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Previous: BOOKS A MILLION INC, 10-K405, 1997-05-02 |
Next: GREATER CHINA GROWTH PORTFOLIO, N-30D, 1997-05-02 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended February 1, 1997
Commission file number 0-21118
PRIME RECEIVABLES CORPORATION
(Originator of Prime Credit Card Master Trust)
(Exact name of registrant as specified in its charter)
Delaware 31-1359594
(State of Incorporation) (I.R.S. Employer Identification No.)
9111 Duke Blvd., Mason, Ohio 45040
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 513-573-2037
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
7.05% Class A-1 Asset Backed Certificates, Series 1992-1
7.45% Class A-2 Asset Backed Certificates, Series 1992-2
7.55% Class B-1 Asset Backed Certificates, Series 1992-1
7.95% Class B-2 Asset Backed Certificates, Series 1992-2
6.75% Class A Asset Backed Certificates, Series 1995-1
6.90% Class B Asset Backed Certificates, Series 1995-1
6.70% Class A Asset Backed Certificates, Series 1996-1
6.85% Class B Asset Backed Certificates, Series 1996-1
The registrant has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months and has been subject to such filing
requirements for the past 90 days.
Disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not required.
PART I
Item 2. Properties
Exhibit 99.1 to this Report sets forth certain
information relating to the fiscal year ended February 1, 1997
("Fiscal Year 1996") of Prime Credit Card Master Trust (the
"Trust"). Such information, which was derived from monthly
settlement statements relating to such period which were
delivered to The Chase Manhattan Bank, successor in interest to
Chemical Bank ( "Chase Bank"), as Trustee, pursuant to the
Amended and Restated Pooling and Servicing Agreement, dated as of
December 15, 1992, among Prime Receivables Corporation (the
"Company"), Federated Department Stores, Inc. ("Federated"), as
Servicer (which has been succeeded in such capacity by FDS
National Bank ("FDS")), and Chase Bank, as Trustee, as
supplemented and amended (the "Pooling and Servicing Agreement"),
is incorporated herein by this reference.
Item 3. Legal Proceedings
Federated and its subsidiaries, including FDS, are
involved in various proceedings that are incidental to the normal
course of their businesses. The Company does not expect that any
of such proceedings will have a material adverse effect on the
credit card receivables held by the Trust.
Item 4. Submission of Matters to a Vote of Security Holders
None.
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters
As of March 31, 1997, the following certificates
representing undivided interests in the Trust had been issued:
(i) $450.0 million aggregate principal amount of 7.05% Class A-1
Asset Backed Certificates, Series 1992-1 (the "Class A-1
Certificates"), (ii) $450.0 million aggregate principal amount of
7.45% Class A-2 Asset Backed Certificates, Series 1992-2 (the
"Class A-2 Certificates"), (iii) $40.5 million aggregate
principal amount of 7.55% Class B-1 Asset Backed Certificates,
Series 1992-1 (the "Class B-1 Certificates"), (iv) $40.5 million
aggregate principal amount of 7.95% Class B-2 Asset Backed
Certificates, Series 1992-2 (the "Class B-2 Certificates"), (v)
$55.0 million aggregate principal amount of 8.05% Class C-1 Asset
Backed Certificates, Series 1992-1 (the "Class C-1 Certificates"),
(vi) $55.0 million aggregate principal amount of 8.45% Class C-2
Asset Backed Certificates, Series 1992-2 (the "Class C-2 Certificates"),
(vii) Class A Variable Funding Certificates, Series 1992-3 (the "Class A
Variable Funding Certificates"), (viii) Class B Variable Funding
Certificates, Series 1992-3 (the "Class B Variable Funding Certificates"),
(ix) $546.0 million aggregate principal amount of 6.75% Class A Asset
Backed Certificates, Series 1995-1 (the "Class A-1995
Certificates"), (x) $52.0 million aggregate principal amount of
6.90% Class B Asset Backed Certificates, Series 1995-1 (the
"Class B-1995 Certificates"), (xi) $52.0 million aggregate
principal amount of 9.00% Class C Asset Backed Certificates,
Series 1995-1 (the "Class C-1995 Certificates"), (xii) $218.0
million aggregate principal amount of 6.70% Class A Asset Backed
Certificates, Series 1996-1 (the "Class A-1996 Certificates"),
(xiii) $20.8 million aggregate principal amount of 6.85% Class B
Asset Backed Certificates, Series 1996-1 (the "Class B-1996
Certificates"), (xiv) $20.8 million aggregate principal amount of
9.0% Class C Asset Backed Certificates, Series 1996-1 (the "Class
C-1996 Certificates") and (xv) an exchangeable certificate
representing the remaining undivided interests in the Trust (the
"Transferor Certificate"). The information regarding the record
ownership of the foregoing certificates set forth in Item 12 of
this Report is incorporated herein by this reference.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure
None.
Item 12. Security Ownership of Certain Beneficial Owners and
Management
As of March 31, 1997, the Class A-1 Certificates, the
Class A-2 Certificates, the Class B-1 Certificates, the Class B-2
Certificates, the Class A-1995 Certificates, the Class B-1995
Certificates, the Class A-1996 Certificates and the Class B-1996
Certificates (collectively, the "Registered Certificates") were
held of record by Cede & Co., as nominee of The Depository Trust
Company. To the Company's knowledge, based solely on the fact
that the Company has not received notice of any filings having
been made with the Securities and Exchange Commission reporting
the acquisition of more than 5% of any class or series of the
Registered Certificates, no person beneficially owned more than
5% of any class or series of the Registered Certificates. Of the
remaining certificates representing undivided interests in the
Trust that were outstanding as of such date, (i) Corporate
Receivables Corporation owned beneficially and of record 100% of
the Class C-1 Certificates and 100% of the Class C-2
Certificates, (ii) Seven Hills Funding Corporation ("Seven
Hills"), an indirect wholly owned subsidiary of Federated, owned
beneficially and of record 100% of the Class A Variable Funding
Certificates, and (iii) the Company owned beneficially and of
record 100% of the Class B Variable Funding Certificates, the
Class C-1995 Certificates, the Class C-1996 Certificates and the
Transferor Certificate. The Class A Variable Funding
Certificates have been pledged by Seven Hills to Chase Bank, as
collateral agent, to secure certain commercial paper notes to be
issued by Seven Hills from time to time and certain related
obligations of Seven Hills. The principal business address of
Corporate Receivables Corporation is 450 Mamoroneck Avenue,
Harrison, New York, 10528, and the principal business address of
each of the Company and Seven Hills is 9111 Duke Blvd., Mason,
Ohio 45040.
Item 13. Certain Relationships and Related Transactions
Except for the transactions contemplated by the Pooling
and Servicing Agreement, the Company is not aware of any
transactions or series of similar transactions during Fiscal Year
1996, or any currently proposed transaction or series of similar
transactions, in which the amount involved exceeded or is
proposed to exceed $60,000, to which the Trust was a party or is
proposed to be a party, and in which any person known to the
Company to own more than 5% of any class of certificates
representing undivided interests in the Trust had or has a direct
or indirect material interest.
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports
on Form 8-K
a. Exhibits
99.1 Annual Settlement Statement for the Trust for
the period from February 3, 1996 through February 1, 1997.
99.2 Annual Report of Independent Public
Accountants (Part A) regarding internal controls.
99.3 Annual Report of Independent Public
Accountants (Part B) regarding Monthly Settlement Statements for
the period from February 3, 1996 through February 1, 1997.
b. Reports on Form 8-K.
