================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
-------------------------------------------------
September 15, 1997
Banc One Credit Card Master Trust
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York
----------------------------------------------
(State or other jurisdiction of incorporation)
0-25636 31-4148768
------------------------ ------------------------------------
(Commission File Number) (IRS Employer Identification Number)
c/o Bank One, Columbus, N.A., as Administrator, 800 Brooksedge Blvd.,
Attn: Mark Stickle, Westerville, Ohio 43081
---------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:
---------------------------------------------------
(614) 248-6139
================================================================================
<PAGE>
Item 5. Other Events
On September 15, 1997, the Banc One Credit Card Master Trust (the
"Trust") made a regular monthly distribution of principal and/or
interest to holders of the following Certificates issued by the Trust,
each of which is included in Group One and is a Principal Sharing
Series:
7.55% Class A Asset Backed Certificates, Series 1994-B
7.75% Class B Asset Backed Certificates, Series 1994-B
7.80% Class A Asset Backed Certificates, Series 1994-C
8.00% Class B Asset Backed Certificates, Series 1994-C
6.15% Class A Asset Backed Certificates, Series 1995-A
6.30% Class B Asset Backed Certificates, Series 1995-A
6.30% Class A Asset Backed Certificates, Series 1995-B
6.45% Class B Asset Backed Certificates, Series 1995-B
Floating Rate Class A Asset Backed Certificates, Series 1996-A
Floating Rate Class B Asset Backed Certificates, Series 1996-A
Item 7. Exhibits
See page 4 for Exhibit Index.
<PAGE>
EXHIBIT INDEX
Exhibit Description Page
- ------- ----------- ----
99.1 The Monthly Statements and other information reflecting
the Trust's Activities for the Monthly Period ending
August 31, 1997.............................................6-18
99.2 Monthly Servicer's Certificates............................19-23
<PAGE>
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 hereunto duly authorized.
BANC ONE CREDIT CARD MASTER TRUST
Date: September 9, 1997 By: /s/ Mark Stickle
----------------- ---------------
Name: Mark Stickle
------------
Title: Chief Financial Officer
-----------------------
BANK ONE, COLUMBUS, NA
Exhibit 99.1
BANC ONE CREDIT CARD MASTER TRUST - SERIES ALLOCATION REPORT
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97 For the Monthly Period 31-Aug-97 Days in Interest Period (30/360) 30
Determined as of: 09-Sep-97 Monthly Period 31 Days in Interest Period (Act/360) 31
Beginning Total Trust Investor Interest Series 1994-B Series 1994-C
------------------ ----------------- ----------------- -------------- --------------
<S> <C> <C> <C> <C>
Pool Balance (Principal) 4,982,685,431.66
Finance Charges O/S 109,908,196.73
Excess Funding Account 0.00
Initial Invested Amount 2,660,000,000.00 950,000,000.00 450,000,000.00
Invested Amount 2,660,000,000.00 950,000,000.00 450,000,000.00
Class A Invested Amount 893,000,000.00 423,000,000.00
Class B Invested Amount 57,000,000.00 27,000,000.00
Principal Funding Account 223,250,000.00 223,250,000.00 0.00
Adjusted Invested Amount 2,436,750,000.00 726,750,000.00 450,000,000.00
Class A Adjusted Invested Amt 669,750,000.00 423,000,000.00
Class B Adjusted Invested Amt 57,000,000.00 27,000,000.00
Enhancement Invested Amount 0.00 0.00 0.00
Principal Allocation Pct 100.00% 53.38% 19.07% 9.03%
Principal Collections 602,829,516.42 321,819,736.70 114,935,620.25 54,443,188.54
Floating Allocation Pct 100.00% 48.90% 14.59% 9.03%
Finance Charge Collections 76,490,576.84 37,407,220.60 11,156,539.48 6,908,073.98
Defaulted Amount 38,785,324.27 18,967,711.33 5,657,036.71 3,502,809.11
Interchange Collections 6,876,240.43 3,362,780.79 1,002,934.62 621,012.15
Servicer Interchange 2,538,281.25 757,031.25 468,750.00
Shared Principal Collections 220,194,791.07 0.00 57,945,997.65
<CAPTION>
Beginning Series 1995-A Series 1995-B Series 1996-A Seller Interest
- ----------------------- -------------- -------------- -------------- ---------------
<S> <C> <C> <C> <C>
Pool Balance (Principal)
Finance Charges O/S
Excess Funding Account
Initial Invested Amount 380,000,000.00 380,000,000.00 500,000,000.00
Invested Amount 380,000,000.00 380,000,000.00 500,000,000.00
Class A Invested Amount 357,200,000.00 357,200,000.00 465,000,000.00
Class B Invested Amount 22,800,000.00 22,800,000.00 35,000,000.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 380,000,000.00 380,000,000.00 500,000,000.00 2,545,935,431.66
