MONTHLY SERVICER'S CERTIFICATE
PEOPLE'S BANK
People's Bank Credit Card Master Trust
For the January 10, 2001 Determination Date
For the December 2000 Monthly Period
The undersigned, a duly authorized representative of People's Bank, as
Servicer pursuant to the Amended and Restated Pooling and Servicing Agreement
dated as of March 18, 1997, (as heretofore amended, supplemented or otherwise
modified, the "Pooling and Servicing Agreement") by and between People's Bank
and Bankers Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective meanings
set forth in the Pooling and Servicing Agreement; provided, that the
"preceding Monthly Period" shall mean the Monthly Period immediately
preceding the calendar month in which this Certificate is delivered.
This Certificate is delivered pursuant to subsection 3.4 (b) of the
Pooling and Servicing Agreement. References herein to certain sections
and subsections are references to the respective sections and subsections
of the Pooling and Servicing Agreement, as amended by the applicable
Series Supplement.
2. People's Bank is Servicer under the Pooling and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. The date of this Certificate is January 10, 2000, which is a
Determination Date under the Pooling and Servicing Agreement.
5. The aggregate amount of Collections processed during the preceding
Monthly Period (equal to 5(a) plus 5(b)) was equal to...$ 349,352,522.93
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the "Collections of
Finance Charge Receivables") was equal to...............$ 42,914,524.29
(b) The aggregate amount of Collections of Principal Receivables
collected during the preceding Monthly Period (the "Collections of
Principal Receivables") was equal to....................$ 306,437,998.64
6. The aggregate amount of Receivables as of the end of the last day of the
preceding Monthly Period was equal to...................$ 2,635,227,162.04
7. Attached hereto is a true and correct copy of the statements required to
be delivered by the Servicer on the date of this Certificate to the
Paying Agent pursuant to Article V.
8. To the knowledge of the undersigned, there are no Liens on any Receivables
in the Trust except as described below:
"NONE"
9. The amount by which the Aggregate Principal Receivables exceeds the
Aggregate Principal Receivables required to be maintained pursuant to the
Pooling and Servicing Agreement, is equal to............$ 278,213,370.34
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 10th Day of January 2001.
PEOPLE'S BANK
Servicer
By : /s/Lisa Brooks
Name: Lisa Brooks
Title: Vice President
Schedule - to Monthly
Servicer's Certificate
PEOPLE'S BANK
People's Bank Credit Card Master Trust, Series 1996-1
For the January 10, 2001 Determination Date
For the December 2000 Monthly Period
1. The aggregate amount of Collections processed during the preceding Monthly
Period (equal to 1(a) plus 1(b)) was equal to...........$ 52,685,714.79
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the "Collections of Finance
Charge Receivables") allocated to Series 1996-1 was equal
to......................................................$ 6,084,496.21
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period (the "Collections of Principal
Receivables") allocated to Series 1996-1 was equal to....$ 46,601,218.58
2. The aggregate amount of funds on deposit in the Series Accounts with
respect to Series 1996-1 with respect to Collections processed during the
preceding Monthly Period, and applicable to Series 1996-1 as of the
Transfer Date relating to the preceding Monthly Period was equal
to......................................................$ 33,155,924.78
3. (a) The aggregate amount of funds on deposit in the Principal Account with
respect to Collections processed during the preceding Monthly Period and
allocated to Series 1996-1, as of the end of the last day of the
preceding Monthly Period was equal to...................$ 27,071,428.57
(b) The aggregate amount of funds which will be on deposit in the
Principal Account on the Transfer Date following this Determination Date,
will be.................................................$ 27,071,428.57
4. The aggregate amount of funds on deposit in the Collection Subaccount
relating to Series 1996-1 as of the end of the last day of the preceding
Monthly Period was equal to.............................$ 0.00
5. The aggregate amount of withdrawals required to be made under the Cash
Collateral Account pursuant to Section 4.6 on the Determination Date in
the current calendar month is equal to..................$ 0.00
6. (a) The aggregate amount of Recoveries to be deposited to the Collection
Account and allocated to Series 1996-1 on the next succeeding Transfer
Date is equal to........................................$ 251,529.62
(b) The amount of earnings (net of losses and investment expenses) on
funds on deposit in the Excess Funding Account to be transferred from the
Excess Funding Account to the Finance Charge Account on the next
succeeding Transfer Date is equal to....................$ 0.00
7. The sum of all amounts payable to the Investor Certificateholders of
Series 1996-1 on the Distribution Date in the current Monthly Period is
equal to:
Class A Certificateholders
Payable in respect of principal........................$ 27,071,428.57
Payable in respect of interest.........................$ 2,145,982.22
Total..................................................$ 29,217,410.79
Class B Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 130,853.33
Total..................................................$ 130,853.33
8. No Series Pay Out Event or Trust Pay Out Event has occurred.
Schedule - to Monthly
Servicer's Certificate
PEOPLE'S BANK
People's Bank Credit Card Master Trust, Series 1997-1
For the January 10, 2001 Determination Date
For the December 2000 Monthly Period
1. The aggregate amount of Collections processed during the preceding Monthly
Period (equal to 1(a) plus 1(b)) was equal to...........$ 66,409,246.54
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the "Collections of Finance
Charge Receivables") allocated to Series 1997-1 was equal
to......................................................$ 8,157,723.31
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period (the "Collections of Principal
Receivables") allocated to Series 1997-1 was equal to....$ 58,251,523.23
2. The aggregate amount of funds on deposit in the Series Accounts with
respect to Series 1997-1 with respect to Collections processed during the
preceding Monthly Period, and applicable to Series 1997-1 as of the
Transfer Date relating to the preceding Monthly Period was equal
to......................................................$ 8,157,723.31
3. (a) The aggregate amount of funds on deposit in the Principal Account with
respect to Collections processed during the preceding Monthly Period and
allocated to Series 1997-1, as of the end of the last day of the
preceding Monthly Period was equal to...................$ 0.00
(b) The aggregate amount of funds which will be on deposit in the
Principal Account on the Transfer Date following this Determination Date,
will be.................................................$ 0.00
4. The aggregate amount of funds on deposit in the Collection Subaccount
relating to Series 1997-1 as of the end of the last day of the preceding
Monthly Period was equal to.............................$ 0.00
5. The aggregate amount of withdrawals required to be made under the
Enhancement pursuant to Section 4.6 on the Determination Date in
the current calendar month is equal to..................$ 0.00
6. (a) The aggregate amount of Recoveries to be deposited to the Collection
Account and allocated to Series 1997-1 on the next succeeding Transfer
Date is equal to........................................$ 337,235.65
(b) The amount of earnings (net of losses and investment expenses) on
funds on deposit in the Excess Funding Account to be transferred from the
Excess Funding Account to the Finance Charge Account on the next
succeeding Transfer Date is equal to....................$ 0.00
7. The sum of all amounts payable to the Investor Certificateholders of
Series 1997-1 on the Distribution Date in the current Monthly Period is
equal to:
Class A Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 2,580,222.22
Total..................................................$ 2,580,222.22
Class B Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 210,900.00
Total..................................................$ 210,900.00
Collateral Interest
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 185,283.33
Total..................................................$ 185,283.33
8. No Series Pay Out Event or Trust Pay Out Event has occurred.
Schedule - to Monthly
Servicer's Certificate
PEOPLE'S BANK
People's Bank Credit Card Master Trust, Series 1997-2
For the January 10, 2001 Determination Date
For the December 2000 Monthly Period
1. The aggregate amount of Collections processed during the preceding Monthly
Period (equal to 1(a) plus 1(b)) was equal to...........$ 66,409,246.54
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the "Collections of Finance
Charge Receivables") allocated to Series 1997-2 was equal
to......................................................$ 8,157,723.31
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period (the "Collections of Principal
Receivables") allocated to Series 1997-2 was equal to....$ 58,251,523.23
2. The aggregate amount of funds on deposit in the Series Accounts with
respect to Series 1997-2 with respect to Collections processed during the
preceding Monthly Period, and applicable to Series 1997-2 as of the
Transfer Date relating to the preceding Monthly Period was equal
to......................................................$ 8,157,723.31
3. (a) The aggregate amount of funds on deposit in the Principal Account with
respect to Collections processed during the preceding Monthly Period and
allocated to Series 1997-2, as of the end of the last day of the
preceding Monthly Period was equal to...................$ 0.00
(b) The aggregate amount of funds which will be on deposit in the
Principal Account on the Transfer Date following this Determination Date,
will be.................................................$ 0.00
4. The aggregate amount of funds on deposit in the Collection Subaccount
relating to Series 1997-2 as of the end of the last day of the preceding
Monthly Period was equal to.............................$ 0.00
5. The aggregate amount of withdrawals required to be made under the
Enhancement pursuant to Section 4.6 on the Determination Date in
the current calendar month is equal to..................$ 0.00
6. (a) The aggregate amount of Recoveries to be deposited to the Collection
Account and allocated to Series 1997-2 on the next succeeding Transfer
Date is equal to........................................$ 337,235.65
(b) The amount of earnings (net of losses and investment expenses) on
funds on deposit in the Excess Funding Account to be transferred from the
Excess Funding Account to the Finance Charge Account on the next
succeeding Transfer Date is equal to....................$ 0.00
7. The sum of all amounts payable to the Investor Certificateholders of
Series 1997-2 on the Distribution Date in the current Monthly Period is
equal to:
Class A Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 2,584,000.00
Total..................................................$ 2,584,000.00
Class B Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 211,200.00
Total..................................................$ 211,200.00
Collateral Interest
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 200,000.00
Total..................................................$ 200,000.00
8. No Series Pay Out Event or Trust Pay Out Event has occurred.
Schedule - to Monthly
Servicer's Certificate
PEOPLE'S BANK
People's Bank Credit Card Master Trust, Series 1998-1
For the January 10, 2001 Determination Date
For the December 2000 Monthly Period
1. The aggregate amount of Collections processed during the preceding Monthly
Period (equal to 1(a) plus 1(b)) was equal to...........$ 53,127,397.24
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the "Collections of Finance
Charge Receivables") allocated to Series 1998-1 was equal
to......................................................$ 6,526,178.66
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period (the "Collections of Principal
Receivables") allocated to Series 1998-1 was equal to....$ 46,601,218.58
2. The aggregate amount of funds on deposit in the Series Accounts with
respect to Series 1998-1 with respect to Collections processed during the
preceding Monthly Period, and applicable to Series 1998-1 as of the
Transfer Date relating to the preceding Monthly Period was equal
to......................................................$ 6,526,178.66
3. (a) The aggregate amount of funds on deposit in the Principal Account with
respect to Collections processed during the preceding Monthly Period and
allocated to Series 1998-1, as of the end of the last day of the
preceding Monthly Period was equal to...................$ 0.00
(b) The aggregate amount of funds which will be on deposit in the
Principal Account on the Transfer Date following this Determination Date,
will be.................................................$ 0.00
4. The aggregate amount of funds on deposit in the Collection Subaccount
relating to Series 1998-1 as of the end of the last day of the preceding
Monthly Period was equal to.............................$ 0.00
5. The aggregate amount of withdrawals required to be made under the
Enhancement pursuant to Section 4.6 on the Determination Date in
the current calendar month is equal to..................$ 0.00
6. (a) The aggregate amount of Recoveries to be deposited to the Collection
Account and allocated to Series 1998-1 on the next succeeding Transfer
Date is equal to........................................$ 269,788.52
(b) The amount of earnings (net of losses and investment expenses) on
funds on deposit in the Excess Funding Account to be transferred from the
Excess Funding Account to the Finance Charge Account on the next
succeeding Transfer Date is equal to....................$ 0.00
7. The sum of all amounts payable to the Investor Certificateholders of
Series 1998-1 on the Distribution Date in the current Monthly Period is
equal to:
Class A Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 2,088,488.89
Total..................................................$ 2,088,488.89
Class B Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 169,200.00
Total..................................................$ 169,200.00
Collateral Interest
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 128,177.78
Total..................................................$ 128,177.78
8. No Series Pay Out Event or Trust Pay Out Event has occurred.
Schedule - to Monthly
Servicer's Certificate
PEOPLE'S BANK
People's Bank Credit Card Master Trust, Series 1999-1
For the January 10, 2001 Determination Date
For the December 2000 Monthly Period
1. The aggregate amount of Collections processed during the preceding Monthly
Period (equal to 1(a) plus 1(b)) was equal to...........$ 53,127,397.24
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the "Collections of Finance
Charge Receivables") allocated to Series 1999-1 was equal
to......................................................$ 6,526,178.66
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period (the "Collections of Principal
Receivables") allocated to Series 1999-1 was equal to....$ 46,601,218.58
2. The aggregate amount of funds on deposit in the Series Accounts with
respect to Series 1999-1 with respect to Collections processed during the
preceding Monthly Period, and applicable to Series 1999-1 as of the
Transfer Date relating to the preceding Monthly Period was equal
to......................................................$ 6,526,178.66
3. (a) The aggregate amount of funds on deposit in the Principal Account with
respect to Collections processed during the preceding Monthly Period and
allocated to Series 1999-1, as of the end of the last day of the
preceding Monthly Period was equal to...................$ 0.00
(b) The aggregate amount of funds which will be on deposit in the
Principal Account on the Transfer Date following this Determination Date,
will be.................................................$ 0.00
4. The aggregate amount of funds on deposit in the Collection Subaccount
relating to Series 1999-1 as of the end of the last day of the preceding
Monthly Period was equal to.............................$ 0.00
5. The aggregate amount of withdrawals required to be made under the
Enhancement pursuant to Section 4.6 on the Determination Date in
the current calendar month is equal to..................$ 0.00
6. (a) The aggregate amount of Recoveries to be deposited to the Collection
Account and allocated to Series 1999-1 on the next succeeding Transfer
Date is equal to........................................$ 269,788.52
(b) The amount of earnings (net of losses and investment expenses) on
funds on deposit in the Excess Funding Account to be transferred from the
Excess Funding Account to the Finance Charge Account on the next
succeeding Transfer Date is equal to....................$ 0.00
7. The sum of all amounts payable to the Investor Certificateholders of
Series 1999-1 on the Distribution Date in the current Monthly Period is
equal to:
Class A Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 2,103,111.11
Total..................................................$ 2,103,111.11
Class B Certificateholders
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 187,920.00
Total..................................................$ 187,920.00
Collateral Interest
Payable in respect of principal........................$ 0.00
Payable in respect of interest.........................$ 138,626.84
Total..................................................$ 138,626.84
8. No Series Pay Out Event or Trust Pay Out Event has occurred.
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1996-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 54
Monthly Period Ended December 31, 2000
Distribution Date January 16, 2001
Determination Date January 10, 2001
Number of Days in Period 32
1. Trust Activity Series 1996-1
Beginning of Month - Aggregate Principal Receivables 2,630,300,305.23
Principal Collections on the Receivables 306,437,998.64
Finance Charge Collections on the Receivables 42,914,524.29
Receivables in Defaulted Accounts 17,713,772.15
End of Month - Aggregate Principal Receivables 2,635,227,162.04
Investor Interest Series 1996-1 345,857,142.86
Investor Interest Series 1997-1 500,000,000.00
Investor Interest Series 1997-2 500,000,000.00
Investor Interest Series 1998-1 400,000,000.00
Investor Interest Series 1999-1 400,000,000.00
Seller Principal Receivables 489,370,019.18
Total Investor Percentage with respect to...
Finance Charges 13.1243768%
Charged-Off Accounts 13.1243768%
Principal Receivables 15.1789571%
Class A Percentage with respect to...
Finance Charges 12.3274816%
Charged-Off Accounts 12.3274816%
Principal Receivables 14.3820618%
Class B Percentage with respect to...
Finance Charges 0.7968952%
Charged-Off Accounts 0.7968952%
Principal Receivables 0.7968952%
Seller Percentage with respect to ...
Finance Charges 18.5703163%
Charged-Off Accounts 18.5703163%
Principal Receivables 16.5157360%
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,741,871.83
Class A Monthly Cap Interest Payable to Class A Certificateholders
(See "Calculation of Certificate Interest" #3) 2,145,982.22
Unpaid Class A Monthly Cap Interest 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #6) 586,547.62
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,370,064.94
Unpaid Class A Investor Default Amount 0.00
Unreimbursed Class A Investor Charge-offs 0.00
Unpaid unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Available Finance Charge
Collections 639,277.05
Class A Required Amount 0.00
Class B Available Finance Charge Collections 342,624.38
Class B Monthly Cap Interest Payable to Class B Certificateholders
(See "Calculation of Certificate Interest" #3) 130,853.33
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 141,424.62
Unpaid Class B Investor Default Amount 0.00
Unreimbursed Class B Investor Charge-offs 0.00
Unpaid unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Available Finance Charge
Collections 35,346.43
Class B Required Amount 0.00
Total Excess Spread 674,623.48
Excess Spread used to satisfy Class A Required Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A
Monthly Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class A
Monthly Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class A
Investor Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class B
Monthly Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class B
Monthly Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class B
Investor Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid
Class A Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class A Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class A Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
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 remaining unpaid
Class A Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy remaining unpaid
Class A Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy remaining unpaid
Class A Investor Default Amount 0.00
Cash Collateral Withdrawal used to satisfy remaining unpaid
unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy remaining
Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Principal Collections used to satisfy
unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy remaining
Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Shared Finance Charges used to satisfy remaining Class B Required
Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
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 remaining unpaid
Class B Monthly Cap Interest 0.00
Cash Collateral Withdrawal used to satisfy remaining unpaid
Class B Monthly Servicing Fee 0.00
Cash Collateral Withdrawal used to satisfy remaining Class B
unpaid Investor Default Amount 0.00
Cash Collateral Withdrawal used to satisfy remaining unpaid
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
Investor 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 674,623.48
Excess Spread used to satisfy Class A Excess Interest 0.00
Excess Spread used to satisfy Class B Excess Interest 0.00
Remaining Excess Spread after Funding Spread Account
(Shortfall) (dollars) 658,093.48
Remaining Excess Spread after Funding Spread Account
(Shortfall) (percentage of Investor Interest) 2.12%
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 46,601,218.58
Monthly Principal Payable To Class A Certificateholders
(See "Calculation of Monthly Principal" #4) 27,071,428.57
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) 22,041,279.57
(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 2,436,428.57
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 29,217,410.79
Total Distribution to Class A Investors per $1,000 Invested 77.09
Total Distribution to Class B Investors 130,853.33
Total Distribution to Class B Investors per $1,000 Invested 6.23
3. Calculation of Certificate Interest
Class A Certificate Rate 6.86000%
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 2,145,982.22
Expected Class A Principal 351,928,571.43
This Month Class A Cap Shortfall 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 2,145,982.22
Total Class A Interest Distributable per $1,000 of Class A
Original Investment 5.66
Class B Certificate Rate 7.01000%
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 130,853.33
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 130,853.33
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 6.23
Total Certificate Interest Distributable to
Certificateholders 2,276,835.55
Total Certificate Interest Distributable per $1,000 of
Original Investment 5.69
4. Calculation of Monthly Principal
Beginning Investor Interest 372,928,571.43
Beginning Class A Interest 351,928,571.43
Class A Available Principal Collections 44,154,654.60
Class A Monthly Unreimbursed Charge-Offs 0.00
Total Class A Monthly Principal 46,524,719.54
Class A Monthly Principal Reinvested in Receivables 19,453,290.97
Class A Controlled Amortization Amount 27,071,428.57
Maximum Monthly Principal to Class A Certificateholders 27,071,428.57
Class A Deficit Controlled Amortization Amount 0.00
Monthly Principal Payable to Class A Certificateholders 27,071,428.57
Class A Monthly Principal Payable per $1,000 of Original Investment 71.43
Beginning Class B Interest 21,000,000.00
Class B Available Principal Collections 2,446,563.98
Class B Monthly Unreimbursed Charge-Offs 0.00
Total Class B Monthly Principal 2,587,988.60
Class B Reallocated Principal Collections 0.00
Prior Month's Cumulative Class B Reallocated Principal Collections 0.00
Class B Reallocated Investor Interest 0.00
Prior Month's Cumulative Class B Reallocated Investor Interest 0.00
Class B Monthly Principal Reinvested in Receivables 2,587,988.60
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 345,857,142.86
Ending Class A Interest 324,857,142.86
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) 0.8646429
6. Calculation of Monthly Servicing Fee
Series Servicing Fee Percentage 2.00%
Beginning Class A Investor Interest 351,928,571.43
Beginning Class B Investor Interest 21,000,000.00
Beginning Investor Interest 372,928,571.43
Class A Monthly Servicing Fee 586,547.62
Class B Monthly Servicing Fee 35,000.00
Total Monthly Servicing Fee 621,547.62
7. Cash Collateral Account Activity
Beginning of Month Balance 36,000,000.00
Required Cash Collateral Account Amount 33,563,571.43
Excess Spread used to satisfy payments per Loan Agreement 674,623.48
Cash Collateral Account Deposits 0.00
Reinvestment Income Received on Cash Collateral Account 115,637.50
Aggregate Cash Collateral Account Draws 0.00
Available Cash Collateral Amount (Dollars) 33,563,571.43
Available Cash Collateral Amount (Percentage) 9.00%
8. Past Due Statistics
(past due on a contractual basis)
1-29 days past due Dollars 124,514,251.61
Percent Dollars 4.72%
Number of Accts 32,934
Percent Number of Accts 1.44%
30-59 days past due Dollars 38,624,864.88
Percent Dollars 1.47%
Number of Accts 8,301
Percent Number of Accts 0.36%
60-89 days past due Dollars 30,176,720.10
Percent Dollars 1.15%
Number of Accts 5,771
Percent Number of Accts 0.25%
90-119 days past due Dollars 25,251,366.68
Percent Dollars 0.96%
Number of Accts 4,557
Percent Number of Accts 0.20%
120-149 days past due Dollars 19,845,517.32
Percent Dollars 0.75%
Number of Accts 3,402
Percent Number of Accts 0.15%
150+ days past due Dollars 17,458,512.46
Percent Dollars 0.66%
Number of Accts 2,905
Percent Number of Accts 0.13%
9. Base Rate Calculation
Gross Yield 19.58%
Percentage on Defaulted Accounts 8.08%
Portfolio Yield (net of losses) 11.50%
Base Rate 8.87%
Excess of Portfolio Yield over Base Rate 2.63%
10. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Expired Removed Accounts 46,827
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 6
Ending Number of Accounts 2,290,632
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1997-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 46
Monthly Period Ended December 31, 2000
Distribution Date January 16, 2001
Determination Date January 10, 2001
Number of Days in Period 32
1. Trust Activity Series 1997-1
Beginning of Month - Aggregate Principal Receivables 2,630,300,305.23
Principal Collections on the Receivables 306,437,998.64
Finance Charge Collections on the Receivables 42,914,524.29
Receivables in Defaulted Accounts 17,713,772.15
End of Month - Aggregate Principal Receivables 2,635,227,162.04
Investor Interest Series 1996-1 345,857,142.86
Investor Interest Series 1997-1 500,000,000.00
Investor Interest Series 1997-2 500,000,000.00
Investor Interest Series 1998-1 400,000,000.00
Investor Interest Series 1999-1 400,000,000.00
Seller Principal Receivables 489,370,019.18
Adjusted Investor Interest Series 1997-1 500,000,000.00
Class A Adjusted Investor Interest 425,000,000.00
Class B Investor Interest 33,750,000.00
Collateral Interest 41,250,000.00
Total Investor Percentage with respect to...
Finance Charges 18.9736964%
Charged-Off Accounts 18.9736964%
Principal Receivables 18.9736964%
Class A Percentage with respect to...
Finance Charges 16.1276419%
Charged-Off Accounts 16.1276419%
Principal Receivables 16.1276419%
Class B Percentage with respect to...
Finance Charges 1.2807245%
Charged-Off Accounts 1.2807245%
Principal Receivables 1.2807245%
Collateral Interest Percentage with respect to...
Finance Charges 1.5653299%
Charged-Off Accounts 1.5653299%
Principal Receivables 1.5653299%
Seller Percentage with respect to...
Finance Charges 18.5703163%
Charged-Off Accounts 18.5703163%
Principal Receivables 16.5157360%
Discount Option Exercised N/A
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,934,064.82
Class A Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 2,580,222.22
Unpaid Class A Monthly Cap Rate Interest 0.00
Class A Covered Amount
(See "Calculation of Certificate Interest" #4) 0.00
Unpaid Class A Covered Amount 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 708,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,862,164.88
Unpaid Class A Investor Default Amount 0.00
Unreimbursed Class A Investor Charge-offs 0.00
Unpaid unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Available Funds 783,344.39
Class A Required Amount 0.00
Class B Available Finance Charge Collections 550,646.32
Class B Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 210,900.00
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7)" 56,250.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 227,289.56
Unpaid Class B Investor Default Amount 0.00
Unreimbursed Class B Investor Charge-offs 0.00
Unpaid unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Available Funds 56,206.76
Class B Required Amount 0.00
Collateral Available Finance Charge Collections 673,012.17
Collateral Interest Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 68,750.00
Unpaid Collateral Interest Monthly Servicing Fee 0.00
Excess Spread from Collateral Available Finance Charge
Collections 604,262.17
Total Excess Spread 1,443,813.32
Excess Spread used to satisfy Class A Required Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A
Monthly Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class A Covered
Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class A Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class B Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Covered Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Shared Finance Charges used to satisfy remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid 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" #4) 0.00
Remaining unpaid interest on overdue Class A 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #4) 0.00
Remaining unpaid interest on overdue Class B 0.00
Excess Spread used to satisfy unreimbursed reductions to Class B
Investor Interest from prior periods 0.00
Unpaid unreimbursed reductions to Class B Investor Interest
from prior periods 0.00
Excess Spread used to pay Collateral Monthly Interest 185,283.33
Remaining unpaid Collateral Monthly Interest 0.00
Excess Spread used to satisfy excess of Class A Monthly
Interest over Class A Monthly Cap Rate (other than Class A
Excess Interest) 0.00
Remaining excess of Class A Monthly Interest over Class A
Monthly Cap Rate (other than Class A Excess Interest) 0.00
Excess Spread used to satisfy excess of Class B Monthly Interest
over Class B Monthly Cap Rate (other than Class B Excess Interest) 0.00
