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Previous: CIRCUIT CITY CREDIT CARD MASTER TRUST, 8-K, EX-99.1, 2000-07-17 |
Next: CIRCUIT CITY CREDIT CARD MASTER TRUST, 8-K, EX-99.3, 2000-07-17 |
FORM OF MONTHLY CERTIFICATEHOLDER'S STATEMENT
FIRST NORTH AMERICAN NATIONAL BANK
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CIRCUIT CITY CREDIT CARD MASTER TRUST
SERIES 1996-1
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Pursuant to the Master Pooling and Servicing Agreement dated as of October
4,1994 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 1996-1 Supplement, dated as of November 27, 1996 (the
"Supplement" and, together with the Pooling and Servicing Agreement, the
"Agreement"), each between First North American National Bank, as Transferor and
Servicer, and Bankers Trust Company, as Trustee, the Servicer is required to
prepare certain information each month regarding distributions to
Certificateholders and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below:
Due Period Ending June 30, 2000
Determination Date July 7, 2000
Distribution Date July 17, 2000
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Class A Accumulation Period ("Y" or "N")? N
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Class B Accumulation Period ("Y" or "N")? N
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Early Amortization Period ("Y" or "N")? N
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Class B Investor Amount paid in full ("Y" or "N")? N
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Sharing Principal Collections with another Series ("Y" or "N")? N
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<TABLE>
<S> <C>
MASTER TRUST INFORMATION
Receivables
1. The aggregate amount of Eligible Receivables as of the end of
the last day of the relevant Due Period $ 1,135,129,621.79
2. The aggregate amount of Principal Receivables as of the end
of the last day of the relevant Due Period $ 1,109,010,459.63
3. The aggregate amount of Finance Charge Receivables as of
the end of the last day of the relevant Due Period $ 26,119,162.16
4. The aggregate amount of Discount Option Receivables as of
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the last day of the relevant Due Period $ 0.00
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5. The Transferor Amount as of the end of the last day of the
relevant Due Period $ 147,436,846.65
6. The minimum Transferor Amount as of the end of the last
day of the relevant Due Period $ 0.00
7. The Excess Funding Account Balance as of the end of the
last day of the relevant Due Period $ 0.00
8. The aggregate principal balance of Receivables determined to be
Receivables of Defaulted Accounts for the relevant Due Period $ 6,144,370.57
9. The aggregate amount of Recoveries for the relevant Due Period $ 1,636,122.57
10. The Default Amount for the relevant Due Period $ 4,508,248.00
Collections
11. The aggregate amount of Collections of Principal Receivables
for the relevant Due Period $ 136,666,332.57
12. The aggregate amount of Collections of Finance Charge
Receivables for the relevant Due Period $ 18,869,766.32
13. The aggregate amount of interest earnings (net of losses
and investment expenses) on the Excess Funding
Account for the relevant Due Period $ 0.00
14. The aggregate amount of Collections processed for the relevant
Due Period (sum of lines 9+11+12+13) $ 157,172,221.46
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15. The average Discount Percentage for the relevant Due Period % 0.00%
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Invested Amounts
16. The Series 1995-1 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 35,073,612.98
b. Class B $ 30,000,000.00
c. Collateral Indebtedness Interest $ 39,000,000.00
d. Class D $ 15,000,000.00
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e. Total Invested Amount (sum of a - d) $ 119,073,612.98
17. The Series 1996-1 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 162,000,000.00
b. Class B $ 22,500,000.00
c. Collateral Indebtedness Interest $ 29,250,000.00
d. Class D $ 11,250,000.00
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e. Total Invested Amount (sum of a - d) $ 225,000,000.00
18. The Series 1998-2 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 30,000,000.00
b. Class B $ 3,000,000.00
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c. Total Invested Amount (sum of a - b) $ 33,000,000.00
19. The Series 1999-1 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 80,000,000.00
b. Class B $ 4,500,000.00
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c. Total Invested Amount (sum of a - b) $ 84,500,000.00
20. The Series 2000-1 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 365,000,000.00
