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 June 20, 1997
HOUSEHOLD PRIVATE LABEL CREDIT CARD MASTER TRUST II
(Exact name of registrant as specified in Department of the
Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
Delaware 0-36050 Not Applicable
(State or other juris- (Commission File Number (IRS Employer
diction of incorporation of Registrant) Identification
of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
Exhibit Index appears on page 5 <PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated
June 20, 1997 pursuant to Section 3.04(b) of
the Pooling and Servicing Agreement dated as
of October 1, 1994 (the "Pooling and
Servicing Agreement") among HRSI Funding,
Inc. as Seller, Household Finance
Corporation, as Servicer, and Fist Trust of
New York (as successor in interest to
BankAmerica National Trust Company), as
Trustee, with respect to the Class A
Certificates and the Class B Certificates,
Series 1994-2.
-2-
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Private Label Credit Card Master Trust II by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD PRIVATE LABEL CREDIT CARD
MASTER TRUST II
(Registrant)
By: /s/ S. E. Casey
S. E. Casey, Assistant Secretary
Dated: June 25, 1997
- 3 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
99(a) 5
Monthly Servicing Report to Trustee dated June 20, 1997
pursuant to Section 3.04(b) of the Pooling and Servicing
Agreement dated as of October 1, 1994 (the "Pooling and
Servicing Agreement") among HRSI Funding, Inc. as Seller,
Household Finance Corporation, as Servicer, and First Trust
of New York, N.A. (as successor in interest to BankAmerica
National Trust Company), as Trustee, with respect to the
Class A Certificates and the Class B Certificates, Series
1994-2.
- 4 -
******************************************************************************
Household Finance Corporation
HRSI Funding, Inc. May-97
Household Private Label Credit Card Master Trust II, Series 1994-2 20-Jun-97
******************************************************************************
*** Trust Portfolio Activity Summary ***
Performance Ratios (expressed as a percentage of Principal Receivables)
Payment Rate 7.798%
Annualized Gross Cash Yield 20.851%
Annualized Default Rate 6.748%
Annualized Portfolio Yield 14.103%
Delinquency status of accounts: (Gross/Gross)
30 - 59 days (Del Stat 1) ($) 61,669,288.17
30 - 59 days (Del Stat 1) (%) 4.35%
60 - 89 days (Del Stat 2) ($) 30,919,816.63
60 - 89 days (Del Stat 2) (%) 2.18%
90+ days (Del Stat 3+)($) 94,314,393.67
90+ days (Del Stat 3+)(%) 6.65%
Total ($) 186,903,498.47
Total (%) 13.17%
Collections
Principal (discount applied) 82,961,261.58
Finance Charge (discount applied) 22,755,284.71
Other 0.00
Allocated Recoveries 802,696.32
Total 106,519,242.61
Aggregate Principal Shortfalls for Group 1 0.00
Adjustment Payments 0.00
Transfer Deposit Amount 0.00
Charge-Off Activity
Defaulted Receivables 7,623,979.82
Defaulted Receivables Repurchased Pursuant to Article 2.07 0.00
Defaulted Receivables Repurchased Pursuant to Article 3.03 0.00
Defaulted Amount 7,623,979.82
*** Reallocated Investor Finance Charge and Administrative Collections ***
Reallocated Investor Finance Charge and Administrative Collections
6,516,061.14
Investor Defaulted Amount 2,108,768.09
Series Adjusted Portfolio Yield 14.103%
*** Class A Invested Percentage Allocations ***
Class A Invested Percentage 82.0000000%
Fixed Class A Invested Percentage 82.0000000%
Class A Monthly Interest (Due) [Section 4.08(a)] 1,998,750.00
Overdue Class A Monthly Interest (Due) [Section 4.08(a)] 0.00
Class A Additional Interest (Due) [Section 4.08(a)] 0.00
Overdue Class A Additional Interest (Due) [Section 4.08(a)] 0.00
Class A Investor Default Amount 1,729,189.83
Allocable Servicing Fee (Due) [Section 3] 625,000.00
Previously unpaid Allocable Servicing Fee 0.00
Class A Required Amount [Section 4.10 (a)] 0.00
Funding of Class A Required Amount:
From Excess Reallocated FC&A to Pay Req. Amount [Section 4.13(a)] 0.00
From Cash Collateral Account Withdrawls [Section 4.14(b)] 0.00
From Subordinated Principal Collections [Section 4.15(a)] 0.00
Total ("Funded Class A Required Amount") 0.00
Class A Invested Percentage of Reallocated FC&A [Section 4.11(a)]5,343,170.13
Amount that constitutes Excess FC&A [Section 4.11(a)(iv)] 990,230.30
Funded Class A Required Amount 0.00
Excess Reallocated FC&A to cover previously unpaid Allocated Servicing Fee
[Sec 0.00
Total Available for Class A Invested Percentage Allocations 4,352,939.83
Class A Monthly Interest (Paid) 1,998,750.00
Overdue Class A Monthly Interest (Paid) 0.00
Class A Additional Interest (Paid) 0.00
Overdue Class A Additional Interest (Paid) 0.00
Reimb. of Class A Investor Default Amount (Paid) 1,729,189.83
Allocable Servicing Fee (Paid) 625,000.00
Previously unpaid Allocable Servicing Fee (Paid) 0.00
Class A Interest Shortfall 0.00
Class A Additional Interest Shortfall 0.00
*** Class B Invested Percentage Allocations ***
Class B Invested Percentage 6.0000000%
Fixed Class B Invested Percentage 6.0000000%
Class B Monthly Interest (Due) [Section 4.08(b)] 150,000.00
Overdue Class B Monthly Interest (Due) [Section 4.08(b)] 0.00
Class B Additional Interest (Due) [Section 4.08(b)] 0.00
Overdue Class B Additional Interest (Due) [Section 4.08(b)] 0.00
Class B Investor Default Amount 126,526.09
Excess current or overdue Class B Monthly Interest, Class B Additional
Interest or the cumulative Excess Interest 0.00
Funding of Excess current or overdue Class B Monthly Interest, Class B
Additional Interest or the cumulative Excess Interest:
From Excess Reallocated FC&A [Section 4.13(c)] 0.00
From Cash Collateral Account Withdrawl [Section 4.14(b)] 0.00
From Subordinated Principal Collections allocable to the Collateral Invest
0.00
Total Funded 0.00
Funding of Class B Investor Default Amount
From Excess Reallocated FC&A [Section 4.13(d)] 126,526.09
From Cash Collateral Account Withdrawl [Section 4.14(b)] 0.00
From Subordinated Principal Collections allocable to the Collateral
Invest 0.00
Total Funded 126,526.09
Class B Invested Percentage of Reallocated FC&A [Section 4.11(b)] 390,963.67
Amount that constitutes Excess FC&A [Section 4.11(b)(ii)] 240,963.67
Funded Excess current or overdue Class B Monthly Interest, Class B Additional
Interest or the cumulative Excess Interest: 0.00
Funded Class B Default Amount126,526.09
Total Available for Class B Floating Allocations 276,526.09
Class B Monthly Interest (Paid) 150,000.00
Overdue Class B Monthly Interest (Paid) 0.00
Class B Additional Interest (Paid) 0.00
Overdue Class B Additional Interest (Paid) 0.00
Reimbursement Class B Investor Default Amount (Paid) 126,526.09
Class B Interest Shortfall 0.00
Class B Addtional Interest Shortfall 0.00
*** Collateral Invested Percentage Allocations ***
Collateral Invested Percentage 12.0000000%
Fixed Collateral Invested Percentage 12.0000000%
Collateral Monthly Interest (Due) [Section 4.08(c)] 259,140.63
Overdue Collateral Monthly Interest (Due) [Section 4.08(c)] 0.00
Collateral Additional Interest (Due) [Section 4.08(c)] 0.00
Overdue Collateral Additional Interest (Due) [Section 4.08(c)] 0.00
Collateral Investor Default Amount 253,052.17
Collateral Invested Percentage of Reallocated FC&A [Section 4.11(b-1)]
781,927.34
Amount that constitutes Excess FC&A [Section 4.11(b-1)] 781,927.34
From Excess Reallocated FC&A to Fund Collateral Investor Default Amount
[Sectio 253,052.17
Total Available for Collateral Invested Percentage Allocations 253,052.17
Collateral Monthly Interest (Paid) 259,140.63
Overdue Collateral Monthly Interest (Paid) 0.00
Collateral Additional Interest (Paid) 0.00
Overdue Collateral Additional Interest (Paid) 0.00
Reimbursement of Collateral Default Amount (Paid) 253,052.17
Collateral Interest Shortfall 0.00
Collateral Additional Interest Shortfall 0.00
Series 1994-2 Monthly Interest
Collateral Rate Cap 6.6875000%
