<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: June 16, 1999
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
----------------------------------------------------------
(Originator of the Trust referred to herein)
(Exact name of the registrant as specified in its charter)
CHASE MANHATTAN AUTO OWNER TRUST 1997-B
---------------------------------------
(Issuer with respect to Certificates)
Delaware 333-7575 13-2633612
- ---------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
----------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5033
================================================================================
<PAGE>
Item 5. Other Events:
On 3/15/99, Chase Manhattan Auto Owner Trust 1997-B (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of June 1, 1997, (the "Sale and Servicing Agreement"),
between the Registrant, as Seller and Servicer, and the Trust, as Issuer.
On 4/15/99, Chase Manhattan Auto Owner Trust 1997-B (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of June 1, 1997, (the "Sale and Servicing Agreement"),
between the Registrant, as Seller and Servicer, and the Trust, as Issuer.
On 5/17/99, Chase Manhattan Auto Owner Trust 1997-B (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of June 1, 1997, (the "Sale and Servicing Agreement"),
between the Registrant, as Seller and Servicer, and the Trust, as Issuer.
A copy of the Certificateholder Reports for such Distribution Dates
delivered pursuant to section 5.8 of the Sale and Servicing Agreement are being
filed as Exhibits 20.1, 20.2. and 20.3 to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
-------- ---------------
20.1 Monthly Certificateholder's statement with respect to
the March 15, 1999 distribution.
20.2 Monthly Certificateholder's statement with respect to
the April 15, 1999 distribution.
20.3 Monthly Certificateholder's statement with respect to
the May 17, 1999 distribution.
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
- ----------- -----------
20.1 Certificateholder Reports dated 3/15/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing
Agreement dated as of June 1, 1997.
20.2 Certificateholder Reports dated 4/15/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing
Agreement dated as of June 1, 1997.
20.3 Certificateholder Reports dated 5/17/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing
Agreement dated as of June 1, 1997.
<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: June 23, 1999
By: THE CHASE MANHATTAN BANK,
USA, NATIONAL ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
-------------------------------
Name: Patricia Garvey
Title: Vice President
<PAGE>
Exhibit 20.1
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
PERIOD 21 PAGE # 1
DETERMINATION: 10-Mar-99 Beginning 2/1/99
DISTRIBUTION: 15-Mar-99 Ending 2/28/99
TIME: 4/13/99 11:43
CLASS A-1 5.744% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 6.100% ASSET BACKED NOTES
CLASS A-3 6.350% ASSET BACKED NOTES
CLASS A-4 6.500% ASSET BACKED NOTES
CLASS A-5 6.600% ASSET BACKED NOTES
CLASS B-1 6.750% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $200,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2 Notes $294,000,000.00 $1,177,523.75 $1,177,523.75 $5,985.75 $1,183,509.50 $0.00
A-3 Notes $227,000,000.00 $227,000,000.00 $18,903,511.82 $1,201,208.33 $20,104,720.15 $208,096,488.18
A-4 Notes $133,000,000.00 $133,000,000.00 $0.00 $720,416.67 $720,416.67 $133,000,000.00
A-5 Notes $70,000,000.00 $70,000,000.00 $0.00 $385,000.00 $385,000.00 $70,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
NOTE TOTALS $924,000,000.00 $431,177,523.75 $20,081,035.57 $2,312,610.75 $22,393,646.32 $411,096,488.18
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
B-1 $29,148,275.79 $29,148,275.79 $0.00 $163,959.05 $163,959.05 $29,148,275.79
- ------------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE TOTALS $29,148,275.79 $29,148,275.79 $0.00 $163,959.05 $163,959.05 $29,148,275.79
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS $953,148,275.79 $460,325,799.54 $38,984,547.39 $2,476,569.80 $22,557,605.37 $440,244,763.97
