CHASE MANHATTAN BANK /NY/
8-K, 2000-05-24
ASSET-BACKED SECURITIES
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<PAGE>


                       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: May 15, 2000

                         CHASE CREDIT CARD MASTER TRUST
            (formerly known as "Chemical Master Credit Card Trust I")
           Series 1995-2, Series 1995-3, Series 1996-1, Series 1996-2
                                and Series 1996-3
- --------------------------------------------------------------------------------
                             (Issuer of Securities)

          THE CHASE MANHATTAN BANK (formerly known as 'Chemical Bank')
                             (Sponsor of the Trust)
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         New York                     33-94190                13-4994650
- ----------------------------  -------------------------  -----------------------
(State or other jurisdiction  (Commission File Number)  (IRS Employer
 of incorporation)                                       Identification No.)


              270 Park Avenue, New York, New York             10017
         ------------------------------------------------  ------------
             (Address of principal executive offices)       (Zip Code)

Registrant's telephone number, including area code:  (212) 270-6000



<PAGE>



Item 5.  Other Events:


         Chase Credit Card Master Trust, which was formerly known as Chemical
Master Credit Card Trust I, is the issuer of 24 outstanding series of asset
backed certificates. The asset backed certificates are serviced in accordance
with the Third Amended and Restated Pooling and Servicing Agreement, dated as of
September 1, 1999, as amended. The parties to the Pooling and Servicing
Agreement are: The Chase Manhattan Bank, as transferor prior to June 1, 1996 and
as servicer, Chase Manhattan Bank USA, National Association, as transferor after
June 1, 1996, and The Bank of New York, as trustee.

         On May 15, 2000, Chase USA, on behalf of The Chase Manhattan Bank as
servicer, distributed monthly interest to the holders of the Series 1995-2,
1995-3, 1996-1, 1996-2 and 1996-3 certificates. Chase USA furnished copies of
monthly certificateholders' reports for each of those series as required by the
Pooling and Servicing Agreement. Copies of those monthly certificateholders'
reports are being filed as Exhibit 20.1 to this Current Report on Form 8-K.

Item 7(c).        Exhibits

                  Exhibits          Description
                  ----------        ---------------

                  20.1              Monthly Reports with respect to the May 15,
                                    2000 distribution


<PAGE>



                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Dated:  May 24, 2000

                                                     The Chase Manhattan Bank,
                                                     as Servicer

                                                     By:  /s/ Patrick Margey
                                                     ---------------------------
                                                     Name:    Patrick Margey
                                                     Title:   Vice President


<PAGE>





                                                     INDEX TO EXHIBITS
                                                     ---------------------------
Exhibit No.                                          Description
- ---------------                                      -----------
20.1                                                 Monthly Reports with
                                                     respect to the May 15, 2000
                                                     distribution




<PAGE>


                         Chase Manhattan Bank USA, N.A.

                      Monthly Certificateholder's Statement

                         Chase Credit Card Master Trust

                                  Series 1995-2
<TABLE>
<CAPTION>

                                                                                      Distribution Date:       05/15/2000


Section 5.2 - Supplement                                   Class A           Class B      Collateral             Total
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                 <C>              <C>             <C>                 <C>
(i)     Monthly Principal Distributed                           0.00            0.00            0.00                 0.00

(ii)    Monthly Interest Distributed                    3,115,000.00      181,245.17      242,406.13         3,538,651.30
        Deficiency Amounts                                      0.00            0.00                                 0.00

        Additional Interest                                     0.00            0.00                                 0.00

        Accrued and Unpaid Interest                                                             0.00                 0.00



(iii)   Collections of Principal
        Receivables                                    77,893,038.71    4,425,622.82    6,196,155.19        88,514,816.71

(iv)    Collections of Finance Charge
        Receivables                                     8,779,471.91      498,820.33      698,380.39         9,976,672.63

(v)     Aggregate Amount of Principal
        Receivables                                                                                     20,420,851,673.91

