|
|
|
|
|
|
|
|
|
|
|
|
|
<PAGE> 1
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) October 17, 1996
AT&T Universal Card Funding Corp.
(Originator of the AT&T Universal Card Master Trust)
AT&T Universal Card Master Trust
(Issuer of the Asset Backed Certificates)
------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Delaware 33-93806 59-3325080
-------------------- ---------------- --------------
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
</TABLE>
<TABLE>
<S> <C>
5201 Amelia Earhart Drive, Suite 1001
Salt Lake City, Utah 84116
-------------------------------------- ---------
(Address of Principal Executive Office) (Zip Code)
</TABLE>
Registrant's telephone number, including area code (801) 578-0619
N/A
-------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
<PAGE> 2
INFORMATION TO BE INCLUDED IN THE REPORT
Items 1-4. Not Applicable
Item 5. The Certificateholder Statements for the month ending
September 30, 1996 for the AT&T Universal Card Master Trust
Series 1995-1, Series 1995-2, Series 1995-3, Series 1996-1,
Series 1996-2, and Series 1996-3 Certificates were distributed
on October 17, 1996.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits
20.1, 20.2, 20.3, 20.4, 20.5, and 20.6.
Exhibit 20.1 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-1.
Exhibit 20.2 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-2.
Exhibit 20.3 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-3.
Exhibit 20.4 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1996-1.
Exhibit 20.5 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1996-2.
<PAGE> 3
<TABLE>
<S> <C>
Exhibit 20.6 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Master Trust Series
1996-3.
</TABLE>
SIGNATURES
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.
AT&T UNIVERSAL FUNDING CORP.
By /s/ Robert A. Miller
------------------------------
Name: Robert A. Miller
Title: Assistant Treasurer
<PAGE> 4
<TABLE>
<CAPTION>
EXHIBIT INDEX
Exhibit Description Page
- ------- ----------- ----
<S> <C>
20.1 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-1.
20.2 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-2.
20.3 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-3.
20.4 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1996-1.
20.5 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1996-2.
20.6 Monthly Servicing Report dated
October 17, 1996 with respect to the
AT&T Universal Card Master Trust Series
1996-3.
</TABLE>
<PAGE> 1
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1995-1 Distribution Date 17-Oct-96
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor
- ----------------------
<S> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Beginning Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 870,000,000.00 60,000,000.00 70,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000%
Finance Charge Collections 11,817,708.76 815,014.40 950,850.13
Total Yield
Trust Portfolio Yield
Principal Collections 158,578,155.93 10,936,424.55 12,759,161.97
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,343,051.83 299,520.82 349,440.95
Monthly Default Rate
Net Monthly Default Rate
Recoveries 458,088.20 31,592.29 36,857.67
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 870,000,000.00 60,000,000.00 70,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1995-1 Series 1995-3 Series 1996-1
- -------------------
<S> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00
Average Rate 5.60205% 5.87073% 5.81448%
Investor Finance Charge Collections 14,110,111.45 10,582,583.59 14,110,111.45
Investor Principal Collections 182,273,742.45 136,705,306.84 182,273,742.45
Investor Default Amount Due 4,992,013.60 3,744,010.20 4,992,013.60
Investor Monthly Interest Due 4,668,377.75 3,669,205.44 4,845,398.92
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor
- ----------------------------
<S> <C> <C> <C>
Investor Coupon 5.58000% 5.70000% 5.79219%
Investor Monthly Interest Due 4,045,500.00 285,000.00 337,877.75
Investor Outstanding Interest Due 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 (1,348.13)
---- ---- ----------
Investor Total Interest Due 4,045,500.00 285,000.00 336,529.62
Investor Default Amount Due 4,343,051.83 299,520.82 349,440.95
Investor Monthly Fees Due 1,450,000.00 100,000.00 116,666.67
Investor Additional Amounts Due 0.00 0.00 0.00
Total Due (update col R if adding series) 9,838,551.83 684,520.82 802,637.23
- ------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest and Principal Funding Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1995-1 Distribution Date 17-Oct-96
