FCC NATIONAL BANK
8-K, 1996-07-12
ASSET-BACKED SECURITIES
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<PAGE>
 
                                   FORM 8-K
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of l934


Date of Report (Date of earliest event reported) July 12, 1996
                                                 -----------------
FCC National Bank
- ------------------------------------------------------------------
     (Exact name of registrant as specified in its charters)


United States of America         0-16337             51-0269396
- ------------------------------------------------------------------
(State or other jurisdiction   (Commission          (IRS Employer
      of incorporation)       File Numbers)   Identification No.)


One Gateway Center, 300 King Street, Wilmington, Delaware 19801
- ------------------------------------------------------------------
   (Address of principal executive office)             (Zip Code)


Registrant's telephone number, including area code:   302-656-5020
<PAGE>
 
                                                     2


Item 5.  Other Events.
- ------                

The Registrant's hereby incorporates by reference the information contained in
Attachment A hereto in response to this Item 5.

                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of l934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                           FCC NATIONAL BANK
                           ----------------------------------
                           (Registrant)


Date: July 12, 1996        By  /s/ Sharon A. Renchof
                             -------------------------------------
                           Title: Assistant Secretary
<PAGE>
 
Attachment A



July 12, 1996 -- FCC National Bank (FCCNB) announced today the lump sum addition
to First Chicago Master Trust II (the "Trust") of approximately $2.81 billion of
receivables generated in approximately 1.25 million consumer credit card
accounts (the "Additional Accounts").  Approximately 60 percent of the
Additional Accounts have been opened for 2 years or more.

Payment activity related to the receivables in the Additional Accounts, which
include approximately $2.78 billion of aggregate principal receivables as of the
respective billing dates for such accounts in June 1996, will be reflected in
the Trust's servicing reports for July 1996 and in the Trust's payment
allocations for the August 15, 1996 distribution date.  New receivables
generated in such Additional Accounts after the lump sum addition will be
automatically included in the Trust.

With the addition of such receivables to the Trust, aggregate principal
receivables in the Trust as of the respective billing dates in June 1996 was
approximately $15.53 billion.  The Trust currently has issued and outstanding 13
series of investor certificates with an aggregate principal amount of
approximately $7.33 billion as of July 12, 1996.

If payment activity related to the additional receivables had been included in
the Trust's servicing reports for June 1996 and in the Trust's payment
allocations for the July 15, 1996 distribution date, the Portfolio Yield for the
Trust for such period would have been increased by approximately 200 basis
points.  Because the Additional Accounts may have different terms and conditions
than other accounts whose receivables are included in the Trust, there can no
assurance as to how the addition of the receivables in such accounts may affect
the performance of the Trust in the future.


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