SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______
FORM 10-K
(Mark One)
XX ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- --- EXCHANGE ACT OF 1934 (FEE REQUIRED)
For the fiscal year ended December 31, 1996
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
- --- SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from to .
Commission file numbers 0-21686
FORD CREDIT AUTO LOAN MASTER TRUST
SERIES 1992-1, 1992-2, 1994-1, 1995-1, 1996-1 AND 1996-2
(Ford Credit Auto Receivables Corporation - Originator)
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 38-2973806
- ------------------------ ----------------------------
(State of Incorporation) (Employer Identification No.)
The American Road, Dearborn, Michigan 48121
- ---------------------------------------- ----------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (313) 322-3000
Securities registered pursuant to Section 12(b) of the Act: NONE
Securities registered pursuant to Section 12(g) of the Act: NONE
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(c) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days. XX Yes. No.
----- -----
<PAGE>
<Page 2> PART I.
ITEM 1. Business
The Ford Credit Auto Loan Master Trust (the "Trust") was created on
February 5, 1992 pursuant to the Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement") dated as of December 31, 1991 among
Ford Motor Credit Company ("Ford Credit"), as servicer, Ford Credit
Auto Receivables Corporation (the "Company"), as seller, and The Chase
Manhattan Bank (the "Trustee"), as successor trustee. Pursuant to the
Pooling and Servicing Agreement, the Company transferred to the trust
property primarily consisting of wholesale receivables generated from
time to time in a portfolio of revolving financing arrangements with
automobile dealers to finance their automobile and light truck
inventory, collections as to the receivables, security interests in
the vehicles financed thereby and certain other property. Such
property was obtained by the Company pursuant to the Receivables
Purchase Agreement dated as of December 31, 1991 between the Company,
as purchaser, and Ford Credit, as servicer.
The Company has registered with the Securities and Exchange
Commission under the Securities Act of 1933, as amended, and sold to
the general public the Series 1992-1, 6 7/8% Auto Loan Asset Backed
Certificates (the "Series 1992-1 Certificates") in the initial
principal amount of $1,000,000,000, the Series 1992-2, 7 3/8% Auto
Loan Asset Backed Certificates (the "Series 1992-2 Certificates") in
the initial principal amount of $700,000,000, the Series 1994-1, Floating
Rate Auto Loan Asset Backed Certificates (the "1994-1 Certificates") in the
initial principal amount of $1,000,000,000, the Series 1995-1, 6.50% Auto
Loan Asset Backed Certificates (the "1995-1 Certificates") in the initial
principal amount of $1,000,000,000, the Series 1996-1, 5.50% Auto Loan Asset
Backed Certificates (the "1996-1 Certificates") in the initial principal
amount of $800,000,000 and the Series 1996-2 Variable Rate Auto Loan Asset
Backed Certificates (the "1996-2 Certificates") in the initial principal
amount of $960,000,000. The Series 1992-1 Certificates, Series 1992-2
Certificates, Series 1994-1 Certificates, the 1995-1 Certificates, the 1996-1
Certificates and the 1996-2 Certificates were created pursuant to the Series
1992-1 Supplement dated as of December 31, 1991 to the Pooling and Servicing
Agreement (the "1992-1 Supplement"), the Series 1992-2 Supplement dated as of
March 31, 1992 to the Pooling and Servicing Agreement (the "1992-2
Supplement"), the Series 1994-1 Supplement dated as of June 30, 1994 to
the Pooling and Servicing Agreement (the "1994-1 Supplement"), the Series
1995-1 Supplement dated as of June 30, 1995 to the Pooling and Servicing
Agreement (the "1995-1 Supplement"), the Series 1996-1 Supplement dated as of
December 31, 1995 to the Pooling and Servicing Agreement (the "1996-1
Supplement") and the Series 1996-2 Supplement dated as of December 31, 1995
to the Pooling and Servicing Agreement (the "1996-2 Supplement"),
respectively.
Each Series of Certificates represents an undivided interest in certain
assets of the Trust.