Each month the Company files a Current Report on
Form 8-K which includes, as an exhibit, a copy of the settlement
statement relating to the preceding monthly period required under
the Pooling and Servicing Agreement to be delivered to the
Trustee.
SIGNATURES
Pursuant to the requirements of Section 13 of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be executed on its behalf by the undersigned,
thereunto duly authorized.
PRIME RECEIVABLES CORPORATION
(Originator of Prime Credit Card Master Trust)
By:/s/ Susan P. Storer
Susan P. Storer, President
Dated: April 24, 1997
Pursuant to the requirements of Section 13 of the
Securities Exchange Act of 1934, this report has been signed
below by the following persons on behalf of the Registrant and in
the capacities indicated on April 24, 1996.
Signature Title
/s/ Karen M. Hoguet Chairman of the Board
Karen M. Hoguet and Director
(principal executive officer)
/s/ Susan P. Storer President and Director
Susan P. Storer (principal financial and
accounting officer)
/s/ John R. Sims Director
John R. Sims
The Settlement Statements for the months of February through
December, 1996 and January, 1997 have been revised and are
attached hereto.
Prime Credit Card Master Trust 16-Apr-97
16-Apr-97
Settlement Statement
Fiscal Period: Annual 1996
4-Feb-96
1-Feb-97
(i) Collections 4,761,911,422
Finance Charge 527,009,560
Principal 4,234,901,862
(ii) Investor Percentage - Principal Collections 1-Feb-97
Series 1992-1 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-2 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-3 4.67%
A 3.86%
B 0.82%
Series 1995-1 26.11%
A 21.94%
B 2.09%
C 2.09%
Series 1996-1 10.43%
A 8.76%
B 0.84%
C 0.84%
(iii) Investor Percentage - Finance Charge Collections, Receivables
in Defaulted Accounts 1-Feb-97
Series 1992-1 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-2 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-3 4.67%
A 3.86%
B 0.82%
Series 1995-1 26.11%
A 21.94%
B 2.09%
C 2.09%
Series 1996-1 10.43%
A 8.76%
B 0.84%
C 0.84%
(iv) Distribution Amount per $1,000 FY 1996
Series 1992-1 70.44
A 70.50
B 75.50
C 64.38
Series 1992-2 74.15
A 74.50
B 79.50
C 64.38
Series 1992-3 825.60
A 1,000.72
B -
Series 1995-1 67.63
A 67.50
B 69.00
C -
Series 1996-1 50.53
A 50.44
B 51.57
C -
Total $'s Distributed
Series 1992-1 37,261,528
Series 1992-2 39,223,528
Series 1992-3 4,183,177,455
Series 1995-1 40,443,000
Series 1996-1 12,067,630
(v) Allocation to Principal per $1,000 FY 1996
Series 1992-1 0
A 0
B 0
C 0
Series 1992-2 0
A 0
B 0
C 0
Series 1992-3 825
A 1000
B 0
Series 1995-1 0
A 0
B 0
C 0
Series 1996-1 0
A 0
B 0
C 0
Total $'s Distributed 4,180,156,477
Series 1992-1 -
Series 1992-2 -
Series 1992-3 4,180,156,477
Series 1995-1 -
Series 1996-1 -
(vi) Allocation to Interest per $1,000 FY 1996
Series 1992-1 70.44
A 70.50
B 75.50
C 64.38
Series 1992-2 74.15
A 74.50
B 79.50
C 64.38
Series 1992-3 0.60
A 0.72
B -
Series 1995-1 67.63
A 67.50
B 69.00
C -
Series 1996-1 50.53
A 50.44
B 51.57
C -
Total $'s Distributed
Series 1992-1 37,261,528
Series 1992-2 39,223,528
Series 1992-3 3,020,979
Series 1995-1 40,443,000
Series 1996-1 12,067,630
(vii) Investor Default Amount
Series 1992-1 51,041,397
A 42,105,643
B 3,789,508
C 5,146,245
Series 1992-2 51,041,397
A 42,105,643
B 3,789,508
C 5,146,245
Series 1992-3 6,460,840
A 5,330,193
B 1,130,647
Series 1995-1 60,819,263
A 51,088,181
B 4,865,541
C 4,865,541
Series 1996-1 17,805,411
A 14,952,156
B 1,426,628
C 1,426,628
(viii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0 0
A 0 0
B 0 0
C 0 0
Series 1992-2 0 0
A 0 0
B 0 0
C 0 0
Series 1992-3 0 0
A 0 0
B 0 0
Series 1995-1 0 0
A 0 0
B 0 0
C 0 0
Series 1996-1 0 0
A 0 0
B 0 0
C 0 0
(ix) Servicing Fee
Series 1992-1 10,910,000
A 9,000,000
B 810,000
C 1,100,000
Series 1992-2 10,910,000
A 9,000,000
B 810,000
C 1,100,000
Series 1992-3 1,319,548
A 1,088,627
B 230,921
Series 1995-1 13,000,000
A 10,920,000
B 1,040,000
C 1,040,000
Series 1996-1 3,735,355
A 3,136,778
B 299,289
C 299,289
(x) Deficit Controlled Amortization Amount
Series 1992-1 0
A 0
B 0
C 0
Series 1992-2 0
A 0
B 0
C 0
Series 1992-3 0
A 0
B 0
Series 1995-1 0
A 0
B 0
C 0
Series 1996-1 0
A 0
B 0
C 0
(xi) Receivables in Trust 1-Feb-97 2,551,014,278
Principal Receivables in Trust 2,476,524,661
(xii) Invested Amount 1-Feb-97
Series 1992-1 545,500,000
A 450,000,000
B 40,500,000
C 55,000,000
Series 1992-2 545,500,000
A 450,000,000
B 40,500,000
C 55,000,000
Series 1992-3 176,971,996
A 146,001,897
B 30,970,099
Series 1995-1 650,000,000
A 546,000,000
B 52,000,000
C 52,000,000
Series 1996-1 259,600,000
A 218,000,000
B 20,800,000
C 20,800,000
(xiii) Enhancement NA
(xiv) Pool Factor
Series 1992-1 1
A 1
B 1
C 1
Series 1992-2 1
A 1
B 1
C 1
Series 1995-1 1
A 1
B 1
C 1
Series 1996-1 1
A 1
B 1
C 1
(xv) Yield Factor 10.24%
Finance Charge Receivables Factor 2.92%
(xvi) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvii) Other
Delinquency
Current 75.52% 1,947,562,753
30 days 16.16% 416,833,506
60 days 3.33% 85,876,210
90 days 1.54% 39,768,324
120 days 1.13% 29,057,463
150 days 0.99% 25,501,994
180 days+ 1.33% 34,347,221
Total 100.00% 2,578,947,471
Balance in Pre-Funding Account 0
Prime Credit Card Master Trust 21-Apr-97
12:03 PM
Settlement Statement
- --------------------
Distribution Date: 15-Mar-96
Monthly Period: February, 1996
04-Feb-96
02-Mar-96
(i) Collections 339,048,850
Finance Charge REVISED 36,431,730
Principal REVISED 302,617,120
(ii) Investor Percentage - Principal Collections 02-Mar-96
Series 1992-1 26.40%
A 21.78%
B 1.96%
C 2.66%
Series 1992-2 26.40%
A 21.78%
B 1.96%
C 2.66%
Series 1992-3 4.40%
A 3.63%
B 0.77%
Series 1995-1 31.46%
A 26.42%
B 2.52%
C 2.52%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 02-Mar-96
Series 1992-1 26.40%
A 21.78%
B 1.96%
C 2.66%
Series 1992-2 26.40%
A 21.78%
B 1.96%
C 2.66%
Series 1992-3 4.40%
A 3.63%
B 0.77%
Series 1995-1 31.46%
A 26.42%
B 2.52%
C 2.52%
(iii) Distribution Amount per $1,000 15-Mar-96
Series 1992-1 REVISED 5.850
A 5.875
B 6.292
C REVISED 5.087
Series 1992-2 REVISED 6.159
A 6.208
B 6.625
C REVISED 5.087
Series 1992-3 825.35
A 1,000.43
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Total $'s Distributed
Series 1992-1 REVISED 3,094,420.50
Series 1992-2 REVISED 3,257,920.50
Series 1992-3 826,368,000.00
Series 1995-1 3,370,250.00
(iv) Allocation to Principal per $1,000 15-Mar-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 826,013,352.63
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 826,013,352.63
Series 1995-1 0.00
(v) Allocation to Interest per $1,000 15-Mar-96
Series 1992-1 5.850
A 5.875
B 6.292
C 5.087
Series 1992-2 6.159
A 6.208
B 6.625
C 5.087
Series 1992-3 0.354
A 0.429
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Total $'s Distributed
Series 1992-1 3,094,420.50
