SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
Annual Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the fiscal year ended: December 31, 1996 Commission file numbers:33-63146,
33-73442, 33-84428, 33-99506
33-99508,33-90012
People's Bank
on behalf of
People's Bank Credit Card Master Trust
(Exact Name of Registrant as Specified in its Charter)
Connecticut 06-1213065
(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
850 Main Street
Bridgeport, Connecticut 06604
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (203) 338-7171
Securities registered pursuant to Section 12(b) of the Act:
None.
Securities registered pursuant to Section 12(g) of the Act:
Certificates (the "Certificates") representing undivided interests in certain
assets of the People's Bank Credit Card Master Trust. On June 30, 1993,
February 7, 1994, October 18, 1994, March 6, 1995 and December 7, 1995
Registration Statements on Form S-1, as amended, were filed with the
Securities and Exchange Commission (the "Commission") registering the
Certificates pursuant to Section 12(g) of the Securities Exchange Act
of 1934 (the "Act").
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 (the "Act") during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days.
Yes X No
State the aggregate market value of the voting stock held by non-affiliates
of the registrant. The aggregate market shall be computed by reference to
the price at which the stock was sold, or the average bid and asked priced
of such stock, as of a specified date within 60 days prior to the date of
filing. (See definition of affiliate in Rule 405, 17 C.F.R. 230.405):
Not Applicable.
PART I
Item 1. Business.
Omitted.
Item 2. Properties.
Omitted.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings
involving the People's Bank Credit Card Master Trust (the "Trust"),
People's Bank (in its capacity as transferor and servicer of
receivables transferred to the Trust) ("People's"), Bankers Trust
Company ( the "Trustee") (in its capacity as Trustee), or People's
Structured Finance Corp., a wholly owned special purpose subsidiary
of People's ("PSFC"), as holder of the Exchangeable Transferor
Certificate representing the undivided interest in the assets of
the Trust not represented by investor Certificates, other than
routine litigation incidental to the business of the Trust,
People's (in such capacity), the Trustee (in such capacity) or PSFC.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder
Matters.
(a) To People's knowledge, there is no established public trading
market for the Certificates. The Certificates are represented by
one or more certificates registered in the name of Cede & Co.
("Cede"), the nominee of The Depository Trust Company ("DTC"),
and PSFC.
Item 6. Selected Financial Data.
Omitted.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.
Omitted.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Omitted.
Item 11. Executive Compensation.
Omitted.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
The investor Certificates are represented by one or more
certificates registered in the name of Cede, the nominee of DTC,
and an investor holding an interest in the Trust is not entitled to
receive a certificate representing such interest except in limited
circumstances set forth in the Pooling and Servicing Agreement,
dated as of June 1, 1993, between People's and the Trustee.
Accordingly, Cede is the holder of record of investor Certificates,
which it holds on behalf of brokers, dealers, banks, and other
direct participants in the DTC system. Such direct participants may
hold Certificates for their own accounts or for the accounts of
their customers. The name and address of Cede is:
Cede & Co.
c/o The Depository Trust Company
Seven Hanover Square
New York, NY 10004
PSFC owns the Exchangeable Transferor Certificate, representing the
undivided interest in the assets of the Trust not represented by
investor Certificates. The address of PSFC is:
PSFC
850 Main Street
Bridgeport, CT 06604
Item 13. Certain Relationships and Related Transactions.
To People's knowledge there have not been, and there are not
currently proposed any transaction or series of transactions
relating to the Trust, to which either the Trust, People's, as
transferor or servicer, PSFC, or the Trustee, on behalf of the
Trust, is a party with any investor Certificateholder who owns of
record or beneficially more than five percent of the Certificates.
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Report on Form 8-K.
(a) Exhibits
99.1 Management Report on the Internal Control Structure Over
Financial Reporting for the Credit Card Division of
People's Bank and Management Report on People's Bank's
Compliance with Article IV, Section 4.2 of the Pooling
and Servicing Agreement.
99.2 Independent Accountants' Report on Management's Report
on the Internal Control Structure Over Financial
Reporting for the Credit Card Division of People's Bank.
99.3 Independent Accountants' Report on Management's Report
on People's Bank's compliance with Article IV, Section
4.2 of the Pooling and Servicing Agreement.
99.4 Aggregate Annual Report for People's Credit Card Master
Trust for the Year Ended December 31, 1996.
99.5 Listing of Monthly Servicer's Certificates
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the City of Bridgeport,
State of Connecticut, on March 20, 1997.
PEOPLE'S BANK
as originator of the Trust (Registrant)
By: /s/ David E.A. Carson
David E.A. Carson
President and Chief Executive Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below on March 20, 1997 by the following persons on
behalf of the registrant and in the capacities indicated.
Signatures Title
/s/ David E.A. Carson President and Chief Executive Officer, Director
David E.A. Carson
/s/ Carlos R. Mello Senior Vice President, Comptroller, and Chief
Carlos R. Mello Accounting Officer
/s/ James P. Biggs Executive Vice President Marketing and Regional
James P. Biggs Banking Division, Director
/s/ George W. Morriss Executive Vice President and Chief Financial
George W. Morriss Officer
/s/ George P. Carter Director
George P. Carter
/s/ Joseph E. Clancy Director
Joseph E. Clancy
/s/ George R. Dunbar Director
George R. Dunbar
/s/ Norwick R.G. Goodspeed Director
Norwick R.G. Goodspeed
Director
Eunice S. Groark
/s/ Samuel W. Hawley Chairman of the Executive Committee, Director
Samuel W. Hawley
/s/ Betty Ruth Hollander Director
Betty Ruth Hollander
/s/ Jean M. LaVecchia Director
Jean M. LaVecchia
Director
Saul Kwartin
/s/ Jack E. McGregor Director
Jack E. McGregor
Director
John F. Merchant
/s/ Wilmot F. Wheeler, Jr. Director
Wilmot F. Wheeler, Jr.
EXHIBIT INDEX
No.
99.1 Management Report on the Internal Control Structure Over Financial
Reporting for the Credit Card Division of People's Bank and
Management Report on People's Bank's Compliance with Article IV,
Section 4.2 of the Pooling and Servicing Agreement.
99.2 Independent Accountants' Report on Management's Report on the
Internal Control Structure Over Financial Reporting for the Credit
Card Division of People's Bank.
99.3 Independent Accountants' Report on Management's Report on People's
Bank's Compliance with Article IV, Section 4.2 of the Pooling and
Servicing Agreement.
99.4 Aggregate Annual Report for People's Credit Card Master Trust for
the Year Ended December 31, 1996.
99.5 Listing of Monthly Servicer's Certificates
People's Credit Card Master Trust
Management Report on the Internal Control Structure Over
Financial Reporting for the Credit Card Division of People's Bank
and Management Report on People's Bank's Compliance with
Article IV, Section 4.2 of the Pooling and Servicing Agreement
Year ended December 31, 1996
Management Report on the Internal Control Structure Over Financial
Reporting for the Credit Card Division of People's Bank
Management of People's Bank ("People's") is responsible for establishing and
maintaining an internal control structure over financial reporting for
credit card services of People's, inclusive of the servicing of People's Bank
Credit Card Master Trust, that is sufficient for the prevention and detection
of errors and irregularities in amounts that would be material to the
consolidated financial statements of People's. The structure contains
monitoring mechanisms, and actions are taken to correct deficiencies
identified.
There are inherent limitations in the effectiveness of any internal control
structure, including the possibility of human error and the circumvention or
overriding of controls. Accordingly, even an effective internal control
structure can provide only reasonable assurance with respect to the preparation
of financial information. Further, because of changes in conditions, the
effectiveness of an internal control structure may vary over time.
Management assessed whether the internal control structure over financial
reporting for People's credit card services as of December 31, 1996 was
sufficient for the prevention and detection of errors and irregularities
in amounts that would be material to the consolidated financial statements
of People's. The assessment was based on criteria for effective internal
control over financial reporting described in Internal Control - Integrated
Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission. Based on this assessment, management believes that, as
of December 31, 1996, the credit card services of People's maintained an
internal control structure over financial reporting that was sufficient for
the prevention and detection of errors and irregularities in an amount that
would be material to the consolidated financial statements of People's.
Management Report on People's Bank Compliance with Article IV,
Section 4.2 of the Pooling and Servicing Agreement
Management of People's Bank ("People's") is responsible for complying with
the provisions of Article IV, Section 4.2 of the Pooling and Servicing
Agreement dated June 1, 1993, including the applicable supplements dated
June 1, 1993, February 1, 1994, October 1, 1994, March 1, 1995 and
July 1, 1996 (collectively the "Agreement"), between Bankers Trust Company,
as trustee, and People's, as servicer, and for establishing and maintaining
an internal control structure over compliance with such provisions.
Management has performed an evaluation of People's compliance with the
provisions of Article IV, Section 4.2 of the Agreement as of December 31, 1996.
Based on this evaluation, management believes that, as of December 31, 1996,
People's was in compliance with the provisions set forth in Article IV,
Section 4.2 of the Agreement.
/s/ David E.A. Carson
David E.A. Carson
President and Chief Executive Officer
/s/ George W. Morriss
George W. Morriss
Executive Vice President and Chief Financial Officer
March 20, 1997
People's Credit Card Master Trust
Independent Accountants' Report on Management's Report on the
Internal Control Structure Over Financial Reporting for the
Credit Card Division of People's Bank
Year ended December 31, 1996
Independent Accountants' Report
People's Bank
850 Main Street
Bridgeport, Connecticut 06604
Bankers Trust Company
Four Albany Street, 10th Floor
New York, New York 10006
Gentlemen:
We have examined the assertion made by the management of People's Bank
("People's") that the credit card division of People's, inclusive of the
servicing of People's Bank Credit Card Master Trust, maintained an internal
control structure over financial reporting as of December 31, 1996 that was
sufficient for the prevention and detection of errors and irregularities in
amounts that would be material to the consolidated financial statements of
People's included in the accompanying management report entitled Management
Report on the Internal Control Structure Over Financial Reporting for the
Credit Card Division of People's Bank.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
obtaining an understanding of the internal control structure over financial
reporting, testing and evaluating the design and operating effectiveness of
the internal control structure, and such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion.
Because of the inherent limitations in any internal control structure, errors
or irregularities may occur and not be detected. Also, projections of any
evaluation of the internal control structure to future periods are subject
to the risk that the internal control structure may become inadequate because
of changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.
In our opinion, management's assertion that the credit card division of
People's maintained an internal control structure over financial reporting as
of December 31, 1996 that was sufficient for the prevention and detection
of errors and irregularities in amounts that would be material to the
consolidated financial statements of People's is fairly stated, in all
material respects, based upon criteria described in Internal Control -
Integrated Framework issued by the Committee of Sponsoring Organizations of
the Treadway Commission.
/s/ KPMG Peat Marwick LLP
March 20, 1997
People's Credit Card Master Trust
Independent Accountants' Report on Management's Report
on People's Bank's Compliance with Article IV,
Section 4.2 of the Pooling and Servicing Agreement
Year ended December 31, 1996
Independent Accountants' Report
People's Bank
850 Main Street
Bridgeport, Connecticut 06604
Bankers Trust Company
Four Albany Street, 10th Floor
New York, New York 10006
Gentlemen:
We have examined the assertion made by the management of People's Bank
("People's") in the accompanying management report entitled Management Report
on People's Bank Compliance with Article IV, Section 4.2 of the Pooling and
Servicing Agreement that, as of December 31, 1996, People's was in compliance
with the provisions set forth in Article IV, Section 4.2 of the Pooling and
Servicing Agreement dated June 1, 1993, including the applicable supplements
dated June 1, 1993, February 1, 1994, October 1, 1994, March 1, 1995 and
July 1, 1996 (collectively, the "Pooling and Servicing Agreement") between
Bankers Trust Company, as trustee, and People's as servicer. Management is
responsible for People's compliance with those requirements. Our
responsibility is to express an opinion on management's assertion about
People's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about People's compliance with the
aforementioned provisions and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide
a legal determination on People's compliance with those provisions.
In our opinion, management's assertion that People's was in compliance with
the aforementioned provisions of Article IV, Section 4.2 of the Pooling and
Servicing Agreement as of December 31, 1996 is fairly stated, in all
material respects.
/s/ KPMG Peat Marwick LLP
March 20, 1997
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
1996 ANNUAL TAX STATEMENT
Total Distributions For The Year Ended 12/31/96: $205,200,000.00
Total Distributions Per $1,000 of Original Investment: $1,026.00
Distributions Allocated To Certificate Principal: $200,000,000.00
Distributions of Principal Per $1,000 of Original Investment: $1,000.00
Distributions Allocated to Certificate Interest: $5,200,000.00
Distributions of Interest Per $1,000 of Original Investment: $26.00
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
1996 ANNUAL TAX STATEMENT
Total Distributions For The Year Ended 12/31/96: $76,441,666.66
Total Distributions Per $1,000 of Original Investment: $382.21
Distributions Allocated To Certificate Principal: $66,666,666.66
Distributions of Principal Per $1,000 of Original Investment: $333.33
Distributions Allocated to Certificate Interest: $9,775,000.00
Distributions of Interest Per $1,000 of Original Investment: $48.88
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
1996 ANNUAL TAX STATEMENT
Total Class A Distributions For The Year Ended 12/31/96: $21,846,447.53
Total Class A Distributions Per $1,000 of Original Investment: $57.49
Total Class B Distributions For The Year Ended 12/31/96: $1,220,785.25
Total Class B Distributions Per $1,000 of Original Investment: $60.04
Class A Distributions Allocated To Certificate Principal: $0.00
Class A Distributions of Principal Per $1,000 of Original Investment: $0.00
Class B Distributions Allocated to Certificate Principal $0.00
Class B Distributions of Principal Per $1,000 of Original Investment: $0.00
Class A Distributions Allocated To Certificate Interest: $21,846,447.53
Class A Distributions of Interest Per $1,000 of Original Investment: $57.49
Class B Distributions Allocated to Certificate Interest $1,200,785.25
Class B Distributions of Interest Per $1,000 of Original Investment: $60.04
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
1996 ANNUAL TAX STATEMENT
Total Class A Distributions For The Year Ended 12/31/96: $22,040,141.96
Total Class A Distributions Per $1,000 of Original Investment: $58.00
Total Class B Distributions For The Year Ended 12/31/96: $1,190,590.80
Total Class B Distributions Per $1,000 of Original Investment: $59.53
Class A Distributions Allocated To Certificate Principal: $0.00
Class A Distributions of Principal Per $1,000 of Original Investment: $0.00
Class B Distributions Allocated to Certificate Principal $0.00
Class B Distributions of Principal Per $1,000 of Original Investment: $0.00
Class A Distributions Allocated To Certificate Interest: $22,040,141.96
Class A Distributions of Interest Per $1,000 of Original Investment: $58.00
Class B Distributions Allocated to Certificate Interest $1,190,590.80
Class B Distributions of Interest Per $1,000 of Original Investment: $59.53
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
1996 ANNUAL TAX STATEMENT
Total Class A Distributions For The Year Ended 12/31/96: $9,826,646.41
Total Class A Distributions Per $1,000 of Original Investment: $25.93
Total Class B Distributions For The Year Ended 12/31/96: $559,096.87
Total Class B Distributions Per $1,000 of Original Investment: $26.62
Class A Distributions Allocated To Certificate Principal: $0.00
Class A Distributions of Principal Per $1,000 of Original Investment: $0.00
Class B Distributions Allocated to Certificate Principal $0.00
Class B Distributions of Principal Per $1,000 of Original Investment: $0.00
Class A Distributions Allocated To Certificate Interest: $9,826.646.41
Class A Distributions of Interest Per $1,000 of Original Investment: $25.93
Class B Distributions Allocated to Certificate Interest $559,096.87
Class B Distributions of Interest Per $1,000 of Original Investment: $26.62
People's Bank Credit Card Master Trust
Index to Monthly Servicer's Certificates
Schedule No. Due Period Ended Distribution Date
20.1 January 31, 1996 February 10, 1996
20.2 February 28, 1996 March 10, 1996
20.3 March 31, 1996 April 10, 1996
20.4 April 30, 1996 May 18, 1996
20.5 May 31, 1996 June 9, 1996
20.6 June 30, 1996 July 10, 1996
20.7 July 31, 1996 August 10, 1996
20.8 August 31, 1996 September 8, 1996
20.9 September 30, 1996 October 10, 1996
20.10 October 31, 1996 November 9, 1996
20.11 November 30, 1996 December 8, 1996
20.12 December 31, 1996 January 10, 1997
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 32
Monthly Period Ended January 31, 1996
Distribution Date February 15, 1996
Determination Date February 9, 1996
1.Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,561,288,349.20
Principal Collections on the Receivables 140,579,372.34
Finance Charge Receivables 21,401,107.05
Receivables in Defaulted Accounts 6,224,533.62
End of Month - Aggregate Principal Receivables 1,529,698,160.68
Investor Interest Series 1993-1 166,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 363,031,494.01
Investor Percentage with respect to...
Finance Charges 10.8953956%
Charged-Off Accounts 10.8953956%
Principal Receivables 13.0744748%
Seller Percentage with respect to ...
Finance Charges 23.7322305%
Charged-Off Accounts 23.7322305%
Principal Receivables 21.5531514%
2.Allocation of Funds in Collection Account
Available Finance Charge Collections 2,513,011.96
Available Principal Collections 18,008,124.18
Investor Default Amount 730,912.07
Aggregate Collections Allocated to Certificateholders 20,521,136.14
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 733,333.33
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 2,072,369.58
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 728,888.08
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 305,555.56
Monthly Certificate Insurer Fee 14,322.92
Excess Servicing (Shortfall) (dollars) 728,888.08
Excess Servicing (Shortfall) (percentage of Investor Interest) 4.77%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,400,000.00
Total Distribution to Investors per $1,000 Invested 87.00
3.Calculation of Certificate Interest
Certificate Rate 4.80%
This Month Certificate Interest 733,333.33
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 733,333.33
Total Certificate Interest Distributable per $1,000 of
Original Investment 3.67
4.Calculation of Monthly Principal
Beginning Investor Interest 183,333,333.33
Available Principal Collections 18,008,124.18
Investor Default Amount 730,912.07
Total Investor Monthly Principal 18,739,036.25
Investor Monthly Principal Reinvested in Receivables 2,072,369.58
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Serie 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 166,666,666.67
5.Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.8333333
6.Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 183,333,333.33
Monthly Servicing Fee 305,555.56
7.Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 16,500,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 16,500,000.00
Available Surety Bond Amount (Percentage) 9.00%
8.Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 6,416,666.67
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 34,970.83
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 6,416,666.67
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9.Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 89,555,438.59
Percent Dollars 5.85%
Number of Accts 33,998
Percent Number of Accts 3.23%
31-60 days past due Dollars 22,094,206.90
Percent Dollars 1.44%
Number of Accts 8,379
Percent Number of Accts 0.80%
61-90 days past due Dollars 13,165,708.53
Percent Dollars 0.86%
Number of Accts 4,698
Percent Number of Accts 0.45%
91-120 days past due Dollars 9,772,168.14
Percent Dollars 0.64%
Number of Accts 3,235
Percent Number of Accts 0.31%
121-150 days past due Dollars 8,580,688.46
Percent Dollars 0.56%
Number of Accts 2,717
Percent Number of Accts 0.26%
151-180 days past due Dollars 7,047,804.78
Percent Dollars 0.46%
Number of Accts 2,124
Percent Number of Accts 0.20%
181 + days past due Dollars 11,325,258.44
Percent Dollars 0.74%
Number of Accts 3,455
Percent Number of Accts 0.33%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 11.66%
Excess of Portfolio Yield over Base Rate 4.76%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 2,706
Ending Number of Accounts 1,052,581
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 24
Monthly Period Ended January 31, 1996
Distribution Date February 15, 1996
Determination Date February 9, 1996
1.Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,561,288,349.20
Principal Collections on the Receivables 140,579,372.34
Finance Charge Receivables 21,401,107.05
Receivables in Defaulted Accounts 6,224,533.62
End of Month - Aggregate Principal Receivables 1,529,698,160.68
Investor Interest Series 1993-1 166,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 363,031,494.01
Investor Percentage with respect to...
Finance Charges 13.0744748%
Charged-Off Accounts 13.0744748%
Principal Receivables 13.0744748%
Seller Percentage with respect to ...
Finance Charges 23.7322305%
Charged-Off Accounts 23.7322305%
Principal Receivables 21.5531514%
2.Allocation of Funds in Collection Account
Available Finance Charge Collections 2,741,467.59
Available Principal Collections 18,008,124.18
Investor Default Amount 797,358.62
Aggregate Collections Allocated to Certificateholders 20,749,591.77
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See"Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 18,805,482.80
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 745,150.64
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 745,150.64
Excess Servicing (Shortfall) (percentage of Investor Interest) 4.47%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3.Calculation of Certificate Interest
Certificate Rate 5.10%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Interest at the Investor Certificate Rate on Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4.Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 18,008,124.18
Investor Default Amount 797,358.62
Total Investor Monthly Principal 18,805,482.80
Investor Monthly Principal Reinvested in Receivables 18,805,482.80
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5.Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6.Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7.Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8.Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 34,970.83
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9.Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 89,555,438.59
Percent Dollars 5.85%
Number of Accts 33,998
Percent Number of Accts 3.23%
31-60 days past due Dollars 22,094,206.90
Percent Dollars 1.44%
Number of Accts 8,379
Percent Number of Accts 0.80%
61-90 days past due Dollars 13,165,708.53
Percent Dollars 0.86%
Number of Accts 4,698
Percent Number of Accts 0.45%
91-120 days past due Dollars 9,772,168.14
Percent Dollars 0.64%
Number of Accts 3,235
Percent Number of Accts 0.31%
121-150 days past due Dollars 8,580,688.46
Percent Dollars 0.56%
Number of Accts 2,717
Percent Number of Accts 0.26%
151-180 days past due Dollars 7,047,804.78
Percent Dollars 0.46%
Number of Accts 2,124
Percent Number of Accts 0.20%
181 + days past due Dollars 11,325,258.44
Percent Dollars 0.74%
Number of Accts 3,455
Percent Number of Accts 0.33%
10.Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.66%
Excess of Portfolio Yield over Base Rate 4.46%
11.Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 2,706
Ending Number of Accounts 1,052,581
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 16
Monthly Period Ended January 31, 1996
Distribution Date February 15, 1996
Determination Date February 9, 1996
Number of Days in Period 30
1.Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,561,288,349.20
Principal Collections on the Receivables 140,579,372.34
Finance Charge Receivables 21,401,107.05
Receivables in Defaulted Accounts 6,224,533.62
End of Month - Aggregate Principal Receivables 1,529,698,160.68
Investor Interest Series 1993-1 166,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 363,031,494.01
Total Investor Percentage with respect to...
Finance Charges 26.1489495%
Charged-Off Accounts 26.1489495%
Principal Receivables 26.1489495%
Class A Percentage with respect to...
Finance Charges 24.8415021%
Charged-Off Accounts 24.8415021%
Principal Receivables 24.8415021%
Class B Percentage with respect to...
Finance Charges 1.3074475%
Charged-Off Accounts 1.3074475%
Principal Receivables 1.3074475%
Seller Percentage with respect to ...
Finance Charges 23.7322305%
Charged-Off Accounts 23.7322305%
Principal Receivables 21.5531514%
2.Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,208,788.42
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,828,750.00
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,514,981.38
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,231,723.71
Class A Required Amount 0.00
Class B Available Finance Charge Collections 274,146.76
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 100,416.67
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 79,735.86
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 60,660.90
Class B Required Amount 0.00
Total Excess Spread 1,292,384.61
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan
Agreement 1,292,384.61
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,274,784.61
Remaining Excess Servicing (percentage of Investor Interest) 3.82%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 36,016,248.35
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 37,610,965.59
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,828,750.00
Total Distribution to Class A Investors per $1,000 Invested 4.81
Total Distribution to Class B Investors 100,416.67
Total Distribution to Class B Investors per $1,000 Invested 5.02
3.Calculation of Certificate Interest
Class A Certificate Rate 5.7750%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,828,750.00
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,828,750.00
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.81
Class B Certificate Rate 6.0250%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 100,416.67
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 100,416.67
Total Class B Interest Distributable per $1,000 of
Class B Original Investment 5.02
Total Certificate Interest Distributable to
Certificateholders 1,929,166.67
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.82
4.Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 34,215,435.94
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 35,730,417.31
Class A Monthly Principal Reinvested in Receivables 35,730,417.31
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,800,812.42
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,880,548.28
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,880,548.28
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5.Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6.Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7.Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisy payments per Loan Agreement 1,292,384.61
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 59,950.00
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8.Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 89,555,438.59
Percent Dollars 5.85%
Number of Accts 33,998
Percent Number of Accts 3.23%
31-60 days past due Dollars 22,094,206.90
Percent Dollars 1.44%
Number of Accts 8,379
Percent Number of Accts 0.80%
61-90 days past due Dollars 13,165,708.53
Percent Dollars 0.86%
Number of Accts 4,698
Percent Number of Accts 0.45%
91-120 days past due Dollars 9,772,168.14
Percent Dollars 0.64%
Number of Accts 3,235
Percent Number of Accts 0.31%
121-150 days past due Dollars 8,580,688.46
Percent Dollars 0.56%
Number of Accts 2,717
Percent Number of Accts 0.26%
151-180 days past due Dollars 7,047,804.78
Percent Dollars 0.46%
Number of Accts 2,124
Percent Number of Accts 0.20%
181 + days past due Dollars 11,325,258.44
Percent Dollars 0.74%
Number of Accts 3,455
Percent Number of Accts 0.33%
9. Base Rate Calculation
Base Rate 7.79%
Portfolio Yield (net of losses) 11.66%
Excess of Portfolio Yield over Base Rate 3.88%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 2,706
Ending Number of Accounts 1,052,581
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 11
Monthly Period Ended January 31, 1996
Distribution Date February 15, 1996
Determination Date February 9, 1996
Number of Days in Period 30
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,561,288,349.20
Principal Collections on the Receivables 140,579,372.34
Finance Charge Receivables 21,401,107.05
Receivables in Defaulted Accounts 6,224,533.62
End of Month - Aggregate Principal Receivables 1,529,698,160.68
Investor Interest Series 1993-1 166,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 363,031,494.01
Total Investor Percentage with respect to...
Finance Charges 26.1489495%
Charged-Off Accounts 26.1489495%
Principal Receivables 26.1489495%
Class A Percentage with respect to...