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Investor Transferor Series Trust
- ---------------------- Interest Interest Allocations Totals
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance 8,207,113,299.92
Special Funding Account Balance 0.00
Beginning Total Principal Balance 8,207,113,299.92
Series Allocation Percentage 15.38%
Beginning Invested /Transferor Amount 1,000,000,000.00 262,632,815.37 1,262,632,815.37
Floating Allocation Percentage 79.1995890% 20.8004110% 100.0000000%
Principal Allocation Percentage 79.1995890% 20.8004110% 100.0000000%
Finance Charge Collections 13,583,573.29 3,567,492.10 17,151,065.38 111,481,924.99
Total Yield 16.30%
Trust Portfolio Yield 10.94%
Principal Collections 182,273,742.45 47,871,066.15 230,144,808.59 1,495,941,255.87
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate 18.23%
Defaults 4,992,013.60 1,311,066.59 6,303,080.19 40,970,021.21
Monthly Default Rate 5.99%
Net Monthly Default Rate 5.36%
Recoveries 526,538.16 138,286.20 664,824.36 4,321,358.33
Adjustments (11,960,223.75)
New Receivables 1,426,490,972.41
Ending Principal Receivables Balance 8,108,653,219.01
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,108,653,219.01
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 1,000,000,000.00 247,485,110.62 1,247,485,110.62 8,108,653,219.01
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1996-2 Series 1996-3 Group Total
- -------------------
<S> <C> <C> <C>
Invested Amount 1,000,000,000.00 1,000,000,000.00 4,750,000,000.00
Average Rate 5.66188% 5.75270% 5.73351%
Investor Finance Charge Collections 14,110,111.45 14,110,111.45 67,023,029.37
Investor Principal Collections 182,273,742.45 182,273,742.45 865,800,276.62
Investor Default Amount Due 4,992,013.60 4,992,013.60 23,712,064.60
Investor Monthly Interest Due 4,718,231.92 4,793,919.42 22,695,133.44
Investor Monthly Fees Due 1,666,666.67 777,777.78 7,027,777.78
Investor Additional Amounts Due 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Total
- ----------------------------
<S> <C>
Investor Coupon
Investor Monthly Interest Due 4,668,377.75
Investor Outstanding Interest Due 0.00
Investor Additional Interest Due (1,348.13)
----------
Investor Total Interest Due 4,667,029.62
Investor Default Amount Due 4,992,013.60
Investor Monthly Fees Due 1,666,666.67
Investor Additional Amounts Due 0.00
----
Total Due (update col R if adding series) 11,325,709.88
- ------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 14,189,194.55
Interest and Principal Funding Investment Proceeds 21,331.97
Series Adjusted Portfolio Yield 11.06%
Base Rate 7.60%
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 12,365,931.23 851,351.67 993,243.62 14,210,526.52
Monthly Interest Paid 4,045,500.00 285,000.00 0.00 4,330,500.00
Investor Default Amount Paid 4,343,051.83 0.00 0.00 4,343,051.83
Excess Spread 3,977,379.39 566,351.67 993,243.62 5,536,974.69
- -------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 299,520.82 299,520.82
Required Amount 0.00 299,520.82 299,520.82
- -------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 336,529.62 336,529.62
Investor Default Paid 0.00 299,520.82 349,440.95 648,961.77
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,884,816.64
- -------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 0.00 0.00 336,529.62 336,529.62
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 336,529.62 336,529.62
Ending Certificate Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 0.0000 0.0000 4.8076
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 4.8076
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 3,910,650.00 275,500.00 4,186,150.00
2nd Collection Accounts Deposit 4,045,500.00 285,000.00 4,330,500.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 7,956,150.00 560,500.00 8,516,650.00
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 216,713 42,449 20,736 15,405 22,551 317,854
Balance of Accounts 461,935,671 93,993,936 58,288,716 45,735,153 71,069,444 731,022,919.67
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest 0.0039%
Prior Month Account Owner Retained
Interest Factor 0.2826%
Current Month Account Owner Retained
Interest Factor 0.2865%
</TABLE>
<PAGE> 3
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1995-1
Pursuant to the Pooling and Servicing Agreement dated as of August 1,
1995 (hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1995-1 Supplement dated as of 08/01/95
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to the
Series 1995-1 Certificateholders and the performance of the AT&T Universal Card
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of 10/17/96 with
