<PAGE>
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): November 15, 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 99 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
$85,227,375 Collateral Indebtedness
Interest, Series 1995-1
<PAGE>
99H Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$756,000,000 Class A 5.775% Asset Backed
Certificates, Series 1996-1
99I Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$58,500,000 Class 5.905% Asset Backed
Certificates, Series 1996-1
99J Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$76,500,000 Collateral Indebtedness
Interest, Series 1996-1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONSBANK OF DELAWARE, N.A.
-----------------------------
(Registrant)
Dated: November 26, 1996 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
$85,227,375 Collateral Indebtedness 18 - 23
Interest, Series 1995-1
99H Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust H,I,& J
$756,000,000 Class A 5.775% 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 5.905% Asset Backed 24 - 30
Certificates, Series 1996-1
99J Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust H,I & J
$76,500,000 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.
Due Period Oct-96
Determination Date 08-Nov-96
Transfer Date 14-Nov-96
Distribution Date 15-Nov-96
Amortization Period? Yes
Class A Accumulation Period? Yes
Class B Accumulation Period? No
Early Amortization Period? No
<CAPTION>
A Receivables for Due Period
<S><C> <S> <C>
A(1) Beginning Principal Receivables 3,829,581,293.25
Beginning Finance Charge Receivables (excluding
Interchange) 50,635,141.28
Beginning Discount Receivables 0.00
------------------
Beginning Receivables 3,880,216,434.53
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 423,509,974.57
Finance Charge Receivables billed (excluding
Interchange) 53,461,587.30
----------------
Receivables billed 476,971,561.87
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 403,177,760.54
Collections of Finance Charge Receivables (excluding
Interchange) 59,201,657.64
------------------
Total Collections 462,379,418.18
A(7) Default Amount (excluding Recoveries) 25,676,515.88
A(8) Ending Principal Receivables 3,824,236,991.40
Ending Finance Charge Receivables (excluding
Interchange) 44,895,070.94
Ending Discount Receivables 0.00
--------------------
Ending Receivables 3,869,132,062.34
A(9) Beginning Aggregate Invested Amount 3,357,152,375.00
Beginning Aggregate Invested Percentage 87.66%
A(10) Beginning Transferor Amount 472,428,918.25
Net Change in Transferor Amount (5,344,301.85)
-----------------
Ending Transferor Amount 467,084,616.40
Beginning Transferor Interest Percentage 12.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 2,724,775.91
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 26,144
60-89 Days Delinquent 14,936
90-119 Days Delinquent 10,652
120+ Days Delinquent 14,160
B(2) Defaulted Accounts 6,651
B(3) Delinquent Receivables
30-59 Days Delinquent 83,302,053.62
60-89 Days Delinquent 51,182,273.38
90-119 Days Delinquent 38,559,685.80
120+ Days Delinquent 54,580,050.26
B(4) Default Amount 22,351,841.24
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 5.19%
Base Rate (Prior Due Period) 5.35%
Base Rate (Two Due Periods Ago) 6.76%
Three Month Average Base Rate 5.77%
C(2) Portfolio Yield (Current Due Period) 11.67%
Portfolio Yield (Prior Due Period) 7.52%
Portfolio Yield (Two Due Periods Ago) 8.10%
Three Month Average Portfolio Yield 9.10%
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 625,000,000.00
Deposits to Principal Funding Account 62,500,000.00
Principal Funding Investment Proceeds 2,483,937.50
Withdrawals from Principal Funding Account 0.00
Allocation of Principal Funding Investment Proceeds 2,483,937.50
----------------
Principal Funding Account Balance as of end of day
on current Distribution Date 687,500,000.00
D(5) Class A Adjusted Invested Amount as of the beginning
of the Due Period 125,000,000.00
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 172,873,000.00
D(6) Enhancement Initial Invested Amount 0.00
Enhancement Invested Amount 0.00
D(7) Floating Allocation Percentage 4.51%
D(8) Principal Allocation Percentage 20.83%
E Servicing Fee Calculation
E(1) Servicing Base Amount 172,873,000.00
E(2) Servicer Interchange 108,045.62
Class A Servicing Fee 130,212.99
Class B Servicing Fee 49,863.06
---------------
Subtotal 288,121.67
Investor Monthly Servicing Fee 288,121.67
--------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 1,008,068.04
E(4) Monthly Cash Collateral Fee 11,437.35
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 33,199.50
Withdrawals from Reserve Account 33,199.50
--------------
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 2,473,958.33
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 72.31%
H(2) Principal Funding Investment Proceeds (if applicable
to Class A) 2,483,937.50
Class A Finance Charge Collections (excluding Interchange) 1,930,673.21