Class A Adjusted Invested Amt 357,200,000.00 357,200,000.00 465,000,000.00 NA
Class B Adjusted Invested Amt 22,800,000.00 22,800,000.00 35,000,000.00 NA
Enhancement Invested Amount 0.00 0.00 0.00 NA
Principal Allocation Pct 7.63% 7.63% 10.03% 46.62%
Principal Collections 45,974,248.10 45,974,248.10 60,492,431.71 281,009,779.72
Floating Allocation Pct 7.63% 7.63% 10.03% 51.10%
Finance Charge Collections 5,833,484.69 5,833,484.69 7,675,637.76 39,083,356.24
Defaulted Amount 2,957,927.69 2,957,927.69 3,892,010.12 19,817,612.94
Interchange Collections 524,410.26 524,410.26 690,013.50
Servicer Interchange 395,833.33 395,833.33 520,833.33
Shared Principal Collections 48,932,175.79 48,932,175.79 64,384,441.83
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Ending Total Trust Investor Interest Series 1994-B Series 1994-C
-------- -------------- ----------------- -------------- --------------
<S> <C> <C> <C> <C>
Pool Balance (Principal) 4,971,943,069.69
Finance Charges O/S 114,522,522.75
Excess Funding Account 0.00
Initial Invested Amount 2,660,000,000.00 950,000,000.00 450,000,000.00
Invested Amount 2,660,000,000.00 950,000,000.00 450,000,000.00
Class A Invested Amount 893,000,000.00 423,000,000.00
Class B Invested Amount 57,000,000.00 27,000,000.00
Principal Funding Account 446,500,000.00 446,500,000.00 0.00
Adjusted Invested Amount 2,213,500,000.00 503,500,000.00 450,000,000.00
Class A Adjusted Invested Amt 446,500,000.00 423,000,000.00
Class B Adjusted Invested Amt 57,000,000.00 27,000,000.00
Enhancement Invested Amount 0.00 0.00 0.00
Principal Allocation Pct 100.00% 53.50% 19.11% 9.05%
Floating Allocation Pct 100.00% 44.52% 10.13% 9.05%
</TABLE>
<TABLE>
<CAPTION>
Ending Series 1995-A Series 1995-B Series 1996-A Seller Interest
-------- -------------- -------------- -------------- ---------------
<S> <C> <C> <C> <C>
Pool Balance (Principal)
Finance Charges O/S
Excess Funding Account
Initial Invested Amount 380,000,000.00 380,000,000.00 500,000,000.00
Invested Amount 380,000,000.00 380,000,000.00 500,000,000.00
Class A Invested Amount 357,200,000.00 357,200,000.00 465,000,000.00
Class B Invested Amount 22,800,000.00 22,800,000.00 35,000,000.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 380,000,000.00 380,000,000.00 500,000,000.00 2,758,443,069.69
Class A Adjusted Invested Amt 357,200,000.00 357,200,000.00 465,000,000.00 NA
Class B Adjusted Invested Amt 22,800,000.00 22,800,000.00 35,000,000.00 NA
Enhancement Invested Amount 0.00 0.00 0.00 NA
Principal Allocation Pct 7.64% 7.64% 10.06% 46.50%
Floating Allocation Pct 7.64% 7.64% 10.06% 55.48%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SERIES ALLOCATION REPORT
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97 For the Monthly Period 31-Aug-97 Days in Interest Period (30/360) 30
Determined as of: 09-Sep-97 Monthly Period 34 Days in Interest Period (Act/360) 31
<S> <C> <C> <C>
Minimum Balance Requirement
- -------------------------- Gross Balances of
Trust Initial Invested Amount 2,660,000,000.00 Accounts Delinquent: (%) ($)
------------------- ----- --------------
Trust PFA 446,500,000.00 30 - 59 days 2.01% 102,286,368.91
Ending Portfolio Principal Balance 4,971,943,069.69 60 - 89 days 1.27% 64,699,701.62
90 days + 2.49% 126,727,749.95
Beginning Excess Funding Acct Bal 0.00 Total 30 days + 5.77% 293,713,820.48
Required Excess Funding Account Deposit 0.00
Excess Funding Account Withdrawal 0.00
Seller's Participation Amt (w/o EFA) 2,758,443,069.69 Gross Credit Losses 9.86% 40,935,004.11
Required Seller's Interest 348,036,014.88 Net Credit Losses 9.34% 38,785,324.27
Required Excess Funding Account Balance 0.00 Discount Option Receivables 0
Seller's Participation Amount 2,758,443,069.69 Discount Percentage 0.00%
Finance Charge Billed - pool 66,260,011.80
Fees Billed - pool 7,702,413.52
Interest Earned on Collection Account 2,565,320.08
Required Principal Balance 2,660,000,000.00
EFA + Receivables + PFA 5,418,443,069.69
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1994-B
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97
Determined as of: 09-Sep-97
For the Monthly Period Ending: 31-Aug-97
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 31
Beginning Ending Change
--------- ------- -------
<S> <C> <C> <C>
Pool Balance (Principal) 4,982,685,431.66 4,971,943,069.69 (10,742,361.97)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 950,000,000.00 950,000,000.00 0.00
Class A Invested Amount 893,000,000.00 893,000,000.00 0.00
Class B Invested Amount 57,000,000.00 57,000,000.00 0.00
