
Three Months Ended
March 31,
------------------
1998 1997
---- ----
(unaudited)
<S> <C> <C>
Finance Revenue:
Automotive:
Retail (Note 2) $148 $167
Wholesale and other (Note 2) 129 154
Vehicles leased - rents and fees 109 71
Nonautomotive 38 21
---- ----
Total finance revenue 424 413
Interest expense 218 195
Depreciation on vehicles leased 71 28
---- ----
Net margin 135 190
Other Revenues:
Servicing fee income 85 80
Insurance premiums earned 31 30
Investment and other income (Note 2) 160 107
---- ----
Net margin and other revenues 411 407
---- ----
Costs and Expenses:
Operating and other expenses 128 143
Provision for credit losses 99 100
Insurance losses and loss adjustment expenses 24 23
---- ----
Total costs and expenses 251 266
---- ----
Earnings before income taxes 160 141
Provision for income taxes 52 48
---- ----
Net Earnings $108 $ 93
==== ====
<CAPTION>
Consolidated Statement of Shareholder's Investment
(in millions of dollars)
Three Months Ended
March 31,
------------------
1998 1997
---- ----
(unaudited)
<S> <C> <C>
Balance at beginning of period $ 3,297 $ 3,288
Net earnings 108 93
Common stock dividends (107) (85)
Net unrealized holding gains (losses)
on securities 6 (5)
------- -------
Balance at end of period $ 3,304 $ 3,291
======= =======
<FN>
Prior period reclassified to conform to current classifications.
See Notes to Consolidated Financial Statements.
</TABLE>
3
<PAGE>
ITEM 1. FINANCIAL STATEMENTS - continued
<TABLE>
<CAPTION>
Chrysler Financial Corporation and Subsidiaries
Consolidated Balance Sheet
(in millions of dollars)
March 31, December 31, March 31,
1998 1997 1997
--------- ------------ ---------
(unaudited) (unaudited)
<S> <C> <C> <C>
Assets:
Finance receivables - net (Note 1) $12,542 $10,926 $12,065
Retained interests in sold
receivables - net (Note 1) 3,259 3,111 3,335
------- ------- -------
Total finance receivables and
retained interests - net 15,801 14,037 15,400
Cash and cash equivalents 468 380 572
Marketable securities 427 408 397
Vehicles leased - net 2,214 1,736 771
Dealership properties leased - net 271 281 315
Repossessed collateral 56 76 141
Loans and other amounts due from
affiliated companies 1,300 1,705 673
Other assets 692 698 561
------- ------- -------
Total Assets $21,229 $19,321 $18,830
======= ======= =======
Liabilities:
Debt (Note 3) $14,751 $12,718 $12,739
Accounts payable, accrued expenses
and other 1,269 1,474 1,162
Deferred income taxes 1,905 1,832 1,638
------- ------- -------
Total Liabilities 17,925 16,024 15,539
Shareholder's Investment 3,304 3,297 3,291
------- ------- -------
Total Liabilities and Shareholder's
Investment $21,229 $19,321 $18,830
======= ======= =======
<FN>
See Notes to Consolidated Financial Statements.
</TABLE>
4
<PAGE>
ITEM 1. FINANCIAL STATEMENTS - continued
<TABLE>
<CAPTION>
Chrysler Financial Corporation and Subsidiaries
Consolidated Statement of Cash Flows
(in millions of dollars)
Three Months Ended
March 31,
------------------
1998 1997
---- ----
(unaudited)
<S> <C> <C>
Cash Flows From Operating Activities:
Net earnings $ 108 $ 93
Adjustments to reconcile net earnings to
net cash provided by operating activities:
Gains from receivable sales net of amortization (17) (13)
Provision for credit losses 99 100
Depreciation and amortization 75 33
Change in deferred income taxes and
income taxes payable 70 11
Change in amounts due to/from affiliated
companies (75) 21
Change in accounts payable, accrued expenses
and other (172) (195)
-------- --------
Net cash provided by operating activities 88 50
-------- --------
Cash Flows From Investing Activities:
Acquisitions of finance receivables (18,792) (19,904)
Collections of finance receivables 6,425 7,968
Sales of finance receivables 10,538 10,783
Purchases of marketable securities (838) (787)
Sales and maturities of marketable securities 828 856
Change in loans to affiliated companies 480 165
Purchases of vehicles leased (573) (209)
Sales of vehicles leased 27 19
Change in cash and investments held by
securitization trust 12 (16)
Other (33) 8
-------- --------
Net cash used in investing activities (1,926) (1,117)
-------- --------
Cash Flows From Financing Activities:
Change in short-term notes 320 565
Issuance of term debt 2,669 1,977
Repayment of term debt (889) (1,096)
Change in bank borrowings - International 14 22
Payment of dividends (107) (85)
Other (81) 26
-------- --------
Net cash provided by financing activities 1,926 1,409
-------- --------
Change in cash and cash equivalents 88 342
Cash and cash equivalents at beginning of year 380 230
-------- --------
Cash and Cash Equivalents at End of Period $ 468 $ 572
======== ========
<FN>
Prior period reclassified to conform to current classifications.
See Notes to Consolidated Financial Statements.
</TABLE>
5
<PAGE>
ITEM 1. FINANCIAL STATEMENTS - continued
Chrysler Financial Corporation and Subsidiaries
Notes to Consolidated Financial Statements
Note 1 - Finance Receivables and Retained Interests - Net
Outstanding balances of "Finance receivables - net" were as follows (in
millions of dollars):
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1998 1997 1997
--------- ------------ ---------
(unaudited) (unaudited)
<S> <C> <C> <C>
Automotive:
Retail $ 3,987 $ 3,621 $ 5,180
Wholesale and other 3,391 3,252 3,373
Retained senior interests in sold
wholesale receivables * 2,650 1,511 1,533
-------- -------- --------
Total automotive 10,028 8,384 10,086
-------- -------- --------
Nonautomotive:
Leveraged leases 2,590 2,572 1,959
Commercial 100 143 227
-------- -------- --------
Total nonautomotive 2,690 2,715 2,186
-------- -------- --------
Total finance receivables 12,718 11,099 12,272
Allowance for credit losses (176) (173) (207)
-------- -------- --------
Total finance receivables - net $ 12,542 $ 10,926 $ 12,065
======== ======== ========
<FN>
* Represents receivables held in trust eligible to be securitized or
returned to the Company.
</TABLE>
The Company's retained interests are generally restricted and subject to
credit risk. The following is a summary of amounts included in "Retained
interests in sold receivables - net" (in millions of dollars):
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1998 1997 1997
--------- ------------ ---------
(unaudited) (unaudited)
<S> <C> <C> <C>
Cash and investments $ 349 $ 361 $ 522
Subordinated interests in
receivables 2,977 2,843 2,687
Residual cash flows 305 284 218
Other -- -- 234
Allowance for credit losses (372) (377) (326)
------- ------- -------
Total retained interests in sold
receivables - net $ 3,259 $ 3,111 $ 3,335
======= ======= =======
</TABLE>
The Company's total allowance for credit losses is as follows (in millions of
dollars):
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1998 1997 1997
--------- ------------ ---------
(unaudited) (unaudited)
<S> <C> <C> <C>
Allowance for credit losses
deducted from:
Finance receivables $ 176 $ 173 $ 207
Retained interests in sold
receivables 372 377 326
Vehicles leased 14 9 6
----- ----- ------
Total $ 562 $ 559 $ 539
===== ===== ======
</TABLE>
6
<PAGE>
ITEM 1. FINANCIAL STATEMENTS - continued
Chrysler Financial Corporation and Subsidiaries
Notes to Consolidated Financial Statements
Note 2 - Sales of Receivables
The Company sells receivables subject to limited credit risk. Outstanding
balances of sold finance receivables, excluding retained senior interests in
sold wholesale receivables, were as follows (in millions of dollars):
<TABLE>
<CAPTION>
March 31, December 31, March 31,
1998 1997 1997
--------- ------------ ---------
(unaudited) (unaudited)
<S> <C> <C> <C>
Retail $ 16,301 $ 16,096 $ 14,563
Wholesale 6,913 7,187 8,024
-------- -------- --------
Total $ 23,214 $ 23,283 $ 22,587
======== ======== ========
</TABLE>
Gains, net of related amortization, recognized from the sales of receivables
were as follows (in millions of dollars):
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
(unaudited)
<S> <C> <C>
Retail:
Gross gains on sales $ 67 $ 29
Amortization (50) (39)
----- -----
Net gains $ 17 $ (10)
===== =====
Wholesale:
Gross gains on sales $ 42 $ 37
Amortization (42) (14)
----- -----
Net gains $ -- $ 23
===== =====
Total:
Gross gains on sales $ 109 $ 66
Amortization (92) (53)
----- -----
Net gains $ 17 $ 13
===== =====
</TABLE>
Gains and losses from the sales of receivables are recognized in the period
in which such sales occur, and are included in "Investment and other income."
Discount rates based on current market conditions at the time of sale and
prepayment speed estimates based on historical data are used in the
calculation of the gains and losses. Amortization relating to these gains is
recognized as an adjustment to "Finance Revenue" over the life of the sold
receivables. Provisions for expected credit losses are generally provided
during the period in which such receivables are acquired. Since the allowance
for credit losses is separately provided prior to the receivable sales, gains
from receivable sales are not reduced for expected credit losses. The
provision for credit losses related to such sales amounted to $68 million and
$35 million for the three months ended March 31, 1998 and 1997, respectively.
The Company began recognizing gains and losses on wholesale receivable sales
pursuant to the implementation of the Statement of Financial Accounting
Standards ("SFAS") No. 125, "Accounting for Transfers and Servicing of
Financial Assets and Extinguishments of Liabilities," effective January 1,
1997.
The Company is committed to sell all wholesale receivables related to certain
dealer accounts.
7
<PAGE>
ITEM 1. FINANCIAL STATEMENTS - continued
Chrysler Financial Corporation and Subsidiaries
Notes to Consolidated Financial Statements
Note 3 - Debt
Debt outstanding was as follows (in millions of dollars):
<TABLE>
<CAPTION>
Weighted Average
Interest Rates at March 31, December 31, March 31,
Maturity March 31, 1998 1998 1997 1997
- -------- ----------------- --------- ------------ ---------
(unaudited) (unaudited)
<S> <C> <C> <C> <C>
Short-term notes placed primarily in
the open market:
United States $ 2,611 $ 2,261 $ 2,539
Canada 679 709 642
------- ------- -------
Total short-term notes (primarily
commercial paper) 5.5% 3,290 2,970 3,181
------- ------- -------
Bank borrowings - International 4.0% 231 217 112
------- ------- -------
Senior term debt:
United States, due
1997 -- -- 1,918
1998 6.4% 1,591 2,309 2,309
1999 7.6% 2,769 2,719 2,065
2000 6.3% 2,377 1,845 1,328
2001 5.9% 956 401 386
2002 6.4% 565 465 339
Thereafter 5.8% 779 159 109
------- ------- -------
Total United States 9,037 7,898 8,454
Canada, due 1997-2003 5.6% 2,067 1,426 862
------- ------- -------
Total senior term debt 11,104 9,324 9,316
Other borrowings 8.5% 126 207 130
------- ------- -------
Total debt $14,751 $12,718 $12,739
======= ======= =======
</TABLE>
The Company has contractual debt maturities at March 31, 1998, as follows:
1998 - $5.4 billion (including $3.3 billion of short-term notes with an
average remaining term of 39 days); 1999 - $3.4 billion; 2000 - $3.2 billion;
2001 - $1.4 billion; 2002 - $0.6 billion; and thereafter - $0.8 billion.
Credit Facilities
The Company has revolving credit facilities, which total $8.0 billion,
consisting of a $2.0 billion facility expiring in April 1998 and a $6.0
billion facility expiring in April 2002. These facilities include $1.0
billion allocated to Chrysler Credit Canada Ltd. As of March 31, 1998, $2
million was outstanding under these facilities.
