UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 16, 1996
NATIONSBANK OF DELAWARE, N.A.
-----------------------------
(Exact name of registrant as specified in its charter)
(Originator of the NationsBank Credit Card Master Trust)
United States 33-69572 51-0313900
------------- -------- ----------
(State or other (Commission File (I.R.S. employer
Jurisdiction of Number) Identification No.)
Incorporation
Blue Hen Corporate Center, Route 113
Dover, Delaware 19901
(Address of principal executive offices)
----------------------------------------
Registrant's telephone number including area code: (302) 672-4321
<PAGE>
Item 5. Other Events
------------
The Registrant hereby incorporates by reference the information
contained in Exhibit 28 hereto in response to this Item 5.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
-----------------------------------------------------------------
(c) Exhibits
99A Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$750,000,000 Class A 4.75% Asset Backed
Certificates, Series 1993-1
99B Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$47,873,000 Class B 4.875% Asset Backed
Certificates, Series 1993-1
99C Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$500,000,000 Class A 6.0% Asset Backed
Certificates, Series 1993-2
99D Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$31,915,000 Class B 6.25% Asset Backed
Certificates, Series 1993-2
99E Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$1,000,000,000 Class A 6.45% Asset Backed
Certificates, Series 1995-1
99F Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$51,137,000 Class B 6.625% Asset Backed
Certificates, Series 1995-1
99G Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$85,228,000 Collateral Indebtedness
Interest, Series 1995-1
<PAGE>
99H Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$756,000,000 Class A 5.65% Asset Backed
Certificates, Series 1996-1
99I Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$58,500,000 Class 5.78% Asset Backed
Certificates, Series 1996-1
99J Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$85,500,000 Collateral Indebtedness
Interest, Series 1996-1
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
NATIONSBANK OF DELAWARE, N.A.
-----------------------------
(Registrant)
Dated: By: /s/ Leslie J. Fitzpatrick
---------------------------
Name: Leslie J.Fitzpatrick
Title: Senior Vice President
(Duly Authorized Officer)
<PAGE>
Sequentially
Exhibit Numbered
Number Exhibit Page
- ------- ------- -------------
99A Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust A & B
$750,000,000 Class A 4.75% Asset Backed 6 - 11
Certificates, Series 1993-1
99B Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust A & B
$47,873,000 Class B 4.875% Asset Backed 6 - 11
Certificates, Series 1993-1
99C Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust C & D
$500,000,000 Class A 6.0% Asset Backed 12 - 17
Certificates, Series 1993-2
99D Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust C & D
$31,915,000 Class B 6.25% Asset Backed 12 - 17
Certificates, Series 1993-2
99E Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust E,F,&G
$1,000,000,000 Class A 6.45% Asset Backed 18 - 23
Certificates, Series 1995-1
99F Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust E,F,&G
$51,137,000 Class B 6.625% Asset Backed 18 - 23
Certificates, Series 1995-1
99G Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust E,F,&G
$85,228,000 Collateral Indebtedness 18 - 23
Interest, Series 1995-1
<PAGE>
99H Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust H,I,& J
$756,000,000 Class A 5.65% Asset Backed 24 - 30
Certificates, Series 1996-1
99I Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust H,I & J
$58,500,000 Class B 5.78% Asset Backed 24 - 30
Certificates, Series 1996-1
99J Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust H,I & J
$85,500,000 Collateral Indebtedness 24 - 30
Interest, Series 1996-1
<PAGE>
<TABLE> Exhibit 99 A & B
MONTHLY CERTIFICATEHOLDERS STATEMENT
NATIONSBANK OF DELAWARE, N/A
NATIONSBANK CREDIT CARD MASTER TRUST
SERIES 1993-1
- --------------------------------------------------------------------------------
Pursuant to the Master Pooling and Servicing Agreement, dated as of December 1,
1993 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 1993-1 Supplement, dated as of December 1, 1993
(the "Supplement" and, together with the Pooling and Servicing Agreement, the
"Agreement"), each between NationsBank of Delaware, N.A. as Transferor and
Servicer, and The Bank of New York, as Trustee, the Servicer is required to
prepare certain information each month regarding distributions to
Certificateholders and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below.
<CAPTION>
Due Period Aug-96
Determination Date 09-Sep-96
Transfer Date 13-Sep-96
Distribution Date 16-Sep-96
Amortization Period? Yes
Class A Accumulation Period? Yes
Class B Accumulation Period? No
Early Amortization Period? No
A Receivables for Due Period
<S><C> <S> <C>
A(1) Beginning Principal Receivables 3,884,223,329.21
Beginning Finance Charge Receivables
(excluding Interchange) 48,033,796.69
Beginning Discount Receivables 0.00
-------------------
Beginning Receivables 3,932,257,125.90
A(2) Removed Principal Receivables 0.00
Removed Finance Charge Receivables
(excluding Interchange) 0.00
-------------------
Removed Receivables 0.00
A(3) Principal Receivables with respect to
Additional Accounts 0.00
Finance Charge Receivables with respect to Additional
Accounts (excluding Interchange) 0.00
-------------------
Receivables with respect to Additional Accounts 0.00
A(4) Principal Receivables billed 384,072,047.57
Finance Charge Receivables billed
(excluding Interchange) 57,562,639.66
-------------------
Receivables billed 441,634,687.23
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 349,127,735.35
Collections of Finance Charge Receivables
(excluding Interchange) 56,600,313.05
-------------------
Total Collections 405,728,048.40
A(7) Default Amount (excluding Recoveries) 24,411,857.62
A(8) Ending Principal Receivables 3,894,755,783.81
Ending Finance Charge Receivables
(excluding Interchange) 48,996,123.30
Ending Discount Receivables 0.00
-------------------
Ending Receivables 3,943,751,907.11
A(9) Beginning Aggregate Invested Amount 3,366,152,375.00
Beginning Aggregate Invested Percentage 86.66%
A(10) Beginning Transferor Amount 518,070,954.21
Net Change in Transferor Amount 10,532,454.60
-------------------
Ending Transferor Amount 528,603,408.81
Beginning Transferor Interest Percentage 13.34%
A(11) Collections of Finance Charge Receivables
allocable to Interchange 3,092,046.85
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 23,681
60-89 Days Delinquent 14,641
90-119 Days Delinquent 10,304
120+ Days Delinquent 13,860
B(2) Defaulted Accounts 6,242
B(3) Delinquent Receivables
30-59 Days Delinquent 73,788,963.14
60-89 Days Delinquent 48,804,508.88
90-119 Days Delinquent 36,420,408.24
120+ Days Delinquent 53,736,655.60
B(4) Default Amount 21,403,337.81
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 6.76%
Base Rate (Prior Due Period) 6.76%
Base Rate (Two Due Periods Ago) 6.76%
Three Month Average Base Rate 6.76%
C(2) Portfolio Yield (Current Due Period) 8.10%
Portfolio Yield (Prior Due Period) 8.22%
Portfolio Yield (Two Due Periods Ago) 8.02%
Three Month Average Portfolio Yield 8.11%
D Series 1993-1 Invested Amount
D(1) Class A Initial Invested Amount 750,000,000.00
Class B Initial Invested Amount 47,873,000.00
-------------------
Initial Invested Amount 797,873,000.00
D(2) Class A Invested Amount as of the beginning of
the Due Period
750,000,000.00
Class B Invested Amount as of the beginning of
the Due Period 47,873,000.00
-------------------
Invested Amount as of the beginning of the Due Period 797,873,000.00
D(3) Class A Invested Amount at the end of revolving period 750,000,000.00
Class B Invested Amount at the end of revolving period 47,873,000.00
-------------------