<PAGE>
<Page 3>
ITEM 2. PROPERTIES
- -------------------
For information regarding the property of the Trust, see the
Pooling and Servicing Agreement, the 1992-1 Supplement, the 1992-2
Supplement, the 1994-1 Supplement, the 1995-1 Supplement, the 1996-1
Supplement, the 1996-2 Supplement and the prospectuses
(Exhibits 19.13, 19.14, 19.15, 19.16, 19.17 and 19.18) relating to the Series
1992-1 Certificates, the Series 1992-2 Certificates, the 1994-1 Certificates,
the 1995-1 Certificates, the 1996-1 Certificates and the 1996-2 Certificates
and incorporated hereby by reference. The Series 1992-1 Certificates were
redeemed in January 1997. For additional information regarding
the Certificates contained in the Distribution Date Statements furnished to
the Trustee on each Distribution Date during 1996, see the Current Reports on
Form 8-K incorporated by reference herein (Exhibits 19.1 through 19.12). For
additional information, regarding the Certificates, see Exhibit 99.
ITEM 3. LEGAL PROCEEDINGS
Nothing to report.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Nothing to report.
PART II.
ITEM 5. MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED
STOCKHOLDER MATTERS
There were 61 Series 1992-2 Certificateholders, 29 Series 1994-1
Certificateholders, 77 Series 1995-1 Certificateholders, 61 Series 1996-1
Certificateholders and 14 Series 1996-2 Certificateholders at March 4, 1997.
There is no established public trading market for any of the Certificates.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE.
Nothing to report.
<PAGE>
<Page 4> PART III.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT
(3)Amount and
nature of
(2) Name and Address beneficial
(1)Title of of beneficial ownership (4)Percent
Class owner* (in thousands) of Class
--------- ---------------- -------------- --------
Series 1992-2 Bank of New York $ 86,900 12.4%
7 3/8% Auto Loan 925 Patterson Plank Rd.
Asset Backed Secaucus, NJ 07094
Certificates
Series 1992-2, Bankers Trust Company $101,175 14.4%
7 3/8% Auto Loan c/o BT Services
Asset Backed Tennessee Inc.
Certificates Pension Trust Services
648 Grassmere Park Drive
Nashville, TN 37211
Series 1992-2, The Chase Manhattan $235,925 33.7%
7 3/8% Auto Loan Bank
Asset Backed 2 Chase Manhattan Plaza
Certificates 5th Floor
New York, NY 10081
Series 1992-2 SSB-Custodian $ 84,060 12.0%
7 3/8% Auto Loan Global Proxy Unit, A5NW
Asset Backed P. O. Box 1631
Certificates Boston, MA 02105-1631
<PAGE>
<Page 5>
ITEM 12. (CONTINUED)
(3)Amount and
nature of
(2) Name and Address beneficial
(1)Title of of beneficial ownership (4)Percent
Class owner* (in thousands) of Class
--------- ---------------- -------------- --------
Series 1994-1 Bank of New York $ 66,140 6.6%
Floating Rate 1 Chase Manhattan Plaza
Auto Loan 3B-Proxy Dept.
Asset Backed New York, NY 10081
Certificates
Series 1994-1 Chase Manhattan Bank $ 93,915 9.4%
Floating Rate 2 Chase Manhattan Plaza
Auto Loan 5th Floor
Asset Backed New York, NY 10081
Certificates
Series 1994-1 Citicorp Services, Inc. $238,260 23.8%
Floating Rate P. O. Box 30576
Auto Loan Tampa, FL 33630-3576
Asset Backed
Certificates
Series 1994-1 Northern Trust Company $ 91,105 9.1%
Floating Rate 801 S. Canal C-In
Auto Loan Chicago, IL 60607
Asset Backed
Certificates
Series 1994-1 SSB-Custodian $451.175 45.1%
Floating Rate Global Proxy Unit, A5NW
Auto Loan P. O. Box 1631
Asset Backed Boston, MA 02105-1631
Certificates
Series 1995-1 Bank of New York $ 87,965 8.8%
6.50% Auto Loan 925 Patterson Plank Rd.
Asset Backed Secaucus, NJ 07094
Certificates
Series 1995-1 Bankers Trust Company $ 87,475 8.7%
6.50% Auto Loan c/o BT Services
Asset Backed Tennessee Inc.
Certificates Pension Trust Services
648 Grassmere Park Drive
Nashville, TN 37211
<PAGE>
<Page 6>
ITEM 12. (CONTINUED)
(3)Amount and
nature of
(2) Name and Address beneficial
(1)Title of of beneficial ownership (4)Percent
Class owner* (in thousands) of Class
--------- ---------------- -------------- --------
Series 1995-1 Boston Safe Deposit $ 63,760 6.4%
6.50% Auto Loan & Trust Co.
Asset Backed c/o Mellon Bank N.A.
Certificates Three Mellon Bank Center
Pittsburgh, PA 15259
Series 1995-1 Bank of Toyko-Mitsubishi $110,000 11.0%
6.50% Auto Loan Trust Company (The)
Asset Backed c/o The Bank of Tokyo
Certificates Trust Co.