During the first quarter of 1998, the Company began the process of
renegotiating the $2.0 billion credit facility which expires in April 1998.
8
<PAGE>
ITEM 1. FINANCIAL STATEMENTS - continued
Chrysler Financial Corporation and Subsidiaries
Notes to Consolidated Financial Statements
Note 4 - New Accounting Standard
Effective January 1, 1998, the Company adopted SFAS No. 130, "Reporting
Comprehensive Income." This Statement requires that all items recognized
under accounting standards as components of comprehensive earnings be
reported in an annual financial statement that is displayed with the same
prominence as other annual financial statements. This Statement also requires
that an entity classify items of other comprehensive earnings by their nature
in an annual financial statement. For example, other comprehensive earnings
may include foreign currency translation adjustments, minimum pension
liability adjustments, and unrealized gains and losses on marketable
securities classified as available-for-sale. Annual financial statements for
prior periods will be reclassified, as required. The Company's total
comprehensive earnings were as follows:
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
(unaudited)
<S> <C> <C>
Net earnings $ 108 $ 93
Other comprehensive earnings (loss) 6 (5)
----- ----
Total comprehensive earnings $ 114 $ 88
===== ====
</TABLE>
9
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Financial Review
Chrysler Financial Corporation and its consolidated subsidiaries' (the
"Company") net earnings were $108 million for the first quarter ended March
31, 1998 and $93 million for the first quarter ended March 31, 1997. The
increase in net earnings for the quarter ended March 31, 1998, primarily
reflects higher gains from the sales of receivables and lower operating
expenses. Net earnings for the first quarter of 1997 reflect a one-time
benefit from the adoption of Statement of Financial Accounting Standards No.
125 (See Note 2 of the Consolidated Financial Statements).
Automotive volume totaled $20.6 billion for the first quarter ended March 31,
1998, compared with $21.7 billion in the comparable period of 1997. The
decrease in automotive volume for the quarter ended March 31, 1998, primarily
reflects lower levels of trade receivables purchased from Chrysler
Corporation. United States penetration and the number of vehicles financed
for the three months ended March 31, 1998 and 1997 were as follows:
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
<S> <C> <C>
United States Penetration:
Retail and lease 26% 26%
Wholesale 66% 70%
Number of New Chrysler Vehicles
Financed in the United States
(in thousands):
Retail and lease 149 149
Wholesale 445 454
</TABLE>
Finance revenue totaled $424 million for the first quarter of 1998 compared
to $413 million for the first quarter of 1997.
A comparison of the borrowing costs is shown in the following table (dollars
in millions):
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
<S> <C> <C>
Interest expense $ 218 $ 195
Average borrowings $13,609 $11,919
Average effective costs of borrowings 6.4% 6.6%
</TABLE>
The decline in the average effective borrowing costs for the first quarter of
1998 compared to the first quarter of 1997 primarily reflects lower market
interest rates in Canada.
Depreciation on vehicles leased for the first quarter ended March 31, 1998,
was $71 million compared to $28 million for the comparable period of 1997.
The increase in depreciation expense was due to higher levels of vehicles
leased in Canada and United States.
10
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS - continued
Financial Review (continued)
Investment and other income increased to $160 million for the first quarter
ended March 31, 1998, compared to $107 million in the comparable period of
1997. The increase in Investment and other income primarily reflects higher
gains from sales of receivables.
Operating and other expenses totaled $128 million in 1998, compared to $143
million for the comparable period of 1997. The decrease in Operating and
other expenses reflects improvements in the Company's automotive and
nonautomotive businesses.
Provision for credit losses for the first quarter ended March 31, 1998,
totaled $99 million, compared to $100 million for the comparable period of
1997.
Net credit loss experience, including net losses on receivables sold subject
to limited credit risk, for the first quarter ended March 31, 1998 and 1997
was as follows (dollars in millions):
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
<S> <C> <C>
Net Credit Losses (Recoveries) - Finance Receivables:
Automotive $ 96 $ 85
Nonautomotive (2) 2
------ ------
Total $ 94 $ 87
====== ======
Net Credit Losses (Recoveries) - Finance Receivables to
Average Gross Finance Receivables Outstanding:
Automotive 1.09% 0.97%
Nonautomotive (0.15%) 0.32%
Total 0.96% 0.91%
</TABLE>
During the first quarter of 1998, the Company experienced higher credit
losses on automotive retail receivables. Company management attributes the
credit losses to the combined effect of the credit mix of retail receivable
originations and the increase in frequency of default and repossession
necessitating an increase in the level of servicing and collection by the
Company. While credit loss experience may continue, actions have been taken
to improve credit mix, collections and servicing of the retail receivable
portfolio. However, no assurance can be given as to future results.
The Company's allowance for credit losses totaled $562 million, $559 million
and $539 million at March 31, 1998, December 31, 1997, and March 31, 1997,
respectively. The allowance for credit losses as a percentage of related
finance receivables outstanding was 1.53 percent at March 31, 1998, 1.60
percent at December 31, 1997, 1.53 percent at March 31, 1997.
11
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS - continued
Financial Review (continued)
The Company's portfolio of receivables and leases managed, which includes
receivables owned and receivables serviced for others, totaled $44.2 billion
at March 31, 1998, $42.0 billion at December 31, 1997, and $41.3 billion at
March 31, 1997. Receivables and leases serviced for others totaled $29.2
billion at March 31, 1998, $29.1 billion at December 31, 1997, and $28.2
billion at March 31, 1997.
Total assets at March 31, 1998, were $21.2 billion compared to $19.3 billion
at December 31, 1997 and $18.8 billion at March 31, 1997. The increase in
total assets is primarily attributable to the higher balance of finance
receivables and vehicles leased offset by a decrease in loans and other
amounts due from affiliated companies.
Total debt outstanding was $14.8 billion at March 31, 1998, $12.7 billion at
December 31, 1997, and $12.7 billion at March 31, 1997. The Company's
debt-to-equity ratio was 4.5 to 1 at March 31, 1998, 3.9 to 1 at December 31,
1997, and 3.9 to 1 at March 31, 1997.
Liquidity and Capital Resources
Receivable sales continued to be a significant source of funding in the first
quarter of 1998 as the Company realized $2.2 billion of net proceeds from the
sale of automotive retail receivables, compared to $1.4 billion of net
proceeds in the same period of 1997. Securitization of revolving wholesale
account balances provided funding which aggregated $5.9 billion and $6.8
billion at March 31, 1998 and 1997, respectively.
At March 31, 1998, the Company had contractual debt maturities of $5.4
billion during the remainder of 1998 (including $3.3 billion of short-term
notes), $3.4 billion in 1999, $3.2 billion in 2000, $1.4 billion in 2001,
$0.6 billion in 2002 and $0.8 billion thereafter. The Company expects that
1998 debt maturities will be funded from continued access to term debt
markets, issuances of commercial paper, receivable sales (including
approximately $2.7 billion in eligible wholesale receivables held by
securitization trusts) and operating cash flows.
The Company has revolving credit facilities, which total $8.0 billion,
consisting of a $2.0 billion facility expiring in April 1998 and a $6.0
billion facility expiring in April 2002. These facilities include $1.0
billion allocated to Chrysler Credit Canada Ltd. As of March 31, 1998, $2
million was outstanding under these facilities. During the first quarter of
1998, the Company began the process of renegotiating the $2.0 billion credit
facility which expires in April 1998.
The Company paid dividends to Chrysler Corporation totaling $107 million
during the first quarter of 1998 compared to $85 million for the comparable
period of 1997.
The Company believes that cash provided by operations, receivable sales,
access to term debt markets and issuance of commercial paper will provide
sufficient liquidity to meet its funding requirements.
12
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS - continued
Year 2000 Date Conversion
In 1996, the Company began the process of identifying, evaluating and
implementing changes to computer programs necessary to address the year 2000
issue. This issue affects computer systems that have time-sensitive programs
that may not properly recognize the year 2000. This could result in major
system failures or miscalculations. The Company is currently addressing its
internal year 2000 issue with modifications to existing programs and
conversions to new programs. The Company is also communicating with dealers,
financial institutions, software vendors and others with which it conducts
business to help them identify and resolve the year 2000 issue. If necessary
modifications and conversions are not completed in a timely manner, the year
2000 issue may have a material effect on the operations of the Company. The
total cost associated with the required modifications and conversions is not
known at this time, however, it is not expected to be material to the
Company's financial position and is being expensed as incurred.
New Accounting Standards
In February 1998, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards No. 132, "Employers' Disclosures about
Pensions and Other Postretirement Benefits." This Statement revises
employers' disclosures about pension and other postretirement benefit plans.
It does not change the measurement or recognition of those plans. This
Statement standardizes the disclosure requirements for pensions and other
postretirement benefits to the extent practicable, requires additional
information on changes in the benefit obligations and fair values of plan
assets that will facilitate financial analysis, and eliminates certain
disclosures. Restatement of disclosures for earlier periods is required. This
Statement is effective for the Company's financial statements for the year
ended December 31, 1998.
In March 1998, the American Institute of Certified Public Accountants issued
Statement of Opinion ("SOP") 98-1, "Accounting for the Costs of Computer
Software Developed or Obtained for Internal Use." This SOP provides
guidance on accounting for the costs of computer software developed or
obtained for internal use. This SOP requires that entities capitalize
certain internal-use software costs once certain criteria are met. Currently,
the Company generally expenses the costs of developing or obtaining internal-
use software as incurred. The Company is currently evaluating SOP 98-1, but
does not expect it to have a material impact on its consolidated financial
statements. The Company will adopt this SOP on a prospective basis on
January 1, 1999, as required.
Review by Independent Public Accountants
Deloitte & Touche LLP, the Company's independent public accountants,
performed a review of the financial statements for the first quarter ended
March 31, 1998 and 1997 in accordance with the standards for such reviews
established by the American Institute of Certified Public Accountants. The
review did not constitute an audit, and accordingly, Deloitte & Touche LLP
did not express an opinion on the aforementioned data.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
(Omitted in accordance with general instruction H)
13
<PAGE>
Chrysler Financial Corporation and Subsidiaries
PART II OTHER INFORMATION
ITEM 2. CHANGES IN SECURITIES
(Omitted in accordance with General Instruction H.)
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
(Omitted in accordance with General Instruction H.)
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
(Omitted in accordance with General Instruction H.)
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) The following exhibits are filed as a part of this report:
Exhibits
- --------
3-A Copy of the Restated Articles of Incorporation of Chrysler
Financial Corporation as adopted and filed with the
Corporation Division of the Michigan Department of Treasury on
October 1, 1971. Filed as Exhibit 3-A to Registration No.
2-43097 of Chrysler Financial Corporation, and incorporated
herein by reference.
3-B Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 26, 1975, April
23, 1985 and June 21, 1985, respectively. Filed as Exhibit 3-B
to the Annual Report of Chrysler Financial Corporation on Form
10-K for the year ended December 31, 1985, and incorporated
herein by reference.
3-C Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on August 12, 1987 and
August 14, 1987, respectively. Filed as Exhibit 3 to the
Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended September 30, 1987, and
incorporated herein by reference.
3-D Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 11, 1987 and
January 25, 1988, respectively. Filed as Exhibit 3-D to the
Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1987, and incorporated herein
by reference.
3-E Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on June 13, 1989 and June
23, 1989, respectively. Filed as Exhibit 3-E to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended June 30, 1989, and incorporated herein by
reference.
3-F Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on September 13, 1989,
January 31, 1990 and March 8, 1990, respectively. Filed as
Exhibit 3-E to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1989,
and incorporated herein by reference.
14
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
3-G Copy of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on March 29, 1990 and May
10, 1990. Filed as Exhibit 3-G to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended March 31, 1990, and incorporated herein by reference.