Series 1992-2 3,257,920.50
Series 1992-3 354,647.37
Series 1995-1 3,370,250.00
(vi) Investor Default Amount
Series 1992-1 3,968,525.26
A 3,273,760.53
B 294,638.45
C 400,126.29
Series 1992-2 3,968,525.26
A 3,273,760.53
B 294,638.45
C 400,126.29
Series 1992-3 763,814.62
A 630,147.06
B 133,667.56
Series 1995-1 4,728,765.23
A 3,972,162.79
B 378,301.22
C 378,301.22
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 159,756.92
A 131,799.46
B 27,957.46
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 02-Mar-96 2,130,565,939
Principal Receivables in Trust 2,060,470,320
(xi) Invested Amount 02-Mar-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 REVISED 90,910,306.53
A REVISED 75,001,002.89
B REVISED 15,909,303.64
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 9.17%
Finance Charge Receivables Factor 3.29%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
(xvi) Other
Delinquency
Current 78.8% $1,486,679,111
30 days 13.3% 251,375,128
60 days 3.6% 67,487,323
90 days 1.5% 28,307,089
120 days 1.0% 18,368,987
150 days 0.8% 15,535,934
180 days+ 1.0% 19,066,729
Total 100.000% $1,886,820,301
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 21-Apr-97
12:02 PM
Settlement Statement
- --------------------
Distribution Date: 15-Apr-96
Monthly Period: March, 1996
03-Mar-96
06-Apr-96
(i) Collections 420,657,341
Finance Charge REVISED 42,694,583
Principal REVISED 377,962,758
(ii) Investor Percentage - Principal Collections 06-Apr-96
Series 1992-1 27.01%
A 22.28%
B 2.01%
C 2.72%
Series 1992-2 27.01%
A 22.28%
B 2.01%
C 2.72%
Series 1992-3 1.80%
A 1.49%
B 0.32%
Series 1995-1 32.18%
A 27.03%
B 2.57%
C 2.57%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 06-Apr-96
Series 1992-1 27.01%
A 22.28%
B 2.01%
C 2.72%
Series 1992-2 27.01%
A 22.28%
B 2.01%
C 2.72%
Series 1992-3 1.80%
A 1.49%
B 0.32%
Series 1995-1 32.18%
A 27.03%
B 2.57%
C 2.57%
(iii) Distribution Amount per $1,000 15-Apr-96
Series 1992-1 REVISED 5.845
A 5.875
B 6.292
C REVISED 5.028
Series 1992-2 REVISED 6.154
A 6.208
B 6.625
C REVISED 5.028
Series 1992-3 825.22
A 1,000.26
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Total $'s Distributed
Series 1992-1 REVISED 3,092,139.50
Series 1992-2 REVISED 3,255,639.50
Series 1992-3 747,645,000.00
Series 1995-1 3,370,250.00
(iv) Allocation to Principal per $1,000 15-Apr-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 747,448,937.80
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 747,448,937.80
Series 1995-1 0.00
(v) Allocation to Interest per $1,000 15-Apr-96
Series 1992-1 5.845
A 5.875
B 6.292
C 5.028
Series 1992-2 6.154
A 6.208
B 6.625
C 5.028
Series 1992-3 0.216
A 0.262
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Total $'s Distributed
Series 1992-1 3,092,139.50
Series 1992-2 3,255,639.50
Series 1992-3 196,062.20
Series 1995-1 3,370,250.00
(vi) Investor Default Amount
Series 1992-1 4,952,025.53
A 4,085,080.64
B 367,657.26
C 499,287.63
Series 1992-2 4,952,025.53
A 4,085,080.64
B 367,657.26
C 499,287.63
Series 1992-3 359,366.11
A 296,477.04
B 62,889.07
Series 1995-1 5,900,672.05
A 4,956,564.52
B 472,053.76
C 472,053.76
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 84,821.87
A 69,978.04
B 14,843.83
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 06-Apr-96 2,082,000,762
Principal Receivables in Trust 2,015,584,938
(xi) Invested Amount 06-Apr-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 REVISED 36,412,089.70
A REVISED 30,039,974.00
B REVISED 6,372,115.70
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 10.03%
Finance Charge Receivables Factor 3.19%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
(xvi) Other
Delinquency
Current 77.8% $1,426,903,696
30 days 14.2% 260,888,164
60 days 3.4% 62,654,172
90 days 1.7% 30,808,444
120 days 1.1% 19,367,628
150 days 0.8% 15,342,460
180 days+ 1.0% 19,188,143
Total 100.000% $1,835,152,707
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
12:01 PM
Settlement Statement
- --------------------
Distribution Date: 15-May-96
Monthly Period: April, 1996
07-Apr-96
04-May-96
(i) Collections 302,873,510
Finance Charge REVISED 31,386,542
Principal REVISED 271,486,968
(ii) Investor Percentage - Principal Collections 04-May-96
Series 1992-1 27.37%
A 22.58%
B 2.03%
C 2.76%
Series 1992-2 27.37%
A 22.58%
B 2.03%
C 2.76%
Series 1992-3 1.34%
A 1.10%
B 0.23%
Series 1995-1 32.62%
A 27.40%
B 2.61%
C 2.61%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 04-May-96
Series 1992-1 27.37%
A 22.58%
B 2.03%
C 2.76%
Series 1992-2 27.37%
A 22.58%
B 2.03%
C 2.76%
Series 1992-3 1.34%
A 1.10%
B 0.23%
Series 1995-1 32.62%
A 27.40%
B 2.61%
C 2.61%
(iii) Distribution Amount per $1,000 15-May-96
Series 1992-1 REVISED 5.899
A 5.875
B 6.292
C REVISED 5.762
Series 1992-2 REVISED 6.208
A 6.208
B 6.625
C REVISED 5.762
Series 1992-3 825.19
A 1,000.23
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Total $'s Distributed
Series 1992-1 REVISED 3,120,389.00
Series 1992-2 REVISED 3,283,889.00
Series 1992-3 292,768,000.00
Series 1995-1 3,370,250.00
(iv) Allocation to Principal per $1,000 15-May-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 292,702,102.02
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 292,702,102.02
Series 1995-1 0.00
(v) Allocation to Interest per $1,000 15-May-96
Series 1992-1 5.899
A 5.875
B 6.292
C 5.762
Series 1992-2 6.208
A 6.208
B 6.625
C 5.762
Series 1992-3 0.186
A 0.225
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Total $'s Distributed
Series 1992-1 3,120,389.00
Series 1992-2 3,283,889.00
Series 1992-3 65,897.98
Series 1995-1 3,370,250.00
(vi) Investor Default Amount
Series 1992-1 3,524,813.22
A 2,907,728.60
B 261,695.57
C 355,389.05
Series 1992-2 3,524,813.22
A 2,907,728.60
B 261,695.57
C 355,389.05
Series 1992-3 99,186.56
A 81,828.91
B 17,357.65
Series 1995-1 4,200,052.41
A 3,528,044.02
B 336,004.19
C 336,004.19
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 25,091.55
A 20,700.53
B 4,391.02
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 04-May-96 2,053,541,195
Principal Receivables in Trust 1,988,033,231
(xi) Invested Amount 04-May-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 REVISED 26,668,177.93
A REVISED 22,001,246.79
B REVISED 4,666,931.14
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 9.44%
Finance Charge Receivables Factor 3.19%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
(xvi) Other
Delinquency
Current 79.4% 1,423,878,227
30 days 12.9% 231,978,026
60 days 3.1% 55,070,565
90 days 1.5% 26,949,053
120 days 1.1% 20,378,380
150 days 0.9% 15,327,661
180 days+ 1.1% 19,236,979
Total 100.0% 1,792,818,890
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
11:59 AM
Settlement Statement
- --------------------
Distribution Date: 17-Jun-96
Monthly Period: May, 1996
05-May-96
01-Jun-96
(i) Collections 360,638,478