100 Broadway
New York, NY 10005
Series 1995-1 Chase Manhattan Bank, $176,945 17.7%
6.50% Auto Loan Two Chase Manhattan Plaza
Asset Backed 5th Floor
Certificates New York, NY 10081
Series 1995-1 Corstates Bank N.A. $ 50,940 5.1%
6.50% Auto Loan P.O.Box 7618 F.C.#1-9-1-21
Asset Backed Philadelphia, PA 19106-7618
Certificates<PAGE>
<Page 7>
ITEM 12. (CONTINUED)
(3)Amount and
nature of
(2) Name and Address beneficial
(1)Title of of beneficial ownership (4)Percent
Class owner* (in thousands) of Class
--------- ---------------- -------------- --------
Series 1995-1 Northern Trust Co. $ 52,115 5.2%
6.50% Auto Loan -Trust
Asset Backed c/o ADP Proxy Services
Certificates 51 Mercedes Way
Edgewood, NY 11717
Series 1995-1 SSB-Custodian $140,885 14.1%
6.50% Auto Loan Global Proxy Unit, A5NW
Asset Backed P.O.Box 1631
Certificates Boston, MA 02105-1631
Series 1996-1 Bank of New York $ 46,250 5.2%
5.50% Auto Loan 925 Patterson Plank Rd.
Asset Backed Secaucus, NJ 07094
Certificates
Series 1996-1 Bankers Trust Company $ 66,850 8.3%
5.50% Auto Loan c/o BT Services
Asset Backed Tennessee, Inc.
Certificates Custody Services
648 Grassmere Park Road
Nashville, TN 37211
Series 1996-1 Bank One Trust Company $101,000 12.6%
5.50% Auto Loan N.A./Public Employee
Asset Backed Retirement System
Certificates 277 E. Town Street
Columbus, OH 43215
Series 1996-1 Boston Safe Deposit & $ 49,635 6.2%
5.50% Auto Loan Trust Co.
Asset Backed c/o Mellon Bank N.A.
Certificates Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
Series 1996-1 Chase Manhattan Bank $ 40,550 5.1%
5.50% Auto Loan Two Chase Manhattan Plaza
Asset Backed 5th Floor
Certificates New York, NY 10081
<PAGE>
<Page 8>
ITEM 12. (CONTINUED)
(3)Amount and
nature of
(2) Name and Address beneficial
(1)Title of of beneficial ownership (4)Percent
Class owner* (in thousands) of Class
--------- ---------------- -------------- --------
Series 1996-1 Prudential Securities Inc.$117,110 14.6%
5.50% Auto Loan 111 8th Avenue, 4th Floor
Asset Backed New York, NY 10011
Certificates
Series 1996-1 SSB-Custodian $ 98,075 12.2%
5.50% Auto Loan Global Proxy Unit, A5NW
Asset Backed P.O.Box 1631
Certificates Boston, MA 02105-1631
Series 1996-2 Bankers Trust Company $289,500 30.1%
Variable Auto c/o BT Services
Loan Asset Tennessee, Inc.
Backed Custody Services
Certificates 648 Grassmere Park Road
Nashville, TN 37211
Series 1996-2 Chase Manhattan Bank/ $ 55,400 5.8%
Variable Auto Chemical
Loan Asset Auto Settlement Department
Backed 4 New York Plaza, 4th Floor
Certificates New York, NY 10004
Series 1996-2 Citicorp Services, Inc. $206,000 21.4%
Variable Auto P. O. Box 30576
Loan Asset Tampa, FL 33607
Backed
Certificates
Series 1996-2 SSB-Custodian $314,870 32.8%
Variable Auto Global Proxy Unit, A5NW
Loan Asset P.O.Box 1631
Backed Boston, MA 02105-1631
Certificates
* As of March 4, 1997<PAGE>
<Page 9>
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Nothing to report.
PART IV.
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON
FORM 8-K
(a)3. Exhibits
Designation Description Method of Filing
- ----------- ----------- ----------------
Exhibit 3.1 Restated Certificate of Filed as Exhibit 3.1 to
Incorporation of Ford Ford Credit Auto
Credit Auto Receivables Receivables Corporation's
Corporation. Registration Statement on
Form S-1 (No. 33-44432)
and incorporated herein
by reference.