Principal Funding Account 223,250,000.00 446,500,000.00 223,250,000.00
Adjusted Invested Amount 726,750,000.00 503,500,000.00 (223,250,000.00)
Class A Adjusted Invested Amount 669,750,000.00 446,500,000.00 (223,250,000.00)
Class B Adjusted Invested Amount 57,000,000.00 57,000,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 399,053.59 0.00 (399,053.59)
Available Cash Collateral Amount 74,182,691.76 53,781,490.59 (20,401,201.16)
Available Shared Collateral Amount 64,682,691.76 44,281,490.59 (20,401,201.16)
Spread Account 36,434,279.88 36,559,934.48 125,654.60
Servicing Base Amount 726,750,000.00 503,500,000.00 (223,250,000.00)
Allocation Percentages
- ----------------------
Floating Allocation Pct 14.59%
Principal Allocation Pct 19.07%
Class A Floating Pct 92.16%
Class B Floating Pct 7.84%
Class A Principal Pct 94.00%
Class B Principal Pct 6.00%
</TABLE>
<TABLE>
<CAPTION>
Series
Allocations Trust 1994-B Class A Class B
------------ ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Principal Collections 602,829,516.42 114,935,620.25 108,039,483.03 6,896,137.21
Finance Charge Collections 76,490,576.84 11,156,539.48 10,281,516.77 875,022.70
PFA Investment Proceeds NA 989,121.53 989,121.53 0.00
Reserve Account Draw NA 400,507.88 400,507.88 0.00
-------------- ------------- -----------
Available Funds 12,546,168.89 11,671,146.18 875,022.70
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 757,031.25 697,656.25 59,375.00
Monthly Interest 5,986,583.33 5,618,458.33 368,125.00
Monthly Servicing Fee 454,218.75 418,593.75 35,625.00
Defaulted Amounts 38,785,324.27 5,657,036.71 5,213,347.56 443,689.15
------------- ------------- ----------
12,854,870.05 11,948,055.89 906,814.15
Excess Spread 0.00 0.00 0.00
Required Amount 308,701.16 276,909.71 31,791.45
Cash Collateral Account
- -----------------------
Cash Collateral Fee 29,971.51
Risk-Free Fee 13,497.92
Interest on CCA Draw 3,432.77
Total Fees - Interest 46,902.20
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Cash Collateral Account (continued)
- ------------------------------------
Quarterly Excess Spread Percentage -1.24%
Principal Payment Rate Calculation 12.14%
Calculated Current Month's Spread Account Cap 5.50%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 5.50%
Beginning Cash Collateral Amount 74,182,691.76
Required Cash Collateral Amount 54,815,000.00
Cash Collateral Account Draw 308,701.16
Cash Collateral Account Surplus 19,367,691.76
Beginning Spread Account Balance 36,434,279.88
Required Spread Account Amount 52,250,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 15,815,720.12
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 2
Controlled Accumulation Amount 223,250,000.00
Required PFA Balance 446,500,000.00
Beginning PFA Balance 223,250,000.00
Controlled Deposit Amount 223,250,000.00
Available Investor Principal Collections 120,592,656.96
Principal Shortfall 102,657,343.04
Shared Principal to Other Series 0.00
Shared Principal from Other Series 102,657,343.04
Class A Monthly Principal 223,250,000.00
Class B Monthly Principal 0.00
Monthly Principal 223,250,000.00
PFA Deposit 223,250,000.00
PFA Withdrawal 0.00
Ending PFA Balance 446,500,000.00
Principal to Investors 0.00
Ending Class A Invested Amount 893,000,000.00
Ending Class B Invested Amount 57,000,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.38%
Revolving Investor Interest 2,660,000,000.00
Class A Invested Amount 893,000,000.00
Available Principal 276,066,609.21
Class A Accumulation Period Length 4
Reserve Account
- ---------------
Available Reserve Account Amount 0.00
Covered Amount 1,404,614.58
Reserve Draw Amount 400,507.88
Portfolio Yield 11.23%
Reserve Account Factor 33.33%
Portfolio Adjusted Yield 1.42%
Reserve Account Funding Period Length 0
Reserve Account Funding Date 15-Aug-97
Weighted Average Coupon 7.56%
Required Reserve Account Amount 3,166,666.67
Reserve Account Surplus 0.00
Required Reserve Account Deposit 3,166,666.67
Portfolio Yield - 3 month average 10.92%
Base Rate - 3 month average 9.41%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 1.52%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1994-C
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97
Determined as of: 09-Sep-97
For the Monthly Period Ending: 31-Aug-97
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 31
Beginning Ending Change
---------- -------- --------
<S> <C> <C> <C>
Pool Balance (Principal) 4,982,685,431.66 4,971,943,069.69 (10,742,361.97)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 450,000,000.00 450,000,000.00 0.00