Finance Charge REVISED 39,427,257
Principal REVISED 321,211,221
(ii) Investor Percentage - Principal Collections 01-Jun-96
Series 1992-1 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-2 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-3 5.24%
A 4.32%
B 0.92%
Series 1995-1 26.76%
A 22.47%
B 2.14%
C 2.14%
Series 1996-1 10.69%
A 8.97%
B 0.86%
C 0.86%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 01-Jun-96
Series 1992-1 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-2 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-3 5.24%
A 4.32%
B 0.92%
Series 1995-1 26.76%
A 22.47%
B 2.14%
C 2.14%
Series 1996-1 10.69%
A 8.97%
B 0.86%
C 0.86%
(iii) Distribution Amount per $1,000 17-Jun-96
Series 1992-1 REVISED 5.873
A 5.875
B 6.292
C REVISED 5.410
Series 1992-2 REVISED 6.182
A 6.208
B 6.625
C REVISED 5.410
Series 1992-3 825.40
A 1,000.48
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 REVISED 5.781
A REVISED 5.769
B REVISED 5.899
C 0.000
Total $'s Distributed
Series 1992-1 3,106,839.00
Series 1992-2 3,270,339.00
Series 1992-3 157,078,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,380,430.00
(iv) Allocation to Principal per $1,000 17-Jun-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 157,002,289.47
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 157,002,289.47
Series 1995-1 0.00
Series 1996-1 0.00
(v) Allocation to Interest per $1,000 17-Jun-96
Series 1992-1 5.873
A 5.875
B 6.292
C 5.410
Series 1992-2 6.182
A 6.208
B 6.625
C 5.410
Series 1992-3 0.398
A 0.482
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.781
A 5.769
B 5.899
C 0.000
Total $'s Distributed
Series 1992-1 3,106,839.00
Series 1992-2 3,270,339.00
Series 1992-3 75,710.53
Series 1995-1 3,370,250.00
Series 1996-1 1,380,430.00
(vi) Investor Default Amount
Series 1992-1 3,748,731.32
A 3,092,445.64
B 278,320.11
C 377,965.58
Series 1992-2 3,748,731.32
A 3,092,445.64
B 278,320.11
C 377,965.58
Series 1992-3 523,861.37
A 432,185.63
B 91,675.74
Series 1995-1 4,466,865.91
A 3,752,167.36
B 357,349.27
C 357,349.27
Series 1996-1 1,221,800.72
A 1,026,011.39
B 97,894.66
C 97,894.66
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 85,580.19
A 70,603.66
B 14,976.53
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 REVISED 274,022.00
A REVISED 230,110.92
B REVISED 21,955.54
C REVISED 21,955.54
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 01-Jun-96 REVISED 2,507,542,987
Principal Receivables in Trust REVISED 2,430,310,663
(xi) Invested Amount 01-Jun-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 127,273,476.23
A 105,000,617.89
B 22,272,858.34
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 11.06%
Finance Charge Receivables Factor 3.08%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvi) Other
Delinquency
Current 76.6% $1,515,251,507
30 days 15.2% 300,621,798
60 days 3.3% 65,938,004
90 days 1.5% 30,609,125
120 days 1.1% 22,142,150
150 days 1.0% 19,711,072
180 days+ 1.2% 23,235,075
Total 100.000% $1,977,508,731
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
11:59 AM
Settlement Statement
- --------------------
Distribution Date: 17-Jun-96
Monthly Period: May, 1996
05-May-96
01-Jun-96
(i) Collections 360,638,478
Finance Charge REVISED 39,427,257
Principal REVISED 321,211,221
(ii) Investor Percentage - Principal Collections 01-Jun-96
Series 1992-1 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-2 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-3 5.24%
A 4.32%
B 0.92%
Series 1995-1 26.76%
A 22.47%
B 2.14%
C 2.14%
Series 1996-1 10.69%
A 8.97%
B 0.86%
C 0.86%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 01-Jun-96
Series 1992-1 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-2 22.45%
A 18.52%
B 1.67%
C 2.26%
Series 1992-3 5.24%
A 4.32%
B 0.92%
Series 1995-1 26.76%
A 22.47%
B 2.14%
C 2.14%
Series 1996-1 10.69%
A 8.97%
B 0.86%
C 0.86%
(iii) Distribution Amount per $1,000 17-Jun-96
Series 1992-1 REVISED 5.873
A 5.875
B 6.292
C REVISED 5.410
Series 1992-2 REVISED 6.182
A 6.208
B 6.625
C REVISED 5.410
Series 1992-3 825.40
A 1,000.48
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 REVISED 5.781
A REVISED 5.769
B REVISED 5.899
C 0.000
Total $'s Distributed
Series 1992-1 3,106,839.00
Series 1992-2 3,270,339.00
Series 1992-3 157,078,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,380,430.00
(iv) Allocation to Principal per $1,000 17-Jun-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 157,002,289.47
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 157,002,289.47
Series 1995-1 0.00
Series 1996-1 0.00
(v) Allocation to Interest per $1,000 17-Jun-96
Series 1992-1 5.873
A 5.875
B 6.292
C 5.410
Series 1992-2 6.182
A 6.208
B 6.625
C 5.410
Series 1992-3 0.398
A 0.482
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.781
A 5.769
B 5.899
C 0.000
Total $'s Distributed
Series 1992-1 3,106,839.00
Series 1992-2 3,270,339.00
Series 1992-3 75,710.53
Series 1995-1 3,370,250.00
Series 1996-1 1,380,430.00
(vi) Investor Default Amount
Series 1992-1 3,748,731.32
A 3,092,445.64
B 278,320.11
C 377,965.58
Series 1992-2 3,748,731.32
A 3,092,445.64
B 278,320.11
C 377,965.58
Series 1992-3 523,861.37
A 432,185.63
B 91,675.74
Series 1995-1 4,466,865.91
A 3,752,167.36
B 357,349.27
C 357,349.27
Series 1996-1 1,221,800.72
A 1,026,011.39
B 97,894.66
C 97,894.66
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 85,580.19
A 70,603.66
B 14,976.53
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 REVISED 274,022.00
A REVISED 230,110.92
B REVISED 21,955.54
C REVISED 21,955.54
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 01-Jun-96 REVISED 2,507,542,987
Principal Receivables in Trust REVISED 2,430,310,663
(xi) Invested Amount 01-Jun-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 127,273,476.23
A 105,000,617.89
B 22,272,858.34
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 11.06%
Finance Charge Receivables Factor 3.08%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvi) Other
Delinquency
Current 76.6% $1,515,251,507
30 days 15.2% 300,621,798
60 days 3.3% 65,938,004
90 days 1.5% 30,609,125
120 days 1.1% 22,142,150
150 days 1.0% 19,711,072
180 days+ 1.2% 23,235,075
Total 100.000% $1,977,508,731
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
11:10 AM
Settlement Statement
- -------------------
Distribution Date: 15-Aug-96
Monthly Period: July, 1996
07-Jul-96
03-Aug-96
(i) Collections 360,767,108
Finance Charge REVISED 41,092,415
Principal REVISED 319,674,693
(ii) Investor Percentage - Principal Collections 03-Aug-96
Series 1992-1 23.58%
A 19.45%
B 1.75%
C 2.38%
Series 1992-2 23.58%
A 19.45%
B 1.75%
C 2.38%
Series 1992-3 REVISED 1.21%
A REVISED 1.00%
B REVISED 0.21%
Series 1995-1 28.10%
A 23.60%
B 2.25%
C 2.25%
Series 1996-1 11.22%
A 9.42%
B 0.90%