3-H Copy of the By-Laws of Chrysler Financial Corporation as
amended to March 2, 1987. Filed as Exhibit 3-C to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the
year ended December 31, 1986, and incorporated herein by
reference.
3-I Copy of the By-Laws of Chrysler Financial Corporation as
amended to August 1, 1990. Filed as Exhibit 3-I to the
Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended September 30, 1990, and
incorporated herein by reference.
3-J Copy of By-Laws of Chrysler Financial Corporation as amended
to January 1, 1992, and presently in effect. Filed as Exhibit
3-H to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and
incorporated herein by reference.
4-A Copy of Indenture, dated as of June 15, 1984, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
as Trustee, United States Trust Company of New York, as
successor Trustee, related to Senior Debt Securities of
Chrysler Financial Corporation. Filed as Exhibit (1) to the
Current Report of Chrysler Financial Corporation on Form 8-K,
dated June 26, 1984, and incorporated herein by reference.
4-B Copy of Supplemental Indenture, dated as of August 24, 1995,
between Chrysler Financial Corporation and the United States
Trust Company of New York, as Trustee, to the Indenture, dated
as of June 15, 1984, related to Senior Debt Securities of
Chrysler Financial Corporation. Filed as Exhibit 4-K to the
Current Report of Chrysler Financial Corporation on Form 8-K,
dated August 24, 1995, and incorporated herein by reference.
4-C Copy of Indenture, dated as of September 15, 1986, between
Chrysler Financial Corporation and Manufacturers Hanover Trust
Company, Trustee, United States Trust Company of New York, as
successor Trustee, related to Chrysler Financial Corporation
Senior Debt Securities. Filed as Exhibit 4-E to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended September 30, 1986, and incorporated herein by
reference.
4-D Copy of Indenture, dated as of February 15, 1988, between
Chrysler Financial Corporation and Manufacturers Hanover Trust
Company, Trustee, United States Trust Company of New York, as
successor Trustee, related to Chrysler Financial Corporation
Senior Debt Securities. Filed as Exhibit 4-A to Registration
No. 33-23479 of Chrysler Financial Corporation, and
incorporated herein by reference.
4-E Copy of First Supplemental Indenture, dated as of March 1,
1988, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of
New York, as successor Trustee, to the Indenture, dated as of
February 15, 1988, between such parties, related to Chrysler
Financial Corporation Senior Debt Securities. Filed as Exhibit
4-L to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1987, and
incorporated herein by reference.
15
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
4-F Copy of Second Supplemental Indenture, dated as of September
7, 1990, between Chrysler Financial Corporation and
Manufacturers Hanover Trust Company, Trustee, United States
Trust Company of New York, as successor Trustee, to the
Indenture, dated as of February 15, 1988, between such
parties, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-M to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended September 30, 1990, and incorporated herein by
reference.
4-G Copy of Third Supplemental Indenture, dated as of May 4, 1992,
between Chrysler Financial Corporation and United States Trust
Company of New York, as successor Trustee, to the Indenture,
dated as of February 15, 1988 between such parties, relating
to Chrysler Financial Corporation Senior Debt Securities.
Filed as Exhibit 4-N to the Quarterly Report of Chrysler
Financial Corporation on Form 10-Q for the quarter ended June
30, 1992, and incorporated herein by reference.
10-A Copy of Income Maintenance Agreement, made December 20, 1968,
among Chrysler Financial Corporation, Chrysler Corporation and
Chrysler Motors Corporation. Filed as Exhibit 13-D to
Registration Statement No. 2-32037 of Chrysler Financial
Corporation, and incorporated herein by reference.
10-B Copy of Agreement, made April 19, 1971, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation, amending the Income Maintenance Agreement
among such parties. Filed as Exhibit 13-B to Registration
Statement No. 2-40110 of Chrysler Financial Corporation and
Chrysler Corporation, and incorporated herein by reference.
10-C Copy of Agreement, made May 29, 1973, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors
Corporation, further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit 5-C to Registration
Statement No. 2-49615 of Chrysler Financial Corporation, and
incorporated herein by reference.
10-D Copy of Agreement, made as of July 1, 1975, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation, further amending the Income Maintenance
Agreement among such parties. Filed as Exhibit D to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the
year ended December 31, 1975, and incorporated herein by
reference.
10-E Copy of Agreement, made June 4, 1976, between Chrysler
Financial Corporation and Chrysler Corporation further
amending the Income Maintenance Agreement between such
parties. Filed as Exhibit 5-H to Registration Statement No.
2-56398 of Chrysler Financial Corporation, and incorporated
herein by reference.
10-F Copy of Agreement, made March 27, 1986, between Chrysler
Financial Corporation, Chrysler Holding Corporation (now known
as Chrysler Corporation) and Chrysler Corporation (now known
as Chrysler Motors Corporation) further amending the Income
Maintenance Agreement among such parties. Filed as Exhibit
10-F to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1986, and
incorporated herein by reference.
16
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-G Copy of Short Term Revolving Credit Agreement, dated as of
April 24, 1997, among Chrysler Financial Corporation, Chrysler
Credit Canada Ltd., the several commercial banks party
thereto, as Managing Agents, Royal Bank of Canada, as Canadian
Administrative Agent, and Chemical Bank, as Administrative
Agent. Filed as Exhibit 10-G to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended June 30, 1997, and incorporated herein by reference.
10-H Copy of Long Term Revolving Credit Agreement, dated as of
April 24, 1997, among Chrysler Financial Corporation, Chrysler
Credit Canada Ltd., the several commercial banks party
thereto, as Managing Agents, Royal Bank of Canada, as Canadian
Administrative Agent, and Chemical Bank, as Administrative
Agent. Filed as Exhibit 10-H to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended June 30, 1997, and incorporated herein by reference.
10-I Copy of Origination and Servicing Agreement, dated as of June
4, 1993, among Chrysler Leaserve, Inc., General Electric
Capital Auto Lease, Inc., Chrysler Credit Corporation and
Chrysler Financial Corporation. Filed as Exhibit 10-ZZZZ to
the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-J Copy of Amended and Restated Trust Agreement, dated as of
September 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Trustee, with respect to Premier Auto Trust 1993-5. Filed as
Exhibit 4.1 to the Quarterly Report of Premier Auto Trust
1993-5 on Form 10-Q for the quarter ended September 30, 1993,
and incorporated herein by reference.
10-K Copy of Indenture, dated as of September 1, 1993, between
Premier Auto Trust 1993-5 and Bankers Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1993-5.
Filed as Exhibit 4.2 to the Quarterly Report of Premier Auto
Trust 1993-5 on Form 10-Q for the quarter ended September 30,
1993, and incorporated herein by reference.
10-L Copy of Amended and Restated Trust Agreement, dated as of
November 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1993-6.
Filed as Exhibit 4-A to the Annual Report on Form 10-K of
Premier Auto Trust 1993-6 for the year ended December 31,
1993, and incorporated herein by reference.
10-M Copy of Indenture, dated as of November 1, 1993, between
Premier Auto Trust 1993-6 and The Fuji Bank and Trust Company,
as Indenture Trustee, with respect to Premier Auto Trust
1993-6. Filed as Exhibit 4-B to the Annual Report on Form 10-K
of Premier Auto Trust 1993-6 for the year ended December 31,
1993, and incorporated herein by reference.
10-N Copy of Amended and Restated Trust Agreement, dated as of
February 1, 1994, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1994-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-1 for the quarter ended March 31,
1994, and incorporated herein by reference.
17
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-O Copy of Indenture, dated as of February 1, 1994, between
Premier Auto Trust 1994-1 and The Fuji Bank and Trust Company,
as Indenture Trustee, with respect to Premier Auto Trust
1994-1. Filed as Exhibit 4.2 to the Quarterly Report on Form
10-Q of Premier Auto Trust 1994-1 for the quarter ended March
31, 1994, and incorporated herein by reference.
10-P Copy of Master Receivables Purchase Agreement among Chrysler
Credit Canada Ltd., CORE Trust and Chrysler Financial
Corporation, dated as of November 29, 1994. Filed as Exhibit
10-FFF to the Annual Report on Form 10-K of Chrysler Financial
Corporation for the year ended December 31, 1994, and
incorporated herein by reference.
10-Q Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December
2, 1994, with respect to the sale of retail automotive
receivables to CORE Trust. Filed as Exhibit 10-GGG to the
Annual Report on Form 10-K of Chrysler Financial Corporation
for the year ended December 31, 1994, and incorporated herein
by reference.
10-R Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December
22, 1994, with respect to the sale of retail automotive
receivables to CORE Trust. Filed as Exhibit 10-HHH to the
Annual Report on Form 10-K of Chrysler Financial Corporation
for the year ended December 31, 1994, and incorporated herein
by reference.
10-S Copy of Amended and Restated Master Custodial and Servicing
Agreement, dated as of December 16, 1997 between Chrysler
Credit Canada Ltd. and The Royal Trust Company, as Custodian.
Files as Exhibit 10-CC to the Annual Report on Form 10-K of
Chrysler Financial Corporation for the year ended December 31,
1997, and incorporated herein by reference.
10-T Copy of Amended and Restated Series 1995-1 Supplement, dated
as of December 16, 1997, among Chrysler Credit Canada Ltd.,
The Royal Trust Company, Prime Trust, Auto Receivables
Corporation and Chrysler Financial Corporation, to the Amended
and Restated Master Custodial and Servicing Agreement, dated
as of December 16, 1997. Filed as Exhibit 10-DD to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the
year ended December 31, 1997, and incorporated herein by
reference.
10-U Copy of Trust Indenture, dated as of September 1, 1992, among
Canadian Dealer Receivables Corporation and Montreal Trust
Company of Canada, as Trustee. Filed as Exhibit 10-UUUUU to
the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November
24, 1992, and incorporated herein by reference.
10-V Copy of Servicing Agreement, dated as of October 20, 1992,
between Chrysler Leaserve, Inc. (a subsidiary of General
Electric Capital Auto Lease, Inc.) and Chrysler Credit
Corporation, with respect to the sale of Gold Key Leases.
Filed as Exhibit 10-YYYYY to the Registration Statement on
Form S-2 of Chrysler Financial Corporation (Registration
Statement No. 33-51302) on November 24, 1992, and incorporated
herein by reference.
10-W Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1993-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1993-4 for the quarter ended September 30,
1993, and incorporated herein by reference.
18
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-X Copy of Indenture, dated as of August 1, 1993, between Premier
Auto Trust 1993-4 and Bankers Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1993-4. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1993-4 for the quarter ended September 30, 1993,
and incorporated herein by reference.
10-Y Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1994, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1994-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-4 for the quarter ended September 30,
1994, and incorporated herein by reference.
10-Z Copy of Indenture, dated as of August 1, 1994, between Premier
Auto Trust 1994-4 and Bankers Trust Company, as Indenture
Trustee. Filed as Exhibit 4.2 to the Quarterly Report on Form
10-Q of Premier Auto Trust 1994-4 for the quarter ended
September 30, 1994, and incorporated herein by reference.
10-AA Copy of Series 1994-1 Supplement, dated as of September 30,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan
Master Trust, Series 1994-1. Filed as Exhibit 3 to the
Registration Statement on Form 8-A of CARCO Auto Loan Master
Trust dated November 23, 1994, and incorporated herein by
reference.
10-BB Copy of Series 1995-1 Supplement, dated as of December 31,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan
Master Trust, Series 1995-1. Filed as Exhibit 3 to the
Registration Statement on Form 8-A of CARCO Auto Loan Master
Trust dated January 19, 1995, and incorporated herein by
reference.
10-CC Copy of Series 1995-2 Supplement, dated as of February 28,
1995, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan
Master Trust 1995-2. Filed as Exhibit 3 to CARCO Auto Loan
Master Trust's Registration Statement on Form 8-A dated March
27, 1995, and incorporated herein by reference.
10-DD Copy of Amended and Restated Trust Agreement, dated as of
February 1, 1995, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1995-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q for
the quarter ended March 31, 1995 of Premier Auto Trust 1995-1,
and incorporated herein by reference.
