CHASE MANHATTAN BANK USA
8-K, 2000-02-23
ASSET-BACKED SECURITIES
Previous: CHASE MANHATTAN BANK USA, 8-K, 2000-02-23
Next: CHASE MANHATTAN BANK USA, 8-K, 2000-02-23



<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: February 15, 2000

                 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 GRANTOR TRUST 1996-B
           ----------------------------------------------------------
                      (Issue with respect to Certificates)

       United States                 333-7575               22-2382028
- ----------------------------  ------------------------  ------------------------
(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: (212) 270-6000
<PAGE>

Item 5. Other Events:

      Chase Manhattan Auto Grantor Trust 1996-B is the issuer of two classes of
Automobile Loan Pass-Through Certificates. The certificates are serviced in
accordance with the Pooling and Servicing Agreement, dated as of September 1,
1996, as amended. The parties to the Pooling and Servicing Agreement are: Chase
Manhattan Bank USA, National Association, as seller and as servicer, and Norwest
Bank Minnesota, National Association, as trustee.

      On February 15, 2000, Chase, as servicer, distributed monthly interest to
the holders of the Series 1996-B certificates. Chase furnished a copy of the
monthly certificateholders' report for the series as required by the Pooling and
Servicing Agreement. A copy of the monthly certificateholders' report is being
filed as Exhibit 20.1 to this Current Report on Form 8-K.

Item 7(c).        Exhibit

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

                  20.1              Monthly Certificateholder's statements with
                                    respect to the February 15, 2000
                                    distribution.
<PAGE>

                                   SIGNATURES

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

Dated: February 23, 2000

                                        By: THE CHASE MANHATTAN BANK, USA,
                                            NATIONAL ASSOCIATION
                                            as Servicer


                                        By: /s/ Patricia Garvey
                                            ------------------------------------
                                        Name: Patricia Garvey
                                        Title: Vice President
<PAGE>

                                INDEX TO EXHIBITS

Exhibit No.                     Description
- -----------                     -----------

20.1                            Certificateholder Report dated 2/15/2000
                                delivered pursuant to Section 5.7 of the Pooling
                                and Servicing Agreement dated as of September 1,
                                1996.

<PAGE>


                                                                          Page 1

Chase Manhattan Auto Grantor Trust 1996-B

                         Statement to Certificateholders
                                February 15 2000

<TABLE>
<CAPTION>
      DISTRIBUTION IN DOLLARS

         ORIGINAL           PRIOR                                                                                  CURRENT
         FACE               PRINCIPAL                                                        REALIZED   DEFERRED   PRINCIPAL
 CLASS   VALUE              BALANCE          PRINCIPAL        INTEREST       TOTAL              LOSES   INTEREST   BALANCE
<S>      <C>                <C>              <C>              <C>            <C>                <C>       <C>      <C>
A        1,478,422,107.71   197,627,155.39   16,427,163.71    1,088,596.25   17,515,759.96      0.00      0.00     181,199,991.68
B           45,725,000.00     6,112,260.91      508,063.33       34,432.40      542,495.73      0.00      0.00       5,604,197.58
TOTALS   1,524,147,107.71   203,739,416.30   16,935,227.040   1,123,028.65   18,058,255.69      0.00      0.00     186,804,189.26
</TABLE>

<TABLE>
<CAPTION>
      FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                           PASS-THROUGH RATES
         PRIOR                                                 CURRENT                CURRENT
         PRINCIPAL                                             PRINCIPAL      CLASS   PASS THRU
 CLASS   FACTOR         PRINCIPAL     INTEREST    TOTAL        FACTOR                 RATE
<S>      <C>            <C>           <C>         <C>          <C>            <C>     <C>
A        133.67437781   11.11128116   .73632303   11.84760419  122.56309665   A       6.610000 %
B        133.67437747   11.11128114   .75303226   11.86431340  122.56309634   B       6.760000 %
TOTALS   133.67437780   11.11128116   .73682432   11.84810547  122.56309664
</TABLE>

IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:

Mark  McDermott
The Chase Manhattan Bank - Structured Finance Services
450 W. 33rd Street, 14th Floor,
New York, New York 10001
Tel: (212) 946-7016
Email: [email protected]

                                  (C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
<PAGE>

                                                                          Page 2

Chase Manhattan Auto Grantor Trust 1996-B

                                February 15 2000
                         STATEMENT TO CERTIFICATEHOLDERS

                                               Due Period                     41
                                               Due Period Beg Date      01/01/00
                                               Due Period End Date      01/31/00
                                               Determination Date       02/10/00

Section 5.8(iii)  Servicing Fee
Section 5.8(iii)  Servicing Fee per $1000

Section 5.8(v) Pool Balance at the end of the Collection Period

Section 5.8(vi)  Net Losses for Collection Period

Section 5.8(vii)  Carryover Shortfall for Collection Period
                                        Class A Interest                    0.00
                                        Class B Interest                    0.00
                                        Class A Principal                   0.00
                                        Class B Principal                   0.00
                                        TOTAL                               0.00

Section 5.8(viii)  Reserve Account Balance after Disbursement

Section 5.8(ix)  Specified Reserve Account Balance

Section 5.8(x) Repurchase Amounts for Repurchased Receivables
                                        By Seller                           0.00
                                        By Servicer                  196,632.11
                                        TOTAL                        196,632.11

                                  (C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION

<PAGE>

                                                                          Page 3

Chase Manhattan Auto Grantor Trust 1996-B

                                                                February 15 2000

Section 5.8(xi) Advance Summary for Collection Period
              Unreimbursed Advances for Previous Period             4,083,313.71
              Unreimbursed Advances for Period                      3,993,555.69
              Change From Previous Periods                            -89,758.02

              Reimbursed advance from collections                     320,220.88
              Reimbursed advance from liquidation proceeds             10,514.23
              Reimbursed advance from reserve account withdrawals           0.00



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission