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 15, 1999
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CHASE MANHATTAN CREDIT CARD MASTER TRUST
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(Exact name of registrant as
specified in its charter)
CHASE MANHATTAN BANK USA, N.A. (formerly known as
"The Chase Manhattan Bank (USA)")
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(Sponsor of the Trust)
Delaware 33-40006 22-2382028
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5050
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<PAGE>
Item 5. Other Events:
On June 15, 1999, Chase Manhattan Credit Card Master Trust made the
distributions to Certificateholders contemplated by the Amended Pooling and
Servicing Agreement dated as of July 1, 1996, (the "Agreement"), between Chase
Manhattan Bank USA, N.A. and Yasuda Bank and Trust Company (U.S.A.) (the
"Trustee"), as supplemented by the Series Supplements for each of the Series
1996-1, Series 1996-2, Series 1996-3 and Series 1996-4 in accordance with the
Agreement.
Copies of the monthly Certificateholders' Statements for such distribution
delivered is being filed as Exhibits 20.1 to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
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20.1 Monthly Certificateholders' Statements with respect
to the June 15, 1999 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: June 30, 1999
Chase Manhattan Credit Card Master
Trust,
By: Chase Manhattan Bank USA, N.A.,
as Servicer
By: /s/ Patricia Garvey
-------------------------------
Name: Patricia Garvey
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
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Exhibit No. Description
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20.1 Monthly Certificateholders' Statements with respect to
the distribution to June 15, 1999 distribution to
Certificateholders for Series 1996-1, Series 1996-2,
Series 1996-3 and Series 1996-4
FORM OF MONTHLY CERTIFICATEHOLDERS STATEMENT
THE CHASE MANHATTAN BANK USA, N.A.
Chase Manhattan Credit Card Master Trust
Series 1996-1
For Distribution Date 06/15/99
For Monthly Period 40
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-1 Supplement dated as of February 1, 1996 (together,
the Agreement) by and between The Chase Manhattan Bank USA, N.A. (Chase) and
Yasuda Bank and Trust Company(U.S.A.), as trustee (the Trustee), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1996-1 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the Trust) and the Series 1996-1
Class A Certificates and Series 1996-1 Class B Certificates during the previous
month. The required information with respect to the 6/15/99 Distribution Date
and with respect to the performance of the Trust during the related month (the
May, 1999 Monthly Period) is set forth below. Certain of the information is
presented on the basis of an original principal amount of $1,000 per Series
1996-1 Investor Certificate (a Certificate). Certain other information is
presented based on the aggregate amounts for the Trust as a whole. Capitalized
terms used in this Certificate have their respective meanings set forth in the
Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A AND
CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-1
Certificateholders on 06/15/99 per $1,000 original
certificate principal amount
(1) Class A Certificateholders $84.342795
(2) Class B Certificateholders $4.142569
B) The amount of the distribution set forth in item I(A)
above in respect of principal of the 1996-1 Certificates,
per $1,000 original certificate principal amount
(1) Class A Certificateholders $83.333333
(2) Class B Certificateholders $0.000000
C) The amount of the distribution set forth in item I(A)
above in respect of interest on the 1996-1 Certificates, per
$1,000 original certificate principal amount
(1) Class A Certificateholders $1.009462
(2) Class B Certificateholders $4.142569
Chase Manhattan Credit Card Master Trust Series 1996-1
June 15, 1999
<PAGE>
II.INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with
respect to the preceding Monthly Period and allocated
to the Series 1996-1 Certificates $184,270,269.92
(2) The Payment Rate with respect to the preceding
Monthly Period was equal to 12.75%
The monthly payment rate for the 2nd preceding Monthly
Period, (the 39th Monthly Period), 12.45%
The monthly payment rate for the 3rd preceding Monthly
Period, (the 38th Monthly Period), 13.68%
(3)(a) The aggregate amount of Collections of Principal
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of
the Series 1996-1 Certificates $177,367,708.49
(b) The aggregate amount of Investor Defaults treated
as Available Principal Collections pursuant to sections
4.08 a.(iii), 4.10(b), (e), (1) $2,324,147.62
(4) The aggregate amount of Collections of Finance Charge
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of
the Series 1996-1 Certificates $6,902,561.43
B) Deficit Controlled Amortization Amount $0.00
C) Principal Receivables in the Trust and
Allocation Percentages
(1) The aggregate amount of Principal Receivables in
the Trust as of the end of the preceding Monthly Period
(which reflects the Principal Receivables represented
by the Seller Interest, by the Investor Interest of
Series 1996-1, and by the Investor Interest of all
other outstanding Series) $4,154,630,230.92
(2) The Investor Interest as of the last
day of the preceding Monthly Period
(a) Investor Interest $341,250,000.00
(b) Class A Investor Interest $213,750,000.00
(c) Class B Investor Interest $82,500,000.00
<PAGE>
(d) Collateral Interest $45,000,000.00
(3) The Investor Interest set forth in item
II (C)(2)(a) above as a percentage of the
aggregate amount of Principal Receivables
set forth in item II(C)(1) above 8.2137%
(4) The Class A Investor Interest set forth in
item II (C)(2)(b) above as a percentage of the
aggregate amount of Principal Receivables set
forth in item II (C)(1) above 5.1449%
(5) The Class B Investor Interest set forth in
item II(C)(2)(c) above as a percentage of the