C 0.90%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 03-Aug-96
Series 1992-1 23.58%
A 19.45%
B 1.75%
C 2.38%
Series 1992-2 23.58%
A 19.45%
B 1.75%
C 2.38%
Series 1992-3 1.21%
A 1.00%
B 0.21%
Series 1995-1 28.10%
A 23.60%
B 2.25%
C 2.25%
Series 1996-1 11.22%
A 9.42%
B 0.90%
C 0.90%
(iii) Distribution Amount per $1,000 15-Aug-96
Series 1992-1 REVISED 5.904
A 5.875
B 6.292
C REVISED 5.831
Series 1992-2 REVISED 6.213
A 6.208
B 6.625
C REVISED 5.831
Series 1992-3 826.00
A 1,001.21
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,123,045.00
Series 1992-2 3,286,545.00
Series 1992-3 273,141,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(iv) Allocation to Principal per $1,000 15-Aug-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 272,811,462.61
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 272,811,462.61
Series 1995-1 0.00
Series 1996-1 0.00
(v) Allocation to Interest per $1,000 15-Aug-96
Series 1992-1 5.904
A 5.875
B 6.292
C 5.831
Series 1992-2 6.213
A 6.208
B 6.625
C 5.831
Series 1992-3 0.997
A 1.208
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,123,045.00
Series 1992-2 3,286,545.00
Series 1992-3 329,537.39
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vi) Investor Default Amount
Series 1992-1 4,099,160.93
A 3,381,525.97
B 304,337.34
C 413,297.62
Series 1992-2 4,099,160.93
A 3,381,525.97
B 304,337.34
C 413,297.62
Series 1992-3 555,757.82
A 458,500.20
B 97,257.62
Series 1995-1 4,884,426.42
A 4,102,918.19
B 390,754.11
C 390,754.11
Series 1996-1 1,950,764.77
A 1,638,161.48
B 156,301.65
C 156,301.65
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 141,661.94
A 116,871.10
B 24,790.84
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 03-Aug-96 2,387,795,210
Principal Receivables in Trust 2,313,534,779
(xi) Invested Amount 03-Aug-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 27,913,480.25
A 23,028,621.21
B 4,884,859.04
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 10.54%
Finance Charge Receivables Factor 3.11%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvi) Other
Delinquency
Current 75.4% $1,766,397,936
30 days 15.3% 358,482,776
60 days 3.8% 88,811,909
90 days 1.8% 42,321,413
120 days 1.2% 28,660,124
150 days 1.0% 23,504,731
180 days+ 1.5% 34,103,924
Total 100.000% $2,342,282,813
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
11:09 AM
Settlement Statement
- -------------------
Distribution Date: 16-Sep-96
Monthly Period: August, 1996
04-Aug-96
31-Aug-96
(i) Collections 344,997,060
Finance Charge REVISED 39,223,903
Principal REVISED 305,773,157
(ii) Investor Percentage - Principal Collections 31-Aug-96
Series 1992-1 23.50%
A 19.39%
B 1.75%
C 2.37%
Series 1992-2 23.50%
A 19.39%
B 1.75%
C 2.37%
Series 1992-3 1.31%
A 1.08%
B 0.23%
Series 1995-1 28.01%
A 23.53%
B 2.24%
C 2.24%
Series 1996-1 11.19%
A 9.39%
B 0.90%
C 0.90%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 31-Aug-96
Series 1992-1 23.50%
A 19.39%
B 1.75%
C 2.37%
Series 1992-2 23.50%
A 19.39%
B 1.75%
C 2.37%
Series 1992-3 1.31%
A 1.08%
B 0.23%
Series 1995-1 28.01%
A 23.53%
B 2.24%
C 2.24%
Series 1996-1 11.19%
A 9.39%
B 0.90%
C 0.90%
(iii) Distribution Amount per $1,000 16-Sep-96
Series 1992-1 REVISED 5.838
A 5.875
B 6.292
C REVISED 4.932
Series 1992-2 REVISED 6.147
A 6.208
B 6.625
C REVISED 4.932
Series 1992-3 825.52
A 1,000.63
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,088,458.00
Series 1992-2 3,251,958.00
Series 1992-3 111,147,455.80
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(iv) Allocation to Principal per $1,000 16-Sep-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 111,077,658.09
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 111,077,658.09
Series 1995-1 0.00
Series 1996-1 0.00
(v) Allocation to Interest per $1,000 16-Sep-96
Series 1992-1 5.838
A 5.875
B 6.292
C 4.932
Series 1992-2 6.147
A 6.208
B 6.625
C 4.932
Series 1992-3 0.518
A 0.628
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,088,458.00
Series 1992-2 3,251,958.00
Series 1992-3 69,797.71
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vi) Investor Default Amount
Series 1992-1 4,180,689.86
A 3,448,781.74
B 310,390.36
C 421,517.77
Series 1992-2 4,180,689.86
A 3,448,781.74
B 310,390.36
C 421,517.77
Series 1992-3 147,925.91
A 122,038.88
B 25,887.03
Series 1995-1 4,981,573.61
A 4,184,521.83
B 398,525.89
C 398,525.89
Series 1996-1 1,989,563.85
A 1,670,743.14
B 159,410.35
C 159,410.35
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 30,649.10
A 25,285.51
B 5,363.59
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 31-Aug-96 REVISED 2,401,263,982
Principal Receivables in Trust REVISED 2,323,943,282
(xi) Invested Amount 31-Aug-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 30,303,838.87
A 25,000,667.07
B 5,303,171.80
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor REVISED 11.01%
Finance Charge Receivables Factor 3.22%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvi) Other
Delinquency
Current 76.3% $1,763,328,829
30 days 14.4% 332,567,592
60 days 3.8% 86,869,274
90 days 1.8% 41,859,444
120 days 1.3% 29,886,193
150 days 1.0% 24,173,801
180 days+ 1.4% 32,437,645
Total 100.000% $2,311,122,778
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
11:08 AM
Settlement Statement
- -------------------
Distribution Date: 15-Oct-96
Monthly Period: September 1996
01-Sep-96
05-Oct-96
(i) Collections 427,504,366
Finance Charge REVISED 48,646,496
Principal REVISED 378,857,870
(ii) Investor Percentage - Principal Collections 05-Oct-96
Series 1992-1 23.13%
A 19.08%
B 1.72%
C 2.33%
Series 1992-2 23.13%
A 19.08%
B 1.72%
C 2.33%
Series 1992-3 1.59%
A 1.31%
B 0.28%
Series 1995-1 27.56%
A 23.15%
B 2.20%
C 2.20%
Series 1996-1 11.01%
A 9.24%
B 0.88%
C 0.88%
Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 05-Oct-96
Series 1992-1 23.13%
A 19.08%
B 1.72%
C 2.33%
Series 1992-2 23.13%
A 19.08%
B 1.72%
C 2.33%
Series 1992-3 1.59%
A 1.31%
B 0.28%
Series 1995-1 27.56%
A 23.15%
B 2.20%
C 2.20%
Series 1996-1 11.01%
A 9.24%
B 0.88%
C 0.88%
(iii) Distribution Amount per $1,000 15-Oct-96
Series 1992-1 REVISED 5.864
A 5.875
B 6.292
C REVISED 5.289
Series 1992-2 REVISED 6.173
A 6.208
B 6.625
C REVISED 5.289
Series 1992-3 825.84
A 1,001.02
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,102,199.00
Series 1992-2 3,265,699.00
Series 1992-3 170,140,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(iv) Allocation to Principal per $1,000 15-Oct-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 169,966,168.62
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 169,966,168.62
Series 1995-1 0.00
Series 1996-1 0.00
(v) Allocation to Interest per $1,000 15-Oct-96
Series 1992-1 5.864
A 5.875
B 6.292
C 5.289
Series 1992-2 6.173
A 6.208
B 6.625
C 5.289
Series 1992-3 0.844
A 1.023