Class A allocation of Servicer Interchange 88,859.87
Reserve Draw Amount (if applicable to Class A) 0.00
-------------
Class A Available Funds 4,503,470.58
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 130,212.99
Class A allocation of Servicer Interchange 78,127.79
Class A Investor Default Amount 728,934.00
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 130,212.99
Class A allocation of Servicer Interchange 78,127.79
Class A Investor Default Amount 728,934.00
---------------
Total Class A Excess Spread 597,445.80
H(6) Required Amount 0.00
I Allocation of Class B Available Funds
I(1) Class B Floating Percentage 27.69%
I(2) Principal Funding Investment Proceeds (if applicable to Class B) 0.00
Class B Finance Charge Collections (excluding Interchange) 739,321.55
Class B allocation of Servicer Interchange 34,027.52
Reserve Draw Amount (if applicable to Class B) 0.00
------------
Class B Available Funds 773,349.07
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 49,863.06
Class B allocation of Servicer Interchange 29,917.84
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 49,863.06
Class B allocation of Servicer Interchange 29,917.84
--------------
Total Class B Excess Spread 499,084.11
I(6) Class B Investor Default Amount 279,134.04
J Excess Spread and Excess Finance Charge Collections
J(1) Total Excess Spread 1,096,529.91
Excess Finance Charge Collections allocated from other
series 3,489,288.63
----------------
Subtotal 4,585,818.54
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 279,134.04
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 11,437.35
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 4,295,247.15
Total Excess Finance Charge Collections 0.00
J(3) Finance Charge Shortfall 11,398,248.98
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 83,981,927.52
Excess Principal Collections with respect to other Series 0.00
--------------
Subtotal 83,981,927.52
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 21,481,927.52
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 Oct-96
Determination Date 08-Nov-96
Transfer Date 14-Nov-96
Distribution Date 15-Nov-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 3,829,581,293.25
Beginning Finance Charge Receivables (excluding
Interchange) 50,635,141.28
Beginning Discount Receivables 0.00
------------------
Beginning Receivables 3,880,216,434.53
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 423,509,974.57
Finance Charge Receivables billed (excluding Interchange) 53,461,587.30
---------------
Receivables billed 476,971,561.87
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 403,177,760.54
Collections of Finance Charge Receivables (excluding
Interchange) 59,201,657.64
------------------
Total Collections 462,379,418.18
A(7) Default Amount 25,676,515.88
A(8) Ending Principal Receivables 3,824,236,991.40
Ending Finance Charge Receivables
(excluding Interchange) 44,895,070.94
Ending Discount Receivables 0.00
-------------------
Ending Receivables 3,869,132,062.34
A(9) Beginning Aggregate Invested Amount 3,357,152,375.00
Beginning Aggregate Invested Percentage 87.66%
A(10) Beginning Transferor Amount 472,428,918.25
Net Change in Transferor Amount (5,344,301.85)
-----------------
Ending Transferor Amount 467,084,616.40
Beginning Transferor Interest Percentage 12.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 2,724,775.91
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 26,144
60-89 Days Delinquent 14,936
90-119 Days Delinquent 10,652
120+ Days Delinquent 14,160
B(2) Defaulted Accounts 6,651
B(3) Delinquent Receivables
30-59 Days Delinquent 83,302,053.62
60-89 Days Delinquent 51,182,273.38
90-119 Days Delinquent 38,559,685.80
120+ Days Delinquent 54,580,050.26
B(4) Default Amount 22,351,841.24
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) 12.40%
Portfolio Yield (Prior Due Period) 11.15%
Portfolio Yield (Two Due Periods Ago) 11.83%
Three Month Average Portfolio Yield 11.79%
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 13.89%
D(8) Principal Allocation Percentage 13.89%
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 3,104,670.75
E(4) Monthly Cash Collateral Fee 13,469.72
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 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) 7,729,723.63
Class A allocation of Servicer Interchange 355,763.09
Reserve Draw Amount (if applicable to Class A) 0.00
-------------
Class A Available Funds 8,085,486.72
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 2,918,390.51
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 Servicer Interchange 312,500.06
Class A Investor Default Amount 2,918,390.51
----------------
Total Class A Excess Spread 1,833,762.71
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) 493,386.61
Class B allocation of Servicer Interchange 22,708.28
Reserve Draw Amount (if applicable to Class B) 0.00
-----------
Class B Available Funds 516,094.89
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 296,679.42