respect to the performance of the Trust during the month of 9/1/96-9/30/96 is
set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 1995-1 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 4
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount 0.00000000
----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount 0.00000000
----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 5
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $336,529.62
-----------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /S/ TOM DONAHUE
----------------------
Name: Tom Donahue
Title: Servicing Officer
C-3
<PAGE> 6
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,207,113,299.92
-----------------
Beginning of the Month Finance Charge Receivables: $88,744,753.43
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,295,858,053.36
-----------------
Removed Principal Receivables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,108,653,219.01
-----------------
End of the Month Finance Charge Receivables: $87,289,119.28
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,195,942,338.29
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $247,485,110.62
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $93,993,935.82
--------------
61-90 Days Delinquent $58,288,716.34
--------------
90+ Days Delinquent $116,804,596.76
---------------
Total 30+ Days Delinquent $269,087,248.92
---------------
Defaulted Accounts During the Month $40,970,021.21
--------------
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $870,000,000
------------
Class B Initial Invested Amount $60,000,000
-----------
Collateral Initial Invested Amount $70,000,000
-----------
INITIAL INVESTED AMOUNT $1,000,000,000
--------------
Class A Invested Amount $870,000,000.00
---------------
Class B Invested Amount $60,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
INVESTED AMOUNT $1,000,000,000
--------------
Class A Adjusted Invested Amount $870,000,000.00
---------------
Class B Adjusted Invested Amount $60,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
ADJUSTED INVESTED AMOUNT $1,000,000,000
--------------
MONTHLY SERVICING FEE $1,666,666.67
-------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE
FOR ALL SERIES IN GROUP 1 5.73%
----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $67,023,029.37
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $23,712,064.60
--------------
GROUP 1 INVESTOR MONTHLY FEES $7,027,777.78
-------------
GROUP 1 INVESTOR MONTHLY INTEREST $22,695,133.44
--------------
SERIES 1995-1 INFORMATION
SERIES 1995-1 ALLOCATION PERCENTAGE 15.38%
-----
SERIES 1995-1 ALLOCABLE FINANCE CHARGE $17,151,065.38
--------------
COLLECTIONS
SERIES 1995-1 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-1 ALLOCABLE DEFAULTED AMOUNT $6,303,080.19
-------------
SERIES 1995-1 MONTHLY FEES $1,666,666.67
-------------
SERIES 1995-1 ALLOCABLE PRINCIPAL COLLECTIONS $230,144,808.59
---------------
SERIES 1995-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 79.20%
-----
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,583,573.29
--------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
--------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $14,189,194.55
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 79.20%
-----
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
--------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reallocated $12,365,931.23
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $12,365,931.23
--------------
Class A Monthly Interest $4,045,500.00
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,343,051.83
-------------
TOTAL CLASS A EXCESS SPREAD $3,977,379.39
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
----
CLASS B AVAILABLE FUNDS $851,351.67
-----------
Class B Monthly Interest $285,000.00
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $566,351.67
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
----
COLLATERAL AVAILABLE FUNDS $993,243.62
-----------
Collateral Interest Servicing Fee (if
applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $993,243.62
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $5,536,974.69
-------------
</TABLE>
C-6
<PAGE> 9
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge $0.00
Offs -----
Excess Spread Applied to Class B Required Amount $299,520.82
-----------
Excess Spread Applied to Reductions of Class B $0.00
-----
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Monthly $336,529.62
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $349,440.95
-----------
Excess Spread Applied to Reductions of $0.00