                            Investor Interest         600,000,000.00   34,090,000.00   47,728,181.82       681,818,181.82
                            Adjusted Interest         600,000,000.00   34,090,000.00   47,728,181.82       681,818,181.82

                                        Series

        Floating Investor Percentage      3.34%               88.00%           5.00%           7.00%              100.00%
        Fixed Investor Percentage         3.34%               88.00%           5.00%           7.00%              100.00%

(vi)    Receivables Delinquent
        (As % of Total Receivables)
            Current                                                                                                96.43%
            30 to 59 days                                                                                           1.08%
            60 to 89 days                                                                                           0.81%
            90 or more days                                                                                         1.68%
                                                                                                        -----------------
                                   Total Receivables                                                              100.00%

(vii)   Investor Default Amount                         2,707,297.22      153,819.60      215,357.29         3,076,474.12

(viii)  Investor Charge-Offs                                    0.00            0.00            0.00                 0.00

(ix)    Reimbursed Investor
        Charge-Offs/Reductions                                  0.00            0.00            0.00

(x)     Servicing Fee                                     500,000.00       28,408.33       39,773.48           568,181.82

(xi)    Portfolio Yield (Net of
        Defaulted Receivables)                                                                                     12.14%

(xii)   Reallocated Monthly Principal                                           0.00            0.00                 0.00

(xiii)  Closing Investor Interest
        (Class A Adjusted)                            600,000,000.00   34,090,000.00   47,728,181.82       681,818,181.82

(xiv)   LIBOR                                                                                                    6.13000%

(xv)    Principal Funding Account
        Balance                                                                                                      0.00

(xvii)  Accumulation Shortfall                                                                                       0.00

(xviii) Principal Funding Investment
        Proceeds                                                                                                     0.00

(xx)    Principal Investment Funding
        Shortfall                                                                                                    0.00

(xxi)   Available Funds                                 8,279,471.91      470,412.00      658,606.90         9,408,490.81


(xxii)  Certificate Rate                                    6.23000%        6.38000%        6.53000%

- -------------------------------------------------------------------------------------------------------------------------
</TABLE>


        By:
                -----------------------------
        Name:   Patricia M. Garvey
        Title:  Vice President

<PAGE>


                         Chase Manhattan Bank USA, N.A.
                      Monthly Certificateholder's Statement

                         Chase Credit Card Master Trust
                                  Series 1995-3
<TABLE>
<CAPTION>

                                                                                      Distribution Date:       05/15/2000


Section 5.2 - Supplement                                   Class A           Class B      Collateral             Total
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                 <C>              <C>             <C>                 <C>
(i)     Monthly Principal Distributed                           0.00            0.00            0.00                 0.00

(ii)    Monthly Interest Distributed                    2,336,250.00      136,149.60      185,282.19         2,657,681.79
        Deficiency Amounts                                      0.00            0.00                                 0.00
        Additional Interest                                     0.00            0.00                                 0.00
        Accrued and Unpaid Interest                                                             0.00                 0.00

(iii)   Collections of Principal
        Receivables                                    58,419,779.03    3,319,282.02    4,647,051.48        66,386,112.54

(iv)    Collections of Finance Charge
        Receivables                                     6,584,603.93      374,122.56      523,777.97         7,482,504.47

(v)     Aggregate Amount of Principal
        Receivables                                                                                     20,420,851,673.91

                            Investor Interest         450,000,000.00   25,568,000.00   35,795,636.36       511,363,636.36
                            Adjusted Interest         450,000,000.00   25,568,000.00   35,795,636.36       511,363,636.36

                                             Series

        Floating Investor Percentage           2.50%          88.00%           5.00%           7.00%              100.00%
        Fixed Investor Percentage              2.50%          88.00%           5.00%           7.00%              100.00%