Exhibit 3.2 By-Laws of Ford Credit Filed as Exhibit 3.2 to
Auto Receivables Ford Credit Auto
Corporation. Receivables Corporation's
Registration Statement on
Form S-1 (No. 33-44432)
and incorporated herein
by reference.
Exhibit 4.1 Conformed copy of Pooling Filed as Exhibit 4.1 to
and Servicing Agreement Ford Credit Auto
dated as of December 31, Receivables Corporation's
1991 among Ford Credit Registration Statement on
Auto Receivables Form S-1 (No. 33-47582)
Corporation, as seller, and incorporated herein
Ford Motor Credit Company by reference.
as servicer, and Chemical
Bank, as trustee.
Exhibit 4.2 Conformed copy of Series Filed as Exhibit 4.2 to
1992-1 Supplement dated Ford Credit Auto Loan
as of December 31, 1991 Master Trust Current
to the Pooling and Report on Form 8-K dated
Servicing Agreement February 7, 1992 and
referenced in Exhibit and incorporated herein
4.1 above among Ford by reference.
Credit Auto Receivables
Corporation, as seller,
Ford Motor Credit Company,
as servicer, and Chemical
Bank, as trustee.<PAGE>
<Page 10>
ITEM 14. (Continued)
Designation Description Method of Filing
- ----------- ----------- -----------------
Exhibit 4.3 Conformed copy of Series Filed as Exhibit 4.2 to
1992-2 Supplement dated Ford Credit Auto Loan
as of March 31, 1993 to Master Trust Current
Pooling and Servicing Report on Form 8-K dated
Agreement referred to in May 15, 1992 and
Exhibit 4.1 above among incorporated herein by
Ford Credit Auto reference.
Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 4.4 Form of Series Filed as Exhibit 4.2 to
1994-1 Supplement dated Registration Statement No.
as of June 30, 1994 33-54673 on Form S-3 and
to Pooling and Servicing incorporated herein by
Agreement referred to in reference.
Exhibit 4.1 above among
Ford Credit Auto Receivables
Corporation, as seller, Ford
Motor Credit Company, as
servicer, and Chemical Bank,
as trustee.
Exhibit 4.5 Form of Series Filed as Exhibit 4.2 to
1995-1 Supplement dated Registration Statement
as of June 30, 1995 No. 33-61033 on Form S-3
to Pooling and Servicing and incorporated herein by
Agreement referred to in reference.
Exhibit 4.1 above among
Ford Credit Auto
Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 4.6 Form of Series Filed as Exhibit 4.2 to
1996-1 Supplement dated Registration Statement
as of December 31, 1995 No. 333-00243 on Form S-3
to Pooling and Servicing and incorporated herein by
Agreement referred to in reference.
Exhibit 4.1 above among
Ford Credit Auto
Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
<Page 11>
ITEM 14. (Continued)
Designation Description Method of Filing
- ----------- ----------- -----------------
Exhibit 4.7 Form of Series Filed as Exhibit 4.2 to
1996-2 Supplement dated Registration Statement
as of December 31, 1995 No. 333-00243 on Form S-3
to Pooling and Servicing and incorporated herein by
Agreement referred to in reference.
Exhibit 4.1 above among
Ford Credit Auto
Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 19.1 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended January 31, 1996. Master Trust Current
Report on Form 8-K
dated February 13, 1996
and incorporated herein
by reference.
Exhibit 19.2 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period ended Ford Credit Auto Loan
February 29, 1996. Master Trust Current
Report on Form 8-K
dated March 13, 1996
and incorporated herein
by reference.
Exhibit 19.3 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period ended Ford Credit Auto Loan
March 31, 1996. Master Trust Current
Report on Form 8-K
dated April 16, 1996
and incorporated herein
by reference.
Exhibit 19.4 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended April 30, 1996. Master Trust Current
Report on Form 8-K
dated May 24, 1996 and
incorporated herein by
reference.
<PAGE>
<Page 12>
ITEM 14. (Continued)
Designation Description Method of Filing
- ----------- ----------- -----------------
Exhibit 19.5 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended May 31, 1996. Master Trust Current
Report on Form 8-K
dated June 11, 1996 and
incorporated herein by
reference.
Exhibit 19.6 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended June 30, 1996. Master Trust Current
Report on Form 8-K
dated July 11, 1996 and
incorporated herein by
reference.
Exhibit 19.7 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended July 31, 1996 Master Trust Current
Report on Form 8-K
dated August 12, 1996
and incorporated
herein by reference.
Exhibit 19.8 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended August 31, 1996. Master Trust Current
Report on Form 8-K
dated September 9, 1996
and incorporated herein
by reference.