10-EE Copy of Indenture, dated as of February 1, 1995, between
Premier Auto Trust 1995-1 and The Bank of New York, as
Indenture Trustee, with respect to Premier Auto Trust 1995-1.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q for
the quarter ended March 31, 1995 of Premier Auto Trust 1995-1,
and incorporated herein by reference.
10-FF Copy of Sale and Servicing Agreement, dated as of February 1,
1995, among Premier Auto Trust 1995-1, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-1. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q for the quarter ended March 31,
1995 of Premier Auto Trust 1995-1, and incorporated herein by
reference.
19
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-GG Copy of Amended and Restated Trust Agreement, dated as of
April 1, 1995, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1995-2.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q for
the quarter ended June 30, 1995 of Premier Auto Trust 1995-2,
and incorporated herein by reference.
10-HH Copy of Indenture, dated as of April 1, 1995, between Premier
Auto Trust 1995-2 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1995-2. Filed as
Exhibit 4.2 to the Quarterly report on Form 10-Q for the
quarter ended June 30, 1995 of Premier Auto Trust 1995-2, and
incorporated herein by reference.
10-II Copy of Sale and Servicing Agreement, dated as of April 1,
1995, among Premier Auto Trust 1995-2, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-2. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q for the quarter ended June 30,
1995 of Premier Auto Trust 1995-2, and incorporated herein by
reference.
10-JJ Copy of Series 1995-3 Supplement, dated as of April 30, 1995,
among U.S. Auto Receivables Company, Chrysler Credit
Corporation and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust 1995-3.
Filed as Exhibit 4-Z to the Quarterly Report on Form 10-Q for
the quarter ended June 30, 1995 of CARCO Auto Loan Master
Trust, and incorporated herein by reference.
10-KK Copy of Series 1995-4 Supplement, dated as of April 30, 1995,
among U.S. Auto Receivables Company, Chrysler Credit
Corporation and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust Series
1995-4. Filed as Exhibit 4-AA to the Quarterly Report on Form
10-Q for the quarter ended June 30, 1995 of CARCO Auto Loan
Master Trust, and incorporated herein by reference.
10-LL Copy of Series 1995-4A Supplement, dated as of April 30, 1995,
among U.S. Auto Receivables Company, Chrysler Credit
Corporation and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust Series
1995-4A. Filed as Exhibit 4-BB to the Quarterly Report on Form
10-Q for the quarter ended June 30, 1995 of CARCO Auto Loan
Master Trust, and incorporated herein by reference.
10-MM Copy of Master Receivables Purchase Agreement, made as of July
24, 1995, among Chrysler Credit Canada Ltd., The Royal Trust
Company and Chrysler Financial Corporation, with respect to
Pure Trust 1995-1. Filed as Exhibit 10-RRRR to the Quarterly
Report on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1995, and incorporated herein by
reference.
10-NN Copy of Terms Schedule, dated as of July 24, 1995, among
Chrysler Credit Canada Ltd., The Royal Trust Company and
Chrysler Financial Corporation, with respect to Pure Trust
1995-1. Filed as Exhibit 10-SSSS to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter
ended September 30, 1995, and incorporated herein by
reference.
10-OO Copy of Receivables Purchase Agreement, dated as of December
14, 1995, among Chrysler Financial Corporation, Premier Auto
Receivables Company, Chrysler Credit Corporation, and ABN AMRO
Bank N.V., as Agent, with respect to the sale of retail
automotive receivables to Windmill Funding Corporation, Series
1995-2. Filed as Exhibit 10-KKKK to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended
December 31, 1995, and incorporated herein by reference.
20
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-PP Copy of Certificate of Trust of Premier Auto Trust 1995-3.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1995-3 for the quarter ended September 30,
1995, and incorporated herein by reference.
10-QQ Copy of Amended and Restated Trust Agreement, dated as of July
1, 1995, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1995-3. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1995-3 for the quarter ended September 30, 1995,
and incorporated herein by reference.
10-RR Copy of Indenture, dated as of July 1, 1995, between Premier
Auto Trust 1995-3 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1995-3. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1995-3 for the quarter ended September 30, 1995,
and incorporated herein by reference.
10-SS Copy of Sale and Servicing Agreement, dated as of July 1,
1995, among Premier Auto Trust 1995-3, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-3. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1995-3 for
the quarter ended September 30, 1995, and incorporated herein
by reference.
10-TT Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December
14, 1995, with respect to CORE Trust 1995-1. Filed as Exhibit
10-PPPP to the Annual Report of Chrysler Financial Corporation
for the year ended December 31, 1995, and incorporated herein
by reference.
10-UU Copy of Amended and Restated Trust Agreement, dated as of
November 1, 1995, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Receivables
1995-4. Filed as Exhibit 4.1 to the Annual Report on Form 10-K
of Premier Auto Trust 1995-4 for the year ended December 31,
1995, and incorporated herein by reference.
10-VV Copy of Certificate of Trust of Premier Auto Trust 1995-4.
Filed as Exhibit 3 to the Annual Report on Form 10-K of
Premier Auto Trust 1995-4 for the year ended December 31,
1995, and incorporated herein by reference.
10-WW Copy of Indenture, dated as of November 1, 1995, between
Premier Auto Trust 1995-4 and The Bank of New York, as
Indenture Trustee, with respect to Premier Auto Trust 1995-4.
Filed as Exhibit 4.2 to the Annual Report on Form 10-K of
Premier Auto Trust 1995-4 for the year ended December 31,
1995, and incorporated herein by reference.
10-XX Copy of Sale and Servicing Agreement, dated as of November 1,
1995, among Premier Auto Trust 1995-4, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-4. Filed as Exhibit 4.3 to the
Annual Report on Form 10-K of Premier Auto Trust 1995-4 for
the year ended December 31, 1995, and incorporated herein by
reference.
10-YY Copy of Receivables Purchase Agreement, dated as of May 30,
1996, among Premier Auto Receivables Company, Chrysler
Financial Corporation, and ABN AMRO Bank, N.V., as Agent, with
respect to the sale of retail automotive receivables to
Windmill Funding Corporation, Series 1996-1. Filed as Exhibit
10-OOOO to the Quarterly Report on Form 10-Q of Chrysler
Financial Corporation for the quarter ended June 30, 1996, and
incorporated herein by reference.
21
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-ZZ Copy of Certificate of Trust of Premier Auto Trust 1996-1.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-1 for the quarter ended March 31,
1996, and incorporated herein by reference.
10-AAA Copy of Amended and Restated Trust Agreement, dated as of
March 1, 1996, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1996-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-1 for the quarter ended March 31,
1996, and incorporated herein by reference.
10-BBB Copy of Indenture, dated as of March 1, 1996, between Premier
Auto Trust 1996-1 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1996-1. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-1 for the quarter ended
March 31, 1996, and incorporated herein by reference.
10-CCC Copy of Sale and Servicing Agreement, dated as of March 1,
1996, between Premier Auto Trust 1996-1 and Chrysler Financial
Corporation (excluding Schedules A and C), for Premier Auto
Trust 1996-1. Filed as Exhibit 4.3 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-1 for the quarter ended
March 31, 1996, and incorporated by reference.
10-DDD Copy of Receivables Sale Agreement, dated as of June 27, 1996,
among Premier Receivables L.L.C., Chrysler Financial
Corporation, Asset Securitization Cooperative Corporation and
Canadian Imperial Bank of Commerce, as Administrative Agent.
Filed as Exhibit 10-TTTT to the Quarterly Report on Form 10-Q
of Chrysler Financial Corporation for the quarter ended June
30, 1996, and incorporated herein by reference.
10-EEE Copy of Asset Purchase Agreement, dated as of August 30, 1996,
between Chrysler First Business Credit Corporation and
Berkeley Federal Bank & Trust, F.S.B. Filed as Exhibit 10-IIII
to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1996, and
incorporated herein by reference.
10-FFF Copy of Asset Purchase Agreement, dated as of August 30, 1996,
between Chrysler First Business Credit Corporation and
Blackrock Capital Finance, L.P. Filed as Exhibit 10-JJJJ to
the Quarterly Report on Form 10-Q for the quarter ended
September 30, 1996, and incorporated herein by reference.
10-GGG Copy of Certificate of Trust of Premier Auto Trust 1996-2.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-2 for the quarter ended June 30, 1996,
and incorporated herein by reference.
10-HHH Copy of Amended and Restated Trust Agreement, dated as of May
1, 1996, among Premier Auto Receivables Company, Chrysler
Financial Corporation, and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1996-2. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-2 for the quarter ended June 30, 1996, and
incorporated herein by reference.
10-III Copy of Indenture, dated as of May 1, 1996, between Premier
Auto Trust 1996-2 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1996-2. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-2 for the quarter ended
June 30, 1996, and incorporated herein by reference.
22
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-JJJ Copy of Sale and Servicing Agreement, dated as of May 1, 1996,
between Premier Auto Trust 1996-2 and Chrysler Financial
Corporation (excluding Schedules A and C), with respect to
Premier Auto Trust 1996-2. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1996-2 for
the quarter ended June 30, 1996, and incorporated herein by
reference.
10-KKK Copy of Certificate of Trust of Premier Auto Trust 1996-3.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-3 for the quarter ended June 30, 1996,
and incorporated herein by reference.
10-LLL Copy of Amended and Restated Trust Agreement, dated as of June
1, 1996, among Premier Auto Receivables Company, Chrysler
Financial Corporation, and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1996-3. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-3 for the quarter ended June 30, 1996, and
incorporated herein by reference.
10-MMM Copy of Indenture, dated as of June 1, 1996, between Premier
Auto Trust 1996-3 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1996-3. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-3 for the quarter ended
June 30, 1996, and incorporated herein by reference.
10-NNN Copy of Sale and Servicing Agreement, dated as of June 1,
1996, between Premier Auto Trust 1996-3 and Chrysler Financial
Corporation (excluding Schedules A and C), with respect to
Premier Auto Trust 1996-3. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1996-3 for
the quarter ended June 30, 1996, and incorporated herein by
reference.
10-OOO Copy of Receivables Sale Agreement, dated as of November 25,
1996, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Asset Securitization Cooperative Corporation, and
Canadian Imperial Bank of Commerce, as Administrative Agent.
Filed as Exhibit 10-OOOO to the Annual Report on Form 10-K of
Chrysler Financial Corporation for the year ended December 31,
1996, and incorporated herein by reference.
10-PPP Copy of Certificate of Trust of Premier Auto Trust 1996-4.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-4 for the quarter ended September 30,
1996, and incorporated herein by reference. Filed as Exhibit
10-PPPP to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1996,
and incorporated herein by reference.
10-QQQ Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1996, among Premier Receivables L.L.C., Chrysler
Financial Corporation, and Chase Manhattan Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1996-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-4 for the quarter ended September 30,
1996, and incorporated herein by reference.
10-RRR Copy of Indenture, dated as of August 1, 1996, between Premier
Auto Trust 1996-4 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1996-4. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-4 for the quarter ended September 30, 1996,
and incorporated herein by reference.
23
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-SSS Copy of Sale and Servicing Agreement, dated as of August 1,
1996, between Premier Auto Trust 1996-4 and Chrysler Financial
Corporation, with respect to Premier Auto Trust 1996-4. Filed
as Exhibit 4.3 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-4 for the quarter ended September 30, 1996,
and incorporated herein by reference.
10-TTT Copy of Receivables Sale Agreement, dated as of December 12,
1996, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Monte Rosa Capital Corporation, and Union Bank of
Switzerland, New York Branch, as Administrative Agent. Filed
as Exhibit 10-TTTT to the Annual Report on Form 10-K of
Chrysler Financial Corporation for the year ended December 31,
1996, and incorporated herein by reference.