aggregate amount of Principal Receivables set
forth in item II (C)(1) above 1.9857%
(6) The Collateral Interest set forth in item II
(C)(2)(d) above as a percentage of the aggregate
amount of Principal Receivables set forth in
item II (C)(1) above 1.0831%
(7) The Class A Floating Percentage 71.5481%
(8) The Class B Floating Percentage 18.4100%
(9) The Class B Principal Percentage 5.5000%
(10) The Collateral Floating Percentage 10.0418%
(11) The Collateral Principal Percentage 9.0000%
(12) The Floating Allocation Percentage 10.7132%
(13) The Principal Allocation Percentage 35.8601%
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the
preceding Monthly Period 18.48%
The annualized portfolio yield for the 2nd preceding
Monthly Period,(the 39th Monthly Period), 17.63%
The annualized portfolio yield for the 3rd preceding
Monthly Period, (the 38th Monthly Period), 19.99%
The three month average Portfolio Yield 18.70%
(2) Base Rate for the preceding Monthly Period 7.21%
The Base Rate for the 2nd preceding
Monthly Period, (the 39th Monthly Period), 7.23%
The Base Rate for the 3rd preceding
Monthly Period, (the 38th Monthly Period), 7.24%
<PAGE>
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts
which were delinquent as of the end of the last day of the
preceding Monthly Period:
(1) Up to 29 Days
Aggregate Account Balance $202,101,922.42
As a Percentage of Receivables 4.68%
(2) 30 - 59 Days
Aggregate Account Balance $55,109,002.60
As a Percentage of Receivables 1.28%
(3) 60 - 89 Days
Aggregate Account Balance $36,908,082.30
As a Percentage of Receivables 0.86%
(4) 90 or More Days
Aggregate Account Balance $80,769,467.51
As a Percentage of Receivables 1.87%
Total
Aggregate Account Balance $374,888,474.83
As a Percentage of Receivables 8.69%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect to
Billing Cycles ending during the preceding Monthly Period
allocable to the Investor Interest less Recoveries allocable
to the Investor Interest (the Series 1996-1 Aggregate
Investor Default Amount) $2,324,147.62
(2) The portion of the Series 1996-1 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the Class A Investor Default Amount) $1,662,883.87
(3) The portion of the Series 1996-1 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the Class B Investor Default Amount) $427,876.55
(4) The portion of the Series 1996-1 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the Collateral Investor Default Amount) $233,387.21
<PAGE>
(5) The annualized investor default percentage ((Series
1996-1 Aggregate Investor Default Amount/Investor Interest)
x 12) for the preceding Monthly Period 6.22%
The annualized investor default % for the 2nd
preceding Monthly Period, (the 39th Monthly Period), 5.83%
The annualized investor default % for the 3rd
preceding Monthly Period, (the 38th Monthly Period), 6.23%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor
Charge-Offs for the preceding Monthly Period $0.00
(2) The aggregate amount of Class A Investor
Charge Offs per $1,000 original Certificate
Principal Amount $0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding the
preceding Distribution Date $0.00
(4) The amount of the reimbursed Investor
Charge-Offs set forth in item II(G)(3)
above, per $1,000 original Class A
Certificate principal amount $0.00
(5) The aggregate amount of Class B Investor
Charge-Offs for the preceding Monthly Period $0.00
(6) The aggregate amount of Class B Investor
Charge-Offs per $1,000 original Certificate
Principal Amount $0.00
(7) The aggregate amount of Class B Investor
Charge-Offs reimbursed on the Transfer Date
immediately preceding the preceding Distribution
Date $0.00
(8) The amount of the reimbursed Investor
Charge-Offs set forth in item II(G)(7)
above, per $1,000 original Class B
Certificate principal amount $0.00
(9) The aggregate amount of Investor
Charge-Offs $0.00
(10) The aggregate amount of Investor
Charge-Offs per $1,000 Original Certificate
Principal Amount $0.00
(11) The aggregate amount of Investor
Charge-Offs reimbursed on the Transfer Date
Immediately preceding the Distribution Date $0.00
<PAGE>
(12) The amount of the reimbursed Investor
Charge-Offs set forth in item II(G)(11)
above, per $1,000 original Investor principal
amount $0.00
H) Shared Excess Finance Charge Collections
The aggregate amount of shared Excess Finance Charge
Collections during the preceding Monthly Period which were
allocated to the Series 1996-1 Certificates $0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal
Collections during the preceding Monthly
Period allocated to the Series 1996-1
Certificates $0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid to Class A Certificates to make up
deficiencies in Class A Required Amounts for any
Monthly Period $0.00
(2) Collections of Principal Receivables allocable to
the Collateral Interest paid to Class B Certificates
to make up deficiencies in Class B Required Amounts $0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $802,890.62
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust for the preceding Monthly Period $574,453.13
(3) The amount of the Class B Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $147,812.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $80,625.00
L) Collateral Interest
The Available Collateral Interest, as of the Transfer
Date for the preceding Monthly Period $45,000,000.00
M) Required Collateral Interest
<PAGE>
The Required Collateral Interest as of the Transfer
Date for the preceding Monthly Period $45,000,000.00
III.THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution
to be made on the Distribution Date (which represents the
ratio of the amount of the Investor Interest as of such
Record Date (determined after taking into account any
reduction in the Investor Interest which will occur on the
Distribution Date) to the Initial Investor Interest): 0.22750000
The amount of a Certificateholder(s) pro rata share of the
Investor Interest can be determined by multiplying the
original denomination of the Certificateholder(s)
Certificate by the Pool Factor.