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000
------------------------------------------------------
A-2 4.00518282 0.02035969 0.00000000
------------------------------------------------------
A-3 83.27538247 5.29166665 916.72461753
------------------------------------------------------
A-4 0.00000000 5.41666669 1,000.00000000
------------------------------------------------------
A-5 0.00000000 5.50000000 1,000.00000000
- --------------------------------------------------------------------------------
Notes Totals 21.73272248 2.50282549 444.90961924
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
B-1 0.00000000 5.62499995 1,000.00000000
- --------------------------------------------------------------------------------
Certificate Totals 0.00000000 5.62499995 1,000.00000000
- --------------------------------------------------------------------------------
TOTALS 40.90082139 2.59830486 461.88486634
- --------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
- --------------------------------------------------------------------------------
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
PERIOD 21 PAGE # 2
DETERMINATION: 10-Mar-99 Beginning 2/1/99
DISTRIBUTION: 15-Mar-99 Ending 2/28/99
TIME: 4/13/99 11:63
<TABLE>
<S> <C> <C> <C>
Section 5.8 (iii) Servicing Fee $383,604.83 0.40246081
Section 5.8 (iv) Administration Fee $1,000.00 0.00104915
Section 5.8 (vi) Pool Balance at the end of the Collection Period $440,244,763.97
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $102,157.48
TOTAL $102,157.48
Section 5.8 (viii) Realized Net Losses for Collection Period $338,209.02
Section 5.8 (ix) Reserve Account Balance after Disbursement $13,207,342.92
Section 5.8 (x) Specified Reserve Account Balance $13,207,342.92
Section 5.8 (xi) Total Distribution Amount $23,207,052.58
Servicing Fee $383,604.83
Administrative Fee $1,000.00
Noteholders' Distribution Amount $22,393,646.32
Certificateholders' Distribution Amount $163,959.05
Deposit to Reserve Account $264,842.38
</TABLE>
Section 5.8 (xii) Noteholders' Distributable Amount
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-2 $1,177,523.75 $5,985.75 $1,183,509.50 4.00518282 0.02035969 4.02554252
A-3 $18,903,511.82 $1,201,208.33 $20,104,720.15 83.27538247 5.29166665 88.56704912
A-4 $0.00 $720,416.67 $720,416.67 0.00000000 5.41666669 5.41666669
A-5 $0.00 $385,000.00 $385,000.00 0.00000000 5.50000000 5.50000000
------------------------------------------------------------------------------------------------------------------------
Total $20,081,035.57 $2,312,610.75 $22,393,646.32 21.73272248 2.50282549 24.23554797
------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiii) Certificateholders' Distributable Amount
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $0.00 $163,959.05 $163,959.05 0.00000000 5.62499995 5.62499995
------------------------------------------------------------------------------------------------------------------------
Total $0.00 $163,959.05 $163,959.05 0.00000000 5.62499995 5.62499995
------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Fund Transfer Amount $ 264,842.38
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE>
Exhibit 20.2
Chase Manhattan Auto Owner Trust 1997-B
Statement to Certificateholders
April 15, 1999
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS
ORIGINAL PRIOR REALIZEDDEFERRED CURRENT
FACE PRINCIPAL PRINCIPAL
CLASS VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 200,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A2 294,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A3 227,000,000.00 208,096,488.18 1,101,177.25 24,118,438.81 25,219,616.06 0.00 0.00 183,978,049.37
A4 133,000,000.00 133,000,000.00 720,416.67 0.00 720,416.67 0.00 0.00 133,000,000.00
A5 70,000,000.00 70,000,000.00 385,000.00 0.00 385,000.00 0.00 0.00 70,000,000.00
B1 29,148,275.79 29,148,275.79 163,959.05 0.00 163,959.05 0.00 0.00 29,148,275.79
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 953,148,275.79 440,244,763.97 2,370,552.97 24,118,438.81 26,488,991.78 0.00 0.00 416,126,325.16
<CAPTION>