(vi)    Receivables Delinquent
        (As % of Total Receivables)
            Current                                                                                                96.43%
            30 to 59 days                                                                                           1.08%
            60 to 89 days                                                                                           0.81%
            90 or more days                                                                                         1.68%
                                                                                                        -----------------
                                   Total Receivables                                                              100.00%

(vii)   Investor Default Amount                         2,030,472.92      115,366.96      161,515.71         2,307,355.59

(viii)  Investor Charge-Offs                                    0.00            0.00            0.00                 0.00

(ix)    Reimbursed Investor
        Charge-Offs/Reductions                                  0.00            0.00            0.00

(x)     Servicing Fee                                     375,000.00       21,306.67       29,829.70           426,136.36

(xi)    Portfolio Yield (Net of
        Defaulted Receivables)                                                                                     12.14%

(xii)   Reallocated Monthly Principal                                           0.00            0.00                 0.00

(xiii)  Closing Investor Interest
        (Class A Adjusted)                            450,000,000.00   25,568,000.00   35,795,636.36       511,363,636.36

(xiv)   LIBOR                                                                                                    6.13000%

(xv)    Principal Funding Account Balance                                                                            0.00

(xvii)  Accumulation Shortfall                                                                                       0.00

(xviii) Principal Funding Investment
        Proceeds                                                                                                     0.00

(xx)    Principal Investment Funding
        Shortfall                                                                                                    0.00

(xxi)   Available Funds                                 6,209,603.93      352,815.90      493,948.28         7,056,368.11

(xxii)  Certificate Rate                                    6.23000%        6.39000%        6.65500%

- -------------------------------------------------------------------------------------------------------------------------
</TABLE>


        By:
                -----------------------------
        Name:   Patricia M. Garvey
        Title:  Vice President

<PAGE>

                         Chase Manhattan Bank USA, N.A.

                      Monthly Certificateholder's Statement

                         Chase Credit Card Master Trust

                                  Series 1996-1
<TABLE>
<CAPTION>

                                                                                      Distribution Date:       05/15/2000


Section 5.2 - Supplement                                   Class A           Class B      Collateral             Total
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                 <C>              <C>             <C>                 <C>
(i)     Monthly Principal Distributed                           0.00            0.00            0.00                 0.00

(ii)    Monthly Interest Distributed                    3,237,500.00      189,248.43      282,805.46         3,709,553.89
        Deficiency Amounts                                      0.00            0.00                                 0.00
        Additional Interest                                     0.00            0.00                                 0.00
        Accrued and Unpaid Interest                                                             0.00                 0.00

(iii)   Collections of Principal
        Receivables                                    90,875,211.83    5,163,269.89    7,228,804.45       103,267,286.17

(iv)    Collections of Finance Charge
        Receivables                                    10,242,717.23      581,961.93      814,772.24        11,639,451.40

(v)     Aggregate Amount of Principal
        Receivables                                                                                     20,420,851,673.91

                            Investor Interest         700,000,000.00   39,772,000.00   55,682,545.45       795,454,545.45
                            Adjusted Interest         700,000,000.00   39,772,000.00   55,682,545.45       795,454,545.45

                                         Series

        Floating Investor Percentage      3.90%               88.00%           5.00%           7.00%              100.00%
        Fixed Investor Percentage         3.90%               88.00%           5.00%           7.00%              100.00%

(vi)    Receivables Delinquent
        (As % of Total Receivables)
            Current                                                                                                96.43%
            30 to 59 days                                                                                           1.08%
            60 to 89 days                                                                                           0.81%
            90 or more days                                                                                         1.68%
                                                                                                        -----------------
                              Total Receivables                                                                   100.00%

(vii)   Investor Default Amount                         3,158,513.43      179,457.71      251,248.67         3,589,219.80

(viii)  Investor Charge-Offs                                    0.00            0.00            0.00                 0.00

(ix)    Reimbursed Investor
        Charge-Offs/Reductions                                  0.00            0.00            0.00

