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
December 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 11/30/96.
Ex-2 Distribution Date Statement for Collection
Period ending 11/30/96.
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: December 18, 1996
By: /s/Richard H. Schumacher
Name: Richard H. Schumacher
Title: President and Treasurer
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DFS FLOORPLAN RECEIVABLES L.P.
SERIES 1994-1 & 1996-1
COMPLIANCE/STATISTICAL REPORTING
PERIOD ENDING 11/30/96
<TABLE>
<CAPTION>
1. CALCULATION OF POOL BALANCE
<S> <C>
TOTAL "OFFICE" RECEIVABLES 3,528,015,242.81
LESS INELIGIBLE ACCOUNTS
BANKRUPT/CHARGED OFF A/C'S 0.00
NEW ACCOUNT ADDITIONS FP (125,092,733.14)
NEW ACCOUNT ADDITIONS A/R (19,725,220.09)
TOTAL "TRUST" RECEIVABLES 3,383,197,289.58
LESS INELIGIBLE RECEIVABLES
SAU/NSF 0-30 IN EXCESS
OF .75% OF TRUST REC. 0.00
TOTAL POOL RECEIVABLES 3,383,197,289.58
TOTAL TRUST RECEIVABLES-DELINQUENCY
NSF 0-30 33,736.73
SAU 0-30 9,349,290.41
TOTAL 9,383,027.14
.75% OF TRUST REC. 25,373,979.67
AMOUNT IN EXCESS 0.00
NSF 30+ 53,752.61
SAU 30+ 4,877,990.71
2. CONCENTRATION COMPLIANCE
POOL BALANCE 3,383,197,289.58
</TABLE>
<TABLE>
<CAPTION>
CONCENTRATION ACTUAL EXCESS
LIMITS AMOUNT AMOUNT
<S> <C> <C> <C> <C>
A/R RECEIVABLES 20% 676,639,457.92 256,932,593.82 0.00
ASSET BASED RECEIVABLES 15% 507,479,593.44 169,375,220.70 0.00
DEALER CONCENTRATION 1994-1 3% 101,495,918.69 58,434,867.11 0.00
DLR CONCENTRATION 1996-1 TO 3% 101,495,918.69 58,434,867.11 0.00
DLR CONCENTRATION 1996-1 OT 2% 67,663,945.79 11,122,405.98 0.00
MFG CONCENTRATION 15% 507,479,593.44 181,891,014.16 0.00
PRODUCT LINE CONCENTRATION
CE 25% 845,799,322.40 90,760,741.91 0.00
MIS 40%1,353,278,915.83 741,900,243.71 0.00
MTR 25% 845,799,322.40 198,444,416.08 0.00
MAR 25% 845,799,322.40 413,945,797.24 0.00
MH 25% 845,799,322.40 489,260,714.97 0.00
RV 25% 845,799,322.40 388,814,545.75 0.00
MUS 25% 845,799,322.40 87,930,839.20 0.00
IND/AG 25% 845,799,322.40 292,985,642.04 0.00
A/R 25% 845,799,322.40 426,307,814.52 0.00
SNO 25% 845,799,322.40 132,338,747.15 0.00
OTHER 25% 845,799,322.40 120,507,787.01 0.00
UNSECURED RECEIVABLES OVER CONCEN.
(without duplication)
UNSECURED CONCEN. 86,316,121.23
LESS: UNSECRURED DEALER CONCEN. (33,437,733.44)
NET UNSECURED DEALER CONCEN 3% 101,495,918.69 52,878,387.79
UNSECURED DEALER CONCEN. 0.50% 16,915,986.45 33,437,733.44 16,521,746.99
TOTAL OVER CONCENTRATION 16,521,746.99
DELAYED FUNDING RECEIVABLES 336,922,128.95
</TABLE>
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<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
THREE
CHARGE OFFS TO RECEIVABLES SEPTEMBER OCTOBER NOVEMBER MO. AVE.
(ANNUALIZED)
0.63% 0.03% 0.26% 0.31%
PAYMENT RATE 50.20% 45.56% 44.38% 46.71%
NET RECEIVABLE RATE
INTEREST 8.04%
DISCOUNT 2.13%
TOTAL 10.17%
LESS SERVICING -2.00%
REMAINING 8.17%
</TABLE>
<PAGE>
DFS FLOORPLAN RECEIVABLES L.P.
DISTRIBUTION DATE STATEMENT
REPORT DATE 11/30/96
COLLECTION PERIOD 11/1/96 -11/30/96
DISTRIBUTION DATE 12/16/96
<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 PRIN. 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 10,487,360.50
REQUIRED SUBORDINATED AMOUNT 109,388,459.40 98,901,098.90 0.00 0.00 0.00
REQUIRED SUBORDINATED DRAW AMOUNT 0.00
AVAILABLE SUBORDINATED AMOUNT 109,388,459.40 98,901,098.90 0.00 0.00 0.00
BEGINNING OF MO. PRIN. REC. 3,411,941,182.33
DISCOUNT RATE 0.40%
BEGINNING OF MO. POOL BALANCE 3,398,293,417.60
PRIN. ALLOCATION PERCENTAGE 60.57% 29.43% 29.43% 0.93% 0.78%
FLOATING ALLOCATION PERCENTAGE 60.57% 29.43% 29.43% 0.93% 0.78%
SELLER'S PERCENTAGE 39.43% 70.57% 70.57% 99.07% 99.22%
EXCESS SELLER'S PERCENTAGE 36.22% 67.66% 70.57% 99.07% 99.22%
PRIN. COLLECTIONS 1,514,270,181.14
NON-PRIN. COLLECTIONS 22,894,283.00
TOTAL COLLECTIONS 1,537,164,464.14
COLLECTION ACCOUNT BALANCE 11/1/96 4,807,419.72 4,807,419.72 0.00 0.00 0.00
DEPOSITS 11/14/96
INVESTOR NON-PRIN. COLLECTION 4,979,755.16 0.00 4,687,500.00 153,774.53 138,480.63
OTHER-INVESTMENT EARNINGS 118,707.30 28,775.04 89,932.26 0.00 0.00
DISBURSEMENTS 11/15/96
INT. AMOUNT (4,807,419.72) (4,807,419.72) 0.00 0.00 0.00
SERVICING FEE
EXCESS AMOUNT (118,707.30) (28,775.04) (89,932.26) 0.00 0.00
COLLECTION ACCOUNT BALANCE 11/30/96 4,979,755.16 (0.00) 4,687,500.00 153,774.53 138,480.63
INVESTOR INT. TO BE FUNDED 12/13/96 9,946,441.43 4,800,694.44 4,843,750.00 158,900.35 143,096.64
DISBURSEMENTS 12/16/96
INT. AMOUNT (4,800,694.44) (4,800,694.44) 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 (4,800,694.44) (4,800,694.44) 0.00 0.00 0.00
CONTROLLED DISBURSEMENT AMOUNT N/A
RESERVE FUND BALANCE 23,664,060.00
DEFAULTED RECEIVABLES 718,389.51
INVESTOR DEFAULT AMOUNT 435,098.23
DRAW AMOUNT-PRECED. COLLECTION PD. 0.00
INVESTOR CHARGE OFFS 0.00
AMOUNT OF REIMBURSEMENT 0.00
END OF MO. PRIN. RECEIVABLES 3,383,197,289.58
DISCOUNT RATE 0.04%
END OF MO. POOL BALANCE 3,369,664,500.42
INVESTORS COUPON RATE 5.57500% 5.62500% 5.81250% 6.28125%
</TABLE>