Remaining excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Excess Spread used to satisfy Collateral Default Amount 277,798.36
Remaining Collateral Default Amount 0.00
Excess Spread used to satisfy unreimbursed reductions to
Collateral Investor Interest from prior periods 0.00
Remaining unreimbursed reductions to Collateral Investor
Interest from prior periods 0.00
Excess Spread used to fund Reserve Account up to Required
Reserve Account Amount 0.00
Remaining amount to fund Reserve Account up to Required
Reserve Account Amount 0.00
Excess Spread used to satisfy amounts per Loan Agreement 0.00
Remaining unfunded amount to pay amounts 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
Excess Spread used for Shared Finance Charge Collections
for Other Series 0.00
Excess Spread used to pay other accrued and unpaid expenses
of the Trust 0.00
Excess Spread paid to Holder of Exchangeable Seller
Certificate (dollars) 980,731.63
Excess Spread paid to Holder of Exchangeable Seller Certificate
(percentage of Investor Interest) 2.35%
Shared Finance Charge Collections used to pay any remaining
Collateral Interest Monthly Servicing Fee 0.00
Shared Finance Charge Collections used to reimburse reductions
to Class B Investor Interest 0.00
Shared Finance Charge Collections used to pay any unpaid
Collateral Monthly Interest 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class A Monthly Interest over Class A Monthly
Cap (other than Class A Excess Interest) 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Shared Finance Charge Collections used to pay remaining
Collateral Interest Defaults 0.00
Shared Finance Charge Collections used to reimburse reductions
to Collateral Investor Interest 0.00
Shared Finance Charge Collections used to pay any remaining
amount to fund up Reserve Account 0.00
Shared Finance Charge Collections used to satisfy amounts
per Loan Agreement 0.00
Shared Finance Charge Collections paid to Holder of
Exchangeable Seller Certificate 0.00
Unpaid unreimbursed Class A Charge Offs 0.00
Unpaid unreimbursed Class A Charge Offs per $1,000 Original
Investment 0.00
Unpaid unreimbursed Class B Charge Offs 0.00
Unpaid unreimbursed Class B Charge Offs per $1,000 Original
Investment 0.00
Available Investor Principal Collections 61,618,776.03
Available Investor Principal Collections plus Draws from
Shared Principal Collections 61,618,776.03
Class A Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Class B Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Collateral Monthly Principal
(See "Collateral Interest Amount Activity" #8) 0.00
Monthly Principal Reinvested In Receivables (includes
Investor Default amounts)
(See "Calculation of Monthly Principal" #5) 61,618,776.03
(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
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 2,580,222.22
Total Distribution to Class A Investors per $1,000
Invested 6.07
Total Distribution to Class B Investors 210,900.00
Total Distribution to Class B Investors per $1,000
Invested 6.25
Total Distribution to Collateral Interest Holders 185,283.33
Total Distribution to Collateral Interest Holders per
$1,000 Invested 4.49
3. Principal Funding Account and Reserve Account
Beginning Balance of Principal Funding Account 0.00
Deposits into Principal Funding Account 0.00
Withdrawals from Principal Funding Account 0.00
Ending Balance of Principal Funding Account 0.00
Accumulation Shortfall 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Beginning Balance of Reserve Account 0.00
Available Reserve Account Amount 0.00
Reserve Account Funding Date N/A
Starting Month to Fund Reserve Account N/A
Required Reserve Account Amount 0.00
Reserve Account Investment Proceeds 0.00
Deposit from Excess Spread into Reserve Account 0.00
Reserve Account Draws 0.00
Ending Balance of Reserve Account 0.00
Percent Reserve Account to Total Initial Class A Interest 0.00%
Percent Required Reserve Account to Total Initial Class A Interest 0.00%
4. Calculation of Certificate Interest
Class A Certificate Rate 6.83000%
Class A Cap Rate 10.12000%
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class A Covered Amount 0.00
Overdue Class A Covered Amount 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Reserve Account Draws 0.00
Class A Investor Certificate Interest Shortfall 0.00
Class A Monthly Cap Rate Interest 2,580,222.22
Class A Monthly Interest 2,580,222.22
Expected Class A Principal 425,000,000.00
Class A Excess Principal 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 2,580,222.22
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 6.07
Class B Certificate Rate 7.03000%
Class B Cap Rate 10.32000%
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Monthly Cap Rate Interest 210,900.00
Class B Monthly Interest 210,900.00
Expected Class B Principal 33,750,000.00
Class B Excess Principal 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 210,900.00
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 6.25
Total Certificate Interest Distributable to Class A and
Class B Certificateholders 2,791,122.22
Total Certificate Interest Distributable per $1,000 of
Original Investment to Class A and Class B Certificateholders 6.08
5. Calculation of Monthly Principal
Beginning Investor Interest 500,000,000.00
Beginning Class A Investor Interest 425,000,000.00
Class A Monthly Principal 0.00
Controlled Deposit Amount 0.00
Controlled Accumulation Amount 0.00
Total Class A Monthly Principal Payable to Class A
Certificates 0.00
Ending Class A Investor Interest 425,000,000.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Investor Interest 33,750,000.00
Class B Monthly Principal 0.00
Reallocated Class B Investor Interest this period 0.00
Cumulative Reallocated Class B Investor Interest 0.00
Previously Reallocated Class B Investor Interest reimbursed
this period by Excess Spread and Shared Finance Charge
Collections 0.00
Total Class B Monthly Principal Payable to Class B Certificates 0.00
Ending Class B Investor Interest 33,750,000.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Monthly Principal Reinvested in Receivables 61,618,776.03
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
Ending Investor Interest 500,000,000.00
6. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
7. Calculation of Monthly Servicing Fee
Servicing Fee Percentage 2.00%
Beginning Balance Class A Adjusted Investor Interest 425,000,000.00
Beginning Class B Investor Interest 33,750,000.00
Beginning Collateral Investor Interest 41,250,000.00
Class A Monthly Servicing Fee 708,333.33
Class B Monthly Servicing Fee 56,250.00
Collateral Interest Monthly Servicing Fee 68,750.00
Total Monthly Servicing Fee 833,333.33
8. Collateral Interest Amount Activity
Beginning Collateral Interest 41,250,000.00
Required Collateral Interest Amount 41,250,000.00
Collateral Interest Surplus 0.00
Collateral Monthly Interest 185,283.33
Collateral Monthly Principal 0.00
Reallocated Collateral Interest this period 0.00
Cumulative Reallocated Collateral Interest 0.00
Previously Reallocated Collateral Interest reimbursed this
period by Excess Spread and Shared Finance Charge Collections 0.00
Collateral Monthly Principal Payable per $1,000 of
Original Investment 0.00
Collateral Interest Monthly Interest Payable per $1,000 of
Original Investment 4.49
Ending Collateral Interest 41,250,000.00
Collateral Default Amount this period 277,798.36
Aggregate uncovered Collateral Default Amount 0.00
Available Collateral Interest Amount (Dollars) 41,250,000.00
Available Collateral Interest Amount (Percentage) 100.00%
Ratio of Collateral Interest to Investor Interest 8.25%
9. Past Due Statistics
(past due on a contractual basis)
1-29 days past due Dollars 124,514,251.61
Percent Dollars 4.72%
Number of Accts 32,934
Percent Number of Accts 1.44%
30-59 days past due Dollars 38,624,864.88
Percent Dollars 1.47%
Number of Accts 8,301
Percent Number of Accts 0.36%
60-89 days past due Dollars 30,176,720.10
Percent Dollars 1.15%
Number of Accts 5,771
Percent Number of Accts 0.25%
90-119 days past due Dollars 25,251,366.68
Percent Dollars 0.96%
Number of Accts 4,557
Percent Number of Accts 0.20%
120-149 days past due Dollars 19,845,517.32
Percent Dollars 0.75%
Number of Accts 3,402
Percent Number of Accts 0.15%
150+ days past due Dollars 17,458,512.46
Percent Dollars 0.66%
Number of Accts 2,905
Percent Number of Accts 0.13%
10. Base Rate Calculation
Gross Yield 19.58%
Percentage on Defaulted Accounts 8.08%
Portfolio Yield (net of losses) 11.50%
Base Rate 8.70%
Excess of Portfolio Yield over Base Rate 2.80%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Expired Removed Accounts 46,827
Number of Removed Accounts 0
Number of Automatic Additonal Accounts 6
Ending Number of Accounts 2,290,632
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1997-2
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 40
Monthly Period Ended December 31, 2000
Distribution Date January 16, 2001
Determination Date January 10, 2001
Number of Days in Period 32
1. Trust Activity Series 1997-2
Beginning of Month - Aggregate Principal Receivables 2,630,300,305.23
Principal Collections on the Receivables 306,437,998.64
Finance Charge Collections 42,914,524.29
Receivables in Defaulted Accounts 17,713,772.15
End of Month - Aggregate Principal Receivables 2,635,227,162.04
Investor Interest Series 1996-1 345,857,142.86
Investor Interest Series 1997-1 500,000,000.00
Investor Interest Series 1997-2 500,000,000.00
Investor Interest Series 1998-1 400,000,000.00
Investor Interest Series 1999-1 400,000,000.00
Seller Principal Receivables 489,370,019.18
Adjusted Investor Interest Series 1997-2 500,000,000.00
Class A Adjusted Investor Interest 425,000,000.00
Class B Investor Interest 33,750,000.00
Collateral Interest 41,250,000.00
Total Investor Percentage with respect to...
Finance Charges 18.9736964%
Charged-Off Accounts 18.9736964%
Principal Receivables 18.9736964%
Class A Percentage with respect to...
Finance Charges 16.1276419%
Charged-Off Accounts 16.1276419%
Principal Receivables 16.1276419%
Class B Percentage with respect to...
Finance Charges 1.2807245%
Charged-Off Accounts 1.2807245%
Principal Receivables 1.2807245%
Collateral Interest Percentage with respect to...
Finance Charges 1.5653299%
Charged-Off Accounts 1.5653299%
Principal Receivables 1.5653299%
Seller Percentage with respect to...