Exhibit 19.9 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended September 30, 1996. Master Trust Current
Report on Form 8-K
dated October 14, 1996
and incorporated herein
by reference.
Exhibit 19.10 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended October 31, 1996. Master Trust Current
Report on Form 8-K
dated November 13, 1996
and incorporated herein
by reference.
<PAGE>
<Page 13>
ITEM 14. (Continued)
Designation Description Method of Filing
- ----------- ----------- -----------------
Exhibit 19.11 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended November 30, 1996. Master Trust Current
Report on Form 8-K
dated December 9, 1996
and incorporated herein
by reference.
Exhibit 19.12 Distribution Date Statement Filed as Exhibit 19 to
for Collection Period Ford Credit Auto Loan
ended December 31, 1996. Master Trust Current
Report on Form 8-K
dated January 15, 1997
and incorporated herein
by reference.
Exhibit 19.13 Prospectus dated January Filed as Exhibit 28.1
30, 1992 relating to to Ford Credit Auto
Series 1992-1 Master Trust Current
Certificates. Report on Form 8-K
dated February 7, 1992
and incorporated herein
by reference.
Exhibit 19.14 Prospectus dated May Filed as Exhibit 28.1 to
11, 1992 relating to Ford Credit Auto Loan
Series 1992-2 Master Trust Current.
Certificates. Report on Form 8-K dated
May 15, 1992 and
incorporated herein by
reference.
Exhibit 19.15 Prospectus dated July Filed with the Commission
26, 1994 relating to pursuant to Rule 424(b)(1) on
Series 1994-1 July 27, 1994 and
Certificates. incorporated herein by
reference.
Exhibit 19.16 Prospectus dated August 1, Filed with the Commission
1995 relating to Series pursuant to Rule 424(b)(1)
1995-1 Certificates on August 3, 1995 and
incorporated herein by
reference.
<PAGE>
<Page 14>
ITEM 14. (Continued)
Designation Description Method of Filing
- ----------- ----------- -----------------
Exhibit 19.17 Prospectus dated February Filed with the Commission
12, 1996 relating to pursuant to Rule 424(b)(1)
Series 1996-1 Certificates on February 14, 1996 and
incorporated herein by
reference.
Exhibit 19.18 Prospectus dated February Filed with the Commission
12, 1996 relating to pursuant to Rule 424(b)(1)
Series 1996-2 Certificates on February 14, 1996 and
incorporated herein by
reference.
Exhibit 99.1 Selected Information Filed with this report.
relating to the Series
1992-1 Certificates, the
the Series 1992-2
Certificates, the Series
1994-1 Certificates and the
1995-1 Certificates.
<PAGE>
<Page 15>
(b) Reports on Form 8-K
Date of Report Item
October 14, 1996 Item 5 - Other Events
November 13, 1996 Item 5 - Other Events
December 9, 1996 Item 5 - Other Events
January 15, 1997 Item 5 - Other Events
SIGNATURES
Pursuant to the requirements of Section 13 of the Securities
Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly
authorized.
Ford Credit Auto Loan Master Trust
(Registrant)
March 25, 1997 By: /s/ Richard P. Conrad
------------------------
Richard P. Conrad
(Assistant Secretary of Ford
Credit Auto Receivables
Corporation, originator of
Trust)<PAGE>
<Page 16>
EXHIBIT INDEX
Exhibit
Number Description of Exhibit Page
- -------- ---------------------- ----
Exhibit 3.1 Restated Certificate of *
Incorporation of Ford Credit
Auto Receivables Corporation.
Exhibit 3.2 By-Laws of Ford Credit Auto *
Receivables Corporation.
Exhibit 4.1 Conformed copy of Pooling and *
Servicing Agreement dated as
of December 31, 1991 among
Ford Credit Auto Receivables
Corporation, as seller, Ford
Motor Credit Company, as
servicer, and Chemical Bank,
as trustee.