PASS-THROUGH
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS-THRU
CLASS FACTOR INTEREST PRINCIPAL TOTAL FACTOR RATE
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A1 0.0000000 0.000000 0.000000 0.000000 0.0000000 A1 5.744000%
A2 0.0000000 0.000000 0.000000 0.000000 0.0000000 A2 6.100000%
A3 916.7246175 4.851001 106.248629 111.099630 810.4759884 A3 6.350000%
A4 1,000.0000000 5.416667 0.000000 5.416667 1,000.0000000 A4 6.500000%
A5 1,000.0000000 5.500000 0.000000 5.500000 1,000.0000000 A5 6.600000%
B1 1,000.0000000 5.625000 0.000000 5.625000 1,000.0000000 B1 6.750000%
- -----------------------------------------------------------------------------------------------------------
TOTALS 461.8848663 2.487077 25.303974 27.791050 436.5808927
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
Kimberly Costa
The Chase Manhattan Bank - Structured Finance Services
450 W. 33rd Street, 14th Floor,
New York, New York 10001
Tel: (212) 946-3247
Email: [email protected]
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 1
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<S> <C> <C>
Due Period Beginning Date 03/01/99
Due Period End Date 03/31/99
Determination Date 04/09/99
Section 5.8(iii) Servicing Fee 366,870.64
Section 5.8(iii) Servicing Fee per $1000 0.384904
Section 5.8(iv) Administration Fee 1,000.00
Section 5.8(iv) Administration Fee per $1000 0.001049
Section 5.8(vi) Pool Balance at the end of the Collection Period 416,126,325.16
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 116,867.30
TOTAL 116,867.30
Section 5.8(viii) Realized Net Losses for Collection Period 383,241.60
Section 5.8(ix) Reserve Account Balance after Disbursement 12,483,789.75
Section 5.8(x) Specified Reserve Account Balance 12,483,789.75
Section 5.8(xi) Total Distribution Amount 27,377,298.90
Servicing Fee 366,870.64
Administration Fee 1,000.00
Noteholders Distribution Amount 26,325,032.73
Certficateholders Distribution Amount 163,959.05
Deposit to Reserve Account 520,436.49
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 2
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
I. Available Amount in the Collection Account
A. Credits
1. Payments from Obligors Applied to Collection Period
a. Principal Payments 23,552,234.83
b. Other Interest Payments 3,630,871.41
c. Total 27,183,106.24
2. Proceeds from Repurchased Receivables
a. Principal Before Cutoff Date 0.00
b. Interest Before Cutoff Date 0.00
c. Principal Payments 112,555.71
d. Recovery of Advance 3,448.98
e. Other Interest Payments 862.61
f. Total 116,867.30
3. Reversal from Defaulted Contracts 0.00
4. Recovery of Defaulted Receivables 77,325.36
5. Advance Recoveries Before Cutoff Date
a. Principal 3,901.24
b. Interest 0.00
c. Total 3,901.24
6. Net Adjustments 0.00
7. Reserve Fund Transfer Amount 0.00
8. Overpayment From Obligors 0.00
9. Total Credits 27,381,200.14
B. Debits
1. Overpayments From Obligors 0.00
2. Advance Recovery Amount Before Cutoff Data to Seller
a. Principal 3,901.24
b. Interest 0.00
c. Total 3,901.24
3. Reversal of Defaulted Contracts 0.00
4. Total Debits 3,901.24
C. Total Available Amount (Lines A-B) 27,377,298.90
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 3
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
II. Liquidation Proceeds on Defaulted Receivables for the Collection Period
A. Principal 453,648.27
B. Interest 20,851.93
C. Total 474,500.20
III. Disbursements from Collection Account
A. Available Distribution Amount
1. Available Distribution Amount 27,377,298.90
2. Reserve Account Transfer Amount 0.00
3. Total Distribution Amount 27,377,298.90
B. Monthly Servicing Fee 366,870.64
C. Monthly Administration Fee 1,000.00
D. Noteholders Interest Distributable Amount 2,206,593.92
E. Certificateholders Interest Distributable Amount 163,959.05
F. Noteholders Principal Distributable Amount 24,118,438.81
G. Certificateholders Principal Distributable Amount 0.00
H. Deposit to Reserve Account 520,436.49
IV. Monthly Disbursements
A. Pool Servicing Fee
a. Monthly Servicing Fee 366,870.64
b. Unpaid Monthly Servicing Fee 0.00
c. Total 366,870.64