Finance Charges 24.8415021%
Charged-Off Accounts 24.8415021%
Principal Receivables 24.8415021%
Class B Percentage with respect to...
Finance Charges 1.3074475%
Charged-Off Accounts 1.3074475%
Principal Receivables 1.3074475%
Seller Percentage with respect to ...
Finance Charges 23.7322305%
Charged-Off Accounts 23.7322305%
Principal Receivables 21.5531514%
Class A Available Finance Charge Collections 5,208,788.42
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,844,583.33
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,514,981.38
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,215,890.38
Class A Required Amount 0.00
Class B Available Finance Charge Collections 274,146.76
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 99,583.33
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 79,735.86
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 61,494.23
Class B Required Amount 0.00
Total Excess Spread 1,277,384.61
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B
Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,277,384.61
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,262,217.94
Remaining Excess Servicing (percentage of Investor
Interest) 3.79%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 36,016,248.35
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 37,610,965.59
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other
Series 0.00
Draw on Shared Finance Charge Collections from other
Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall 0.00
Required Shared Finance Charge Collections for other
Series 0.00
Deposit of Shared Finance Charge Collections for other
Series 0.00
Total Distribution to Class A Investors 1,844,583.33
Total Distribution to Class A Investors per $1,000
Invested 4.85
Total Distribution to Class B Investors 99,583.33
Total Distribution to Class B Investors per $1,000
Invested 4.98
3. Calculation of Certificate Interest
Class A Certificate Rate 5.8250%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,844,583.33
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,844,583.33
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.85
Class B Certificate Rate 5.9750%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 99,583.33
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 99,583.33
Total Class B Interest Distributable per $1,000 of
Class B Original Investment 4.98
Total Certificate Interest Distributable to
Certificateholders 1,944,166.67
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.86
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 34,215,435.94
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 35,730,417.31
Class A Monthly Principal Reinvested in Receivables 35,730,417.31
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,800,812.42
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,880,548.28
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,880,548.28
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6.Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,277,384.61
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 39,966.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 89,555,438.59
Percent Dollars 5.85%
Number of Accts 33,998
Percent Number of Accts 3.23%
31-60 days past due Dollars 22,094,206.90
Percent Dollars 1.44%
Number of Accts 8,379
Percent Number of Accts 0.80%
61-90 days past due Dollars 13,165,708.53
Percent Dollars 0.86%
Number of Accts 4,698
Percent Number of Accts 0.45%
91-120 days past due Dollars 9,772,168.14
Percent Dollars 0.64%
Number of Accts 3,235
Percent Number of Accts 0.31%
121-150 days past due Dollars 8,580,688.46
Percent Dollars 0.56%
Number of Accts 2,717
Percent Number of Accts 0.26%
151-180 days past due Dollars 7,047,804.78
Percent Dollars 0.46%
Number of Accts 2,124
Percent Number of Accts 0.20%
181 + days past due Dollars 11,325,258.44
Percent Dollars 0.74%
Number of Accts 3,455
Percent Number of Accts 0.33%
9. Base Rate Calculation
Base Rate 7.83%
Portfolio Yield (net of losses) 11.66%
Excess of Portfolio Yield over Base Rate 3.83%
10.Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 2,706
Ending Number of Accounts 1,052,581
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 33
Monthly Period Ended February 29, 1996
Distribution Date March 15, 1996
Determination Date March 8, 1996
1.Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,529,698,160.68
Principal Collections on the Receivables 128,346,876.60
Finance Charge Receivables 21,808,298.50
Receivables in Defaulted Accounts 6,995,601.87
End of Month - Aggregate Principal Receivables 1,497,859,278.93
Investor Interest Series 1993-1 150,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 347,859,278.93
Investor Percentage with respect to...
Finance Charges 10.0142919%
Charged-Off Accounts 10.0142919%
Principal Receivables 13.3523892%
Seller Percentage with respect to ...
Finance Charges 23.2237623%
Charged-Off Accounts 23.2237623%
Principal Receivables 19.8856650%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,376,100.40
Available Principal Collections 16,780,679.99
Investor Default Amount 762,198.50
Aggregate Collections Allocated to Certificateholders 19,156,780.40
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 666,666.67
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 876,211.83
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 656,436.62
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 277,777.78
Monthly Certificate Insurer Fee 13,020.83
Excess Servicing (Shortfall) (dollars) 656,436.62
Excess Servicing (Shortfall) (percentage of Investor
Interest) 4.73%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,333,333.34
Total Distribution to Investors per $1,000 Invested 86.67
3. Calculation of Certificate Interest
Certificate Rate 4.80%
This Month Certificate Interest 666,666.67
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 666,666.67
Total Certificate Interest Distributable per $1,000 of
Original Investment 3.33
4. Calculation of Monthly Principal
Beginning Investor Interest 166,666,666.67
Available Principal Collections 16,780,679.99
Investor Default Amount 762,198.50
Total Investor Monthly Principal 17,542,878.49
Investor Monthly Principal Reinvested in Receivables 876,211.83
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Serie 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 150,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.7500000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 166,666,666.67
Monthly Servicing Fee 277,777.78
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 16,500,000.00
Stated Surety Bond Amount 15,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 15,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 6,416,666.67
Required Cash Collateral Account Amount 5,833,333.33
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 26,491.03
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 5,833,333.33
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 91,831,494.93
Percent Dollars 6.13%
Number of Accts 32,991
Percent Number of Accts 3.13%
31-60 days past due Dollars 22,358,774.81
Percent Dollars 1.49%
Number of Accts 8,271
Percent Number of Accts 0.78%
61-90 days past due Dollars 14,034,643.63
Percent Dollars 0.94%
Number of Accts 4,905
Percent Number of Accts 0.47%
91-120 days past due Dollars 10,543,705.15
Percent Dollars 0.70%
Number of Accts 3,528
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,200,578.32
Percent Dollars 0.55%
Number of Accts 2,580
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,278,019.05
Percent Dollars 0.49%
Number of Accts 2,205
Percent Number of Accts 0.21%
181 + days past due Dollars 11,537,281.15
Percent Dollars 0.77%
Number of Accts 3,441
Percent Number of Accts 0.33%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 11.62%
Excess of Portfolio Yield over Base Rate 4.72%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,793
Ending Number of Accounts 1,054,515
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 25
Monthly Period Ended February 29, 1996
Distribution Date March 15, 1996
Determination Date March 8, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,529,698,160.68
Principal Collections on the Receivables 128,346,876.60
Finance Charge Receivables 21,808,298.50
Receivables in Defaulted Accounts 6,995,601.87
End of Month - Aggregate Principal Receivables 1,497,859,278.93
Investor Interest Series 1993-1 150,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 347,859,278.93
Investor Percentage with respect to...
Finance Charges 13.3523892%
Charged-Off Accounts 13.3523892%
Principal Receivables 13.3523892%
Seller Percentage with respect to ...
Finance Charges 23.2237623%
Charged-Off Accounts 23.2237623%
Principal Receivables 19.8856650%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,851,320.48
Available Principal Collections 16,780,679.99
Investor Default Amount 914,638.20
Aggregate Collections Allocated to Certificateholders 19,632,000.48
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See"Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 17,695,318.19
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 737,723.95
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 737,723.95
Excess Servicing (Shortfall) (percentage of Investor Interest 4.43%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3. Calculation of Certificate Interest
Certificate Rate 5.10%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 16,780,679.99
Investor Default Amount 914,638.20
Total Investor Monthly Principal 17,695,318.19
Investor Monthly Principal Reinvested in Receivables 17,695,318.19
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 28,899.31
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 91,831,494.93
Percent Dollars 6.13%
Number of Accts 32,991
Percent Number of Accts 3.13%
31-60 days past due Dollars 22,358,774.81
Percent Dollars 1.49%
Number of Accts 8,271
Percent Number of Accts 0.78%
61-90 days past due Dollars 14,034,643.63
Percent Dollars 0.94%
Number of Accts 4,905
Percent Number of Accts 0.47%
91-120 days past due Dollars 10,543,705.15
Percent Dollars 0.70%
Number of Accts 3,528
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,200,578.32
Percent Dollars 0.55%
Number of Accts 2,580
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,278,019.05
Percent Dollars 0.49%
Number of Accts 2,205
Percent Number of Accts 0.21%
181 + days past due Dollars 11,537,281.15
Percent Dollars 0.77%
Number of Accts 3,441
Percent Number of Accts 0.33%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.62%
Excess of Portfolio Yield over Base Rate 4.42%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,793
Ending Number of Accounts 1,054,515
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 17
Monthly Period Ended February 29, 1996
Distribution Date March 15, 1996
Determination Date March 8, 1996
Number of Days in Period 29
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,529,698,160.68
Principal Collections on the Receivables 128,346,876.60
Finance Charge Receivables 21,808,298.50
Receivables in Defaulted Accounts 6,995,601.87
End of Month - Aggregate Principal Receivables 1,497,859,278.93
Investor Interest Series 1993-1 150,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 347,859,278.93
Total Investor Percentage with respect to...
Finance Charges 26.7047783%
Charged-Off Accounts 26.7047783%
Principal Receivables 26.7047783%
Class A Percentage with respect to...
Finance Charges 25.3695394%
Charged-Off Accounts 25.3695394%
Principal Receivables 25.3695394%
Class B Percentage with respect to...
Finance Charges 1.3352389%
Charged-Off Accounts 1.3352389%
Principal Receivables 1.3352389%
Seller Percentage with respect to ...
Finance Charges 23.2237623%
Charged-Off Accounts 23.2237623%
Principal Receivables 19.8856650%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,417,508.92
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,672,131.94
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,737,812.58
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,374,231.06
Class A Required Amount 0.00
Class B Available Finance Charge Collections 285,132.05
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 92,034.72
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 91,463.82
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 68,300.17
Class B Required Amount 0.00
Total Excess Spread 1,442,531.23
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investment Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,442,531.23
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,427,064.57
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 4.28%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 33,561,359.98
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 35,390,636.39
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,672,131.94
Total Distribution to Class A Investors per $1,000 Invested 4.40
Total Distribution to Class B Investors 92,034.72
Total Distribution to Class B Investors per $1,000 Invested 4.60
3. Calculation of Certificate Interest
Class A Certificate Rate 5.4625%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,672,131.94
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,672,131.94
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.40
Class B Certificate Rate 5.7125%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 92,034.72
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 92,034.72
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.60
Total Certificate Interest Distributable to
Certificateholders 1,764,166.66
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.41
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 31,883,291.99
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 33,621,104.57
Class A Monthly Principal Reinvested in Receivables 33,621,104.57
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,678,068.00
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,769,531.82
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,769,531.82
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principa 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisy payments per loan agreement 1,442,531.23
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 49,662.50
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 91,831,494.93
Percent Dollars 6.13%
Number of Accts 32,991
Percent Number of Acct 3.13%
31-60 days past due Dollars 22,358,774.81
Percent Dollars 1.49%
Number of Accts 8,271
Percent Number of Accts 0.78%
61-90 days past due Dollars 14,034,643.63
Percent Dollars 0.94%
Number of Accts 4,905
Percent Number of Accts 0.47%
91-120 days past due Dollars 10,543,705.15
Percent Dollars 0.70%
Number of Accts 3,528
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,200,578.32
Percent Dollars 0.55%
Number of Accts 2,580
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,278,019.05
Percent Dollars 0.49%
Number of Accts 2,205
Percent Number of Accts 0.21%
181 + days past due Dollars 11,537,281.15
Percent Dollars 0.77%
Number of Accts 3,441
Percent Number of Accts 0.33%
9. Base Rate Calculation
Base Rate 7.48%
Portfolio Yield (net of losses) 11.62%
Excess of Portfolio Yield over Base Rate 4.15%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,793
Ending Number of Accounts 1,054,515
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 12
Monthly Period Ended February 29, 1996
Distribution Date March 15, 1996
Determination Date March 8, 1996
Number of Days in Period 29
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,529,698,160.68
Principal Collections on the Receivables 128,346,876.60
Finance Charge Receivables 21,808,298.50
Receivables in Defaulted Accounts 6,995,601.87
End of Month - Aggregate Principal Receivables 1,497,859,278.93
Investor Interest Series 1993-1 150,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 347,859,278.93
Total Investor Percentage with respect to...
Finance Charges 26.7047783%
Charged-Off Accounts 26.7047783%
Principal Receivables 26.7047783%
Class A Percentage with respect to...
Finance Charges 25.3695394%
Charged-Off Accounts 25.3695394%
Principal Receivables 25.3695394%
Class B Percentage with respect to...
Finance Charges 1.3352389%
Charged-Off Accounts 1.3352389%
Principal Receivables 1.3352389%
Seller Percentage with respect to ...
Finance Charges 23.2237623%
Charged-Off Accounts 23.2237623%
Principal Receivables 19.8856650%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,417,508.92
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,687,437.50
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,737,812.58
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,358,925.50
Class A Required Amount 0.00
Class B Available Finance Charge Collections 285,132.05
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 91,229.17
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 91,463.82
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 69,105.73
Class B Required Amount 0.00
Total Excess Spread 1,428,031.23
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,428,031.23
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,413,370.12
Remaining Excess Servicing (percentage of Investor Interest) 4.24%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 33,561,359.98
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 35,390,636.39
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,687,437.50
Total Distribution to Class A Investors per $1,000 Invested 4.44
Total Distribution to Class B Investors 91,229.17
Total Distribution to Class B Investors per $1,000 Invested 4.56
3. Calculation of Certificate Interest
Class A Certificate Rate 5.5125%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,687,437.50
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,687,437.50
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.44
Class B Certificate Rate 5.6625%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 91,229.17
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 91,229.17
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.56
Total Certificate Interest Distributable to
Certificateholders 1,778,666.67
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.45
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 31,883,291.99
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 33,621,104.57
Class A Monthly Principal Reinvested in Receivables 33,621,104.57
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,678,068.00
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,769,531.82
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,769,531.82
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6.Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,428,031.23
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 33,027.78
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 91,831,494.93
Percent Dollars 6.13%
Number of Accts 32,991
Percent Number of Accts 3.13%
31-60 days past due Dollars 22,358,774.81
Percent Dollars 1.49%
Number of Accts 8,271
Percent Number of Accts 0.78%
61-90 days past due Dollars 14,034,643.63
Percent Dollars 0.94%
Number of Accts 4,905
Percent Number of Accts 0.47%
91-120 days past due Dollars 10,543,705.15
Percent Dollars 0.70%
Number of Accts 3,528
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,200,578.32
Percent Dollars 0.55%
Number of Accts 2,580
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,278,019.05
Percent Dollars 0.49%
Number of Accts 2,205
Percent Number of Accts 0.21%
181 + days past due Dollars 11,537,281.15
Percent Dollars 0.77%
Number of Accts 3,441
Percent Number of Accts 0.33%
9. Base Rate Calculation
Base Rate 7.52%
Portfolio Yield (net of losses) 11.62%
Excess of Portfolio Yield over Base Rate 4.10%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,793
Ending Number of Accounts 1,054,515
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 34
Monthly Period Ended March 31, 1996
Distribution Date April 15, 1996
Determination Date April 10, 1996
1.Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,497,859,278.93
Principal Collections on the Receivables 138,112,668.16
Finance Charge Receivables 21,272,323.14
Receivables in Defaulted Accounts 7,152,947.90
End of Month - Aggregate Principal Receivables 1,450,383,421.33
Investor Interest Series 1993-1 133,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 317,050,088.00
Investor Percentage with respect to...
Finance Charges 9.1929714%
Charged-Off Accounts 9.1929714%
Principal Receivables 13.7894571%
Seller Percentage with respect to ...
Finance Charges 21.8597430%
Charged-Off Accounts 21.8597430%
Principal Receivables 17.2632573%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,130,272.53
Available Principal Collections 18,441,340.93
Investor Default Amount 716,317.08
Aggregate Collections Allocated to Certificateholders 20,571,613.46
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 600,000.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 2,490,991.35
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 552,236.70
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original
Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 250,000.00
Monthly Certificate Insurer Fee 11,718.75
Excess Servicing (Shortfall) (dollars) 552,236.70
Excess Servicing (Shortfall) (percentage of Investor
Interest) 4.42%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,266,666.67
Total Distribution to Investors per $1,000 Invested 86.33
3. Calculation of Certificate Interest
Certificate Rate 4.80%
This Month Certificate Interest 600,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 600,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 3.00
4. Calculation of Monthly Principal
Beginning Investor Interest 150,000,000.00
Available Principal Collections 18,441,340.93
Investor Default Amount 716,317.08
Total Investor Monthly Principal 19,157,658.01
Investor Monthly Principal Reinvested in Receivables 2,490,991.35
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original
Investment 83.33
Ending Investor Interest 133,333,333.33
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.6666667
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 150,000,000.00
Monthly Servicing Fee 250,000.00
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 15,000,000.00
Stated Surety Bond Amount 13,500,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 13,500,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 5,833,333.33
Required Cash Collateral Account Amount 5,250,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 24,582.03
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 5,250,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 87,475,698.38
Percent Dollars 6.03%
Number of Accts 32,483
Percent Number of Accts 3.08%
31-60 days past due Dollars 21,137,425.48
Percent Dollars 1.46%
Number of Accts 7,386
Percent Number of Accts 0.70%
61-90 days past due Dollars 14,256,919.88
Percent Dollars 0.98%
Number of Accts 4,844
Percent Number of Accts 0.46%
91-120 days past due Dollars 10,798,723.03
Percent Dollars 0.74%
Number of Accts 3,535
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,461,733.47
Percent Dollars 0.58%
Number of Accts 2,678
Percent Number of Accts 0.25%
151-180 days past due Dollars 6,831,255.01
Percent Dollars 0.47%
Number of Accts 2,057
Percent Number of Accts 0.19%
181 + days past due Dollars 11,479,559.10
Percent Dollars 0.79%
Number of Accts 3,360
Percent Number of Accts 0.32%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 11.31%
Excess of Portfolio Yield over Base Rate 4.41%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 997
Ending Number of Accounts 1,055,728
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 26
Monthly Period Ended March 31, 1996
Distribution Date April 15, 1996
Determination Date April 10, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,497,859,278.93
Principal Collections on the Receivables 138,112,668.16
Finance Charge Receivables 21,272,323.14
Receivables in Defaulted Accounts 7,152,947.90
End of Month - Aggregate Principal Receivables 1,450,383,421.33
Investor Interest Series 1993-1 133,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 317,050,088.00
Investor Percentage with respect to...
Finance Charges 13.7894571%
Charged-Off Accounts 13.7894571%
Principal Receivables 13.7894571%
Seller Percentage with respect to ...
Finance Charges 21.8597430%
Charged-Off Accounts 21.8597430%
Principal Receivables 17.2632573%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,840,363.37
Available Principal Collections 18,441,340.93
Investor Default Amount 955,089.44
Aggregate Collections Allocated to Certificateholders 21,281,704.30
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See"Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 19,396,430.37
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 686,315.60
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 686,315.60
Excess Servicing (Shortfall) (percentage of
Investor Interest) 4.12%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3. Calculation of Certificate Interest
Certificate Rate 5.10%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 18,441,340.93
Investor Default Amount 955,089.44
Total Investor Monthly Principal 19,396,430.37
Investor Monthly Principal Reinvested in Receivables 19,396,430.37
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 29,498.44
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 87,475,698.38
Percent Dollars 6.03%
Number of Accts 32,483
Percent Number of Accts 3.08%
31-60 days past due Dollars 21,137,425.48
Percent Dollars 1.46%
Number of Accts 7,386
Percent Number of Accts 0.70%
61-90 days past due Dollars 14,256,919.88
Percent Dollars 0.98%
Number of Accts 4,844
Percent Number of Accts 0.46%
91-120 days past due Dollars 10,798,723.03
Percent Dollars 0.74%
Number of Accts 3,535
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,461,733.47
Percent Dollars 0.58%
Number of Accts 2,678
Percent Number of Accts 0.25%
151-180 days past due Dollars 6,831,255.01
Percent Dollars 0.47%
Number of Accts 2,057
Percent Number of Accts 0.19%
181 + days past due Dollars 11,479,559.10
Percent Dollars 0.79%
Number of Accts 3,360
Percent Number of Accts 0.32%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.31%
Excess of Portfolio Yield over Base Rate 4.11%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 997
Ending Number of Accounts 1,055,728
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 18
Monthly Period Ended March 31, 1996
Distribution Date April 15, 1996
Determination Date April 10, 1996
Number of Days in Period 31
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,497,859,278.93
Principal Collections on the Receivables 138,112,668.16
Finance Charge Receivables 21,272,323.14
Receivables in Defaulted Accounts 7,152,947.90
End of Month - Aggregate Principal Receivables 1,450,383,421.33
Investor Interest Series 1993-1 133,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 317,050,088.00
Total Investor Percentage with respect to...
Finance Charges 27.5789142%
Charged-Off Accounts 27.5789142%
Principal Receivables 27.5789142%
Class A Percentage with respect to...
Finance Charges 26.1999685%
Charged-Off Accounts 26.1999685%
Principal Receivables 26.1999685%
Class B Percentage with respect to...
Finance Charges 1.3789457%
Charged-Off Accounts 1.3789457%
Principal Receivables 1.3789457%
Seller Percentage with respect to ...
Finance Charges 21.8597430%
Charged-Off Accounts 21.8597430%
Principal Receivables 17.2632573%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,396,690.40
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,807,902.78
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,814,669.94
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,140,784.36
Class A Required Amount 0.00
Class B Available Finance Charge Collections 284,036.34
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 99,458.33
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 95,508.94
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 55,735.73
Class B Required Amount 0.00
Total Excess Spread 1,196,520.08
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B
Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,196,520.08
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,181,053.41
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 3.54%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 36,882,681.87
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 38,792,860.74
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,807,902.78
Total Distribution to Class A Investors per $1,000 Invested 4.76
Total Distribution to Class B Investors 99,458.33
Total Distribution to Class B Investors per $1,000 Invested 4.97
3. Calculation of Certificate Interest
Class A Certificate Rate 5.5250%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,807,902.78
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,807,902.78
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.76
Class B Certificate Rate 5.7750%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 99,458.33
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 99,458.33
Total Class B Interest Distributable per $1,000 of
Class B Original Investment 4.97
Total Certificate Interest Distributable to
Certificateholders 1,907,361.11
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.77
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 35,038,547.77
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 36,853,217.71
Class A Monthly Principal Reinvested in Receivables 36,853,217.71
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,844,134.09
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,939,643.03
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,939,643.03
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per loan
agreement 1,196,520.08
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 50,266.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 87,475,698.38
Percent Dollars 6.03%
Number of Accts 32,483
Percent Number of Accts 3.08%
31-60 days past due Dollars 21,137,425.48
Percent Dollars 1.46%
Number of Accts 7,386
Percent Number of Accts 0.70%
61-90 days past due Dollars 14,256,919.88
Percent Dollars 0.98%
Number of Accts 4,844
Percent Number of Accts 0.46%
91-120 days past due Dollars 10,798,723.03
Percent Dollars 0.74%
Number of Accts 3,535
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,461,733.47
Percent Dollars 0.58%
Number of Accts 2,678
Percent Number of Accts 0.25%
151-180 days past due Dollars 6,831,255.01
Percent Dollars 0.47%
Number of Accts 2,057
Percent Number of Accts 0.19%
181 + days past due Dollars 11,479,559.10
Percent Dollars 0.79%
Number of Accts 3,360
Percent Number of Accts 0.32%
9. Base Rate Calculation
Base Rate 7.54%
Portfolio Yield (net of losses) 11.31%
Excess of Portfolio Yield over Base Rate 3.77%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 997
Ending Number of Accounts 1,055,728
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
End of Month
# of Months Series in Existence: 13
Monthly Period Ended March 31, 1996
Distribution Date April 15, 1996
Determination Date April 10, 1996
Number of Days in Period 31
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,497,859,278.93
Principal Collections on the Receivables 138,112,668.16
Finance Charge Receivables 21,272,323.14
Receivables in Defaulted Accounts 7,152,947.90
End of Month - Aggregate Principal Receivables 1,450,383,421.33
Investor Interest Series 1993-1 133,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 317,050,088.00
Total Investor Percentage with respect to...
Finance Charges 27.5789142%
Charged-Off Accounts 27.5789142%
Principal Receivables 27.5789142%
Class A Percentage with respect to...
Finance Charges 26.1999685%
Charged-Off Accounts 26.1999685%
Principal Receivables 26.1999685%
Class B Percentage with respect to...
Finance Charges 1.3789457%
Charged-Off Accounts 1.3789457%
Principal Receivables 1.3789457%
Seller Percentage with respect to ...