b. Class B $ 57,500,000.00
c. Collateralized Trust Obligation $ 47,500,000.00
d. Class D $ 30,000,000.00
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e. Total Invested Amount (sum of a - d) $ 500,000,000.00
21. The aggregate Invested Amount across all series of Investor
Certificates outstanding as of the end of the last day of the
relevant Due Period $ 961,573,612.98
Investor Amounts
22. The Series 1995-1 Investor Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 216,000,000.00
b. Class B $ 30,000,000.00
c. Collateral Indebtedness Interest $ 39,000,000.00
d. Class D $ 15,000,000.00
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e. Total Investor Amount (sum of a - d) $ 300,000,000.00
23. The Series 1996-1 Investor Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 162,000,000.00
b. Class B $ 22,500,000.00
c. Collateral Indebtedness Interest $ 29,250,000.00
d. Class D $ 11,250,000.00
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e. Total Investor Amount (sum of a - d) $ 225,000,000.00
24. The Series 1998-2 Investor Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 30,000,000.00
b. Class B $ 3,000,000.00
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c. Total Investor Amount (sum of a - b) $ 33,000,000.00
25. The Series 1999-1 Investor Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 80,000,000.00
b. Class B $ 4,500,000.00
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d. Total Investor Amount (sum of a - c) $ 84,500,000.00
26. The Series 2000-1 Adjusted Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 365,000,000.00
b. Class B $ 57,500,000.00
c. Collateralized Trust Obligation $ 47,500,000.00
d. Class D $ 30,000,000.00
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e. Total Adjusted Invested Amount (sum of a - d) $ 500,000,000.00
27. The aggregate Investor Amount across all series of Investor
Certificates outstanding as of the end of the last day of the
relevant Due Period $ 1,142,500,000.00
Series 1996-1 Allocation Percentages
28. The Fixed Percentage with respect to the relevant
Due Period
a. Class A % 0.00%
b. Class B % 0.00%
c. Collateral Indebtedness Interest % 0.00%
d. Class D % 0.00%
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e. Series 1996-1 Total 0.00%
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29. The Floating Percentage with respect to the relevant
Due Period
a. Class A % 14.30%
b. Class B % 1.99%
c. Collateral Indebtedness Interest % 2.58%
d. Class D % 0.99%
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e. Series 1996-1 Total 19.86%
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Allocation of Collections
30. The Series 1996-1 allocation of Collections of Principal
Receivables for the relevant Due Period (line 28 times
line 11)
a. Class A $ 19,546,593.66
b. Class B $ 2,714,804.68
c. Collateral Indebtedness Interest $ 3,529,246.08
d. Class D $ 1,357,402.34
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e. Series 1996-1 Total $ 27,148,046.75
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31. The Series 1996-1 allocation of Collections of Finance
Charge Receivables for the relevant Due Period (line 28
times line 12)
a. Class A $ 2,698,833.34
b. Class B $ 374,837.96
c. Collateral Indebtedness Interest $ 487,289.35
d. Class D $ 187,418.98
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e. Series 1996-1 Total $ 3,748,379.64
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Portfolio Yield and Delinquencies
32. The Portfolio Yield for the relevant Due Period (including
Shared Excess Finance Charge Collections, if allocated)
with respect to Series 1996-1 % 15.30%
33. The 3-month average Portfolio Yield for the three most recent
Due Periods % 14.83%
34. The Base Rate for the relevant Due Period % 8.92%
35. The 3-month average Base Rate for the three most recent
Due Periods % 8.70%
36. Average Portfolio Yield less average Base Rate % 6.13%
37. The amount of Shared Excess Finance Charge Collections
allocable to Series 1996-1 with respect to any Finance Charge
Shortfall in such Series for the relevant Due Period $ 0.00
38. The aggregate outstanding balance of Receivables which were
delinquent as of the end of the relevant Due Period:
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(a) Delinquent 31 to 60 days $ 20,752,763.01
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(b) Delinquent 61 to 90 days $ 11,230,882.72
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(c) Delinquent 91 days or more $ 22,695,073.84
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Determination of Monthly Interest
39. Class A Monthly Interest:
a. Class A Monthly Interest $ 982,260.00