Invested Amount at the end of revolving period 797,873,000.00
D(4) Principal Funding Account Balance as of end of day
on preceding Distribution Date 500,000,000.00
Deposits to Principal Funding Account 62,500,000.00
Principal Funding Investment Proceeds 1,960,977.31
Withdrawals from Principal Funding Account 0.00
Allocation of Principal Funding Investment Proceeds 1,960,977.31
-------------------
Principal Funding Account Balance as of end of day
on current Distribution Date 562,500,000.00
D(5) Class A Adjusted Invested Amount as of the beginning
of the Due Period 250,000,000.00
Class B Adjusted Invested Amount as of the beginning
of the Due Period 47,873,000.00
-------------------
Adjusted Invested Amount as of the beginning of
the Due Period 297,873,000.00
D(6) Enhancement Initial Invested Amount 0.00
Enhancement Invested Amount 0.00
D(7) Floating Allocation Percentage 7.67%
D(8) Principal Allocation Percentage 20.54%
E Servicing Fee Calculation
E(1) Servicing Base Amount 297,873,000.00
E(2) Servicer Interchange 186,170.62
Class A Servicing Fee 260,421.68
Class B Servicing Fe 49,862.70
-------------------
Subtotal 496,455.00
Investor Monthly Servicing Fee 496,455.00
-------------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 1,641,636.01
E(4) Monthly Cash Collateral Fee 12,419.34
F Reserve Account
F(1) Reserve Account Balance as of end of day on
preceding Distribution Date 7,978,730.00
Deposits to Reserve Account 0.00
Interest earnings on Reserve Account 33,175.55
Withdrawals from Reserve Account 33,175.55
------------------
Reserve Account Balance as of end of day on current
Distribution Date 7,978,730.00
F(2) Required Reserve Account Amount 7,978,730.00
F(3) Available Reserve Account Amount 7,978,730.00
F(4) Reserve Draw Amount 0.00
F(5) Reserve Account Surplus 0.00
F(6) Covered Amount 1,979,166.67
G Cash Collateral Account
G(1) Initial Shared Collateral Amount 39,894,167.00
Initial Class B Collateral Amount 7,978,833.00
------------------
Initial Cash Collateral Amount 47,873,000.00
G(2) Cash Collateral Account balance as of end of day
on preceding Distribution Date 47,873,000.00
Deposits to Cash Collateral Account 0.00
Withdrawals from Cash Collateral Account 0.00
-------------------
Cash Collateral Account balance as of end of day
on current Distribution Date 47,873,000.00
G(3) Cash Collateral Account Surplus 0.00
G(4) Available Shared Collateral Amount 39,894,167.00
Available Cash Collateral Amount 47,873,000.00
G(5) Required Draw Amount 0.00
Interest Draw Amount 0.00
Servicing Draw Amount 0.00
Default Draw Amount 0.00
Reimbursement Draw Amount/Special Draw Amount/Class
A&B Principal Draw Amount 0.00
-------------------
Total Draw Amount 0.00
H Allocation of Class A Available Funds
H(1) Class A Floating Percentage 83.93%
H(2) Principal Funding Investment Proceeds
(if applicable to Class A) 1,960,977.31
Class A Finance Charge Collections
(excluding Interchange) 3,643,606.10
Class A allocation of Servicer Interchange 199,048.38
Reserve Draw Amount (if applicable to Class A) 0.00
-------------------
Class A Available Funds 5,803,631.79
H(3) Class A Monthly Interest 2,968,750.00
Class A Interest Shortfall 0.00
H(4) Class A Additional Interest 0.00
Class A Servicing Fee 260,421.68
Class A allocation of Servicer Interchange 156,253.01
Class A Investor Default Amount 1,377,825.10
H(5) Distribution of Class A Available Funds
Class A Monthly Interest plus amounts previously
due but not distributed 2,968,750.00
Class A Additional Interest plus amounts
previously due but not distributed 0.00
Class A Servicing Fee plus amounts previously due
but not distributed 260,421.68
Class A allocation of Servicer Interchange 156,253.01
Class A Investor Default Amount 1,377,825.10
-------------------
Total Class A Excess Spread 1,040,382.00
H(6) Required Amount 0.00
I Allocation of Class B Available Funds
I(1) Class B Floating Percentage 16.07%
I(2) Principal Funding Investment Proceeds
(if applicable to Class B) 0.00
Class B Finance Charge Collections (excluding
Interchange) 697,637.91
Class B allocation of Servicer Interchange 38,111.61
-------------------
Class B Available Funds 735,749.52
I(3) Class B Monthly Interest 194,484.06
Class B Interest Shortfall 0.00
I(4) Class B Additional Interest 0.00
Class B Servicing Fee 49,862.70
Class B allocation of Servicer Interchange 29,917.61
I(5) Distribution of Class B Available Funds
Class B Monthly Interest plus amounts previously
due but not distributed 194,484.06
Class B Additional Interest plus amounts
previously due but not distributed 0.00
Class B Servicing Fee plus amounts previously due
but not distributed 49,862.70
Class B allocation of Servicer Interchange 29,917.61
-------------------
Total Class B Excess Spread 461,485.15
I(6) Class B Investor Default Amount 263,810.91
J Excess Spread and Excess Finance Charge Collections
J(1) Total Excess Spread 1,501,867.15
Excess Finance Charge Collections allocated from
other series 490,692.88
-------------------
Subtotal 1,992,560.03
J(2) Applied to Required Amount 0.00
Applied to Class A Investor Charge Offs 0.00
Applied to Class B Monthly Interest & Additional Interest 0.00
Applied to Class B Servicing Fee 0.00
Applied to Class B Investor Default Amount 263,810.91
Applied to Class B Invested Amount reductions 0.00
Applied to Enhancement Invested Amount reductions 0.00
Applied to Cash Collateral Account 0.00
Applied to Monthly Cash Collateral Fee 12,419.34
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 1,716,329.78
-------------------
Total Excess Finance Charge Collections 0.00
J(3) Finance Charge Shortfall 7,886,203.02
J(4) Portion of Shared Collateral Amount applied to Required Amount 0.00
Portion of Reallocated Principal Collections applied
to Required Amount 0.00
K Allocation of Principal Collections
K(1) Available Principal Collections 73,352,472.85
Excess Principal Collections with respect to other Series 0.00
-------------------
Subtotal 73,352,472.85
K(2) Class A Principal Percentage 94.00%
Class A Monthly Principal 62,500,000.00
K(3) Class B Principal Percentage 6.00%
Class B Monthly Principal 0.00
K(4) Allocation of Principal Collections
Deposit to Principal Funding Account 62,500,000.00
Distribution to Cash Collateral Depositor 0.00
Excess Principal Collections 10,852,472.85
Principal Shortfall 0.00
K(5) Reallocated Principal Collections pursuant to Section 4.9(a) 0.00
K(6) Amount by which Class B Invested Amount was reduced
pursuant to 4.7(a) 0.00
L Accumulation Period
L(1) Controlled Accumulation Amount (Class A) 62,500,000.00
Deficit Controlled Accumulation Amount (Class A) 0.00
-------------------
Controlled Deposit Amount (Class A) 62,500,000.00
L(2) Controlled Accumulation Amount (Class B) N/A
Deficit Controlled Accumulation Amount (Class B) N/A
-------------------
Controlled Deposit Amount (Class B) 0.00
M Investor Charge Offs
M(1) Class A Investor Charge Offs 0.00
Class B Investor Charge Offs 0.00
M(2) The amount of reimbursed Class A Investor Charge Offs 0.00
The amount of reimbursed Class B Investor Charge Offs 0.00
M(3) The amount, if any, by which the outstanding principal
balance of the Certificates exceeds the Invested Amount
after giving effect to all transactions on the Distribution Date
Class A 0.00
Class B 0.00
N Distributions to Class A Certificateholders
(per $1,000 original principal amount)
N(1) Total distribution to Class A Certificateholders 3.96
Amount with respect to interest 3.96
Amount with respect to principal 0.00
N(2) Class A Investor Charge Offs 0.00
N(3) The amount of reimbursed Class A Investor Charge Offs 0.00
O Distributions to Class B Certificateholders
(per $1,000 original principal amount)
O(1) Total distribution to Class B Certificateholders 4.06
Amount with respect to interest 4.06
Amount with respect to principal 0.00
O(2) Class B Investor Charge Offs 0.00
O(3) The amount of reimbursed Class B Investor Charge Offs 0.00
NATIONSBANK OF DELAWARE, N.A.