10-UUU Copy of Receivables Sale Agreement, dated as of December 12,
1996, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Old Line Funding Corp., and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-UUUU to the Annual Report on
Form 10-K of Chrysler Financial Corporation for the year ended
December 31, 1996, and incorporated herein by reference.
10-VVV Copy of Amended and Restated Receivables Sale Agreement, dated
as of December 18, 1996, among Chrysler Credit Canada Ltd.,
Chrysler Financial Corporation, Canadian Master Trust, and
Nesbitt Burns, Inc. Filed as Exhibit 10-GGGG to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the
year ended December 31, 1997, and incorporated herein by
reference.
10-WWW Copy of Loan Agreement, dated as of August 1, 1996, between
Chrysler Canada Ltd. and Chrysler Credit Canada Ltd., with
respect to Gold Key Leasing. Filed as Exhibit 10-WWWW to the
Annual Report on Form 10-K of Chrysler Financial Corporation
for the year ended December 31, 1996, and incorporated herein
by reference.
10-XXX Copy of Series 1996-1 Supplement, dated as of September 30,
1996, among U.S. Auto Receivables Company, as Seller, Chrysler
Financial Corporation, as Servicer, and The Bank of New York,
as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 4-EE to the Annual Report on Form 10-K of
CARCO Auto Loan Master Trust for the year ended December 31,
1996, and incorporated herein by reference.
10-YYY Copy of Series 1996-2 Supplement, dated as of November 30,
1996, among U.S. Auto Receivables Company, as Seller, Chrysler
Financial Corporation, as Servicer, and The Bank of New York,
as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 4-FF to the Annual Report on Form 10-K of
CARCO Auto Loan Master Trust for the year ended December 31,
1996, and incorporated herein by reference.
10-ZZZ Copy of Certificate of Trust of Premier Auto Trust 1997-1.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-1 for the quarter ended March 31,
1997, and incorporated herein by reference.
10-AAAA Copy of Amended and Restated Trust Agreement, dated as of
March 1, 1997, among Premier Receivables L.L.C., Chrysler
Financial Corporation, and Chase Manhattan Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1997-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-1 for the quarter ended March 31,
1997, and incorporated herein by reference.
24
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-BBBB Copy of Indenture, dated as of March 1, 1997, between Premier
Auto Trust 1997-1 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1997-1. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1997-1 for the quarter ended March 31, 1997, and
incorporated herein by reference.
10-CCCC Copy of Sale and Servicing Agreement, dated as of March 1,
1997, between Premier Auto Trust 1997-1 and Chrysler Financial
Corporation, with respect to Premier Auto Trust 1997-1. Filed
as Exhibit 4.3 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1997-1 for the quarter ended March 31, 1997, and
incorporated herein by reference.
10-DDDD Copy of Receivables Sale Agreement, dated as of April 29,
1997, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Windmill Funding Corporation, and ABN AMRO Bank
N.V., as Administrative Agent. Filed as Exhibit 10-SSSS to the
Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended June 30, 1997, and incorporated
herein by reference.
10-EEEE Copy of Receivables Sale Agreement, dated as of June 16, 1997,
among Premier Receivables L.L.C., Chrysler Financial
Corporation, Park Avenue Receivables Corporation, and the
Chase Manhattan Bank, as Funding Agent. Filed as Exhibit
10-TTTT to the Quarterly Report of Chrysler Financial
Corporation on Form 10-Q for the quarter ended June 30, 1997,
and incorporated herein by reference.
10-FFFF Copy of Receivable Sales Agreement, dated as of September 29,
1997, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Thunder Bay Funding Inc., and Royal Bank of
Canada, as Agent. Filed as Exhibit 10-UUUU to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended September 30, 1997, and incorporated herein by
reference.
10-GGGG Copy of Certificate of Trust of Premier Auto Trust 1997-2.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-2 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-HHHH Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1997, among Premier Auto Receivables Company,
Chrysler Financial Corporation, and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1997-2.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-2 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-IIII Copy of Indenture, dated as of August 1, 1997, between Premier
Auto Trust 1997-2 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1997-2. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1997-2 for the quarter ended
September 30, 1997, and incorporated herein by reference.
10-JJJJ Copy of Sale and Servicing Agreement, dated as of August 1,
1997, between Premier Auto Trust 1997-2 and Chrysler Financial
Corporation (excluding Schedules A and C), with respect to
Premier Auto Trust 1997-2. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1997-2 for
the quarter ended September 30, 1997, and incorporated herein
by reference.
25
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
10-KKKK Copy of Certificate of Trust of Premier Auto Trust 1997-3.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-3 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-LLLL Copy of Amended and Restated Trust Agreement, dated as of
September 1, 1997, among Premier Auto Receivables Company,
Chrysler Financial Corporation, and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1997-3.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-3 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-MMMM Copy of Indenture, dated as of September 1, 1997, between
Premier Auto Trust 1997-3 and The Bank of New York, as
Indenture Trustee (excluding Schedule A), with respect to
Premier Auto Trust 1997-3. Filed as Exhibit 4.2 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1997-3 for
the quarter ended September 30, 1997, and incorporated herein
by reference.
10-NNNN Copy of Sale and Servicing Agreement, dated as of September 1,
1997, between Premier Auto Trust 1997-3. Filed as Exhibit 4.3
to the Quarterly Report on Form 10-Q of Premier Auto Trust
1997-3 for the quarter ended September 30, 1997, and
incorporated herein by reference.
10-OOOO Copy of Receivable Sale Agreement, dated as of November 6,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Preferred Receivables
Funding Corporation, as a Purchaser, Falcon Asset
Securitization Corporation, as a Purchaser and the First
National Bank of Chicago, as Administrative Agent. Filed as
Exhibit 10-ZZZZ to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1997,
and incorporation herein by reference.
10-PPPP Copy of Receivable Sale Agreement, dated as of November 20,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Receivables Capital
Corporation, as Purchaser and Bank of America National Trust
and Savings Association, as Administrative Agent. Filed as
Exhibit 10-AAAAA to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1997,
and incorporated herein by reference.
10-QQQQ Copy of Receivable Sale Agreement, dated as of December 3,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Old Line Funding Company,
as Purchaser and Royal Bank of Canada, as Agent. Filed as
Exhibit 10-BBBBB to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1997,
and incorporated herein by reference.
10-RRRR Copy of Receivable Sale Agreement, dated as of December 22,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Windmill Funding
Corporation, as Purchaser and ABN AMRO Bank N.V., as
Administrative Agent. Filed as Exhibit 10-CCCCC to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the
year ended December 31, 1997, and incorporated herein by
reference.
12-A Chrysler Financial Corporation and Subsidiaries Computations
of Ratios of Earnings to Fixed Charges.
26
<PAGE>
Chrysler Financial Corporation and Subsidiaries
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - continued
12-B Chrysler Corporation and Consolidated Subsidiaries'
Computations of Ratios of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements.
15-A Letter regarding unaudited interim financial information.
15-B Independent Accountants' Letter in lieu of Consent.
27 Financial Data Schedule
Copies of instruments defining the rights of holders of
long-term debt of the registrant and its consolidated
subsidiaries, other than the instruments copies of which are
filed with this report as Exhibit 4-A, 4-B, 4-C, 4-D, 4-E,
4-F, and 4-G thereto, have not been filed as exhibits to this
report since the amount of securities authorized under any one
of such instruments does not exceed 10% of the total assets of
the registrant and its subsidiaries on a consolidated basis.
The registration agrees to furnish to the Commission a copy of
each such instrument upon request.
(b) The registrant filed the following report on Form 8-K during
the quarter ended March 31, 1998:
Date of Report Date Filed Item Reported
-------------- ---------- -------------
February 13, 1998 February 17, 1998 5
March 20, 1998 March 23, 1998 5
Financial Statements Filed
--------------------------
None
27
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28
<PAGE>
Chrysler Financial Corporation and Subsidiaries
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 thereunto duly authorized.
Chrysler Financial Corporation
(Registrant)
Date: April 9, 1998 By: s/T. F. Gilman
--------------
T. F. Gilman
Vice President and Controller
Principal Accounting Officer
29
<PAGE>
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30
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX
- -------------
Exhibit No.
- -----------
3-A Copy of the Restated Articles of Incorporation of Chrysler
Financial Corporation as adopted and filed with the
Corporation Division of the Michigan Department of Treasury on
October 1, 1971. Filed as Exhibit 3-A to Registration No.
2-43097 of Chrysler Financial Corporation, and incorporated
herein by reference.
3-B Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 26, 1975, April
23, 1985 and June 21, 1985, respectively. Filed as Exhibit 3-B
to the Annual Report of Chrysler Financial Corporation on Form
10-K for the year ended December 31, 1985, and incorporated
herein by reference.
3-C Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on August 12, 1987 and
August 14, 1987, respectively. Filed as Exhibit 3 to the
Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended September 30, 1987, and
incorporated herein by reference.
3-D Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 11, 1987 and
January 25, 1988, respectively. Filed as Exhibit 3-D to the
Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1987, and incorporated herein
by reference.
3-E Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on June 13, 1989 and June
23, 1989, respectively. Filed as Exhibit 3-E to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended June 30, 1989, and incorporated herein by
reference.
3-F Copies of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on September 13, 1989,
January 31, 1990 and March 8, 1990, respectively. Filed as
Exhibit 3-E to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1989,
and incorporated herein by reference.
3-G Copy of amendments to the Restated Articles of Incorporation
of Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on March 29, 1990 and May
10, 1990. Filed as Exhibit 3-G to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended March 31, 1990, and incorporated herein by reference.
3-H Copy of the By-Laws of Chrysler Financial Corporation as
amended to March 2, 1987. Filed as Exhibit 3-C to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the
year ended December 31, 1986, and incorporated herein by
reference.
3-I Copy of the By-Laws of Chrysler Financial Corporation as
amended to August 1, 1990. Filed as Exhibit 3-I to the
Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended September 30, 1990, and
incorporated herein by reference.
E-1
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
3-J Copy of By-Laws of Chrysler Financial Corporation as amended
to January 1, 1992, and presently in effect. Filed as Exhibit
3-H to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and
incorporated herein by reference.
4-A Copy of Indenture, dated as of June 15, 1984, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
as Trustee, United States Trust Company of New York, as
successor Trustee, related to Senior Debt Securities of
Chrysler Financial Corporation. Filed as Exhibit (1) to the
Current Report of Chrysler Financial Corporation on Form 8-K,
dated June 26, 1984, and incorporated herein by reference.
4-B Copy of Supplemental Indenture, dated as of August 24, 1995,
between Chrysler Financial Corporation and the United States
Trust Company of New York, as Trustee, to the Indenture, dated
as of June 15, 1984, related to Senior Debt Securities of
Chrysler Financial Corporation. Filed as Exhibit 4-K to the
Current Report of Chrysler Financial Corporation on Form 8-K,
dated August 24, 1995, and incorporated herein by reference.
4-C Copy of Indenture, dated as of September 15, 1986, between
Chrysler Financial Corporation and Manufacturers Hanover Trust
Company, Trustee, United States Trust Company of New York, as
successor Trustee, related to Chrysler Financial Corporation
Senior Debt Securities. Filed as Exhibit 4-E to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended September 30, 1986, and incorporated herein by
reference.
4-D Copy of Indenture, dated as of February 15, 1988, between
Chrysler Financial Corporation and Manufacturers Hanover Trust
Company, Trustee, United States Trust Company of New York, as
successor Trustee, related to Chrysler Financial Corporation
Senior Debt Securities. Filed as Exhibit 4-A to Registration
No. 33-23479 of Chrysler Financial Corporation, and
incorporated herein by reference.
4-E Copy of First Supplemental Indenture, dated as of March 1,
1988, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of
New York, as successor Trustee, to the Indenture, dated as of
February 15, 1988, between such parties, related to Chrysler
Financial Corporation Senior Debt Securities. Filed as Exhibit
4-L to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1987, and
incorporated herein by reference.