Collateral Monthly Interest (Subject to Collat. Rate Cap) 259,140.63
Series 1994-2 Monthly Interest 2,407,890.63
*** Reimbursement of Shortfalls ***
Excess Reallocated FC&A Collections
Sources of Excess Reallocated FC&A Collections Excess Class A Reallocated
FC&A [Section 4.11(a)(iv)] 990,230.30
Excess Class B Reallocated FC&A [Section 4.11(b)(ii)] 240,963.67
Excess Collateral Interest Reallocated FC&A [Section 4.11(b-1)] 781,927.34
Total 2,013,121.31
Uses of Excess Reallocated FC&A Collections [Section 4.13]
Allocated to Class A Required Amount [Section 4.13(a)] 0.00
Allocated to reimburse Class A Investor Charge-Offs [Section 4.13(b)]0.00
Allocated to pay current or overdue Class B Monthly Interest, Class B
Additional Interest or the Cumulative Excess Interest Amount [Section
4.13(c)] 0.00
Allocated to fund the Class B Investor Default Amount [Section 4.13(d)]
126,526.09
Allocated to reimburse Class B Invested Amount reductions [Section
4.13(e)] 0.00
Allocated to Collateral Monthly Interest [Section 4.13(f)] 259,140.63
Allocated to unpaid Allocated Servicing Fee from previous periods [Section
0.00
Allocated to fund the Collateral Default Amount [Section 4.13(h)]
253,052.17
Allocated to reimburse Collateral Invested Amount reductions [Section
4.13( 0.00
Allocated to the Cash Collateral Account [Section 4.13(j)] 0.00
Allocated pursuant to the Collateral Agreement [Section 4.13(k)]
1,374,402.42
Subordinated Principal Collections [Section 4.15] 4,130,426.86
Allocated to Class A Required Amount [Section 4.15(a)] 0.00
Allocated to pay current or overdue Class B Monthly Interest, Class B
Additional Interest or the Cumulative Excess Interest Amount [Section
4.15(b)] 0.00
Allocated to fund the Class B Investor Default Amount [Section 4.15(c)]
0.00
*** Amortization Allocations ***
Accumulation Period Determination
Required Aggregate Accumulation Amount N/A
Accumulation Period Amount N/A
Accumulation Period Length N/A
Accumulation Period? NO
Amortization Events
Three Month Average Series Adjusted Portfolio Yield Test Not Triggered
Other Amortization Events Not Triggered
Transaction Period REVOLVING
Principal Allocation Percentage 27.6596756%
Available Investor Principal Collections
Investor Principal Collections 22,048,913.88
Subordinated Principal Collections 0.00
Series Allocable Miscellaneous Payments 0.00
Series 1994-2 Excess Principal Collections 0.00
[Subordinated Series Reallocated Principal Collections] 0.00
Available Investor Principal Collections 22,048,913.88
Collateral Principal Collections 3,006,670.07
Class A Controlled Amortization Amount 0.00
Class A Controlled Distribution Amount 0.00
Class A Monthly Principal (Due) [Section 4.09(a)] 0.00
Class A Monthly Principal (Paid) 0.00
Class A Deficit Controlled Amortization Amount 0.00
Total Available to Pay Class B Monthly Principal 25,055,583.95
Class B Controlled Amortization Amount 0.00
Class B Controlled Distribution Amount 0.00
Class B Monthly Principal (Due) [Section 4.09(b)] 0.00
Class B Monthly Principal (Paid) 0.00
Class B Deficit Controlled Amortization Amount 0.00
Available Investor Prin. Collecions (after paying A &B)22,048,913.88
Collateral Monthly Principal (Due) [Section 4.09(c)] 0.00
Collateral Monthly Principal (Paid) 0.00
Series 1994-2 Principal Shortfall 0.00
Trust Excess Principal Collections 25,055,583.95
*** Funding Accounts ***
Principal Funding Account deposit 0.00
Withdraw of Funded Deficit Controlled Amortization Amount 0.00
Withdraw of Excess (Paid to Seller) 0.00
Principal Funding Account Balance 0.00
Funded Deficit Controlled Amortization Amoun 0.00
[ Class B Principal Funding Account deposits 0.00
Principal Distributed to Class B Certificateholders 0.00
Class B Principal Funding Account Balance N/A
Class A Interest Payment/Deposit
from Collection Account1,998,750.00
from Principal Funding Account 0.00
Paid to Class A Certificateholders 1,998,750.00
Interest Funding Account Balance 0.00
Class B Interest Payment/Deposit
from Collection Account 150,000.00