Class A Invested Amount 423,000,000.00 423,000,000.00 0.00
Class B Invested Amount 27,000,000.00 27,000,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 450,000,000.00 450,000,000.00 0.00
Class A Adjusted Invested Amount 423,000,000.00 423,000,000.00 0.00
Class B Adjusted Invested Amount 27,000,000.00 27,000,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 0.00 0.00
Available Cash Collateral Amount 44,469,169.78 44,194,934.65 (274,235.13)
Available Shared Collateral Amount 39,969,169.78 39,694,934.65 (274,235.13)
Spread Account 17,147,018.89 17,198,977.51 51,958.62
Servicing Base Amount 450,000,000.00 450,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 9.03%
Principal Allocation Pct 9.03%
Class A Floating Pct 94.00%
Class B Floating Pct 6.00%
Class A Principal Pct 94.00%
Class B Principal Pct 6.00%
</TABLE>
<TABLE>
<CAPTION>
Series
Allocations Trust 1994-C Class A Class B
------------ --------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Principal Collections 602,829,516.42 54,443,188.54 51,176,597.23 3,266,591.31
Finance Charge Collections 76,490,576.84 6,908,073.98 6,493,589.54 414,484.44
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
---- ---- ----
Available Funds 6,908,073.98 6,493,589.54 414,484.44
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 468,750.00 440,625.00 28,125.00
Monthly Interest 2,929,500.00 2,749,500.00 180,000.00
Monthly Servicing Fee 281,250.00 264,375.00 16,875.00
Defaulted Amounts 38,785,324.27 3,502,809.11 3,292,640.56 210,168.55
------------ ------------ ----------
7,182,309.11 6,747,140.56 435,168.55
Excess Spread 0.00 0.00 0.00
Required Amount 274,235.13 253,551.02 20,684.11
Cash Collateral Account
- -----------------------
Cash Collateral Fee 20,343.75
Risk-Free Fee 6,393.75
Interest on CCA Draw 2,514.07
Total Fees - Interest 29,251.57
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Cash Collateral Account (continued)
- ----------------------- -----------
Quarterly Excess Spread Percentage -0.72%
Principal Payment Rate Calculation 12.14%
Calculated Current Month's Spread Account Cap 6.00%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 6.00%
Beginning Cash Collateral Amount 44,469,169.78
Required Cash Collateral Amount 45,000,000.00
Cash Collateral Account Draw 274,235.13
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 17,147,018.89
Required Spread Account Amount 27,000,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 9,852,981.11
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0.00
Controlled Accumulation Amount 141,000,000.00
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 57,945,997.65
Principal Shortfall 0.00
Shared Principal to Other Series 57,945,997.65
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 423,000,000.00
Ending Class B Invested Amount 27,000,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.38%
Revolving Investor Interest 1,710,000,000.00
Class A Invested Amount 423,000,000.00
Available Principal 177,471,391.64
Class A Accumulation Period Length 3
Reserve Account
- ---------------
Available Reserve Account Amount 0.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 10.75%
Reserve Account Factor 25.00%
Portfolio Adjusted Yield 0.85%
Reserve Account Funding Period Length 3
Reserve Account Funding Date 15-Jun-98
Weighted Average Coupon 7.81%
Required Reserve Account Amount 0.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 0.00
Portfolio Yield - 3 month average 10.76%
Base Rate - 3 month average 9.81%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 0.95%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1995-A
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97
Determined as of: 09-Sep-97
For the Monthly Period Ending: 31-Aug-97
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 31
Beginning Ending Change
---------- ------- -------
<S> <C> <C> <C>
Pool Balance (Principal) 4,982,685,431.66 4,971,943,069.69 (10,742,361.97)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Invested Amount 22,800,000.00 22,800,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Adjusted Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Adjusted Invested Amount 22,800,000.00 22,800,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 0.00 0.00
Available Cash Collateral Amount 380,000,000.00 380,000,000.00 0.00
Available Shared Collateral Amount 34,200,000.00 34,200,000.00 0.00
Spread Account 14,998,787.844 15,347,299.66 348,511.82
Servicing Base Amount 380,000,000.00 380,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 7.63%