B. Administrative Fee
a. Monthly Administration Fee 1,000.00
b. Unpaid Monthly Administration Fee 0.00
c. Total 1,000.00
C. Noteholders' Interest Distributable Amount
Class A-1 Monthly Interest 0.00
Class A-1 Carryover Shortfall 0.00
Class A-1 Total 0.00
Class A-2 Monthly Interest 0.00
Class A-2 Carryover Shortfall 0.00
Class A-2 Total 0.00
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 4
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
Class A-3 Monthly Interest 1,101,177.25
Class A-3 Carryover Shortfall 0.00
Class A-3 Total 1,101,177.25
Class A-4 Monthly Interest 720,416.67
Class A-4 Carryover Shortfall 0.00
Class A-4 Total 720,416.67
Class A-5 Monthly Interest 385,000.00
Class A-5 Carryover Shortfall 0.00
Class A-5 Total 385,000.00
Total for Notes Monthly Interest 2,206,593.92
Total for Notes Carryover Shortfall 0.00
Total for Notes Total 2,206,593.92
D. Certificateholders' Interest Distributable Amount
Class B-1 Monthly Interest 163,959.05
Class B-1 Carryover Shortfall 0.00
Class B-1 Total 163,959.05
Total for Certificates Monthly Interest 163,959.05
Total for Certificates Carryover Shortfall 0.00
Total for Certificates Total 163,959.05
Class A-1 Monthly Principal 0.00
Class A-1 Carryover Shortfall 0.00
Class A-1 Total 0.00
Class A-2 Monthly Principal 0.00
Class A-2 Carryover Shortfall 0.00
Class A-2 Total 0.00
Class A-3 Monthly Principal 24,118,438.81
Class A-3 Carryover Shortfall 0.00
Class A-3 Total 24,118,438.81
Class A-4 Monthly Principal 0.00
Class A-4 Carryover Shortfall 0.00
Class A-4 Total 0.00
Class A-5 Monthly Principal 0.00
Class A-5 Carryover Shortfall 0.00
Class A-5 Total 0.00
Total for Notes Monthly Principal 24,118,438.81
Total for Notes Carryover Shortfall 0.00
Total for Notes Total 24,118,438.81
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 5
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
F. Certificateholders' Principal Distributable Amount
Class B-1 Monthly Principal 0.00
Class B-1 Carryover Shortfall 0.00
Class B-1 Total 0.00
Total for Certificates Monthly Principal 0.00
Total for Certificates Carryover Shortfall 0.00
Total for Certificates Total 0.00
G. Total Disbursements 26,856,862.41
V. Payment Deficiency Amount
A. Scheduled Monthly Disbursements 26,856,862.41
B. Available Distribution Amount 27,377,298.90
C. Payment Deficiency Amount 0.00
VI. Reserve Account Transfer Amount
A. Available Reserve Amount 13,207,342.92
B. Payment Deficiency Amount 0.00
C. Withdrawal for Write-Off 0.00
D. Reserve Account Withdrawal (MIN: Lines A and (B+C)) 0.00
VII. Pool Balance Reduction Allocation for Collection Period
A. Beginning Pool Balance 440,244,763.97
B. Pool Balance Reduction
1. Available Principal
a. Principal Payments 23,552,234.83
b. From Repurchased Receivables 112,555.71
c. Total 23,664,790.54
2. From Defaulted Receivables 453,648.27
3. Total Pool Balance Reduction 24,118,438.81
C. Ending Pool Balance 416,126,325.16
2. Monthly Principal Allocation
a. Notes 24,118,438.81
b. Certificates 0.00
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 6
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
VIII. Delinquency and Defaults
Group 1
Delinquency Principal
Period Number Amount Balance
------------ ------- ------------ -------------
30-59 days 738 494,799.65 8,179,250.45
60-89 days 171 180,350.48 2,006,586.06
90-119 days 54 77,128.91 661,362.62
120+149 days 43 82,806.04 600,667.51
150+179 days 33 74,422.15 376,624.12
180+209 days 16 34,376.53 171,549.37
210+239 days 3 8,688.89 28,924.21
240+Days
Delinquent 0 0.00 0.00
Total 1058 952,572.65 12,024,964.34
<TABLE>
<S> <C> <C>
B. Principal amount of loans in defaulted receivables 453,648.27
C. Delinquency Percentage
1. Outstanding principal balance for delinquency >= 60 days 3,845,713.89
2. Pool Principal Ending Balance 416,126,325.16
3. Delinquency Percentage 0.924170%
IX. Pool Delinquency Percentages
A. Delinquency Percentage for 2nd previous period 1.147295%
B. Delinquency Percentage for previous period 1.133310%
C. Delinquency Percentage for current period 0.924170%
D. Average Deliquency Percentage 1.068258%
X. Portfolio Loss Ratios