from Principal Funding Account 0.00
Paid to Class B Certificateholders 150,000.00
Interest Funding Account Balance] 0.00
Class A Investor Charge-Offs 0.00
Reimbursement of Class A Investor Charge-Offs 0.00
Cumulative Unreimbursed Class A Investor Charge-Offs 0.00
Reduction of Class B Invested Amount (Other than Class B ICO) 0.00
Class B Investor Charge-Offs 0.00
Reimbursement of Class B Investor Charge-Offs 0.00
Cumulative Unreimbursed Class B Investor Charge-Offs and Reductions 0.00
Reduction of the Collateral Invested Amount (Other than Collateral CO) 0.00
Collateral Charge-Offs 0.00
Reimbursement of Collateral Invested Amount reductions 0.00
Cumulative Unreimbursed Collateral Invested Amount Reductions 0.00
Previous month's ending Collateral Invested Amount 45,000,000.00
Current Month's ending Collateral Invested Amount 45,000,000.00
Unpaid current Allocated Servicing Fee 0.00
Reimbursement of unpaid Allocated Servicing Fee 0.00
Cumulative unreimbursed unpaid Allocated Serving Fe 0.00
Total Distributions to Class A, B, CIA (principal and interest and defaults)
4,516,658.72
*** Receivables Outstanding & Invested Amounts ***
Principal Receivables outstanding [Last Month] 1,355,764,271.63
Average Principal outstanding based upon additional accounts 1,355,764,271.63
Principal Receivables outstanding [End of Month] 1,296,059,399.90
Finance Charge and Administrative Receivables outstanding 122,713,901.03
Class A Invested Amount 307,500,000.00
Class B Invested Amount 22,500,000.00
Collateral Invested Amount 45,000,000.00
Invested Amount 375,000,000.00
Series Adjusted Invested Amount 375,000,000.00
Revolving or Accumulation Period 375,000,000.00
Controlled Amortization Period N/A
Seller Specified Numerator 0.00
125% Amount 0.00
Early Amortization Period N/A
Series Required Seller Amount 37,500,000.00
Required Collateral Amount 45,000,000.00
Available Collateral Amount 45,000,000.00
Class A Certificate Balance 307,500,000.00
Class B Certificate Balance 22,500,000.00
*** Cash Collateral Account ***
Cash Collateral Account [Section 4.14]
Begin Balance 0.00
Deposit of Excess Collections 0.00
Withdrawal Amounts [Section 4.14 (b)]
For Class A Required Amount 0.00
To reimburse Class A Investor Charge-Offs 0.00
To pay current or overdue Class B Monthly Interest, Class B Additional
Interest or the Cumulative Excess Interest Amount 0.00
To fund the Class B Investor Default Amount 0.00
To reimburse Class B Invested Amount reductions 0.00
Total 0.00
Deposit of Collateral Monthly Principal 0.00
Net Available 0.00
Required Cash Collateral Amount 0.00
Collateral Surplus 0.00
Cash Collateral Account Surplus 0.00
End Balance 0.00
Collateral Surplus (Prime) 0.00
Cash Collateral Account Surplus (Prime) 0.00
***************************************************************************
Household Finance Corporation
HRSI Funding, Inc.
Household Private Label Credit Card Master Trust II, Series 1994-2
**************************************************************************
CLASS A CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest 6.500000
2. Principal distribution per $1,000 interest 0.000000
3. Interest distribution per $1,000 interest 6.500000
B. Performance of Trust
1. Collections of Receivables
(a) Total Collections 106,519,242.61
(b) Collections of Finance Charge & Admin Receivables 23,557,981.03
(c) Collections of Principal 82,961,261.58
2. Allocation of Receivables
(a) Class A Invested Percentage 82.0000000%
(b) Principal Allocation Percentage N/A
3. Class A Principal
(a) Total Amount Paid / Deposited to Principal Funding Account N/A
(b) Total amount on deposit in Principal Funding Account N/A
4. Delinquent Balances (Gross/Gross)
(a) 30 - 59 days (Del Stat 1) -- ($) 61,669,288.17
(%) 4.35%
(b) 60 - 89 days (Del Stat 2) -- ($) 30,919,816.63
(%) 2.18%
(c) 90+ days (Del Stat 3+) -- ($) 94,314,393.67
(%) 6.65%
5. Class A Investor Default Amount 1,729,189.83
6. Class A Investor Charge-Offs;
Reimbursement of Charge-Offs.
