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
January 15, 1998
(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
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, 1993 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
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 1991-1 and 1996-1 Compliance/Statistical
Reporting for period ending 12/31/97.
Ex-2 Distribution Date Statement for Collection Period
ending 12/31/97.
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: January 23, 1998
By: /s/ Richard H. Schumacher
Name: Richard H. Schumacher
Title: President and Treasurer
DFS FLOORPLAN RECEIVABLES L.P.
SERIES 1994-1 & 1996-1
COMPLIANCE/STATISTICAL REPORTING
PERIOD ENDING 12/31/97
<TABLE>
1. CALCULATION OF POOL BALANCE
<S> <C>
TOTAL "OFFICE" RECEIVABLES 4,218,213,896.72
LESS INELIGIBLE ACCOUNTS
BANKRUPT/CHARGED OFF A/C'S 0.00
NEW ACCOUNT ADDITIONS FP (960,297,148.18)
NEW ACCOUNT ADDITIONS A/R (349,102,463.20)
TOTAL "TRUST" RECEIVABLES 2,908,814,285.34
LESS INELIGIBLE RECEIVABLES
SAU/NSF 0-30 IN EXCESS
OF .75% OF TRUST REC. 0.00
TOTAL POOL RECEIVABLES 2,908,814,285.34
TOTAL TRUST RECEIVABLES-DELINQUENCY
NSF 0-30 19,836.37
SAU 0-30 9,386,167.65
TOTAL 9,406,004.02
.75% OF TRUST REC. 21,816,107.14
AMOUNT IN EXCESS 0.00
NSF 30+ 68,974.36
SAU 30+ 5,558,921.02
2. CONCEN. COMPLIANCE
POOL BALANCE 2,897,179,028.20
<CAPTION>
CONCENTRATION ACTUAL EXCESS
LIMITS AMOUNT AMOUNT
<S> <C> <C> <C> <C>
A/R RECEIVABLES 20% 579,435,805.64 192,046,463.53 0.00
ASSET BASED RECEIVABLES 15% 434,576,854.23 150,106,325.19 0.00
DLR. CONCEN. 1996-1 TOP 15 3% 86,915,370.85 93,616,710.10 6,701,339.25
DLR. CONCEN. 1996-1 OTHERS 2% 57,943,580.56 16,661,051.93 0.00
MFG. CONCEN. 15% 434,576,854.23 160,607,862.97 0.00
PRODUCT LINE CONCEN.
CE 25% 724,294,757.05 19,006,739.55 0.00
MIS 40%1,158,871,611.28 529,330,423.60 0.00
MTR 25% 724,294,757.05 187,775,617.70 0.00
MAR 25% 724,294,757.05 447,096,035.73 0.00
MH 25% 724,294,757.05 381,764,424.38 0.00
RV 25% 724,294,757.05 400,872,839.96 0.00
MUS 25% 724,294,757.05 79,671,291.24 0.00
IND/AG 25% 724,294,757.05 311,981,551.40 0.00
A/R 25% 724,294,757.05 342,152,788.72 0.00
SNO 25% 724,294,757.05 107,720,657.13 0.00
OTHER 25% 724,294,757.05 101,441,915.93 0.00
UNSECURED RECEIVABLES OVER CONCEN.
(without duplication)
UNSECURED CONCEN. 70,828,368.43
LESS: UNSECRURED DEALER CONCEN. (21,553,594.87)
NET UNSECURED DEALER CONCEN 3% 86,915,370.85 49,274,773.56
UNSECURED DEALER CONCEN. 0.50% 14,485,895.14 21,553,594.87 7,067,699.73
TOTAL OVER CONCENTRATION 13,769,038.98
DELAYED FUNDING RECEIVABLES 182,966,385.45
<CAPTION>
THREE
CHARGE OFFS TO RECEIVABLES OCTOBER NOVEMBER DECEMBER MO. AVE.
(ANNUALIZED)
<S> <C> <C> <C> <C>
0.13% 0.14% 0.30% 0.19%
PAYMENT RATE 42.29% 35.61% 38.00% 38.63%
NET RECEIVABLE RATE
INTEREST 8.34%
DISCOUNT 1.82%
TOTAL 10.16%
LESS SERVICING -2.00%
REMAINING 8.16%
</TABLE>
DFS FLOORPLAN RECEIVABLES L.P.