Collateral Invested Amount Pursuant to Clauses -----
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
Collateral Interest Holder -----
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $2,884,816.64
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $18,479,334.62
FOR ALL ALLOCATION SERIES --------------
SERIES 1995-1 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
-----
ALLOCATED TO SERIES 1995-1
Excess Finance Charge Collections Applied to $0.00
-----
Class A Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $0.00
-----
Class B Required Amount
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to
Unpaid Monthly Servicing Fee $0.00
-----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 10
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
Reductions of Collateral Invested Amount -----
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Reserve Account -----
Excess Finance Charge Collections Applied to $0.00
Other Amounts Owed to Collateral Interest Holder -----
YIELD AND BASE RATE---
Base Rate (Current Month) 7.60%
-----
Base Rate (Prior Month) 7.41%
-----
Base Rate (Two Months Ago) 8.14%
-----
THREE MONTH AVERAGE BASE RATE 7.72%
-----
Series Adjust Portfolio Yield (Current Month) 11.06%
------
Series Adjusted Portfolio Yield (Prior Month) 10.81%
------
Series Adjusted Portfolio Yield (Two Months Ago) 11.09%
------
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 10.99%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
------
Class A Principal Collections $158,578,155.93
---------------
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $10,936,424.55
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $12,759,161.97
--------------
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-1 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 11
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $187,265,756.05
PRINCIPAL SHARING SERIES ---------------
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
BY PRINCIPAL PAYMENTS) -----
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
THAN BY PRINCIPAL PAYMENTS) -----
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /S/ TOM DONAHUE
--------------------
Name: Tom Donahue
Title: Servicing Officer
<PAGE> 1
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1995-2 Distribution Date 17-Oct-96
- --------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Floating Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 79.1995890%
Principal Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 79.1995890%
Finance Charge Collections 9,168,911.97 483,914.80 534,853.20 10,187,679.97
Total Yield
Trust Portfolio Yield
Principal Collections 123,034,776.15 6,493,502.07 7,177,028.61 136,705,306.84
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,369,609.18 177,840.48 196,560.54 3,744,010.20
Monthly Default Rate
Net Monthly Default Rate
Recoveries 355,413.26 18,757.92 20,732.44 394,903.62
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group II Information Series 1995-2 Series Series Series
- --------------------
<S> <C> <C> <C> <C>
Invested Amount 750,000,000.00 0.00 0.00 0.00
Average Rate 5.95146% 0.0000% 0.0000% 0.0000%
Investor Finance Charge Collections 10,582,583.59 0.00 0.00 0.00
Investor Principal Collections 136,705,306.84 0.00 0.00 0.00
Investor Default Amount Due 3,744,010.20 0.00 0.00 0.00
Investor Monthly Interest Due 3,719,665.61 0.00 0.00 0.00
Investor Monthly Fees Due 1,250,000.00 0.00 0.00 0.00
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.95000% 6.10000% 5.84219%
Investor Monthly Interest Due 3,346,875.00 181,093.75 191,696.86 3,719,665.61
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 (2,706.60) (2,706.60)
---- ---- ---------- ----------
Investor Total Interest Due 3,346,875.00 181,093.75 188,990.26 3,716,959.01
Investor Default Amount Due 3,369,609.18 177,840.48 196,560.54 3,744,010.20
Investor Monthly Fees Due 1,125,000.00 59,375.00 65,625.00 1,250,000.00
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 7,841,484.18 418,309.23 451,175.79 8,710,969.21
- --------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 10,585,290.19
Interest and Principal Funding Investment Proceeds 65,428.83
Series Adjusted Portfolio Yield 11.05%
Base Rate 7.95%
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1995-2 Distribution Date 17-Oct-96
- -----------------------------------------------------------------------------------------------------------------------
Transferor Series Trust
Monthly Trust Activity Interest Allocations Totals
- ----------------------
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,207,113,299.92