Finance Charges 18.5703163%
Charged-Off Accounts 18.5703163%
Principal Receivables 16.5157360%
Discount Option Exercised N/A
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 6,934,064.82
Class A Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 2,584,000.00
Unpaid Class A Monthly Cap Rate Interest 0.00
Class A Covered Amount
(See "Calculation of Certificate Interest" #4) 0.00
Unpaid Class A Covered Amount 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 708,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,862,164.88
Unpaid Class A Investor Default Amount 0.00
Unreimbursed Class A Investor Charge-offs 0.00
Unpaid unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Available Funds 779,566.61
Class A Required Amount 0.00
Class B Available Finance Charge Collections 550,646.32
Class B Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 211,200.00
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 56,250.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 227,289.56
Unpaid Class B Investor Default Amount 0.00
Unreimbursed Class B Investor Charge-offs 0.00
Unpaid unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Available Funds 55,906.76
Class B Required Amount 0.00
Collateral Available Finance Charge Collections 673,012.17
Collateral Interest Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 68,750.00
Unpaid Collateral Interest Monthly Servicing Fee 0.00
Excess Spread from Collateral Available Finance Charge
Collections 604,262.17
Total Excess Spread 1,439,735.54
Excess Spread used to satisfy Class A Required Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A
Monthly Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class A Covered
Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class A Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class B Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Covered Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Shared Finance Charges used to satisfy remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid 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" #4) 0.00
Remaining unpaid interest on overdue Class A 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #4) 0.00
Remaining unpaid interest on overdue Class B 0.00
Excess Spread used to satisfy unreimbursed reductions to Class B
Investor Interest from prior periods 0.00
Unpaid unreimbursed reductions to Class B Investor Interest
from prior periods 0.00
Excess Spread used to pay Collateral Monthly Interest 200,000.00
Remaining unpaid Collateral Monthly Interest 0.00
Excess Spread used to satisfy excess of Class A Monthly
Interest over Class A Monthly Cap Rate (other than Class A
Excess Interest) 0.00
Remaining excess of Class A Monthly Interest over Class A
Monthly Cap Rate (other than Class A Excess Interest) 0.00
Excess Spread used to satisfy excess of Class B Monthly Interest
over Class B Monthly Cap Rate (other than Class B Excess Interest) 0.00
Remaining excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Excess Spread used to satisfy Collateral Default Amount 277,798.36
Remaining Collateral Default Amount 0.00
Excess Spread used to satisfy unreimbursed reductions to
Collateral Investor Interest from prior periods 0.00
Remaining unreimbursed reductions to Collateral Investor
Interest from prior periods 0.00
Excess Spread used to fund Reserve Account up to Required
Reserve Account Amount 0.00
Remaining amount to fund Reserve Account up to Required
Reserve Account Amount 0.00
Excess Spread used to satisfy amounts per Loan Agreement 0.00
Remaining unfunded amount to pay amounts 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
Excess Spread used for Shared Finance Charge Collections
for Other Series 0.00
Excess Spread used to pay other accrued and unpaid expenses
of the Trust 0.00
Excess Spread paid to Holder of Exchangeable Seller
Certificate (dollars) 961,937.18
Excess Spread paid to Holder of Exchangeable Seller Certificate
(percentage of Investor Interest) 2.31%
Shared Finance Charge Collections used to pay any remaining
Collateral Interest Monthly Servicing Fee 0.00
Shared Finance Charge Collections used to reimburse reductions
to Class B Investor Interest 0.00
Shared Finance Charge Collections used to pay any unpaid
Collateral Monthly Interest 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class A Monthly Interest over Class A Monthly
Cap (other than Class A Excess Interest) 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Shared Finance Charge Collections used to pay remaining
Collateral Interest Defaults 0.00
Shared Finance Charge Collections used to reimburse reductions
to Collateral Investor Interest 0.00
Shared Finance Charge Collections used to pay any remaining
amount to fund up Reserve Account 0.00
Shared Finance Charge Collections used to satisfy amounts
per Loan Agreement 0.00
Shared Finance Charge Collections paid to Holder of
Exchangeable Seller Certificate 0.00
Unpaid unreimbursed Class A Charge Offs 0.00
Unpaid unreimbursed Class A Charge Offs per $1,000 Original
Investment 0.00
Unpaid unreimbursed Class B Charge Offs 0.00
Unpaid unreimbursed Class B Charge Offs per $1,000 Original
Investment 0.00
Available Investor Principal Collections 61,618,776.03
Available Investor Principal Collections plus Draws from
Shared Principal Collections 61,618,776.03
Class A Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Class B Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Collateral Monthly Principal
(See "Collateral Interest Amount Activity" #8) 0.00
Monthly Principal Reinvested In Receivables (includes
Investor Default amounts)
(See "Calculation of Monthly Principal" #5) 61,618,776.03
(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
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 2,584,000.00
Total Distribution to Class A Investors per $1,000
Invested 6.08
Total Distribution to Class B Investors 211,200.00
Total Distribution to Class B Investors per $1,000
Invested 6.26
Total Distribution to Collateral Interest Holders 200,000.00
Total Distribution to Collateral Interest Holders per
$1,000 Invested 4.85
3. Principal Funding Account and Reserve Account
Beginning Balance of Principal Funding Account 0.00
Deposits into Principal Funding Account 0.00
Withdrawals from Principal Funding Account 0.00
Ending Balance of Principal Funding Account 0.00
Accumulation Shortfall 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Beginning Balance of Reserve Account 0.00
Available Reserve Account Amount 0.00
Reserve Account Funding Date N/A
Starting Month to Fund Reserve Account N/A
Required Reserve Account Amount 0.00
Reserve Account Investment Proceeds 0.00
Deposit from Excess Spread into Reserve Account 0.00
Reserve Account Draws 0.00
Ending Balance of Reserve Account 0.00
Percent Reserve Account to Total Initial Class A Interest 0.00%
Percent Required Reserve Account to Total Initial Class A Interest 0.00%
4. Calculation of Certificate Interest
Class A Certificate Rate 6.84000%
Class A Cap Rate 10.13000%
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class A Covered Amount 0.00
Overdue Class A Covered Amount 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Reserve Account Draws 0.00
Class A Investor Certificate Interest Shortfall 0.00
Class A Monthly Cap Rate Interest 2,584,000.00
Class A Monthly Interest 2,584,000.00
Expected Class A Principal 425,000,000.00
Class A Excess Principal 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 2,584,000.00
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 6.08
Class B Certificate Rate 7.04000%
Class B Cap Rate 10.33000%
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Monthly Cap Rate Interest 211,200.00
Class B Monthly Interest 211,200.00
Expected Class B Principal 33,750,000.00
Class B Excess Principal 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 211,200.00
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 6.26
Total Certificate Interest Distributable to Class A and
Class B Certificateholders 2,795,200.00
Total Certificate Interest Distributable per $1,000 of
Original Investment to Class A and Class B
Certificateholders 6.09
5. Calculation of Monthly Principal
Beginning Investor Interest 500,000,000.00
Beginning Class A Investor Interest 425,000,000.00
Class A Monthly Principal 0.00
Controlled Deposit Amount 0.00
Controlled Accumulation Amount 0.00
Total Class A Monthly Principal Payable to Class A
Certificates 0.00
Ending Class A Investor Interest 425,000,000.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Investor Interest 33,750,000.00
Class B Monthly Principal 0.00
Reallocated Class B Investor Interest this period 0.00
Cumulative Reallocated Class B Investor Interest 0.00
Previously Reallocated Class B Investor Interest reimbursed
this period by Excess Spread and Shared Finance Charge
Collections 0.00
Total Class B Monthly Principal Payable to Class B Certificates 0.00
Ending Class B Investor Interest 33,750,000.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Monthly Principal Reinvested in Receivables 61,618,776.03
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
Ending Investor Interest 500,000,000.00
6. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
7. Calculation of Monthly Servicing Fee
Servicing Fee Percentage 2.00%
Beginning Balance Class A Adjusted Investor Interest 425,000,000.00
Beginning Class B Investor Interest 33,750,000.00
Beginning Collateral Investor Interest 41,250,000.00
Class A Monthly Servicing Fee 708,333.33
Class B Monthly Servicing Fee 56,250.00
Collateral Interest Monthly Servicing Fee 68,750.00
Total Monthly Servicing Fee 833,333.33
8. Collateral Interest Amount Activity
Beginning Collateral Interest 41,250,000.00
Required Collateral Interest Amount 41,250,000.00
Collateral Interest Surplus 0.00
Collateral Monthly Interest 200,000.00
Collateral Monthly Principal 0.00
Reallocated Collateral Interest this period 0.00
Cumulative Reallocated Collateral Interest 0.00
Previously Reallocated Collateral Interest reimbursed this
period by Excess Spread and Shared Finance Charge
Collections 0.00
Collateral Monthly Principal Payable per $1,000 of
Original Investment 0.00
Collateral Interest Monthly Interest Payable per $1,000 of
Original Investment 4.85
Ending Collateral Interest 41,250,000.00
Collateral Default Amount this period 277,798.36
Aggregate uncovered Collateral Default Amount 0.00
Available Collateral Interest Amount (Dollars) 41,250,000.00
Available Collateral Interest Amount (Percentage) 100.00%
Ratio of Collateral Interest to Investor Interest 8.25%
9. Past Due Statistics
(past due on a contractual basis)
1-29 days past due Dollars 124,514,251.61
Percent Dollars 4.72%
Number of Accts 32,934
Percent Number of Accts 1.44%
30-59 days past due Dollars 38,624,864.88
Percent Dollars 1.47%
Number of Accts 8,301
Percent Number of Accts 0.36%
60-89 days past due Dollars 30,176,720.10
Percent Dollars 1.15%
Number of Accts 5,771
Percent Number of Accts 0.25%
90-119 days past due Dollars 25,251,366.68
Percent Dollars 0.96%
Number of Accts 4,557
Percent Number of Accts 0.20%
120-149 days past due Dollars 19,845,517.32
Percent Dollars 0.75%
Number of Accts 3,402
Percent Number of Accts 0.15%
150+ days past due Dollars 17,458,512.46
Percent Dollars 0.66%
Number of Accts 2,905
Percent Number of Accts 0.13%
10. Base Rate Calculation
Gross Yield 19.58%
Percentage on Defaulted Accounts 8.08%
Portfolio Yield (net of losses) 11.50%
Base Rate 8.74%
Excess of Portfolio over Base Rate 2.76%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Expired Removed Accounts 46,827
Number of Removed Accounts 0
Number of Automatic Additional Accounts 6
Ending Number of Accounts 2,290,632
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1998-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 33
Monthly Period Ended December 31, 2000
Distribution Date January 16, 2001
Determination Date January 10, 2001
Number of Days in Period 32
1. Trust Activity Series 1998-1
Beginning of Month - Aggregate Principal Receivables 2,630,300,305.23
Principal Collections on the Receivables 306,437,998.64
Finance Charge Collections 42,914,524.29
Receivables in Defaulted Accounts 17,713,772.15
End of Month - Aggregate Principal Receivables 2,635,227,162.04
Investor Interest Series 1996-1 345,857,142.86
Investor Interest Series 1997-1 500,000,000.00
Investor Interest Series 1997-2 500,000,000.00
Investor Interest Series 1998-1 400,000,000.00
Investor Interest Series 1999-1 400,000,000.00
Seller Principal Receivables 489,370,019.18
Adjusted Investor Interest Series 1998-1 400,000,000.00
Class A Adjusted Investor Interest 343,000,000.00
Class B Investor Interest 27,000,000.00
Collateral Interest 30,000,000.00
Total Investor Percentage with respect to...