4-F Copy of Second Supplemental Indenture, dated as of September
7, 1990, between Chrysler Financial Corporation and
Manufacturers Hanover Trust Company, Trustee, United States
Trust Company of New York, as successor Trustee, to the
Indenture, dated as of February 15, 1988, between such
parties, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-M to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended September 30, 1990, and incorporated herein by
reference.
4-G Copy of Third Supplemental Indenture, dated as of May 4, 1992,
between Chrysler Financial Corporation and United States Trust
Company of New York, as successor Trustee, to the Indenture,
dated as of February 15, 1988 between such parties, relating
to Chrysler Financial Corporation Senior Debt Securities.
Filed as Exhibit 4-N to the Quarterly Report of Chrysler
Financial Corporation on Form 10-Q for the quarter ended June
30, 1992, and incorporated herein by reference.
E-2
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-A Copy of Income Maintenance Agreement, made December 20, 1968,
among Chrysler Financial Corporation, Chrysler Corporation and
Chrysler Motors Corporation. Filed as Exhibit 13-D to
Registration Statement No. 2-32037 of Chrysler Financial
Corporation, and incorporated herein by reference.
10-B Copy of Agreement, made April 19, 1971, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation, amending the Income Maintenance Agreement
among such parties. Filed as Exhibit 13-B to Registration
Statement No. 2-40110 of Chrysler Financial Corporation and
Chrysler Corporation, and incorporated herein by reference.
10-C Copy of Agreement, made May 29, 1973, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors
Corporation, further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit 5-C to Registration
Statement No. 2-49615 of Chrysler Financial Corporation, and
incorporated herein by reference.
10-D Copy of Agreement, made as of July 1, 1975, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation, further amending the Income Maintenance
Agreement among such parties. Filed as Exhibit D to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the
year ended December 31, 1975, and incorporated herein by
reference.
10-E Copy of Agreement, made June 4, 1976, between Chrysler
Financial Corporation and Chrysler Corporation further
amending the Income Maintenance Agreement between such
parties. Filed as Exhibit 5-H to Registration Statement No.
2-56398 of Chrysler Financial Corporation, and incorporated
herein by reference.
10-F Copy of Agreement, made March 27, 1986, between Chrysler
Financial Corporation, Chrysler Holding Corporation (now known
as Chrysler Corporation) and Chrysler Corporation (now known
as Chrysler Motors Corporation) further amending the Income
Maintenance Agreement among such parties. Filed as Exhibit
10-F to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1986, and
incorporated herein by reference.
10-G Copy of Short Term Revolving Credit Agreement, dated as of
April 24, 1997, among Chrysler Financial Corporation, Chrysler
Credit Canada Ltd., the several commercial banks party
thereto, as Managing Agents, Royal Bank of Canada, as Canadian
Administrative Agent, and Chemical Bank, as Administrative
Agent. Filed as Exhibit 10-G to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended June 30, 1997, and incorporated herein by reference.
10-H Copy of Long Term Revolving Credit Agreement, dated as of
April 24, 1997, among Chrysler Financial Corporation, Chrysler
Credit Canada Ltd., the several commercial banks party
thereto, as Managing Agents, Royal Bank of Canada, as Canadian
Administrative Agent, and Chemical Bank, as Administrative
Agent. Filed as Exhibit 10-H to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter
ended June 30, 1997, and incorporated herein by reference.
E-3
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-I Copy of Origination and Servicing Agreement, dated as of June
4, 1993, among Chrysler Leaserve, Inc., General Electric
Capital Auto Lease, Inc., Chrysler Credit Corporation and
Chrysler Financial Corporation. Filed as Exhibit 10-ZZZZ to
the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-J Copy of Amended and Restated Trust Agreement, dated as of
September 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Trustee, with respect to Premier Auto Trust 1993-5. Filed as
Exhibit 4.1 to the Quarterly Report of Premier Auto Trust
1993-5 on Form 10-Q for the quarter ended September 30, 1993,
and incorporated herein by reference.
10-K Copy of Indenture, dated as of September 1, 1993, between
Premier Auto Trust 1993-5 and Bankers Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1993-5.
Filed as Exhibit 4.2 to the Quarterly Report of Premier Auto
Trust 1993-5 on Form 10-Q for the quarter ended September 30,
1993, and incorporated herein by reference.
10-L Copy of Amended and Restated Trust Agreement, dated as of
November 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1993-6.
Filed as Exhibit 4-A to the Annual Report on Form 10-K of
Premier Auto Trust 1993-6 for the year ended December 31,
1993, and incorporated herein by reference.
10-M Copy of Indenture, dated as of November 1, 1993, between
Premier Auto Trust 1993-6 and The Fuji Bank and Trust Company,
as Indenture Trustee, with respect to Premier Auto Trust
1993-6. Filed as Exhibit 4-B to the Annual Report on Form 10-K
of Premier Auto Trust 1993-6 for the year ended December 31,
1993, and incorporated herein by reference.
10-N Copy of Amended and Restated Trust Agreement, dated as of
February 1, 1994, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1994-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-1 for the quarter ended March 31,
1994, and incorporated herein by reference.
10-O Copy of Indenture, dated as of February 1, 1994, between
Premier Auto Trust 1994-1 and The Fuji Bank and Trust Company,
as Indenture Trustee, with respect to Premier Auto Trust
1994-1. Filed as Exhibit 4.2 to the Quarterly Report on Form
10-Q of Premier Auto Trust 1994-1 for the quarter ended March
31, 1994, and incorporated herein by reference.
10-P Copy of Master Receivables Purchase Agreement among Chrysler
Credit Canada Ltd., CORE Trust and Chrysler Financial
Corporation, dated as of November 29, 1994. Filed as Exhibit
10-FFF to the Annual Report on Form 10-K of Chrysler Financial
Corporation for the year ended December 31, 1994, and
incorporated herein by reference.
10-Q Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December
2, 1994, with respect to the sale of retail automotive
receivables to CORE Trust. Filed as Exhibit 10-GGG to the
Annual Report on Form 10-K of Chrysler Financial Corporation
for the year ended December 31, 1994, and incorporated herein
by reference.
E-4
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-R Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December
22, 1994, with respect to the sale of retail automotive
receivables to CORE Trust. Filed as Exhibit 10-HHH to the
Annual Report on Form 10-K of Chrysler Financial Corporation
for the year ended December 31, 1994, and incorporated herein
by reference.
10-S Copy of Amended and Restated Master Custodial and Servicing
Agreement, dated as of December 16, 1997, between Chrysler
Credit Canada Ltd. and The Royal Trust Company, as Custodian.
Filed as Exhibit 10-CC to the Annual Report on Form 10-K of
Chrysler Financial Corporation for the year ended December 31,
1997, and incorporated herein by reference.
10-T Copy of Amended and Restated Series 1995-1 Supplement, dated
as of December 16, 1997, among Chrysler Credit Canada Ltd.,
The Royal Trust Company, Prime Trust, Auto Receivables
Corporation and Chrysler Financial Corporation, to the Master
Custodial and Servicing Agreement, dated as of December 16,
1997. Filed as Exhibit 10-DD to the Annual Report on Form 10-K
of Chrysler Financial Corporation for the year ended December
31, 1997, and incorporated herein by reference.
10-U Copy of Trust Indenture, dated as of September 1, 1992, among
Canadian Dealer Receivables Corporation and Montreal Trust
Company of Canada, as Trustee. Filed as Exhibit 10-UUUUU to
the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November
24, 1992, and incorporated herein by reference.
10-V Copy of Servicing Agreement, dated as of October 20, 1992,
between Chrysler Leaserve, Inc. (a subsidiary of General
Electric Capital Auto Lease, Inc.) and Chrysler Credit
Corporation, with respect to the sale of Gold Key Leases.
Filed as Exhibit 10-YYYYY to the Registration Statement on
Form S-2 of Chrysler Financial Corporation (Registration
Statement No. 33-51302) on November 24, 1992, and incorporated
herein by reference.
10-W Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1993-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1993-4 for the quarter ended September 30,
1993, and incorporated herein by reference.
10-X Copy of Indenture, dated as of August 1, 1993, between Premier
Auto Trust 1993-4 and Bankers Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1993-4. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1993-4 for the quarter ended September 30, 1993,
and incorporated herein by reference.
10-Y Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1994, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1994-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-4 for the quarter ended September 30,
1994, and incorporated herein by reference.
10-Z Copy of Indenture, dated as of August 1, 1994, between Premier
Auto Trust 1994-4 and Bankers Trust Company, as Indenture
Trustee. Filed as Exhibit 4.2 to the Quarterly Report on Form
10-Q of Premier Auto Trust 1994-4 for the quarter ended
September 30, 1994, and incorporated herein by reference.
E-5
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-AA Copy of Series 1994-1 Supplement, dated as of September 30,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan
Master Trust, Series 1994-1. Filed as Exhibit 3 to the
Registration Statement on Form 8-A of CARCO Auto Loan Master
Trust dated November 23, 1994, and incorporated herein by
reference.
10-BB Copy of Series 1995-1 Supplement, dated as of December 31,
1994, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan
Master Trust, Series 1995-1. Filed as Exhibit 3 to the
Registration Statement on Form 8-A of CARCO Auto Loan Master
Trust dated January 19, 1995, and incorporated herein by
reference.
10-CC Copy of Series 1995-2 Supplement, dated as of February 28,
1995, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee, with respect to CARCO Auto Loan
Master Trust 1995-2. Filed as Exhibit 3 to CARCO Auto Loan
Master Trust's Registration Statement on Form 8-A dated March
27, 1995, and incorporated herein by reference.
10-DD Copy of Amended and Restated Trust Agreement, dated as of
February 1, 1995, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1995-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q for
the quarter ended March 31, 1995 of Premier Auto Trust 1995-1,
and incorporated herein by reference.
10-EE Copy of Indenture, dated as of February 1, 1995, between
Premier Auto Trust 1995-1 and The Bank of New York, as
Indenture Trustee, with respect to Premier Auto Trust 1995-1.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q for
the quarter ended March 31, 1995 of Premier Auto Trust 1995-1,
and incorporated herein by reference.
10-FF Copy of Sale and Servicing Agreement, dated as of February 1,
1995, among Premier Auto Trust 1995-1, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-1. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q for the quarter ended March 31,
1995 of Premier Auto Trust 1995-1, and incorporated herein by
reference.
10-GG Copy of Amended and Restated Trust Agreement, dated as of
April 1, 1995, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1995-2.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q for
the quarter ended June 30, 1995 of Premier Auto Trust 1995-2,
and incorporated herein by reference.
10-HH Copy of Indenture, dated as of April 1, 1995, between Premier
Auto Trust 1995-2 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1995-2. Filed as
Exhibit 4.2 to the Quarterly report on Form 10-Q for the
quarter ended June 30, 1995 of Premier Auto Trust 1995-2, and
incorporated herein by reference.
10-II Copy of Sale and Servicing Agreement, dated as of April 1,
1995, among Premier Auto Trust 1995-2, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-2. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q for the quarter ended June 30,
1995 of Premier Auto Trust 1995-2, and incorporated herein by
reference.
E-6
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-JJ Copy of Series 1995-3 Supplement, dated as of April 30, 1995,
among U.S. Auto Receivables Company, Chrysler Credit
Corporation and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust 1995-3.
Filed as Exhibit 4-Z to the Quarterly Report on Form 10-Q for
the quarter ended June 30, 1995 of CARCO Auto Loan Master
Trust, and incorporated herein by reference.
10-KK Copy of Series 1995-4 Supplement, dated as of April 30, 1995,
among U.S. Auto Receivables Company, Chrysler Credit
Corporation and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust Series
1995-4. Filed as Exhibit 4-AA to the Quarterly Report on Form
10-Q for the quarter ended June 30, 1995 of CARCO Auto Loan
Master Trust, and incorporated herein by reference.
