SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 15, 1996
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CITIBANK (SOUTH DAKOTA), N.A.
ON BEHALF OF
NATIONAL CREDIT CARD TRUST 1989-4
(Issuer in respect of the National Credit Card Trust 1989-4
9.45% Credit Card Participation Certificates
(collectively, the "Certificates"))
(Exact name of registrant as specified in charter)
UNITED STATES OF AMERICA 33-28978
(State or other jurisdiction of (Commission File No.)
incorporation)
46-0358360
(I.R.S. Employer Identification No.)
701 EAST 60TH STREET, NORTH
SIOUX FALLS, SOUTH DAKOTA 57117
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (605) 331-2626
NOT APPLICABLE
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
Set forth below is the Certificateholder's Statement relating to the
Distribution Date occurring on November 15, 1996 and the related Due Period
delivered pursuant to Section 5.02 of the Pooling and Servicing Agreement dated
as of June 15, 1989 (the "Pooling Agreement") relating to National Credit Card
Trust 1989-4 among Citibank (South Dakota), N.A., as Seller and Servicer,
Citibank (Nevada), National Association, as Seller, and Yasuda Bank and Trust
Company (U.S.A.), as Trustee. The Certificateholder's Statement contains
information relating to the distribution to Certificateholders on the referenced
Distribution Date as well as information relating to the Receivables and the
Accounts from which the Receivables have arisen. Capitalized terms used but not
defined herein have the meanings set forth in the Pooling Agreement.
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CERTIFICATEHOLDER'S STATEMENT
CITIBANK (SOUTH DAKOTA), N.A.
CITIBANK (NEVADA), NATIONAL ASSOCIATION
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NATIONAL CREDIT CARD TRUST 1989-4
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Under the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of June 15, 1989, by and among Citibank (South Dakota),
N.A., as Seller and Servicer, Citibank (Nevada), National Association, as
Seller and Yasuda Bank and Trust Company, as Trustee, the Servicer is required
to prepare certain information each month regarding current distributions to
Certificate- holders and the performance of the National Credit Card Trust
1989-4 (the Trust") during the previous month. The information which is
required to be prepared with respect to the distribution on November 15, 1996
Distribution Date ("Distribution Date") and with respect to the performance of
the Trust during the Due Period(s) with respect to such Payment Date is set
forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Certificate. Certain other information
is presented based on the aggregate amounts for the Trust as a whole. All
capitalized terms used herein shall have the respective meanings set forth in
the Pooling and Servicing Agreement.
A. Information Regarding Distributions to Certificateholders
(Stated on the Basis of $1,000 Current Invested Amount).
1. The total amount of the distribution to
Certificateholders on the Distribution
Date, per $1,000 interest..........................$ 507.875
2. The amount of the distribution set forth
in paragraph 1 above in respect of principal
on the Investor Certificates, per $1,000
interest...........................................$ 500.000
3. The amount of the distribution set forth
in paragraph 1 above in respect of interest
on the Investor Certificates, per $1,000
interest...........................................$ 7.875
B. Information Regarding the Performance of the Trust
1. Collections of Receivables.
(a) The aggregate amount of Collections of
Receivables processed during the Due
Period(s) with respect to the Distribution
Date..........................................$ 155,683,877
(b) The aggregate amount of Collections of
Receivables in respect of Finance Charge
Receivables processed during the Due
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Period(s) with respect to the Distribution
Date..........................................$ 16,315,251 [1]
(c) The aggregate amount of Collections of
Receivables in respect of Principal
Receivables processed during the Due
Period(s) with respect to the Distribution
Date..........................................$ 139,368,626 [2]
2. Allocation of Receivables.
(a) The Floating Allocation Percentage
for the Due Period(s) with respect
to the Distribution Date...................... 22.0336 %
(b) The Fixed Allocation Percentage............... 82.193% [3]
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[1] Includes Interchange and Recoveries.
[2] During the Revolving Period, this amount (or the portion thereof
received prior to the occurrence of an Amortization Event) will be paid
solely to the holders of the Seller Certificate.