Finance Charges 15.1789571%
Charged-Off Accounts 15.1789571%
Principal Receivables 15.1789571%
Class A Percentage with respect to...
Finance Charges 13.0159557%
Charged-Off Accounts 13.0159557%
Principal Receivables 13.0159557%
Class B Percentage with respect to...
Finance Charges 1.0245796%
Charged-Off Accounts 1.0245796%
Principal Receivables 1.0245796%
Collateral Interest Percentage with respect to...
Finance Charges 1.1384218%
Charged-Off Accounts 1.1384218%
Principal Receivables 1.1384218%
Seller Percentage with respect to...
Finance Charges 18.5703163%
Charged-Off Accounts 18.5703163%
Principal Receivables 16.5157360%
Discount Option Exercised N/A
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,596,198.20
Class A Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 2,088,488.89
Unpaid Class A Monthly Cap Rate Interest 0.00
Class A Covered Amount
(See "Calculation of Certificate Interest" #4) 0.00
Unpaid Class A Covered Amount 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 571,666.67
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,309,935.42
Unpaid Class A Investor Default Amount 0.00
Unreimbursed Class A Investor Charge-offs 0.00
Unpaid unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Available Funds 626,107.22
Class A Required Amount 0.00
Class B Available Finance Charge Collections 440,517.06
Class B Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 169,200.00
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 45,000.00
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 181,831.65
Unpaid Class B Investor Default Amount 0.00
Unreimbursed Class B Investor Charge-offs 0.00
Unpaid unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Available Funds 44,485.41
Class B Required Amount 0.00
Collateral Available Finance Charge Collections 489,463.40
Collateral Interest Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 50,000.00
Unpaid Collateral Interest Monthly Servicing Fee 0.00
Excess Spread from Collateral Available Finance Charge
Collections 439,463.40
Total Excess Spread 1,110,056.03
Excess Spread used to satisfy Class A Required Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A
Monthly Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class A Covered
Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class A Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class B Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Covered Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Shared Finance Charges used to satisfy remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid 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" #4) 0.00
Remaining unpaid interest on overdue Class A 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #4) 0.00
Remaining unpaid interest on overdue Class A 0.00
Excess Spread used to satisfy unreimbursed reductions to Class B
Investor Interest from prior periods 0.00
Unpaid unreimbursed reductions to Class B Investor Interest
from prior periods 0.00
Excess Spread used to pay Collateral Monthly Interest 128,177.78
Remaining unpaid Collateral Monthly Interest 0.00
Excess Spread used to satisfy excess of Class A Monthly
Interest over Class A Monthly Cap Rate (other than Class A
Excess Interest) 0.00
Remaining excess of Class A Monthly Interest over Class A
Monthly Cap Rate (other than Class A Excess Interest) 0.00
Excess Spread used to satisfy excess of Class B Monthly Interest
over Class B Monthly Cap Rate (other than Class B Excess Interest) 0.00
Remaining excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Excess Spread used to satisfy Collateral Default Amount 202,035.17
Remaining Collateral Default Amount 0.00
Excess Spread used to satisfy unreimbursed reductions to
Collateral Investor Interest from prior periods 0.00
Remaining unreimbursed reductions to Collateral Investor
Interest from prior periods 0.00
Excess Spread used to fund Reserve Account up to Required
Reserve Account Amount 0.00
Remaining amount to fund Reserve Account up to Required
Reserve Account Amount 0.00
Excess Spread used to satisfy amounts per Loan Agreement 0.00
Remaining unfunded amount to pay amounts 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
Excess Spread used for Shared Finance Charge Collections
for Other Series 0.00
Excess Spread used to pay other accrued and unpaid expenses
of the Trust 0.00
Excess Spread paid to Holder of Exchangeable Seller
Certificate (dollars) 779,843.08
Excess Spread paid to Holder of Exchangeable Seller Certificate
(percentage of Investor Interest) 2.34%
Shared Finance Charge Collections used to pay any remaining
Collateral Interest Monthly Servicing Fee 0.00
Shared Finance Charge Collections used to reimburse reductions
to Class B Investor Interest 0.00
Shared Finance Charge Collections used to pay any unpaid
Collateral Monthly Interest 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class A Monthly Interest over Class A Monthly
Cap (other than Class A Excess Interest) 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Shared Finance Charge Collections used to pay remaining
Collateral Interest Defaults 0.00
Shared Finance Charge Collections used to reimburse reductions
to Collateral Investor Interest 0.00
Shared Finance Charge Collections used to pay any remaining
amount to fund up Reserve Account 0.00
Shared Finance Charge Collections used to satisfy amounts
per Loan Agreement 0.00
Shared Finance Charge Collections paid to Holder of
Exchangeable Seller Certificate 0.00
Unpaid unreimbursed Class A Charge Offs 0.00
Unpaid unreimbursed Class A Charge Offs per $1,000 Original
Investment 0.00
Unpaid unreimbursed Class B Charge Offs 0.00
Unpaid unreimbursed Class B Charge Offs per $1,000 Original
Investment 0.00
Available Investor Principal Collections 49,295,020.82
Available Investor Principal Collections plus Draws from
Shared Principal Collections 49,295,020.82
Class A Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Class B Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Collateral Monthly Principal
(See "Collateral Interest Amount Activity" #8) 0.00
Monthly Principal Reinvested In Receivables (includes
Investor Default amounts)
(See "Calculation of Monthly Principal" #5) 49,295,020.82
(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
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 2,088,488.89
Total Distribution to Class A Investors per $1,000
Invested 6.09
Total Distribution to Class B Investors 169,200.00
Total Distribution to Class B Investors per $1,000
Invested 6.27
Total Distribution to Collateral Interest Holders 128,177.78
Total Distribution to Collateral Interest Holders per
$1,000 Invested 4.27
3. Principal Funding Account and Reserve Account
Beginning Balance of Principal Funding Account 0.00
Deposits into Principal Funding Account 0.00
Withdrawals from Principal Funding Account 0.00
Ending Balance of Principal Funding Account 0.00
Accumulation Shortfall 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Beginning Balance of Reserve Account 0.00
Available Reserve Account Amount 0.00
Reserve Account Funding Date N/A
Starting Month to Fund Reserve Account N/A
Required Reserve Account Amount 0.00
Reserve Account Investment Proceeds 0.00
Deposit from Excess Spread into Reserve Account 0.00
Reserve Account Draws 0.00
Ending Balance of Reserve Account 0.00
Percent Reserve Account to Total Initial Class A Interest 0.00%
Percent Required Reserve Account to Total Initial Class A Interest 0.00%
4. Calculation of Certificate Interest
Class A Certificate Rate 6.85000%
Class A Cap Rate 9.14000%
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class A Covered Amount 0.00
Overdue Class A Covered Amount 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Reserve Account Draws 0.00
Class A Investor Certificate Interest Shortfall 0.00
Class A Monthly Cap Rate Interest 2,088,488.89
Class A Monthly Interest 2,088,488.89
Expected Class A Principal 343,000,000.00
Class A Excess Principal 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 2,088,488.89
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 6.09
Class B Certificate Rate 7.05000%
Class B Cap Rate 9.34000%
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Monthly Cap Rate Interest 169,200.00
Class B Monthly Interest 169,200.00
Expected Class B Principal 27,000,000.00
Class B Excess Principal 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 169,200.00
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 6.27
Total Certificate Interest Distributable to Class A and
Class B Certificateholders 2,257,688.89
Total Certificate Interest Distributable per $1,000 of
Original Investment to Class A and Class B
Certificateholders 6.10
5. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Investor Interest 343,000,000.00
Class A Monthly Principal 0.00
Controlled Deposit Amount 0.00
Controlled Accumulation Amount 0.00
Total Class A Monthly Principal Payable to Class A
Certificates 0.00
Ending Class A Investor Interest 343,000,000.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Investor Interest 27,000,000.00
Class B Monthly Principal 0.00
Reallocated Class B Investor Interest this period 0.00
Cumulative Reallocated Class B Investor Interest 0.00
Previously Reallocated Class B Investor Interest reimbursed
this period by Excess Spread and Shared Finance Charge
Collections 0.00
Total Class B Monthly Principal Payable to Class B Certificates 0.00