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS STATEMENT
THE CHASE MANHATTAN BANK USA, N.A.
Chase Manhattan Credit Card Master Trust
Series 1996-2
For Distribution Date 06/15/99
For Monthly Period 37
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-2 Supplement dated as of February 1, 1996 (together,
the Agreement) by and between The Chase Manhattan Bank USA, N.A. (Chase) and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the Trustee), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1996-2 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the Trust) and the Series 1996-2
Class A Certificates and Series 1996-2 Class B Certificates during the previous
month. The required information with respect to the 6/15/99 Distribution Date
and with respect to the performance of the Trust during the related month (the
May, 1999 Monthly Period) is set forth below. Certain of the information is
presented on the basis of an original principal amount of $1,000 per Series
1996-2 Investor Certificate (a Certificate). Certain other information is
presented based on the aggregate amounts for the Trust as a whole. Capitalized
terms used in this Certificate have their respective meanings set forth in the
Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A AND
CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series
1996-2 Certificateholders on 06/15/99 per $1,000
original certificate principal amount
(1) Class A Certificateholders $85.379444
(2) Class B Certificateholders $4.156667
B) The amount of the distribution set forth in item
I(A) above in respect of principal of the 1996-2
Certificates, per $1,000 original certificate
principal amount
(1) Class A Certificateholders $83.333333
(2) Class B Certificateholders $0.000000
C) The amount of the distribution set forth in item
I(A) above in respect of interest on the 1996-2
Certificates, per $1,000 original certificate
principal amount
(1) Class A Certificateholders $2.046111
(2) Class B Certificateholders $4.156667
Chase Manhattan Credit Card Master Trust Series 1996-2
June 15, 1999
<PAGE>
II. INFORMATION REGARDING THE PERFORMANCE
OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with
respect to the preceding Monthly Period and allocated
to the Series 1996-2 Certificates $37,506,909.13
(2) The Payment Rate with respect to the preceding
Monthly Period was equal to 12.75%
The monthly payment rate for the 2nd preceding Monthly
Period, (the 36th Monthly Period), 12.45 %
The monthly payment rate for the 3rd preceding Monthly
Period, (the 35th Monthly Period), 13.68 %
(3)(a) The aggregate amount of Collections of Principal
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of
the Series 1996-2 Certificates $35,083,722.56
(b) The aggregate amount of Investor Defaults treated
as Available Principal Collections pursuant to sections
4.08 a.(iii), 4.10(b),(e),(l) $815,906.30
(4) The aggregate amount of Collections of Finance Charge
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of the
Series 1996-2 Certificates $2,423,186.57
B) Deficit Controlled Amortization Amount $0.00
C) Principal Receivables in the Trust and
Allocation Percentages
(1) The aggregate amount of Principal
Receivables in the Trust as of the
end of the preceding Monthly Period (which reflects the
Principal Receivables represented by the Seller
Interest, by the Investor Interest of Series 1996-2,
and by the Investor Interest of all other
outstanding Series) $4,154,630,230.92
(2) The Investor Interest as of the last
day of the preceding Monthly Period
(a) Investor Interest $134,086,172.18
(b) Class A Investor Interest $105,700,416.69
(c) Class B Investor Interest $16,318,000.00
(d) Collateral Interest $12,067,755.50
<PAGE>
(3) The Investor Interest set forth in item
II (C)(2)(a) above as a percentage of the
aggregate amount of Principal Receivables
set forth in item II(C)(1) above 3.2274%
(4) The Class A Investor Interest set forth in item
II (C)(2)(b) above as a percentage of the
aggregate amount of Principal Receivables set
forth in item II (C)(1) above 2.5442%
(5) The Class B Investor Interest set forth in
item II(C)(2)(c) above as a percentage of the
aggregate amount of Principal Receivables set
forth in item II (C)(1) above 0.3928%
(6) The Collateral Interest set forth in item
II (C)(2)(d) above as a percentage of the
aggregate amount of Principal Receivables
set forth in item II (C)(1) above 0.2905%
(7) The Class A Floating Percentage 80.6273%
(8) The Class B Floating Percentage 10.3727%
(9) The Class B Principal Percentage 5.4998%
(10) The Collateral Floating Percentage 9.0000%
(11) The Collateral Principal Percentage 9.0003%
(12) The Floating Allocation Percentage 3.7609%
(13) The Principal Allocation Percentage 7.0932%
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the
preceding Monthly Period 18.48%
The annualized portfolio yield for the 2nd preceding
Monthly Period, (the 36th Monthly Period), 17.63%
The annualized portfolio yield for the 3rd preceding
Monthly Period, (the 35th Monthly Period), 19.99%
The three month average Portfolio Yield 18.70%
(2) Base Rate for the preceding Monthly Period 7.26%
The Base Rate for the 2nd preceding
Monthly Period, (the 36th Monthly Period), 7.26%
