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): September 10, 1997
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CITIBANK (SOUTH DAKOTA), N.A.
ON BEHALF OF
STANDARD CREDIT CARD TRUST 1990-6
(Issuer in respect of the Standard Credit Card Trust 1990-6
9-5/8% Class B Credit Card Participation Certificates)
(Exact name of registrant as specified in charter)
UNITED STATES OF AMERICA 33-35500
(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 a copy of the Class B Certificateholder's
Statement relating to the Distribution Date occurring on September 10, 1997
and the related Due Period delivered pursuant to Section 5.02 of the Pooling and
Servicing Agreement dated as of June 28, 1990 (the "Pooling Agreement") relating
to Standard Credit Card Trust 1990-6 among Citibank (South Dakota), N.A., as
Seller and Servicer, Citibank (Nevada), National Association, as Seller, and The
Chase Manhattan Bank (formerly known as Chemical Bank), 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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CLASS B CERTIFICATEHOLDER'S STATEMENT
CITIBANK (SOUTH DAKOTA), N.A.
CITIBANK (NEVADA), NATIONAL ASSOCIATION
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STANDARD CREDIT CARD TRUST 1990-6
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Under the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of June 28, 1990, by and among Citibank (South Dakota),
N.A., as Seller and Servicer, Citibank (Nevada), National Association, as
Seller and Chemical Bank as Trustee, the Servicer is required to prepare
certain information each month regarding current distributions to Class B
Certificateholders and the performance of the Standard Credit Card Trust 90-6
(the "Trust") during the previous month. The information which is required to
be prepared with respect to the distribution on September 10, 1997 Payment
Date (the "Payment 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 $1000 per Class B Certificate. Certain other information is
presented 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 Class B
Certificateholders (Stated on the Basis of $1,000
Current Invested Amount).
1. The total amount of the distribution to Class B
Certificateholders on the Payment Date, per $1,000
interest...........................................$ 1,016.042
2. The amount of the distribution set forth in paragraph
1 above in respect of principal on the Class B Certi-
ficates, per $1,000 interest.......................$ 1,000.000
3. The amount of the distribution set forth in paragraph
1 above in respect of interest on the Class B Certi-
ficates, per $1,000 interest.......................$ 16.042
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 Payment Date...........................$ 1,606,238,708
(b) The aggregate amount of Collections of Receivables
in respect of Finance Charge Receivables processed
during the Due Period(s) with respect to the
Payment Date..................................$ 170,980,866 [1]
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(c) The aggregate amount of Collections of Receivables
in respect of Principal Receivables processed during
the Due Period(s) with respect to the Payment
Date..........................................$ 1,435,257,842 [2]
2. Allocation of Receivables.
(a) The Class B Floating Allocation Percentage for
the Due Period(s) with respect to the Payment
Date..........................................
First Due Period...... 8.45
Second Due Period..... 8.56
Third Due Period...... 8.64
Fourth Due Period..... 8.67
Fifth Due Period...... 8.71
Sxth Due Period....... 8.73
(b) The Fixed Allocation Percentage............... 8.2516% [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 or, under certain
circumstances, will be used to fund certain payments with respect to the
Class A Certificates.
[3] Applicable during the Accumulation Period and any Early Amortization
Period.
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3. 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 the Payment Date,
after giving effect to any drawings on the
L/C and payments to the L/C Issuer on such
Payment Date..................................$ 84,300,000
(b) The ratio of the Available L/C Amount to
the Class B Invested Amount as of the
close of business on the Payment Date
after giving effect to any drawings
on the L/C and payments to the L/C Issuer
on such Payment Date.......................... N/A
4. 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 Payment Date..............................$ 32,776,292
(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 Payment Date..............................$ 51,279,407
5. Class B Investor Default Amount.
The Class B Investor Default Amount for the
Distribution Date(s) with respect to the Payment
Date...............................................$ 730,068
6. Class B Investor Charge-Offs; Reimbursement of Charge-Offs.
(a) The aggregate of the Class B Investor Charge-
Offs and other reductions in the Class B
Invested Amount (other than due to the payment
of principal to the Class B Certificateholders),
if any, for the Distribution Date(s) with respect
to the Payment Date...........................$ 0
(b) The amount of the Class B Investor Charge-
Offs and other reductions in the Class B
Invested Amount set forth in Item 6(a)
above, per $1,000 interest (which will
have the effect of reducing, pro rata,
the amount of each Class B Certificate-
holder's investment)..........................$ 0
(c) The total amount reimbursed to the Trust
for such Distribution Date(s) in respect of
Class B Investor Charge-Offs and other
reductions in Class B Invested Amount.........$ 0
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(d) The amount set forth in Item 6(c) above,
per $1,000 interest, which will have the
effect of reinstating, pro rata, the amount
of each Class B Certificateholder's
investment....................................$ 0
(e) The amount, if any, by which the out-
standing principal balance of the
Class B Investor Certificates exceeds
the Class B Invested Amount as of the
end of the day on such Payment Date...........$ 0
7. Servicing Fee.
The aggregate amount of the Class B Monthly
Servicing Fee paid or payable by the Trust
to the Servicer for the Distribution Date(s)
with respect to the Payment Date...................$ 1,831,113
8. The existing Deficit Controlled Amortization
Amount for such Payment Date.......................$ 0
C. The Class B Pool Factor.
The Class B Pool Factor for the preceding
Record Date (which represents the ratio of
the Class B Invested Amount as of such Record
Date (adjusted after taking into account any
increases or decreases in the Class B Invested
Amount which will occur on the following
Distribution Date) to the Class B 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 Class B Certificate by the Pool Factor..... 0.00%
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...............$ 1,779,757,372
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.........................................$ 26,321,698
CITIBANK, SOUTH DAKOTA
as Servicer
By: /s/ Joseph Mecca
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Name: Joseph Mecca
Title:Servicing Officer
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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
Standard Credit Card Trust 1990-6
By: /s/ Eugene D. Rowenhorst
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Eugene D. Rowenhorst
Senior Vice President
Dated: September 16, 1997
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