as Servicer
By: /s/ Mark Palardy
-----------------
Name: Mark Palardy
Title: Vice President
Statement to Certificateholders Exhibit C & D
NationsBank Credit Card Master Trust-Series 1993-2
- --------------------------------------------------
MONTHLY CERTIFICATEHOLDERS STATEMENT
NATIONSBANK OF DELAWARE, N/A
NATIONSBANK CREDIT CARD MASTER TRUST
SERIES 1993-2
--------------------------------------
Pursuant to the Master Pooling and Servicing Agreement, dated as of December 1,
1993 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 1993-2 Supplement, dated as of December 1, 1993 (the
"Supplement" and, together with the Pooling and Servicing Agreement, the
"Agreement"), each between NationsBank of Delaware, N.A. as Transferor and
Servicer, and The Bank of New York, as Trustee, the Servicer is required to
prepare certain information each month regarding distributions to
Certificateholders and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below.
Due Period Aug-96
Determination Date 09-Sep-96
Transfer Date 13-Sep-96
Distribution Date 16-Sep-96
Amortization Period? No
Class A Accumulation Period? No
Class B Accumulation Period? No
Early Amortization Period? No
A Receivables for Due Period
A(1) Beginning Principal Receivables 3,884,223,329.21
Beginning Finance Charge Receivables (excluding
Interchange) 48,033,796.69
Beginning Discount Receivables 0.00
-------------------
Beginning Receivables 3,932,257,125.90
A(2) Removed Principal Receivables 0.00
Removed Finance Charge Receivables (excluding Interchange) 0.00
------------------
Removed Receivables 0.00
A(3) Principal Receivables with respect to Additional Accounts 0.00
Finance Charge Receivables with respect to Additional
Accounts (excluding Interchange) 0.00
-----------------
Receivables with respect to Additional Accounts 0.00
A(4) Principal Receivables billed 384,072,047.57
Finance Charge Receivables billed (excluding Interchange) 57,562,639.66
-------------------
Receivables billed 441,634,687.23
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 349,127,735.35
Collections of Finance Charge Receivables
(excluding Interchange) 56,600,313.05
------------------
Total Collections 405,728,048.40
A(7) Default Amount 24,411,857.62
A(8) Ending Principal Receivables 3,894,755,783.81
Ending Finance Charge Receivables (excluding Interchange) 48,996,123.30
Ending Discount Receivables 0.00
-------------------
Ending Receivables 3,943,751,907.11
A(9) Beginning Aggregate Invested Amount 3,366,152,375.00
Beginning Aggregate Invested Percentage 86.66%
A(10) Beginning Transferor Amount 518,070,954.21
Net Change in Transferor Amount 10,532,454.60
-------------------
Ending Transferor Amount 528,603,408.81
Beginning Transferor Interest Percentage 13.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 3,092,046.85
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 23,681
60-89 Days Delinquent 14,641
90-119 Days Delinquent 10,304
120+ Days Delinquent 13,860
B(2) Defaulted Accounts 6,242
B(3) Delinquent Receivables
30-59 Days Delinquent 73,788,963.14
60-89 Days Delinquent 48,804,508.88
90-119 Days Delinquent 36,420,408.24
120+ Days Delinquent 53,736,655.60
B(4) Default Amount 21,403,337.81
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 8.02%
Base Rate (Prior Due Period) 8.02%
Base Rate (Two Due Periods Ago) 8.02%
Three Month Average Base Rate 8.02%
C(2) Portfolio Yield (Current Due Period) 11.83%
Portfolio Yield (Prior Due Period) 11.68%
Portfolio Yield (Two Due Periods Ago) 11.19%
Three Month Average Portfolio Yield 11.57%
D Series 1993-2 Invested Amount
D(1) Class A Initial Invested Amount 500,000,000.00
Class B Initial Invested Amount 31,915,000.00
-------------------
Initial Invested Amount 531,915,000.00
D(2) Class A Invested Amount as of the beginning of the
Due Period 500,000,000.00
Class B Invested Amount as of the beginning of the
Due Period 31,915,000.00
-------------------
Invested Amount as of the beginning of the Due Period 531,915,000.00
D(3) Class A Invested Amount at the end of revolving period N/A
Class B Invested Amount at the end of revolving period N/A
-------------------
Invested Amount at the end of revolving period N/A
D(4) Principal Funding Account Balance as of end of day
on preceding Distribution Date 0.00
Deposits to Principal Funding Account 0.00
Principal Funding Investment Proceeds 0.00
Withdrawals from Principal Funding Account 0.00
Allocation of Principal Funding Investment Proceeds 0.00
-------------------
Principal Funding Account Balance as of end of day on
current Distribution Date 0.00
D(5) Class A Adjusted Invested Amount as of the beginning
of the Due Period 500,000,000.00
Class B Adjusted Invested Amount as of the beginning
of the Due Period 31,915,000.00
-------------------
Adjusted Invested Amount as of the beginning of the
Due Period 531,915,000.00
D(6) Enhancement Initial Invested Amount 0.00
Enhancement Invested Amount 0.00
D(7) Floating Allocation Percentage 13.69%
D(8) Principal Allocation Percentage 13.69%
E Servicing Fee Calculation
E(1) Servicing Base Amount 531,915,000.00
E(2) Servicer Interchange 332,446.88
Class A Servicing Fee 520,833.44
Class B Servicing Fee 33,244.69
------------------
Subtotal 886,525.01
Investor Monthly Servicing Fee 886,525.01
------------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 2,930,116.95
E(4) Monthly Cash Collateral Fee 11,885.04
F Reserve Account
F(1) Reserve Account Balance as of end of day on preceding
Distribution Date 0.00
Deposits to Reserve Account 0.00
Interest earnings on Reserve Account 0.00
Deposits to Reserve Account 0.00
Interest earnings on Reserve Account 0.00
Withdrawals from Reserve Account 0.00
-------------------
Reserve Account Balance as of end of day on
current Distribution Date 0.00
F(2) Required Reserve Account Amount 0.00
F(3) Available Reserve Account Amount 0.00
F(4) Reserve Draw Amount 0.00
F(5) Reserve Account Surplus 0.00
F(6) Covered Amount N/A
G Cash Collateral Account
G(1) Initial Shared Collateral Amount 26,595,833.00
Initial Class B Collateral Amount 5,319,167.00
Initial Cash Collateral Amount 31,915,000.00
G(2) Cash Collateral Account balance as of end of day on
preceding Distribution Date 31,915,000.00
Deposits to Cash Collateral Account 0.00
Withdrawals from Cash Collateral Account 0.00
Cash Collateral Account balance as of end of day on
current Distribution Date 31,915,000.00
G(3) Cash Collateral Account Surplus 0.00
G(4) Available Shared Collateral Amount 26,595,833.00