The Base Rate for the 3rd preceding
Monthly Period, (the 35th Monthly Period), 7.26%
E) Delinquent Balances
<PAGE>
The aggregate amount of outstanding
balances in the Accounts which were
delinquent as of the end of the last day
of the preceding Monthly Period:
(1) Up to 29 Days
Aggregate Account Balance $202,101,922.42
As a Percentage of Receivables 4.68%
(2) 30 - 59 Days
Aggregate Account Balance $55,109,002.60
As a Percentage of Receivables 1.28%
(3) 60 - 89 Days
Aggregate Account Balance $36,908,082.30
As a Percentage of Receivables 0.86%
(4) 90 or More Days
Aggregate Account Balance $80,769,467.51
As a Percentage of Receivables 1.87%
Total
Aggregate Account Balance $374,888,474.83
As a Percentage of Receivables 8.69%
F) Investor Default Amount
(1) The aggregate amount of all defaulted
Principal Receivables written off as uncollectible
with respect to Billing Cycles ending during the
preceding Monthly Period allocable to the
Investor Interest less Recoveries allocable to the
Investor Interest (the Series 1996-2 Aggregate
Investor Default Amount) $815,906.30
(2) The portion of the Series 1996-2 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the Class A Investor Default Amount) $657,843.34
(3) The portion of the Series 1996-2 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the Class B Investor Default Amount) $84,631.39
(4) The portion of the Series 1996-2 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the Collateral Investor Default Amount) $73,431.57
<PAGE>
(5) The annualized investor default percentage ((Series
1996-2 Aggregate Investor Default Amount/Investor
Interest) x 12) for the preceding Monthly Period 6.22%
The annualized investor default % for the 2nd
preceding Monthly Period, (the 36th Monthly Period), 5.83%
The annualized investor default % for the 3rd
preceding Monthly Period, (the 35th Monthly Period), 6.23%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor
Charge-Offs for the preceding Monthly Period $0.00
(2) The aggregate amount of Class A Investor
Charge Offs per $1,000 original Certificate
Principal Amount $0.00
(3) The aggregate amount of Class A Investor
Charge-Offs reimbursed on the Transfer Date
immediately preceding the preceding Distribution Date $0.00
(4) The amount of the reimbursed Investor
Charge-Offs set forth in item II(G)(3)
above, per $1,000 original Class A
Certificate principal amount $0.00
(5) The aggregate amount of Class B Investor
Charge-Offs for the preceding Monthly Period $0.00
(6) The aggregate amount of Class B Investor
Charge-Offs per $1,000 original Certificate
Principal Amount $0.00
(7) The aggregate amount of Class B Investor
Charge-Offs reimbursed on the Transfer Date
immediately preceding the preceding Distribution
Date $0.00
(8) The amount of the reimbursed Investor
Charge-Offs set forth in item II(G)(7)
above, per $1,000 original Class B
Certificate principal amount $0.00
(9) The aggregate amount of Investor
Charge-Offs $0.00
(10) The aggregate amount of Investor
Charge-Offs per $1,000 Original Certificate
Principal Amount $0.00
(11) The aggregate amount of Investor
Charge-Offs reimbursed on the Transfer Date
Immediately preceding the Distribution Date $0.00
<PAGE>
(12) The amount of the reimbursed Investor
Charge-Offs set forth in item II(G)(11)
above, per $1,000 original Investor principal
amount $0.00
H) Shared Excess Finance Charge Collections
The aggregate amount of shared Excess Finance
Charge Collections during the preceding Monthly
Period which were allocated to the Series
1996-2 Certificates $0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal
Collections during the preceding Monthly
Period allocated to the Series 1996-2
Certificates $0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to
Class B Certificates paid to Class A Certificates to
make up deficiencies in Class A Required Amounts for
any Monthly Period $0.00
(2) Collections of Principal Receivables allocable to
the Collateral Interest paid to Class B Certificates
to make up deficiencies in Class B Required Amounts $0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $281,859.68
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust for the preceding Monthly Period $227,255.90
(3) The amount of the Class B Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $29,236.42
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $25,367.37
L) Collateral Interest
The Available Collateral Interest, as of the Transfer
Date for the preceding Monthly Period $12,067,755.50
M) Required Collateral Interest
The Required Collateral Interest as of the Transfer
Date for the preceding Monthly Period $12,067,755.50
<PAGE>
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the
distribution to be made on the Distribution Date
(which represents the ratio of the amount of the
Investor Interest as of such Record Date (determined
after taking into account any reduction in the
Investor Interest which will occur on the
Distribution Date) to the Initial Investor Interest): 0.45192006
The amount of a Certificateholder(s) pro rata share
of the Investor Interest can be determined
by multiplying the original denomination of the
Certificateholder(s) Certificate by the Pool Factor.