10-LL Copy of Series 1995-4A Supplement, dated as of April 30, 1995,
among U.S. Auto Receivables Company, Chrysler Credit
Corporation and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust Series
1995-4A. Filed as Exhibit 4-BB to the Quarterly Report on Form
10-Q for the quarter ended June 30, 1995 of CARCO Auto Loan
Master Trust, and incorporated herein by reference.
10-MM Copy of Master Receivables Purchase Agreement, made as of July
24, 1995, among Chrysler Credit Canada Ltd., The Royal Trust
Company and Chrysler Financial Corporation, with respect to
Pure Trust 1995-1. Filed as Exhibit 10-RRRR to the Quarterly
Report on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1995, and incorporated herein by
reference.
10-NN Copy of Terms Schedule, dated as of July 24, 1995, among
Chrysler Credit Canada Ltd., The Royal Trust Company and
Chrysler Financial Corporation, with respect to Pure Trust
1995-1. Filed as Exhibit 10-SSSS to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter
ended September 30, 1995, and incorporated herein by
reference.
10-OO Copy of Receivables Purchase Agreement, dated as of December
14, 1995, among Chrysler Financial Corporation, Premier Auto
Receivables Company, Chrysler Credit Corporation, and ABN AMRO
Bank N.V., as Agent, with respect to the sale of retail
automotive receivables to Windmill Funding Corporation, Series
1995-2. Filed as Exhibit 10-KKKK to the Annual Report on Form
10-K of Chrysler Financial Corporation for the year ended
December 31, 1995, and incorporated herein by reference.
10-PP Copy of Certificate of Trust of Premier Auto Trust 1995-3.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1995-3 for the quarter ended September 30,
1995, and incorporated herein by reference.
10-QQ Copy of Amended and Restated Trust Agreement, dated as of July
1, 1995, among Premier Auto Receivables Company, Chrysler
Financial Corporation and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1995-3. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1995-3 for the quarter ended September 30, 1995,
and incorporated herein by reference.
10-RR Copy of Indenture, dated as of July 1, 1995, between Premier
Auto Trust 1995-3 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1995-3. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1995-3 for the quarter ended September 30, 1995,
and incorporated herein by reference.
E-7
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-SS Copy of Sale and Servicing Agreement, dated as of July 1,
1995, among Premier Auto Trust 1995-3, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-3. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1995-3 for
the quarter ended September 30, 1995, and incorporated herein
by reference.
10-TT Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December
14, 1995, with respect to CORE Trust 1995-1. Filed as Exhibit
10-PPPP to the Annual Report of Chrysler Financial Corporation
for the year ended December 31, 1995, and incorporated herein
by reference.
10-UU Copy of Amended and Restated Trust Agreement, dated as of
November 1, 1995, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Receivables
1995-4. Filed as Exhibit 4.1 to the Annual Report on Form 10-K
of Premier Auto Trust 1995-4 for the year ended December 31,
1995, and incorporated herein by reference.
10-VV Copy of Certificate of Trust of Premier Auto Trust 1995-4.
Filed as Exhibit 3 to the Annual Report on Form 10-K of
Premier Auto Trust 1995-4 for the year ended December 31,
1995, and incorporated herein by reference.
10-WW Copy of Indenture, dated as of November 1, 1995, between
Premier Auto Trust 1995-4 and The Bank of New York, as
Indenture Trustee, with respect to Premier Auto Trust 1995-4.
Filed as Exhibit 4.2 to the Annual Report on Form 10-K of
Premier Auto Trust 1995-4 for the year ended December 31,
1995, and incorporated herein by reference.
10-XX Copy of Sale and Servicing Agreement, dated as of November 1,
1995, among Premier Auto Trust 1995-4, Chrysler Credit
Corporation and Chrysler Financial Corporation, with respect
to Premier Auto Trust 1995-4. Filed as Exhibit 4.3 to the
Annual Report on Form 10-K of Premier Auto Trust 1995-4 for
the year ended December 31, 1995, and incorporated herein by
reference.
10-YY Copy of Receivables Purchase Agreement, dated as of May 30,
1996, among Premier Auto Receivables Company, Chrysler
Financial Corporation, and ABN AMRO Bank, N.V., as Agent, with
respect to the sale of retail automotive receivables to
Windmill Funding Corporation, Series 1996-1. Filed as Exhibit
10-OOOO to the Quarterly Report on Form 10-Q of Chrysler
Financial Corporation for the quarter ended June 30, 1996, and
incorporated herein by reference.
10-ZZ Copy of Certificate of Trust of Premier Auto Trust 1996-1.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-1 for the quarter ended March 31,
1996, and incorporated herein by reference.
10-AAA Copy of Amended and Restated Trust Agreement, dated as of
March 1, 1996, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1996-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-1 for the quarter ended March 31,
1996, and incorporated herein by reference.
10-BBB Copy of Indenture, dated as of March 1, 1996, between Premier
Auto Trust 1996-1 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1996-1. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-1 for the quarter ended
March 31, 1996, and incorporated herein by reference.
E-8
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-CCC Copy of Sale and Servicing Agreement, dated as of March 1,
1996, between Premier Auto Trust 1996-1 and Chrysler Financial
Corporation (excluding Schedules A and C), for Premier Auto
Trust 1996-1. Filed as Exhibit 4.3 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-1 for the quarter ended
March 31, 1996, and incorporated by reference.
10-DDD Copy of Receivables Sale Agreement, dated as of June 27, 1996,
among Premier Receivables L.L.C., Chrysler Financial
Corporation, Asset Securitization Cooperative Corporation and
Canadian Imperial Bank of Commerce, as Administrative Agent.
Filed as Exhibit 10-TTTT to the Quarterly Report on Form 10-Q
of Chrysler Financial Corporation for the quarter ended June
30, 1996, and incorporated herein by reference.
10-EEE Copy of Asset Purchase Agreement, dated as of August 30, 1996,
between Chrysler First Business Credit Corporation and
Berkeley Federal Bank & Trust, F.S.B. Filed as Exhibit 10-IIII
to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1996, and
incorporated herein by reference.
10-FFF Copy of Asset Purchase Agreement, dated as of August 30, 1996,
between Chrysler First Business Credit Corporation and
Blackrock Capital Finance, L.P. Filed as Exhibit 10-JJJJ to
the Quarterly Report on Form 10-Q for the quarter ended
September 30, 1996, and incorporated herein by reference.
10-GGG Copy of Certificate of Trust of Premier Auto Trust 1996-2.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-2 for the quarter ended June 30, 1996,
and incorporated herein by reference.
10-HHH Copy of Amended and Restated Trust Agreement, dated as of May
1, 1996, among Premier Auto Receivables Company, Chrysler
Financial Corporation, and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1996-2. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-2 for the quarter ended June 30, 1996, and
incorporated herein by reference.
10-III Copy of Indenture, dated as of May 1, 1996, between Premier
Auto Trust 1996-2 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1996-2. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-2 for the quarter ended
June 30, 1996, and incorporated herein by reference.
10-JJJ Copy of Sale and Servicing Agreement, dated as of May 1, 1996,
between Premier Auto Trust 1996-2 and Chrysler Financial
Corporation (excluding Schedules A and C), with respect to
Premier Auto Trust 1996-2. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1996-2 for
the quarter ended June 30, 1996, and incorporated herein by
reference.
10-KKK Copy of Certificate of Trust of Premier Auto Trust 1996-3.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-3 for the quarter ended June 30, 1996,
and incorporated herein by reference.
10-LLL Copy of Amended and Restated Trust Agreement, dated as of June
1, 1996, among Premier Auto Receivables Company, Chrysler
Financial Corporation, and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1996-3. Filed as
Exhibit 4.1 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-3 for the quarter ended June 30, 1996, and
incorporated herein by reference.
E-9
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-MMM Copy of Indenture, dated as of June 1, 1996, between Premier
Auto Trust 1996-3 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1996-3. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1996-3 for the quarter ended
June 30, 1996, and incorporated herein by reference.
10-NNN Copy of Sale and Servicing Agreement, dated as of June 1,
1996, between Premier Auto Trust 1996-3 and Chrysler Financial
Corporation (excluding Schedules A and C), with respect to
Premier Auto Trust 1996-3. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1996-3 for
the quarter ended June 30, 1996, and incorporated herein by
reference.
10-OOO Copy of Receivables Sale Agreement, dated as of November 25,
1996, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Asset Securitization Cooperative Corporation, and
Canadian Imperial Bank of Commerce, as Administrative Agent.
Filed as Exhibit 10-OOOO to the Annual Report on Form 10-K of
Chrysler Financial Corporation for the year ended December 31,
1996, and incorporated herein by reference.
10-PPP Copy of Certificate of Trust of Premier Auto Trust 1996-4.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-4 for the quarter ended September 30,
1996, and incorporated herein by reference. Filed as Exhibit
10-PPPP to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1996,
and incorporated herein by reference.
10-QQQ Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1996, among Premier Receivables L.L.C., Chrysler
Financial Corporation, and Chase Manhattan Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1996-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1996-4 for the quarter ended September 30,
1996, and incorporated herein by reference.
10-RRR Copy of Indenture, dated as of August 1, 1996, between Premier
Auto Trust 1996-4 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1996-4. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-4 for the quarter ended September 30, 1996,
and incorporated herein by reference
10-SSS Copy of Sale and Servicing Agreement, dated as of August 1,
1996, between Premier Auto Trust 1996-4 and Chrysler Financial
Corporation, with respect to Premier Auto Trust 1996-4. Filed
as Exhibit 4.3 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1996-4 for the quarter ended September 30, 1996,
and incorporated herein by reference.
10-TTT Copy of Receivables Sale Agreement, dated as of December 12,
1996, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Monte Rosa Capital Corporation, and Union Bank of
Switzerland, New York Branch, as Administrative Agent. Filed
as Exhibit 10-TTTT to the Annual Report on Form 10-K of
Chrysler Financial Corporation for the year ended December 31,
1996, and incorporated herein by reference.
10-UUU Copy of Receivables Sale Agreement, dated as of December 12,
1996, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Old Line Funding Corp., and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-UUUU to the Annual Report on
Form 10-K of Chrysler Financial Corporation for the year ended
December 31, 1996, and incorporated herein by reference.
E-10
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-VVV Copy of Amended and Restated Receivables Sale Agreement, dated
as of December 18, 1996, among Chrysler Credit Canada Ltd.,
Chrysler Financial Corporation, Canadian Master Trust, and
Nesbitt Burns, Inc. Filed as Exhibit 10-GGGG to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the
year ended December 31, 1997, and incorporated herein by
reference.
10-WWW Copy of Loan Agreement, dated as of August 1, 1996, between
Chrysler Canada Ltd. and Chrysler Credit Canada Ltd., with
respect to Gold Key Leasing. Filed as Exhibit 10-WWWW to the
Annual Report on Form 10-K of Chrysler Financial Corporation
for the year ended December 31, 1996, and incorporated herein
by reference.
10-XXX Copy of Series 1996-1 Supplement, dated as of September 30,
1996, among U.S. Auto Receivables Company, as Seller, Chrysler
Financial Corporation, as Servicer, and The Bank of New York,
as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 4-EE to the Annual Report on Form 10-K of
CARCO Auto Loan Master Trust for the year ended December 31,
1996, and incorporated herein by reference.
10-YYY Copy of Series 1996-2 Supplement, dated as of November 30,
1996, among U.S. Auto Receivables Company, as Seller, Chrysler
Financial Corporation, as Servicer, and The Bank of New York,
as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 4-FF to the Annual Report on Form 10-K of
CARCO Auto Loan Master Trust for the year ended December 31,
1996, and incorporated herein by reference.
10-ZZZ Copy of Certificate of Trust of Premier Auto Trust 1997-1.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-1 for the quarter ended March 31,
1997, and incorporated herein by reference.
10-AAAA Copy of Amended and Restated Trust Agreement, dated as of
March 1, 1997, among Premier Receivables L.L.C., Chrysler
Financial Corporation, and Chase Manhattan Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1997-1.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-1 for the quarter ended March 31,
1997, and incorporated herein by reference.