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,207,113,299.92
Series Allocation Percentage 11.54%
Beginning Invested /Transferor Amount 196,974,611.53 946,974,611.53
Floating Allocation Percentage 20.8004110% 100.0000000%
Principal Allocation Percentage 20.8004110% 100.0000000%
Finance Charge Collections 2,675,619.07 12,863,299.04 111,481,924.99
Total Yield 16.30%
Trust Portfolio Yield 10.94%
Principal Collections 35,903,299.61 172,608,606.45 1,495,941,255.87
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 18.23%
Defaults 983,299.94 4,727,310.14 40,970,021.21
Monthly Default Rate 5.99%
Net Monthly Default Rate 5.36%
Recoveries 103,714.65 498,618.27 4,321,358.33
Adjustments (11,960,223.75)
New Receivables 1,426,490,972.41
Ending Principal Receivables Balance 8,108,653,219.01
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,108,653,219.01
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 185,613,832.96 935,613,832.96 8,108,653,219.01
- -----------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group II Information Group Total
- --------------------
<S> <C>
Invested Amount 750,000,000.00
Average Rate 5.95146%
Investor Finance Charge Collections 10,582,583.59
Investor Principal Collections 136,705,306.84
Investor Default Amount Due 3,744,010.20
Investor Monthly Interest Due 3,719,665.61
Investor Monthly Fees Due 1,250,000.00
Investor Additional Amounts Due 0.00
- -----------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- -----------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest and Principal Funding Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 9,592,190.00 502,801.28 555,727.73 10,650,719.02
Monthly Interest Paid 3,346,875.00 181,093.75 0.00 3,527,968.75
Investor Default Amount Paid 3,369,609.18 0.00 0.00 3,369,609.18
Excess Spread 2,875,705.82 321,707.53 555,727.73 3,753,141.09
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 177,840.48 177,840.48
Required Amount 0.00 177,840.48 177,840.48
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 188,990.26 188,990.26
Investor Default Paid 0.00 177,840.48 196,560.54 374,401.02
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 1,939,749.81
- ------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 2,706.60
Principal Charge-Offs 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Interest Distribution 3,346,875.00 181,093.75 188,990.26 3,716,959.01
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 3,346,875.00 181,093.75 188,990.26 3,716,959.01
Ending Certificate Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 4.9583 5.0833 4.7998
- ------------------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 4.9583 5.0833 4.7998
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 216,713 42,449 20,736 15,405 22,551 317,854
Balance of Accounts 461,935,671 93,993,936 58,288,716 45,735,153 71,069,444 731,022,919.67
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest 0.0039%
Prior Month Account Owner Retained
Interest Factor 0.2826%
Current Month Account Owner Retained
Interest Factor 0.2865%
</TABLE>
<PAGE> 3
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1995-2
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1995-2 Supplement dated as of 11/15/95
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to the
Series 1995-2 Certificateholders and the performance of the AT&T Universal Card
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of 10/17/96, and
with respect to the performance of the Trust during the month of 9/1/96-9/30/96
is set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 1995-2 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $4.95833333
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $4.95833333
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 4
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $5.08333333
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $5.08333333
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 5
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $188,990.26
-----------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /S/ TOM DONAHUE
-----------------------------
Name: Tom Donahue
Title: Servicing Officer
C-3
<PAGE> 6
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,207,113,299.92
-----------------
Beginning of the Month Finance Charge Receivables: $88,744,753.43
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,295,858,053.36
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,108,653,219.01
-----------------
End of the Month Finance Charge Receivables: $87,289,119.28
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,195,942,338.29