Available Cash Collateral Amount 31,915,000.00
G(5) Required Draw Amount 0.00
Interest Draw Amount 0.00
Servicing Draw Amount 0.00
Default Draw Amount 0.00
Reimbursement Draw Amount/Special Draw Amount/Class A&B
Principal Draw Amount 0.00
-------------------
Total Draw Amount 0.00
H Class A Available Funds
H(1) Class A Floating Percentage 94.00%
H(2) Principal Funding Investment Proceeds (if applicable
to Class A) 0.00
Class A Finance Charge Collections (excluding Interchange) 7,283,667.89
Class A allocation of Servicer Interchange 397,903.14
Reserve Draw Amount (if applicable to Class A) 0.00
------------------
Class A Available Funds 7,681,571.03
H(3) Class A Monthly Interest 2,500,000.00
------------------
Class A Interest Shortfall 0.00
H(4) Class A Additional Interest 0.00
Class A Servicing Fee 520,833.44
Class A allocation of Servicer Interchange 312,500.06
Class A Investor Default Amount 2,754,309.93
H(5) Distribution of Class A Available Funds
Class A Monthly Interest plus amounts previously
due but not distributed 2,500,000.00
Class A Additional Interest plus amounts previously
due but not distributed 0.00
Class A Servicing Fee plus amounts previously due
but not distributed 520,833.44
Class A allocation of Serivcer Interchange 312,500.06
Class A Investor Default Amount 2,754,309.93
-------------------
Total Class A Excess Spread 1,593,927.60
H(6) Required Amount 0.00
I Class B Available Funds
I(1) Class B Floating Percentage 6.00%
I(2) Principal Funding Investment Proceeds (if applicable
to Class B) 0.00
Class B Finance Charge Collections (excluding Interchange) 464,914.97
Class B allocation of Servicer Interchange 25,398.07
Reserve Draw Amount (if applicable to Class B) 0.00
------------------
Class B Available Funds 490,313.04
I(3) Class B Monthly Interest 166,223.96
------------------
Class B Interest Shortfall 0.00
I(4) Class B Additional Interest 0.00
Class B Servicing Fee 33,244.69
Class B allocation of Servicer Interchange 19,946.82
I(5) Distribution of Class B Available Funds
Class B Monthly Interest plus amounts previously
due but not distributed 166,223.96
Class B Additional Interest plus amounts previously
due but not distributed 0.00
Class B Servicing Fee plus amounts previously due
but not distributed 33,244.69
Class B allocation of Servicer Interchange 19,946.82
-------------------
Total Class B Excess Spread 270,897.57
I(6) Class B Investor Default Amount 175,807.02
J Excess Spread and Excess Finance Charge Collections
J(1) Total Excess Spread 1,864,825.17
Excess Finance Charge Collections allocated from
other series 0.00
-------------------
Subtotal 1,864,825.17
J(2) Applied to Required Amount 0.00
Applied to Class A Investor Charge Offs 0.00
Applied to Class B Monthly Interest & Additional Interest 0.00
Applied to Class B Servicing Fee 0.00
Applied to Class B Investor Default Amount 175,807.02
Applied to Class B Invested Amount reductions 0.00
Applied to Enhancement Invested Amount reductions 0.00
Applied to Cash Collateral Account 0.00
Applied to Monthly Cash Collateral Fee 11,885.04
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 0.00
-------------------
Total Excess Finance Charge Collections 1,677,133.11
J(3) Finance Charge Shortfall 0.00
J(4) Portion of Shared Collateral Amount applied to Required Amount 0.00
Portion of Reallocated Principal Collections applied
to Required Amount 0.00
K Principal Collections
K(1) Available Principal Collections 50,725,703.92
Excess Principal Collections with respect to other Series 0.00
-------------------
Subtotal 50,725,703.92
K(2) Class A Principal Percentage 94.00%
Class A Monthly Principal 0.00
K(3) Class B Principal Percentage 6.00%
Class B Monthly Principal 0.00
K(4) Allocation of Principal Collections
Deposit to Principal Funding Account 0.00
Distribution to Cash Collateral Depositor 0.00
Excess Principal Collections 50,725,703.92
Principal Shortfall 0.00
K(5) Reallocated Principal Collections pursuant to Section 4.9(a) 0.00
K(6) Amount by which Class B Invested Amount was reduced
pursuant to 4.7(a) 0.00
L Accumulation Period
L(1) Controlled Accumulation Amount (Class A) N/A
Deficit Controlled Accumulation Amount (Class A) N/A
-----------------
Controlled Deposit Amount (Class A) 0.00
L(2) Controlled Accumulation Amount (Class B) N/A
Deficit Controlled Accumulation Amount (Class B) N/A
-----------------
Controlled Deposit Amount (Class B) 0.00
M Investor Charge Offs
M(1) Class A Investor Charge Offs 0.00
Class B Investor Charge Offs 0.00
M(2) The amount of reimbursed Class A Investor Charge Offs 0.00
The amount of reimbursed Class B Investor Charge Offs 0.00
M(3) The amount, if any, by which the outstanding principal
balance of the Certificates exceeds the Invested Amount
after giving effect to all transactions on the Distribution Date
Class A 0.00
Class B 0.00
N Distributions to Class A Certificateholders
(per $1,000 original principal amount)
N(1) Total distribution to Class A Certificateholders 5.00
Amount with respect to interest 5.00
Amount with respect to principal 0.00
N(2) Class A Investor Charge Offs 0.00
N(3) The amount of reimbursed Class A Investor Charge Offs 0.00
O Distributions to Class B Certificateholders
(per $1,000 original principal amount)
O(1) Total distribution to Class B Certificateholders 5.21
Amount with respect to interest 5.21
Amount with respect to principal 0.00
O(2) Class B Investor Charge Offs 0.00
O(3) The amount of reimbursed Class B Investor Charge Offs 0.00
NATIONSBANK OF DELAWARE, N.A.
as Servicer
By: /s/ Mark Palardy
-----------------
Name: Mark Palardy
Title: Vice President
Statement to Certificateholders Exhibit E, F & G
NationsBank Credit Card Master Trust-Series 1995-1
- --------------------------------------------------
MONTHLY CERTIFICATEHOLDERS STATEMENT
NATIONSBANK OF DELAWARE, N.A.
NATIONSBANK CREDIT CARD MASTER TRUST
SERIES 1995-1
------------------------------------
Pursuant to the Master Pooling and Servicing Agreement, dated as of December 1,
1993 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 1995-1 Supplement, dated as of August 8, 1995 (the
"Supplement" and, together with the Pooling and Servicing Agreement, the
"Agreement"), each between NationsBank of Delaware, N.A. as Transferor and
Servicer, and The Bank of New York, as Trustee, the Servicer is required to
prepare certain information each month regarding distributions to
Certificateholders and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below.
