<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): June 16, 1997
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>
Exhibit Index appears on Page 4
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
$500,000,000 Class A 6.0% Asset Backed
Certificates, Series 1993-2
99B Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$31,915,000 Class B 6.25% Asset Backed
Certificates, Series 1993-2
99C Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$1,000,000,000 Class A 6.45% Asset Backed
Certificates, Series 1995-1
99D Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$51,137,000 Class B 6.625% Asset Backed
Certificates, Series 1995-1
99E Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$85,228,000 Collateral Indebtedness
Interest, Series 1995-1
99F Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$756,000,000 Class A 5.71250% Asset Backed
Certificates, Series 1996-1
99G Monthly Certificateholder's Statement --
NationsBank Credit Card Master Trust
$58,500,000 Class B 5.84250% Asset Backed
Certificates, Series 1996-1
<PAGE>
99H 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:___________ 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
$500,000,000 Class A 6.0% Asset Backed 5 - 10
Certificates, Series 1993-2
99B Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust A & B
$31,915,000 Class B 6.25% Asset Backed 5 - 10
Certificates, Series 1993-2
99C Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust C, D, & E
$1,000,000,000 Class A 6.45% Asset Backed 11 - 16
Certificates, Series 1995-1
99D Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust C, D, & E
$51,137,000 Class B 6.625% Asset Backed 11 - 16
Certificates, Series 1995-1
99E Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust C, D, & E
$85,228,000 Collateral Indebtedness 11 - 16
Interest, Series 1995-1
99F Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust F, G, & H
$756,000,000 Class A 5.71250% Asset Backed 17 - 23
Certificates, Series 1996-1
99G Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust F, G, & H
$58,500,000 Class B 5.84250% Asset Backed 17 - 23
Certificates, Series 1996-1
99H Monthly Certificateholder's Statement -- Exhibit 99
NationsBank Credit Card Master Trust F, G, & H
$76,500,000 Collateral Indebtedness 17 - 23
Interest, Series 1996-1
<PAGE>
<TABLE>
Statement to Certificateholders Exhibit A & B
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
<CAPTION>
<S> <C>
Due Period May-97
Determination Date 09-Jun-97
Transfer Date 13-Jun-97
Distribution Date 16-Jun-97
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 4,124,729,648.99
Beginning Finance Charge Receivables
(excluding Interchange) 47,154,208.84
Beginning Discount Receivables 0.00
----------------------
Beginning Receivables 4,171,883,857.83
A(2) Removed Principal Receivables 195,898,245.40
Removed Finance Charge Receivables
(excluding Interchange) 2,781,516.67
----------------------
Removed Receivables 198,679,762.07
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) Pincipal Receivables billed 670,589,474.35
Finance Charge Receivables billed (excluding
Interchange) 55,823,596.63
----------------------
Receivables billed 726,413,070.98
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 683,542,532.55
Collections of Finance Charge Receivables
(excluding Interchange) 56,923,583.34
----------------------
Total Collections 740,466,115.89
A(7) Default Amount 27,589,791.58
A(8) Ending Principal Receivables 3,888,288,553.81
Ending Finance Charge Receivables 43,272,705.46
Ending Discount Receivables 0.00
----------------------
Ending Receivables 3,931,561,259.27
A(9) Beginning Aggregate Invested Amount 2,559,279,375.00
Beginning Aggregate Invested Percentage 62.05%
A(10) Beginning Transferor Amount 1,565,450,273.99
Net Change in Transferor Amount (236,441,095.18)
----------------------
Ending Transferor Amount 1,329,009,178.81
Beginning Transferor Interest Percentage 37.95%
A(11) Collections of Finance Charge Receivables
allocable to Interchange 6,939,623.45
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 20,806
60-89 Days Delinquent 13,019