I(6) Class B Investor Default Amount 186,280.25
J Excess Spread and Excess Finance Charge Collections
J(1) Total Excess Spread 2,130,442.13
Excess Finance Charge Collections allocated from other series 0.00
--------------
Subtotal 2,130,442.13
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 186,280.25
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 13,469.72
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 0.00
-------------
Total Excess Finance Charge Collections 1,930,692.16
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 56,001,390.94
Excess Principal Collections with respect to other Series 0.00
---------------
Subtotal 56,001,390.94
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 56,001,390.94
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 Exhibits 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 Oct-96
Determination Date 08-Nov-96
Transfer Date 14-Nov-96
Distribution Date 15-Nov-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 3,829,581,293.25
Beginning Finance Charge Receivables (excluding
Interchange) 50,635,141.28
Beginning Discount Receivables 0.00
------------------
Beginning Receivables 3,880,216,434.53
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 423,509,974.57
Finance Charge Receivables billed (excluding Interchange) 53,461,587.30
---------------
Receivables billed 476,971,561.87
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 403,177,760.54
Collections of Finance Charge Receivables (excluding
Interchange) 59,201,657.64
-----------------
Total Collections 462,379,418.18
A(7) Default Amount (excluding Recoveries) 25,676,515.88
A(8) Ending Principal Receivables 3,824,236,991.40
Ending Finance Charge Receivables (excluding Interchange) 44,895,070.94
Ending Discount Receivables 0.00
-----------------
Ending Receivables 3,869,132,062.34
A(9) Beginning Aggregate Invested Amount 3,357,152,375.00
Beginning Aggregate Invested Percentage 87.66%
A(10) Beginning Transferor Amount 472,428,918.25
Net Change in Transferor Amount (5,344,301.85)
----------------
Ending Transferor Amount 467,084,616.40
Beginning Transferor Interest Percentage 12.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 2,724,775.91
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 26,144
60-89 Days Delinquent 14,936
90-119 Days Delinquent 10,652
120+ Days Delinquent 14,160
B(2) Defaulted Accounts 6,651
B(3) Delinquent Receivables
30-59 Days Delinquent 83,302,053.62
60-89 Days Delinquent 51,182,273.38
90-119 Days Delinquent 38,559,685.80
120+ Days Delinquent 54,580,050.26
B(4) Default Amount 22,351,841.24
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 8.44%
Base Rate (Prior Due Period) 8.41%
Base Rate (Two Due Periods Ago) 8.45%
Three Month Average Base Rate 8.43%
C(2) Portfolio Yield (Current Due Period) 12.49%
Portfolio Yield (Prior Due Period) 11.31%
Portfolio Yield (Two Due Periods Ago) 12.36%
Three Month Average Portfolio Yield 12.05%
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 21,811,444.22
Available Enhancement Amount 85,227,328.10
D(7) Floating Allocation Percentage 29.68%
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 6,634,026.48
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 21,811,397.32
Deposits to Cash Collateral Account (Net of Investment
Earnings) 831,447.29
Investment Earnings on Cash Collateral Account 84,455.39
Withdrawals from Cash Collateral Account 0.00
----------------
Cash Collateral Account balance as of end of day on
current Distribution Date 22,727,300.00
G(3) Cash Enhancement Surplus 0.00
G(4) Available Cash Collateral Amount 21,811,397.32
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 26.11%
H(2) Principal Funding Investment Proceeds (if applicable to Class A) 0.00
Cash Collateral Account Investment Proceeds 74,296.84
Class A Finance Charge Collections (excluding Interchange) 15,457,552.81
Class A allocation of Servicer Interchange 711,438.99
Reserve Draw Amount (if applicable to Class A) 0.00 \
--------------
Class A Available Funds 16,243,288.64
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 5,836,065.75
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 5,836,065.75
--------------
Total Class A Excess Spread 3,365,556.22
H(6) Class A Required Amount 0.00
I Class B Available Funds
I(1) Class B Floating Percentage 1.34%
I(2) Principal Funding Investment Proceeds (if applicable to Class B) 0.00
Cash Collateral Account Investment Proceeds 3,813.01
Class B Finance Charge Collections (excluding Interchange) 793,302.21
Class B allocation of Servicer Interchange 36,512.00
Reserve Draw Amount (if applicable to Class B) 0.00
-----------
Class B Available Funds 833,627.22
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 466,080.03
I(6) Class B Investor Default Amount 299,514.67
Class B Required Amount 0.00
J Collateral Available Funds
J(1) Collateral Floating Percentage 2.23%
J(2) Collateral Finance Charge Collections 1,320,196.97