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $185,613,832.96
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $93,993,935.82
--------------
61-90 Days Delinquent $58,288,716.34
--------------
90+ Days Delinquent $116,804,596.76
---------------
Total 30+ Days Delinquent $269,087,248.92
---------------
Defaulted Accounts During the Month $40,970,021.21
--------------
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $675,000,000
------------
Class B Initial Invested Amount $35,625,000
-----------
Collateral Initial Invested Amount $39,375,000
-----------
INITIAL INVESTED AMOUNT $750,000,000
------------
Class A Invested Amount $675,000,000.00
---------------
Class B Invested Amount $35,625,000.00
--------------
Collateral Invested Amount $39,375,000.00
--------------
INVESTED AMOUNT $750,000,000
------------
Class A Adjusted Invested Amount $675,000,000.00
---------------
Class B Adjusted Invested Amount $35,625,000.00
--------------
Collateral Invested Amount $39,375,000.00
--------------
ADJUSTED INVESTED AMOUNT $750,000,000
------------
MONTHLY SERVICING FEE $1,250,000.00
-------------
INVESTOR DEFAULT AMOUNT $3,744,010.20
-------------
GROUP II INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.95%
IN GROUP II ----
GROUP II INVESTOR FINANCE CHARGE COLLECTIONS $10,582,583.59
--------------
GROUP II INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP II INVESTOR DEFAULT AMOUNT $3,744,010.20
-------------
GROUP II INVESTOR MONTHLY FEES $1,250,000.00
-------------
GROUP II INVESTOR MONTHLY INTEREST $3,719,665.61
-------------
SERIES 1995-2 INFORMATION
SERIES 1995-2 ALLOCATION PERCENTAGE 11.54%
-----
SERIES 1995-2 ALLOCABLE FINANCE CHARGE $12,863,299.04
--------------
COLLECTIONS
SERIES 1995-2 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-2 ALLOCABLE DEFAULTED AMOUNT $4,727,310.14
-------------
SERIES 1995-2 MONTHLY FEES $1,250,000.00
-------------
SERIES 1995-2 ALLOCABLE PRINCIPAL COLLECTIONS $172,608,606.45
---------------
SERIES 1995-2 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 79.20%
-----
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $10,187,679.97
--------------
INVESTOR DEFAULT AMOUNT $3,744,010.20
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $10,585,290.19
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 79.20%
-----
AVAILABLE PRINCIPAL COLLECTIONS $136,705,306.84
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 90.00%
-----
Class A Floating Percentage of Reallocated $9,592,190.00
-------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $9,592,190.00
-------------
Class A Monthly Interest $3,346,875.00
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $3,369,609.18
-------------
TOTAL CLASS A EXCESS SPREAD $2,875,705.82
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 4.75%
----
CLASS B AVAILABLE FUNDS $502,801.28
-----------
Class B Monthly Interest $181,093.75
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $321,707.53
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 5.25%
----
COLLATERAL AVAILABLE FUNDS $555,727.73
-----------
Collateral Interest Servicing Fee (if
applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $555,727.73
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $3,753,141.09
-------------
</TABLE>
C-6
<PAGE> 9
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Chargeoffs $0.00
-----
Excess Spread Applied to Class B Required Amount $177,840.48
-----------
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e) -----
Excess Spread Applied to Collateral Monthly $188,990.26
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,250,000.00
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $196,560.54
-----------
Excess Spread Applied to Reductions of $0.00
Collateral Invested Amount Pursuant to Clauses -----
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
Collateral Interest Holder -----
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $1,939,749.81
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $18,479,334.62
FOR ALL ALLOCATION SERIES --------------
SERIES 1995-2 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1995-2 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 10
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
Reductions of Collateral Invested Amount -----
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Reserve Account -----
Excess Finance Charge Collections Applied to $0.00
Other Amounts Owed to Collateral Interest Holder -----
YIELD AND BASE RATE---
Base Rate (Current Month) 7.95%
-----
Base Rate (Prior Month) 7.93%
-----
Base Rate (Two Months Ago) 7.98%
-----
THREE MONTH AVERAGE BASE RATE 7.95%
-----