A. Net Loss Ratio for 2nd previous period 0.729321%
B. Net Loss Ratio for previous period 0.901319%
1. Principal Balance of Defaulted Receivables 453,648.27
2. Principal Recoveries on Defaulted Receivables 70,406.67
3. Average Pool Balance for Collection Period 428,185,544.57
4. Net Loss Ratio for Current Period (12*(1-2)/3) 1.074044%
D. Average Net Loss Ratio ((A+B+C)/3) 0.901561%
XI. Specified Reserve Account Balance
A. Calculation for Reserve Account Floor Amount
1. Guaranteed Floor Amount 7,148,612.07
2. Possible Floor Amount
a. Principal Balance at the Beginning of Next Collection Period 416,126,325.16
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 7
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
b. Cumulative Monthly Interest through Final Distribution Data
Class A-1 Balance 0.00
Class A-1 Interest Rate 5.74
Class A-1 Service Rate 0.01
Class A-1 Term 0.00
Class A-1 Interest 0.00
Class A-1 Service Fee 0.00
Class A-1 Total 0.00
Class A-2 Balance 0.00
Class A-2 Interest Rate 6.10
Class A-2 Service Rate 0.01
Class A-2 Term 9.00
Class A-2 Interest 0.00
Class A-2 Service Fee 0.00
Class A-2 Total 0.00
Class A-3 Balance 183,978,049.37
Class A-3 Interest Rate 6.35
Class A-3 Service Rate 0.01
Class A-3 Term 22.00
Class A-3 Interest 21,418,111.25
Class A-3 Service Fee 3,372,930.91
Class A-3 Total 24,791,042.15
Class A-4 Balance 133,000,000.00
Class A-4 Interest Rate 6.50
Class A-4 Service Rate 0.01
Class A-4 Term 30.00
Class A-4 Interest 21,612,500.00
Class A-4 Service Fee 3,325,000.00
Class A-4 Total 24,937,500.00
Class A-5 Balance 70,000,000.00
Class A-5 Interest Rate 6.60
Class A-5 Service Rate 0.01
Class A-5 Term 35.00
Class A-5 Interest 13,475,000.00
Class A-5 Service Fee 2,041,666.67
Class A-5 Total 15,516,666.67
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 8
<PAGE>
Chase Manhattan Auto Owner Trust 1997-B
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
Class B-1 Balance 29,148,275.79
Class B-1 Interest Rate 6.75
Class B-1 Service Rate 0.01
Class B-1 Term 57.00
Class B-1 Interest 9,345,665.93
Class B-1 Service Fee 1,384,543.10
Class B-1 Total 10,730,209.03
c. Possible Floor Amount equals Pool Balance + Interest + Service Fee 492,101,743.00
(Lines a+b)
3. Reserve Account Floor (Minimum Lines 1 and 2) 7,477,041.34
B. Possible Reserve Account Amount
1. Reserve Account Trigger Percentages
a. Average Delinquency Percentage 1.068258%
b. Average Delinquency Percentage Trigger 1.250000%
c. Average Loss Ratio 0.901561%
d. Average Loss Ratio Trigger 1.250000%
e. Maximum Reserve Account Percentage Specified 6.000000%
f. Minimum Reserve Account Percentage specified 3.000000%
g. Reserve Account Percentage Applied 3.000000%
2. Pool Principal Balance 416,126,325.16
3. Possible Reserve Account Amount 12,483,789.75
C. Specified Reserve Account Balance (Max: Lines A and B) 12,483,789.75
XII. Reserve Account
A. Reserve Account Balance After Disbursement from Previous Period
1. Reserve Account Balance After Disbursement from Previous Period 13,207,342.92
2. Reserve Account Transfer Amount 0.00
3. Investment Earnings 55,235.55
4. Deposit to Reserve Account After Disbursement 520,436.49
5. Amount After Deposit 13,783,014.96
B. Specified Reserve Account Balance 12,483,789.75
C. Available Reserve Account Amount (Min: Lines A and B) 12,483,789.75
D. Excess Amount to Seller 1,299,225.20
XIII. Weighted Average Coupon as of Current Period 9.534758
XIV. Weighted Average Maturity as of Current Period 34.349224
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 9
<PAGE>
Exhibit 20.3
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
PERIOD 23 PAGE # 1
DETERMINATION: 10-May-99 Beginning 4/1/99
DISTRIBUTION: 17-May-99 Ending 4/30/99
TIME: 6/8/99 18:36
CLASS A-1 5.744% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 6.100% ASSET BACKED NOTES
CLASS A-3 6.350% ASSET BACKED NOTES
CLASS A-4 6.500% ASSET BACKED NOTES
CLASS A-5 6.600% ASSET BACKED NOTES
CLASS B-1 6.750% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $200,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2 Notes $294,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-3 Notes $227,000,000.00 $183,978,049.37 $21,735,381.64 $973,550.51 $22,708,932.15 $162,242,667.73