Collateral Allocation of Cash Collateral Account
Investment Proceeds 6,345.54
Collateral allocation of Servicer Interchange 60,762.50
----------------
Collateral Available Funds 1,387,305.01
J(3) Collateral Monthly Interest 437,589.30
Collateral Interest Shortfall 0.00
J(4) Collateral Additional Interest 0.00
Collateral Servicing Fee 88,778.52
Collateral allocation of Servicer Interchange 53,267.11
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 53,267.11
--------------
Total Collateral Excess Spread 1,245,259.38
J(6) Collateral Investor Default Amount 498,446.06
J(7) Collateral Required Amount 0.00
K Excess Spread and Excess Finance Charge Collections
K(1) Total Excess Spread 5,076,895.63
Excess Finance Charge Collections allocated from other series 0.00
---------------
Subtotal 5,076,895.63
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 299,514.67
Applied to Class B Invested Amount reductions 0.00
Applied to Collateral Servicing Fee 0.00
Applied to Collateral Monthly Interest & Additional Interest 437,589.30
Applied to Collateral Default Amount 498,446.06
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 915,902.68
--------------
Total Excess Finance Charge Collections 2,925,442.92
K(3) Finance Charge Shortfall 0.00
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 1995-1 119,663,159.33
Excess Principal Collections with respect to other Series 0.00
----------------
Subtotal 119,663,159.33
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 119,663,159.33
Principal Shortfall 0.00
L(6) Class B Subordinated Principal Collections 5,702,096.66
Collateral Subordinated Principal Collections 9,489,310.12
----------------
Total Subordinated Principal Collections 15,191,406.78
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 10.5280%
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 5.13
Amount with respect to interest 5.13
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
Title: Vice President
Statement to Certificateholders Exhibits 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
June 11, 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 Oct-96
Determination Date 08-Nov-96
Transfer Date 14-Nov-96
Distribution Date 15-Nov-96
Interest Period 16-Sep-96 to 15-Dec-96
Interest Payment Date 16-Dec-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 3,829,581,293.25
Beginning Finance Charge Receivables (excluding
Interchange) 50,635,141.28
Beginning Discount Receivables 0.00
-----------------
Beginning Receivables 3,880,216,434.53
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 423,509,974.57
Finance Charge Receivables billed (excluding Interchange) 53,461,587.30
--------------
Receivables billed 476,971,561.87
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 403,177,760.54
Collections of Finance Charge Receivables
(excluding Interchange) 59,201,657.64
-------------------
Total Collections 462,379,418.18
A(7) Default Amount (excluding Recoveries) 25,676,515.88
A(8) Ending Principal Receivables 3,824,236,991.40
Ending Finance Charge Receivables (excluding Interchange) 44,895,070.94
Ending Discount Receivables 0.00
---------------
Ending Receivables 3,869,132,062.34
A(9) Beginning Aggregate Invested Amount 3,357,152,375.00
Beginning Aggregate Invested Percentage 87.66%
A(10) Beginning Transferor Amount 472,428,918.25
Net Change in Transferor Amount (5,344,301.85)
------------------
Ending Transferor Amount 467,084,616.40
Beginning Transferor Interest Percentage 12.34%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 2,724,775.91
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 26,144
60-89 Days Delinquent 14,936
90-119 Days Delinquent 10,652
120+ Days Delinquent 14,160
B(2) Defaulted Accounts 6,651
B(3) Delinquent Receivables
30-59 Days Delinquent 83,302,053.62
60-89 Days Delinquent 51,182,273.38
90-119 Days Delinquent 38,559,685.80
120+ Days Delinquent 54,580,050.26
B(4) Default Amount 22,351,841.24
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 7.99%
Base Rate (Prior Due Period) 7.62%
Base Rate (Two Due Periods Ago) 8.07%
Three Month Average Base Rate 7.89%
C(2) Portfolio Yield (Current Due Period) 14.32%
Portfolio Yield (Prior Due Period) 12.06%
Portfolio Yield (Two Due Periods Ago) 12.87%
Three Month Average Portfolio Yield 13.08%
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 891,000,000.00
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 76,500,000.00
-----------------
Invested Amount as of the beginning of the Due Period 891,000,000.00
D(6) Required Enhancement Amount 84,645,000.00
Enhancement Surplus 4,312,774.15
Available Enhancement Amount 84,645,000.00
D(7) Floating Allocation Percentage 23.27%
D(8) Fixed Allocation Percentage N/A
E Servicing Fee Calculation
E(1) Servicing Base Amount 891,000,000.00
E(2) Servicer Interchange 556,875.00
Class A Servicing Fee 787,500.00
Class B Servicing Fee 60,937.50
Collateral Servicing Fee 79,687.50
----------------
Subtotal 1,485,000.00
Investor Monthly Servicing Fee 1,485,000.00
