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
November 15, 1996
(Date of earliest event reported)
DEUTSCHE FLOORPLAN RECEIVABLES, L.P.
(Exact name of registrant as specified in its amended charter)
Delaware 33-70814 88-0310100
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number identification No.)
655 Maryville Centre Drive
St. Louis, Missouri 63141-5832
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (314) 523-3000
<PAGE>
Item 5. Other Events.
On November 15, 1996 Deutsche Floorplan Receivables Master Trust made the
distributions to Certificateholders contemplated by the Pooling and Servicing
Agreement dated as of December 1, 1994 as amended and restated as of
March 1, 1994 as further amended as of January 24, 1996 and as amended and
restated as of October 1, 1996 (the "Agreement"), among Deutsche Floorplan
Receivables, L.P. as Seller, Deutsche Financial Services Corporation as
Servicer and The Chase Manhattan Bank as Trustee, as supplemented by the Series
Supplements for each of Series 1994-1 and Series 1996-1 in accordance with the
Agreement.
Copies of the monthly Certificateholders' Statements for such distributions
are being filed as Exhibits 1 and 2 to this Current Report on Form 8-K.
Item 7.(c). Exhibits.
Exhibit Description
Ex-1 Series 1994-1 and 1996-1 Compliance/Statistical
Reporting for period ending 10/31/96.
Ex-2 Distribution Date Statement for Collection
Period ending 10/31/96.
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.
DEUTSCHE FLOORPLAN RECEIVABLES, L.P.
(Registrant)
By: Deutsche Floorplan Receivables, Inc.
General Partner
Date: November 22, 1996
By: /s/ Richard H. Schumacher
Name: Richard H. Schumacher
Title: President and Treasurer
<PAGE>
DFS FLOORPLAN RECEIVABLES L.P.
SERIES 1994-1 & 1996-1
COMPLIANCE/STATISTICAL REPORTING
PERIOD ENDING 10/31/96
<TABLE>
<CAPTION>
1. CALCULATION OF POOL BALANCE
<S> <C>
TOTAL "OFFICE" RECEIVABLES 3,531,888,315.10
LESS INELIGIBLE ACCOUNTS
BANKRUPT/CHARGED OFF A/C'S 0.00
NEW ACCOUNT ADDITIONS FP (86,989,598.71)
NEW ACCOUNT ADDITIONS A/R (32,957,534.06)
TOTAL "TRUST" RECEIVABLES 3,411,941,182.33
LESS INELIGIBLE RECEIVABLES
SAU/NSF 0-30 IN EXCESS
OF .75% OF TRUST REC. 0.00
TOTAL POOL RECEIVABLES 3,411,941,182.33
TOTAL TRUST RECEIVABLES-DELINQUENCY
NSF 0-30 80,812.59
SAU 0-30 10,752,868.93
TOTAL 10,833,681.52
.75% OF TRUST REC. 25,589,558.87
AMOUNT IN EXCESS 0.00
NSF 30+ 46,568.51
SAU 30+ 4,527,361.00
2. CONCENTRATION COMPLIANCE
POOL BALANCE 3,411,941,182.33
</TABLE>
<TABLE>
<CAPTION>
CONCENTRATION ACTUAL EXCESS
LIMITS AMOUNT AMOUNT
<S> <C> <C> <C> <C>
A/R RECEIVABLES 20% 682,388,236.47 218,947,371.92 0.00
ASSET BASED RECEIVABLES 15% 511,791,177.35 175,560,559.00 0.00
DEALER CONCENTRATION 1994-1 3% 102,358,235.47 56,074,129.02 0.00
DLR CONCENTRATION 1996-1 TO 3% 102,358,235.47 56,074,129.02 0.00
DLR CONCENTRATION 1996-1 OT 2% 68,238,823.65 11,606,993.30 0.00
MFG CONCENTRATION 15% 511,791,177.35 146,908,978.00 0.00
PRODUCT LINE CONCENTRATION
CE 25% 852,985,295.58 90,318,097.61 0.00
MIS 40%1,364,776,472.93 855,886,706.20 0.00
MTR 25% 852,985,295.58 173,089,152.25 0.00
MAR 25% 852,985,295.58 378,613,450.46 0.00
MH 25% 852,985,295.58 491,841,388.90 0.00
RV 25% 852,985,295.58 390,220,424.53 0.00
MUS 25% 852,985,295.58 83,191,067.79 0.00
IND/AG 25% 852,985,295.58 297,957,499.40 0.00
A/R 25% 852,985,295.58 394,507,930.92 0.00
SNO 25% 852,985,295.58 132,334,360.51 0.00
OTHER 25% 852,985,295.58 123,981,103.75 0.00
UNSECURED RECEIVABLES OVER CONCEN.
(without duplication)
UNSECURED CONCEN. 91,360,258.79
LESS: UNSECRURED DEALER CONCEN. (32,228,239.13)
NET UNSECURED DEALER CONCEN 3% 102,358,235.47 59,132,019.66
UNSECURED DEALER CONCEN. 0.50% 17,059,705.91 32,228,239.13 15,168,533.22
TOTAL OVER CONCENTRATION 15,168,533.22
DELAYED FUNDING RECEIVABLES 385,929,394.30
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
THREE
CHARGE OFFS TO RECEIVABLES AUGUST SEPTEMBER OCTOBER MO. AVE.