(x)     Servicing Fee                                     583,333.33       33,143.33       46,402.12           662,878.79

(xi)    Portfolio Yield (Net of Defaulted
        Receivables)                                                                                               12.14%

(xii)   Reallocated Monthly Principal                                           0.00            0.00                 0.00

(xiii)  Closing Investor Interest
        (Class A Adjusted)                            700,000,000.00   39,772,000.00   55,682,545.45       795,454,545.45

(xiv)   LIBOR                                                                                                    6.13000%

(xv)    Principal Funding Account Balance                                                                            0.00

(xvii)  Accumulation Shortfall                                                                                       0.00

(xviii) Principal Funding Investment
        Proceeds                                                                                                     0.00

(xx)    Principal Investment Funding
        Shortfall                                                                                                    0.00

(xxi)   Available Funds                                 9,659,383.90      548,818.59      768,370.12        10,976,572.61

(xxii)  Certificate Rate                                    5.55000%        5.71000%        6.53000%

- -------------------------------------------------------------------------------------------------------------------------
</TABLE>


        By:
                -----------------------------
        Name:   Patricia M. Garvey
        Title:  Vice President



<PAGE>

                         Chase Manhattan Bank USA, N.A.

                      Monthly Certificateholder's Statement

                         Chase Credit Card Master Trust

                                  Series 1996-2
<TABLE>
<CAPTION>

                                                                                      Distribution Date:       05/15/2000


Section 5.2 - Supplement                                   Class A           Class B      Collateral             Total
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                 <C>              <C>             <C>                 <C>
(i)     Monthly Principal Distributed                           0.00            0.00            0.00                 0.00

(ii)    Monthly Interest Distributed                    2,740,833.33      160,416.67      234,111.11         3,135,361.11
        Deficiency Amounts                                      0.00            0.00                                 0.00
        Additional Interest                                     0.00            0.00                                 0.00
        Accrued and Unpaid Interest                                                             0.00                 0.00

(iii)   Collections of Principal
        Receivables                                    71,401,952.15    4,056,929.10    5,679,700.74        81,138,581.99

(iv)    Collections of Finance Charge
        Receivables                                     8,047,849.25      457,264.16      640,169.83         9,145,283.24

(v)     Aggregate Amount of Principal
        Receivables                                                                                     20,420,851,673.91

                            Investor Interest         550,000,000.00   31,250,000.00   43,750,000.00       625,000,000.00
                            Adjusted Interest         550,000,000.00   31,250,000.00   43,750,000.00       625,000,000.00

                                        Series

        Floating Investor Percentage     3.06%                88.00%           5.00%           7.00%              100.00%
        Fixed Investor Percentage        3.06%                88.00%           5.00%           7.00%              100.00%

(vi)    Receivables Delinquent
        (As % of Total Receivables)
            Current                                                                                                96.43%
            30 to 59 days                                                                                           1.08%
            60 to 89 days                                                                                           0.81%
            90 or more days                                                                                         1.68%
                                                                                                        -----------------
                              Total Receivables                                                                   100.00%

(vii)   Investor Default Amount                         2,481,689.12      141,005.06      197,407.09         2,820,101.27

(viii)  Investor Charge-Offs                                    0.00            0.00            0.00                 0.00

(ix)    Reimbursed Investor
        Charge-Offs/Reductions                                  0.00            0.00            0.00

(x)     Servicing Fee                                     458,333.33       26,041.67       36,458.33           520,833.33

(xi)    Portfolio Yield
        (Net of Defaulted Receivables)                                                                             12.14%

(xii)   Reallocated Monthly Principal                                           0.00            0.00                 0.00

(xiii)  Closing Investor Interest
        (Class A Adjusted)                            550,000,000.00   31,250,000.00   43,750,000.00       625,000,000.00

(xiv)   LIBOR                                                                                                    6.13000%

(xv)    Principal Funding Account Balance                                                                            0.00

(xvii)  Accumulation Shortfall                                                                                       0.00