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS STATEMENT
THE CHASE MANHATTAN BANK USA, N.A.
Chase Manhattan Credit Card Master Trust
Series 1996-3
For Distribution Date 06/15/99
For Monthly Period 36
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-3 Supplement dated as of June 1, 1996 (together, the
Agreement) by and between The Chase Manhattan Bank USA, N.A. (Chase) and Yasuda
Bank and Trust Company(U.S.A.), as trustee (the Trustee), Chase, as Servicer, is
required to prepare certain information each month regarding current
distributions to Series 1996-3 Certificateholders and the performance of the
Chase Manhattan Credit Card Master Trust (the Trust)and the Series 1996-3 Class
A Certificates and Series 1996-3 Class B Certificates during the previous month.
The required information with respect to the 6/15/99 Distribution Date and with
respect to the performance of the Trust during the related month (the May, 1999
Monthly Period) is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-3 Investor
Certificate (a Certificate). Certain other information is presented based on the
aggregate amounts for the Trust as a whole. Capitalized terms used in this
Certificate have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A AND
CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-3
Certificateholders on 06/15/99 per $1,000 original
certificate principal amount
(1) Class A Certificateholders $5.866667
(2) Class B Certificateholders $6.008333
B) The amount of the distribution set forth in item I(A)
above in respect of principal of the 1996-3 Certificates,
per $1,000 original certificate principal amount
(1) Class A Certificateholders $0.000000
(2) Class B Certificateholders $0.000000
C) The amount of the distribution set forth in item I(A)
above in respect of interest on the 1996-3 Certificates,
per $1,000 original certificate principal amount
(1) Class A Certificateholders $5.866667
(2) Class B Certificateholders $6.008333
Chase Manhattan Credit Card Master Trust Series 1996-3
June 15, 1999
<PAGE>
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with
respect to the preceding Monthly Period and allocated to
the Series 1996-3 Certificates $142,939,548.73
(2) The Payment Rate with respect to the preceding
Monthly Period was equal to 12.75%
The monthly payment rate for the 2nd preceding Monthly
Period, (the 35th Monthly Period), 12.45%
The monthly payment rate for the 3rd preceding Monthly
Period, (the 34th Monthly Period), 13.68%
(3)(a) The aggregate amount of Collections of Principal
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of the
Series 1996-3 Certificates $126,465,515.76
(b) The aggregate amount of Investor Defaults treated as
Available Principal Collections pursuant to sections
4.08 a.(iii), 4.10(b),(e),(l) $5,546,938.62
(4) The aggregate amount of Collections of Finance
Charge Receivables processed with respect to the
preceding Monthly Period which were allocated in respect
of the Series 1996-3 Certificates $16,474,032.96
B) Deficit Controlled Amortization Amount $0.00
C) Principal Receivables in the Trust and Allocation
Percentages
(1) The aggregate amount of Principal Receivables in the
Trust as of the end of the preceding Monthly Period
(which reflects the Principal Receivables represented by
the Seller Interest, by the Investor Interest of Series
1996-3, and by the Investor Interest of all other
outstanding Series) $4,154,630,230.92
(2) The Investor Interest as of the last day of the
preceding Monthly Period
(a) Investor Interest $1,069,519,786.10
(b) Class A Investor Interest $957,220,000.00
(c) Class B Investor Interest $42,780,000.00
(d) Collateral Interest $69,519,786.10
<PAGE>
(3) The Investor Interest set forth in item II(C)(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in item II(C)(1) above 25.7428%
(4) The Class A Investor Interest set forth in item II
(C)(2)(b) above as a percentage of the aggregate amount
of Principal Receivables set forth in item II (C)(1)
above 23.0398%
(5) The Class B Investor Interest set forth in item
II(C)(2)(c) above as a percentage of the aggregate
amount of Principal Receivables set forth in item II
(C)(1) above 1.0297%
(6) The Collateral Interest set forth in item II
(C)(2)(d) above as a percentage of the aggregate amount
of Principal Receivables set forth in item II (C)(1)
above 1.6733%
(7) The Class A Floating Percentage 89.5000%
(8) The Class B Floating Percentage 3.9999%
(9) The Class B Principal Percentage 3.9999%
(10) The Collateral Floating Percentage 6.5001%
(11) The Collateral Principal Percentage 6.5001%
(12) The Floating Allocation Percentage 25.5687%
(13) The Principal Allocation Percentage 25.5687%
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding
Monthly Period 18.48%
The annualized portfolio yield for the 2nd preceding
Monthly Period,(the 35th Monthly Period), 17.63%
The annualized portfolio yield for the 3rd preceding
Monthly Period, (the 34th Monthly Period), 19.99%
The three month average Portfolio Yield 18.70%
(2) Base Rate for the preceding Monthly Period 9.09%