Due Period Aug-96
Determination Date 09-Sep-96
Transfer Date 13-Sep-96
Distribution Date 16-Sep-96
Amortization Period? No
Class A Accumulation Period? No
Class B Accumulation Period? No
Early Amortization Period? No
A Receivables for Due Period
A(1) Beginning Principal Receivables 3,884,223,329.21
Beginning Finance Charge Receivables
(excluding Interchange) 48,033,796.69
Beginning Discount Receivables 0.00
------------------
Beginning Receivables 3,932,257,125.90
A(2) Removed Principal Receivables 0.00
Removed Finance Charge Receivables (excluding Interchange) 0.00
------------------
Removed Receivables 0.00
A(3) Principal Receivables with respect to Additional Accounts 0.00
Finance Charge Receivables with respect to Additional
Accounts (excluding Interchange) 0.00
-------------------
Receivables with respect to Additional Accounts 0.00
A(4) Principal Receivables billed 384,072,047.57
Finance Charge Receivables billed (excluding
Interchange) 57,562,639.66
------------------
Receivables billed 441,634,687.23
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 349,127,735.35
Collections of Finance Charge Receivables
(excluding Interchange) 56,600,313.05
-------------------
Total Collections 405,728,048.40
A(7) Default Amount (excluding Recoveries) 24,411,857.62
A(8) Ending Principal Receivables 3,894,755,783.81
Ending Finance Charge Receivables (excluding Interchange) 48,996,123.30
Ending Discount Receivables 0.00
------------------
Ending Receivables 3,943,751,907.11
A(9) Beginning Aggregate Invested Amount 3,366,152,375.00
Beginning Aggregate Invested Percentage 86.66%
A(10) Beginning Transferor Amount 518,070,954.21
Net Change in Transferor Amount 10,532,454.60
------------------
Ending Transferor Amount 528,603,408.81
Beginning Transferor Interest Percentage 13.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 3,092,046.85
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 23,681
60-89 Days Delinquent 14,641
90-119 Days Delinquent 10,304
120+ Days Delinquent 13,860
B(2) Defaulted Accounts 6,242
B(3) Delinquent Receivables
30-59 Days Delinquent 73,788,963.14
60-89 Days Delinquent 48,804,508.88
90-119 Days Delinquent 36,420,408.24
120+ Days Delinquent 53,736,655.60
B(4) Default Amount 21,403,337.81
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 8.45%
Base Rate (Prior Due Period) 8.44%
Base Rate (Two Due Periods Ago) 8.40%
Three Month Average Base Rate 8.43%
C(2) Portfolio Yield (Current Due Period) 12.36%
Portfolio Yield (Prior Due Period) 12.31%
Portfolio Yield (Two Due Periods Ago) 11.24%
Three Month Average Portfolio Yield 11.97%
D Series 1995-1 Invested Amount
D(1) Class A Initial Invested Amount 1,000,000,000.00
Class B Initial Invested Amount 51,137,000.00
Collateral Initial Indebtedness Amount 85,228,000.00
-------------------
Initial Invested Amount 1,136,365,000.00
D(2) Class A Investor Amount as of the beginning of the
Due Period 1,000,000,000.00
Class B Investor Amount as of the beginning of the
Due Period 51,137,000.00
Investor Amount 1,136,364,375.00
D(3) Class A Invested Amount at the end of revolving period N/A
Class B Invested Amount at the end of revolving period N/A
Collateral Indebtedness Amount at the end of revolving period N/A
-------------------
Invested Amount at the end of revolving period N/A
D(4) Principal Funding Account Balance as of end of day on
preceding Distribution Date 0.00
Deposits to Principal Funding Account 0.00
Principal Funding Investment Proceeds 0.00
Withdrawals from Principal Funding Account 0.00
Allocation of Principal Funding Investment Proceeds 0.00
------------------
Principal Funding Account Balance as of end of day on
current Distribution Date 0.00
D(5) Class A Invested Amount as of the beginning of the
Due Period 1,000,000,000.00
Class B Invested Amount as of the beginning of the
Due Period 51,137,000.00
Collateral Indebtedness Amount as of the beginning
of the Due Period 85,227,375.00
-------------------
Invested Amount as of the beginning of the Due Period 1,136,364,375.00
D(6) Required Enhancement Amount 85,227,328.10
Enhancement Surplus 15,368,189.33
Available Enhancement Amount 85,227,328.10
D(7) Floating Allocation Percentage 29.26%
D(8) Fixed Allocation Percentage N/A
E Servicing Fee Calculation
E(1) Servicing Base Amount 1,136,364,375.00
E(2) Servicer Interchange 710,227.73
Class A Servicing Fee 1,041,666.67
Class B Servicing Fee 53,267.71
Collateral Servicing Fee 88,778.52
-------------------
Subtotal 1,893,940.63
Investor Monthly Servicing Fee 1,893,940.63
-----------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 6,262,616.64
E(4) Monthly Cash Collateral Fee 0.00
F Reserve Account
F(1) Reserve Account Balance as of end of day on preceding
Distribution Date 0.00
Deposits to Reserve Account 0.00
Interest earnings on Reserve Account 0.00
Withdrawals from Reserve Account 0.00
--------------------
Reserve Account Balance as of end of day on current
Distribution Date 0.00
F(2) Required Reserve Account Amount 0.00
F(3) Available Reserve Account Amount 0.00
F(4) Reserve Draw Amount 0.00
F(5) Reserve Account Surplus 0.00
F(6) Covered Amount N/A
G Cash Collateral Account
G(1) Initial Cash Collateral Amount 0.00
G(2) Cash Collateral Account balance as of end of day on
preceding Distribution Date 15,368,142.43
Deposits to Cash Collateral Account (Net of
Investment Earnings) 3,649,032.92
Investment Earnings on Cash Collateral Account 53,165.79
Withdrawals from Cash Collateral Account 0.00
-------------------
Cash Collateral Account balance as of end of day on
current Distribution Date 19,070,341.14
G(3) Cash Enhancement Surplus 0.00
G(4) Available Cash Collateral Amount 15,368,142.43
Required Cash Collateral Amount 22,727,300.00
Required Cash Collateral Percentage 2.00%
G(5) Required Draw Amount 0.00
H Class A Available Funds
H(1) Class A Floating Percentage 25.75%
H(2) Principal Funding Investment Proceeds (if applicable to Class A) 0.00
Cash Collateral Account Investment Proceeds 46,788.08
Class A Finance Charge Collections (excluding Interchange) 14,574,580.61
Class A allocation of Servicer Interchange 796,202.06
Reserve Draw Amount (if applicable to Class A) 0.00
-----------------
Class A Available Funds 15,417,570.75
H(3) Class A Monthly Interest 5,375,000.00
-----------------
Class A Interest Shortfall 0.00
H(4) Class A Additional Interest 0.00
Class A Servicing Fee 1,041,666.67
Class A allocation of Servicer Interchange 625,000.00
Class A Investor Default Amount 5,511,359.49
H(5) Distribution of Class A Available Funds
Class A Monthly Interest plus amounts previously
due but not distributed 5,375,000.00
Class A Additional Interest plus amounts
previously due but not distributed 0.00
Class A Servicing Fee plus amounts previously due
but not distributed 1,041,666.67
Class A allocation of Servicer Interchange 625,000.00
Class A Investor Default Amount 5,511,359.49
------------------
Total Class A Excess Spread 2,864,544.59
H(6) Class A Required Amount 0.00
I Class B Available Funds
I(1) Class B Floating Percentage 1.32%
I(2) Principal Funding Investment Proceeds (if applicable to Class B) 0.00