Principal Allocation Pct 7.63%
Class A Floating Pct 94.00%
Class B Floating Pct 6.00%
Class A Principal Pct 94.00%
Class B Principal Pct 6.00%
</TABLE>
<TABLE>
<CAPTION>
Series
Allocations Trust 1995-A Class A Class B
- ------------ --------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Principal Collections 602,829,516.42 45,974,248.10 43,215,793.21 2,758,454.89
Finance Charge Collections 76,490,576.84 5,833,484.69 5,483,475.61 350,009.08
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
----- ----- ----
Available Funds 5,833,484.69 5,483,475.61 350,009.08
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 395,833.33 372,083.33 23,750.00
Monthly Interest 1,950,350.00 1,830,650.00 119,700.00
Monthly Servicing Fee 237,500.00 223,250.00 14,250.00
Defaulted Amounts 38,785,324.27 2,957,927.69 2,780,452.03 177,475.66
------------ ------------ ----------
5,541,611.03 5,206,435.36 335,175.66
Excess Spread 469,349.33 277,040.25 192,309.08
Required Amount 0.00 0.00 0.00
Cash Collateral Account
- -----------------------
Cash Collateral Fee 11,452.78
Risk-Free Fee 2,945.00
Interest on CCA Draw 0.00
Monthly Cash Collateral Fee 14,397.78
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Cash Collateral Account (continued)
- ------------------------------------
Quarterly Excess Spread Percentage 1.50%
Principal Payment Rate Calculation 12.14%
Calculated Current Month's Spread Account Cap 5.50%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 5.50%
Beginning Cash Collateral Amount 38,000,000.00
Required Cash Collateral Amount 38,000,000.00
Cash Collateral Account Draw 0.00
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 14,998,787.84
Required Spread Account Amount 20,900,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 5,901,212.16
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0.00
Controlled Accumulation Amount 119,066,666.67
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 48,932,175.79
Principal Shortfall 0.00
Shared Principal to Other Series 48,932,175.79
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 357,200,000.00
Ending Class B Invested Amount 22,800,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.38%
Revolving Investor Interest 1,260,000,000.00
Class A Invested Amount 357,200,000.00
Available Principal 130,768,393.84
Class A Accumulation Period Length 3
Reserve Account
- ---------------
Available Reserve Account Amount 0.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 10.75%
Reserve Account Factor 25.00%
Portfolio Adjusted Yield 2.51%
Reserve Account Funding Period Length 3
Reserve Account Funding Date 15-Jan-2000
Weighted Average Coupon 6.16%
Required Reserve Account Amount 0.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 0.00
Portfolio Yield - 3 month average 10.76%
Base Rate - 3 month average 8.16%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 2.61%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1995-B
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97
Determined as of: 09-Sep-97
For the Monthly Period Ending: 31-Aug-97
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 31
Beginning Ending Change
---------- --------- -------
<S> <C> <C> <C>
Pool Balance (Principal) 4,982,685,431.66 4,971,943,069.69 (10,742,361.97)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Invested Amount 22,800,000.00 22,800,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Adjusted Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Adjusted Invested Amount 22,800,000.00 22,800,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 0.00 0.00
Available Cash Collateral Amount 38,000,000.00 38,000,000.00 0.00
Available Shared Collateral Amount 34,200,000.00 34,200,000.00 0.00
Spread Account 19,882,790.93 20,193,213.47 310,422.54
Servicing Base Amount 380,000,000.00 380,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 7.63%
Principal Allocation Pct 7.63%
Class A Floating Pct 94.00%
Class B Floating Pct 6.00%
Class A Principal Pct 94.00%
Class B Principal Pct 6.00%
</TABLE>
<TABLE>
<CAPTION>
Series
Allocations Trust 1995-B Class A Class B
- ------------- ---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Principal Collections 602,829,516.42 45,974,248.10 43,215,793.21 2,758,454.89
Finance Charge Collections 76,490,576.84 5,833,484.69 5,483,475.61 350,009.08
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
----- ----- ----
Available Funds 5,833,484.69 5,483,475.61 350,009.08
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 395,833.33 372,083.33 23,750.00
Monthly Interest 1,997,850.00 1,875,300.00 122,550.00