10-BBBB Copy of Indenture, dated as of March 1, 1997, between Premier
Auto Trust 1997-1 and The Bank of New York, as Indenture
Trustee, with respect to Premier Auto Trust 1997-1. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1997-1 for the quarter ended March 31, 1997, and
incorporated herein by reference.
10-CCCC Copy of Sale and Servicing Agreement, dated as of March 1,
1997, between Premier Auto Trust 1997-1 and Chrysler Financial
Corporation, with respect to Premier Auto Trust 1997-1. Filed
as Exhibit 4.3 to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1997-1 for the quarter ended March 31, 1997, and
incorporated herein by reference.
10-DDDD Copy of Receivables Sale Agreement, dated as of April 29,
1997, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Windmill Funding Corporation, and ABN AMRO Bank
N.V., as Administrative Agent. Filed as Exhibit 10-SSSS to the
Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended June 30, 1997, and incorporated
herein by reference.
E-11
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-EEEE Copy of Receivables Sale Agreement, dated as of June 16, 1997,
among Premier Receivables L.L.C., Chrysler Financial
Corporation, Park Avenue Receivables Corporation, and the
Chase Manhattan Bank, as Funding Agent. Filed as Exhibit
10-TTTT to the Quarterly Report of Chrysler Financial
Corporation on Form 10-Q for the quarter ended June 30, 1997,
and incorporated herein by reference.
10-FFFF Copy of Receivables Sale Agreement, dated as of September 29,
1997, among Premier Receivables L.L.C., Chrysler Financial
Corporation, Thunder Bay Funding Inc., and Royal Bank of
Canada, as Agent. Filed as Exhibit 10-UUUU to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended September 30, 1997, and incorporated herein by
reference.
10-GGGG Copy of Certificate of Trust of Premier Auto Trust 1997-2.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-2 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-HHHH Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1997, among Premier Auto Receivables Company,
Chrysler Financial Corporation, and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1997-2.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-2 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-IIII Copy of Indenture, dated as of August 1, 1997, between Premier
Auto Trust 1997-2 and The Bank of New York, as Indenture
Trustee (excluding Schedule A), with respect to Premier Auto
Trust 1997-2. Filed as Exhibit 4.2 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1997-2 for the quarter ended
September 30, 1997, and incorporated herein by reference.
10-JJJJ Copy of Sale and Servicing Agreement, dated as of August 1,
1997, between Premier Auto Trust 1997-2 and Chrysler Financial
Corporation (excluding Schedules A and C), with respect to
Premier Auto Trust 1997-2. Filed as Exhibit 4.3 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1997-2 for
the quarter ended September 30, 1997, and incorporated herein
by reference.
10-KKKK Copy of Certificate of Trust of Premier Auto Trust 1997-3.
Filed as Exhibit 3 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-3 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-LLLL Copy of Amended and Restated Trust Agreement, dated as of
September 1, 1997, among Premier Auto Receivables Company,
Chrysler Financial Corporation, and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1997-3.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1997-3 for the quarter ended September 30,
1997, and incorporated herein by reference.
10-MMMM Copy of Indenture, dated as of September 1, 1997, between
Premier Auto Trust 1997-3 and The Bank of New York, as
Indenture Trustee (excluding Schedule A), with respect to
Premier Auto Trust 1997-3. Filed as Exhibit 4.2 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1997-3 for
the quarter ended September 30, 1997, and incorporated herein
by reference.
10-NNNN Copy of Sale and Servicing Agreement, dated as of September 1,
1997, between Premier Auto Trust 1997-3. Filed as Exhibit 4.3
to the Quarterly Report on Form 10-Q of Premier Auto Trust
1997-3 for the quarter ended September 30, 1997, and
incorporated herein by reference.
E-12
<PAGE>
Chrysler Financial Corporation and Subsidiaries
EXHIBIT INDEX - continued
- -------------------------
10-OOOO Copy of Receivable Sale Agreement, dated as of November 6,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Preferred Receivables
Funding Corporation, as a Purchaser, Falcon Asset
Securitization Corporation, as a Purchaser and the First
National Bank of Chicago, as Administrative Agent. Filed as
Exhibit 10-ZZZZ to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1997,
and incorporated herein by reference.
10-PPPP Copy of Receivable Sale Agreement, dated as of November 20,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Receivables Capital
Corporation, as Purchaser and Bank of America National Trust
and Savings Association, as Administrative Agent. Filed as
Exhibit 10-AAAAA to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1997,
and incorporated herein by reference.
10-QQQQ Copy of Receivable Sale Agreement, dated as of December 3,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Old Line Funding Company,
as Purchaser and Royal Bank of Canada, as Agent. Filed as
Exhibit 10-BBBBB to the Annual Report on Form 10-K of Chrysler
Financial Corporation for the year ended December 31, 1997,
and incorporated herein by reference.
10-RRRR Copy of Receivable Sale Agreement, dated as of December 22,
1997, among Premier Receivables L.L.C., as Seller, Chrysler
Financial Corporation, as Servicer, Windmill Funding
Corporation, as Purchaser and ABN AMRO Bank N.V., as
Administrative Agent. Filed as Exhibit 10-CCCCC to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the
year ended December 31, 1997, and incorporated herein by
reference.
12-A Chrysler Financial Corporation and Subsidiaries Computations
of Ratios of Earnings to Fixed Charges.
12-B Chrysler Corporation and Consolidated Subsidiaries'
Computations of Ratios of Earnings to Fixed Charges and
Preferred Stock Dividend Requirements.
15-A Letter regarding unaudited interim financial information.
15-B Independent Accountants' Letter in lieu of Consent.
27 Financial Data Schedule.
E-13
<PAGE>
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Exhibit 12-A
Chrysler Financial Corporation and Subsidiaries
Computations of Ratios of Earnings to Fixed Charges
(dollars in millions)
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
<S> <C> <C>
Net earnings before cumulative effect of
changes in accounting principles $108 $ 93
Add back:
Taxes on income 52 48
Fixed charges 221 200
---- ----
Earnings available for fixed charges $381 $341
==== ====
Fixed charges:
Interest expense $218 $195
Rent 3 5
---- ----
Total fixed charges $221 $200
==== ====
Ratio of earnings to fixed charges 1.72 1.71
==== ====
</TABLE>
The ratio of earnings to fixed charges is computed by dividing earnings
available for fixed charges by total fixed charges. Fixed charges consist of
interest, amortization of debt discount and expense, and rentals. Rentals
included in fixed charges are the portion of total rent expense
representative of the interest factor (deemed to be one-third).
<PAGE>
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Exhibit 12-B
Chrysler Corporation and Consolidated Subsidiaries
Computations of Ratios of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
(dollars in millions)
<TABLE>
<CAPTION>
Three Months Ended
March 31,
------------------
1998 1997
---- ----
<S> <C> <C>
Net earnings before extraordinary item $1,052 $1,029
Add back:
Taxes on income 620 675
Fixed charges 355 328
Amortization of previously capitalized
interest 28 28
Deduct:
Capitalized interest 40 48
Undistributed earnings from less
than fifty percent owned affiliates -- 2
------ ------
Earnings available for fixed charges $2,015 $2,010
====== ======
Fixed charges:
Interest expense $ 278 $ 234
Capitalized interest 40 48
Credit line commitment fees 2 2
Interest portion of rent expense 35 44
------ ------
Total fixed charges $ 355 $ 328
====== ======
Ratio of earnings to fixed charges 5.68 6.13
====== ======
Preferred stock dividend requirements $ -- $ 1
====== ======
Ratio of earnings to fixed charges and
preferred stock dividend requirements 5.68 6.11
====== ======
</TABLE>
The ratio of earnings to fixed charges is computed by dividing earnings
available for fixed charges by total fixed charges. The ratio of earnings to
fixed charges and preferred stock dividend requirements is computed by
dividing earnings for fixed charges by the sum of total fixed charges and
preferred stock dividend requirements.
<PAGE>
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Exhibit 15-A
[Letterhead of Deloitte & Touche LLP]
Deloitte &
Touche LLP
____________ _________________________________________
Suite 900 Telephone (313) 396-3000
600 Renaissance Center
Detroit, Michigan 48243-1704
Chrysler Financial Corporation
27777 Franklin Road
Southfield, Michigan
We have made a review,in accordance with standards established by the
American Institute of Certified Public Accountants, of the unaudited interim
financial information of Chrysler Financial Corporation (a subsidiary of
Chrysler Corporation) and consolidated subsidiaries for the periods ended
March 31, 1998 and 1997, as indicated in our report dated April 8, 1998;
because we did not perform an audit, we expressed no opinion on that
information.
We are aware that our report referred to above, which is included in your
Quarterly Report on Form 10-Q for the quarter ended March 31, 1998,
is incorporated by reference in Registration Statement Nos. 33-55789,
33-64179, 333-31093 and 333-49647 on Form S-3.
We also are aware that the aforementioned report, pursuant to Rule 436(c)
under the Securities Act of 1933, is not considered a part of the Registration
Statement prepared or certified by an accountant or a report prepared or
certified by an accountant within the meaning of Sections 7 and 11 of that
Act.
/s/ Deloitte & Touche LLP
April 9, 1998
_______________
Deloitte Touche
Tohmatsu
International
_______________
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Exhibit 15-B
[Letterhead of Deloitte & Touche LLP]
Deloitte &
Touche LLP
____________ _________________________________________
Suite 900 Telephone (313) 396-3000
600 Renaissance Center
Detroit, Michigan 48243-1704
INDEPENDENT ACCOUNTANTS' REPORT
Shareholder and Board of Directors
Chrysler Financial Corporation
Southfield, Michigan
We have reviewed the accompanying condensed consolidated balance sheet of
Chrysler Financial Corporation (a subsidiary of Chrysler Corporation) and
consolidated subsidiaries as of March 31, 1998 and 1997, and the related
condensed consolidated statements of net earnings, shareholder's investment
and cash flows for the three months ended March 31, 1998 and 1997. These
financial statements are the responsibility of the Company's management.
We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures
to financial data and making inquiries of persons responsible for financial
and accounting matters. It is substantially less in scope than an audit
conducted in accordance with generally accepted auditing standards, the
objective of which is the expression of an opinion regarding the financial
statements taken as a whole. Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that
should be made to the condensed consolidated financial statements referred
to above for them to be in conformity with generally accepted accounting
principles.
We have previously audited, in accordance with generally accepted auditing
standards, the consolidated balance sheet of Chrysler Financial Corporation
and consolidated subsidiaries as of December 31, 1997, and the related
consolidated statements of net earnings and cash flows for the year then
ended (not presented herein); and in our report dated January 22, 1998, we
expressed an unqualified opinion on those consolidated financial statements.
In our opinion, the information set forth in the accompanying condensed
consolidated balance sheet as of December 31, 1997 is fairly presented, in
all material respects, in relation to the consolidated balance sheet from
which it has been derived.
/s/ Deloitte & Touche LLP
April 8, 1998
_______________
Deloitte Touche
Tohmatsu
International
_______________
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<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM CHRYSLER FINANCIAL CORPORATION AND
SUBSIDIARIES FINANCIAL STATEMENTS FOR THE THREE MONTHS
ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> MAR-31-1998
<CASH> $ 468
<SECURITIES> 427
<RECEIVABLES> 15,801
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 21,229
<CURRENT-LIABILITIES> 0
<BONDS> 14,751
0
0
<COMMON> 25
<OTHER-SE> 3,279
<TOTAL-LIABILITY-AND-EQUITY> 21,229
<SALES> 0
<TOTAL-REVENUES> 700
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 223
<LOSS-PROVISION> 99
<INTEREST-EXPENSE> 218
<INCOME-PRETAX> 160
<INCOME-TAX> 52
<INCOME-CONTINUING> 108
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 108
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