---------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 5,201,273.46
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 12,457,774.15
Deposits to Cash Collateral Account (Net of
Investment Earnings) 4,648,453.38
Investment Earnings on Cash Collateral Account 45,623.94
Withdrawals from Cash Collateral Account 0.00
----------------
Cash Collateral Account balance as of end of day on
current Distribution Date 17,151,851.47
G(3) Cash Enhancement Surplus 0.00
G(4) Available Cash Collateral Amount 12,457,774.15
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 3,795,248.13
Deposits to Interest Funding Account 4,056,989.38
Interest Funding Investment Proceeds 8,706.29
Withdrawals from Interest Funding Account (8,706.29)
--------------
Interest Funding Account balance as of end of day on
current Distribution Date 7,852,237.51
I Class A Available Funds
I(1) Class A Floating Percentage 19.74%
I(2) Principal Funding Investment Proceeds (if applicable to Class A) 0.00
Cash Collateral Account Investment Proceeds 38,702.90
Interest Funding Account Investment Proceeds 7,385.57
Class A Finance Charge Collections (excluding Interchange) 11,686,407.22
Class A allocation of Servicer Interchange 537,870.76
Reserve Draw Amount (if applicable to Class A) 0.00
-------------
Class A Available Funds 12,270,366.45
I(3) Class A Monthly Interest 3,759,525.00
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 4,412,253.46
I(5) Distribution of Class A Available Funds
Class A Monthly Interest plus amounts previously
due but not distributed 3,759,525.00
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 4,412,253.46
--------------
Total Class A Excess Spread 2,838,587.99
I(6) Class A Required Amount 0.00
J Class B Available Funds
J(1) Class B Floating Percentage 1.53%
J(2) Principal Funding Investment Proceeds (if applicable to Class B) 0.00
Cash Collateral Account Investment Proceeds 2,999.77
Interest Funding Account Investment Proceeds 572.44
Class B Finance Charge Collections (excluding Interchange) 905,785.36
Class B allocation of Servicer Interchange 41,689.07
Reserve Draw Amount (if applicable to Class B) 0.00
------------
Class B Available Funds 951,046.64
J(3) Class B Monthly Interest 297,464.38
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 297,464.38
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 556,082.26
J(6) Class B Investor Default Amount 341,983.17
Class B Required Amount 0.00
K Collateral Available Funds
K(1) Collateral Floating Percentage 2.00%
K(2) Collateral Finance Charge Collections 1,184,033.15
Collateral allocation of Interest Funding Account Proceeds 748.28
Collateral allocation of Servicer Interchange 54,495.52
Collateral allocation of Cash Collateral Account Investment
Proceeds 3,921.27
-------------
Collateral Available Funds 1,243,198.22
K(3) Collateral Monthly Interest 394,117.61
Collateral Interest Shortfall 0.00
K(4) Collateral Additional Interest 0.00
Collateral Servicing Fee 79,687.50
Collateral allocation of Servicer Interchange 47,812.50
K(5) Distribution of Collateral Available Funds
Collateral Servicing Fee plus amounts previously due
but not distributed 79,687.50
Collateral allocation of Servicer Interchange 47,812.50
---------------
Total Collateral Excess Spread 1,115,698.22
K(6) Collateral Investor Default Amount 447,036.82
K(7) Collateral Required Amount 0.00
L Excess Spread and Excess Finance Charge Collections
L(1) Total Excess Spread 4,510,368.47
Excess Finance Charge Collections allocated from
other series 1,366,846.45
----------------
Subtotal 5,877,214.92
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 341,983.17
Applied to Class B Invested Amount reductions 0.00
Applied to Collateral Servicing Fee 0.00
Applied to Collateral Monthly Interest & Additional Interest 394,117.61
Applied to Collateral Default Amount 447,036.82
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 4,694,077.32
---------------
Total Excess Finance Charge Collections 0.00
L(3) Finance Charge Shortfall 4,464,994.98
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 93,819,464.88
Excess Principal Collections with respect to other Series 0.00
-------------
Subtotal 93,819,464.88
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 93,819,464.88
Principal Shortfall 0.00
M(6) Class B Subordinated Principal Collections 6,510,602.91
Collateral Subordinated Principal Collections 8,510,592.04
----------------
Total Subordinated Principal Collections 15,021,194.95
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 1.98
Monthly Payment Rate 10.53%
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 4.97
Amount with respect to interest 4.97
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 5.08
Amount with respect to interest 5.08
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 5.15
Amount with respect to interest 5.15
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
Title: Vice President
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