Cash Collateral Account Investment Proceeds 2,398.46
Class B Finance Charge Collections (excluding Interchange) 747,124.13
Class B allocation of Servicer Interchange 40,815.02
Reserve Draw Amount (if applicable to Class B) 0.00
------------------
Class B Available Funds 790,337.60
I(3) Class B Monthly Interest 282,318.85
------------------
Class B Interest Shortfall 0.00
I(4) Class B Additional Interest 0.00
Class B Servicing Fee 53,267.71
Class B allocation of Servicer Interchange 31,960.63
I(5) Distribution of Class B Available Funds
Class B Monthly Interest plus amounts previously due but not
distributed 282,318.85
Class B Additional Interest plus amounts previously due but
not distributed 0.00
Class B Servicing Fee plus amounts previously due but not
distributed 53,267.71
Class B allocation of Servicer Interchange 31,960.63
------------------
Total Class B Excess Spread 422,790.41
I(6) Class B Investor Default Amount 282,524.06
Class B Required Amount 0.00
J Collateral Available Funds
J(1) Collateral Floating Percentage 2.19%
J(2) Collateral Finance Charge Collections 1,239,546.86
Collateral Allocation of Cash Collateral Account
Investment Proceeds 3,979.26
Collateral allocation of Servicer Interchange 67,715.83
-------------------
Collateral Available Funds 1,311,241.94
J(3) Collateral Monthly Interest 451,705.09
-------------------
Collateral Interest Shortfall 0.00
J(4) Collateral Additional Interest 0.00
Collateral Servicing Fee 88,778.52
Collateral allocation of Servicer Interchange 53,267.10
J(5) Distribution of Collateral Available Funds
Collateral Servicing Fee plus amounts previously due but not
distributed 88,778.52
Collateral allocation of Servicer Interchange 53,267.10
--------------------
Total Collateral Excess Spread 1,169,196.32
J(6) Collateral Investor Default Amount 468,733.10
J(7) Collateral Required Amount 0.00
K Excess Spread and Excess Finance Charge Collections
K(1) Total Excess Spread 4,456,531.32
Excess Finance Charge Collections allocated from
other series 448,629.64
--------------------
Subtotal 4,905,160.96
K(2) Applied to Class A Monthly Interest & Additional Interest 0.00
Applied to Class A Servicing Fee 0.00
Applied to Class A Investor Default Amount (0.00)
Applied to Class A Investor Charge Offs 0.00
Applied to Class B Monthly Interest & Additional Interest 0.00
Applied to Class B Servicing Fee 0.00
Applied to Class B Investor Default Amount 282,524.06
Applied to Class B Invested Amount reductions 0.00
Applied to Collateral Servicing Fee 0.00
Applied to Collateral Monthly Interest & Additional Interest 451,705.09
Applied to Collateral Default Amount 468,733.10
Applied to Collateral Indebtedness Amount reductions 0.00
Applied to Cash Collateral Account 0.00
Applied to Other Amount Due to Collateral Indebtedness Holder 0.00
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 3,702,198.71
------------------
Total Excess Finance Charge Collections 0.00
K(3) Finance Charge Shortfall 7,210,180.92
K(4) Portion of Reallocated Principal Collections applied
to Required Amount 0.00
L Principal Collections
L(1) Collections of Principal Receivables allocable to
Series 1995-1 108,417,392.01
Excess Principal Collections with respect to other Series 0.00
------------------
Subtotal 108,417,392.01
L(2) Class A Fixed Percentage N/A
Class A Monthly Principal 0.00
L(3) Class B Fixed Percentage N/A
Class B Monthly Principal 0.00
L(4) Collateral Fixed Percentage N/A
Collateral Monthly Principal 0.00
L(5) Allocation of Principal Collections
Deposit to Principal Funding Account 0.00
Distribution to Collateral Indebtedness Holder 0.00
Excess Principal Collections 108,417,392.01
----------------
Principal Shortfall 0.00
L(6) Class B Subordinated Principal Collections 4,891,010.17
Collateral Subordinated Principal Collections 8,114,630.50
-------------------
Total Subordinated Principal Collections 13,005,640.67
L(7) Reallocated Principal Collections pursuant to Section 4.9(a) 0.00
Reallocated Principal Collections pursuant to Section 4.9(b) 0.00
Reallocated Principal Collections pursuant to Section 4.9(c) 0.00
-------------
Total Reallocated Principal Collections 0.00
M Accumulation Period
M(1) Controlled Accumulation Amount (Class A) N/A
Deficit Controlled Accumulation Amount (Class A) N/A
---------------
Controlled Deposit Amount (Class A) 0.00
M(2) Controlled Accumulation Amount (Class B) N/A
Deficit Controlled Accumulation Amount (Class B) N/A
----------------
Controlled Deposit Amount (Class B) 0.00
M(3) Accumulation Period Factor 1.19
Monthly Payment Rate 8.9884%
Required Accumulation Factor Number 12.00
Accumulation Period Length N/A
N Investor Charge Offs
N(1) Class A Investor Charge Offs 0.00
Class B Investor Charge Offs 0.00
N(2) The amount of reimbursed Class A Investor Charge Offs 0.00
The amount of reimbursed Class B Investor Charge Offs 0.00
N(3) The amount, if any, by which the outstanding principal
balance of the Certificates exceeds the Invested Amount
after giving effect to all transactions on the Distribution
Date
Class A 0.00
Class B 0.00
O Distributions to Class A Certificateholders (per $1,000
original principal amount)
O(1) Total distribution to Class A Certificateholders 5.38
Amount with respect to interest 5.38
Amount with respect to principal 0.00
O(2) Class A Investor Charge Offs 0.00
O(3) The amount of reimbursed Class A Investor Charge Offs 0.00
P Distributions to Class B Certificateholders (per $1,000
original principal amount)
P(1) Total distribution to Class B Certificateholders 5.52
Amount with respect to interest 5.52
Amount with respect to principal 0.00
P(2) Class B Investor Charge Offs 0.00
P(3) The amount of reimbursed Class B Investor Charge Offs 0.00
Q Distributions to Collateral Indebtedness Holders
(per $1,000 original principal amount)
Q(1) Total distribution to Collateral Indebtednness Holders 5.30
Amount with respect to interest 5.30
Amount with respect to principal 0.00
Q(2) Collateral Investor Charge Offs 0.00
Q(3) The amount of reimbursed Collateral Investor Charge Offs 0.00
NATIONSBANK OF DELAWARE, N.A.
as Servicer
By: /s/ Mark Palardy
-----------------
Name: Mark Palardy
Vice President
Statement to Certificateholders Exhibit H, I & J
NationsBank Credit Card Master Trust-Series 1996-1
- --------------------------------------------------
MONTHLY CERTIFICATEHOLDERS STATEMENT
NATIONSBANK OF DELAWARE, N.A.
NATIONSBANK CREDIT CARD MASTER TRUST
SERIES 1996-1
------------------------------------
Pursuant to the Master Pooling and Servicing Agreement, dated as of December 1,
1993 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 1996-1 Supplement, dated as of June11, 1996 (the
"Supplement" and, together with the Pooling and Servicing Agreement, the
"Agreement"), each between NationsBank of Delaware, N.A. as Transferor and
Servicer, and The Bank of New York, as Trustee, the Servicer is required to
prepare certain information each month regarding distributions to
Certificateholders and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below.