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,102,199.00
Series 1992-2 3,265,699.00
Series 1992-3 173,831.38
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vi) Investor Default Amount
Series 1992-1 5,153,865.62
A 4,251,584.84
B 382,642.64
C 519,638.15
Series 1992-2 5,153,865.62
A 4,251,584.84
B 382,642.64
C 519,638.15
Series 1992-3 353,159.13
A 291,356.28
B 61,802.85
Series 1995-1 6,141,178.08
A 5,158,589.59
B 491,294.25
C 491,294.25
Series 1996-1 2,452,692.02
A 2,059,656.63
B 196,517.70
C 196,517.70
(vii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(viii) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 65,690.91
A 54,195.00
B 11,495.91
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(ix) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(x) Receivables in Trust 05-Oct-96 2,429,787,657
Principal Receivables in Trust 2,352,763,388
(xi) Invested Amount 05-Oct-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 37,580,859.89
A 31,004,209.41
B 6,576,650.48
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xii) Enhancement NA
(xiii) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xiv) Yield Factor 10.73%
Finance Charge Receivables Factor 3.17%
(xv) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvi) Other
Delinquency
Current 75.5% $1,746,025,656
30 days 15.4% 355,408,453
60 days 3.6% 82,606,178
90 days 1.8% 42,756,939
120 days 1.3% 29,963,037
150 days 1.1% 25,779,354
180 days+ 1.3% 31,190,682
Total 100.000% $2,313,730,299
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 18-Apr-97
10:57 AM
Settlement Statement
- -------------------
Distribution Date: 15-Nov-96
Monthly Period: October 1996
06-Oct-96
02-Nov-96
(i) Collections 360,175,635
Finance Charge REVISED 40,884,201
Principal REVISED 319,291,434
(ii) Investor Percentage - Principal Collections 02-Nov-96
Series 1992-1 23.38%
A 19.29%
B 1.74%
C 2.36%
Series 1992-2 23.38%
A 19.29%
B 1.74%
C 2.36%
Series 1992-3 3.01%
A 2.48%
B 0.53%
Series 1995-1 27.86%
A 23.40%
B 2.23%
C 2.23%
Series 1996-1 11.13%
A 9.34%
B 0.89%
C 0.89%
(iii) Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 02-Nov-96
Series 1992-1 23.38%
A 19.29%
B 1.74%
C 2.36%
Series 1992-2 23.38%
A 19.29%
B 1.74%
C 2.36%
Series 1992-3 3.01%
A 2.48%
B 0.53%
Series 1995-1 27.86%
A 23.40%
B 2.23%
C 2.23%
Series 1996-1 11.13%
A 9.34%
B 0.89%
C 0.89%
(iv) Distribution Amount per $1,000 15-Nov-96
Series 1992-1 5.912
A 5.875
B 6.292
C 5.942
Series 1992-2 6.221
A 6.208
B 6.625
C 5.942
Series 1992-3 825.94
A 1,001.14
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,127,317.64
Series 1992-2 3,290,817.64
Series 1992-3 146,504,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 15-Nov-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 146,337,055.45
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 146,337,055.45
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 15-Nov-96
Series 1992-1 5.912
A 5.875
B 6.292
C 5.942
Series 1992-2 6.221
A 6.208
B 6.625
C 5.942
Series 1992-3 0.941
A 1.141
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,127,317.64
Series 1992-2 3,290,817.64
Series 1992-3 166,944.55
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 4,249,997.03
A 3,505,955.39
B 315,535.98
C 428,505.66
Series 1992-2 4,249,997.03
A 3,505,955.39
B 315,535.98
C 428,505.66
Series 1992-3 376,063.94
A 310,252.75
B 65,811.19
Series 1995-1 5,064,157.79
A 4,253,892.54
B 405,132.62
C 405,132.62
Series 1996-1 2,022,546.70
A 1,698,440.60
B 162,053.05
C 162,053.05
(viii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(xi) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 62,550.79
A 51,604.40
B 10,946.39
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(x) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(xi) Receivables in Trust 02-Nov-96 2,406,239,613
Principal Receivables in Trust 2,328,758,697
(xii) Invested Amount 02-Nov-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 54,444,634.61
A 44,916,823.55
B 9,527,811.06
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xiii) Enhancement NA
(xiv) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xv) Yield Factor 10.65%
Finance Charge Receivables Factor 3.22%
(xvi) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvii) Other
Delinquency
Current 75.8% $1,756,803,034
30 days 15.1% 350,820,185
4 60 days 3.5% 82,110,549
90 days 1.7% 39,381,251
120 days 1.3% 30,383,832
150 days 1.1% 25,743,220
180 days+ 1.4% 33,178,261
Total 100.000% $2,318,420,332
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 21-Apr-97
10:56 AM
Settlement Statement
- ---------------------
Distribution Date: 16-Dec-96
Monthly Period: November 1996
03-Nov-96
30-Nov-96
(i) Collections 367,226,849
Finance Charge REVISED 42,172,057
Principal REVISED 325,054,792
(ii) Investor Percentage - Principal Collections 30-Nov-96
Series 1992-1 22.65%
A 18.68%
B 1.68%
C 2.28%
Series 1992-2 22.65%
A 18.68%
B 1.68%
C 2.28%
Series 1992-3 0.00%
A 0.00%
B 0.00%
Series 1995-1 26.99%
A 22.67%
B 2.16%
C 2.16%
Series 1996-1 10.78%
A 9.05%
B 0.86%
C 0.86%
(iii) Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 30-Nov-96
Series 1992-1 22.65%
A 18.68%
B 1.68%
C 2.28%
Series 1992-2 22.65%
A 18.68%
B 1.68%
C 2.28%
Series 1992-3 0.00%
A 0.00%
B 0.00%
Series 1995-1 26.99%
A 22.67%
B 2.16%
C 2.16%
Series 1996-1 10.78%
A 9.05%
B 0.86%
C 0.86%
(iv) Distribution Amount per $1,000 16-Dec-96
Series 1992-1 5.848
A 5.875
B 6.292
C 5.067
Series 1992-2 6.157
A 6.208
B 6.625
C 5.067
Series 1992-3 825.46
A 1,000.55
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,093,636.84
Series 1992-2 3,257,136.84
Series 1992-3 109,979,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 16-Dec-96
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 109,918,367.12
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 109,918,367.12
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 16-Dec-96
Series 1992-1 5.848
A 5.875
B 6.292
C 5.067
Series 1992-2 6.157
A 6.208
B 6.625
C 5.067
Series 1992-3 0.455
A 0.552
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distribute
Series 1992-1 3,093,636.84
Series 1992-2 3,257,136.84
Series 1992-3 60,632.88
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 4,098,755.13
A 3,381,191.22
B 304,307.21
C 413,256.70
Series 1992-2 4,098,755.13
A 3,381,191.22
B 304,307.21
C 413,256.70
Series 1992-3 95,547.52
A 78,826.70
B 16,720.82
Series 1995-1 4,883,942.85
A 4,102,511.99
B 390,715.43
C 390,715.43
Series 1996-1 1,950,571.62
A 1,637,999.28
B 156,286.17
C 156,286.17
(viii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(ix) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 22,245.43
A 18,352.48
B 3,892.95
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(x) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(xi) Receivables in Trust 30-Nov-96 2,510,476,611