b. Funds allocated and available to pay Class A
Monthly Interest for relevant Due Period (4.3a) $ 2,709,093.34
c. Class A Interest Shortfall (a less b) $ 0.00
d. Class A Additional Interest $ 0.00
40. Class B Monthly Interest:
a. Class B Monthly Interest $ 141,025.00
b. Funds allocated and available to pay Class B
Monthly Interest for relevant Due Period (4.3b) $ 380,862.96
c. Class B Interest Shortfall (a less b) $ 0.00
d. Class B Additional Interest $ 0.00
41. Collateral Monthly Interest and Class D Monthly Interest:
a. Collateral/Class D Monthly Interest $ 261,045.00
b. Funds allocated and available to pay Collateral/
Class D Monthly Interest for relevant Due Period $ 674,708.33
c. Collateral/Class D Interest Shortfall (a less b) $ 0.00
d. Collateral/Class D Additional Interest $ 0.00
Accumulation Period
42. Required Accumulation Factor Number 10.00
43. Accumulation Period Factor 1.00
44. Accumulation Period Length 10.00
45. Accumulation period commencement date January 1, 2001
Determination of Monthly Principal
46. Class A Monthly Principal (pursuant to section 4.4a):
(X)a. Fixed Allocation Percentage of Principal Receivable
Collections + Shared - Reallocated Coll. Applied $ 0.00
(Y)a. Controlled Accumulation Amount $ 0.00
b. Deficit Controlled Accumulation Amount $ 0.00
c. Controlled Deposit Amount $ 0.00
(Z)a. Class A Invested Amount $ 162,000,000.00
Class A Monthly Principal (the least of x,y,z) $ 0.00
47. Class B Monthly Principal (pursuant to section 4.4b)
(distributable only after payout of Class A)
(X)a. Fixed Allocation Percentage of Principal Receivable
Collections + Shared - Reallocated Collections
Applied - Class A Monthly Principal Applications $ 0.00
(Y)a. Controlled Accumulation Amount $ 0.00
b. Deficit Controlled Accumulation Amount $ 0.00
c. Controlled Deposit Amount $ 0.00
(Z)a. Class B Invested Amount $ 22,500,000.00
Class B Monthly Principal (the least of x,y,z) $ 0.00
48. Collateral Monthly Principal
a. pursuant to 4.4c (i) prior to occurrence of
Early Amortization or payment in full of the
Class B Investor Amount (optional) $ 0.00
b. pursuant to 4.4c (ii) prior to occurrence of
Early Amortization or payment in full of the
Class B Investor Amount $ 0.00
49. Class D Monthly Principal (pursuant to section 4.4d)
(distributable only after CIA is paid in full) $ 0.00
Available Funds
50. Class A Available Funds
a. Class A Finance Charge allocation (line 31a) $ 2,698,833.34
b. Class A Cap Payment $ 10,260.00
c. Prior to Class B Principal Commencement Date, the
amount of Principal Funding Investment Proceeds for
such prior Due Period $ 0.00
d. Any amount of Reserve Account withdrawn and
included in Class A Available Funds (section 4.14d) $ 0.00
e. Class A Available Funds (sum a-d) $ 2,709,093.34
51. Class B Available Funds
a. Class B Finance Charge allocation (line 31b) $ 374,837.96
b. Class B Cap Payment $ 6,025.00
c. On or After Class B Principal Commencement Date, the
amount of Principal Funding Investment Proceeds for
such prior Due Period $ 0.00
d. Any amount of Reserve Account withdrawn and
included in Class B Available Funds (section 4.14d) $ 0.00
e. Class B Available Funds (sum a-d) $ 380,862.96
52. Collateral Available Funds:
a. Collateral Finance Charge allocation (line 31c) $ 487,289.35
53. Class D Available Funds
a. Class D Finance Charge allocation (line 31d) $ 187,418.98
Reallocated Principal Collections
54. Class D Subordinated Principal Collections (to the extent $ 0.00
needed to fund Required Amounts)
55. Collateral Subordinated Principal Collections (to the extent $ 0.00
needed to fund Required Amounts)
56. Class B Subordinated Principal Collections (to the extent $ 0.00
needed to fund Required Amounts)
57. Total Reallocated Principal Collections $ 0.00
Investor Default Amounts
58. Class A Investor Default Amount $ 644,788.59
% 4.88%
59. Class B Investor Default Amount $ 89,553.97
% 4.88%
60. Collateral Investor Default Amount $ 116,420.16
% 4.88%
61. Class D Investor Default Amount $ 44,776.99
% 4.88%
62. Aggregate Investor Default Amount $ 895,539.71
% 4.88%
Allocable Amounts for Series 1996-1
63. The Allocable Amount for Series 1996-1 as of the end of the
relevant Due Period (Inv Default Amt + Series 96-1 Adjust Amt)
Class A $ 644,788.59
Class B $ 89,553.97
Class C $ 116,420.16
Class D $ 44,776.99
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Aggregate Allocable Amount $ 895,539.71
Required Amounts for Series 1996-1
64. Class A Required Amount (section 4.5a)
a. Class A Monthly Interest for current Distribution
Date $ 982,260.00
b. Class A Monthly Interest previously due but not
paid $ 0.00
c. Class A Additional Interest for prior Due Period
or previously due but not paid $ 0.00
d. Class A Investor Allocable Amount $ 644,788.59