Exhibit 4.2 Conformed copy of Series *
1992-1 Supplement dated as of
December 31, 1991 to the
Pooling and Servicing
Agreement referenced in Exhibit
4.1 above among Ford Credit
Auto Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 4.3 Conformed copy of Series *
1992-2 Supplement dated as of
March 31, 1993 to the Pooling
and Servicing Agreement
referred to in Exhibit 4.1
above among Ford Credit Auto
Receivables Corporation, as
seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 4.4 Form of Series 1994-1 *
Supplement to the Pooling
and Servicing Agreement
referred to in Exhibit 4.1
above among Ford Credit
Auto Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.<PAGE>
<Page 17>
EXHIBIT INDEX
Exhibit
Number Description of Exhibit Page
- -------- ---------------------- ----
Exhibit 4.5 Form of Series 1995-1 *
Supplement to the Pooling
and Servicing Agreement
referred to in Exhibit 4.1
above among Ford Credit
Auto Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 4.6 Form of Series 1996-1 *
Supplement to the Pooling
and Servicing Agreement
referred to in Exhibit 4.1
above among Ford Credit
Auto Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 4.7 Form of Series 1996-2 *
Supplement to the Pooling
and Servicing Agreement
referred to in Exhibit 4.1
above among Ford Credit
Auto Receivables Corporation,
as seller, Ford Motor Credit
Company, as servicer, and
Chemical Bank, as trustee.
Exhibit 19.1 Distribution Date Statement *
for Collection Period
ended January 31, 1996.
Exhibit 19.2 Distribution Date Statement *
for Collection Period
ended February 29, 1996.
Exhibit 19.3 Distribution Date Statement *
for Collection Period
ended March 31, 1996.
Exhibit 19.4 Distribution Date Statement *
for Collection Period
ended April 30, 1996.
<PAGE>
<Page 18>
EXHIBIT INDEX
Exhibit
Number Description of Exhibit Page
- -------- ---------------------- ----
Exhibit 19.5 Distribution Date Statement *
for Collection Period
ended May 31, 1996.
Exhibit 19.6 Distribution Date Statement *
for Collection Period
ended June 30, 1996.
Exhibit 19.7 Distribution Date Statement *
for Collection Period
ended July 31, 1996.
Exhibit 19.8 Distribution Date Statement *
for Collection Period
ended August 31, 1996.
Exhibit 19.9 Distribution Date Statement *
for Collection Period
ended September 30, 1996.
Exhibit 19.10 Distribution Date Statement *
for Collection Period
ended October 31, 1996.
Exhibit 19.11 Distribution Date Statement *
for Collection Period
ended November 30, 1996.
Exhibit 19.12 Distribution Date Statement *
for Collection Period
ended December 31, 1996.
<PAGE>
<Page 19>
EXHIBIT INDEX
Exhibit
Number Description of Exhibit Page
- -------- ---------------------- ----
Exhibit 19.13 Prospectus dated January 30, *
1992 relating to Series
1992-1 Certificates.
Exhibit 19.14 Prospectus dated May 11, 1992 *
relating to Series 1992-2
Certificates.
Exhibit 19.15 Prospectus dated July 26, 1994 *
relating to Series 1994-1
Certificates.
Exhibit 19.16 Prospectus dated August 1, 1995 *
relating to Series 1995-1
Certificates.
Exhibit 19.17 Prospectus dated February 12, *
1996 relating to Series
1996-1 Certificates.
Exhibit 19.18 Prospectus dated February 12 *
1996 relating to Series
1996-2 Certificates.
Exhibit 99 Selected Information relating Filed with this Report.
to the Series 1992-1
Certificates, the Series 1992-2
Certificates, the Series
1994-1 Certificates, the
1995-1 Certificates, the 1996-1
Certificates and the 1996-2
Certificates.
_____________________
* Previously Filed
Exhibit 99
Selected Information
Relating to Series 1992-1 Certificates,
Series 1992-2 Certificates, Series 1994-1 Certificates,
Series 1995-1 Certificates, Series 1996-1 Certificates
and Series 1996-2 Certificates from January 1, 1996
through December 31, 1996
----------------------------------------
<TABLE>
<CAPTION>
Series 1992-1 Series 1992-2 Series 1994-1 Series 1995-1
6 7/8% Auto 7 3/8% Auto Floating Rate 6.50% Auto
Loan Asset Loan Asset Loan Asset Loan Asset
Backed Backed Backed Backed
Certificates Certificates Certificates Certificates
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Interest
Paid $ 68,750,000.04 $ 51,624,999.96 $ 57,778,234.99 $ 62,965,277.83
Servicing
Fee Paid $ 9,999,999.96 $ 6,999,999.96 $ 9,999,999.96 $ 9,999,999.96
Series 1996-1 Series 1996-2
5.50% Auto Floating Rate
Loan Asset Loan Asset
Backed Backed
Certificates Certificates
------------ ------------
Interest $ 36,733,333.36 $ 46,378,733.34
Paid
Servicing $ 6,666,666.70 $ 8,000,000.00
Fee Paid
</TABLE>
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