The Base Rate for the 2nd preceding Monthly Period,
(the 35th Monthly Period), 9.09%
The Base Rate for the 3rd preceding Monthly Period,
(the 34th Monthly Period), 9.09%
E) Delinquent Balances
<PAGE>
The aggregate amount of outstanding balances in the
Accounts which were delinquent as of the end of the last
day of the preceding Monthly Period:
(1) Up to 29 Days
Aggregate Account Balance $202,101,922.42
As a Percentage of Receivables 4.68%
(2) 30 - 59 Days
Aggregate Account Balance $55,109,002.60
As a Percentage of Receivables 1.28%
(3) 60 - 89 Days
Aggregate Account Balance $36,908,082.30
As a Percentage of Receivables 0.86%
(4) 90 or More Days
Aggregate Account Balance $80,769,467.51
As a Percentage of Receivables 1.87%
Total
Aggregate Account Balance $374,888,474.83
As a Percentage of Receivables 8.69%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect to
Billing Cycles ending during the preceding Monthly Period
allocable to the Investor Interest less Recoveries
allocable to the Investor Interest (the Series 1996-3
Aggregate Investor Default Amount) $5,546,938.62
(2) The portion of the Series 1996-3 Aggregate Investor
Default Amount allocable to the Class A Investor Interest
(the Class A Investor Default Amount) $4,964,508.99
(3) The portion of the Series 1996-3 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the Class B Investor Default Amount) $221,873.44
(4) The portion of the Series 1996-3 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the Collateral Investor Default Amount) $360,556.20
<PAGE>
(5) The annualized investor default percentage ((Series
1996-3 Aggregate Investor Default Amount/Investor
Interest) x 12) for the preceding Monthly Period 6.22%
The annualized investor default % for the 2nd preceding
Monthly Period, (the 35th Monthly Period), 5.83%
The annualized investor default % for the 3rd preceding
Monthly Period, (the 34th Monthly Period), 6.23%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period $0.00
(2) The aggregate amount of Class A Investor Charge Offs
per $1,000 original Certificate Principal Amount $0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding the
preceding Distribution Date $0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in item II(G)(3) above, per $1,000 original Class A
Certificate principal amount $0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for the preceding Monthly Period $0.00
(6) The aggregate amount of Class B Investor Charge-Offs
per $1,000 original Certificate Principal Amount $0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding the
preceding Distribution Date $0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in item II(G)(7) above, per $1,000 original Class B
Certificate principal amount $0.00
(9) The aggregate amount of Investor Charge-Offs $0.00
(10) The aggregate amount of Investor Charge-Offs per
$1,000 Original Certificate Principal Amount $0.00
(11) The aggregate amount of Investor Charge-Offs
reimbursed on the Transfer Date Immediately preceding the
Distribution Date $0.00
<PAGE>
(12) The amount of the reimbursed Investor Charge-Offs
set forth in item II(G)(11) above, per $1,000 original
Investor principal amount $0.00
H) Shared Excess Finance Charge Collections
The aggregate amount of shared Excess Finance Charge
Collections during the preceding Monthly Period which
were allocated to the Series 1996-3 Certificates $0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections
during the preceding Monthly Period allocated to the
Series 1996-3 Certificates $0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to
Class B Certificates paid to Class A Certificates to
make up deficiencies in Class A Required Amounts for any
Monthly Period $0.00
(2) Collections of Principal Receivables allocable to
the Collateral Interest paid to Class B Certificates
to make up deficiencies in Class B Required Amounts $0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $1,916,222.95
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust for the preceding Monthly Period $1,715,019.17
(3) The amount of the Class B Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $76,647.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $124,556.28
L) Collateral Interest
The Available Collateral Interest, as of the Transfer
Date for the preceding Monthly Period $69,519,786.10
M) Required Collateral Interest
The Required Collateral Interest as of the Transfer
Date for the preceding Monthly Period $69,519,786.10
<PAGE>
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the
distribution to be made on the Distribution Date (which
represents the ratio of the amount of the Investor
Interest as of such Record Date (determined after taking
into account any reduction in the Investor Interest
which will occur on the Distribution Date) to the
Initial Investor Interest): 1.00000000
The amount of a Certificateholder(s) pro rata share of
the Investor Interest can be determined by multiplying
the original denomination of the Certificateholder(s)
Certificate by the Pool Factor.