Principal Receivables in Trust 2,429,137,169
(xii) Invested Amount 30-Nov-96
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xiii) Enhancement NA
(xiv) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xv) Yield Factor 11.02%
Finance Charge Receivables Factor 3.24%
(xvi) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvii) Other
Delinquency
Current 78.1% $1,830,543,100
30 days 13.1% 307,856,139
60 days 3.3% 78,300,314
90 days 1.7% 38,945,467
120 days 1.2% 28,039,042
150 days 1.1% 25,466,556
180 days+ 1.5% 34,603,460
Total 100.000% $2,343,754,078
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 21-Apr-97
10:01 AM
Settlement Statement
- --------------------
Distribution Date: 15-Jan-97
Monthly Period: December 1996
01-Dec-96
04-Jan-97
(i) Collections 497,739,387
Finance Charge REVISED 55,731,484
Principal REVISED 442,007,903
(ii) Investor Percentage - Principal Collections 04-Jan-97
Series 1992-1 19.82%
A 16.35%
B 1.47%
C 2.00%
Series 1992-2 19.82%
A 16.35%
B 1.47%
C 2.00%
Series 1992-3 6.17%
A 5.09%
B 1.08%
Series 1995-1 23.62%
A 19.84%
B 1.89%
C 1.89%
Series 1996-1 9.43%
A 7.92%
B 0.76%
C 0.76%
(iii) Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 04-Jan-97
Series 1992-1 19.82%
A 16.35%
B 1.47%
C 2.00%
Series 1992-2 19.82%
A 16.35%
B 1.47%
C 2.00%
Series 1992-3 6.17%
A 5.09%
B 1.08%
Series 1995-1 23.62%
A 19.84%
B 1.89%
C 1.89%
Series 1996-1 9.43%
A 7.92%
B 0.76%
C 0.76%
(iv) Distribution Amount per $1,000 15-Jan-97
Series 1992-1 5.891
A 5.875
B 6.292
C 5.658
Series 1992-2 6.200
A 6.208
B 6.625
C 5.658
Series 1992-3 825.19
A 1,000.23
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,116,383.49
Series 1992-2 3,279,883.49
Series 1992-3 326,283,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 15-Jan-97
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 326,206,570.59
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 326,206,570.59
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 15-Jan-97
Series 1992-1 5.891
A 5.875
B 6.292
C 5.658
Series 1992-2 6.200
A 6.208
B 6.625
C 5.658
Series 1992-3 0.193
A 0.234
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,116,383.49
Series 1992-2 3,279,883.49
Series 1992-3 76,429.41
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 4,708,315.18
A 3,884,036.35
B 349,563.27
C 474,715.55
Series 1992-2 4,708,315.18
A 3,884,036.35
B 349,563.27
C 474,715.55
Series 1992-3 992,624.43
A 818,915.15
B 173,709.28
Series 1995-1 5,610,274.72
A 4,712,630.76
B 448,821.98
C 448,821.98
Series 1996-1 2,240,657.38
A 1,881,599.80
B 179,528.79
C 179,528.79
(viii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(x) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 175,121.66
A 144,475.37
B 30,646.29
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(x) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(xi) Receivables in Trust 04-Jan-97 2,831,452,586
Principal Receivables in Trust 2,743,111,265
(xii) Invested Amount 04-Jan-97
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 REVISED 169,713,905.45
A REVISED 140,013,972.00
B REVISED 29,699,933.45
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xiii) Enhancement NA
(xiv) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xv) Yield Factor 10.42%
Finance Charge Receivables Factor 3.12%
(xvi) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvii) Other
Delinquency
Current 78.9% $2,047,785,925
30 days 13.2% 343,251,825
60 days 2.9% 76,326,838
90 days 1.5% 38,553,330
120 days 1.1% 28,797,111
150 days 0.9% 24,392,646
180 days+ 1.3% 34,959,261
Total 100.000% $2,594,066,936
Balance in Pre-Funding Account 0.00
Prime Credit Card Master Trust 21-Apr-97
12:04 PM
Settlement Statement
- ---------------------
Distribution Date: 18-Feb-97
Monthly Period: January 1997
05-Jan-97
01-Feb-97
(i) Collections 516,863,352
Finance Charge REVISED 55,540,327
Principal REVISED 461,323,025
(ii) Investor Percentage - Principal Collections 01-Feb-97
Series 1992-1 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-2 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-3 4.67%
A 3.86%
B 0.82%
Series 1995-1 26.11%
A 21.94%
B 2.09%
C 2.09%
Series 1996-1 10.43%
A 8.76%
B 0.84%
C 0.84%
(iii) Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 01-Feb-97
Series 1992-1 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-2 21.92%
A 18.08%
B 1.63%
C 2.21%
Series 1992-3 4.67%
A 3.86%
B 0.82%
Series 1995-1 26.11%
A 21.94%
B 2.09%
C 2.09%
Series 1996-1 10.43%
A 8.76%
B 0.84%
C 0.84%
(iv) Distribution Amount per $1,000 18-Feb-97
Series 1992-1 5.877
A 5.875
B 6.292
C 5.466
Series 1992-2 6.186
A 6.208
B 6.625
C 5.466
Series 1992-3 826.08
A 1,001.31
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,108,990.54
Series 1992-2 3,272,490.54
Series 1992-3 774,155,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 18-Feb-97
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 825.00
A 1,000.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 773,140,794.75
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 773,140,794.75
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 18-Feb-97
Series 1992-1 5.877
A 5.875
B 6.292
C 5.466
Series 1992-2 6.186
A 6.208
B 6.625
C 5.466
Series 1992-3 1.082
A 1.312
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,108,990.54
Series 1992-2 3,272,490.54
Series 1992-3 1,014,205.25
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 4,197,626.40
A 3,462,753.22
B 311,647.79
C 423,225.39
Series 1992-2 4,197,626.40
A 3,462,753.22
B 311,647.79
C 423,225.39
Series 1992-3 1,649,058.27
A 1,360,473.07
B 288,585.20
Series 1995-1 5,001,754.65
A 4,201,473.91
B 400,140.37
C 400,140.37
Series 1996-1 1,997,623.85
A 1,677,511.55
B 160,056.15
C 160,056.15
(viii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(ix) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 311,576.15
A 257,050.32
B 54,525.83
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(x) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(xi) Receivables in Trust 01-Feb-97 2,551,014,278
Principal Receivables in Trust 2,476,524,661
(xii) Invested Amount 01-Feb-97
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 176,971,996.06
A 146,001,896.75
B 30,970,099.31
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xiii) Enhancement NA
(xiv) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xv) Yield Factor REVISED 10.24%
Finance Charge Receivables Factor 2.92%
(xvi) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvii) Other
Delinquency
Current 75.5% $1,947,562,753
30 days 16.2% 416,833,506
60 days 3.3% 85,876,210
90 days 1.5% 39,768,324
120 days 1.1% 29,057,463
150 days 1.0% 25,501,994
180 days+ 1.3% 34,347,221
Total 100.000% $2,578,947,471
Balance in Pre-Funding Account 0.00
Independent Auditor's Report
The Board of Directors
Federated Department Stores, Inc.