(xviii) Principal Funding Investment
        Proceeds                                                                                                     0.00

(xx)    Principal Investment Funding
        Shortfall                                                                                                    0.00

(xxi)   Available Funds                                 7,589,515.92      431,222.50      603,711.49         8,624,449.91

(xxii)  Certificate Rate                                    5.98000%        6.16000%        6.88000%

- -------------------------------------------------------------------------------------------------------------------------
</TABLE>


        By:
                -----------------------------
        Name:   Patricia M. Garvey
        Title:  Vice President

<PAGE>

                         Chase Manhattan Bank USA, N.A.
                      Monthly Certificateholder's Statement

                         Chase Credit Card Master Trust
                                  Series 1996-3
<TABLE>
<CAPTION>

                                                                                      Distribution Date:       05/15/2000


Section 5.2 - Supplement                                   Class A           Class B      Collateral             Total
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                 <C>              <C>             <C>                 <C>
(i)     Monthly Principal Distributed                           0.00            0.00            0.00                 0.00

(ii)    Monthly Interest Distributed                    2,434,132.89      141,813.47      175,368.97         2,751,315.33
        Deficiency Amounts                                      0.00            0.00                                 0.00
        Additional Interest                                     0.00            0.00                                 0.00
        Accrued and Unpaid Interest                                                             0.00                 0.00

(iii)   Collections of Principal
        Receivables                                    53,484,346.28    3,038,867.08    4,254,575.01        60,777,788.37

(iv)    Collections of Finance Charge
        Receivables                                     6,028,321.96      342,516.46      479,541.21         6,850,379.63

(v)     Aggregate Amount of Principal
        Receivables                                                                                     20,420,851,673.91

                            Investor Interest         411,983,000.00   23,408,000.00   32,772,440.86       468,163,440.86
                            Adjusted Interest         411,983,000.00   23,408,000.00   32,772,440.86       468,163,440.86

                                        Series

        Floating Investor Percentage      2.29%               88.00%           5.00%           7.00%              100.00%
        Fixed Investor Percentage         2.29%               88.00%           5.00%           7.00%              100.00%

(vi)    Receivables Delinquent
        (As % of Total Receivables)
            Current                                                                                                96.43%
            30 to 59 days                                                                                           1.08%
            60 to 89 days                                                                                           0.81%
            90 or more days                                                                                         1.68%
                                                                                                        -----------------
                             Total Receivables                                                                    100.00%

(vii)   Investor Default Amount                         1,858,934.05      105,620.69      147,874.56         2,112,429.31

(viii)  Investor Charge-Offs                                    0.00            0.00            0.00                 0.00

(ix)    Reimbursed Investor
        Charge-Offs/Reductions                                  0.00            0.00            0.00

(x)     Servicing Fee                                     343,319.17       19,506.67       27,310.37           390,136.20

(xi)    Portfolio Yield
        (Net of Defaulted Receivables)                                                                             12.14%

(xii)   Reallocated Monthly Principal                                           0.00            0.00                 0.00

(xiii)  Closing Investor Interest
        (Class A Adjusted)                            411,983,000.00   23,408,000.00   32,772,440.86       468,163,440.86

(xiv)   LIBOR                                                                                                    6.13000%

(xv)    Principal Funding Account Balance                                                                            0.00

(xvii)  Accumulation Shortfall                                                                                       0.00

(xviii) Principal Funding Investment
        Proceeds                                                                                                     0.00

(xx)    Principal Investment Funding
        Shortfall                                                                                                    0.00

(xxi)   Available Funds                                 5,685,002.79      323,009.80      452,230.84         6,460,243.43
x
(xxii)  Certificate Rate                                    7.09000%        7.27000%        6.88000%

- -------------------------------------------------------------------------------------------------------------------------
</TABLE>


        By:
                -----------------------------
        Name:   Patricia M. Garvey
        Title:  Vice President










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