A-4 Notes $133,000,000.00 $133,000,000.00 $0.00 $720,416.67 $720,416.67 $133,000,000.00
A-5 Notes $70,000,000.00 $70,000,000.00 $0.00 $385,000.00 $385,000.00 $70,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
NOTE TOTALS $924,000,000.00 $386,978,049.37 $21,735,381.64 $2,078,967.18 $23,814,348.82 $365,242,667.73
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
B-1 $29,148,275.79 $29,148,275.79 $0.00 $163,959.05 $163,959.05 $29,148,275.79
- ------------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE TOTALS $29,148,275.79 $29,148,275.79 $0.00 $163,959.05 $163,959.05 $29,148,275.79
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS $953,148,275.79 $416,126,325.16 $21,735,381.64 $2,242,926.23 $23,978,307.87 $394,390,943.52
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000
------------------------------------------------------
A-2 0.00000000 0.00000000 0.00000000
------------------------------------------------------
A-3 95.75057991 4.28876877 714.72540850
------------------------------------------------------
A-4 0.00000000 5.41666669 1,000.00000000
------------------------------------------------------
A-5 0.00000000 5.50000000 1,000.00000000
- --------------------------------------------------------------------------------
Notes Totals 23.52314030 2.24996448 395.28427244
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
B-1 0.00000000 5.62499995 1,000.00000000
- --------------------------------------------------------------------------------
Certificate Totals 0.00000000 5.62499995 1,000.00000000
- --------------------------------------------------------------------------------
TOTALS 22.80377796 2.35317661 413.77711479
- --------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
- --------------------------------------------------------------------------------
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1997-B
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
PERIOD 23 PAGE # 2
DETERMINATION: 10-May-99 Beginning 4/1/99
DISTRIBUTION: 17-May-99 Ending 4/30/99
TIME: 6/8/99 18:36
<TABLE>
<CAPTION>
per $1000
---------
<S> <C> <C> <C>
Section 5.8 (iii) Servicing Fee $346,771.94 0.36381741
Section 5.8 (iv) Administration Fee $1,000.00 0.00104915
Section 5.8 (vi) Pool Balance at the end of the Collection Period $394,390,943.52
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $123,901.80
TOTAL $123,901.80
Section 5.8 (viii) Realized Net Losses for Collection Period $259,805.64
Section 5.8 (ix) Reserve Account Balance after Disbursement $11,831,728.31
Section 5.8 (x) Specified Reserve Account Balance $11,831,728.31
Section 5.8 (xi) Total Distribution Amount $24,810,133.25
Servicing Fee $346,771.94
Administrative Fee $1,000.00
Noteholders' Distribution Amount $23,814,348.82
Certificateholders' Distribution Amount $163,959.05
Deposit to Reserve Account $484,053.44
Section 5.8 (xii) Noteholders' Distributable Amount
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-2 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-3 $21,735,381.64 $973,550.51 $22,708,932.15 95.75057991 4.28876877 100.03934868
A-4 $0.00 $720,416.67 $720,416.67 0.00000000 5.41666669 5.41666669
A-5 $0.00 $385,000.00 $385,000.00 0.00000000 5.50000000 5.50000000
-------------------------------------------------------------------------------------------------------------------
Total $21,735,381.64 $2,078,967.18 $23,814,348.82 23.52314030 2.24996448 25.77310478
-------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiii) Certificateholders' Distutable Amount
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $0.00 $163,959.05 $163,959.05 0.00000000 5.62499995 5.62499995
-----------------------------------------------------------------------------------------------------------------
Total $0.00 $163,959.05 $163,959.05 0.00000000 5.62499995 5.62499995
-----------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Fund Transfer Amount $484,053.44
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
