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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 6, 1996
OLYMPIC RECEIVABLES FINANCE CORP.
as originator to
OLYMPIC AUTOMOBILE RECEIVABLES TRUST, 1996-B
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(Exact name of registrant as specified in its charter)
Delaware 33-97608 41-(Applied for)
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
7825 Washington Avenue South, Minneapolis, Minnesota 55439-2435
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(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 942-9880
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Not Applicable
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(Former name or former address, if changed since last report
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Item 1. CHANGES IN CONTROL OF REGISTRANT.
Not applicable.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not applicable.
Item 3. BANKRUPTCY OR RECEIVERSHIP.
Not applicable.
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
Not applicable.
Item 5. OTHER EVENTS.
Not applicable.
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not applicable.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
The following exhibits are filed herewith. The exhibit number
corresponds with Item 601(b) of Regulation S-K.
Exhibit No. Description
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23.2 Consent of Coopers & Lybrand L.L.P.
25.1 Form T-1 Statement of Eligibility of
Norwest Bank Minnesota, National Association,
as Trustee
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: June 7, 1996 OLYMPIC RECEIVABLES FINANCE CORP.,
as originator of Olympic Automobile
Receivables Trust 1996-B
By: /s/ Brian S. Anderson
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Brian S. Anderson
Vice President
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INDEX TO EXHIBITS
Exhibit Number Page
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23.2 Consent of Coopers & Lybrand L.L.P.
25.1 Form T-1 Statement of Eligibility of Norwest Bank
Minnesota, National Association, as Trustee
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[Letterhead]
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement dated
June 5, 1996 (to Prospectus dated March 7, 1996) of Olympic Receivables
Finance Corp. relating to Olympic Automobile Receivables Trust, 1996-B of our
report dated January 17, 1996 on our audits of the consolidated financial
statements of Financial Security Assurance Inc. and Subsidiaries as of
December 31, 1995 and 1994 and for each of the three years in the period
ended December 31, 1995. We also consent to the reference to our Firm under
the caption "Experts."
/s/ Coopers & Lybrand L.L.P.
COOPERS & LYBRAND L.L.P.
New York, New York
June 6, 1996
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE
PURSUANT TO SECTION 305(b) (2)
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
A National Banking Association 41-1592157
(Jurisdiction of incorporation or (I.R.S. Employer
organization if not a U.S. national bank (Identification No.)
Sixth Street and Marquette Avenue 55479
Minneapolis, Minnesota (Zip Code)
(Address of principal executive offices)
Olympic Automobile receivables Trust, 1996-B
(Exact name of obligor as specified in its charter)
Delaware Applied For
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
C/O Mellon Bank (DE), National Association
as Owner Trustee
919 North Market Street
2nd Floor
Wilmington, Delaware 19801
(Address of principal executive offices) (Zip Code)
5.39% Class A-1 Money Market Automobile Receivables-Backed Notes
6.00% Class A-2 Automobile Receivables-Backed Notes
6.50% Class A-3 Automobile Receivables-Backed Notes
6.70% Class A-4 Automobile Receivables-Backed Notes
6.90% Class A-5 Automobile Receivables-Backed Notes
6.90% Automobile Receivables-Backed Certificates
(Title of the indenture securities)
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Item 1. GENERAL INFORMATION. Furnish the following information as to the
trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
Comptroller of the Currency
Treasury Department
Washington, D.C.
Federal Deposit Insurance Corporation
Washington, D.C.
The Board of Governors of the Federal Reserve
System
Washington, D.C.
(b) Whether it is authorized to exercise
corporate trust powers.
The trustee is authorized to exercise
corporate trust powers.
Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the
trustee, describe each such affiliation.
None with respect to the trustee.
No responses are included for Items 3-15 of this Form T-1 because the obligor is
not in default as provided under Item 13.
Item 16. LIST OF EXHIBITS. List below all exhibits filed as a part of this
Statement of Eligibility. Norwest Bank incorporates by reference into
this Form T-1 the exhibits attached hereto:
Exhibit 1. a. A copy of Articles of Association of the trustee now in
effect.*
Exhibit 2. a. A copy of the certificate of authority of the trustee
to commence business issued June 28, 1872, by the
Comptroller of the Currency to The Northwestern
National Bank of Minneapolis.*
b. A copy of the certificate of the Comptroller of the
Currency dated January 2, 1934, approving the
consolidation of the Northwestern National Bank of
Minneapolis and the Minnesota Loan and Trust Company of
Minneapolis.*
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c. A copy of the certificate of the Acting Comptroller of
the Currency dated January 12, 1943, as to change of
corporate title of Northwestern National Bank and Trust
Company of Minneapolis to Northwestern National Bank of
Minneapolis.*
d. A copy of the certificate of the Comptroller of the
Currency dated May 1, 1983, authorizing Norwest Bank
Minneapolis, National Association, to act as
fiduciary.*
Exhibit 3. A copy of the authorization of the trustee to exercise
corporate trust powers issued January 2, 1934, by the
Federal Reserve Board.*
Exhibit 4. Copy of By-laws of the trustee as now in effect.*
Exhibit 5. Not applicable.
Exhibit 6. The consent of the trustee required by Section 321(b)
of the Act.*
Exhibit 7. A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its
supervising or examining authority.
Exhibit 8. A copy of the certificate dated May 10, 1983 of name
change from Northwestern National Bank Minneapolis to
Norwest Bank Minneapolis, National Association.*
Exhibit 9. A copy of the certificate dated January 11, 1988, of
name change from Norwest Bank Minneapolis, National
Association to Norwest Bank Minnesota, National
Association.*
* Incorporated by reference to the exhibit of the same number filed
with the registration statement number 33-66086.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
trustee, Norwest Bank Minnesota, National Association, a national banking
association organized and existing under the laws of the United States of
America, has duly caused this statement of eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of
Minneapolis and State of Minnesota on the 6th of June 1996.
NORWEST BANK MINNESOTA,
NATIONAL ASSOCIATION
/s/ Thomas D. Wraalstad
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Thomas D. Wraalstad
Account Manager