Finance Charges 21.8597430%
Charged-Off Accounts 21.8597430%
Principal Receivables 17.2632573%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,396,690.40
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,824,263.89
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,814,669.94
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,124,423.24
Class A Required Amount 0.00
Class B Available Finance Charge Collections 284,036.34
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 98,597.22
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 95,508.94
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 56,596.84
Class B Required Amount 0.00
Total Excess Spread 1,181,020.08
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class
B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B
Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,181,020.08
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,166,358.97
Remaining Excess Servicing (percentage of Investor
Interest) 3.50%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 36,882,681.87
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 38,792,860.74
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,824,263.89
Total Distribution to Class A Investors per $1,000
Invested 4.80
Total Distribution to Class B Investors 98,597.22
Total Distribution to Class B Investors per $1,000
Invested 4.93
3. Calculation of Certificate Interest
Class A Certificate Rate 5.5750%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,824,263.89
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,824,263.89
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.80
Class B Certificate Rate 5.7250%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 98,597.22
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 98,597.22
Total Class B Interest Distributable per $1,000 of
Class B Original Investment 4.93
Total Certificate Interest Distributable to
Certificateholders 1,922,861.11
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.81
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 35,038,547.77
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 36,853,217.71
Class A Monthly Principal Reinvested in Receivables 36,853,217.71
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,844,134.09
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,939,643.03
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,939,643.03
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,181,020.08
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 33,712.50
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 87,475,698.38
Percent Dollars 6.03%
Number of Accts 32,483
Percent Number of Accts 3.08%
31-60 days past due Dollars 21,137,425.48
Percent Dollars 1.46%
Number of Accts 7,386
Percent Number of Accts 0.70%
61-90 days past due Dollars 14,256,919.88
Percent Dollars 0.98%
Number of Accts 4,844
Percent Number of Accts 0.46%
91-120 days past due Dollars 10,798,723.03
Percent Dollars 0.74%
Number of Accts 3,535
Percent Number of Accts 0.33%
121-150 days past due Dollars 8,461,733.47
Percent Dollars 0.58%
Number of Accts 2,678
Percent Number of Accts 0.25%
151-180 days past due Dollars 6,831,255.01
Percent Dollars 0.47%
Number of Accts 2,057
Percent Number of 0.19%
181 + days past due Dollars 11,479,559.10
Percent Dollars 0.79%
Number of Accts 3,360
Percent Number of 0.32%
9. Base Rate Calculation
Base Rate 7.58%
Portfolio Yield (net of losses) 11.31%
Excess of Portfolio Yield over Base Rate 3.73%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 997
Ending Number of Accounts 1,055,728
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
End of Month
14-May-1996
# of Months Series in Existence: 35
Monthly Period Ended April 30, 1996
Distribution Date May 15, 1996
Determination Date May 10, 1996
1.Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,450,383,421.33
Principal Collections on the Receivables 135,201,769.80
Finance Charge Receivables 19,872,111.27
Receivables in Defaulted Accounts 7,078,061.04
End of Month - Aggregate Principal Receivables 1,422,154,686.50
Investor Interest Series 1993-1 116,666,666.66
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 305,488,019.84
Investor Percentage with respect to
Finance Charges 8.2035146%
Charged-Off Accounts 8.2035146%
Principal Receivables 14.0631678%
Seller Percentage with respect to
Finance Charges 21.4806464%
Charged-Off Accounts 21.4806464%
Principal Receivables 15.6209932%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 1,826,837.51
Available Principal Collections 18,643,590.08
Investor Default Amount 650,684.13
Aggregate Collections Allocated to Certificateholders 20,470,427.59
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest"#3) 533,333.33
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal"#4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal"#4) 2,627,607.54
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 410,181.16
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 222,222.22
Monthly Certificate Insurer Fee 10,416.67
Excess Servicing (Shortfall)(dollars) 410,181.16
Excess Servicing (Shortfall)(percentage of Invester Interest) 3.69%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,200,000.00
Total Distribution to Investors per $1,000 Invested 86.00
3. Calculation of Certificate Interest
Certificate Rate 4.80%
This Month Certificate Interest 533,333.33
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificate 533,333.33
Total Certificate Interest Distributable per $1,000 of Original
Investment 2.67
4. Calculation of Monthly Principal
Beginning Investor Interest 133,333,333.33
Available Principal Collections 18,643,590.08
Investor Default Amount 650,684.13
Total Investor Monthly Principal 19,294,274.21
Investor Monthly Principal Reinvested in Receivables 2,627,607.54
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 116,666,666.66
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.5833333
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 133,333,333.33
Monthly Servicing Fee 222,222.22
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 13,500,000.00
Stated Surety Bond Amount 12,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 12,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 5,250,000.00
Required Cash Collateral Account Amount 4,666,666.67
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 24,500.00
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 4,666,666.67
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 79,296,852.64
Percent Dollars 5.58%
Number of Accts 30,677
Percent Number of Accts 2.89%
31-60 days past due Dollars 19,754,042.51
Percent Dollars 1.39%
Number of Accts 7,121
Percent Number of Accts 0.67%
61-90 days past due Dollars 13,197,197.21
Percent Dollars 0.93%
Number of Accts 4,334
Percent Number of Accts 0.41%
91-120 days past due Dollars 10,628,572.34
Percent Dollars 0.75%
Number of Accts 3,390
Percent Number of Accts 0.32%
121-150 days past due Dollars 8,211,979.02
Percent Dollars 0.58%
Number of Accts 2,535
Percent Number of Accts 0.24%
151-180 days past due Dollars 6,564,347.44
Percent Dollars 0.46%
Number of Accts 2,002
Percent Number of Accts 0.19%
181 + days past due Dollars 11,312,582.84
Percent Dollars 0.80%
Number of Accts 3,263
Percent Number of Accts 0.31%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 10.59%
Excess of Portfolio Yield over Base Rate 3.69%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 137
Number of Automatic Additonal Accounts 4,523
Ending Number of Accounts 1,060,315
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
End of Month
14-May-1996
# of Months Series in Existence: 27
Monthly Period Ended April 30, 1996
Distribution Date May 15, 1996
Determination Date May 10, 1996
1.Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,450,383,421.33
Principal Collections on the Receivables 135,201,769.80
Finance Charge Receivables 19,872,111.27
Receivables in Defaulted Accounts 7,078,061.04
End of Month - Aggregate Principal Receivables 1,422,154,686.50
Investor Interest Series 1993-1 116,666,666.66
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 305,488,019.84
Investor Percentage with respect to
Finance Charges 14.0631678%
Charged-Off Accounts 14.0631678%
Principal Receivables 14.0631678%
Seller Percentage with respect to
Finance Charges 21.4806464%
Charged-Off Accounts 21.4806464%
Principal Receivables 15.6209932%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,740,256.26
Available Principal Collections 18,643,590.08
Investor Default Amount 976,026.19
Aggregate Collections Allocated to Certificateholders 21,383,846.34
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See"Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 19,619,616.27
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 565,271.74
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 565,271.74
Excess Servicing (Shortfall) (percentage of Investor Interest) 3.39%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3. Calculation of Certificate Interest
Certificate Rate 5.10%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of Original
Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 18,643,590.08
Investor Default Amount 976,026.19
Total Investor Monthly Principal 19,619,616.27
Investor Monthly Principal Reinvested in Receivables 19,619,616.27
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial
Principal Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 32,666.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 79,296,852.64
Percent Dollars 5.58%
Number of Accts 30,677
Percent Number of Accts 2.89%
31-60 days past due Dollars 19,754,042.51
Percent Dollars 1.39%
Number of Accts 7,121
Percent Number of Accts 0.67%
61-90 days past due Dollars 13,197,197.21
Percent Dollars 0.93%
Number of Accts 4,334
Percent Number of Accts 0.41%
91-120 days past due Dollars 10,628,572.34
Percent Dollars 0.75%
Number of Accts 3,390
Percent Number of Accts 0.32%
121-150 days past due Dollars 8,211,979.02
Percent Dollars 0.58%
Number of Accts 2,535
Percent Number of Accts 0.24%
151-180 days past due Dollars 6,564,347.44
Percent Dollars 0.46%
Number of Accts 2,002
Percent Number of Accts 0.19%
181 + days past due Dollars 11,312,582.84
Percent Dollars 0.80%
Number of Accts 3,263
Percent Number of Accts 0.31%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 10.59%
Excess of Portfolio Yield over Base Rate 3.39%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 137
Number of Automatic Additonal Accounts 4,523
Ending Number of Accounts 1,060,315
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
End of Month
14-May-1996
# of Months Series in Existence: 19
Monthly Period Ended April 30, 1996
Distribution Date May 15, 1996
Determination Date May 10, 1996
Number of Days in Period 30
1.Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,450,383,421.33
Principal Collections on the Receivables 135,201,769.80
Finance Charge Receivables 19,872,111.27
Receivables in Defaulted Accounts 7,078,061.04
End of Month - Aggregate Principal Receivables 1,422,154,686.50
Investor Interest Series 1993-1 116,666,666.66
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 305,488,019.84
Total Investor Percentage with respect to
Finance Charges 28.1263356%
Charged-Off Accounts 28.1263356%
Principal Receivables 28.1263356%
Class A Percentage with respect to
Finance Charges 26.7200188%
Charged-Off Accounts 26.7200188%
Principal Receivables 26.7200188%
Class B Percentage with respect to
Finance Charges 1.4063168%
Charged-Off Accounts 1.4063168%
Principal Receivables 1.4063168%
Seller Percentage with respect to
Finance Charges 21.4806464%
Charged-Off Accounts 21.4806464%
Principal Receivables 15.6209932%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,206,486.90
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,789,166.67
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,854,449.77
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 929,537.13
Class A Required Amount 0.00
Class B Available Finance Charge Collections 274,025.63
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 98,333.33
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 97,602.62
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 44,756.35
Class B Required Amount 0.00
Total Excess Spread 974,293.48
Excess Spread and Shared Finance Charges used to Satisfy Class A
Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthy Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A Required
Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A Required
Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B Required
Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 974,293.48
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 957,226.81
Remaining Excess Servicing (Shortfall) (percentage of Investor
Interest) 2.87%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 37,287,180.15
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 39,239,232.53
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,789,166.67
Total Distribution to Class A Investors per $1,000 Invested 4.71
Total Distribution to Class B Investors 98,333.33
Total Distribution to Class B Investors per $1,000 Invested 4.92
3. Calculation of Certificate Interest
Class A Certificate Rate 5.6500%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,789,166.67
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,789,166.67
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.71
Class B Certificate Rate 5.9000%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 98,333.33
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B Certificateholders 98,333.33
Total Class B Interest Distributable per $1,000 of Class B Original
Investment 4.92
Total Certificate Interest Distributable to Certificateholders 1,887,500.00
Total Certificate Interest Distributable per $1,000 of Original
Investment 4.72
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 35,422,821.14
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 37,277,270.91
Class A Monthly Principal Reinvested in Receivables 37,277,270.91
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,864,359.01
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,961,961.62
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,961,961.62
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial
Principal Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per loan agreement 974,293.48
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 56,800.00
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 79,296,852.64
Percent Dollars 5.58%
Number of Accts 30,677
Percent Number of Accts 2.89%
31-60 days past due Dollars 19,754,042.51
Percent Dollars 1.39%
Number of Accts 7,121
Percent Number of Accts 0.67%
61-90 days past due Dollars 13,197,197.21
Percent Dollars 0.93%
Number of Accts 4,334
Percent Number of Accts 0.41%
91-120 days past due Dollars 10,628,572.34
Percent Dollars 0.75%
Number of Accts 3,390
Percent Number of Accts 0.32%
121-150 days past due Dollars 8,211,979.02
Percent Dollars 0.58%
Number of Accts 2,535
Percent Number of Accts 0.24%
151-180 days past due Dollars 6,564,347.44
Percent Dollars 0.46%
Number of Accts 2,002
Percent Number of Accts 0.19%
181 + days past due Dollars 11,312,582.84
Percent Dollars 0.80%
Number of Accts 3,263
Percent Number of Accts 0.31%
9. Base Rate Calculation
Base Rate 7.66%
Portfolio Yield (net of losses) 10.59%
Excess of Portfolio Yield over Base Rate 2.93%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 137
Number of Automatic Additonal Accounts 4,523
Ending Number of Accounts 1,060,315
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
End of Month
14-May-1996
# of Months Series in Existence: 14
Monthly Period Ended April 30, 1996
Distribution Date May 15, 1996
Determination Date May 10, 1996
Number of Days in Period 30
1.Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,450,383,421.33
Principal Collections on the Receivables 135,201,769.80
Finance Charge Receivables 19,872,111.27
Receivables in Defaulted Accounts 7,078,061.04
End of Month - Aggregate Principal Receivables 1,422,154,686.50
Investor Interest Series 1993-1 116,666,666.66
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 305,488,019.84
Total Investor Percentage with respect to
Finance Charges 28.1263356%
Charged-Off Accounts 28.1263356%
Principal Receivables 28.1263356%
Class A Percentage with respect to
Finance Charges 26.7200188%
Charged-Off Accounts 26.7200188%
Principal Receivables 26.7200188%
Class B Percentage with respect to
Finance Charges 1.4063168%
Charged-Off Accounts 1.4063168%
Principal Receivables 1.4063168%
Seller Percentage with respect to
Finance Charges 21.4806464%
Charged-Off Accounts 21.4806464%
Principal Receivables 15.6209932%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,206,486.90
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,805,000.00
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,854,449.77
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 913,703.80
Class A Required Amount 0.00
Class B Available Finance Charge Collections 274,025.63
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 97,500.00
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 97,602.62
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 45,589.68
Class B Required Amount 0.00
Total Excess Spread 959,293.48
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 959,293.48
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 943,115.70
Remaining Excess Servicing (percentage of Investor Interest) 2.83%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 37,287,180.15
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 39,239,232.53
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,805,000.00
Total Distribution to Class A Investors per $1,000 Invested 4.75
Total Distribution to Class B Investors 97,500.00
Total Distribution to Class B Investors per $1,000 Invested 4.88
3. Calculation of Certificate Interest
Class A Certificate Rate 5.7000%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,805,000.00
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,805,000.00
Total Class A Interest Distributable per $1,000 of Class A Original
Investment 4.75
Class B Certificate Rate 5.8500%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class B Certificate Interest 97,500.00
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B Certificateholders 97,500.00
Total Class B Interest Distributable per $1,000 of Class B Original
Investment 4.88
Total Certificate Interest Distributable to Certificateholders 1,902,500.00
Total Certificate Interest Distributable per $1,000 of Original
Investment 4.76
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 35,422,821.14
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 37,277,270.91
Class A Monthly Principal Reinvested in Receivables 37,277,270.91
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,864,359.01
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,961,961.62
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,961,961.62
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial
Principal Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 959,293.48
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 37,333.33
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due
Dollars 79,296,852.64
Percent Dollars 5.58%
Number of Accts 30,677
Percent Number of Accts 2.89%
31-60 days past due Dollars 19,754,042.51
Percent Dollars 1.39%
Number of Accts 7,121
Percent Number of Accts 0.67%
61-90 days past due Dollars 13,197,197.21
Percent Dollars 0.93%
Number of Accts 4,334
Percent Number of Accts 0.41%
91-120 days past due Dollars 10,628,572.34
Percent Dollars 0.75%
Number of Accts 3,390
Percent Number of Accts 0.32%
121-150 days past due Dollars 8,211,979.02
Percent Dollars 0.58%
Number of Accts 2,535
Percent Number of Accts 0.24%
151-180 days past due Dollars 6,564,347.44
Percent Dollars 0.46%
Number of Accts 2,002
Percent Number of Accts 0.19%
181 + days past due Dollars 11,312,582.84
Percent Dollars 0.80%
Number of Accts 3,263
Percent Number of Accts 0.31%
9. Base Rate Calculation
Base Rate 7.71%
Portfolio Yield (net of losses) 10.59%
Excess of Portfolio Yield over Base Rate 2.88%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 137
Number of Automatic Additonal Accounts 4,523
Ending Number of Accounts 1,060,315
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 36
Monthly Period Ended May 31, 1996
Distribution Date June 17, 1996
Determination Date June 10, 1996
1. Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,422,154,686.50 (1)
Principal Collections on the Receivables 166,343,979.97
Finance Charge Receivables 25,190,357.84
Receivables in Defaulted Accounts 8,312,432.51
End of Month - Aggregate Principal Receivables 1,737,430,488.58
Investor Interest Series 1993-1 100,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 637,430,488.58
Investor Percentage with respect to...
Finance Charges 5.7556259%
Charged-Off Accounts 5.7556259%
Principal Receivables 11.5112519%
Seller Percentage with respect to ...
Finance Charges 36.6881146%
Charged-Off Accounts 36.6881146%
Principal Receivables 30.9324886%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,066,494.67
Available Principal Collections 23,393,233.04
Investor Default Amount 681,911.61
Aggregate Collections Allocated to Certificateholders 25,459,727.71
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 466,666.67
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 7,408,477.98
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 714,357.37
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Inv 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 194,444.44
Monthly Certificate Insurer Fee 9,114.58
Excess Servicing (Shortfall) (dollars) 714,357.37
Excess Servicing (Shortfall) (percentage of Investor Interest) 7.35%(1)
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,133,333.34
Total Distribution to Investors per $1,000 Invested 85.67
3. Calculation of Certificate Interest
Certificate Rate 4.80%
This Month Certificate Interest 466,666.67
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 466,666.67
Total Certificate Interest Distributable per $1,000 of Original
Investment 2.33
4. Calculation of Monthly Principal
Beginning Investor Interest 116,666,666.67
Available Principal Collections 23,393,233.04
Investor Default Amount 681,911.61
Total Investor Monthly Principal 24,075,144.65
Investor Monthly Principal Reinvested in Receivables 7,408,477.98
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 100,000,000.00
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial
Principal Amount to 7 decimal places) 0.5000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 116,666,666.67
Monthly Servicing Fee 194,444.44
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 12,000,000.00
Stated Surety Bond Amount 10,500,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 10,500,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 4,666,666.67
Required Cash Collateral Account Amount 4,083,333.33
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 21,097.22
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 4,083,333.33
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 97,548,253.05
Percent Dollars 5.61%
Number of Accts 36,317
Percent Number of Accts 2.91%
31-60 days past due Dollars 21,958,963.73
Percent Dollars 1.26%
Number of Accts 7,966
Percent Number of Accts 0.64%
61-90 days past due Dollars 14,730,485.51
Percent Dollars 0.85%
Number of Accts 4,842
Percent Number of Accts 0.39%
91-120 days past due Dollars 11,197,283.55
Percent Dollars 0.64%
Number of Accts 3,466
Percent Number of Accts 0.28%
121-150 days past due Dollars 9,746,345.49
Percent Dollars 0.56%
Number of Accts 2,818
Percent Number of Accts 0.23%
151-180 days past due Dollars 7,397,603.39
Percent Dollars 0.43%
Number of Accts 2,207
Percent Number of Accts 0.18%
181 + days past due Dollars 12,108,376.13
Percent Dollars 0.70%
Number of Accts 3,446
Percent Number of Accts 0.28%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 14.24%(1)
Excess of Portfolio Yield over Base Rate 7.34%
11. Number of Accounts in the Trust
Number of Additional Accounts 180,335
Number of Removed Accounts 0
Number of Automatic Additional Accounts 5,034
Ending Number of Accounts 1,245,938
Note (1): Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the May Servicer's Report does not include
the receivables arising under the addition of accounts to the Trust on
May 1, 1996. However, Principal Collections on the Receivables, Finance Charge
Receivables and Receivables in Defaulted Accounts arising under such Additional
Accounts to the Trust were included in the May Servicer's Report, in accordance
with the standard methodology. Were the Principal Receivables arising under
the May 1st addition included in the Aggregate Principal Receivables, the
percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 11.43%
Receivables in Defaulted Accounts: 5.63%
Excess Spread:
Series 1993-1: 4.55%
Series 1994-1: 4.25%
Series 1994-2: 3.24%
Series 1995-1: 3.19%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 28
Monthly Period Ended May 31, 1996
Distribution Date June 17, 1996
Determination Date June 10, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,422,154,686.50 (1)
Principal Collections on the Receivables 166,343,979.97
Finance Charge Receivables 25,190,357.84
Receivables in Defaulted Accounts 8,312,432.51
End of Month - Aggregate Principal Receivables 1,737,430,488.58
Investor Interest Series 1993-1 100,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 637,430,488.58
Investor Percentage with respect to...
Finance Charges 11.5112519%
Charged-Off Accounts 11.5112519%
Principal Receivables 11.5112519%
Seller Percentage with respect to ...
Finance Charges 36.6881146%
Charged-Off Accounts 36.6881146%
Principal Receivables 30.9324886%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 3,542,562.29
Available Principal Collections 23,393,233.04
Investor Default Amount 1,168,991.33
Aggregate Collections Allocated to Certificateholders 26,935,795.33
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 24,562,224.37
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 1,174,612.63
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 1,174,612.63
Excess Servicing (Shortfall) (percentage of Investor Interest) 7.05%(1)
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3. Calculation of Certificate Interest
Certificate Rate 5.10%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 23,393,233.04
Investor Default Amount 1,168,991.33
Total Investor Monthly Principal 24,562,224.37
Investor Monthly Principal Reinvested in Receivables 24,562,224.37
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 31,645.83
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 97,548,253.05
Percent Dollars 5.61%
Number of Accts 36,317
Percent Number of Accts 2.91%
31-60 days past due Dollars 21,958,963.73
Percent Dollars 1.26%
Number of Accts 7,966
Percent Number of Accts 0.64%
61-90 days past due Dollars 14,730,485.51
Percent Dollars 0.85%
Number of Accts 4,842
Percent Number of Accts 0.39%
91-120 days past due Dollars 11,197,283.55
Percent Dollars 0.64%
Number of Accts 3,466
Percent Number of Accts 0.28%
121-150 days past due Dollars 9,746,345.49
Percent Dollars 0.56%
Number of Accts 2,818
Percent Number of Accts 0.23%
151-180 days past due Dollars 7,397,603.39
Percent Dollars 0.43%
Number of Accts 2,207
Percent Number of Accts 0.18%
181 + days past due Dollars 12,108,376.13
Percent Dollars 0.70%
Number of Accts 3,446
Percent Number of Accts 0.28%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 14.24%(1)
Excess of Portfolio Yield over Base Rate 7.04%
11. Number of Accounts in the Trust
Number of Additional Accounts 180,335
Number of Removed Accounts 0
Number of Automatic Additional Accounts 5,034
Ending Number of Accounts 1,245,938
Note (1): Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the May Servicer's Report does not include the
receivables arising under the addition of accounts to the Trust on May 1, 1996.
However, Principal Collections on the Receivables, Finance Charge Receivables
and Receivables in Defaulted Accounts arising under such Additional Accounts to
the Trust were included in the May Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under the May 1st
addition included in the Aggregate Principal Receivables, the percentages would
be calculated as set forth below:
Portfolio Yield (net of losses): 11.43%
Receivables in Defaulted Accounts: 5.63%
Excess Spread:
Series 1993-1: 4.55%
Series 1994-1: 4.25%
Series 1994-2: 3.24%
Series 1995-1: 3.19%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 20
Monthly Period Ended May 31, 1996
Distribution Date June 17, 1996
Determination Date June 10, 1996
Number of Days in Period 33
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,422,154,686.50 (1)
Principal Collections on the Receivables 166,343,979.97
Finance Charge Receivables 25,190,357.84
Receivables in Defaulted Accounts 8,312,432.51
End of Month - Aggregate Principal Receivables 1,737,430,488.58
Investor Interest Series 1993-1 100,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 637,430,488.58
Total Investor Percentage with respect to...
Finance Charges 23.0225038%
Charged-Off Accounts 23.0225038%
Principal Receivables 23.0225038%
Class A Percentage with respect to...
Finance Charges 21.8713786%
Charged-Off Accounts 21.8713786%
Principal Receivables 21.8713786%
Class B Percentage with respect to...
Finance Charges 1.1511252%
Charged-Off Accounts 1.1511252%
Principal Receivables 1.1511252%
Seller Percentage with respect to ...
Finance Charges 36.6881146%
Charged-Off Accounts 36.6881146%
Principal Receivables 30.9324886%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,730,868.36
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,943,592.02
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,221,083.53
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,932,859.48
Class A Required Amount 0.00
Class B Available Finance Charge Collections 354,256.23
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 106,877.65
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 116,899.13
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 97,146.12
Class B Required Amount 0.00
Total Excess Spread 2,030,005.60
Excess Spread and Shared Finance Charges used to Satisfy Class
A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 2,030,005.60
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 2,013,472.27
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 6.04%(1)
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 46,786,466.07
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 49,124,448.73
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,943,592.02
Total Distribution to Class A Investors per $1,000 Invested 5.11
Total Distribution to Class B Investors 106,877.65
Total Distribution to Class B Investors per $1,000 Invested 5.34
3. Calculation of Certificate Interest
Class A Certificate Rate 5.57969%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,943,592.02
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A Certificateholders
1,943,592.02
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 5.11
Class B Certificate Rate 5.82969%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class B Certificate Interest 106,877.65
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B Certificateholders
106,877.65
Total Class B Interest Distributable per $1,000 of Class B Original
Investment 5.34
Total Certificate Interest Distributable to
Certificateholders 2,050,469.67
Total Certificate Interest Distributable per $1,000 of Original
Investment 5.13
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 44,447,142.77
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 46,668,226.30
Class A Monthly Principal Reinvested in Receivables 46,668,226.30
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 2,339,323.30
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,456,222.43
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,456,222.43
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial
Principal Amount to 7 Decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per loan agreement 2,030,005.60
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 54,379.17
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 97,548,253.05
Percent Dollars 5.61%
Number of Accts 36,317
Percent Number of Accts 2.91%
31-60 days past due Dollars 21,958,963.73
Percent Dollars 1.26%
Number of Accts 7,966
Percent Number of Accts 0.64%
61-90 days past due Dollars 14,730,485.51
Percent Dollars 0.85%
Number of Accts 4,842
Percent Number of Accts 0.39%
91-120 days past due Dollars 11,197,283.55
Percent Dollars 0.64%
Number of Accts 3,466
Percent Number of Accts 0.28%
121-150 days past due Dollars 9,746,345.49
Percent Dollars 0.56%
Number of Accts 2,818
Percent Number of Accts 0.23%
151-180 days past due Dollars 7,397,603.39
Percent Dollars 0.43%
Number of Accts 2,207
Percent Number of Accts 0.18%
181 + days past due Dollars 12,108,376.13
Percent Dollars 0.70%
Number of Accts 3,446
Percent Number of Accts 0.28%
9. Base Rate Calculation
Base Rate 7.59%
Portfolio Yield (net of losses) 14.24%(1)
Excess of Portfolio Yield over Base Rate 6.65%
10. Number of Accounts in the Trust
Number of Additional Accounts 180,335
Number of Removed Accounts 0
Number of Automatic Additional Accounts 5,034
Ending Number of Accounts 1,245,938
Note (1): Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the May Servicer's Report does not include the
receivables arising under the addition of accounts to the Trust on May 1, 1996.
However, Principal Collections on the Receivables, Finance Charge Receivables
and Receivables in Defaulted Accounts arising under such Additional Accounts to
the Trust were included in the May Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under the May 1st
addition included in the Aggregate Principal Receivables, the percentages would
be calculated as set forth below:
Portfolio Yield (net of losses): 11.43%
Receivables in Defaulted Accounts: 5.63%
Excess Spread:
Series 1993-1: 4.55%
Series 1994-1: 4.25%
Series 1994-2: 3.24%
Series 1995-1: 3.19%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 15
Monthly Period Ended May 31, 1996
Distribution Date June 17, 1996
Determination Date June 10, 1996
Number of Days in Period 33
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,422,154,686.50 (1)
Principal Collections on the Receivables 166,343,979.97
Finance Charge Receivables 25,190,357.84
Receivables in Defaulted Accounts 8,312,432.51
End of Month - Aggregate Principal Receivables 1,737,430,488.58
Investor Interest Series 1993-1 100,000,000.00
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Seller Principal Receivables 637,430,488.58
Total Investor Percentage with respect to...
Finance Charges 23.0225038%
Charged-Off Accounts 23.0225038%
Principal Receivables 23.0225038%
Class A Percentage with respect to...
Finance Charges 21.8713786%
Charged-Off Accounts 21.8713786%
Principal Receivables 21.8713786%
Class B Percentage with respect to...