Ending Class B Investor Interest 27,000,000.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Monthly Principal Reinvested in Receivables 49,295,020.82
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
Ending Investor Interest 400,000,000.00
6. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
7. Calculation of Monthly Servicing Fee
Servicing Fee Percentage 2.00%
Beginning Balance Class A Adjusted Investor Interest 343,000,000.00
Beginning Class B Investor Interest 27,000,000.00
Beginning Collateral Investor Interest 30,000,000.00
Class A Monthly Servicing Fee 571,666.67
Class B Monthly Servicing Fee 45,000.00
Collateral Interest Monthly Servicing Fee 50,000.00
Total Monthly Servicing Fee 666,666.67
8. Collateral Interest Amount Activity
Beginning Collateral Interest 30,000,000.00
Required Collateral Interest Amount 30,000,000.00
Collateral Interest Surplus 0.00
Collateral Monthly Interest 128,177.78
Collateral Monthly Principal 0.00
Reallocated Collateral Interest this period 0.00
Cumulative Reallocated Collateral Interest 0.00
Previously Reallocated Collateral Interest reimbursed this
period by Excess Spread and Shared Finance Charge
Collections 0.00
Collateral Monthly Principal Payable per $1,000 of
Original Investment 0.00
Collateral Interest Monthly Interest Payable per $1,000 of
Original Investment 4.27
Ending Collateral Interest 30,000,000.00
Collateral Default Amount this period 202,035.17
Aggregate uncovered Collateral Default Amount 0.00
Available Collateral Interest Amount (Dollars) 30,000,000.00
Available Collateral Interest Amount (Percentage) 100.00%
Ratio of Collateral Interest to Investor Interest 7.50%
9. Past Due Statistics
(past due on a contractual basis)
1-29 days past due Dollars 124,514,251.61
Percent Dollars 4.72%
Number of Accts 32,934
Percent Number of Accts 1.44%
30-59 days past due Dollars 38,624,864.88
Percent Dollars 1.47%
Number of Accts 8,301
Percent Number of Accts 0.36%
60-89 days past due Dollars 30,176,720.10
Percent Dollars 1.15%
Number of Accts 5,771
Percent Number of Accts 0.25%
90-119 days past due Dollars 25,251,366.68
Percent Dollars 0.96%
Number of Accts 4,557
Percent Number of Accts 0.20%
120-149 days past due Dollars 19,845,517.32
Percent Dollars 0.75%
Number of Accts 3,402
Percent Number of Accts 0.15%
150+ days past due Dollars 17,458,512.46
Percent Dollars 0.66%
Number of Accts 2,905
Percent Number of Accts 0.13%
10. Base Rate Calculation
Gross Yield 19.58%
Percentage on Defaulted Accounts 8.08%
Portfolio Yield (net of losses) 11.50%
Base Rate 8.71%
Excess of Portfolio over Base Rate 2.79%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Expired Removed Accounts 46,827
Number of Removed Accounts 0
Number of Automatic Additional Accounts 6
Ending Number of Accounts 2,290,632
PEOPLE'S BANK CREDIT CARD MASTER TRUST SERIES 1999-1
MONTHLY SERVICER'S REPORT
Number of Months Series in Existence 16
Monthly Period Ended December 31, 2000
Distribution Date January 16, 2001
Determination Date January 10, 2001
Number of Days in Period 32
1. Trust Activity Series 1999-1
Beginning of Month - Aggregate Principal Receivables 2,630,300,305.23
Principal Collections on the Receivables 306,437,998.64
Finance Charge Collections 42,914,524.29
Receivables in Defaulted Accounts 17,713,772.15
End of Month - Aggregate Principal Receivables 2,635,227,162.04
Investor Interest Series 1996-1 345,857,142.86
Investor Interest Series 1997-1 500,000,000.00
Investor Interest Series 1997-2 500,000,000.00
Investor Interest Series 1998-1 400,000,000.00
Investor Interest Series 1999-1 400,000,000.00
Seller Principal Receivables 489,370,019.18
Adjusted Investor Interest Series 1999-1 400,000,000.00
Class A Adjusted Investor Interest 338,000,000.00
Class B Investor Interest 29,000,000.00
Collateral Interest 33,000,000.00
Total Investor Percentage with respect to...
Finance Charges 15.1789571%
Charged-Off Accounts 15.1789571%
Principal Receivables 15.1789571%
Class A Percentage with respect to...
Finance Charges 12.8262187%
Charged-Off Accounts 12.8262187%
Principal Receivables 12.8262187%
Class B Percentage with respect to...
Finance Charges 1.1004744%
Charged-Off Accounts 1.1004744%
Principal Receivables 1.1004744%
Collateral Interest Percentage with respect to...
Finance Charges 1.2522640%
Charged-Off Accounts 1.2522640%
Principal Receivables 1.2522640%
Seller Percentage with respect to...
Finance Charges 18.5703163%
Charged-Off Accounts 18.5703163%
Principal Receivables 16.5157360%
Discount Option Exercised N/A
2. Allocation of Funds in Collection Account
Class A Available Finance Charge Collections 5,514,620.97
Class A Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 2,103,111.11
Unpaid Class A Monthly Cap Rate Interest 0.00
Class A Covered Amount
(See "Calculation of Certificate Interest" #4) 0.00
Unpaid Class A Covered Amount 0.00
Class A Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 563,333.33
Unpaid Class A Monthly Servicing Fee 0.00
Class A Investor Default Amount 2,276,262.89
Unpaid Class A Investor Default Amount 0.00
Unreimbursed Class A Investor Charge-offs 0.00
Unpaid unreimbursed Class A Investor Charge-offs 0.00
Excess Spread from Class A Available Funds 571,913.64
Class A Required Amount 0.00
Class B Available Finance Charge Collections 473,147.95
Class B Monthly Cap Rate Interest
(See "Calculation of Certificate Interest" #4) 187,920.00
Unpaid Class B Monthly Cap Interest 0.00
Class B Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 48,333.33
Unpaid Class B Monthly Servicing Fee 0.00
Class B Investor Default Amount 195,300.66
Unpaid Class B Investor Default Amount 0.00
Unreimbursed Class B Investor Charge-offs 0.00
Unpaid unreimbursed Class B Investor Charge-offs 0.00
Excess Spread from Class B Available Funds 41,593.96
Class B Required Amount 0.00
Collateral Available Finance Charge Collections 538,409.74
Collateral Interest Monthly Servicing Fee
(See "Calculation of Monthly Servicing Fee" #7) 55,000.00
Unpaid Collateral Interest Monthly Servicing Fee 0.00
Excess Spread from Collateral Available Finance Charge
Collections 483,409.74
Total Excess Spread 1,096,917.34
Excess Spread used to satisfy Class A Required Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A
Monthly Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class A Covered
Amount 0.00
Excess Spread used to satisfy remaining unpaid Class A Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class A Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class B Monthly
Cap Interest 0.00
Excess Spread used to satisfy remaining unpaid Class B Monthly
Servicing Fee 0.00
Excess Spread used to satisfy remaining unpaid Class B Investor
Default Amount 0.00
Excess Spread used to satisfy remaining unpaid 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 remaining unpaid Class A
Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Covered Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid Class A
Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Principal Collections used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining Class A Required Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Cap Interest 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Covered Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Monthly Servicing Fee 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid Class A Investor Default Amount 0.00
Reallocated Class B Investor Interest used to satisfy
remaining unpaid unreimbursed Class A Investor Charge-offs 0.00
Remaining Class A Required Amount 0.00
Shared Finance Charges used to satisfy remaining Class B
Required Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Cap Interest 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Monthly Servicing Fee 0.00
Shared Finance Charges used to satisfy remaining unpaid
Class B Investor Default Amount 0.00
Shared Finance Charges used to satisfy remaining unpaid
unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Principal Collections used to satisfy
remaining unpaid unreimbursed Class B Investor Charge-offs 0.00
Remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining Class B Required Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Cap Interest 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Monthly Servicing Fee 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid Class B Investor Default Amount 0.00
Reallocated Collateral Investor Interest used to satisfy
remaining unpaid 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" #4) 0.00
Remaining unpaid interest on overdue Class A 0.00
Excess Spread used to satisfy interest on overdue Class B
(See "Calculation of Certificate Interest" #4) 0.00
Remaining unpaid interest on overdue Class B 0.00
Excess Spread used to satisfy unreimbursed reductions to Class B
Investor Interest from prior periods 0.00
Unpaid unreimbursed reductions to Class B Investor Interest
from prior periods 0.00
Excess Spread used to pay Collateral Monthly Interest 138,626.84
Remaining unpaid Collateral Monthly Interest 0.00
Excess Spread used to satisfy excess of Class A Monthly
Interest over Class A Monthly Cap Rate (other than Class A
Excess Interest) 0.00
Remaining excess of Class A Monthly Interest over Class A
Monthly Cap Rate (other than Class A Excess Interest) 0.00
Excess Spread used to satisfy excess of Class B Monthly Interest
over Class B Monthly Cap Rate (other than Class B Excess Interest) 0.00
