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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: May 15, 2000
CHASE MANHATTAN CREDIT CARD MASTER TRUST
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(Exact name of registrant as
specified in its charter)
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
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(Sponsor of the Trust)
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United States 33-40006 22-2382028
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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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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Item 5. Other Events:
Chase Manhattan Credit Card Master Trust is the issuer of 1 outstanding
series of asset backed certificates. The asset-backed certificates are serviced
in accordance with the Pooling and Servicing Agreement, dated as of June 1,
1991, as amended. The parties to the Pooling and Servicing Agreement are: Chase
Manhattan Bank USA, N.A., as servicer, and Yasuda Bank and Trust Company
(U.S.A.), as trustee.
On May 15, 2000, Chase, as servicer, distributed monthly interest to
the holders of the Series 1996-3 certificates. Chase furnished a copy of the
monthly certificateholders' report required by the Pooling and Servicing
Agreement. Copies of those monthly certificateholders' reports are being filed
as Exhibit 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 May 15, 2000 distribution.
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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: May 24, 1999
Chase Manhattan Credit Card Master Trust,
By: Chase Manhattan Bank USA, N.A.,
as Servicer
By: /s/ Patricia Garvey
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Name: Patricia Garvey
Title: Vice President
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INDEX TO EXHIBITS
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Exhibit No. Description
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20.1 Monthly Certificateholders' Statement with
respect to the May 15, 2000 distribution to
Certificateholders for Series 1996-3
Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
FORM OF MONTHLY CERTIFICATEHOLDERS STATEMENT
THE CHASE MANHATTAN BANK USA, N.A.
Chase Manhattan Credit Card Master Trust
Series 1996-3
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For the Distribution Date 05/15/00
For the Monthly Period 47
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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 05/15/00
during the previous month. The information which is required to be prepared with respect April , 2000
to the Distribution Date and with respect to the performance of the Trust during the 47
month (the 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
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-3 Certificateholders on 05/15/00
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 paragraph 1 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 paragraph 1 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
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
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A) Collections
(1) The aggregate amount of Collections processed with respect to
the preceding Monthly Period and allocated to the Series 1996-3 Certificates was equal to 139,815,226.30
(2) The Payment Rate with respect to the preceding Monthly
Period was equal to 12.40 %
The monthly payment rate for the 2nd preceding Monthly 46
Period was equal to 13.66 %
The monthly payment rate for the 3rd preceding Monthly 45
Period was equal to 12.65 %
(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 124,346,087.40
(3)b. The aggregate amount of Investor Defaults treated as
Available Principal Collections prusuant to sections 4.08 a.(iii), 4.10 (b),(e),(l) 4,294,337.87
(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 15,469,138.91
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 (represented by
the Seller Interest, the Investor Interest of Series 1996-3,
and the Investor Interest of all other outstanding Series) 2,838,170,460.67
(2) The Investor Interest as of the last day of the preceding Monthly Period
(a) Investor Interest 1,069,519,786.10
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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(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
(3) The Investor Interest set forth in paragraph C(2)(a) above as a
percentage of the aggregate amount of Principal Receivables
set forth in paragraph C(1) above 37.6834 %
(4) The Class A Investor Interest set forth in paragraph C(2)(b)
above as a percentage of the aggregate amount of Principal
Receivables set forth in paragraph C(1) above 33.7267 %
(5) The Class B Investor Interest set forth in paragraph C(2)(c)
above as a percentage of the aggregate amount of Principal
Receivables set forth in paragraph C(1) above 1.5073 %
(6) The Collateral Interest set forth in paragraph C(2)(d) above
as a percentage of the aggregate amount of Principal Receivables
set forth in paragraph C(1) above 2.4495 %
(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 37.1175 %
(13) The Principal Allocation Percentage 37.1175 %
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to 17.36 %
The annualized portfolio yield for the 2nd preceding Monthly 46
Period was equal to 19.35 %
The annualized portfolio yield for the 3rd preceding Monthly 45
Period was equal to 18.53 %
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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The three month average Portfolio Yield was equal to 18.41 %
(2) Base Rate for the preceding Monthly Period was equal to 9.17 %
The Base Rate for the 2nd preceding Monthly 46
Period was equal to 9.16 %
The Base Rate for the 3rd preceding Monthly 45
Period was equal to 9.15 %
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:
Up to 29 Days
Aggregate Account Balance 134,929,102.78
As a Percentage of Receivables 4.55 %
(2) 30 - 59 Days
Aggregate Account Balance 34,441,143.37
As a Percentage of Receivables 1.16 %
(3) 60 - 89 Days
Aggregate Account Balance 25,632,567.11
As a Percentage of Receivables 0.86 %
(4) 90 or More Days
Aggregate Account Balance 53,936,360.15
As a Percentage of Receivables 1.82 %
Total
Aggregate Account Balance 248,939,173.41
As a Percentage of Receivables 8.39 %
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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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) 4,294,337.87
(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) 3,843,431.56
(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) 171,770.34
(4) The portion of the Series 1996-3 Aggregate Investor Default Amount
allocable to the Collateral Investor Interest (the Collateral
Investor Default Amount) 279,135.98
(5) The annualized investor default percentage (Series 1996-3 Aggregate
Investor Default Amount/Investor Interest) x 12 for the preceding
Monthly Period was equal to 4.82 %
The annualized investor default % for (the 2nd preceding Monthly Period), the 46
Monthly Period, was equal to 5.44 %
The annualized investor default % for (the 3rd preceding Monthly Period), the 45
Monthly Period, was equal to 5.60 %
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 Off per $1,000 original Certificate
Principal Amount 0.00
(3) The aggregate amount of Class A Investor Charge-Offs reimbursed on the
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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Transfer Date immediately preceding the Distribution Date 0.00
(4) The amount of the reimbursed Investor Charge-Offs set forth in paragraph
G(2) above, per $1,000 original Class A Certificate principal amount 0.00
(5) The aggregate amount of Class B Investor Charge-Offs for such
Monthly Period 0.00
(6) The aggregate amount of Class B Investor Charge Off 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 such Distribution Date 0.00
(8) The amount of the reimbursed Investor Charge-Offs set forth in paragraph
G(6) 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 Investor Charge Off per $1,000 Original Certificate
Principal Amount 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs 0.00
(12) The amount of the reimbursed Investor Charge-Offs set forth in paragraph
G(9) above, per $1,000 original Investor principal amount 0.00
H) Shared Excess Finance Charge Collection
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 with
respect to Class A Certificates to make up deficiencies in Class
A Required Amount for any Monthly Period 0.00
(2) Collections of Principal Receivables allocable to Collateral Interest
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
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paid with respect to Class B Certificates to make up deficiencies
in Class B Required Amount 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
(1) The Available Collateral Interest, as of the close of Transfer Date
for the preceding Monthly Period was equal to 69,519,786.10
M) Required Collateral Interest
(1) The Required Collateral interest as of the Transfer Date for the
preceding Monthly Period was equal to 69,519,786.10
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). The amount of a Certificateholders pro rata share of the
Investor Interest can be determined by multiplying the original denomination of the
Certificateholders Certificate by the Pool Factor. 1.00000000
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(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Credit Card Master Trust Series 1996-3
May 15 2000
THE CHASE MANHATTAN BANK USA, N.A.
Servicer
By:
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Name: Patricia Garvey
Title: Vice President
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