Finance Charges 1.1511252%
Charged-Off Accounts 1.1511252%
Principal Receivables 1.1511252%
Seller Percentage with respect to ...
Finance Charges 36.6881146%
Charged-Off Accounts 36.6881146%
Principal Receivables 30.9324886%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,730,868.36
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,961,008.68
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,221,083.53
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,915,442.81
Class A Required Amount 0.00
Class B Available Finance Charge Collections 354,256.23
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 105,960.98
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 116,899.13
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 98,062.79
Class B Required Amount 0.00
Total Excess Spread 2,013,505.60
Excess Spread and Shared Finance Charges used to Satisfy
Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed CLass A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 2,013,505.60
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,997,833.37
Remaining Excess Servicing (percentage of Investor Interest) 5.99%(1)
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 46,786,466.07
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 49,124,448.73
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,961,008.68
Total Distribution to Class A Investors per $1,000 Invested 5.16
Total Distribution to Class B Investors 105,960.98
Total Distribution to Class B Investors per $1,000 Invested 5.30
3. Calculation of Certificate Interest
Class A Certificate Rate 5.62969%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,961,008.68
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,961,008.68
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 5.16
Class B Certificate Rate 5.77969%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 105,960.98
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 105,960.98
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.30
Total Certificate Interest Distributable to Certificateholders 2,066,969.66
Total Certificate Interest Distributable per $1,000 of
Original Investment 5.17
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 44,447,142.77
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 46,668,226.30
Class A Monthly Principal Reinvested in Receivables 46,668,226.30
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 2,339,323.30
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,456,222.43
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,456,222.43
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor (Ending Certificate Balance divided by Initial
Principal Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 2,013,505.60
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 36,166.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 97,548,253.05
Percent Dollars 5.61%
Number of Accts 36,317
Percent Number of Accts 2.91%
31-60 days past due Dollars 21,958,963.73
Percent Dollars 1.26%
Number of Accts 7,966
Percent Number of Accts 0.64%
61-90 days past due Dollars 14,730,485.51
Percent Dollars 0.85%
Number of Accts 4,842
Percent Number of Accts 0.39%
91-120 days past due Dollars 11,197,283.55
Percent Dollars 0.64%
Number of Accts 3,466
Percent Number of Accts 0.28%
121-150 days past due Dollars 9,746,345.49
Percent Dollars 0.56%
Number of Accts 2,818
Percent Number of Accts 0.23%
151-180 days past due Dollars 7,397,603.39
Percent Dollars 0.43%
Number of Accts 2,207
Percent Number of Accts 0.18%
181 + days past due Dollars 12,108,376.13
Percent Dollars 0.70%
Number of Accts 3,446
Percent Number of Accts 0.28%
9. Base Rate Calculation
Base Rate 7.64%
Portfolio Yield (net of losses) 14.24%(1)
Excess of Portfolio Yield over Base Rate 6.60%
10. Number of Accounts in the Trust
Number of Additional Accounts 180,335
Number of Removed Accounts 0
Number of Automatic Additional Accounts 5,034
Ending Number of Accounts 1,245,938
Note (1): Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the May Servicer's Report does not include the
receivables arising under the addition of accounts to the Trust on May 1, 1996.
However, Principal Collections on the Receivables, Finance Charge Receivables
and Receivables in Defaulted Accounts arising under such Additional Accounts to
the Trust were included in the May Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under the May 1st
addition included in the Aggregate Principal Receivables, the percentages would
be calculated as set forth below:
Portfolio Yield (net of losses): 11.43%
Receivables in Defaulted Accounts: 5.63%
Excess Spread:
Series 1993-1: 4.55%
Series 1994-1: 4.25%
Series 1994-2: 3.24%
Series 1995-1: 3.19%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 37
Monthly Period Ended June 30, 1996
Distribution Date July 15, 1996
Determination Date July 10, 1996
1.Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,737,430,488.58
Principal Collections on the Receivables 143,059,833.25
Finance Charge Receivables 23,988,195.68
Receivables in Defaulted Accounts 8,715,746.24
End of Month - Aggregate Principal Receivables 1,709,546,778.56
Investor Interest Series 1993-1 83,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 226,213,445.23
Investor Percentage with respect to...
Finance Charges 4.8745863%
Charged-Off Accounts 4.8745863%
Principal Receivables 11.6990072%
Seller Percentage with respect to ...
Finance Charges 13.2323636%
Charged-Off Accounts 13.2323636%
Principal Receivables 18.1069499%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 1,380,670.81
Available Principal Collections 16,467,977.76
Investor Default Amount 501,645.75
Aggregate Collections Allocated to Certificateholders 17,848,648.58
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 400,000.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 302,956.85
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 304,545.90
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investments 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 166,666.67
Monthly Certificate Insurer Fee 7,812.50
Excess Servicing (Shortfall) (dollars) 304,545.90
Excess Servicing (Shortfall) (percentage of Investor interest) 3.65%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 814,427.61
Deposit of Shared Finance Charge Collections for other Series 74,038.88
Total Distribution to Investors 17,066,666.67
Total Distribution to Investors per $1,000 Invested 85.33
3. Calculation of Certificate Interest
Certificate Rate 4.80%
This Month Certificate Interest 400,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 400,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 2.00
4. Calculation of Monthly Principal
Beginning Investor Interest 100,000,000.00
Available Principal Collections 16,467,977.76
Investor Default Amount 501,645.75
Total Investor Monthly Principal 16,969,623.51
Investor Monthly Principal Reinvested in Receivables 302,956.85
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 83,333,333.33
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.4166667
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 100,000,000.00
Monthly Servicing Fee 166,666.67
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 10,500,000.00
Stated Surety Bond Amount 9,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 9,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 4,083,333.33
Required Cash Collateral Account Amount 3,500,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 16,475.12
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 3,500,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 107,281,349.63
Percent Dollars 6.28%
Number of Accts 37,748
Percent Number of Acct 3.03%
31-60 days past due Dollars 24,844,369.63
Percent Dollars 1.45%
Number of Accts 9,062
Percent Number of Acct 0.73%
61-90 days past due Dollars 14,909,183.30
Percent Dollars 0.87%
Number of Accts 4,900
Percent Number of Acct 0.39%
91-120 days past due Dollars 11,518,942.69
Percent Dollars 0.67%
Number of Accts 3,592
Percent Number of Acct 0.29%
121-150 days past due Dollars 8,795,208.17
Percent Dollars 0.51%
Number of Accts 2,580
Percent Number of Acct 0.21%
151-180 days past due Dollars 7,959,777.86
Percent Dollars 0.47%
Number of Accts 2,260
Percent Number of Acct 0.18%
181 + days past due Dollars 11,849,939.62
Percent Dollars 0.69%
Number of Accts 3,439
Percent Number of Acct 0.28%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 10.55%
Excess of Portfolio Yield over Base Rate 3.65%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,842
Ending Number of Accounts 1,247,737
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 29
Monthly Period Ended June 30, 1996
Distribution Date July 15, 1996
Determination Date July 10, 1996
1.Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,737,430,488.58
Principal Collections on the Receivables 143,059,833.25
Finance Charge Receivables 23,988,195.68
Receivables in Defaulted Accounts 8,715,746.24
End of Month - Aggregate Principal Receivables 1,709,546,778.56
Investor Interest Series 1993-1 83,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 226,213,445.23
Investor Percentage with respect to...
Finance Charges 11.6990072%
Charged-Off Accounts 11.6990072%
Principal Receivables 11.6990072%
Seller Percentage with respect to ...
Finance Charges 13.2323636%
Charged-Off Accounts 13.2323636%
Principal Receivables 18.1069499%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,761,341.63
Available Principal Collections 16,467,977.76
Investor Default Amount 1,003,291.50
Aggregate Collections Allocated to Certificateholders 19,229,319.39
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See"Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 17,471,269.26
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 559,091.80
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 559,091.80
Excess Servicing (Shortfall) (percentage of Investor interest) 3.35%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 814,427.61
Deposit of Shared Finance Charge Collections for other Series 148,077.75
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3. Calculation of Certificate Interest
Certificate Rate 5.10%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 16,467,977.76
Investor Default Amount 1,003,291.50
Total Investor Monthly Principal 17,471,269.26
Investor Monthly Principal Reinvested in Receivables 17,471,269.26
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 28,243.06
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 107,281,349.63
Percent Dollars 6.28%
Number of Accts 37,748
Percent Number of Acct 3.03%
31-60 days past due Dollars 24,844,369.63
Percent Dollars 1.45%
Number of Accts 9,062
Percent Number of Acct 0.73%
61-90 days past due Dollars 14,909,183.30
Percent Dollars 0.87%
Number of Accts 4,900
Percent Number of Acct 0.39%
91-120 days past due Dollars 11,518,942.69
Percent Dollars 0.67%
Number of Accts 3,592
Percent Number of Acct 0.29%
121-150 days past due Dollars 8,795,208.17
Percent Dollars 0.51%
Number of Accts 2,580
Percent Number of Acct 0.21%
151-180 days past due Dollars 7,959,777.86
Percent Dollars 0.47%
Number of Accts 2,260
Percent Number of Acct 0.18%
181 + days past due Dollars 11,849,939.62
Percent Dollars 0.69%
Number of Accts 3,439
Percent Number of Acct 0.28%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 10.55%
Excess of Portfolio Yield over Base Rate 3.35%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,842
Ending Number of Accounts 1,247,737
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 21
Monthly Period Ended June 30, 1996
Distribution Date July 15, 1996
Determination Date July 10, 1996
Number of Days in Period 28
1.Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,737,430,488.58
Principal Collections on the Receivables 143,059,833.25
Finance Charge Receivables 23,988,195.68
Receivables in Defaulted Accounts 8,715,746.24
End of Month - Aggregate Principal Receivables 1,709,546,778.56
Investor Interest Series 1993-1 83,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 226,213,445.23
Total Investor Percentage with respect to...
Finance Charges 23.3980143%
Charged-Off Accounts 23.3980143%
Principal Receivables 23.3980143%
Class A Percentage with respect to...
Finance Charges 22.2281136%
Charged-Off Accounts 22.2281136%
Principal Receivables 22.2281136%
Class B Percentage with respect to...
Finance Charges 1.1699007%
Charged-Off Accounts 1.1699007%
Principal Receivables 1.1699007%
Seller Percentage with respect to ...
Finance Charges 13.2323636%
Charged-Off Accounts 13.2323636%
Principal Receivables 18.1069499%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,246,549.10
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,668,733.27
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,906,253.86
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,038,228.64
Class A Required Amount 0.00
Class B Available Finance Charge Collections 276,134.16
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 91,716.96
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 100,329.15
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 50,754.73
Class B Required Amount 0.00
Total Excess Spread 1,088,983.37
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,088,983.37
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,074,050.04
Remaining Excess Servicing (Shortfall) (percentage of Investor
Interest) 3.22%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 32,935,955.53
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 34,942,538.53
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 814,427.61
Deposit of Shared Finance Charge Collections for other Series 296,155.49
Total Distribution to Class A Investors 1,668,733.27
Total Distribution to Class A Investors per $1,000 Invested 4.39
Total Distribution to Class B Investors 91,716.96
Total Distribution to Class B Investors per $1,000 Invested 4.59
3. Calculation of Certificate Interest
Class A Certificate Rate 5.64609%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,668,733.27
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A Certificate-
holders 1,668,733.27
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.39
Class B Certificate Rate 5.89609%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 91,716.96
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B Certificate-
holders 91,716.96
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.59
Total Certificate Interest Distributable to Certificateholders 1,760,450.22
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.40
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 31,289,157.75
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 33,195,411.61
Class A Monthly Principal Reinvested in Receivables 33,195,411.61
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,646,797.78
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,747,126.92
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,747,126.92
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per loan agreement 1,088,983.37
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 49,408.33
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 107,281,349.63
Percent Dollars 6.28%
Number of Accts 37,748
Percent Number of Acct 3.03%
31-60 days past due Dollars 24,844,369.63
Percent Dollars 1.45%
Number of Accts 9,062
Percent Number of Acct 0.73%
61-90 days past due Dollars 14,909,183.30
Percent Dollars 0.87%
Number of Accts 4,900
Percent Number of Acct 0.39%
91-120 days past due Dollars 11,518,942.69
Percent Dollars 0.67%
Number of Accts 3,592
Percent Number of Acct 0.29%
121-150 days past due Dollars 8,795,208.17
Percent Dollars 0.51%
Number of Accts 2,580
Percent Number of Acct 0.21%
151-180 days past due Dollars 7,959,777.86
Percent Dollars 0.47%
Number of Accts 2,260
Percent Number of Acct 0.18%
181 + days past due Dollars 11,849,939.62
Percent Dollars 0.69%
Number of Accts 3,439
Percent Number of Acct 0.28%
9. Base Rate Calculation
Base Rate 7.65%
Portfolio Yield (net of losses) 10.55%
Excess of Portfolio Yield over Base Rate 2.89%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,842
Ending Number of Accounts 1,247,737
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 16
Monthly Period Ended June 30, 1996
Distribution Date July 15, 1996
Determination Date July 10, 1996
Number of Days in Period 28
1.Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,737,430,488.58
Principal Collections on the Receivables 143,059,833.25
Finance Charge Receivables 23,988,195.68
Receivables in Defaulted Accounts 8,715,746.24
End of Month - Aggregate Principal Receivables 1,709,546,778.56
Investor Interest Series 1993-1 83,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 226,213,445.23
Total Investor Percentage with respect to...
Finance Charges 23.3980143%
Charged-Off Accounts 23.3980143%
Principal Receivables 23.3980143%
Class A Percentage with respect to...
Finance Charges 22.2281136%
Charged-Off Accounts 22.2281136%
Principal Receivables 22.2281136%
Class B Percentage with respect to...
Finance Charges 1.1699007%
Charged-Off Accounts 1.1699007%
Principal Receivables 1.1699007%
Seller Percentage with respect to ...
Finance Charges 13.2323636%
Charged-Off Accounts 13.2323636%
Principal Receivables 18.1069499%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,246,549.10
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,683,511.04
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,906,253.86
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,023,450.86
Class A Required Amount 0.00
Class B Available Finance Charge Collections 276,134.16
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 90,939.18
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 100,329.15
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 51,532.51
Class B Required Amount 0.00
Total Excess Spread 1,074,983.37
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,074,983.37
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,060,827.81
Remaining Excess Servicing (percentage of Investor Interest) 3.18%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 32,935,955.53
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 34,942,538.53
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 814,427.61
Deposit of Shared Finance Charge Collections for other Series 296,155.49
Total Distribution to Class A Investors 1,683,511.04
Total Distribution to Class A Investors per $1,000 Invested 4.43
Total Distribution to Class B Investors 90,939.18
Total Distribution to Class B Investors per $1,000 Invested 4.55
3. Calculation of Certificate Interest
Class A Certificate Rate 5.69609%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,683,511.04
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A Certificate-
holders 1,683,511.04
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.43
Class B Certificate Rate 5.84609%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 90,939.18
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B Certificate-
holders 90,939.18
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.55
Total Certificate Interest Distributable to Certificate-
holders 1,774,450.22
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.44
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 31,289,157.75
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 33,195,411.61
Class A Monthly Principal Reinvested in Receivables 33,195,411.61
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,646,797.78
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,747,126.92
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,747,126.92
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,074,983.37
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 32,277.78
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 107,281,349.63
Percent Dollars 6.28%
Number of Accts 37,748
Percent Number of Acct 3.03%
31-60 days past due Dollars 24,844,369.63
Percent Dollars 1.45%
Number of Accts 9,062
Percent Number of Acct 0.73%
61-90 days past due Dollars 14,909,183.30
Percent Dollars 0.87%
Number of Accts 4,900
Percent Number of Acct 0.39%
91-120 days past due Dollars 11,518,942.69
Percent Dollars 0.67%
Number of Accts 3,592
Percent Number of Acct 0.29%
121-150 days past due Dollars 8,795,208.17
Percent Dollars 0.51%
Number of Accts 2,580
Percent Number of Acct 0.21%
151-180 days past due Dollars 7,959,777.86
Percent Dollars 0.47%
Number of Accts 2,260
Percent Number of Acct 0.18%
181 + days past due Dollars 11,849,939.62
Percent Dollars 0.69%
Number of Accts 3,439
Percent Number of Acct 0.28%
9. Base Rate Calculation
Base Rate 7.70%
Portfolio Yield (net of losses) 10.55%
Excess of Portfolio Yield over Base Rate 2.84%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,842
Ending Number of Accounts 1,247,737
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
# of Months Series in Existence: 0
Monthly Period Ended June 30, 1996
Distribution Date July 15, 1996
Determination Date July 10, 1996
Number of Days in Period 13
1.Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 1,737,430,488.58
Principal Collections on the Receivables 143,059,833.25
Finance Charge Receivables 23,988,195.68
Receivables in Defaulted Accounts 8,715,746.24
End of Month - Aggregate Principal Receivables 1,709,546,778.56
Investor Interest Series 1993-1 83,333,333.33
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 226,213,445.23
Total Investor Percentage with respect to...
Finance Charges 23.3980143%
Charged-Off Accounts 23.3980143%
Principal Receivables 11.6990072%
Class A Percentage with respect to...
Finance Charges 22.1696186%
Charged-Off Accounts 22.1696186%
Principal Receivables 11.0848093%
Class B Percentage with respect to...
Finance Charges 1.2283958%
Charged-Off Accounts 1.2283958%
Principal Receivables 0.6141979%
Seller Percentage with respect to ...
Finance Charges 13.2323636%
Charged-Off Accounts 13.2323636%
Principal Receivables 18.1069499%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 0.00
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 770,592.38
Unpaid Class A Monthly Cap Interest 770,592.38
Class A Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 0.00
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 0.00
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 0.00
Class A Required Amount 770,592.38
Class B Available Finance Charge Collections 0.00
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 43,835.23
Unpaid Class B Monthly Cap Interest 43,835.23
Class B Monthly Servicing Fee
(See"Calculation of Monthly Servicing Fee" #6) 0.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 0.00
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 0.00
Class B Required Amount 43,835.23
Total Excess Spread 0.00
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 770,592.38
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 43,835.23
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 770,592.38
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 770,592.38
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 43,835.23
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 43,835.23
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 0.00
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 0.00
Remaining Excess Servicing (percentage of Investor Interest) 0.00%
Class A Investor Certificate Interest Shortfall 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 0.00
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 0.00
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 814,427.61
Draw on Shared Finance Charge Collections from other Series 814,427.61
Withdrawal from Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 770,592.38
Total Distribution to Class A Investors per $1,000 Invested 2.03
Total Distribution to Class B Investors 43,835.23
Total Distribution to Class B Investors per $1,000 Invested 2.09
3. Calculation of Certificate Interest
Class A Certificate Rate 5.63047%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 770,592.38
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A Certificate-
holders 770,592.38
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 2.03
Class B Certificate Rate 5.78047%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 43,835.23
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B Certificate-
holders 43,835.23
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 2.09
Total Certificate Interest Distributable to Certificateholders 814,427.61
Total Certificate Interest Distributable per $1,000 of Original
Investment 2.04
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 0.00
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 0.00
Class A Monthly Principal Reinvested in Receivables 0.00
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 0.00
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 0.00
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 0.00
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 0.00
Class B Monthly Servicing Fee 0.00
Total Monthly Servicing Fee 0.00
7. Cash Collateral Account Activity
Beginning of Month Balance 0.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 0.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 11,875.00
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 107,281,349.63
Percent Dollars 6.28%
Number of Accts 37,748
Percent Number of Acct 3.03%
31-60 days past due Dollars 24,844,369.63
Percent Dollars 1.45%
Number of Accts 9,062
Percent Number of Acct 0.73%
61-90 days past due Dollars 14,909,183.30
Percent Dollars 0.87%
Number of Accts 4,900
Percent Number of Acct 0.39%
91-120 days past due Dollars 11,518,942.69
Percent Dollars 0.67%
Number of Accts 3,592
Percent Number of Acct 0.29%
121-150 days past due Dollars 8,795,208.17
Percent Dollars 0.51%
Number of Accts 2,580
Percent Number of Acct 0.21%
151-180 days past due Dollars 7,959,777.86
Percent Dollars 0.47%
Number of Accts 2,260
Percent Number of Acct 0.18%
181 + days past due Dollars 11,849,939.62
Percent Dollars 0.69%
Number of Accts 3,439
Percent Number of Acct 0.28%
9. Base Rate Calculation
Base Rate 7.64%
Portfolio Yield (net of losses) Not Applicable
Excess of Portfolio Yield over Base Rate Not Applicable
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,842
Ending Number of Accounts 1,247,737
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 38
Monthly Period Ended July 31, 1996
Distribution Date August 15, 1996
Determination Date August 9, 1996
1. Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,709,546,778.56
Principal Collections on the Receivables 164,562,077.07
Finance Charge Receivables 24,434,398.04
Receivables in Defaulted Accounts 8,577,132.27
End of Month - Aggregate Principal Receivables 1,694,424,654.71
Investor Interest Series 1993-1 66,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 227,757,988.04
Investor Percentage with respect to...
Finance Charges 3.9344722%
Charged-Off Accounts 3.9344722%
Principal Receivables 11.8034165%
Seller Percentage with respect to ...
Finance Charges 13.4416120%
Charged-Off Accounts 13.4416120%
Principal Receivables 17.3760842%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 1,191,075.82
Available Principal Collections 19,252,129.18
Investor Default Amount 418,099.72
Aggregate Collections Allocated to Certificateholders 20,443,205.00
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 333,333.33
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 3,003,562.22
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 294,243.47
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 138,888.89
Monthly Certificate Insurer Fee 6,510.42
Excess Servicing (Shortfall) (dollars) 294,243.47
Excess Servicing (Shortfall) (percentage of Investor Interest) 4.24%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,000,000.00
Total Distribution to Investors per $1,000 Invested 85.00
3. Calculation of Certificate Interest
Certificate Rate 4.80000%
This Month Certificate Interest 333,333.33
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 333,333.33
Total Certificate Interest Distributable per $1,000 of Original
Investment 1.67
4. Calculation of Monthly Principal
Beginning Investor Interest 83,333,333.33
Available Principal Collections 19,252,129.18
Investor Default Amount 418,099.72
Total Investor Monthly Principal 19,670,228.89
Investor Monthly Principal Reinvested in Receivables 3,003,562.22
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 66,666,666.67
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.3333333
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 83,333,333.33
Monthly Servicing Fee 138,888.89
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 9,000,000.00
Stated Surety Bond Amount 7,500,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 7,500,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 3,500,000.00
Required Cash Collateral Account Amount 2,916,666.67
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 16,925.20
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 2,916,666.67
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 101,299,788.30
Percent Dollars 5.98%
Number of Accts 36,452
Percent Number of Accts 2.92%
31-60 days past due Dollars 25,292,436.04
Percent Dollars 1.49%
Number of Accts 8,680
Percent Number of Accts 0.69%
61-90 days past due Dollars 16,240,685.29
Percent Dollars 0.96%
Number of Accts 5,421
Percent Number of Accts 0.43%
91-120 days past due Dollars 11,514,202.23
Percent Dollars 0.68%
Number of Accts 3,631
Percent Number of Accts 0.29%
121-150 days past due Dollars 9,021,635.94
Percent Dollars 0.53%
Number of Accts 2,710
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,362,991.95
Percent Dollars 0.43%
Number of Accts 2,113
Percent Number of Accts 0.17%
181 + days past due Dollars 12,444,065.84
Percent Dollars 0.73%
Number of Accts 3,489
Percent Number of Accts 0.28%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 11.13%
Excess of Portfolio Yield over Base Rate 4.23%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,139
Ending Number of Accounts 1,249,296
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 30
Monthly Period Ended July 31, 1996
Distribution Date August 15, 1996
Determination Date August 9, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,709,546,778.56
Principal Collections on the Receivables 164,562,077.07
Finance Charge Receivables 24,434,398.04
Receivables in Defaulted Accounts 8,577,132.27
End of Month - Aggregate Principal Receivables 1,694,424,654.71
Investor Interest Series 1993-1 66,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 227,757,988.04
Investor Percentage with respect to...
Finance Charges 11.8034165%
Charged-Off Accounts 11.8034165%
Principal Receivables 11.8034165%
Seller Percentage with respect to ...
Finance Charges 13.4416120%
Charged-Off Accounts 13.4416120%
Principal Receivables 17.3760842%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,858,581.98
Available Principal Collections 19,252,129.18
Investor Default Amount 1,003,439.32
Aggregate Collections Allocated to Certificateholders 22,110,711.15
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 20,255,568.49
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 656,184.32
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 656,184.32
Excess Servicing (Shortfall) (percentage of Investor Interest) 3.94%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 850,000.00
Total Distribution to Investors per $1,000 Invested 4.25
3. Calculation of Certificate Interest
Certificate Rate 5.10000%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificate-
holders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 19,252,129.18
Investor Default Amount 1,003,439.32
Total Investor Monthly Principal 20,255,568.49
Investor Monthly Principal Reinvested in Receivables 20,255,568.49
Controlled Amortization Amount 0.00
Maximum Monthly Principal to Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 0.00
Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 200,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 33,850.41
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 101,299,788.30
Percent Dollars 5.98%
Number of Accts 36,452
Percent Number of Accts 2.92%
31-60 days past due Dollars 25,292,436.04
Percent Dollars 1.49%
Number of Accts 8,680
Percent Number of Accts 0.69%
61-90 days past due Dollars 16,240,685.29
Percent Dollars 0.96%
Number of Accts 5,421
Percent Number of Accts 0.43%
91-120 days past due Dollars 11,514,202.23
Percent Dollars 0.68%
Number of Accts 3,631
Percent Number of Accts 0.29%
121-150 days past due Dollars 9,021,635.94
Percent Dollars 0.53%
Number of Accts 2,710
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,362,991.95
Percent Dollars 0.43%
Number of Accts 2,113
Percent Number of Accts 0.17%
181 + days past due Dollars 12,444,065.84
Percent Dollars 0.73%
Number of Accts 3,489
Percent Number of Accts 0.28%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.13%
Excess of Portfolio Yield over Base Rate 3.93%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,139
Ending Number of Accounts 1,249,296
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 22
Monthly Period Ended July 31, 1996
Distribution Date August 15, 1996
Determination Date August 9, 1996
Number of Days in Period 31
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,709,546,778.56
Principal Collections on the Receivables 164,562,077.07
Finance Charge Receivables 24,434,398.04
Receivables in Defaulted Accounts 8,577,132.27
End of Month - Aggregate Principal Receivables 1,694,424,654.71
Investor Interest Series 1993-1 66,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 227,757,988.04
Total Investor Percentage with respect to...