90-119 Days Delinquent 9,794
120+ Days Delinquent 13,999
B(2) Defaulted Accounts 6,810
B(3) Delinquent Receivables
30-59 Days Delinquent 71,022,638.45
60-89 Days Delinquent 47,063,433.36
90-119 Days Delinquent 38,510,074.44
120+ Days Delinquent 56,998,018.15
B(4) Default Amount 22,782,664.40
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) 11.96%
Portfolio Yield (Prior Due Period) 11.53%
Portfolio Yield (Two Due Periods Ago) 11.60%
Three Month Average Portfolio Yield 11.70%
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 12.90%
D(8) Principal Allocation Percentage 12.90%
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 2,938,963.71
E(4) Monthly Cash Collateral Fee 9,273.15
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) 6,902,553.72
Class A allocation of Servicer Interchange 841,498.74
Reserve Draw Amount (if applicable to Class A) 0.00
----------------------
Class A Available Funds 7,744,052.46
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 312,500.07
Class A Investor Default Amount 2,762,625.89
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 312,500.07
Class A Investor Default Amount 2,762,625.89
----------------------
Total Class A Excess Spread 1,648,093.06
H6) 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) 440,588.54
Class B allocation of Servicer Interchange 53,712.69
Reserve Draw Amount (if applicable to Class B) 0.00
----------------------
Class B Available Funds 494,301.23
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 19,946.81
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 19,946.81
----------------------
Total Class B Excess Spread 274,885.77
I(6) Class B Investor Default Amount 176,337.82
J Excess Spread and Excess Finance Charge Collections
J(1) Total Excess Spread 1,922,978.83
Excess Finance Charge Collections allocated from
other series 0.00
----------------------
Subtotal 1,922,978.83
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 176,337.82
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 9,273.15
Applied to Reserve Account 0.00
Applied to Cash Collateral Depositor 0.00
----------------------
Total Excess Finance Charge Collections 1,737,367.86
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 88,176,986.70
Excess Principal Collections with respect to
other Series 0.00
----------------------
Subtotal 88,176,986.70
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 88,176,986.70
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/ Beth Shapcott
-----------------
Name: Beth Shapcott
Vice President
Statement to Certificateholders Exhibit C, D, & E
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 May-97
Determination Date 09-Jun-97
Transfer Date 13-Jun-97
Distribution Date 16-Jun-97
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 4,124,729,648.99
Beginning Finance Charge Receivables (excluding
Interchange) 47,154,208.84
Beginning Discount Receivables 0.00
----------------------
Beginning Receivables 4,171,883,857.83
A(2) Removed Principal Receivables 195,898,245.40
Removed Finance Charge Receivables (excluding
Interchange) 2,781,516.67
----------------------
Removed Receivables 198,679,762.07
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 670,589,474.35
Finance Charge Receivables billed (excluding
Interchange) 55,823,596.63
----------------------
Receivables billed 726,413,070.98
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 683,542,532.55
Collections of Finance Charge Receivables
(excluding Interchange) 56,923,583.34
----------------------
Total Collections 740,466,115.89
A(7) Default Amount (excluding Recoveries) 27,589,791.58
A(8) Ending Principal Receivables 3,888,288,553.81
Ending Finance Charge Receivables (excluding
Interchange) 43,272,705.46
Ending Discount Receivables 0.00
----------------------
Ending Receivables 3,931,561,259.27
A(9) Beginning Aggregate Invested Amount 2,559,279,375.00
Beginning Aggregate Invested Percentage 62.05%
A(10) Beginning Transferor Amount 1,565,450,273.99
Net Change in Transferor Amount (236,441,095.18)
----------------------
Ending Transferor Amount 1,329,009,178.81