[3] Applicable during the Accumulation Period and any Early
Amortization Period.
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3. Delinquent Balances.
(a) The aggregate outstanding balance of the
Accounts which were delinquent by 35 days
to 64 days as of the close of business on
the last day of the calendar month preceding
the Distribution Date.........................$ 19,226,286
(b) The aggregate outstanding balance of the
Accounts which were delinquent by 65
days or more as of the close of business
on the last day of the calendar month
preceding the Distribution Date...............$ 26,856,017
4. Investor Default Amount.
The aggregate Investor Default Amount for
the Distribution Date..............................$ 1,009,372
5. Investor Charge-Offs; Reimbursement of Charge-Offs.
(a) The Draw Amount, if any, for the Distri-
bution Date. The Draw Amount for any
Distribution Date is equal to the amount
by which Monthly Interest plus the
Investor Default Amount for such Distri-
bution Date exceeds the Floating
Allocation Percentage of Collection
in respect of Finance Charge Receivables
deposited in the Collections Account for
the Due Period preceding such Distribution
Date..........................................$ 0
(b) The Investor Charge-Offs, if any, for the
Distribution Date. The Investor Charge-
Offs for any Distribution Date are equal
to the excess of the Draw Amount for
such Distribution Date over the Available
L/C Amount on such Distribution Date..........$ 0
(c) The amount of the Investor Charge-Offs
set forth in Item 6(b) above, per $1,000
interest (which will have the effect of
reducing, pro rata, the amount of each
Investor Certificateholder's investment)......$ 0
(d) The total amount reimbursed to the Trust
for such Distribution Date in respect of
Investor Charge-Offs..........................$ 0
(e) The amount set forth in Item 5(d) above,
per $1,000 interest (which will have the
effect of increasing, pro rata, the amount
of each Investor Certificateholder's
investment)...................................$ 0
(f) The amount, if any, by which the outstanding
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principal balance of the Investor Certificate
exceeds the Invested Amount as of the end of
the day on the Record Date with respect to
the Distribution Date.........................$ 0
6. Investor Servicing Fee.
The aggregate amount of the Monthly Servicing
Fee payable by the Trust to the Servicer for
the Distribution Date..............................$ 492,917
7. Available L/C Amount.
(a) The amount available to be drawn under
the L/C (the "Available L/C Amount")
as of the close of business on such
Distribution Date, after giving effect
to any drawings on the L/C and payments
to the L/C Issuer on such Distribution Date...$ 25,350,000
(b) The ratio of the Available L/C Amount
to the Invested Amount, (less the
aggregate principal amount on deposit
in the Principal Funding Account) as
of the close of business on such
Distribution Date, after giving
effect to any drawings on the L/C
and payments to the L/C Issuer on
such Distribution Date......................... 36.000%
8. The existing Deficit Controlled Amortization
Amount for such Distribution Date..................$ N/A [5]
C. The Pool Factor.
The Pool Factor for the preceding Record
Date represents the ratio of the Invested
Amount as of such Record Date (adjusted
after taking into account any reduction
in the Invested Amount which will occur
on the following Distribution Date)
to the Initial Invested Amount. The
amount of a Certificateholder's pro
rata share of the Invested Amount can
be determined by multiplying the original
denomination of the holder's Certificate
by the Pool Factor.................................. 8.33 %
D. Receivables Balances.
1. The aggregate amount of Principal
Receivables in the Trust at the close
of business on the last day of the
preceding Due Period...............................$ 955,254,915
2. The aggregate amount of Finance Charge
Receivables in the Trust at the close of
business on the last day of the preceding
Due Period.........................................$ 13,193,335
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CITIBANK, N.A.,
as Paying Agent
By: /s/Susan Sexton
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Name:Susan Sexton
Title:Vice President
[4] Applicable during the Accumulation Period.
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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 hereunto duly authorized.
CITIBANK (SOUTH DAKOTA), N.A.,
as Servicer
National Credit Card Trust 1989-4
By: /s/ Eugene D. Rowenhorst
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Eugene D. Rowenhorst
Senior Vice President
Dated: November 18, 1996
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