Finance Charges 23.6068331%
Charged-Off Accounts 23.6068331%
Principal Receivables 23.6068331%
Class A Percentage with respect to...
Finance Charges 22.4264914%
Charged-Off Accounts 22.4264914%
Principal Receivables 22.4264914%
Class B Percentage with respect to...
Finance Charges 1.1803417%
Charged-Off Accounts 1.1803417%
Principal Receivables 1.1803417%
Seller Percentage with respect to ...
Finance Charges 13.4416120%
Charged-Off Accounts 13.4416120%
Principal Receivables 17.3760842%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,431,305.75
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,847,526.12
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,906,534.70
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,043,911.60
Class A Required Amount 0.00
Class B Available Finance Charge Collections 285,858.20
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 101,543.77
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 100,343.93
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 50,637.17
Class B Required Amount 0.00
Total Excess Spread 1,094,548.77
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,094,548.77
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,076,948.77
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 3.23%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 38,504,258.35
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 40,511,136.98
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,847,526.12
Total Distribution to Class A Investors per $1,000 Invested 4.86
Total Distribution to Class B Investors 101,543.77
Total Distribution to Class B Investors per $1,000 Invested 5.08
3. Calculation of Certificate Interest
Class A Certificate Rate 5.64609%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,847,526.12
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,847,526.12
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.86
Class B Certificate Rate 5.89609%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 101,543.77
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 101,543.77
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.08
Total Certificate Interest Distributable to
Certificateholders 1,949,069.89
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.87
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 36,579,045.44
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 38,485,580.14
Class A Monthly Principal Reinvested in Receivables 38,485,580.14
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,925,212.92
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,025,556.84
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,025,556.84
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per loan agreement 1,094,548.77
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 57,887.50
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 101,299,788.30
Percent Dollars 5.98%
Number of Accts 36,452
Percent Number of Accts 2.92%
31-60 days past due Dollars 25,292,436.04
Percent Dollars 1.49%
Number of Accts 8,680
Percent Number of Accts 0.69%
61-90 days past due Dollars 16,240,685.29
Percent Dollars 0.96%
Number of Accts 5,421
Percent Number of Accts 0.43%
91-120 days past due Dollars 11,514,202.23
Percent Dollars 0.68%
Number of Accts 3,631
Percent Number of Accts 0.29%
121-150 days past due Dollars 9,021,635.94
Percent Dollars 0.53%
Number of Accts 2,710
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,362,991.95
Percent Dollars 0.43%
Number of Accts 2,113
Percent Number of Accts 0.17%
181 + days past due Dollars 12,444,065.84
Percent Dollars 0.73%
Number of Accts 3,489
Percent Number of Accts 0.28%
9. Base Rate Calculation
Base Rate 7.65%
Portfolio Yield (net of losses) 11.13%
Excess of Portfolio Yield over Base Rate 3.48%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,139
Ending Number of Accounts 1,249,296
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 17
Monthly Period Ended July 31, 1996
Distribution Date August 15, 1996
Determination Date August 9, 1996
Number of Days in Period 31
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,709,546,778.56
Principal Collections on the Receivables 164,562,077.07
Finance Charge Receivables 24,434,398.04
Receivables in Defaulted Accounts 8,577,132.27
End of Month - Aggregate Principal Receivables 1,694,424,654.71
Investor Interest Series 1993-1 66,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 227,757,988.04
Total Investor Percentage with respect to...
Finance Charges 23.6068331%
Charged-Off Accounts 23.6068331%
Principal Receivables 23.6068331%
Class A Percentage with respect to...
Finance Charges 22.4264914%
Charged-Off Accounts 22.4264914%
Principal Receivables 22.4264914%
Class B Percentage with respect to...
Finance Charges 1.1803417%
Charged-Off Accounts 1.1803417%
Principal Receivables 1.1803417%
Seller Percentage with respect to ...
Finance Charges 13.4416120%
Charged-Off Accounts 13.4416120%
Principal Receivables 17.3760842%
Class A Available Finance Charge Collections 5,431,305.75
Class A Monthly Cap Interest Payable to Class A
Certificateholders
(See "Calculation of Certificate Interest" #3) 1,863,887.23
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,906,534.70
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,027,550.49
Class A Required Amount 0.00
Class B Available Finance Charge Collections 285,858.20
Class B Monthly Cap Interest Payable to Class B
Certificateholders
(See "Calculation of Certificate Interest" #3) 100,682.66
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 100,343.93
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 51,498.28
Class B Required Amount 0.00
Total Excess Spread 1,079,048.76
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,079,048.76
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,062,365.43
Remaining Excess Servicing (percentage of Investor Interest) 3.19%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 38,504,258.35
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 40,511,136.98
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,863,887.23
Total Distribution to Class A Investors per $1,000 Invested 4.90
Total Distribution to Class B Investors 100,682.66
Total Distribution to Class B Investors per $1,000 Invested 5.03
3. Calculation of Certificate Interest
Class A Certificate Rate 5.69609%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,863,887.23
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,863,887.23
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.90
Class B Certificate Rate 5.84609%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 100,682.66
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 100,682.66
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.03
Total Certificate Interest Distributable to
Certificateholders 1,964,569.88
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.91
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 36,579,045.44
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 38,485,580.14
Class A Monthly Principal Reinvested in Receivables 38,485,580.14
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,925,212.92
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,025,556.84
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,025,556.84
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,079,048.76
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 38,686.18
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 101,299,788.30
Percent Dollars 5.98%
Number of Accts 36,452
Percent Number of Accts 2.92%
31-60 days past due Dollars 25,292,436.04
Percent Dollars 1.49%
Number of Accts 8,680
Percent Number of Accts 0.69%
61-90 days past due Dollars 16,240,685.29
Percent Dollars 0.96%
Number of Accts 5,421
Percent Number of Accts 0.43%
91-120 days past due Dollars 11,514,202.23
Percent Dollars 0.68%
Number of Accts 3,631
Percent Number of Accts 0.29%
121-150 days past due Dollars 9,021,635.94
Percent Dollars 0.53%
Number of Accts 2,710
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,362,991.95
Percent Dollars 0.43%
Number of Accts 2,113
Percent Number of Accts 0.17%
181 + days past due Dollars 12,444,065.84
Percent Dollars 0.73%
Number of Accts 3,489
Percent Number of Accts 0.28%
9. Base Rate Calculation
Base Rate 7.70%
Portfolio Yield (net of losses) 11.13%
Excess of Portfolio Yield over Base Rate 3.43%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,139
Ending Number of Accounts 1,249,296
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 1
Monthly Period Ended July 31, 1996
Distribution Date August 15, 1996
Determination Date August 9, 1996
Number of Days in Period 31
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 1,709,546,778.56
Principal Collections on the Receivables 164,562,077.07
Finance Charge Receivables 24,434,398.04
Receivables in Defaulted Accounts 8,577,132.27
End of Month - Aggregate Principal Receivables 1,694,424,654.71
Investor Interest Series 1993-1 66,666,666.67
Investor Interest Series 1994-1 200,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 227,757,988.04
Total Investor Percentage with respect to...
Finance Charges 23.6068331%
Charged-Off Accounts 23.6068331%
Principal Receivables 11.8034165%
Class A Percentage with respect to...
Finance Charges 22.3674743%
Charged-Off Accounts 22.3674743%
Principal Receivables 11.1837372%
Class B Percentage with respect to...
Finance Charges 1.2393587%
Charged-Off Accounts 1.2393587%
Principal Receivables 0.6196794%
Seller Percentage with respect to ...
Finance Charges 13.4416120%
Charged-Off Accounts 13.4416120%
Principal Receivables 17.3760842%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,417,012.84
Class A Monthly Cap Interest Payable to Class A
Certificateholders
(See "Calculation of Certificate Interest" #3) 1,842,664.21
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 631,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,901,517.51
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,041,164.46
Class A Required Amount 0.00
Class B Available Finance Charge Collections 300,151.11
Class B Monthly Cap Interest Payable to Class B
Certificateholders
(See "Calculation of Certificate Interest" #3) 104,812.63
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 35,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 105,361.13
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 54,977.35
Class B Required Amount 0.00
Total Excess Spread 1,096,141.81
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B
Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,096,141.81
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,068,425.25
Remaining Excess Servicing (percentage of Investor
Interest) 3.21%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 19,252,129.18
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 21,259,007.81
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,842,664.21
Total Distribution to Class A Investors per $1,000
Invested 4.86
Total Distribution to Class B Investors 104,812.63
Total Distribution to Class B Investors per $1,000
Invested 4.99
3. Calculation of Certificate Interest
Class A Certificate Rate 5.64609%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,842,664.21
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,842,664.21
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.86
Class B Certificate Rate 5.79609%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 104,812.63
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 104,812.63
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.99
Total Certificate Interest Distributable to
Certificateholders 1,947,476.83
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.87
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 18,241,392.39
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 20,142,909.90
Class A Monthly Principal Reinvested in Receivables 20,142,909.90
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 1,010,736.78
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,116,097.91
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,116,097.91
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 631,666.67
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,096,141.81
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 38,975.26
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 101,299,788.30
Percent Dollars 5.98%
Number of Accts 36,452
Percent Number of Accts 2.92%
31-60 days past due Dollars 25,292,436.04
Percent Dollars 1.49%
Number of Accts 8,680
Percent Number of Accts 0.69%
61-90 days past due Dollars 16,240,685.29
Percent Dollars 0.96%
Number of Accts 5,421
Percent Number of Accts 0.43%
91-120 days past due Dollars 11,514,202.23
Percent Dollars 0.68%
Number of Accts 3,631
Percent Number of Accts 0.29%
121-150 days past due Dollar 9,021,635.94
Percent Dollars 0.53%
Number of Accts 2,710
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,362,991.95
Percent Dollars 0.43%
Number of Accts 2,113
Percent Number of Accts 0.17%
181 + days past due Dollars 12,444,065.84
Percent Dollars 0.73%
Number of Accts 3,489
Percent Number of Accts 0.28%
9. Base Rate Calculation
Base Rate 7.65%
Portfolio Yield (net of losses) 11.13%
Excess of Portfolio Yield over Base Rate 3.48%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,139
Ending Number of Accounts 1,249,296
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 39
Monthly Period Ended August 31, 1996
Distribution Date September 16, 1996
Determination Date September 10, 1996
1. Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,694,424,654.71(1)
Principal Collections on the Receivables 158,138,275.40
Finance Charge Receivables 24,596,918.52
Receivables in Defaulted Accounts 8,699,900.18
End of Month - Aggregate Principal Receivables 1,800,822,132.22
Investor Interest Series 1993-1 50,000,000.00
Investor Interest Series 1994-1 183,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 367,488,798.89
Investor Percentage with respect to...
Finance Charges 2.7765096%
Charged-Off Accounts 2.7765096%
Principal Receivables 11.1060385%
Seller Percentage with respect to ...
Finance Charges 20.4067238%
Charged-Off Accounts 20.4067238%
Principal Receivables 22.2577302%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 967,758.92
Available Principal Collections 18,665,719.36
Investor Default Amount 342,295.15
Aggregate Collections Allocated to Certificateholders 19,633,478.28
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 266,666.67
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 2,341,347.84
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 242,477.66
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 111,111.11
Monthly Certificate Insurer Fee 5,208.33
Excess Servicing (Shortfall) (dollars) 242,477.66
Excess Servicing (Shortfall) (percentage of Investor
Interest) 4.36%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 16,933,333.33
Total Distribution to Investors per $1,000 Invested 84.67
3. Calculation of Certificate Interest
Certificate Rate 4.80000%
This Month Certificate Interest 266,666.67
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 266,666.67
Total Certificate Interest Distributable per $1,000 of
Original Investment 1.33
4. Calculation of Monthly Principal
Beginning Investor Interest 66,666,666.67
Available Principal Collections 18,665,719.36
Investor Default Amount 342,295.15
Total Investor Monthly Principal 19,008,014.51
Investor Monthly Principal Reinvested in Receivables 2,341,347.84
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original
Investment 83.33
Ending Investor Interest 50,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.2500000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 66,666,666.67
Monthly Servicing Fee 111,111.11
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 7,500,000.00
Stated Surety Bond Amount 6,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 6,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 2,916,666.67
Required Cash Collateral Account Amount 2,333,333.33
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 12,816.49
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 2,333,333.33
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 103,487,814.32
Percent Dollars 5.75%
Number of Accts 35,699
Percent Number of Accts 2.75%
31-60 days past due Dollars 27,338,459.29
Percent Dollars 1.52%
Number of Accts 9,381
Percent Number of Accts 0.72%
61-90 days past due Dollars 17,014,702.75
Percent Dollars 0.94%
Number of Accts 5,488
Percent Number of Accts 0.42%
91-120 days past due Dollars 13,037,724.76
Percent Dollars 0.72%
Number of Accts 4,036
Percent Number of Accts 0.31%
121-150 days past due Dollars 9,400,753.50
Percent Dollars 0.52%
Number of Accts 2,848
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,443,226.08
Percent Dollars 0.41%
Number of Accts 2,161
Percent Number of Accts 0.17%
181 + days past due Dollars 12,047,731.46
Percent Dollars 0.67%
Number of Accts 3,353
Percent Number of Accts 0.26%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 11.26%(1)
Excess of Portfolio Yield over Base Rate 4.36%(1)
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 50,664
Ending Number of Accounts 1,299,675
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the August Servicer's Report does
not include the receivables arising under the automatic addition of
accounts to the Trust on August 1, 1996. However, Principal
Collections on the Receivables, Finance Charge Receivables and
Receivables in Defaulted Accounts arising under such Automatic
Additional Accounts to the Trust were included in the August
Servicer's Report, in accordance with the standard methodology.
Were the Principal Receivables arising under the August 1st
automatic addition included in the Aggregate Principal Receivables,
the percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 5.82%
Excess of Portfolio Yield over Base Rate:
Series 1993-1: 3.74%
Series 1994-1: 3.44%
Series 1994-2: 3.06%
Series 1995-1: 3.01%
Series 1996-1: 3.06%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 31
Monthly Period Ended August 31, 1996
Distribution Date September 16, 1996
Determination Date September 10, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,694,424,654.71(1)
Principal Collections on the Receivables 158,138,275.40
Finance Charge Receivables 24,596,918.52
Receivables in Defaulted Accounts 8,699,900.18
End of Month - Aggregate Principal Receivables 1,800,822,132.22
Investor Interest Series 1993-1 50,000,000.00
Investor Interest Series 1994-1 183,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 367,488,798.89
Investor Percentage with respect to...
Finance Charges 10.1805353%
Charged-Off Accounts 10.1805353%
Principal Receivables 11.1060385%
Seller Percentage with respect to ...
Finance Charges 20.4067238%
Charged-Off Accounts 20.4067238%
Principal Receivables 22.2577302%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,903,276.75
Available Principal Collections 18,665,719.36
Investor Default Amount 1,026,885.46
Aggregate Collections Allocated to Certificateholders 21,568,996.11
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 850,000.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 3,025,938.15
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 677,432.96
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 333,333.33
Monthly Certificate Insurer Fee 15,625.00
Excess Servicing (Shortfall) (dollars) 677,432.96
Excess Servicing (Shortfall) (percentage of Investor Interest) 4.06%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,516,666.67
Total Distribution to Investors per $1,000 Invested 87.58
3. Calculation of Certificate Interest
Certificate Rate 5.10000%
This Month Certificate Interest 850,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 850,000.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.25
4. Calculation of Monthly Principal
Beginning Investor Interest 200,000,000.00
Available Principal Collections 18,665,719.36
Investor Default Amount 1,026,885.46
Total Investor Monthly Principal 19,692,604.81
Investor Monthly Principal Reinvested in Receivables 3,025,938.15
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 183,333,333.33
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.9166667
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 200,000,000.00
Monthly Servicing Fee 333,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 18,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 18,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 7,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 30,759.58
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 7,000,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 103,487,814.32
Percent Dollars 5.75%
Number of Accts 35,699
Percent Number of Accts 2.75%
31-60 days past due Dollars 27,338,459.29
Percent Dollars 1.52%
Number of Accts 9,381
Percent Number of Accts 0.72%
61-90 days past due Dollars 17,014,702.75
Percent Dollars 0.94%
Number of Accts 5,488
Percent Number of Accts 0.42%
91-120 days past due Dollars 13,037,724.76
Percent Dollars 0.72%
Number of Accts 4,036
Percent Number of Accts 0.31%
121-150 days past due Dollars 9,400,753.50
Percent Dollars 0.52%
Number of Accts 2,848
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,443,226.08
Percent Dollars 0.41%
Number of Accts 2,161
Percent Number of Accts 0.17%
181 + days past due Dollars 12,047,731.46
Percent Dollars 0.67%
Number of Accts 3,353
Percent Number of Accts 0.26%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.26%(1)
Excess of Portfolio Yield over Base Rate 4.06%(1)
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 50,664
Ending Number of Accounts 1,299,675
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the August Servicer's Report does
not include the receivables arising under the automatic addition of
accounts to the Trust on August 1, 1996. However, Principal Collections
on the Receivables, Finance Charge Receivables and Receivables in
Defaulted Accounts arising under such Automatic Additional Accounts to
the Trust were included in the August Servicer's Report, in accordance
with the standard methodology. Were the Principal Receivables arising
under the August 1st automatic addition included in the Aggregate
Principal Receivables, the percentages would be calculated as set
forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 5.82%
Excess of Portfolio Yield over Base Rate:
Series 1993-1: 3.74%
Series 1994-1: 3.44%
Series 1994-2: 3.06%
Series 1995-1: 3.01%
Series 1996-1: 3.06%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 23
Monthly Period Ended August 31, 1996
Distribution Date September 16, 1996
Determination Date September 10, 1996
Number of Days in Period 32
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,694,424,654.71(1)
Principal Collections on the Receivables 158,138,275.40
Finance Charge Receivables 24,596,918.52
Receivables in Defaulted Accounts 8,699,900.18
End of Month - Aggregate Principal Receivables 1,800,822,132.22
Investor Interest Series 1993-1 50,000,000.00
Investor Interest Series 1994-1 183,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 367,488,798.89
Total Investor Percentage with respect to...
Finance Charges 22.2120771%
Charged-Off Accounts 22.2120771%
Principal Receivables 22.2120771%
Class A Percentage with respect to...
Finance Charges 21.1014732%
Charged-Off Accounts 21.1014732%
Principal Receivables 21.1014732%
Class B Percentage with respect to...
Finance Charges 1.1106039%
Charged-Off Accounts 1.1106039%
Principal Receivables 1.1106039%
Seller Percentage with respect to ...
Finance Charges 20.4067238%
Charged-Off Accounts 20.4067238%
Principal Receivables 22.2577302%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,516,225.83
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,882,057.24
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,951,082.37
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,049,752.88
Class A Required Amount 0.00
Class B Available Finance Charge Collections 290,327.68
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 103,500.09
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 102,688.55
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 50,805.72
Class B Required Amount 0.00
Total Excess Spread 1,100,558.60
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,100,558.60
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 0.00
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 0.00%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 37,331,438.72
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 39,385,209.62
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,882,057.24
Total Distribution to Class A Investors per $1,000 Invested 4.95
Total Distribution to Class B Investors 103,500.09
Total Distribution to Class B Investors per $1,000 Invested 5.18
Class A Certificate Rate 5.57188%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,882,057.24
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,882,057.24
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.95
Class B Certificate Rate 5.82188%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 103,500.09
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 103,500.09
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.18
Total Certificate Interest Distributable to
Certificateholders 1,985,557.33
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.96
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 35,464,866.78
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 37,415,949.15
Class A Monthly Principal Reinvested in Receivables 37,415,949.15
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,866,571.94
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,969,260.47
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,969,260.47
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,100,558.60
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 52,312.50
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 103,487,814.32
Percent Dollars 5.75%
Number of Accts 35,699
Percent Number of Accts 2.75%
31-60 days past due Dollars 27,338,459.29
Percent Dollars 1.52%
Number of Accts 9,381
Percent Number of Accts 0.72%
61-90 days past due Dollars 17,014,702.75
Percent Dollars 0.94%
Number of Accts 5,488
Percent Number of Accts 0.42%
91-120 days past due Dollars 13,037,724.76
Percent Dollars 0.72%
Number of Accts 4,036
Percent Number of Accts 0.31%
121-150 days past due Dollars 9,400,753.50
Percent Dollars 0.52%
Number of Accts 2,848
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,443,226.08
Percent Dollars 0.41%
Number of Accts 2,161
Percent Number of Accts 0.17%
181 + days past due Dollars 12,047,731.46
Percent Dollars 0.67%
Number of Accts 3,353
Percent Number of Accts 0.26%
9. Base Rate Calculation
Base Rate 7.58%
Portfolio Yield (net of losses) 11.26%(1)
Excess of Portfolio Yield over Base Rate 3.68%(1)
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 50,664
Ending Number of Accounts 1,299,675
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the August Servicer's Report does
not include the receivables arising under the automatic addition of
accounts to the Trust on August 1, 1996. However, Principal Collections
on the Receivables, Finance Charge Receivables and Receivables in
Defaulted Accounts arising under such Automatic Additional Accounts to
the Trust were included in the August Servicer's Report, in accordance
with the standard methodology. Were the Principal Receivables arising
under the August 1st automatic addition included in the Aggregate
Principal Receivables, the percentages would be calculated as set
forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 5.82%
Excess of Portfolio Yield over Base Rate:
Series 1993-1: 3.74%
Series 1994-1: 3.44%
Series 1994-2: 3.06%
Series 1995-1: 3.01%
Series 1996-1: 3.06%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 18
Monthly Period Ended August 31, 1996
Distribution Date September 16, 1996
Determination Date September 10, 1996
Number of Days in Period 32
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,694,424,654.71(1)
Principal Collections on the Receivables 158,138,275.40
Finance Charge Receivables 24,596,918.52
Receivables in Defaulted Accounts 8,699,900.18
End of Month - Aggregate Principal Receivables 1,800,822,132.22
Investor Interest Series 1993-1 50,000,000.00
Investor Interest Series 1994-1 183,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 367,488,798.89
Total Investor Percentage with respect to...
Finance Charges 22.2120771%
Charged-Off Accounts 22.2120771%
Principal Receivables 22.2120771%
Class A Percentage with respect to...
Finance Charges 21.1014732%
Charged-Off Accounts 21.1014732%
Principal Receivables 21.1014732%
Class B Percentage with respect to...
Finance Charges 1.1106039%
Charged-Off Accounts 1.1106039%
Principal Receivables 1.1106039%
Seller Percentage with respect to ...
Finance Charges 20.4067238%
Charged-Off Accounts 20.4067238%
Principal Receivables 22.2577302%
Class A Available Finance Charge Collections 5,516,225.83
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,898,946.13
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,951,082.37
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,032,863.99
Class A Required Amount 0.00
Class B Available Finance Charge Collections 290,327.68
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 102,611.20
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 102,688.55
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 51,694.60
Class B Required Amount 0.00
Total Excess Spread 1,084,558.59
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,084,558.59
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 0.00
Remaining Excess Servicing (percentage of Investor Interest) 0.00%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 37,331,438.72
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 39,385,209.62
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,898,946.13
Total Distribution to Class A Investors per $1,000 Invested 5.00
Total Distribution to Class B Investors 102,611.20
Total Distribution to Class B Investors per $1,000 Invested 5.13
3. Calculation of Certificate Interest
Class A Certificate Rate 5.62188%
Cass A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,898,946.13
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,898,946.13
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 5.00
Class B Certificate Rate 5.77188%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class B Certificate Interest 102,611.20
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 102,611.20
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.13
Total Certificate Interest Distributable to
Certificateholders 2,001,557.33
Total Certificate Interest Distributable per $1,000 of
Original Investment 5.00
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 35,464,866.78
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 37,415,949.15
Class A Monthly Principal Reinvested in Receivables 37,415,949.15
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,866,571.94
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,969,260.47
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,969,260.47
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,084,558.59
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 35,153.80
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 103,487,814.32
Percent Dollars 5.75%
Number of Accts 35,699
Percent Number of Accts 2.75%
31-60 days past due Dollars 27,338,459.29
Percent Dollars 1.52%
Number of Accts 9,381
Percent Number of Accts 0.72%
61-90 days past due Dollars 17,014,702.75
Percent Dollars 0.94%
Number of Accts 5,488
Percent Number of Accts 0.42%
91-120 days past due Dollars 13,037,724.76
Percent Dollars 0.72%
Number of Accts 4,036
Percent Number of Accts 0.31%
121-150 days past due Dollars 9,400,753.50
Percent Dollars 0.52%
Number of Accts 2,848
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,443,226.08
Percent Dollars 0.41%
Number of Accts 2,161
Percent Number of Accts 0.17%
181 + days past due Dollars 12,047,731.46
Percent Dollars 0.67%
Number of Accts 3,353
Percent Number of Accts 0.26%
9. Base Rate Calculation
Base Rate 7.63%
Portfolio Yield (net of losses) 11.26%(1)
Excess of Portfolio Yield over Base Rate 3.63%(1)
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 50,664
Ending Number of Accounts 1,299,675
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the August Servicer's Report does
not include the receivables arising under the automatic addition of
accounts to the Trust on August 1, 1996. However, Principal
Collections on the Receivables, Finance Charge Receivables and
Receivables in Defaulted Accounts arising under such Automatic
Additional Accounts to the Trust were included in the August
Servicer's Report, in accordance with the standard methodology.
Were the Principal Receivables arising under the August 1st automatic
addition included in the Aggregate Principal Receivables, the
percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 5.82%
Excess of Portfolio Yield over Base Rate:
Series 1993-1: 3.74%
Series 1994-1: 3.44%
Series 1994-2: 3.06%
Series 1995-1: 3.01%
Series 1996-1: 3.06%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 2
Monthly Period Ended August 31, 1996
Distribution Date September 16, 1996
Determination Date September 10, 1996
Number of Days in Period 32
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 1,694,424,654.71(1)
Principal Collections on the Receivables 158,138,275.40
Finance Charge Receivables 24,596,918.52
Receivables in Defaulted Accounts 8,699,900.18
End of Month - Aggregate Principal Receivables 1,800,822,132.22
Investor Interest Series 1993-1 50,000,000.00
Investor Interest Series 1994-1 183,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 367,488,798.89
Total Investor Percentage with respect to...
Finance Charges 22.2120771%
Charged-Off Accounts 22.2120771%
Principal Receivables 11.1060385%
Class A Percentage with respect to...
