SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 15, 1996
(Date of earliest event reported)
JOHN DEERE CAPITAL CORPORATION
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-6458
(Commission File Number)
36-2386361
(IRS Employer Identification No.)
Suite 600
First Interstate Bank Building
1 East First Street
Reno, Nevada 89501
(Address of principal executive offices and zip code)
(702)786-5527
(Registrant`s telephone number, including area code)
_______________________________________
Page 1 of 4 pages.
The Exhibit Index appears at Page 4
<PAGE>
Item 5. Other Information Events.
The following is disclosed on behalf of the Company's United
States credit
subsidiary, John Deere Capital Corporation, in connection with
the disclosure
requirements of programs providing for the issuance of debt
securities:
"John Deere Capital Corporation's net income was $32.3 million
in the first quarter
of 1996 compared with $27.4 million in the same period last
year. Net income for
the quarter was favorably affected by a larger average portfolio
financed, slightly
offset by lower financing spreads compared with a year ago. The
average balance
of credit receivables and leases financed was 19 percent higher
in the first quarter
of 1996 compared with the same period last year.
Credit receivable and lease acquisitions increased 25 percent
during the first
quarter. Acquisitions of John Deere equipment notes were 15
percent higher in the
current quarter, primarily due to increased retail sales of John
Deere equipment.
Acquisitions of retail notes, revolving charge accounts, leases
and wholesale
receivables all increased during the quarter compared with last
year. Retail notes
acquired during the quarter totaled $834 million, a 19 percent
increase over first
quarter 1995 acquisitions.
Net receivables and leases financed by John Deere Capital
Corporation were
$5.005 billion at January 31, 1996 compared with $4.208 billion
one year ago. The
increase resulted from credit acquisitions exceeding collections
during the last 12
months, partially offset by retail note sales during the same
period. Net credit
receivables and leases administered, which include receivables
previously
securitized and sold, totaled $5.969 billion at January 31, 1996
compared with
$5.195 billion at January 31, 1995."
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(c) Exhibits
(99) Press release and additional information of Deere &
Company
Signature
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant
has duly caused this report to be signed on its behalf by the
undersigned hereto
duly authorized.
JOHN DEERE CAPITAL CORPORATION
By /s/ Frank S. Cottrell
Frank S. Cottrell, Secretary
Dated: February 15, 1996
<PAGE>
EXHIBIT INDEX
Sequential
Number and Description of Exhibit Page
Number
99. Press release and additional information of
Deere & Company (Incorporated by reference
to Deere & Company Current Report on Form 8-K
dated February 15, 1996, file number 1-4121).