Beginning Transferor Interest Percentage 37.95%
A(11) Collections of Finance Charge Receivables
allocable to Interchange 6,939,623.45
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 20,806
60-89 Days Delinquent 13,019
90-119 Days Delinquent 9,794
120+ Days Delinquent 13,999
B(2) Defaulted Accounts 6,810
B(3) Delinquent Receivables
30-59 Days Delinquent 71,022,638.45
60-89 Days Delinquent 47,063,433.36
90-119 Days Delinquent 38,510,074.44
120+ Days Delinquent 56,998,018.15
B(4) Default Amount 22,782,664.40
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 8.48%
Base Rate (Prior Due Period) 8.44%
Base Rate (Two Due Periods Ago) 8.41%
Three Month Average Base Rate 8.44%
C(2) Portfolio Yield (Current Due Period) 12.09%
Portfolio Yield (Prior Due Period) 11.68%
Portfolio Yield (Two Due Periods Ago) 16.22%
Three Month Average Portfolio Yield 13.33%
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 22,727,346.90
Available Enhancement Amount 85,227,328.10
D(7) Floating Allocation Percentage 27.55%
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 710,227.74
Class A Servicing Fee 1,041,666.67
Class B Servicing Fee 53,267.71
Collateral Servicing Fee 88,778.52
----------------
Subtotal 1,893,940.64
Investor Monthly Servicing Fee 1,893,940.64
----------------
Shortfall of Servicer Interchange 0.00
E(3) Investor Default Amount 6,276,624.04
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
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 22,727,300.00
Deposits to Cash Collateral Account (Net of
Investment Earnings) 0.00
Investment Earnings on Cash Collateral Account 129,402.68
Withdrawals from Cash Collateral Account 129,402.68
-------------
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 22,727,300.00
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 24.24%
H(2) Principal Funding Investment Proceeds (if applicable
to Class A) 0.00
Cash Collateral Account Investment Proceeds 113,855.57
Class A Finance Charge Collections (excluding
Interchange) 13,798,276.60
Class A allocation of Servicer Interchange 1,682,164.72
Reserve Draw Amount (if applicable to Class A) 0.00
-------------
Class A Available Funds 15,594,296.89
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 5,522,517.85
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 5,522,517.85
------------
Total Class A Excess Spread 3,030,112.37
H(6) Class A Required Amount 0.00
I Class B Available Funds
I(1) Class B Floating Percentage 1.24%
I(2) Principal Funding Investment Proceeds (if applicable to Class B) 0.00
Cash Collateral Account Investment Proceeds 5,824.29
Class B Finance Charge Collections (excluding Interchange) 705,852.43
Class B allocation of Servicer Interchange 86,051.33
Reserve Draw Amount (if applicable to Class B) 0.00
----------
Class B Available Funds 797,728.05
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 430,180.86
I(6) Class B Investor Default Amount 282,505.04
Class B Required Amount 0.00
J Collateral Available Funds
J(1) Collateral Floating Percentage 2.07%
J(2) Collateral Finance Charge Collections 1,178,318.18
Collateral Allocation of Cash Collateral Account
Investment Proceeds 9,722.81
Collateral allocation of Servicer Interchange 143,650.21
------------
Collateral Available Funds 1,331,691.20
J(3) Collateral Monthly Interest 475,379.36
------------
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 1,189,645.57
J(6) Collateral Investor Default Amount 471,601.15
J(7) Collateral Required Amount 0.00
K Excess Spread and Excess Finance Charge Collections
K(1) Total Excess Spread 4,649,938.80
Excess Finance Charge Collections allocated from other series 0.00
------------
Subtotal 4,649,938.80
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 282,505.04
Applied to Class B Invested Amount reductions 0.00
Applied to Collateral Servicing Fee 0.00
Applied to Collateral Monthly Interest & Additional Interest 475,379.36
Applied to Collateral Default Amount 471,601.15
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 0.00
------------
Total Excess Finance Charge Collections 3,420,453.25
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 1995-1 188,315,967.72