DISTRIBUTION DATE STATEMENT
REPORT DATE 12/31/97
COLLECTION PERIOD 12/1/97 -12/31/97
DISTRIBUTION DATE 01/15/98
<TABLE>
<CAPTION>
TOTAL TRUST SERIES 1994-1 SERIES 1996-1(A) SERIES 1996-1(B)SERIES 1996-1(C)
<S> <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
OUTSTANDING PRIN. BALANCE OF CERTIFICATES2,058,203,000.00 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 N/A 98,901,098.90 0.00 0.00 0.00
INCREMENTAL SUBORDINATED AMOUNT 13,769,038.98 5,310,347.44
REQUIRED SUBORDINATED AMOUNT N/A 104,211,446.34 0.00 0.00 0.00
REQUIRED SUBORDINATED DRAW AMOUNT N/A 0.00 0.00 0.00 0.00
AVAILABLE SUBORDINATED AMOUNT 109,325,123.63 104,211,446.34 4,832,416.17 153,414.72 127,846.40
BEGINNING OF MO. PRIN. RECEIVABLES 2,860,750,364.79
DISCOUNT RATE 0.40%
BEGINNING OF MO. POOL BALANCE 2,849,307,363.33
POOL FACTOR 100.00% 100.00% 100.00% 100.00% 100.00%
PRIN. ALLOCATION PERCENTAGE 72.24% 35.10% 35.10% 1.11% 0.93%
FLOATING ALLOCATION PERCENTAGE 72.24% 35.10% 35.10% 1.11% 0.93%
SELLER'S PERCENTAGE 27.76% 64.90% 64.90% 98.89% 99.07%
EXCESS SELLER'S PERCENTAGE 27.76% 61.25% 64.90% 98.89% 99.07%
PRIN. COLLECTIONS 1,087,149,499.59
NON-PRIN. COLLECTIONS 23,869,446.71
TOTAL COLLECTIONS 1,111,018,946.30
COLLECTION ACCOUNT BALANCE 12/1/97 5,689,441.06 0.00 5,355,909.17 175,708.82 157,823.07
DEPOSITS 35778
INVESTOR NON-PRIN. COLLECTION 9,406,571.21 4,579,166.67 4,544,407.78 149,086.28 133,910.48
OTHER-INVESTMENT EARNINGS 125,567.75 $10,694.44 114,873.31 0.00 0.00
DISBURSEMENT12/15/97
INTEREST AMOUNT (4,579,166.67) ($4,579,166.67) 0.00 0.00 0.00
SERVICING FEE
EXCESS AMOUNT (125,567.75) (10,694.44) (114,873.31) 0.00 0.00
COLLECTION ACCOUNT BALANCE 12/31/97 10,516,845.60 0.00 9,900,316.95 324,795.10 291,733.55
INVESTOR INTEREST TO BE FUNDED01/14/98 10,666,697.84 5,322,071.39 5,031,308.61 165,059.80 148,258.04
DISBURSEMENTS 01/15/98
INTEREST AMOUNT (21,183,543.44) (5,322,071.39) (14,931,625.56) (489,854.90) (439,991.59)
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 (21,183,543.44) (5,322,071.39) (14,931,625.56) (489,854.90) (439,991.59)
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
PRINCIPAL FUNDING ACCOUNT 0.00 0.00 0 0 0
INTEREST FUNDING ACCOUNT 0.00 0.00 0 0 0
SERVICING FEE 3,430,338.33 1,666,666.67 1,666,666.67 52,911.67 44,093.33
DEFAULTED RECEIVABLES 738,425.82
INVESTOR DEFAULT AMOUNT 533,403.40
DRAW AMOUNT - PREC. COLLECTION PERIOD 0.00
INVESTOR CHARGE OFFS 0.00
AMOUNT OF REIMBURSEMENT 0.00%
END OF MO. PRIN. RECEIVABLES 2,908,814,285.34
DISCOUNT RATE 0.00
END OF MO. POOL BALANCE 2,897,179,028.20
INVESTORS COUPON RATE 6.18047% 5.84281% 6.03781% 6.50781%
</TABLE>