Due Period Aug-96
Determination Date 09-Sep-96
Transfer Date 13-Sep-96
Distribution Date 16-Sep-96
Interest Period 15-Aug-96 to 15-Sep-96
Interest Payment Date 16-Sep-96
Amortization Period? No
Class A Accumulation Period? No
Class B Accumulation Period? No
Early Amortization Period? No
A Receivables for Due Period
A(1) Beginning Principal Receivables 3,884,223,329.21
Beginning Finance Charge Receivables
(excluding Interchange) 48,033,796.69
Beginning Discount Receivables 0.00
------------------
Beginning Receivables 3,932,257,125.90
A(2) Removed Principal Receivables 0.00
Removed Finance Charge Receivables (excluding Interchange) 0.00
------------------
Removed Receivables 0.00
A(3) Principal Receivables with respect to Additional Accounts 0.00
Finance Charge Receivables with respect to Additional
Accounts (excluding Interchange) 0.00
-----------------
Receivables with respect to Additional Accounts 0.00
A(4) Principal Receivables billed 384,072,047.57
Finance Charge Receivables billed (excluding
Interchange) 57,562,639.66
------------------
Receivables billed 441,634,687.23
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 349,127,735.35
Collections of Finance Charge Receivables
(excluding Interchange) 56,600,313.05
-------------------
Total Collections 405,728,048.40
A(7) Default Amount (excluding Recoveries) 24,411,857.62
A(8) Ending Principal Receivables 3,894,755,783.81
Ending Finance Charge Receivables
(excluding Interchange) 48,996,123.30
Ending Discount Receivables 0.00
-------------------
Ending Receivables 3,943,751,907.11
A(9) Beginning Aggregate Invested Amount 3,366,152,375.00
Beginning Aggregate Invested Percentage 86.66%
A(10) Beginning Transferor Amount 518,070,954.21
Net Change in Transferor Amount 10,532,454.60
-------------------
Ending Transferor Amount 528,603,408.81
Beginning Transferor Interest Percentage 13.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 3,092,046.85
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 23,681
60-89 Days Delinquent 14,641
90-119 Days Delinquent 10,304
120+ Days Delinquent 13,860
B(2) Defaulted Accounts 6,242
B(3) Delinquent Receivables
30-59 Days Delinquent 73,788,963.14
60-89 Days Delinquent 48,804,508.88
90-119 Days Delinquent 36,420,408.24
120+ Days Delinquent 53,736,655.60
B(4) Default Amount 21,403,337.81
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 8.07%
Base Rate (Prior Due Period) 7.89%
Base Rate (Two Due Periods Ago) 8.45%
Three Month Average Base Rate 8.14%
C(2) Portfolio Yield (Current Due Period) 12.87%
Portfolio Yield (Prior Due Period) 12.78%
Portfolio Yield (Two Due Periods Ago) 11.21%
Three Month Average Portfolio Yield 12.29%
D Series 1996-1 Invested Amount
D(1) Class A Initial Invested Amount 756,000,000.00
Class B Initial Invested Amount 58,500,000.00
Collateral Initial Indebtedness Amount 85,500,000.00
-------------------
Initial Invested Amount 900,000,000.00
D(2) Class A Investor Amount as of the beginning of the
Due Period 756,000,000.00
Class B Investor Amount as of the beginning of the
Due Period 58,500,000.00
-------------------
Investor Amount 900,000,000.00
D(3) Class A Invested Amount at the end of revolving period N/A
Class B Invested Amount at the end of revolving period N/A
Collateral Indebtedness Amount at the end of revolving period N/A
-------------------
Invested Amount at the end of revolving period N/A
D(4) Principal Funding Account Balance as of end of day on
preceding Distribution Date 0.00
Deposits to Principal Funding Account 0.00
Principal Funding Investment Proceeds 0.00
Withdrawals from Principal Funding Account 0.00
Allocation of Principal Funding Investment Proceeds 0.00
-------------------
Principal Funding Account Balance as of end of day on
current Distribution Date 0.00
D(5) Class A Invested Amount as of the beginning of the
Due Period 756,000,000.00
Class B Invested Amount as of the beginning of the
Due Period 58,500,000.00
Collateral Indebtedness Amount as of the beginning
of the Due Period 85,500,000.00
-------------------
Invested Amount as of the beginning of the Due Period 900,000,000.00
D(6) Required Enhancement Amount 85,500,000.00
Enhancement Surplus 5,532,864.36
Available Enhancement Amount 85,500,000.00
D(7) Floating Allocation Percentage 23.17%
D(8) Fixed Allocation Percentage N/A
E Servicing Fee Calculation
E(1) Servicing Base Amount 900,000,000.00
E(2) Servicer Interchange 562,500.00
Class A Servicing Fee 787,500.00
Class B Servicing Fee 60,937.50
Collateral Servicing Fee 89,062.50
-------------------
Subtotal 1,500,000.00
Investor Monthly Servicing Fee 1,500,000.00
-------------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 4,959,153.37
E(4)
F Reserve Account
F(1) Reserve Account Balance as of end of day on preceding
Distribution Date 0.00
Deposits to Reserve Account 0.00
Interest earnings on Reserve Account 0.00
Withdrawals from Reserve Account 0.00
-------------------
Reserve Account Balance as of end of day on current
Distribution Date 0.00
F(2) Required Reserve Account Amount 0.00
F(3) Available Reserve Account Amount 0.00
F(4) Reserve Draw Amount 0.00
F(5) Reserve Account Surplus 0.00
F(6) Covered Amount N/A
G Cash Collateral Account
G(1) Initial Cash Collateral Amount 0.00
G(2) Cash Collateral Account balance as of end of day on
preceding Distribution Date 5,532,864.36
Deposits to Cash Collateral Account (Net of Investment
Earnings) 3,581,451.21
Investment Earnings on Cash Collateral Account 15,723.36
Withdrawals from Cash Collateral Account 0.00
-------------------
Cash Collateral Account balance as of end of day on
current Distribution Date 9,130,038.93
G(3) Cash Enhancement Surplus 0.00
G(4) Available Cash Collateral Amount 5,532,864.36
Required Cash Collateral Amount 20,250,000.00
Required Cash Collateral Percentage 2.25%
G(5) Required Draw Amount 0.00
H Interest Funding Account
H(1) Interest Funding Account balance as of end of day on
preceding Distribution Date 8,322,762.50
Deposits to Interest Funding Account 4,097,360.00
Interest Funding Investment Proceeds 27,097.08
Withdrawals from Interest Funding Account (27,097.08)
-------------------
Interest Funding Account balance as of end of day on
current Distribution Date 12,420,122.50
I Class A Available Funds
I(1) Class A Floating Percentage 19.46%
I(2) Principal Funding Investment Proceeds (if applicable to Class A) 0.00
Cash Collateral Account Investment Proceeds 13,205.72
Interest Funding Account Investment Proceeds 22,758.27
Class A Finance Charge Collections (excluding Interchange) 014,420.92
Class A allocation of Servicer Interchange 601,712.32
Reserve Draw Amount (if applicable to Class A) 0.00
-------------------
Class A Available Funds 11,652,097.23
I(3) Class A Monthly Interest 3,796,800.00
-------------------
Class A Interest Shortfall 0.00
I(4) Class A Additional Interest 0.00
Class A Servicing Fee 787,500.00
Class A allocation of Servicer Interchange 472,500.00
Class A Investor Default Amount 4,165,089.54