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS STATEMENT
THE CHASE MANHATTAN BANK USA, N.A.
Chase Manhattan Credit Card Master Trust
Series 1996-4
For Distribution Date 06/15/99
For Monthly Period 36
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-4 Supplement dated as of June 1, 1996 (together, the
Agreement) by and between The Chase Manhattan Bank USA, N.A. (Chase) and Yasuda
Bank and Trust Company(U.S.A.), as trustee (the Trustee), Chase, as Servicer, is
required to prepare certain information each month regarding current
distributions to Series 1996-4 Certificateholders and the performance of the
Chase Manhattan Credit Card Master Trust (the Trust)and the Series 1996-4 Class
A Certificates and Series 1996-4 Class B Certificates during the previous month.
The required information with respect to the 6/15/99 Distribution Date and with
respect to the performance of the Trust during the related month (the May, 1999
Monthly Period) is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-4 Investor
Certificate (a Certificate). Certain other information is presented based on the
aggregate amounts for the Trust as a whole. Capitalized terms used in this
Certificate have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A AND
CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL CERTIFICATE
PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-4
Certificateholders on 06/15/99 per $1,000 original
certificate principal amount
(1) Class A Certificateholders $0.000000
(2) Class B Certificateholders $1,005.741667
B) The amount of the distribution set forth in item I(A)
above in respect of principal of the 1996-4 Certificates,
per $1,000 original certificate principal amount
(1) Class A Certificateholders $0.000000
(2) Class B Certificateholders $1,000.000000
C) The amount of the distribution set forth in item I(A)
above in respect of interest on the 1996-4 Certificates,
per $1,000 original certificate principal amount
(1) Class A Certificateholders $0.000000
(2) Class B Certificateholders $5.741667
Chase Manhattan Credit Card Master Trust Series 1996-4
June 15, 1999
<PAGE>
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with
respect to the preceding Monthly Period and allocated to
the Series 1996-4 Certificates $127,618,685.88
(2) The Payment Rate with respect to the preceding
Monthly Period was equal to 12.75%
The monthly payment rate for the 2nd preceding Monthly
Period, (the 35th Monthly Period), 12.45%
The monthly payment rate for the 3rd preceding Monthly
Period, (the 34th Monthly Period), 13.68%
(3)(a) The aggregate amount of Collections of Principal
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of the
Series 1996-4 Certificates $126,465,515.76
(b) The aggregate amount of Investor Defaults treated as
Available Principal Collections pursuant to sections
4.08a.(iii), 4.10(b),(e),(l) $388,281.60
(4) The aggregate amount of Collections of Finance Charge
Receivables processed with respect to the preceding
Monthly Period which were allocated in respect of the
Series 1996-4 Certificates $1,153,170.12
B) Deficit Controlled Amortization Amount $0.00
C) Principal Receivables in the Trust and Allocation
Percentages
(1) The aggregate amount of Principal Receivables in the
Trust as of the end of the preceding Monthly Period
(which reflects the Principal Receivables represented by
the Seller Interest, by the Investor Interest of Series
1996-4, and by the Investor Interest of all other
outstanding Series) $4,154,630,230.92
(2) The Investor Interest as of the last day of the
preceding Monthly Period
(a) Investor Interest $0.00
(b) Class A Investor Interest $0.00
(c) Class B Investor Interest $0.00
(d) Collateral Interest $0.00
<PAGE>
(3) The Investor Interest set forth in item II(C)(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in item II(C)(1) above 0.0000%
(4) The Class A Investor Interest set forth in item
II(C)(2)(b) above as a percentage of the aggregate amount
of Principal Receivables set forth in item II(C)(1) above 0.0000%
(5) The Class B Investor Interest set forth in item
II(C)(2)(c) above as a percentage of the aggregate amount
of Principal Receivables set forth in item II(C)(1) above 0.0000%
(6) The Collateral Interest set forth in item II(C)(2)(d)
above as a percentage of the aggregate amount of
Principal Receivables set forth in item II(C)(1) above 0.0000%
(7) The Class A Floating Percentage 0.0000%
(8) The Class B Floating Percentage 57.1424%
(9) The Class B Principal Percentage 3.9999%
(10) The Collateral Floating Percentage 42.8576%
(11) The Collateral Principal Percentage 6.5001%
(12) The Floating Allocation Percentage 1.7898%
(13) The Principal Allocation Percentage 25.5687%
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding
Monthly Period 18.48%
The annualized portfolio yield for the 2nd preceding
Monthly Period,(the 35th Monthly Period), 8.34%
The annualized portfolio yield for the 3rd preceding
Monthly Period, (the 34th Monthly Period), 10.09%
The three month average Portfolio Yield 12.30%