Remaining excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Excess Spread used to satisfy Collateral Default Amount 222,238.68
Remaining Collateral Default Amount 0.00
Excess Spread used to satisfy unreimbursed reductions to
Collateral Investor Interest from prior periods 0.00
Remaining unreimbursed reductions to Collateral Investor
Interest from prior periods 0.00
Excess Spread used to fund Reserve Account up to Required
Reserve Account Amount 0.00
Remaining amount to fund Reserve Account up to Required
Reserve Account Amount 0.00
Excess Spread used to satisfy amounts per Loan Agreement 0.00
Remaining unfunded amount to pay amounts 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
Excess Spread used for Shared Finance Charge Collections
for Other Series 0.00
Excess Spread used to pay other accrued and unpaid expenses
of the Trust 0.00
Excess Spread paid to Holder of Exchangeable Seller
Certificate (dollars) 736,051.82
Excess Spread paid to Holder of Exchangeable Seller Certificate
(percentage of Investor Interest) 2.21%
Shared Finance Charge Collections used to pay any remaining
Collateral Interest Monthly Servicing Fee 0.00
Shared Finance Charge Collections used to reimburse reductions
to Class B Investor Interest 0.00
Shared Finance Charge Collections used to pay any unpaid
Collateral Monthly Interest 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class A Monthly Interest over Class A Monthly
Cap Rate (other than Class A Excess Interest) 0.00
Shared Finance Charge Collections used to satisfy remaining
excess of Class B Monthly Interest over Class B Monthly
Cap Rate (other than Class B Excess Interest) 0.00
Shared Finance Charge Collections used to pay remaining
Collateral Interest Defaults 0.00
Shared Finance Charge Collections used to reimburse reductions
to Collateral Investor Interest 0.00
Shared Finance Charge Collections used to pay any remaining
amount to fund up Reserve Account 0.00
Shared Finance Charge Collections used to satisfy amounts
per Loan Agreement 0.00
Shared Finance Charge Collections paid to Holder of
Exchangeable Seller Certificate 0.00
Unpaid unreimbursed Class A Charge Offs 0.00
Unpaid unreimbursed Class A Charge Offs per $1,000 Original
Investment 0.00
Unpaid unreimbursed Class B Charge Offs 0.00
Unpaid unreimbursed Class B Charge Offs per $1,000 Original
Investment 0.00
Available Investor Principal Collections 49,295,020.81
Available Investor Principal Collections plus Draws from
Shared Principal Collections 49,295,020.81
Class A Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Class B Monthly Principal
(See "Calculation of Monthly Principal" #5) 0.00
Collateral Monthly Principal
(See "Collateral Interest Amount Activity" #8) 0.00
Monthly Principal Reinvested In Receivables (includes
Investor Default amounts)
(See "Calculation of Monthly Principal" #5) 49,295,020.81
(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
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 2,103,111.11
Total Distribution to Class A Investors per $1,000
Invested 6.22
Total Distribution to Class B Investors 187,920.00
Total Distribution to Class B Investors per $1,000
Invested 6.48
Total Distribution to Collateral Interest Holders 138,626.84
Total Distribution to Collateral Interest Holders per
$1,000 Invested 4.20
3. Principal Funding Account and Reserve Account
Beginning Balance of Principal Funding Account 0.00
Deposits into Principal Funding Account 0.00
Withdrawals from Principal Funding Account 0.00
Ending Balance of Principal Funding Account 0.00
Accumulation Shortfall 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Beginning Balance of Reserve Account 0.00
Available Reserve Account Amount 0.00
Reserve Account Funding Date N/A
Starting Month to Fund Reserve Account N/A
Required Reserve Account Amount 0.00
Reserve Account Investment Proceeds 0.00
Deposit from Excess Spread into Reserve Account 0.00
Reserve Account Draws 0.00
Ending Balance of Reserve Account 0.00
Percent Reserve Account to Total Initial Class A Interest 0.00%
Percent Required Reserve Account to Total Initial Class A Interest 0.00%
4. Calculation of Certificate Interest
Class A Certificate Rate 7.00000%
Class A Cap Rate 10.29000%
Previous Month's Class A Deficiency Amount 0.00
Class A Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class A Covered Amount 0.00
Overdue Class A Covered Amount 0.00
Principal Funding Investment Proceeds 0.00
Principal Funding Investment Shortfall 0.00
Reserve Account Draws 0.00
Class A Investor Certificate Interest Shortfall 0.00
Class A Monthly Cap Rate Interest 2,103,111.11
Class A Monthly Interest 2,103,111.11
Expected Class A Principal 338,000,000.00
Class A Excess Principal 0.00
Class A Excess Interest 0.00
Total Class A Interest Distributable to Class A
Certificateholders 2,103,111.11
Total Class A Interest Distributable per $1,000 of
Class A Original Investment 6.22
Class B Certificate Rate 7.29000%
Class B Cap Rate 10.58000%
Previous Month's Class B Deficiency Amount 0.00
Class B Interest at the Certificate Rate + 0.5% on
Deficiency Amount 0.00
Class B Investor Certificate Interest Shortfall 0.00
Class B Monthly Cap Rate Interest 187,920.00
Class B Monthly Interest 187,920.00
Expected Class B Principal 29,000,000.00
Class B Excess Principal 0.00
Class B Excess Interest 0.00
Total Class B Interest Distributable to Class B
Certificateholders 187,920.00
Total Class B Interest Distributable per $1,000 of Class B
Original Investment 6.48
Total Certificate Interest Distributable to Class A and
Class B Certificateholders 2,291,031.11
Total Certificate Interest Distributable per $1,000 of
Original Investment to Class A and Class B
Certificateholders 6.24
5. Calculation of Monthly Principal
Beginning Investor Interest 400,000,000.00
Beginning Class A Investor Interest 338,000,000.00
Class A Monthly Principal 0.00
Controlled Deposit Amount 0.00
Controlled Accumulation Amount 0.00
Total Class A Monthly Principal Payable to Class A
Certificates 0.00
Ending Class A Investor Interest 338,000,000.00
Class A Monthly Principal Payable per $1,000 of Original
Investment 0.00
Beginning Class B Investor Interest 29,000,000.00
Class B Monthly Principal 0.00
Reallocated Class B Investor Interest this period 0.00
Cumulative Reallocated Class B Investor Interest 0.00
Previously Reallocated Class B Investor Interest reimbursed
this period by Excess Spread and Shared Finance Charge
Collections 0.00
Total Class B Monthly Principal Payable to Class B Certificates 0.00
Ending Class B Investor Interest 29,000,000.00
Class B Monthly Principal Payable per $1,000 of Original
Investment 0.00
Monthly Principal Reinvested in Receivables 49,295,020.81
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
Ending Investor Interest 400,000,000.00
6. Calculation of Pool Factor
Pool Factor
(Ending Certificate Balance divided by Initial Principal
Amount to 7 decimal places) 1.0000000
7. Calculation of Monthly Servicing Fee
Servicing Fee Percentage 2.00%
Beginning Balance Class A Adjusted Investor Interest 338,000,000.00
Beginning Class B Investor Interest 29,000,000.00
Beginning Collateral Investor Interest 33,000,000.00
Class A Monthly Servicing Fee 563,333.33
Class B Monthly Servicing Fee 48,333.33
Collateral Interest Monthly Servicing Fee 55,000.00
Total Monthly Servicing Fee 666,666.67
8. Collateral Interest Amount Activity
Beginning Collateral Interest 33,000,000.00
Required Collateral Interest Amount 33,000,000.00
Collateral Interest Surplus 0.00
Collateral Monthly Interest 138,626.84
Collateral Monthly Principal 0.00
Reallocated Collateral Interest this period 0.00
Cumulative Reallocated Collateral Interest 0.00
Previously Reallocated Collateral Interest reimbursed this
period by Excess Spread and Shared Finance Charge
Collections 0.00
Collateral Monthly Principal Payable per $1,000 of
Original Investment 0.00
Collateral Interest Monthly Interest Payable per $1,000 of
Original Investment 4.20
Ending Collateral Interest 33,000,000.00
Collateral Default Amount this period 222,238.68
Aggregate uncovered Collateral Default Amount 0.00
Available Collateral Interest Amount (Dollars) 33,000,000.00
Available Collateral Interest Amount (Percentage) 100.00%
Ratio of Collateral Interest to Investor Interest 8.25%
9. Past Due Statistics
(past due on a contractual basis)
1-29 days past due Dollars 124,514,251.61
Percent Dollars 4.72%
Number of Accts 32,934
Percent Number of Accts 1.44%
30-59 days past due Dollars 38,624,864.88
Percent Dollars 1.47%
Number of Accts 8,301
Percent Number of Accts 0.36%
60-89 days past due Dollars 30,176,720.10
Percent Dollars 1.15%
Number of Accts 5,771
Percent Number of Accts 0.25%
90-119 days past due Dollars 25,251,366.68
Percent Dollars 0.96%
Number of Accts 4,557
Percent Number of Accts 0.20%
120-149 days past due Dollars 19,845,517.32
Percent Dollars 0.75%
Number of Accts 3,402
Percent Number of Accts 0.15%
150+ days past due Dollars 17,458,512.46
Percent Dollars 0.66%
Number of Accts 2,905
Percent Number of Accts 0.13%
10. Base Rate Calculation
Gross Yield 19.58%
Percentage on Defaulted Accounts 8.08%
Portfolio Yield (net of losses) 11.50%
Base Rate 8.83%
Excess of Portfolio over Base Rate 2.66%
11. Number of Accounts in the Trust
Number of Additional Accounts 0
Number of Expired Removed Accounts 46,827
Number of Removed Accounts 0
Number of Automatic Additional Accounts 6
Ending Number of Accounts 2,290,632