Excess Principal Collections with respect to other Series 0.00
--------------
Subtotal 188,315,967.72
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 188,315,967.72
Principal Shortfall 0.00
L(6) Class B Subordinated Principal Collections 8,758,432.44
Collateral Subordinated Principal Collections 14,620,931.58
----------------
Total Subordinated Principal Collections 23,379,364.02
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 1.00
Monthly Payment Rate 16.5718%
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 5.58
Amount with respect to interest 5.58
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/ Beth Shapcott
------------------
Name: Beth Shapcott
Vice President
Statement to Certificateholderds Exhibit 99 F, G, & H
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 May-97
Determination Date 09-Jun-97
Transfer Date 13-Jun-97
Distribution Date 16-Jun-97
Interest Period 17-Mar-97 to 15-Jun-97
Interest Payment Date 16-Jun-97
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 4,124,729,648.99
Beginning Finance Charge Receivables (excluding
Interchange) 47,154,208.84
Beginning Discount Receivables 0.00
----------------
Beginning Receivables 4,171,883,857.83
A(2) Removed Principal Receivables 195,898,245.40
Removed Finance Charge Receivables (excluding
Interchange) 2,781,516.67
-----------------
Removed Receivables 198,679,762.07
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 670,589,474.35
Finance Charge Receivables billed (excluding
Interchange) 55,823,596.63
----------------
Receivables billed 726,413,070.98
A(5) Discount Receivables Generated 0.00
A(6) Collections of Principal Receivables 683,542,532.55
Collections of Finance Charge Receivables (excluding
Interchange) 56,923,583.34
----------------
Total Collections 740,466,115.89
A(7) Default Amount (excluding Recoveries) 27,589,791.58
A(8) Ending Principal Receivables 3,888,288,553.81
Ending Finance Charge Receivables (excluding
Interchange) 43,272,705.46
Ending Discount Receivables 0.00
----------------
Ending Receivables 3,931,561,259.27
A(9) Beginning Aggregate Invested Amount 2,559,279,375.00
Beginning Aggregate Invested Percentage 62.05%
A(10) Beginning Transferor Amount 1,565,450,273.99
Net Change in Transferor Amount (236,441,095.18)
----------------
Ending Transferor Amount 1,329,009,178.81
Beginning Transferor Interest Percentage 37.95%
A(11) Collections of Finance Charge Receivables allocable
to Interchange 6,939,623.45
B Delinquencies and Losses for Due Period
B(1) Delinquent Accounts
30-59 Days Delinquent 20,806
60-89 Days Delinquent 13,019
90-119 Days Delinquent 9,794
120+ Days Delinquent 13,999
B(2) Defaulted Accounts 6,810
B(3) Delinquent Receivables
30-59 Days Delinquent 71,022,638.45
60-89 Days Delinquent 47,063,433.36
90-119 Days Delinquent 38,510,074.44
120+ Days Delinquent 56,998,018.15
B(4) Default Amount 22,782,664.40
C Base Rate and Portfolio Yield
C(1) Base Rate (Current Due Period) 8.16%
Base Rate (Prior Due Period) 7.77%
Base Rate (Two Due Periods Ago) 7.56%
Three Month Average Base Rate 7.83%
C(2) Portfolio Yield (Current Due Period) 12.16%
Portfolio Yield (Prior Due Period) 11.71%
Portfolio Yield (Two Due Periods Ago) 11.78%
Three Month Average Portfolio Yield 11.88%
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 18,855,000.00
Available Enhancement Amount 84,645,000.00
D(7) Floating Allocation Percentage 21.60%
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 4,921,055.51
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 27,000,000.00
Deposits to Cash Collateral Account (Net of Investment
Earnings) 0.00
Investment Earnings on Cash Collateral Account 124,930.87
Withdrawals from Cash Collateral Account 124,930.87
----------------
Cash Collateral Account balance as of end of day on
current Distribution Date 27,000,000.00
G(3) Cash Enhancement Surplus 0.00
G(4) Available Cash Collateral Amount 27,000,000.00
Required Cash Collateral Amount 27,000,000.00
Required Cash Collateral Percentage 3.00%
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 7,637,937.19