I(5) Distribution of Class A Available Funds
Class A Monthly Interest plus amounts previously
due but not distributed 3,796,800.00
Class A Additional Interest plus amounts
previously due but not distributed 0.00
Class A Servicing Fee plus amounts previously due
but not distributed 787,500.00
Class A allocation of Servicer Interchange 472,500.00
Class A Investor Default Amount 4,165,089.54
------------------
Total Class A Excess Spread 2,430,207.69
I(6) Class A Required Amount 0.00
J Class B Available Funds
J(1) Class B Floating Percentage 1.51%
J(2) Principal Funding Investment Proceeds (if applicable to Class B) 0.00
Cash Collateral Account Investment Proceeds 1,024.70
Interest Funding Account Investment Proceeds 1,765.93
Class B Finance Charge Collections (excluding Interchange) 854,664.73
Class B allocation of Servicer Interchange 46,689.91
Reserve Draw Amount (if applicable to Class B) 0.00
-------------------
Class B Available Funds 904,145.26
J(3) Class B Monthly Interest 300,560.00
-------------------
Class B Interest Shortfall 0.00
J(4) Class B Additional Interest 0.00
Class B Servicing Fee 60,937.50
Class B allocation of Servicer Interchange 36,562.50
J(5) Distribution of Class B Available Funds
Class B Monthly Interest plus amounts previously
due but not distributed 300,560.00
Class B Additional Interest plus amounts previously
due but not distributed 0.00
Class B Servicing Fee plus amounts previously due
but not distributed 60,937.50
Class B allocation of Servicer Interchange 36,562.50
-------------------
Total Class B Excess Spread 506,085.26
J(6) Class B Investor Default Amount 323,190.40
Class B Required Amount 0.00
K Collateral Available Funds
K(1) Collateral Floating Percentage 2.20%
K(2) Collateral Finance Charge Collections 1,245,206.89
Collateral allocation of Interest Funding Account Proceeds 2,572.88
Collateral allocation of Servicer Interchange 68,025.03
Collateral allocation of Cash Collateral Account
Investment Proceeds 1,492.94
------------------
Collateral Available Funds 1,317,297.73
K(3) Collateral Monthly Interest 457,662.88
------------------
Collateral Interest Shortfall 0.00
K(4) Collateral Additional Interest 0.00
Collateral Servicing Fee 89,062.50
Collateral allocation of Servicer Interchange 53,437.50
K(5) Distribution of Collateral Available Funds
Collateral Servicing Fee plus amounts previously due
but not distributed 89,062.50
Collateral allocation of Servicer Interchange 53,437.50
-------------------
Total Collateral Excess Spread 1,174,797.73
K(6) Collateral Investor Default Amount 470,873.43
K(7) Collateral Required Amount 0.00
L Excess Spread and Excess Finance Charge Collections
L(1) Total Excess Spread 4,111,090.69
Excess Finance Charge Collections allocated from
other series 737,810.59
-------------------
Subtotal 4,848,901.28
L(2) Applied to Class A Monthly Interest & Additional Interest 0.00
Applied to Class A Servicing Fee 0.00
Applied to Class A Investor Default Amount 0.00
Applied to Class A Investor Charge Offs 0.00
Applied to Class B Monthly Interest & Additional Interest 0.00
Applied to Class B Servicing Fee 0.00
Applied to Class B Investor Default Amount 323,190.40
Applied to Class B Invested Amount reductions 0.00
Applied to Collateral Servicing Fee 0.00
Applied to Collateral Monthly Interest & Additional Interest 457,662.88
Applied to Collateral Default Amount 470,873.43
Applied to Collateral Indebtedness Amount reductions 0.00
Applied to Cash Collateral Account 0.00
Applied to Other Amount Due to Collateral Indebtedness Holder 0.00
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 3,597,174.57
-------------------
Total Excess Finance Charge Collections 0.00
L(3) Finance Charge Shortfall 11,857,771.66
L(4) Portion of Reallocated Principal Collections applied
to Required Amount 0.00
M Principal Collections
M(1) Collections of Principal Receivables allocable to
Series 1996-1 85,852,049.65
Excess Principal Collections with respect to other Series 0.00
------------------
Subtotal 85,852,049.65
M(2) Class A Fixed Percentage N/A
Class A Monthly Principal 0.00
M(3) Class B Fixed Percentage N/A
Class B Monthly Principal 0.00
M(4) Collateral Fixed Percentage N/A
Collateral Monthly Principal 0.00
M(5) Allocation of Principal Collections
Deposit to Principal Funding Account 0.00
Distribution to Collateral Indebtedness Holder 0.00
Excess Principal Collections 85,852,049.65
-------------------
Principal Shortfall 0.00
M(6) Class B Subordinated Principal Collections 5,595,019.20
Collateral Subordinated Principal Collections 8,151,683.61
-------------------
Total Subordinated Principal Collections 13,746,702.81
M(7) Reallocated Principal Collections pursuant to Section 4.9(a) 0.00
Reallocated Principal Collections pursuant to Section 4.9(b) 0.00
Reallocated Principal Collections pursuant to Section 4.9(c) 0.00
-------------------
Total Reallocated Principal Collections 0.00
N Accumulation Period
N(1) Controlled Accumulation Amount (Class A) N/A
Deficit Controlled Accumulation Amount (Class A) N/A
Controlled Deposit Amount (Class A) 0.00
N(2) Controlled Accumulation Amount (Class B) N/A
Deficit Controlled Accumulation Amount (Class B) N/A
-------------------
Controlled Deposit Amount (Class B) 0.00
N(3) Accumulation Period Factor 1.19
Monthly Payment Rate 8.99%
Required Accumulation Factor Number 12.00
Accumulation Period Length N/A
O Investor Charge Offs
O(1) Class A Investor Charge Offs 0.00
Class B Investor Charge Offs 0.00
O(2) The amount of reimbursed Class A Investor Charge Offs 0.00
The amount of reimbursed Class B Investor Charge Offs 0.00
O(3) The amount, if any, by which the outstanding principal
balance of the Certificates exceeds the Invested Amount
after giving effect to all transactions on the Distribution
Date
Class A 0.00
Class B 0.00
P Distributions to Class A Certificateholders (per $1,000
original principal amount)
P(1) Total distribution to Class A Certificateholders 5.02
Amount with respect to interest 5.02
Amount with respect to principal 0.00
P(2) Class A Investor Charge Offs 0.00
P(3) The amount of reimbursed Class A Investor Charge Offs 0.00
Q Distributions to Class B Certificateholders (per $1,000
original principal amount)
Q(1) Total distribution to Class B Certificateholders 5.14
Amount with respect to interest 5.14
Amount with respect to principal 0.00
Q(2) Class B Investor Charge Offs 0.00
Q(3) The amount of reimbursed Class B Investor Charge Offs 0.00
R Distributions to Collateral Indebtedness Holders
(per $1,000 original principal amount)
R(1) Total distribution to Collateral Indebtednness Holders 5.35
Amount with respect to interest 5.35
Amount with respect to principal 0.00
R(2) Collateral Investor Charge Offs 0.00
R(3) The amount of reimbursed Collateral Investor Charge Offs 0.00
NATIONSBANK OF DELAWARE, N.A.
as Servicer
By: /s/ Mark Palardy
-----------------
Name: Mark Palardy
Vice President
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