Finance Charges 21.0459430%
Charged-Off Accounts 21.0459430%
Principal Receivables 10.5229715%
Class B Percentage with respect to...
Finance Charges 1.1661340%
Charged-Off Accounts 1.1661340%
Principal Receivables 0.5830670%
Seller Percentage with respect to ...
Finance Charges 20.4067238%
Charged-Off Accounts 20.4067238%
Principal Receivables 22.2577302%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,501,709.44
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,877,104.46
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 631,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,945,947.94
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,046,990.37
Class A Required Amount 0.00
Class B Available Finance Charge Collections 304,844.06
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 106,808.43
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 35,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 107,822.97
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 55,212.66
Class B Required Amount 0.00
Total Excess Spread 1,102,203.03
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,102,203.03
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 0.00
Remaining Excess Servicing (percentage of Investor Interest) 0.00%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 18,665,719.36
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 20,719,490.27
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,877,104.46
Total Distribution to Class A Investors per $1,000 Invested 4.95
Total Distribution to Class B Investors 106,808.43
Total Distribution to Class B Investors per $1,000 Invested 5.09
3. Calculation of Certificate Interest
Class A Certificate Rate 5.57188%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,877,104.46
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,877,104.46
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.95
Class B Certificate Rate 5.72188%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 106,808.43
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 106,808.43
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.09
Total Certificate Interest Distributable to
Certificateholders 1,983,912.89
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.96
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 17,685,769.09
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 19,631,717.03
Class A Monthly Principal Reinvested in Receivables 19,631,717.03
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 979,950.27
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,087,773.24
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,087,773.24
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 631,666.67
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,102,203.03
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 40,097.34
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 103,487,814.32
Percent Dollars 5.75%
Number of Accts 35,699
Percent Number of Accts 2.75%
31-60 days past due Dollars 27,338,459.29
Percent Dollars 1.52%
Number of Accts 9,381
Percent Number of Accts 0.72%
61-90 days past due Dollars 17,014,702.75
Percent Dollars 0.94%
Number of Accts 5,488
Percent Number of Accts 0.42%
91-120 days past due Dollars 13,037,724.76
Percent Dollars 0.72%
Number of Accts 4,036
Percent Number of Accts 0.31%
121-150 days past due Dollars 9,400,753.50
Percent Dollars 0.52%
Number of Accts 2,848
Percent Number of Accts 0.22%
151-180 days past due Dollars 7,443,226.08
Percent Dollars 0.41%
Number of Accts 2,161
Percent Number of Accts 0.17%
181 + days past due Dollars 12,047,731.46
Percent Dollars 0.67%
Number of Accts 3,353
Percent Number of Accts 0.26%
9. Base Rate Calculation
Base Rate 7.58%
Portfolio Yield (net of losses) 11.26%(1)
Excess of Portfolio Yield over Base Rate 3.68%(1)
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 50,664
Ending Number of Accounts 1,299,675
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the August Servicer's Report does
not include the receivables arising under the automatic addition of
accounts to the Trust on August 1, 1996. However, Principal
Collections on the Receivables, Finance Charge Receivables and
Receivables in Defaulted Accounts arising under such Automatic Additional
Accounts to the Trust were included in the August Servicer's Report,
in accordance with the standard methodology. Were the Principal
Receivables arising under the August 1st automatic addition included
in the Aggregate Principal Receivables, the percentages would be
calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 5.82%
Excess of Portfolio Yield over Base Rate:
Series 1993-1: 3.74%
Series 1994-1: 3.44%
Series 1994-2: 3.06%
Series 1995-1: 3.01%
Series 1996-1: 3.06%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 40
Monthly Period Ended September 30, 1996
Distribution Date October 15, 1996
Determination Date October 10, 1996
1. Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,800,822,132.22
Principal Collections on the Receivables 159,674,440.57
Finance Charge Receivables 25,036,356.06
Receivables in Defaulted Accounts 8,931,594.63
End of Month - Aggregate Principal Receivables 1,770,537,407.75
Investor Interest Series 1993-1 33,333,333.33
Investor Interest Series 1994-1 166,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 370,537,407.75
Investor Percentage with respect to...
Finance Charges 1.8826676%
Charged-Off Accounts 1.8826676%
Principal Receivables 11.2960053%
Seller Percentage with respect to ...
Finance Charges 20.9279627%
Charged-Off Accounts 20.9279627%
Principal Receivables 20.9279627%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 695,136.84
Available Principal Collections 17,733,504.91
Investor Default Amount 247,986.59
Aggregate Collections Allocated to Certificateholders 18,428,641.74
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3)" 200,000.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 1,314,824.82
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 159,910.67
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 83,333.33
Monthly Certificate Insurer Fee 3,906.25
Excess Servicing (Shortfall) (dollars) 159,910.67
Excess Servicing (Shortfall) (percentage of Investor Interest) 3.84%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 16,866,666.67
Total Distribution to Investors per $1,000 Invested 84.33
3. Calculation of Certificate Interest
Certificate Rate 4.80000%
This Month Certificate Interest 200,000.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 200,000.00
Total Certificate Interest Distributable per $1,000 of Original
Investment 1.00
4. Calculation of Monthly Principal
Beginning Investor Interest 50,000,000.00
Available Principal Collections 17,733,504.91
Investor Default Amount 247,986.59
Total Investor Monthly Principal 17,981,491.49
Investor Monthly Principal Reinvested in Receivables 1,314,824.82
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 33,333,333.33
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount to
7 decimal places) 0.1666667
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 50,000,000.00
Monthly Servicing Fee 83,333.33
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 6,000,000.00
Stated Surety Bond Amount 4,250,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 4,250,000.00
Available Surety Bond Amount (Percentage) 8.50%
8. Cash Collateral Account Activity
Beginning of Month Balance 2,333,333.33
Required Cash Collateral Account Amount 2,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 9,566.84
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 2,000,000.00
Available Cash Collateral Amount (Percentage) 4.00%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 102,544,369.34
Percent Dollars 5.79%
Number of Accts 35,833
Percent Number of Accts 2.76%
31-60 days past due Dollars 27,380,752.18
Percent Dollars 1.55%
Number of Accts 9,163
Percent Number of Accts 0.70%
61-90 days past due Dollars 18,189,938.51
Percent Dollars 1.03%
Number of Accts 5,818
Percent Number of Accts 0.45%
91-120 days past due Dollars 13,257,869.63
Percent Dollars 0.75%
Number of Accts 4,131
Percent Number of Accts 0.32%
121-150 days past due Dollars 10,625,770.72
Percent Dollars 0.60%
Number of Accts 3,148
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,586,640.46
Percent Dollars 0.43%
Number of Accts 2,216
Percent Number of Accts 0.17%
181 + days past due Dollars 11,928,694.46
Percent Dollars 0.67%
Number of Accts 3,343
Percent Number of Accts 0.26%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 10.73%
Excess of Portfolio Yield over Base Rate 3.83%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 650
Ending Number of Accounts 1,300,579
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 32
Monthly Period Ended September 30, 1996
Distribution Date October 15, 1996
Determination Date October 10, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,800,822,132.22
Principal Collections on the Receivables 159,674,440.57
Finance Charge Receivables 25,036,356.06
Receivables in Defaulted Accounts 8,931,594.63
End of Month - Aggregate Principal Receivables 1,770,537,407.75
Investor Interest Series 1993-1 33,333,333.33
Investor Interest Series 1994-1 166,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 370,537,407.75
Investor Percentage with respect to...
Finance Charges 9.4133378%
Charged-Off Accounts 9.4133378%
Principal Receivables 11.2960053%
Seller Percentage with respect to ...
Finance Charges 20.9279627%
Charged-Off Accounts 20.9279627%
Principal Receivables 20.9279627%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,548,835.07
Available Principal Collections 17,733,504.91
Investor Default Amount 909,284.15
Aggregate Collections Allocated to Certificateholders 20,282,339.98
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 779,166.67
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 1,976,122.38
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 540,505.79
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 305,555.56
Monthly Certificate Insurer Fee 14,322.92
Excess Servicing (Shortfall) (dollars) 540,505.79
Excess Servicing (Shortfall) (percentage of Investor Interest) 3.54%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,445,833.33
Total Distribution to Investors per $1,000 Invested 87.23
3. Calculation of Certificate Interest
Certificate Rate 5.10000%
This Month Certificate Interest 779,166.67
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 779,166.67
Total Certificate Interest Distributable per $1,000 of Original
Investment 3.90
4. Calculation of Monthly Principal
Beginning Investor Interest 183,333,333.33
Available Principal Collections 17,733,504.91
Investor Default Amount 909,284.15
Total Investor Monthly Principal 18,642,789.05
Investor Monthly Principal Reinvested in Receivables 1,976,122.38
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 166,666,666.67
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 0.8333333
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 183,333,333.33
Monthly Servicing Fee 305,555.56
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 18,000,000.00
Stated Surety Bond Amount 16,500,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 16,500,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 7,000,000.00
Required Cash Collateral Account Amount 6,416,666.67
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 28,700.53
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 6,416,666.67
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 102,544,369.34
Percent Dollars 5.79%
Number of Accts 35,833
Percent Number of Accts 2.76%
31-60 days past due Dollars 27,380,752.18
Percent Dollars 1.55%
Number of Accts 9,163
Percent Number of Accts 0.70%
61-90 days past due Dollars 18,189,938.51
Percent Dollars 1.03%
Number of Accts 5,818
Percent Number of Accts 0.45%
91-120 days past due Dollars 13,257,869.63
Percent Dollars 0.75%
Number of Accts 4,131
Percent Number of Accts 0.32%
121-150 days past due Dollars 10,625,770.72
Percent Dollars 0.60%
Number of Accts 3,148
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,586,640.46
Percent Dollars 0.43%
Number of Accts 2,216
Percent Number of Accts 0.17%
181 + days past due Dollars 11,928,694.46
Percent Dollars 0.67%
Number of Accts 3,343
Percent Number of Accts 0.26%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 10.73%
Excess of Portfolio Yield over Base Rate 3.53%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 650
Ending Number of Accounts 1,300,579
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 24
Monthly Period Ended September 30, 1996
Distribution Date October 15, 1996
Determination Date October 10, 1996
Number of Days in Period 29
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,800,822,132.22
Principal Collections on the Receivables 159,674,440.57
Finance Charge Receivables 25,036,356.06
Receivables in Defaulted Accounts 8,931,594.63
End of Month - Aggregate Principal Receivables 1,770,537,407.75
Investor Interest Series 1993-1 33,333,333.33
Investor Interest Series 1994-1 166,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 370,537,407.75
Total Investor Percentage with respect to...
Finance Charges 22.5920107%
Charged-Off Accounts 22.5920107%
Principal Receivables 22.5920107%
Class A Percentage with respect to...
Finance Charges 21.4624101%
Charged-Off Accounts 21.4624101%
Principal Receivables 21.4624101%
Class B Percentage with respect to...
Finance Charges 1.1296005%
Charged-Off Accounts 1.1296005%
Principal Receivables 1.1296005%
Seller Percentage with respect to ...
Finance Charges 20.9279627%
Charged-Off Accounts 20.9279627%
Principal Receivables 20.9279627%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,283,039.97
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,730,724.67
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,884,698.05
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,034,283.92
Class A Required Amount 0.00
Class B Available Finance Charge Collections 278,054.74
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 95,118.55
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 99,194.63
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 50,408.22
Class B Required Amount 0.00
Total Excess Spread 1,084,692.14
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,084,692.14
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 0.00
Remaining Excess Servicing (Shortfall) (percentage of Investor
Interest) 0.00%
Class A Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 35,467,009.81
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 37,450,902.48
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,730,724.67
Total Distribution to Class A Investors per $1,000 Invested 4.55
Total Distribution to Class B Investors 95,118.55
Total Distribution to Class B Investors per $1,000 Invested 4.76
3. Calculation of Certificate Interest
Class A Certificate Rate 5.65391%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,730,724.67
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,730,724.67
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.55
Class B Certificate Rate 5.90391%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 95,118.55
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 95,118.55
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.76
Total Certificate Interest Distributable to
Certificateholders 1,825,843.22
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.56
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 33,693,659.32
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 35,578,357.37
Class A Monthly Principal Reinvested in Receivables 35,578,357.37
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,773,350.49
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,872,545.11
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,872,545.11
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,084,692.14
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 54,408.54
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 102,544,369.34
Percent Dollars 5.79%
Number of Accts 35,833
Percent Number of Accts 2.76%
31-60 days past due Dollars 27,380,752.18
Percent Dollars 1.55%
Number of Accts 9,163
Percent Number of Accts 0.70%
61-90 days past due Dollars 18,189,938.51
Percent Dollars 1.03%
Number of Accts 5,818
Percent Number of Accts 0.45%
91-120 days past due Dollars 13,257,869.63
Percent Dollars 0.75%
Number of Accts 4,131
Percent Number of Accts 0.32%
121-150 days past due Dollars 10,625,770.72
Percent Dollars 0.60%
Number of Accts 3,148
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,586,640.46
Percent Dollars 0.43%
Number of Accts 2,216
Percent Number of Accts 0.17%
181 + days past due Dollars 11,928,694.46
Percent Dollars 0.67%
Number of Accts 3,343
Percent Number of Accts 0.26%
9. Base Rate Calculation
Base Rate 7.66%
Portfolio Yield (net of losses) 10.73%
Excess of Portfolio Yield over Base Rate 3.07%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 650
Ending Number of Accounts 1,300,579
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 19
Monthly Period Ended September 30, 1996
Distribution Date October 15, 1996
Determination Date October 10, 1996
Number of Days in Period 29
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,800,822,132.22
Principal Collections on the Receivables 159,674,440.57
Finance Charge Receivables 25,036,356.06
Receivables in Defaulted Accounts 8,931,594.63
End of Month - Aggregate Principal Receivables 1,770,537,407.75
Investor Interest Series 1993-1 33,333,333.33
Investor Interest Series 1994-1 166,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 370,537,407.75
Total Investor Percentage with respect to...
Finance Charges 22.5920107%
Charged-Off Accounts 22.5920107%
Principal Receivables 22.5920107%
Class A Percentage with respect to...
Finance Charges 21.4624101%
Charged-Off Accounts 21.4624101%
Principal Receivables 21.4624101%
Class B Percentage with respect to...
Finance Charges 1.1296005%
Charged-Off Accounts 1.1296005%
Principal Receivables 1.1296005%
Seller Percentage with respect to ...
Finance Charges 20.9279627%
Charged-Off Accounts 20.9279627%
Principal Receivables 20.9279627%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,283,039.97
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,746,030.23
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,884,698.05
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,018,978.36
Class A Required Amount 0.00
Class B Available Finance Charge Collections 278,054.74
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 94,312.99
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 99,194.63
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 51,213.78
Class B Required Amount 0.00
Total Excess Spread 1,070,192.14
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,070,192.14
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 0.00
Remaining Excess Servicing (percentage of Investor Interest) 0.00%
Class A Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 35,467,009.81
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 37,450,902.48
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,746,030.23
Total Distribution to Class A Investors per $1,000 Invested 4.59
Total Distribution to Class B Investors 94,312.99
Total Distribution to Class B Investors per $1,000 Invested 4.72
3. Calculation of Certificate Interest
Class A Certificate Rate 5.70391%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,746,030.23
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,746,030.23
Total Class A Interest Distributable per $1,000 of Class A
Original Investment" 4.59
Class B Certificate Rate 5.85391%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class B Certificate Interest 94,312.99
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 94,312.99
Total Class B Interest Distributable per $1,000 of Class B
Original Investment" 4.72
Total Certificate Interest Distributable to
Certificateholders 1,840,343.22
Total Certificate Interest Distributable per $1,000 of
Original Investment" 4.60
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 33,693,659.32
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 35,578,357.37
Class A Monthly Principal Reinvested in Receivables 35,578,357.37
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,773,350.49
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,872,545.11
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,872,545.11
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount to
7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,070,192.14
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 37,329.32
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 102,544,369.34
Percent Dollars 5.79%
Number of Accts 35,833
Percent Number of Accts 2.76%
31-60 days past due Dollars 27,380,752.18
Percent Dollars 1.55%
Number of Accts 9,163
Percent Number of Accts 0.70%
61-90 days past due Dollars 18,189,938.51
Percent Dollars 1.03%
Number of Accts 5,818
Percent Number of Accts 0.45%
91-120 days past due Dollars 13,257,869.63
Percent Dollars 0.75%
Number of Accts 4,131
Percent Number of Accts 0.32%
121-150 days past due Dollars 10,625,770.72
Percent Dollars 0.60%
Number of Accts 3,148
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,586,640.46
Percent Dollars 0.43%
Number of Accts 2,216
Percent Number of Accts 0.17%
181 + days past due Dollars 11,928,694.46
Percent Dollars 0.67%
Number of Accts 3,343
Percent Number of Accts 0.26%
9. Base Rate Calculation
Base Rate 7.71%
Portfolio Yield (net of losses) 10.73%
Excess of Portfolio Yield over Base Rate 3.02%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 650
Ending Number of Accounts 1,300,579
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 3
Monthly Period Ended September 30, 1996
Distribution Date October 15, 1996
Determination Date October 10, 1996
Number of Days in Period 29
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 1,800,822,132.22
Principal Collections on the Receivables 159,674,440.57
Finance Charge Receivables 25,036,356.06
Receivables in Defaulted Accounts 8,931,594.63
End of Month - Aggregate Principal Receivables 1,770,537,407.75
Investor Interest Series 1993-1 33,333,333.33
Investor Interest Series 1994-1 166,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 370,537,407.75
Total Investor Percentage with respect to...
Finance Charges 22.5920107%
Charged-Off Accounts 22.5920107%
Principal Receivables 11.2960053%
Class A Percentage with respect to...
Finance Charges 21.4059301%
Charged-Off Accounts 21.4059301%
Principal Receivables 10.7029651%
Class B Percentage with respect to...
Finance Charges 1.1860806%
Charged-Off Accounts 1.1860806%
Principal Receivables 0.5930403%
Seller Percentage with respect to ...
Finance Charges 20.9279627%
Charged-Off Accounts 20.9279627%
Principal Receivables 20.9279627%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,269,137.23
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,726,170.13
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 631,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,879,738.32
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,031,562.12
Class A Required Amount 0.00
Class B Available Finance Charge Collections 291,957.47
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 98,182.81
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 35,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 104,154.37
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 54,620.30
Class B Required Amount 0.00
Total Excess Spread 1,086,182.41
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,086,182.41
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 0.00
Remaining Excess Servicing (percentage of Investor Interest) 0.00%
Class A Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investmen 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 17,733,504.91
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 19,717,397.59
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,726,170.13
Total Distribution to Class A Investors per $1,000 Invested 4.55
Total Distribution to Class B Investors 98,182.81
Total Distribution to Class B Investors per $1,000 Invested 4.68
3. Calculation of Certificate Interest
Class A Certificate Rate 5.65391%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,726,170.13
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,726,170.13
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.55
Class B Certificate Rate 5.80391%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class B Certificate Interest 98,182.81
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 98,182.81
Total Class B Interest Distributable per $1,000 of Class B
Original Investment" 4.68
Total Certificate Interest Distributable to
Certificateholders 1,824,352.94
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.56
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 16,802,495.90
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 18,682,234.21
Class A Monthly Principal Reinvested in Receivables 18,682,234.21
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 931,009.01
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,035,163.37
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,035,163.37
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 631,666.67
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,086,182.41
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 42,762.80
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 102,544,369.34
Percent Dollars 5.79%
Number of Accts 35,833
Percent Number of Accts 2.76%
31-60 days past due Dollars 27,380,752.18
Percent Dollars 1.55%
Number of Accts 9,163
Percent Number of Accts 0.70%
61-90 days past due Dollars 18,189,938.51
Percent Dollars 1.03%
Number of Accts 5,818
Percent Number of Accts 0.45%
91-120 days past due Dollars 13,257,869.63
Percent Dollars 0.75%
Number of Accts 4,131
Percent Number of Accts 0.32%
121-150 days past due Dollars 10,625,770.72
Percent Dollars 0.60%
Number of Accts 3,148
Percent Number of Accts 0.24%
151-180 days past due Dollars 7,586,640.46
Percent Dollars 0.43%
Number of Accts 2,216
Percent Number of Accts 0.17%
181 + days past due Dollars 11,928,694.46
Percent Dollars 0.67%
Number of Accts 3,343
Percent Number of Accts 0.26%
9. Base Rate Calculation
Base Rate 7.66%
Portfolio Yield (net of losses) 10.73%
Excess of Portfolio Yield over Base Rate 3.07%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 650
Ending Number of Accounts 1,300,579
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 41
Monthly Period Ended October 31, 1996
Distribution Date November 15, 1996
Determination Date November 8, 1996
1. Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 1,770,537,407.75(1)
Principal Collections on the Receivables 230,227,056.43
Finance Charge Receivables 29,144,248.95
Receivables in Defaulted Accounts 8,868,010.25
End of Month - Aggregate Principal Receivables 2,236,407,946.23
Investor Interest Series 1993-1 16,666,666.67
Investor Interest Series 1994-1 150,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 869,741,279.56
Investor Percentage with respect to...
Finance Charges 0.7452427%
Charged-Off Accounts 0.7452427%
Principal Receivables 8.9429122%
Seller Percentage with respect to ...
Finance Charges 38.8900997%
Charged-Off Accounts 38.8900997%
Principal Receivables 37.3996143%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 548,689.32
Available Principal Collections 26,006,460.57
Investor Default Amount 166,955.15
Aggregate Collections Allocated to Certificateholders 26,555,149.89
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 133,333.33
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 9,506,749.05
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 190,241.11
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 55,555.56
Monthly Certificate Insurer Fee 2,604.17
Excess Servicing (Shortfall) (dollars) 190,241.11
Excess Servicing (Shortfall) (percentage of Investor Interest) 6.85%(1)
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 16,800,000.00
Total Distribution to Investors per $1,000 Invested 84.00
3. Calculation of Certificate Interest
Certificate Rate 4.80000%
This Month Certificate Interest 133,333.33
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 133,333.33
Total Certificate Interest Distributable per $1,000 of
Original Investment 0.67
4. Calculation of Monthly Principal
Beginning Investor Interest 33,333,333.33
Available Principal Collections 26,006,460.57
Investor Default Amount 166,955.15
Total Investor Monthly Principal 26,173,415.72
Investor Monthly Principal Reinvested in Receivables 9,506,749.05
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 16,666,666.67
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 0.0833333
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 33,333,333.33
Monthly Servicing Fee 55,555.56
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 4,250,000.00
Stated Surety Bond Amount 4,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 4,000,000.00
Available Surety Bond Amount (Percentage) 12.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 2,000,000.00
Required Cash Collateral Account Amount 2,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 9,822.22
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 2,000,000.00
Available Cash Collateral Amount (Percentage) 6.00%
Total Credit Enhancement Percentage 18.00%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,506,975.36
Percent Dollars 5.12%
Number of Accts 39,153
Percent Number of Accts 2.49%
31-60 days past due Dollars 27,579,117.99
Percent Dollars 1.23%
Number of Accts 9,252
Percent Number of Accts 0.59%
61-90 days past due Dollars 18,507,993.12
Percent Dollars 0.83%
Number of Accts 5,788
Percent Number of Accts 0.37%
91-120 days past due Dollars 14,480,643.46
Percent Dollars 0.65%
Number of Accts 4,490
Percent Number of Accts 0.29%
121-150 days past due Dollars 10,878,496.69
Percent Dollars 0.49%
Number of Accts 3,236
Percent Number of Accts 0.21%
151-180 days past due Dollars 8,656,938.62
Percent Dollars 0.39%
Number of Accts 2,493
Percent Number of Accts 0.16%
181 + days past due Dollars 11,964,555.16
Percent Dollars 0.53%
Number of Accts 3,383
Percent Number of Accts 0.22%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 13.74%(1)
Excess of Portfolio Yield over Base Rate 6.84%
11. Number of Accounts in the Trust
Number of Additional Accounts 269,585
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,809
Ending Number of Accounts 1,573,263
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the October Servicer's Report does not
include the receivables arising under the addition of accounts to the
Trust on October 1, 1996. However, Principal Collections on the
Receivables, Finance Charge Receivables and Receivables in Defaulted
Accounts arising under such Additional Accounts to the Trust were
included in the October Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under the
October 1st addition included in the Aggregate Principal Receivables,
the percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 4.63%
Excess Spread:
Series 1993-1: 3.75%
Series 1994-1: 3.45%
Series 1994-2: 2.86%
Series 1995-1: 2.81%
Series 1996-1: 2.84%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 33
Monthly Period Ended October 31, 1996
Distribution Date November 15, 1996
Determination Date November 8, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 1,770,537,407.75(1)
Principal Collections on the Receivables 230,227,056.43
Finance Charge Receivables 29,144,248.95
Receivables in Defaulted Accounts 8,868,010.25
End of Month - Aggregate Principal Receivables 2,236,407,946.23
Investor Interest Series 1993-1 16,666,666.67
Investor Interest Series 1994-1 150,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 869,741,279.56
Investor Percentage with respect to...
Finance Charges 6.7071842%
Charged-Off Accounts 6.7071842%
Principal Receivables 8.9429122%
Seller Percentage with respect to ...