Monthly Servicing Fee 237,500.00 223,250.00 14,250.00
Defaulted Amounts 38,785,324.27 2,957,927.69 2,780,452.03 177,475.66
------------ ------------ ----------
5,589,111.03 5,251,085.36 338,025.66
Excess Spread 421,849.33 232,390.25 189,459.08
Required Amount 0.00 0.00 0.00
Cash Collateral Account
- -----------------------
Cash Collateral Fee 10,764.64
Risk-Free Fee 5,478.81
Interest on CCA Draw or Difference
between Loan Interest and
Deposit Interest 11,874.78
---------
Monthly Cash Collateral Fee 28,118.23
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Cash Collateral Account (continued)
- ------------------------------------
Quarterly Excess Spread Percentage 1.35%
Principal Payment Rate Calculation 12.14%
Calculated Current Month's Spread Account Cap 5.50%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 5.50%
Beginning Cash Collateral Amount 38,000,000.00
Required Cash Collateral Amount 38,000,000.00
Cash Collateral Account Draw 0.00
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 19,882,790.93
Required Spread Account Amount 20,900,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 1,017,209.07
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0.00
Controlled Accumulation Amount 89,300,000.00
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 48,932,175.79
Principal Shortfall 0.00
Shared Principal to Other Series 48,932,175.79
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 357,200,000.00
Ending Class B Invested Amount 22,800,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.38%
Revolving Investor Interest 880,000,000.00
Class A Invested Amount 357,200,000.00
Available Principal 91,330,306.81
Class A Accumulation Period Length 4
Reserve Account
- ---------------
Available Reserve Account Amount 0.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 10.75%
Reserve Account Factor 33.33%
Portfolio Adjusted Yield 2.36%
Reserve Account Funding Period Length 3
Reserve Account Funding Date 15-Mar-2000
Weighted Average Coupon 6.31%
Required Reserve Account Amount 0.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 0.00
Portfolio Yield - 3 month average 10.76%
Base Rate - 3 month average 8.31%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 2.46%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1996-A
<TABLE>
<CAPTION>
Distribution Date of: 15-Sep-97
Determined as of: 09-Sep-97
For the Monthly Period Ending: 31-Aug-97
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 31
Beginning Ending Change
------------ ------- -------
<S> <C> <C> <C>
Pool Balance (Principal) 4,982,685,431.66 4,971,943,069.69 (10,742,361.97)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 500,000,000.00 500,000,000.00 0.00
Class A Invested Amount 465,000,000.00 465,000,000.00 0.00
Class B Invested Amount 35,000,000.00 35,000,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 500,000,000.00 500,000,000.00 0.00
Class A Adjusted Invested Amount 465,000,000.00 465,000,000.00 0.00
Class B Adjusted Invested Amount 35,000,000.00 35,000,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 0.00 0.00
Available Cash Collateral Amount 50,000,000.00 50,000,000.00 0.00
Available Shared Collateral Amount 50,000,000.00 50,000,000.00 0.00
Spread Account 18,610,598.36 19,089,988.83 479,390.47
Servicing Base Amount 500,000,000.00 500,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 10.03%
Principal Allocation Pct 10.03%
Class A Floating Pct 93.00%
Class B Floating Pct 7.00%
Class A Principal Pct 93.00%
Class B Principal Pct 7.00%
</TABLE>
<TABLE>
<CAPTION>
Series
Allocations Trust 1996-A Class A Class B
- ------------ ---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Principal Collections 602,829,516.42 60,492,431.71 56,257,961.49 4,234,470.22
Finance Charge Collections 76,490,576.84 7,675,637.76 7,138,343.11 537,294.64
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
----- ----- ----
Available Funds 7,675,637.76 7,138,343.11 537,294.64
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 520,833.33 484,375.00 36,458.33
Monthly Interest 2,532,135.97 2,351,382.81 180,753.16
Monthly Servicing Fee 312,500.00 290,625.00 21,875.00
Defaulted Amounts 38,785,324.27 3,892,010.12 3,619,569.41 272,440.71
------------ ------------ ----------
7,257,479.43 6,745,952.22 511,527.21
Excess Spread 690,599.04 392,390.89 298,208.15
Required Amount 0.00 0.00 0.00
1 Month Libor Rate 5.652340%
- ------------------
Cash Collateral Account
- -----------------------
Cash Collateral Fee 26,909.72
Interest on CCA Draw 0.00
Total 26,909.72