Deposits to Interest Funding Account 4,142,610.00
Interest Funding Investment Proceeds 27,000.41
Withdrawals from Interest Funding Account (11,807,547.60)
----------------
Interest Funding Account balance as of end of day on
current Distribution Date 0.00
I Class A Available Funds
I(1) Class A Floating Percentage 18.33%
I(2) Principal Funding Investment Proceeds (if applicable
to Class A) 0.00
Cash Collateral Account Investment Proceeds 106,017.72
Interest Funding Account Investment Proceeds 22,912.85
Class A Finance Charge Collections (excluding
Interchange) 10,434,092.83
Class A allocation of Servicer Interchange 1,272,032.98
Reserve Draw Amount (if applicable to Class A) 0.00
----------------
Class A Available Funds 11,835,056.38
I(3) Class A Monthly Interest 3,838,800.00
----------------
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 4,176,062.39
I(5) Distribution of Class A Available Funds
Class A Monthly Interest plus amounts previously
due but not distributed 3,838,800.00
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 4,176,062.39
----------------
Total Class A Excess Spread 2,560,193.99
I(6) Class A Required Amount 0.00
J Class B Available Funds
J(1) Class B Floating Percentage 1.42%
J(2) Principal Funding Investment Proceeds (if applicable
to Class B) 0.00
Cash Collateral Account Investment Proceeds 8,213.05
Interest Funding Account Investment Proceeds 1,775.03
Class B Finance Charge Collections (excluding
Interchange) 808,314.88
Class B allocation of Servicer Interchange 98,542.65
Reserve Draw Amount (if applicable to Class B) 0.00
----------------
Class B Available Funds 916,845.61
J(3) Class B Monthly Interest 303,810.00
----------------
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 303,810.00
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 515,535.61
J(6) Class B Investor Default Amount 323,513.83
Class B Required Amount 0.00
K Collateral Available Funds
K(1) Collateral Floating Percentage 1.85%
K(2) Collateral Finance Charge Collections 1,053,086.29
Collateral allocation of Interest Funding Account
Proceeds 2,312.54
Collateral allocation of Servicer Interchange 128,383.03
Collateral allocation of Cash Collateral Account
Investment Proceeds 10,700.10
----------------
Collateral Available Funds 1,194,481.96
K(3) Collateral Monthly Interest 427,550.00
----------------
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 1,066,981.96
K(6) Collateral Investor Default Amount 421,479.29
K(7) Collateral Required Amount 0.00
L Excess Spread and Excess Finance Charge Collections
L(1) Total Excess Spread 4,142,711.56
Excess Finance Charge Collections allocated from other
series 0.00
----------------
Subtotal 4,142,711.56
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 323,513.83
Applied to Class B Invested Amount reductions 0.00
Applied to Collateral Servicing Fee 0.00
Applied to Collateral Monthly Interest & Additional
Interest 427,550.00
Applied to Collateral Default Amount 421,479.29
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 0.00
----------------
Total Excess Finance Charge Collections 2,970,168.44
L(3) Finance Charge Shortfall 0.00
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
1996-1 147,645,187.03
Excess Principal Collections with respect to other
Series 0.00
----------------
Subtotal 147,645,187.03
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 147,645,187.03
Principal Shortfall 0.00
M(6) Class B Subordinated Principal Collections 10,029,817.80
Collateral Subordinated Principal Collections 13,067,016.14
----------------
Total Subordinated Principal Collections 23,096,833.94
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 1.00
Monthly Payment Rate 16.5718%
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 5.08
Amount with respect to interest 5.08
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 5.19
Amount with respect to interest 5.19
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 5.00
Amount with respect to interest 5.00
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/ Beth Shapcott
---------------------
Name: Beth Shapcott
Vice President
</TABLE>