Finance Charges 38.8900997%
Charged-Off Accounts 38.8900997%
Principal Receivables 37.3996143%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 2,743,446.60
Available Principal Collections 26,006,460.57
Investor Default Amount 834,775.76
Aggregate Collections Allocated to Certificateholders 28,749,907.17
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 708,333.33
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 10,174,569.66
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 909,538.89
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 277,777.78
Monthly Certificate Insurer Fee 13,020.83
Excess Servicing (Shortfall) (dollars) 909,538.89
Excess Servicing (Shortfall) (percentage of Investor Interest) 6.55%(1)
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,375,000.00
Total Distribution to Investors per $1,000 Invested 86.88
3. Calculation of Certificate Interest
Certificate Rate 5.10000%
This Month Certificate Interest 708,333.33
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 708,333.33
Total Certificate Interest Distributable per $1,000 of
Original Investment 3.54
4. Calculation of Monthly Principal
Beginning Investor Interest 166,666,666.67
Available Principal Collections 26,006,460.57
Investor Default Amount 834,775.76
Total Investor Monthly Principal 26,841,236.33
Investor Monthly Principal Reinvested in Receivables 10,174,569.66
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 150,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 0.7500000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 166,666,666.67
Monthly Servicing Fee 277,777.78
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 16,500,000.00
Stated Surety Bond Amount 15,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 15,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 6,416,666.67
Required Cash Collateral Account Amount 5,833,333.33
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 31,512.96
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 5,833,333.33
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,506,975.36
Percent Dollars 5.12%
Number of Accts 39,153
Percent Number of Accts 2.49%
31-60 days past due Dollars 27,579,117.99
Percent Dollars 1.23%
Number of Accts 9,252
Percent Number of Accts 0.59%
61-90 days past due Dollars 18,507,993.12
Percent Dollars 0.83%
Number of Accts 5,788
Percent Number of Accts 0.37%
91-120 days past due Dollars 14,480,643.46
Percent Dollars 0.65%
Number of Accts 4,490
Percent Number of Accts 0.29%
121-150 days past due Dollars 10,878,496.69
Percent Dollars 0.49%
Number of Accts 3,236
Percent Number of Accts 0.21%
151-180 days past due Dollars 8,656,938.62
Percent Dollars 0.39%
Number of Accts 2,493
Percent Number of Accts 0.16%
181 + days past due Dollars 11,964,555.16
Percent Dollars 0.53%
Number of Accts 3,383
Percent Number of Accts 0.22%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 13.74%(1)
Excess of Portfolio Yield over Base Rate 6.54%
11. Number of Accounts in the Trust
Number of Additional Accounts 269,585
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,809
Ending Number of Accounts 1,573,263
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the October Servicer's Report does
not include the receivables arising under the addition of accounts to
the Trust on October 1, 1996. However, Principal Collections on the
Receivables, Finance Charge Receivables and Receivables in Defaulted
Accounts arising under such Additional Accounts to the Trust were
included in the October Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under the
October 1st addition included in the Aggregate Principal Receivables,
the percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 4.63%
Excess Spread:
Series 1993-1: 3.75%
Series 1994-1: 3.45%
Series 1994-2: 2.86%
Series 1995-1: 2.81%
Series 1996-1: 2.84%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 25
Monthly Period Ended October 31, 1996
Distribution Date November 15, 1996
Determination Date November 8, 1996
Number of Days in Period 31
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 1,770,537,407.75(1)
Principal Collections on the Receivables 230,227,056.43
Finance Charge Receivables 29,144,248.95
Receivables in Defaulted Accounts 8,868,010.25
End of Month - Aggregate Principal Receivables 2,236,407,946.23
Investor Interest Series 1993-1 16,666,666.67
Investor Interest Series 1994-1 150,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 869,741,279.56
Total Investor Percentage with respect to...
Finance Charges 17.8858245%
Charged-Off Accounts 17.8858245%
Principal Receivables 17.8858245%
Class A Percentage with respect to...
Finance Charges 16.9915333%
Charged-Off Accounts 16.9915333%
Principal Receivables 16.9915333%
Class B Percentage with respect to...
Finance Charges 0.8942912%
Charged-Off Accounts 0.8942912%
Principal Receivables 0.8942912%
Seller Percentage with respect to ...
Finance Charges 38.8900997%
Charged-Off Accounts 38.8900997%
Principal Receivables 37.3996143%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,255,058.24
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,811,737.82
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,903,288.73
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,906,698.35
Class A Required Amount 0.00
Class B Available Finance Charge Collections 329,213.59
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 99,660.18
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 100,173.09
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 96,046.99
Class B Required Amount 0.00
Total Excess Spread 2,002,745.35
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class
B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 2,002,745.35
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,985,466.32
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 5.96%(1)
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original
Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 52,012,921.14
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 54,016,382.95
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,811,737.82
Total Distribution to Class A Investors per $1,000 Invested 4.77
Total Distribution to Class B Investors 99,660.18
Total Distribution to Class B Investors per $1,000 Invested 4.98
3. Calculation of Certificate Interest
Class A Certificate Rate 5.53672%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,811,737.82
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,811,737.82
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.77
Class B Certificate Rate 5.78672%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 99,660.18
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 99,660.18
Total Class B Interest Distributable per $1,000 of Class B
Original Investment" 4.98
Total Certificate Interest Distributable to
Certificateholders 1,911,398.00
Total Certificate Interest Distributable per $1,000 of
Original Investment" 4.78
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 49,412,275.09
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 51,315,563.82
Class A Monthly Principal Reinvested in Receivables 51,315,563.82
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 2,600,646.06
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,700,819.14
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,700,819.14
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan
Agreement 2,002,745.35
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 70,712.74
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,506,975.36
Percent Dollars 5.12%
Number of Accts 39,153
Percent Number of Accts 2.49%
31-60 days past due Dollars 27,579,117.99
Percent Dollars 1.23%
Number of Accts 9,252
Percent Number of Accts 0.59%
61-90 days past due Dollars 18,507,993.12
Percent Dollars 0.83%
Number of Accts 5,788
Percent Number of Accts 0.37%
91-120 days past due Dollars 14,480,643.46
Percent Dollars 0.65%
Number of Accts 4,490
Percent Number of Accts 0.29%
121-150 days past due Dollars 10,878,496.69
Percent Dollars 0.49%
Number of Accts 3,236
Percent Number of Accts 0.21%
151-180 days past due Dollars 8,656,938.62
Percent Dollars 0.39%
Number of Accts 2,493
Percent Number of Accts 0.16%
181 + days past due Dollars 11,964,555.16
Percent Dollars 0.53%
Number of Accts 3,383
Percent Number of Accts 0.22%
9. Base Rate Calculation
Base Rate 7.54%
Portfolio Yield (net of losses) 13.74%(1)
Excess of Portfolio Yield over Base Rate 6.20%
10. Number of Accounts in the Trust
Number of Additional Accounts 269,585
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,809
Ending Number of Accounts 1,573,263
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the October Servicer's Report does
not include the receivables arising under the addition of accounts to
the Trust on October 1, 1996. However, Principal Collections on the
Receivables, Finance Charge Receivables and Receivables in Defaulted
Accounts arising under such Additional Accounts to the Trust were
included in the October Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under
the October 1st addition included in the Aggregate Principal
Receivables, the percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 4.63%
Excess Spread:
Series 1993-1: 3.75%
Series 1994-1: 3.45%
Series 1994-2: 2.86%
Series 1995-1: 2.81%
Series 1996-1: 2.84%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 20
Monthly Period Ended October 31, 1996
Distribution Date November 15, 1996
Determination Date November 8, 1996
Number of Days in Period 31
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 1,770,537,407.75(1)
Principal Collections on the Receivables 230,227,056.43
Finance Charge Receivables 29,144,248.95
Receivables in Defaulted Accounts 8,868,010.25
End of Month - Aggregate Principal Receivables 2,236,407,946.23
Investor Interest Series 1993-1 16,666,666.67
Investor Interest Series 1994-1 150,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 869,741,279.56
Total Investor Percentage with respect to...
Finance Charges 17.8858245%
Charged-Off Accounts 17.8858245%
Principal Receivables 17.8858245%
Class A Percentage with respect to...
Finance Charges 16.9915333%
Charged-Off Accounts 16.9915333%
Principal Receivables 16.9915333%
Class B Percentage with respect to...
Finance Charges 0.8942912%
Charged-Off Accounts 0.8942912%
Principal Receivables 0.8942912%
Seller Percentage with respect to ...
Finance Charges 38.8900997%
Charged-Off Accounts 38.8900997%
Principal Receivables 37.3996143%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,255,058.24
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,828,098.93
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,903,288.73
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,890,337.24
Class A Required Amount 0.00
Class B Available Finance Charge Collections 329,213.59
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 98,799.07
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 100,173.09
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 96,908.11
Class B Required Amount 0.00
Total Excess Spread 1,987,245.35
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class
B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,987,245.35
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,970,627.37
Remaining Excess Servicing (percentage of Investor Interest) 5.91%(1)
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 52,012,921.14
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 54,016,382.95
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,828,098.93
Total Distribution to Class A Investors per $1,000 Invested 4.81
Total Distribution to Class B Investors 98,799.07
Total Distribution to Class B Investors per $1,000 Invested 4.94
3. Calculation of Certificate Interest
Class A Certificate Rate 5.58672%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,828,098.93
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,828,098.93
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.81
Class B Certificate Rate 5.73672%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 98,799.07
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 98,799.07
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.94
Total Certificate Interest Distributable to
Certificateholders 1,926,898.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.82
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 49,412,275.09
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 51,315,563.82
Class A Monthly Principal Reinvested in Receivables 51,315,563.82
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 2,600,646.06
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,700,819.14
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,700,819.14
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan
Agreement 1,987,245.35
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 50,084.24
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,506,975.36
Percent Dollars 5.12%
Number of Accts 39,153
Percent Number of Accts 2.49%
31-60 days past due Dollars 27,579,117.99
Percent Dollars 1.23%
Number of Accts 9,252
Percent Number of Accts 0.59%
61-90 days past due Dollars 18,507,993.12
Percent Dollars 0.83%
Number of Accts 5,788
Percent Number of Accts 0.37%
91-120 days past due Dollars 14,480,643.46
Percent Dollars 0.65%
Number of Accts 4,490
Percent Number of Accts 0.29%
121-150 days past due Dollars 10,878,496.69
Percent Dollars 0.49%
Number of Accts 3,236
Percent Number of Accts 0.21%
151-180 days past due Dollars 8,656,938.62
Percent Dollars 0.39%
Number of Accts 2,493
Percent Number of Accts 0.16%
181 + days past due Dollars 11,964,555.16
Percent Dollars 0.53%
Number of Accts 3,383
Percent Number of Accts 0.22%
9. Base Rate Calculation
Base Rate 7.59%
Portfolio Yield (net of losses) 13.74%(1)
Excess of Portfolio Yield over Base Rate 6.15%
10. Number of Accounts in the Trust
Number of Additional Accounts 269,585
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,809
Ending Number of Accounts 1,573,263
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the October Servicer's Report does
not include the receivables arising under the addition of accounts to
the Trust on October 1, 1996. However, Principal Collections on the
Receivables, Finance Charge Receivables and Receivables in Defaulted
Accounts arising under such Additional Accounts to the Trust were
included in the October Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under
the October 1st addition included in the Aggregate Principal
Receivables, the percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 4.63%
Excess Spread:
Series 1993-1: 3.75%
Series 1994-1: 3.45%
Series 1994-2: 2.86%
Series 1995-1: 2.81%
Series 1996-1: 2.84%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 4
Monthly Period Ended October 31, 1996
Distribution Date November 15, 1996
Determination Date November 8, 1996
Number of Days in Period 31
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 1,770,537,407.75(1)
Principal Collections on the Receivables 230,227,056.43
Finance Charge Receivables 29,144,248.95
Receivables in Defaulted Accounts 8,868,010.25
End of Month - Aggregate Principal Receivables 2,236,407,946.23
Investor Interest Series 1993-1 16,666,666.67
Investor Interest Series 1994-1 150,000,000.00
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 869,741,279.56
Total Investor Percentage with respect to...
Finance Charges 17.8858245%
Charged-Off Accounts 17.8858245%
Principal Receivables 8.9429122%
Class A Percentage with respect to...
Finance Charges 16.9468187%
Charged-Off Accounts 16.9468187%
Principal Receivables 8.4734093%
Class B Percentage with respect to...
Finance Charges 0.9390058%
Charged-Off Accounts 0.9390058%
Principal Receivables 0.4695029%
Seller Percentage with respect to ...
Finance Charges 38.8900997%
Charged-Off Accounts 38.8900997%
Principal Receivables 37.3996143%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,238,597.56
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,806,970.09
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 631,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,898,280.08
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,901,680.73
Class A Required Amount 0.00
Class B Available Finance Charge Collections 345,674.27
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 102,834.85
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 35,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 105,181.75
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 102,657.67
Class B Required Amount 0.00
Total Excess Spread 2,004,338.40
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class
A Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 2,004,338.40
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,315,454.62
Remaining Excess Servicing (percentage of Investor Interest) 3.95%(1)
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 26,006,460.57
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 28,009,922.39
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,806,970.09
Total Distribution to Class A Investors per $1,000 Invested 4.77
Total Distribution to Class B Investors 102,834.85
Total Distribution to Class B Investors per $1,000 Invested 4.90
3. Calculation of Certificate Interest
Class A Certificate Rate 5.53672%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,806,970.09
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,806,970.09
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.77
Class B Certificate Rate 5.68672%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 102,834.85
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 102,834.85
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.90
Total Certificate Interest Distributable to
Certificateholders 1,909,804.94
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.77
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 24,641,121.39
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 26,539,401.47
Class A Monthly Principal Reinvested in Receivables 26,539,401.47
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 1,365,339.18
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,470,520.93
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,470,520.93
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 631,666.67
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan
Agreement 2,004,338.40
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 56,209.02
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,506,975.36
Percent Dollars 5.12%
Number of Accts 39,153
Percent Number of Accts 2.49%
31-60 days past due Dollars 27,579,117.99
Percent Dollars 1.23%
Number of Accts 9,252
Percent Number of Accts 0.59%
61-90 days past due Dollars 18,507,993.12
Percent Dollars 0.83%
Number of Accts 5,788
Percent Number of Accts 0.37%
91-120 days past due Dollars 14,480,643.46
Percent Dollars 0.65%
Number of Accts 4,490
Percent Number of Accts 0.29%
121-150 days past due Dollars 10,878,496.69
Percent Dollars 0.49%
Number of Accts 3,236
Percent Number of Accts 0.21%
151-180 days past due Dollars 8,656,938.62
Percent Dollars 0.39%
Number of Accts 2,493
Percent Number of Accts 0.16%
181 + days past due Dollars 11,964,555.16
Percent Dollars 0.53%
Number of Accts 3,383
Percent Number of Accts 0.22%
9. Base Rate Calculation
Base Rate 7.54%
Portfolio Yield (net of losses) 13.74%(1)
Excess of Portfolio Yield over Base Rate 6.20%
10. Number of Accounts in the Trust
Number of Additional Accounts 269,585
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,809
Ending Number of Accounts 1,573,263
(1) Consistent with the Servicer's standard methodology, the Aggregate
Principal Receivables reported in the October Servicer's Report does
not include the receivables arising under the addition of accounts to
the Trust on October 1, 1996. However, Principal Collections on the
Receivables, Finance Charge Receivables and Receivables in Defaulted
Accounts arising under such Additional Accounts to the Trust were
included in the October Servicer's Report, in accordance with the
standard methodology. Were the Principal Receivables arising under
the October 1st addition included in the Aggregate Principal
Receivables, the percentages would be calculated as set forth below:
Portfolio Yield (net of losses): 10.64%
Receivables in Defaulted Accounts: 4.63%
Excess Spread:
Series 1993-1: 3.75%
Series 1994-1: 3.45%
Series 1994-2: 2.86%
Series 1995-1: 2.81%
Series 1996-1: 2.84%
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1993-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 42
Monthly Period Ended November 30, 1996
Distribution Date December 16, 1996
Determination Date December 10, 1996
1. Trust Activity Series 1993-1
Beginning of Month - Aggregate Principal Receivables 2,236,407,946.23
Principal Collections on the Receivables 203,474,222.52
Finance Charge Receivables 29,519,352.54
Receivables in Defaulted Accounts 8,984,234.51
End of Month - Aggregate Principal Receivables 2,180,840,579.58
Investor Interest Series 1993-1 0.00
Investor Interest Series 1994-1 133,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 847,507,246.25
Investor Percentage with respect to...
Finance Charges 0.0000000%
Charged-Off Accounts 0.0000000%
Principal Receivables 9.1707758%
Seller Percentage with respect to ...
Finance Charges 38.8614947%
Charged-Off Accounts 38.8614947%
Principal Receivables 35.8045694%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 219,990.82
Available Principal Collections 18,196,521.15
Investor Default Amount 66,954.35
Aggregate Collections Allocated to Certificateholders 18,416,511.97
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 66,666.67
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 1,596,808.84
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 58,592.02
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 27,777.78
Monthly Certificate Insurer Fee 0.00
Excess Servicing (Shortfall) (dollars) 58,592.02
Excess Servicing (Shortfall) (percentage of Investor Iterest) 4.22%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amount) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 16,733,333.33
Total Distribution to Investors per $1,000 Invested 83.67
3. Calculation of Certificate Interest
Certificate Rate 4.80000%
This Month Certificate Interest 66,666.67
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 66,666.67
Total Certificate Interest Distributable per $1,000 of Original
Investment 0.33
4. Calculation of Monthly Principal
Beginning Investor Interest 16,666,666.67
Available Principal Collections 18,196,521.15
Investor Default Amount 66,954.35
Total Investor Monthly Principal 18,263,475.51
Investor Monthly Principal Reinvested in Receivables 1,596,808.84
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 0.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 0.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 16,666,666.67
Monthly Servicing Fee 27,777.78
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 4,000,000.00
Stated Surety Bond Amount 4,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 4,000,000.00
Available Surety Bond Amount (Percentage) 24.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 2,000,000.00
Required Cash Collateral Account Amount 2,000,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 8,426.11
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 2,000,000.00
Available Cash Collateral Amount (Percentage) 12.00%
Total Credit Enhancement Percentage 36.00%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,313,713.14
Percent Dollars 5.24%
Number of Accts 39,366
Percent Number of Accts 2.50%
31-60 days past due Dollars 29,574,078.36
Percent Dollars 1.36%
Number of Accts 9,689
Percent Number of Accts 0.62%
61-90 days past due Dollars 18,383,368.58
Percent Dollars 0.84%
Number of Accts 5,725
Percent Number of Accts 0.36%
91-120 days past due Dollars 15,171,186.50
Percent Dollars 0.70%
Number of Accts 4,491
Percent Number of Accts 0.29%
121-150 days past due Dollars 12,035,920.40
Percent Dollars 0.55%
Number of Accts 3,536
Percent Number of Accts 0.22%
151-180 days past due Dollars 8,976,534.68
Percent Dollars 0.41%
Number of Accts 2,573
Percent Number of Accts 0.16%
181 + days past due Dollars 13,068,989.87
Percent Dollars 0.60%
Number of Accts 3,668
Percent Number of Accts 0.23%
10. Base Rate Calculation
Base Rate 6.90%
Portfolio Yield (net of losses) 11.02%
Excess of Portfolio Yield over Base Rate 4.12%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,125
Ending Number of Accounts 1,574,983
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 34
Monthly Period Ended November 30, 1996
Distribution Date December 16, 1996
Determination Date December 10, 1996
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 2,236,407,946.23
Principal Collections on the Receivables 203,474,222.52
Finance Charge Receivables 29,519,352.54
Receivables in Defaulted Accounts 8,984,234.51
End of Month - Aggregate Principal Receivables 2,180,840,579.58
Investor Interest Series 1993-1 0.00
Investor Interest Series 1994-1 133,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 847,507,246.25
Investor Percentage with respect to...
Finance Charges 6.1138505%
Charged-Off Accounts 6.1138505%
Principal Receivables 9.1707758%
Seller Percentage with respect to ...
Finance Charges 38.8614947%
Charged-Off Accounts 38.8614947%
Principal Receivables 35.8045694%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 1,979,917.34
Available Principal Collections 18,196,521.15
Investor Default Amount 602,589.16
Aggregate Collections Allocated to Certificateholders 20,176,438.50
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 637,500.00
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 2,132,443.64
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 478,109.44
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 250,000.00
Monthly Certificate Insurer Fee 11,718.75
Excess Servicing (Shortfall) (dollars) 478,109.44
Excess Servicing (Shortfall) (percentage of Investor Interest) 3.82%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,304,166.67
Total Distribution to Investors per $1,000 Invested 86.52
3. Calculation of Certificate Interest
Certificate Rate 5.10000%
This Month Certificate Interest 637,500.00
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to
Certificateholders 637,500.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 3.19
4. Calculation of Monthly Principal
Beginning Investor Interest 150,000,000.00
Available Principal Collections 18,196,521.15
Investor Default Amount 602,589.16
Total Investor Monthly Principal 18,799,110.31
Investor Monthly Principal Reinvested in Receivables 2,132,443.64
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 133,333,333.33
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount to
7 decimal places) 0.6666667
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 150,000,000.00
Monthly Servicing Fee 250,000.00
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 15,000,000.00
Stated Surety Bond Amount 13,500,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 13,500,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 5,833,333.33
Required Cash Collateral Account Amount 5,250,000.00
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 24,576.16
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 5,250,000.00
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,313,713.14
Percent Dollars 5.24%
Number of Accts 39,366
Percent Number of Accts 2.50%
31-60 days past due Dollars 29,574,078.36
Percent Dollars 1.36%
Number of Accts 9,689
Percent Number of Accts 0.62%
61-90 days past due Dollars 18,383,368.58
Percent Dollars 0.84%
Number of Accts 5,725
Percent Number of Accts 0.36%
91-120 days past due Dollars 15,171,186.50
Percent Dollars 0.70%
Number of Accts 4,491
Percent Number of Accts 0.29%
121-150 days past due Dollars 12,035,920.40
Percent Dollars 0.55%
Number of Accts 3,536
Percent Number of Accts 0.22%
151-180 days past due Dollars 8,976,534.68
Percent Dollars 0.41%
Number of Accts 2,573
Percent Number of Accts 0.16%
181 + days past due Dollars 13,068,989.87
Percent Dollars 0.60%
Number of Accts 3,668
Percent Number of Accts 0.23%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.02%
Excess of Portfolio Yield over Base Rate 3.82%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,125
Ending Number of Accounts 1,574,983
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 26
Monthly Period Ended November 30, 1996
Distribution Date December 16, 1996
Determination Date December 10, 1996
Number of Days in Period 31
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 2,236,407,946.23
Principal Collections on the Receivables 203,474,222.52
Finance Charge Receivables 29,519,352.54
Receivables in Defaulted Accounts 8,984,234.51
End of Month - Aggregate Principal Receivables 2,180,840,579.58
Investor Interest Series 1993-1 0.00
Investor Interest Series 1994-1 133,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 847,507,246.25
Total Investor Percentage with respect to...
Finance Charges 18.3415516%
Charged-Off Accounts 18.3415516%
Principal Receivables 18.3415516%
Class A Percentage with respect to...
Finance Charges 17.4244740%
Charged-Off Accounts 17.4244740%
Principal Receivables 17.4244740%
Class B Percentage with respect to...
Finance Charges 0.9170776%
Charged-Off Accounts 0.9170776%
Principal Receivables 0.9170776%
Seller Percentage with respect to ...
Finance Charges 38.8614947%
Charged-Off Accounts 38.8614947%
Principal Receivables 35.8045694%
Class A Available Finance Charge Collections 5,015,790.61
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,807,902.78
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,526,559.19
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,047,995.30
Class A Required Amount 0.00
Class B Available Finance Charge Collections 263,988.98
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 99,458.33
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 80,345.22
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 50,852.10
Class B Required Amount 0.00
Total Excess Spread 1,098,847.40
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,098,847.40
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,083,380.73
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 3.25%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 36,393,042.31
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 37,999,946.72
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,807,902.78
Total Distribution to Class A Investors per $1,000 Invested 4.76
Total Distribution to Class B Investors 99,458.33
Total Distribution to Class B Investors per $1,000 Invested 4.97
3. Calculation of Certificate Interest
Class A Certificate Rate 5.52500%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,807,902.78
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,807,902.78
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.76
Class B Certificate Rate 5.77500%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 99,458.33
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 99,458.33
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.97
Total Certificate Interest Distributable to
Certificateholders 1,907,361.11
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.77
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 34,573,390.19
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 36,099,949.39
Class A Monthly Principal Reinvested in Receivables 36,099,949.39
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,819,652.12
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,899,997.33
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,899,997.33
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,098,847.40
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 50,266.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,313,713.14
Percent Dollars 5.24%
Number of Accts 39,366
Percent Number of Accts 2.50%
31-60 days past due Dollars 29,574,078.36
Percent Dollars 1.36%
Number of Accts 9,689
Percent Number of Accts 0.62%
61-90 days past due Dollars 18,383,368.58
Percent Dollars 0.84%
Number of Accts 5,725
Percent Number of Accts 0.36%
91-120 days past due Dollars 15,171,186.50
Percent Dollars 0.70%
Number of Accts 4,491
Percent Number of Accts 0.29%
121-150 days past due Dollars 12,035,920.40
Percent Dollars 0.55%
Number of Accts 3,536
Percent Number of Accts 0.22%
151-180 days past due Dollars 8,976,534.68
Percent Dollars 0.41%
Number of Accts 2,573
Percent Number of Accts 0.16%
181 + days past due Dollars 13,068,989.87
Percent Dollars 0.60%
Number of Accts 3,668
Percent Number of Accts 0.23%
9. Base Rate Calculation
Base Rate 7.53%
Portfolio Yield (net of losses) 11.02%
Excess of Portfolio Yield over Base Rate 3.49%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,125
Ending Number of Accounts 1,574,983
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 21
Monthly Period Ended November 30, 1996
Distribution Date December 16, 1996
Determination Date December 10, 1996
Number of Days in Period 31
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 2,236,407,946.23
Principal Collections on the Receivables 203,474,222.52
Finance Charge Receivables 29,519,352.54
Receivables in Defaulted Accounts 8,984,234.51
End of Month - Aggregate Principal Receivables 2,180,840,579.58
Investor Interest Series 1993-1 0.00
Investor Interest Series 1994-1 133,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 847,507,246.25
Total Investor Percentage with respect to...
Finance Charges 18.3415516%
Charged-Off Accounts 18.3415516%
Principal Receivables 18.3415516%
Class A Percentage with respect to...
Finance Charges 17.4244740%
Charged-Off Accounts 17.4244740%
Principal Receivables 17.4244740%
Class B Percentage with respect to...
Finance Charges 0.9170776%
Charged-Off Accounts 0.9170776%
Principal Receivables 0.9170776%
Seller Percentage with respect to ...