(ANNUALIZED)
0.21% 0.63% 0.03% 0.29%
PAYMENT RATE 50.67% 50.20% 45.56% 48.81%
NET RECEIVABLE RATE
INTEREST 8.22%
DISCOUNT 2.19%
TOTAL 10.41%
LESS SERVICING -2.00%
REMAINING 8.41%
</TABLE>
<PAGE>
DFS FLOORPLAN RECEIVABLES L.P.
DISTRIBUTION DATE STATEMENT
REPORT DATE 10/31/96
COLLECTION PERIOD 10/1/96 -10/31/96
DISTRIBUTION DATE 11/15/96
<TABLE>
<CAPTION>
TOTAL TRUST SERIES 1994-1 SERIES 1996-1(A) SERIES 1996-1(B)SERIES 1996-1(C)
S> <C> <C> <C> <C> <C>
INVESTED AMOUNT 2,058,203,000.00 1,000,000,000.00 1,000,000,000.00 31,747,000.00 26,456,000.00
ALLOCATION PERCENTAGE 48.59% 48.59% 1.54% 1.29%
EXCESS FUNDING ACCOUNT BALANCE 0.00 0.00 0.00 0.00 0.00
O/S PRINCIPAL BALANCE OF CERTIFICATES 1,000,000,000.00 1,000,000,000.00 31,747,000.00 26,456,000.00
SUBORDINATION 9.8901% 0.00% 0.00% 0.00%
SUBORDINATED AMOUNT 98,901,098.90 98,901,098.90 0.00 0.00 0.00
INCREMENTAL SUBORDINATED AMOUNT 9,884,409.10
REQUIRED SUBORDINATED AMOUNT 108,785,508.00 98,901,098.90 0.00 0.00 0.00
REQUIRED SUBORDINATED DRAW AMOUNT 0.00
AVAILABLE SUBORDINATED AMOUNT 108,785,508.00 98,901,098.90 0.00 0.00 0.00
BEGINNING MO. PRINCIPAL RECEIVABLES 3,323,568,551.15
DISCOUNT RATE 0.40%
BEGINNING MO. POOL BALANCE 3,310,274,276.95
PRINCIPAL ALLOCATION PERCENTAGE 62.18% 30.21% 30.21% 0.96% 0.80%
FLOATING ALLOCATION PERCENTAGE 62.18% 30.21% 30.21% 0.96% 0.80%
SELLER'S PERCENTAGE 37.82% 69.79% 69.79% 99.04% 99.20%
EXCESS SELLER'S PERCENTAGE 34.54% 66.80% 69.79% 99.04% 99.20%
PRINCIPAL COLLECTIONS 1,514,270,301.48
NON-PRINCIPAL COLLECTIONS 19,537,562.12
TOTAL COLLECTIONS 1,533,807,863.60
COLLECTION ACCOUNT BALANCE 10/1/96 4,594,816.39 4,594,816.39 0.00 0.00 0.00
DEPOSITS 10/1 - 10/31
INVESTOR NON-PRINCIPAL COLL 4,807,419.72 4,807,419.72 0.00 0.00 0.00
OTHER-INVESTMENT EARNINGS 25,272.43 25,272.43 0.00 0.00 0.00
DISBURSEMENTS 10/15/96
INTEREST AMOUNT (4,594,816.39) (4,594,816.39) 0.00 0.00 0.00
SERVICING FEE
EXCESS AMOUNT (25,272.43) (25,272.43) 0.00 0.00 0.00
COLLECTION ACCOUNT BALANCE 10/31/96 4,807,419.72 4,807,419.72 0.00 0.00 0.00
INVESTOR INT. TO BE FUNDED 11/14/96 4,979,755.16 0.00 4,687,500.00 153,774.53 138,480.63
DISBURSEMENTS 11/15/96
INTEREST AMOUNT (4,807,416.72) (4,807,416.72) 0.00 0.00 0.00
SERVICING FEE 0.00 0.00 0.00 0.00 0.00
EXCESS AMOUNT 0.00 0.00 0.00 0.00 0.00
TOTAL DISTRIBUTIONS (4,807,416.72) (4,807,416.72) 0.00 0.00 0.00
CONTROLLED DISBURSEMENT AMOUNT N/A
RESERVE FUND BALANCE 23,664,060.00 2,500,000.00 20,000,000.00 634,940.00 529,120.00
DEFAULTED RECEIVABLES 89,036.32
INVESTOR DEFAULT AMOUNT 55,359.41
DRAW AMOUNT - PREC. COLLECTION PERIOD 0.00
INVESTOR CHARGE OFFS 0.00
AMOUNT OF REIMBURSEMENT 0.00
END OF MO. PRINCIPAL RECEIVABLES 3,411,941,182.33
DISCOUNT RATE 0.04%
END OF MO. POOL BALANCE 3,398,293,417.60
INVESTORS COUPON RATE 5.58210% 5.62500% 5.81250% 6.28125%
</TABLE>
