SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________
FORM 10-K
FOR ANNUAL AND TRANSITION REPORTS
PURSUANT TO SECTIONS 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
__x__ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended: December 31, 1997
OR
_____ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 33-93570
Chase Manhattan Home Equity Loan Trust 1995-1
(issuer)
The Chase Manhattan Bank
(Exact name of registrant as specified in its charter)
New York 13-2633612
(State or Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification
Number)
270 Park Avenue, New York, New York 10017
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (909) 205-6000
Securities registered pursuant to Section 12(b) of the Act: NONE
Securities registered pursuant to Section 12(g) of the Act: NONE
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
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K. __X__
State the aggregate market value of the voting stock held by non-
affiliates of the registrant:
The registrant has no voting stock or class of common stock outstanding
as of the date of this report.
Introductory Note
Chase Manhattan Home Equity Loan Trust 1995-1 (the "Trust") was
formed pursuant to a Pooling and Servicing Agreement (the
"Agreement") between The Chase Manhattan Bank (the "Bank"), as
seller and servicer, and an unrelated trustee (the "Trustee").
The Trust files reports pursuant to Sections 13 and 15(d) of the
Securities Exchange Act of 1934, as amended the ("Exchange Act"),
in the manner described in "no-action" letters submitted to the
Office of Chief Counsel on behalf of the originators of
comparable trusts. Accordingly, responses to certain Items have
been omitted from or modified in this Annual Report on Form 10-K.
Part I
Item 1. Business
Omitted.
Item 2. Properties
The aggregate amount of charge-offs with respect to the
assets of the Trust for the year ended December 31, 1997
was $252,324.53. As of December 31, 1997, the aggregate
Pool Balance of Receivables in the Trust was
$281,633,774.30 and the aggregate principal balances of
delinquent Receivables in the Trust were as follows:
delinquency principal
balance
30-59 days $3,835,119.99
60-89 days $565,156.90
90-120 days $166,818.49
120+ days $1,131,212.76
Item 3. Legal Proceedings
The registrant knows of no material pending proceedings
with respect to the Trust, the Trustee or the Bank.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote of security holders
during the fiscal year covered by this report.
Part II
Item 5. Market for Registrant's Common Equity and Related
Stockholders Matters
The registrant has no voting stock or class of common
stock outstanding as of the date of this report. The
beneficial interest in the Trust is represented by
certificates of beneficial interest (the "Certificates").
To the knowledge of the registrant, the Certificates are
traded in the over-the-counter market to a limited extent.
The records of the Trust indicate that as of December 31,
1997, there was one Certificateholder of Record.
Item 6. Selected Financial Data
Omitted.
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations
The Chase Manhattan Corporation (the "Corporation") has
been actively working on the year 2000 computer problem
for the past several years and has made significant
progress in repairing its systems. The Corporation's year
2000 remediation program includes repair of the systems of
the Servicer for the Trust. To date, the Corporation has
completed the inventory, assessment and strategy phases of
its year 2000 program. During these phases, the
Corporation identified hardware and software that required
modification, developed implementation plans, prioritized
tasks and established implementation time frames. The
process undertaken by the Corporation has required working
with vendors, third-party service providers and customers,
as well as with the Corporation's internal users of
systems applications. Although many applications,
interfaces and locations are already able to handle post-
year 2000 data processing, much work remains to be
completed. During 1998, year 2000 activities are being
given highest priority, and the Corporation is targeting
to have all major systems repaired, including those
systems that are used by the Corporation in connection
with the Trust, and the majority of testing of such
systems, including those used in connection with the
Trust, completed by year end. Notwithstanding the
substantial expense involved in such efforts by the
Corporation, it is not expected that the Trust will be
required to bear any expense in connection with the
Corporation's year 2000 remediation program.
Item 7A. Quantitative and Qualitative Disclosures
About Market Risk
Not applicable.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure
None.
Part III
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11. Executive Compensation
Omitted
Item 12. Security Ownership of Certain Beneficial Owners and
Management
As of December 31, 1997, except for a Certificate
registered in the name of the registrant, all of the
Certificates were registered in the name of CEDE and Co.
The registrant understands that CEDE and Co. is the
nominee for The Depository Trust Company ("DTC"). The
records of DTC indicate that at December 31, 1997, there
were 10 participants in the DTC system that held positions
in Certificates representing interests in the Trust equal
to more than 5% of the total principal amount of
Certificates outstanding on that date.
The registrant understands that DTC has no knowledge of
the actual beneficial owners of the Certificates held of
record by CEDE & Co., and that DTC knows only the identity
of the participants to whose accounts such Certificates
are credited, who may or may not be the beneficial owners
of the Certificates.
Item 13. Certain Relationships and Related Transactions
None.
Part IV
Item 14. Exhibits, Financial Statement Schedules, and Reports of
Form 8-K
(a) Exhibits. No exhibits are being filed as part of
this Annual Report on Form 10-K..
(b) Reports on Form 8-K.
The following reports were filed on Form 8-K in the
fourth quarter of 1997:
date items reported financial statements
October 20, 1997 5, 7 monthly report to
certificateholders
dated 10/15/97
November 26, 1997 5, 7 monthly report to
certificateholders
dated 11/17/97
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) 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.
Chase Manhattan Home Equity Loan Trust 1995-1
by The Chase Manhattan Bank
By: /s/ Richard Dargan
Name: Richard Dargan
Title: Vice President
Date: March 31, 1998