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Cash Collateral Account (continued)
- ------------------------------------
Quarterly Excess Spread Percentage 1.79%
Principal Payment Rate Calculation 12.14%
Calculated Current Month's Spread Account Cap 4.25%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 4.25%
Beginning Cash Collateral Amount 50,000,000.00
Required Cash Collateral Amount 50,000,000.00
Cash Collateral Account Draw 0.00
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 18,610,598.36
Required Spread Account Amount 21,250,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 2,639,401.64
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0
Controlled Accumulation Amount 51,666,666.67
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 64,384,441.83
Principal Shortfall 0.00
Shared Principal to Other Series 64,384,441.83
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 465,000,000.00
Ending Class B Invested Amount 35,000,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.38%
Revolving Investor Interest 500,000,000.00
Class A Invested Amount 465,000,000.00
Available Principal 51,892,219.78
Class A Accumulation Period Length 9
Reserve Account
- ---------------
Available Reserve Account Amount 0.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 10.75%
Reserve Account Factor 75.00%
Portfolio Adjusted Yield 2.70%
Reserve Account Funding Period Length 5
Reserve Account Funding Date 15-Mar-2002
Weighted Average Coupon 6.08%
Required Reserve Account Amount 0.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 0.00
Portfolio Yield - 3 month average 10.76%
Base Rate - 3 month average 7.97%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 2.80%
</TABLE>
Exhibit 99.2
servcert
monthly
MONTHLY SERVICER'S CERTIFICATE
BANK ONE, COLUMBUS, NA
BANC ONE CREDIT CARD MASTER TRUST RUST
SERIES 1994-B
The undersigned, a duly authorized representative of BANK ONE,
COLUMBUS, NA, as Servicer ("Bank One"), pursuant to the Pooling and Servicing
Agreement dated as of November 1, 1994 (as amended and supplemented, the
"Agreement"), as supplemented by the Series 1994-B Supplement (as amended and
supplemented, the "Series Supplement"), between Bank One, as Seller and
Servicer, and Bankers Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. Bank One is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Sep-97.
---------
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects all its obligations under the
Agreement through the Monthly Period preceding such Distribution Date. [Or if
there has been a default in the performance of any such obligation, set forth in
detail the (i) nature of such default, (ii) the action taken by the Seller and
Servicer, if any, to remedy such default and (iii) the current status of each
such default.].
6. As of the date hereof, to the best knowledge of the undersigned, no
Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned, no
Lien has been placed on any of the Receivables other pursuant to the Agreement.
[or, if there is a Lien, such Lien consists of]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 9th day of September 1997.
--- --------------
BANK ONE, COLUMBUS, NA
as Servicer
By: /s/ Mark Stickle
------------------------------------------
Name: Mark Stickle
Title: Chief Financial Officer
<PAGE>
MONTHLY SERVICER'S CERTIFICATE E
BANK ONE, COLUMBUS, NA NA
BANC ONE CREDIT CARD MASTER TRUST RUST
SERIES 1994-C
The undersigned, a duly authorized representative of BANK ONE,
COLUMBUS, NA, as Servicer ("Bank One"), pursuant to the Pooling and Servicing
Agreement dated as of November 1, 1994 (as amended and supplemented, the
"Agreement"), as supplemented by the Series 1994-C Supplement (as amended and
supplemented, the "Series Supplement"), between Bank One, as Seller and
Servicer, and Bankers Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. Bank One is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Sep-97.
---------
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects all its obligations under the
Agreement through the Monthly Period preceding such Distribution Date. [Or if
there has been a default in the performance of any such obligation, set forth in
detail the (i) nature of such default, (ii) the action taken by the Seller and
Servicer, if any, to remedy such default and (iii) the current status of each
such default.].
6. As of the date hereof, to the best knowledge of the undersigned, no
Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned, no
Lien has been placed on any of the Receivables other pursuant to the Agreement.