Finance Charges 38.8614947%
Charged-Off Accounts 38.8614947%
Principal Receivables 35.8045694%
Class A Available Finance Charge Collections 5,015,790.61
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,824,263.89
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,526,559.19
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,031,634.19
Class A Required Amount 0.00
Class B Available Finance Charge Collections 263,988.98
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 98,597.22
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 80,345.22
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 51,713.21
Class B Required Amount 0.00
Total Excess Spread 1,083,347.40
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed
Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed
Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,083,347.40
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,068,686.29
Remaining Excess Servicing (percentage of Investor Interest) 3.21%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 36,393,042.31
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 37,999,946.72
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,824,263.89
Total Distribution to Class A Investors per $1,000 Invested 4.80
Total Distribution to Class B Investors 98,597.22
Total Distribution to Class B Investors per $1,000 Invested 4.93
3. Calculation of Certificate Interest
Class A Certificate Rate 5.57500%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
This Month Class A Certificate Interest 1,824,263.89
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,824,263.89
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.80
Class B Certificate Rate 5.72500%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 98,597.22
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 98,597.22
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.93
Total Certificate Interest Distributable to
Certificateholders 1,922,861.11
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.81
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 34,573,390.19
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 36,099,949.39
Class A Monthly Principal Reinvested in Receivables 36,099,949.39
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,819,652.12
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,899,997.33
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,899,997.33
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan
Agreement 1,083,347.40
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 33,704.44
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,313,713.14
Percent Dollars 5.24%
Number of Accts 39,366
Percent Number of Accts 2.50%
31-60 days past due Dollars 29,574,078.36
Percent Dollars 1.36%
Number of Accts 9,689
Percent Number of Accts 0.62%
61-90 days past due Dollars 18,383,368.58
Percent Dollars 0.84%
Number of Accts 5,725
Percent Number of Accts 0.36%
91-120 days past due Dollars 15,171,186.50
Percent Dollars 0.70%
Number of Accts 4,491
Percent Number of Accts 0.29%
121-150 days past due Dollars 12,035,920.40
Percent Dollars 0.55%
Number of Accts 3,536
Percent Number of Accts 0.22%
151-180 days past due Dollars 8,976,534.68
Percent Dollars 0.41%
Number of Accts 2,573
Percent Number of Accts 0.16%
181 + days past due Dollars 13,068,989.87
Percent Dollars 0.60%
Number of Accts 3,668
Percent Number of Accts 0.23%
9. Base Rate Calculation
Base Rate 7.58%
Portfolio Yield (net of losses) 11.02%
Excess of Portfolio Yield over Base Rate 3.44%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,125
Ending Number of Accounts 1,574,983
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 5
Monthly Period Ended November 30, 1996
Distribution Date December 16, 1996
Determination Date December 10, 1996
Number of Days in Period 31
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 2,236,407,946.23
Principal Collections on the Receivables 203,474,222.52
Finance Charge Receivables 29,519,352.54
Receivables in Defaulted Accounts 8,984,234.51
End of Month - Aggregate Principal Receivables 2,180,840,579.58
Investor Interest Series 1993-1 0.00
Investor Interest Series 1994-1 133,333,333.33
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 847,507,246.25
Total Investor Percentage with respect to...
Finance Charges 18.3415516%
Charged-Off Accounts 18.3415516%
Principal Receivables 9.1707758%
Class A Percentage with respect to...
Finance Charges 17.3786201%
Charged-Off Accounts 17.3786201%
Principal Receivables 8.6893101%
Class B Percentage with respect to...
Finance Charges 0.9629315%
Charged-Off Accounts 0.9629315%
Principal Receivables 0.4814657%
Seller Percentage with respect to ...
Finance Charges 38.8614947%
Charged-Off Accounts 38.8614947%
Principal Receivables 35.8045694%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,002,591.16
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,803,145.14
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 631,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,522,541.93
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,045,237.42
Class A Required Amount 0.00
Class B Available Finance Charge Collections 277,188.43
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 102,622.92
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 35,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 84,362.48
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 55,203.03
Class B Required Amount 0.00
Total Excess Spread 1,100,440.45
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap
Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing
Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A
Required Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A
Monthly Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B
Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash
Collateral Account 0.00
Excess Spread used to satisfy shortfalls of the Class A
Interest Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B
Interest Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,100,440.45
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,079,560.45
Remaining Excess Servicing (percentage of Investor Interest) 3.24%
Class A Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 18,196,521.15
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 19,803,425.57
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall
(Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,803,145.14
Total Distribution to Class A Investors per $1,000 Invested 4.76
Total Distribution to Class B Investors 102,622.92
Total Distribution to Class B Investors per $1,000 Invested 4.89
3. Calculation of Certificate Interest
Class A Certificate Rate 5.52500%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class A Certificate Interest 1,803,145.14
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,803,145.14
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 4.76
Class B Certificate Rate 5.67500%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 102,622.92
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 102,622.92
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.89
Total Certificate Interest Distributable to
Certificateholders 1,905,768.06
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.76
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 17,241,203.79
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 18,763,745.73
Class A Monthly Principal Reinvested in Receivables 18,763,745.73
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 955,317.36
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,039,679.84
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,039,679.84
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 631,666.67
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,100,440.45
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 50,266.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 114,313,713.14
Percent Dollars 5.24%
Number of Accts 39,366
Percent Number of Accts 2.50%
31-60 days past due Dollars 29,574,078.36
Percent Dollars 1.36%
Number of Accts 9,689
Percent Number of Accts 0.62%
61-90 days past due Dollars 18,383,368.58
Percent Dollars 0.84%
Number of Accts 5,725
Percent Number of Accts 0.36%
91-120 days past due Dollars 15,171,186.50
Percent Dollars 0.70%
Number of Accts 4,491
Percent Number of Accts 0.29%
121-150 days past due Dollars 12,035,920.40
Percent Dollars 0.55%
Number of Accts 3,536
Percent Number of Accts 0.22%
151-180 days past due Dollars 8,976,534.68
Percent Dollars 0.41%
Number of Accts 2,573
Percent Number of Accts 0.16%
181 + days past due Dollars 13,068,989.87
Percent Dollars 0.60%
Number of Accts 3,668
Percent Number of Accts 0.23%
9. Base Rate Calculation
Base Rate 7.53%
Portfolio Yield (net of losses) 11.02%
Excess of Portfolio Yield over Base Rate 3.49%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 1,125
Ending Number of Accounts 1,574,983
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 35
Monthly Period Ended December 31, 1996
Distribution Date January 15, 1997
Determination Date January 10, 1997
1. Trust Activity Series 1994-1
Beginning of Month - Aggregate Principal Receivables 2,180,840,579.58
Principal Collections on the Receivables 215,112,172.00
Finance Charge Receivables 30,087,443.65
Receivables in Defaulted Accounts 8,935,292.20
End of Month - Aggregate Principal Receivables 2,174,315,241.66
Investor Interest Series 1994-1 116,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 857,648,574.99
Investor Percentage with respect to...
Finance Charges 5.3656740%
Charged-Off Accounts 5.3656740%
Principal Receivables 9.1982982%
Seller Percentage with respect to ...
Finance Charges 39.4445368%
Charged-Off Accounts 39.4445368%
Principal Receivables 35.6119125%
2. Allocation of Funds in Collection Account
Available Finance Charge Collections 1,839,501.33
Available Principal Collections 19,727,455.00
Investor Default Amount 546,290.41
Aggregate Collections Allocated to Certificateholders 21,566,956.34
Monthly Certificate Interest Payable to Certificateholders
(See "Calculation of Certificate Interest" #3) 566,666.67
Monthly Principal Payable To Certificateholders
(See "Calculation of Monthly Principal" #4) 16,666,666.67
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 3,607,078.74
(Net Deposit)/Draws on Shared Principal Collections 0.00
Collections Available to Reimburse Investor Charge offs 493,905.37
Aggregate Investor Charge Offs 0.00
Reimbursed Investor Charge Offs 0.00
Reimbursed Investor Charge Offs per $1,000 Original Investment 0.00
Monthly Investor Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 222,222.22
Monthly Certificate Insurer Fee 10,416.67
Excess Servicing (Shortfall) (dollars) 493,905.37
Excess Servicing (Shortfall) (percentage of Investor Interest) 4.45%
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Surety Bond Claim 0.00
Certificate Insurer Fee Shortfall 0.00
Servicing Fee Shortfall 0.00
Investor Charge Offs 0.00
Investor Charge Offs per $1,000 Original Investment 0.00
Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Payments To Certificate Insurer 0.00
Deposits In Cash Collateral Account 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Investors 17,233,333.33
Total Distribution to Investors per $1,000 Invested 86.17
3. Calculation of Certificate Interest
Certificate Rate 5.10000%
This Month Certificate Interest 566,666.67
Previous Month's Deficiency Amount 0.00
Total Certificate Interest Distributable to Certificateholders 566,666.67
Total Certificate Interest Distributable per $1,000 of Original
Investment 2.83
4. Calculation of Monthly Principal
Beginning Investor Interest 133,333,333.33
Available Principal Collections 19,727,455.00
Investor Default Amount 546,290.41
Total Investor Monthly Principal 20,273,745.41
Investor Monthly Principal Reinvested in Receivables 3,607,078.74
Controlled Amortization Amount 16,666,666.67
Maximum Monthly Principal to Certificateholders 16,666,666.67
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Certificateholders 16,666,666.67
Monthly Principal Payable per $1,000 of Original Investment 83.33
Ending Investor Interest 116,666,666.67
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 0.5833333
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Investor Interest 133,333,333.33
Monthly Servicing Fee 222,222.22
7. Calculation of Remaining Surety Bond Amount
Available Surety Bond Amount on Previous Payment Date 13,500,000.00
Stated Surety Bond Amount 12,000,000.00
Unreimbursed Claims on Surety Bond 0.00
Reimbursements of Claims on Surety Bond 0.00
Available Surety Bond Amount (Dollars) 12,000,000.00
Available Surety Bond Amount (Percentage) 9.00%
8. Cash Collateral Account Activity
Beginning of Month Balance 5,250,000.00
Required Cash Collateral Account Amount 4,666,666.67
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 25,604.26
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 4,666,666.67
Available Cash Collateral Amount (Percentage) 3.50%
Total Credit Enhancement Percentage 12.50%
9. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 122,962,270.13
Percent Dollars 5.66%
Number of Accts 42,790
Percent Number of Accts 3.17%
31-60 days past due Dollars 30,476,975.96
Percent Dollars 1.40%
Number of Accts 10,135
Percent Number of Accts 0.75%
61-90 days past due Dollars 19,514,180.27
Percent Dollars 0.90%
Number of Accts 5,961
Percent Number of Accts 0.44%
91-120 days past due Dollars 15,215,724.36
Percent Dollars 0.70%
Number of Accts 4,539
Percent Number of Accts 0.34%
121-150 days past due Dollars 12,649,490.43
Percent Dollars 0.58%
Number of Accts 3,593
Percent Number of Accts 0.27%
151-180 days past due Dollars 9,807,997.88
Percent Dollars 0.45%
Number of Accts 2,806
Percent Number of Accts 0.21%
181 + days past due Dollars 14,665,490.59
Percent Dollars 0.67%
Number of Accts 4,056
Percent Number of Accts 0.30%
10. Base Rate Calculation
Base Rate 7.20%
Portfolio Yield (net of losses) 11.64%
Excess of Portfolio Yield over Base Rate 4.44%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 226,745
Number of Automatic Additonal Accounts 909
Ending Number of Accounts 1,349,867
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1994-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 27
Monthly Period Ended December 31, 1996
Distribution Date January 15, 1997
Determination Date January 10, 1997
Number of Days in Period 30
1. Trust Activity Series 1994-2
Beginning of Month - Aggregate Principal Receivables 2,180,840,579.58
Principal Collections on the Receivables 215,112,172.00
Finance Charge Receivables 30,087,443.65
Receivables in Defaulted Accounts 8,935,292.20
End of Month - Aggregate Principal Receivables 2,174,315,241.66
Investor Interest Series 1994-1 116,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 857,648,574.99
Total Investor Percentage with respect to...
Finance Charges 18.3965964%
Charged-Off Accounts 18.3965964%
Principal Receivables 18.3965964%
Class A Percentage with respect to...
Finance Charges 17.4767666%
Charged-Off Accounts 17.4767666%
Principal Receivables 17.4767666%
Class B Percentage with respect to...
Finance Charges 0.9198298%
Charged-Off Accounts 0.9198298%
Principal Receivables 0.9198298%
Seller Percentage with respect to ...
Finance Charges 39.4445368%
Charged-Off Accounts 39.4445368%
Principal Receivables 35.6119125%
Class A Available Finance Charge Collections 5,242,578.80
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,822,565.50
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,556,927.67
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,229,752.30
Class A Required Amount 0.00
Class B Available Finance Charge Collections 275,925.20
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 100,091.17
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 81,943.56
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 60,557.14
Class B Required Amount 0.00
Total Excess Spread 1,290,309.44
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,290,309.44
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (Shortfall) (dollars) 1,273,242.78
Remaining Excess Servicing (Shortfall) (percentage of
Investor Interest) 3.82%
Class A Investor Certificate Interest Shortfall(Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 39,454,910.00
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 41,093,781.22
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,822,565.50
Total Distribution to Class A Investors per $1,000 Invested 4.80
Total Distribution to Class B Investors 100,091.17
Total Distribution to Class B Investors per $1,000 Invested 5.00
3. Calculation of Certificate Interest
Class A Certificate Rate 5.75547%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,822,565.50
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,822,565.50
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.80
Class B Certificate Rate 6.00547%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 100,091.17
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 100,091.17
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 5.00
Total Certificate Interest Distributable to
Certificateholders 1,922,656.67
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.81
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 37,482,164.50
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 39,039,092.17
Class A Monthly Principal Reinvested in Receivables 39,039,092.17
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,972,745.50
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,054,689.05
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,054,689.05
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,290,309.44
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 57,466.67
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 122,962,270.13
Percent Dollars 5.66%
Number of Accts 42,790
Percent Number of Accts 3.17%
31-60 days past due Dollars 30,476,975.96
Percent Dollars 1.40%
Number of Accts 10,135
Percent Number of Accts 0.75%
61-90 days past due Dollars 19,514,180.27
Percent Dollars 0.90%
Number of Accts 5,961
Percent Number of Accts 0.44%
91-120 days past due Dollars 15,215,724.36
Percent Dollars 0.70%
Number of Accts 4,539
Percent Number of Accts 0.34%
121-150 days past due Dollars 12,649,490.43
Percent Dollars 0.58%
Number of Accts 3,593
Percent Number of Accts 0.27%
151-180 days past due Dollars 9,807,997.88
Percent Dollars 0.45%
Number of Accts 2,806
Percent Number of Accts 0.21%
181 + days past due Dollars 14,665,490.59
Percent Dollars 0.67%
Number of Accts 4,056
Percent Number of Accts 0.30%
9. Base Rate Calculation
Base Rate 7.77%
Portfolio Yield (net of losses) 11.64%
Excess of Portfolio Yield over Base Rate 3.87%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 226,745
Number of Automatic Additonal Accounts 909
Ending Number of Accounts 1,349,867
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1995-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 22
Monthly Period Ended December 31, 1996
Distribution Date January 15, 1997
Determination Date January 10, 1997
Number of Days in Period 30
1. Trust Activity Series 1995-1
Beginning of Month - Aggregate Principal Receivables 2,180,840,579.58
Principal Collections on the Receivables 215,112,172.00
Finance Charge Receivables 30,087,443.65
Receivables in Defaulted Accounts 8,935,292.20
End of Month - Aggregate Principal Receivables 2,174,315,241.66
Investor Interest Series 1994-1 116,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 857,648,574.99
Total Investor Percentage with respect to...
Finance Charges 18.3965964%
Charged-Off Accounts 18.3965964%
Principal Receivables 18.3965964%
Class A Percentage with respect to...
Finance Charges 17.4767666%
Charged-Off Accounts 17.4767666%
Principal Receivables 17.4767666%
Class B Percentage with respect to...
Finance Charges 0.9198298%
Charged-Off Accounts 0.9198298%
Principal Receivables 0.9198298%
Seller Percentage with respect to ...
Finance Charges 39.4445368%
Charged-Off Accounts 39.4445368%
Principal Receivables 35.6119125%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,242,578.80
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,838,398.83
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 633,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,556,927.67
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,213,918.96
Class A Required Amount 0.00
Class B Available Finance Charge Collections 275,925.20
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 99,257.83
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 33,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 81,943.56
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 61,390.48
Class B Required Amount 0.00
Total Excess Spread 1,275,309.44
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly Cap
Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class
A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A
Required Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,275,309.44
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,259,131.66
Remaining Excess Servicing (percentage of Investor Interest) 3.78%
Class A Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 39,454,910.00
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 41,093,781.22
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,838,398.83
Total Distribution to Class A Investors per $1,000 Invested 4.84
Total Distribution to Class B Investors 99,257.83
Total Distribution to Class B Investors per $1,000 Invested 4.96
3. Calculation of Certificate Interest
Class A Certificate Rate 5.80547%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,838,398.83
Expected Class A Principal 380,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,838,398.83
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.84
Class B Certificate Rate 5.95547%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class B Certificate Interest 99,257.83
Expected Class B Principal 20,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 99,257.83
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.96
Total Certificate Interest Distributable to
Certificateholders 1,937,656.66
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.84
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 380,000,000.00
Class A Available Principal Collections 37,482,164.50
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 39,039,092.17
Class A Monthly Principal Reinvested in Receivables 39,039,092.17
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 20,000,000.00
Class B Available Principal Collections 1,972,745.50
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,054,689.05
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,054,689.05
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 380,000,000.00
Ending Class B Interest 20,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount to
7 decimal places) 1.0000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 380,000,000.00
Beginning Class B Investor Interest 20,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 633,333.33
Class B Monthly Servicing Fee 33,333.33
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,275,309.44
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 39,016.02
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 122,962,270.13
Percent Dollars 5.66%
Number of Accts 42,790
Percent Number of Accts 3.17%
31-60 days past due Dollars 30,476,975.96
Percent Dollars 1.40%
Number of Accts 10,135
Percent Number of Accts 0.75%
61-90 days past due Dollars 19,514,180.27
Percent Dollars 0.90%
Number of Accts 5,961
Percent Number of Accts 0.44%
91-120 days past due Dollars 15,215,724.36
Percent Dollars 0.70%
Number of Accts 4,539
Percent Number of Accts 0.34%
121-150 days past due Dollars 12,649,490.43
Percent Dollars 0.58%
Number of Accts 3,593
Percent Number of Accts 0.27%
151-180 days past due Dollars 9,807,997.88
Percent Dollars 0.45%
Number of Accts 2,806
Percent Number of Accts 0.21%
181 + days past due Dollars 14,665,490.59
Percent Dollars 0.67%
Number of Accts 4,056
Percent Number of Accts 0.30%
9. Base Rate Calculation
Base Rate 7.81%
Portfolio Yield (net of losses) 11.64%
Excess of Portfolio Yield over Base Rate 3.83%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 226,745
Number of Automatic Additonal Accounts 909
Ending Number of Accounts 1,349,867
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 6
Monthly Period Ended December 31, 1996
Distribution Date January 15, 1997
Determination Date January 10, 1997
Number of Days in Period 30
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 2,180,840,579.58
Principal Collections on the Receivables 215,112,172.00
Finance Charge Receivables 30,087,443.65
Receivables in Defaulted Accounts 8,935,292.20
End of Month - Aggregate Principal Receivables 2,174,315,241.66
Investor Interest Series 1994-1 116,666,666.67
Investor Interest Series 1994-2 400,000,000.00
Investor Interest Series 1995-1 400,000,000.00
Investor Interest Series 1996-1 400,000,000.00
Seller Principal Receivables 857,648,574.99
Total Investor Percentage with respect to...
Finance Charges 18.3965964%
Charged-Off Accounts 18.3965964%
Principal Receivables 18.3965964%
Class A Percentage with respect to...
Finance Charges 17.4307751%
Charged-Off Accounts 17.4307751%
Principal Receivables 17.4307751%
Class B Percentage with respect to...
Finance Charges 0.9658213%
Charged-Off Accounts 0.9658213%
Principal Receivables 0.9658213%
Seller Percentage with respect to ...
Finance Charges 39.4445368%
Charged-Off Accounts 39.4445368%
Principal Receivables 35.6119125%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,228,782.54
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 1,817,769.28
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 631,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 1,552,830.49
Unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Finance Charge Collections 1,226,516.11
Class A Required Amount 0.00
Class B Available Finance Charge Collections 289,721.46
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 103,345.73
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 35,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 86,040.74
Unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Finance Charge Collections 65,335.00
Class B Required Amount 0.00
Total Excess Spread 1,291,851.10
Excess Spread used to Satisfy Class A Required Amount 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class A Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class A Investor
Charge-offs 0.00
Remaining Class A Required Amount 0.00
Excess Spread used to satisfy Class B Required Amount 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Cap Interest 0.00
Excess Spread used to satisfy Unpaid Class B Monthly Servicing Fee 0.00
Excess Spread used to satisfy Unreimbursed Class B Investor
Charge-offs 0.00
Remaining Class B Required Amount 0.00
Shared Finance Charges used to satisfy Remaining Class A Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class A
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Reallocated Amount used to satisfy Remaining Class A Required
Amount 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Cap Interest 0.00
Class B Reallocated Amount used to satisfy Unpaid Class A Monthly
Servicing Fee 0.00
Class B Reallocated Amount used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Class B Investor Interest used to satisfy Unreimbursed Class A
Investor Charge-offs 0.00
Shared Finance Charges used to satisfy Remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Shared Finance Charges used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Shared Finance Charges used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Remaining Class B
Required Amount 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy Unpaid Class B Monthly
Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy Unreimbursed Class B
Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Excess Spread used to satisfy interest on overdue Class A
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #3) 0.00
Excess Spread used to satisfy reimbursements of Class B Interest 0.00
Excess Spread used to satisfy deposits into Required Cash Collateral
Account 0.00
Excess Spread used to satisfy shortfalls of the Class A Interest
Payments 0.00
Excess Spread used to satisfy shortfalls of the Class B Interest
Payments 0.00
Excess Spread used to satisfy payments per Loan Agreement 1,291,851.10
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Servicing (dollars) 1,268,811.10
Remaining Excess Servicing (percentage of Investor Interest) 3.81%
Class A Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Class A Charge-offs 0.00
Unreimbursed Class A Charge Offs 0.00
Unreimbursed Class A Charge Offs per $1,000 Original Investment 0.00
Class A Monthly Servicing Fee Shortfall 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Charge-offs 0.00
Unreimbursed Class B Charge Offs 0.00
Unreimbursed Class B Charge Offs per $1,000 Original Investment 0.00
Class B Monthly Servicing Fee Shortfall 0.00
Available Principal Collections 19,727,455.00
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Payable To Class B Certificateholders
(See "Calculation of Monthly Principal" #4) 0.00
Monthly Principal Reinvested In Receivables
(See "Calculation of Monthly Principal" #4) 21,366,326.23
(Net Deposit)/Draws on Shared Principal Collections 0.00
Required Shared Finance Charge Collections from other Series 0.00
Draw on Shared Finance Charge Collections from other Series 0.00
Withdrawal from Cash Collateral Account 0.00
Class B Investor Certificate Interest Shortfall (Deficiency Amounts) 0.00
Required Shared Finance Charge Collections for other Series 0.00
Deposit of Shared Finance Charge Collections for other Series 0.00
Total Distribution to Class A Investors 1,817,769.28
Total Distribution to Class A Investors per $1,000 Invested 4.80
Total Distribution to Class B Investors 103,345.73
Total Distribution to Class B Investors per $1,000 Invested 4.92
3. Calculation of Certificate Interest
Class A Certificate Rate 5.75547%
Class A Interest Rate Cap Provider Deposit 0.00
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on Deficiency Amount 0.00
This Month Class A Certificate Interest 1,817,769.28
Expected Class A Principal 379,000,000.00
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 1,817,769.28
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 4.80
Class B Certificate Rate 5.90547%
Class B Interest Rate Cap Provider Deposit 0.00
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on Deficiency
Amount 0.00
This Month Class B Certificate Interest 103,345.73
Expected Class B Principal 21,000,000.00
This Month Class B Cap Shortfall 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 103,345.73
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 4.92
Total Certificate Interest Distributable to
Certificateholders 1,921,115.00
Total Certificate Interest Distributable per $1,000 of
Original Investment 4.80
4. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Interest 379,000,000.00
Class A Available Principal Collections 18,691,763.61
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 20,244,594.10
Class A Monthly Principal Reinvested in Receivables 20,244,594.10
Class A Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class A Certificateholders 0.00
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 0.00
Class A Monthly Principal Payable per $1,000 of Original Investment 0.00
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 1,035,691.39
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 1,121,732.13
Class B Reallocated Principal 0.00
Prior Month's Cumulative Class B Reallocated Principal 0.00
Class B Reduction of Interest 0.00
Prior Month's Cumulative Class B Reduction of Interest 0.00
Class B Monthly Principal Reinvested in Receivables 1,121,732.13
Class B Controlled Amortization Amount 0.00
Maximum Monthly Principal to Class B Certificateholders 0.00
Required Shared Principal Collections for other Series 0.00
Deposit of Shared Principal Collections for other Series 0.00
Required Shared Principal Collections from other Series 0.00
Draw on Shared Principal Collections from other Series 0.00
Class B Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class B Certificateholders 0.00
Class B Monthly Principal Payable per $1,000 of Original Investment 0.00
Ending Investor Interest 400,000,000.00
Ending Class A Interest 379,000,000.00
Ending Class B Interest 21,000,000.00
5. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal Amount
to 7 decimal places) 1.000000
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 379,000,000.00
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 400,000,000.00
Class A Monthly Servicing Fee 631,666.67
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 666,666.67
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 36,000,000.00
Excess Spread used to satisfy payments per Loan Agreement 1,291,851.10
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 57,133.33
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 36,000,000.00
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-30 days past due Dollars 122,962,270.13
Percent Dollars 5.66%
Number of Accts 42,790
Percent Number of Accts 3.17%
31-60 days past due Dollars 30,476,975.96
Percent Dollars 1.40%
Number of Accts 10,135
Percent Number of Accts 0.75%
61-90 days past due Dollars 19,514,180.27
Percent Dollars 0.90%
Number of Accts 5,961
Percent Number of Accts 0.44%
91-120 days past due Dollars 15,215,724.36
Percent Dollars 0.70%
Number of Accts 4,539
Percent Number of Accts 0.34%
121-150 days past due Dollars 12,649,490.43
Percent Dollars 0.58%
Number of Accts 3,593
Percent Number of Accts 0.27%
151-180 days past due Dollars 9,807,997.88
Percent Dollars 0.45%
Number of Accts 2,806
Percent Number of Accts 0.21%
181 + days past due Dollars 14,665,490.59
Percent Dollars 0.67%
Number of Accts 4,056
Percent Number of Accts 0.30%
9. Base Rate Calculation
Base Rate 7.76%
Portfolio Yield (net of losses) 11.64%
Excess of Portfolio Yield over Base Rate 3.88%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Removed Accounts 226,745
Number of Automatic Additonal Accounts 909
Ending Number of Accounts 1,349,867