e. Class A Servicing Fee (if FNANB is no longer
servicer) $ 0.00
f. Class A Available Funds $ 2,709,093.34
g. Class A Required Amount (sum of a-e minus f) $ 0.00
65. Class B Required Amount (section 4.5b)
a. Class B Monthly Interest for current Distribution
Date $ 141,025.00
b. Class B Monthly Interest previously due but not
paid $ 0.00
c. Class B Additional Interest for prior Due Period
or previously due but not paid $ 0.00
d. Class B Servicing Fee (if FNANB is no longer
servicer) $ 0.00
e. Class B Available Funds $ 380,862.96
f. Excess of Class B Allocable Amount over
funds available to make payments (section 4.8d) $ 0.00
g. Class B Required Amount ((sum of a-d) minus e $
plus f) 0.00
66. Collateral/Class D Required Amount (section 4.5c,d)
a. Collateral/Class D Monthly Interest for current
Distribution date $ 261,045.00
b. Collateral/Class D Monthly Interest previously
due but not paid $ 0.00
c. Collateral/Class D Additional Interest for prior
Due Period or previously due but not paid $ 0.00
d. Collateral/Class D Servicing Fee (if FNANB is
no longer servicer) $ 0.00
e. Collateral/Class D Available Funds $ 674,708.33
f. Excess of Collateral/Class D Allocable Amount
over funds available to make payments $ 0.00
g. Collateral/Class D Required Amount ((sum of
a-d) minus e plus f) $ 0.00
Investor Charge-Offs
67. The aggregate amount of Class A Investor Charge-Offs and the
reductions in the Class B Invested Amount, Collateral Indebtedness
Amount and Class D Invested Amount
a. Class A $ 0.00
b. Class B $ 0.00
c. Collateral Indebtedness Amount $ 0.00
d. Class D $ 0.00
68. The aggregate amount of Class B Investor Charge-Offs and the
reductions in the Collateral Indebtedness Amount and Class D
Invested Amount
a. Class B $ 0.00
b. Collateral Indebtedness Amount $ 0.00
c. Class D $ 0.00
69. The aggregate amount of Collateral Charge-Offs and the reductions
in Class D Invested Amount
a. Collateral Indebtedness Amount $ 0.00
b. Class D $ 0.00
Servicing Fee
(2% of total Invested Amount)
70. Class A Servicing Fee for the relevant Due Period $ 270,000.00
71. Class B Servicing Fee for the relevant Due Period $ 37,500.00
72. Collateral Servicing Fee for the relevant Due Period $ 48,750.00
73. Class D Servicing Fee for the relevant Due Period $ 18,750.00
Enhancement
(18% of total Invested Amount)
74. Required Enhancement Amount
a. Invested Amount as of the last day of relevant Due
Period $ 225,000,000.00
b. Required Enhancement Amount (line a times 18%) 40,500,000.00
75. Enhancement Surplus
a. Amount on Deposit in the Cash Collateral Account $ 0.00
b. Collateral Indebtedness Amount $ 29,250,000.00
c. Class D Invested Amount $ 11,250,000.00
d. Required Enhancement Amount $ 40,500,000.00
e. Enhancement Surplus ((sum of a-c)less d) $ 0.00
f. Enhancement deficiency, deposit excess Finance
Charge to Cash Collateral Account $ 0.00
Reserve Account
76. Lowest historical 3 month average Portfolio Yield less 3 month
average Base Rate (must be > 4%, or line 77 will adjust accordingly) % 5.01%
77. Reserve Account Funding Date (based on line 76) 11/15/00
78. Required Reserve Account Amount (after the Reserve Account
Funding Date, 0.5% times the Class A/Class B Investor Amount) $ 0.00
79. Available Reserve Account Amount
a. Reserve Draw Amount (covered amount - p.f. proceeds) $ 0.00
b. Reserve Account Investment Proceeds $ 0.00
c. Amount on deposit in the Reserve Account at the end of the
relevant Due Period less Investment Proceeds $ 0.00
d. Required Reserve Account Amount (line 78) $ 0.00
e. Available Reserve Account Amount (after Reserve Draw) $ 0.00
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f. Required Reserve Account Deposit on Distribution Date $ 0.00
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Principal Funding Account
80. Principal Funding Account Balance at the beginning of the Due Period $ 0.00
81. a. Daily Deposits to the Principal Funding Account during the
relevant Due Period $ 0.00
b. Principal Funding Account Investment Proceeds $ 0.00
82. Withdrawals from the Principal Funding Account during the relevant
Due Period $ 0.00
83. Principal Funding Account Balance as of the last day of the
relevant Due Period $ 0.00
84. LIBOR Determination date for the relevant Due Period 13-Jun-00
85. LIBOR rate for the relevant Due Period % 6.651%
86. As of the date hereof, no Early Amortization Event has been
deemed to have occurred during the relevant Due Period.
</TABLE>
IN WITNESS WHEREOF, THE undersigned has duly executed
and delivered this Certificate this 7th day of July, 2000
FIRST NORTH AMERICAN NATIONAL BANK,
as Servicer
By s/Philip J. Dunn
Name: Philip J. Dunn
Title: Vice President
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