[or, if there is a Lien, such Lien consists of]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 9th day of September 1997.
--- --------------
BANK ONE, COLUMBUS, NA
as Servicer
By: /s/ Mark Stickle
----------------------------------------------
Name: Mark Stickle
Title: Chief Financial Officer
<PAGE>
MONTHLY SERVICER'S CERTIFICATE E
BANK ONE, COLUMBUS, NA NA
BANC ONE CREDIT CARD MASTER TRUST RUST
SERIES 1995-A
The undersigned, a duly authorized representative of BANK ONE,
COLUMBUS, NA, as Servicer ("Bank One"), pursuant to the Pooling and Servicing
Agreement dated as of November 1, 1994 (as amended and supplemented, the
"Agreement"), as supplemented by the Series 1995-A Supplement (as amended and
supplemented, the "Series Supplement"), between Bank One, as Seller and
Servicer, and Bankers Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. Bank One is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Sep-97.
---------
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects all its obligations under the
Agreement through the Monthly Period preceding such Distribution Date. [Or if
there has been a default in the performance of any such obligation, set forth in
detail the (i) nature of such default, (ii) the action taken by the Seller and
Servicer, if any, to remedy such default and (iii) the current status of each
such default.].
6. As of the date hereof, to the best knowledge of the undersigned, no
Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned, no
Lien has been placed on any of the Receivables other pursuant to the Agreement.
[or, if there is a Lien, such Lien consists of]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 9th day of September 1997.
--- --------------
BANK ONE, COLUMBUS, NA
as Servicer
By: /s/ Mark Stickle
-------------------------------------------------
Name: Mark Stickle
Title: Chief Financial Officer
<PAGE>
MONTHLY SERVICER'S CERTIFICATE E
BANK ONE, COLUMBUS, NA NA
BANC ONE CREDIT CARD MASTER TRUST RUST
SERIES 1995-B
The undersigned, a duly authorized representative of BANK ONE,
COLUMBUS, NA, as Servicer ("Bank One"), pursuant to the Pooling and Servicing
Agreement dated as of November 1, 1994 (as amended and supplemented, the
"Agreement"), as supplemented by the Series 1995-B Supplement (as amended and
supplemented, the "Series Supplement"), between Bank One, as Seller and
Servicer, and Bankers Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. Bank One is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Sep-97.
---------
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects all its obligations under the
Agreement through the Monthly Period preceding such Distribution Date. [Or if
there has been a default in the performance of any such obligation, set forth in
detail the (i) nature of such default, (ii) the action taken by the Seller and
Servicer, if any, to remedy such default and (iii) the current status of each
such default.].
6. As of the date hereof, to the best knowledge of the undersigned, no
Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned, no
Lien has been placed on any of the Receivables other pursuant to the Agreement.
[or, if there is a Lien, such Lien consists of]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 9th day of September 1997.
--- --------------
BANK ONE, COLUMBUS, NA
as Servicer
By: /s/ Mark Stickle
----------------------------------------------------
Name: Mark Stickle
Title: Chief Financial Officer
<PAGE>
MONTHLY SERVICER'S CERTIFICATE E
BANK ONE, COLUMBUS, NA NA
BANC ONE CREDIT CARD MASTER TRUST RUST
SERIES 1996-A
The undersigned, a duly authorized representative of BANK ONE,
COLUMBUS, NA, as Servicer ("Bank One"), pursuant to the Pooling and Servicing
Agreement dated as of November 1, 1994 (as amended and supplemented, the
"Agreement"), as supplemented by the Series 1996-A Supplement dated as of March
27, 1996 (as amended and supplemented, the "Series Supplement"), between Bank
One, as Seller and Servicer, and Bankers Trust Company, as Trustee, does hereby
certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. Bank One is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Sep-97.
---------
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects all its obligations under the
Agreement through the Monthly Period preceding such Distribution Date. [Or if
there has been a default in the performance of any such obligation, set forth in
detail the (i) nature of such default, (ii) the action taken by the Seller and
Servicer, if any, to remedy such default and (iii) the current status of each
such default; if applicable].
6. As of the date hereof, to the best knowledge of the undersigned, no
Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned, no
Lien has been placed on any of the Receivables other than pursuant to the
Agreement. [or, if there is a Lien, such Lien consists of]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 9th day of September 1997.
--- --------------
BANK ONE, COLUMBUS, NA
as Servicer
By: /s/ Mark Stickle
------------------------------------------------
Name: Mark Stickle
Title: Chief Financial Officer