(2) Base Rate for the preceding Monthly Period 8.27%
The Base Rate for the 2nd preceding Monthly Period,
(the 35th Monthly Period), 7.00%
The Base Rate for the 3rd preceding Monthly Period,
(the 34th Monthly Period), 7.27%
<PAGE>
E) Delinquent Balances
The aggregate amount of outstanding balances in the
Accounts which were delinquent as of the end of the last
day of the preceding Monthly Period:
(1) Up to 29 Days
Aggregate Account Balance $202,101,922.42
As a Percentage of Receivables 4.68%
(2) 30 - 59 Days
Aggregate Account Balance $55,109,002.60
As a Percentage of Receivables 1.28%
(3) 60 - 89 Days
Aggregate Account Balance $36,908,082.30
As a Percentage of Receivables 0.86%
(4) 90 or More Days
Aggregate Account Balance $80,769,467.51
As a Percentage of Receivables 1.87%
Total
Aggregate Account Balance $374,888,474.83
As a Percentage of Receivables 8.69%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect to
Billing Cycles ending during the preceding Monthly Period
allocable to the Investor Interest less Recoveries
allocable to the Investor Interest (the Series 1996-4
Aggregate Investor Default Amount) $388,281.60
(2) The portion of the Series 1996-4 Aggregate Investor
Default Amount allocable to the Class A Investor Interest
(the Class A Investor Default Amount) $0.00
(3) The portion of the Series 1996-4 Aggregate Investor
Default Amount allocable to the Class B Investor Interest
(the Class B Investor Default Amount) $221,873.44
(4) The portion of the Series 1996-4 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the Collateral Investor Default Amount) $166,408.16
<PAGE>
(5) The annualized investor default percentage ((Series
1996-4 Aggregate Investor Default Amount/Investor
Interest) x 12) for the preceding Monthly Period 6.22%
The annualized investor default % for the 2nd preceding
Monthly Period, (the 35th Monthly Period), 0.85%
The annualized investor default % for the 3rd preceding
Monthly Period, (the 34th Monthly Period), 1.70%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period $0.00
(2) The aggregate amount of Class A Investor Charge Offs
per $1,000 original Certificate Principal Amount $0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding the
preceding Distribution Date $0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in item II(G)(3) above, per $1,000 original Class A
Certificate principal amount $0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for the preceding Monthly Period $0.00
(6) The aggregate amount of Class B Investor Charge-Offs
per $1,000 original Certificate Principal Amount $0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding the
preceding Distribution Date $0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in item II(G)(7) above, per $1,000 original Class B
Certificate principal amount $0.00
(9) The aggregate amount of Investor Charge-Offs $0.00
(10) The aggregate amount of Investor Charge-Offs per
$1,000 Original Certificate Principal Amount $0.00
(11) The aggregate amount of Investor Charge-Offs
reimbursed on the Transfer Date Immediately preceding the
Distribution Date $0.00
<PAGE>
(12) The amount of the reimbursed Investor Charge-Offs
set forth in item II(G)(11) above, per $1,000 original
Investor principal amount $0.00
H) Shared Excess Finance Charge Collections
The aggregate amount of shared Excess Finance Charge
Collections during the preceding Monthly Period which
were allocated to the Series 1996-4 Certificates $0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections
during the preceding Monthly Period allocated to the
Series 1996-4 Certificates $0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to
Class B Certificates paid to Class A Certificates to make
up deficiencies in Class A Required Amounts for any
Monthly Period $0.00
(2) Collections of Principal Receivables allocable to the
Collateral Interest paid to Class B Certificates to make
up deficiencies in Class B Required Amounts $0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $134,134.19
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust for the preceding Monthly Period $0.00
(3) The amount of the Class B Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $76,647.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period $57,486.69
L) Collateral Interest
The Available Collateral Interest, as of the Transfer
Date for the preceding Monthly Period $0.00
M) Required Collateral Interest
The Required Collateral Interest as of the Transfer Date
for the preceding Monthly Period $0.00
<PAGE>
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the
distribution to be made on the Distribution Date (which
represents the ratio of the amount of the Investor
Interest as of such Record Date (determined after taking
into account any reduction in the Investor Interest which
will occur on the Distribution Date) to the Initial
Investor Interest): 0.00000000
The amount of a Certificateholder(s) pro rata share of
the Investor Interest can be determined by multiplying
the original denomination of the Certificateholder(s)
Certificate by the Pool Factor.
