|
|
|
|
|
|
|
|
|
|
|
|
|
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 17, 1998
CAPITAL ONE MASTER TRUST
CAPITAL ONE BANK
(Exact name of registrant as specified in its charter)
Virginia 0 - 25762 54 - 1719855
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
11013 West Broad Street Road, Glen Allen, Virginia 23060
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code):
(804) 967-1000
(Former name or former address, if changed since last report):
Not Applicable
Page 1 of 6
<PAGE> 2
ITEM 5. OTHER EVENTS.
The sole purpose of this form 8K-A Amendment is to replace
Exhibit 1 in it's entirety with Exhibit 1 attached hereto.
ITEM 7 (c). EXHIBITS
The following are filed as exhibits to this Report under Exhibit
20:
1. January Performance Summary
Page 2 of 6
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
CAPITAL ONE MASTER TRUST
By: CAPITAL ONE BANK
Servicer
By: /s/ David M. Willey
-------------------
David M. Willey
Vice President
Date: February 20, 1998
Page 3 of 6
<PAGE> 4
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
SEQUENTIALLY
EXHIBIT NUMBERED
NUMBER EXHIBITS PAGE
- ------ -------- ----
<S> <C> <C>
1 January Performance Summary 07
</TABLE>
Page 4 of 6
<PAGE> 1
CAPITAL ONE MASTER TRUST (RECEIVABLES)
<TABLE>
<CAPTION>
MONTHLY PERIOD : JANUARY 1998
<S> <C>
Beginning of the Month Principal Receivables : 10,576,845,603.02
-----------------
Beginning of the Month Finance Charge Receivables : 319,858,496.18
-----------------
Beginning of the Month Discounted Receivables : 0.00
-----------------
Beginning of the Month Total Receivables : 10,896,704,099.20
-----------------
Removed Principal Receivables : 0.00
-----------------
Removed Finance Charge Receivables : 0.00
-----------------
Removed Total Receivables : 0.00
-----------------
Additional Principal Receivables : 640,987,388.85
-----------------
Additional Finance Charge Receivables : 2,624,522.51
-----------------
Additional Total Receivables : 643,611,911.36
-----------------
Discounted Receivables Generated this Period 0.00
-----------------
End of the Month Principal Receivables : 10,061,736,517.10
-----------------
End of the Month Finance Charge Receivables : 324,534,089.18
-----------------
End of the Month Discounted Receivables : 0.00
-----------------
End of the Month Total Receivables : 10,386,270,606.28
-----------------
Excess Funding Account Balance 0.00
-----------------
Adjusted Invested Amount of all Master Trust Series 8,968,341,857.83
-----------------
End of the Month Seller Percentage 10.866858%
-----------------
</TABLE>
CAPITAL ONE MASTER TRUST (DELINQUENCIES AND LOSSES)
<TABLE>
<CAPTION>
MONTHLY PERIOD : JANUARY 1998 ACCOUNTS RECEIVABLES
-------- -----------
<S> <C> <C>
End of the Month Delinquencies :
30 - 59 Days Delinquent 152,467 236,827,331.51
------- --------------
60 - 89 Days Delinquent 93,722 152,689,695.55
------- --------------
90 + Days Delinquent 189,476 307,126,354.57
------- --------------
Total 30 + Days Delinquent 435,665 64,605,705.46
------- --------------
Delinquencies 30 + Days as a Percent of End of the Month Total Receivables 6.71%
--------------
Defaulted Accounts During the Month 46,144 (1) 64,605,705.46
------- --------------
Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables (1) 7.33%
--------------
</TABLE>
(1) During the 4th Quarter of 1997, Capital One changed the methodology as to
the timing of charging-off credit card loans. Capital One now charges-off credit
card loans at 180 days past due versus the prior practice of charging-off credit
card loans during the first billing cycle after becoming 180 days past due. The
change in methodology amounted to $40,961,451.31/4.88% of additional December
charge-offs and is referred to as the Transitional Defaulted Amount for the
purposes of the Servicing Reports.
<TABLE>
<S> <C> <C>
Proforma Defaulted Accounts (which excludes Transitional Defaulted Amount) 34,711 69,082,254.68
------ -------------
Proforma Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables 8.22%
-------------
</TABLE>
Page 5 of 6
<PAGE> 2
<TABLE>
<S> <C> <C>
Total Collections and Gross Payment Rate 1,168,055,035.97 10.72%
---------------- ----------------
Collections of Principal Receivables and Principal Payment Rate 995,815,142.89 9.42%
---------------- ----------------
Prior Month Billed Finance Charge and Fees 151,283,118.84
----------------
Amortized AMF Income 9,434,358.89
----------------
Interchange Collected 5,854,531.71
----------------
Recoveries of Charged Off Accounts 7,452,633.86
----------------
Collections of Discounted Receivables 0.00
----------------
Collections of Finance Charge Receivables and Annualized Yield 174,024,643.30 19.74%
---------------- ----------------
CAPITAL ONE MASTER TRUST (AMF COLLECTIONS)
MONTHLY PERIOD : JANUARY 1998
Beginning Unamortized AMF Balance 47,357,670.68
----------------
+ AMF Slug for Added Accounts 0.00
----------------
+ AMF Collections 7,649,608.67
----------------
- Amortized AMF Income 9,434,358.89
----------------
Ending Unamortized AMF Balance 45,572,920.46
----------------
</TABLE>
CAPITAL ONE MASTER TRUST (DISCOUNTED RECEIVABLES)
<TABLE>
<CAPTION>
MONTHLY PERIOD : JANUARY 1998
<S> <C> <C>
Gross Principal Payment Rate 9.42%
----------------
May 17, 1994 3% Discount of Addition 50,184,973.92
----------------
Total Discounted Receivables Collections as of Beginning of Month 50,184,973.92
----------------
Collections of Discounted Receivables Current Month 0.00
----------------
Discounted Receivables to be Collected 0.00
----------------
</TABLE>
/s/ Douglas C.H. Adamson
--------------------------
Douglas C.H. Adamson
Securitization Manager
Page 6 of 6
|
|