(a) Class A Investor Charge-Offs, if any, for the Distribution
Date(s) with respect to the Payment Date 0.000000
(b) The amount of Item 6(a) per $1,000 interest 0.000000
(c) Total reimbursed to Trust in respect of Class A Investor Charge-off
0.000000
(d) The amount of Item 6(c) per $1,000 interest 0.000000
(e) The amount, if any, by which the outstanding principal balance of
the Class A Certificates exceeds the Class A Invested Amount as of
the end of such Payment Date 0.000000
7. Allocable Servicing Fee paid for the Distribution Date(s) with respect
to the Payment Date 625,000.00
8. Deficit Controlled Amortization Amount for such Payment Date 0.00
C. Class A Pool Factor 1.00000000
D. Receivables Balances
1. Principal Receivables as of close of business on the last day
of the preceding Due Period 1,296,059,399.90
2. Finance Charge and Administrative Receivables as of the close of
business on the last day of the preceding Due Period 122,713,901.03
E. Class B Certificates
1. Class B Invested Amount as of the end of the Payment Date 22,500,000.00
2. Available Collateral Invested Amount as of the end of the Payment Date
45,000,000.00
******************************************************************************
Household Finance Corporation
HRSI Funding, Inc.
Household Private Label Credit Card Master Trust II, Series 1994-2
******************************************************************************
CLASS B CERTIFICATEHOLDER'S STATEMENT
A. Information Regarding Distributions
1. Total distribution per $1,000 interest 6.666667
2. Principal distribution per $1,000 interest 0.000000
3. Interest distribution per $1,000 interest 6.666667
B. Performance of Trust
1. Collections of Receivables
(a) Total Collections 106,519,242.61
(b) Collections of FC&A 23,557,981.03
(c) Collections of Principal 82,961,261.58
2. Allocation of Receivables
(a) Class B Invested Percentage 6.0000000%
(b) Principal Allocation Percentage N/A
3. Class B Principal
(a) Total Amount Paid / Deposited to the Principal Funding Account NA
(b) Total amount on deposit in Principal Funding Account NA
4. Delinquent Balances (Gross/Gross)
(a) 30 - 59 days (Del Stat 1) -- ($) 61,669,288.17
(%) 4.35%
(b) 60 - 89 days (Del Stat 2) -- ($) 30,919,816.63
(%) 2.18%
(c) 90+ days (Del Stat 3+) -- ($) 94,314,393.67
(%) 6.65%
5. Class B Investor Default Amount 126,526.09
6. Class B Investor Charge-Offs;
Reimbursement of Charge-Offs.
(a) Class B Investor Charge-Offs and other reductions, if any,
for the Distribution Date(s) with respect to the
Payment Date 0.000000
(b) The amount of Item 6(a) per $1,000 interest 0.000000
(c) Total reimbursed to Trust in respect of Class B Investor Charge-Offs
and other reductions 0.000000
(d) The amount of Item 6(c) per $1,000 interest 0.000000
(e) The amount, if any, by which the outstanding principal balance of of
the Class B Certificates exceeds the Class B Invested Amount as of
the end of such Payment Date 0.000000
7. Available Cash Collateral Amount
(a) Available Cash Collateral Amount at close of business
on the Payment Date 0.000000
(b) Available Cash Collateral Amount as a % of the Class B Invested
Amount, each at close of business on the Payment Date 0.00%
8. Available Collateral Invested Amount 45,000,000.00
9. Deficit Controlled Amortization Amount for such Payment Date 0.00
C. Class B Pool Factor 1.00000000
D. Receivables Balances
1. Principal Receivables as of close of business on the last day
of the preceding Due Period 1,296,059,399.90
2. Finance Charge and Administrative Receivables as of the close of
business on the last day of the preceding Due Period 122,713,901.03