The Board of Directors
Prime Receivables Corporation:
We have examined management's assertion, included in the
accompanying Management Report on the Effectiveness of the
Internal Accounting Control Structure over the Servicing of
Accounts Receivable, that as of August 3, 1996, Federated
Department Stores, Inc. and subsidiaries ("Federated"), as
Servicer under the Amended and Restated Pooling and Servicing
Agreement dated December 15, 1992, between Prime Receivables
Corporation ("Prime"), as Transferor, Federated, as Servicer, and
Chemical Bank, as Trustee, (the "Pooling and Servicing
Agreement") maintained an effective internal accounting control
structure over the servicing of accounts receivable of Prime.
Our examination was made in accordance with standards established
by the American Institute of Certified Public Accountants and,
accordingly, included obtaining an understanding of the internal
accounting control structure over the servicing of accounts
receivable, testing and evaluating the design and operating
effectiveness of the internal control structure, and such other
procedures as we considered necessary in the circumstances. We
believe that our examination provides a reasonable basis for our
opinion.
Because of inherent limitations in any internal accounting
control structure, errors or irregularities may occur and may not
be detected. Also, projections of any evaluation of the internal
accounting control structure over the servicing of accounts
receivable to future periods are subject to the risk that the
internal accounting control structure may become inadequate
because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
In our opinion, management's assertion that Federated maintained
an effective internal accounting control structure over the
servicing of accounts receivable of Prime as of August 3, 1996,
is fairly stated, in all material respects, based upon criteria
stated in the Pooling and Servicing Agreement.
This report is intended solely for the information and use of the
boards of directors and managements of Federated and Prime,
Investor Certificateholders, Chemical Bank, as Trustee, Moody's
Investor Services, Inc. and Standard and Poor's Corporation, as
the Rating Agencies, and should not be used for any other
purpose.
KPMG Peat Marwick LLP
November 1, 1996
Management Report on Effectiveness of Internal
Accounting Control Structure
Over the Servicing of Accounts Receivable
Management of Federated Department Stores, Inc., and subsidiaries
("Federated") is responsible for establishing and maintaining an
effective internal accounting control structure over the
servicing of accounts receivable of Prime Receivables Corporation
("Prime"), a wholly-owned subsidiary of Federated. The structure
contains monitoring mechanisms, and actions are taken to correct
deficiencies identified.
There are inherent limitations in the effectiveness of any
internal accounting control structure, including the possibility
of human error and the circumvention or overriding of controls.
Accordingly, even an effective internal accounting control
structure can provide only reasonable assurance with respect to
the servicing of accounts receivable and the preparation of
reports relating to the servicing of accounts receivable as
required by the Amended and Restated Pooling and Servicing
Agreement dated December 15, 1992 between Prime, as Transferor,
Federated, as Servicer, and Chemical Bank, as Trustee (the
"Pooling and Servicing Agreement"). Further, because of changes
in conditions, the effectiveness of an internal accounting
control structure may vary over time.
Management assessed Federated's internal accounting control
structure over the servicing of accounts receivable of Prime as
of August 3, 1996. This assessment was based on criteria for
effective internal accounting control over the servicing of
accounts receivable of Prime described in the Pooling and
Servicing Agreement. Based on this assessment, management
believes that, as of August 3, 1996, Federated maintained an
effective internal accounting control structure over the
servicing of accounts receivable of Prime.
November 1, 1996
/s/ James J. Amann
James J. Amann, Chairman & CEO
/s/ William A. Lambert
William A. Lambert, Vice President - Finance
The Board of Directors
Prime Receivables Corporation:
We have applied certain agreed-upon procedures, as discussed
below, to the accounting records of Prime Receivables Corporation
("Prime"), a wholly-owned special-purpose finance subsidiary of
Federated Department Stores, Inc. ("Federated"), relating to the
servicing procedures performed by FDS National Bank, as Servicer,
under the Amended and Restated Pooling and Servicing Agreement
(the "Agreement") dated December 15, 1992 between Prime, as
Transferor, Federated and The Chase Manhattan Bank, successor to
Chemical Bank, as Trustee, on behalf of the Certificateholders of
Prime Credit Card Master Trust and under the Assumption Agreement
dated September 15, 1993 between Prime, Federated, FDS National
Bank and The Chase Manhattan Bank, successor to Chemical Bank.
This agreed-upon procedures engagement was performed in accordance
with standards established by the American Institute of Certified
Public Accountants. The sufficiency of these procedures is
solely the responsibility of the specified users of the report.
Consequently, we make no representations regarding the sufficiency
of the procedures described below either for the purpose for which
this report has been requested or for any other purpose. Our
procedures and findings are as follows:
In accordance with section 3.06(b) of the
Agreement, we recalculated each amount set
forth in items (i) through (xvi) of each
monthly certificate prepared by the Servicer,
pursuant to section 3.04(c) of the Agreement,
during the period from February 3, 1996 to
February 1, 1997, (the "Certificates") from
information in the Transferor's computer
generated Daily Cash Allocation Reports, the
Agreement, the Series 1992-1 Supplement to
the Agreement dated December 15, 1992, the
Series 1992-2 Supplement to the Agreement
dated December 15, 1992, the Series 1992-3
Supplement to the Agreement dated December
31, 1992, the Series 1995-1 Supplement to the
Agreement dated July 27, 1995, or the Series
1996-1 Supplement to the Agreement dated May
14, 1996, as appropriate. We found such
recalculated amounts to be in agreement with
the amounts set forth in items (i) through
(xvi) of the Certificates, as amended.
We were not engaged to, and did not, perform an examination, the
objective of which would be the expression of an opinion on
management's assertion. Accordingly, we do not express such an
opinion. Had we performed additional procedures, other matters
might have come to our attention that would have been reported to
you.
This report is intended solely for your information and is not to
be referred to or distributed for any purpose to anyone other than
The Chase Manhattan Bank, as Trustee, Moody's Investor Services,
Inc. and Standard & Poor's Corporation, as the Rating Agencies,
Investor Certificateholders or the management of Prime.
KPMG Peat Marwick LLP
April 4, 1997
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