Series Adjust Portfolio Yield (Current Month) 11.05%
------
Series Adjusted Portfolio Yield (Prior Month) 11.01%
------
Series Adjusted Portfolio Yield (Two Months Ago) 11.38%
------
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 11.15%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 90.00%
------
Class A Principal Collections $123,034,776.15
---------------
CLASS B PRINCIPAL PERCENTAGE 4.75%
-----
Class B Principal Collections $6,493,502.07
-------------
COLLATERAL PRINCIPAL PERCENTAGE 5.25%
-----
Collateral Principal Collections $7,177,028.61
-------------
AVAILABLE PRINCIPAL COLLECTIONS $136,705,306.84
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-2 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 11
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $140,449,317.04
PRINCIPAL SHARING SERIES ---------------
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
BY PRINCIPAL PAYMENTS) -----
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
THAN BY PRINCIPAL PAYMENTS) -----
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /S/ TOM DONAHUE
------------------------
Name: Tom Donahue
Title: Servicing Officer
<PAGE> 1
<TABLE>
<CAPTION>
AT&T Universal Card
AT&T Universal Funding Corporation Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1995-3 Distribution Date 17-Oct-96
- --------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor
- ----------------------
<S> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 652,500,000.00 45,000,000.00 52,500,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000%
Finance Charge Collections 8,863,281.57 611,260.80 713,137.60
Total Yield
Trust Portfolio Yield
Principal Collections 118,933,616.95 8,202,318.41 9,569,371.48
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,257,288.87 224,640.61 262,080.71
Monthly Default Rate
Net Monthly Default Rate
Recoveries 343,566.15 23,694.22 27,643.25
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 652,500,000.00 45,000,000.00 52,500,000.00
- --------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1995-1 Series 1995-3 Series 1996-1
- -------------------
<S> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00
Average Rate 5.60205% 5.87073% 5.81448%
Investor Finance Charge Collections 14,110,111.45 10,582,583.59 14,110,111.45
Investor Principal Collections 182,273,742.45 136,705,306.84 182,273,742.45
Investor Default Amount Due 4,992,013.60 3,744,010.20 4,992,013.60
Investor Monthly Interest Due 4,668,377.75 3,669,205.44 4,845,398.92
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor
- ----------------------------
<S> <C> <C> <C>
Investor Coupon 5.86578% 5.97578% 5.84219%
Investor Monthly Interest Due 3,189,517.88 224,091.75 255,595.81
Investor Outstanding Interest Due 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 (1,738.52)
---- ---- ----------
Investor Total Interest Due 3,189,517.88 224,091.75 253,857.29
Investor Default Amount Due 3,257,288.87 224,640.61 262,080.71
Investor Monthly Fees Due 1,087,500.00 75,000.00 87,500.00
Investor Additional Fees Due 0.00 0.00 0.00
---- ---- ----
Total 7,534,306.75 523,732.36 603,438.01
- ---------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest and Principal Funding Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Card
AT&T Universal Funding Corporation Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1995-3 Distribution Date 17-Oct-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Investor Transferor Series Trust
- ---------------------- Interest Interest Allocations Totals
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance 8,207,113,299.92
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,207,113,299.92
Series Allocation Percentage 11.54%
Beginning Invested /Transferor Amount 750,000,000.00 196,974,611.53 946,974,611.53
Floating Allocation Percentage 79.1995890% 20.8004110% 100.0000000%
Principal Allocation Percentage 79.1995890% 20.8004110% 100.0000000%
Finance Charge Collections 10,187,679.97 2,675,619.07 12,863,299.04 111,481,924.99
Total Yield 16.30%
Trust Portfolio Yield 10.94%
Principal Collections 136,705,306.84 35,903,299.61 172,608,606.45 1,495,941,255.87
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate 18.23%
Defaults 3,744,010.20 983,299.94 4,727,310.14 40,970,021.21
Monthly Default Rate 5.99%
Net Monthly Default Rate 5.36%
Recoveries 394,903.62 103,714.65 498,618.27 4,321,358.33
Adjustments (11,960,223.75)
New Receivables 1,426,490,972.41
Ending Principal Receivables Balance 8,108,653,219.01
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,108,653,219.01
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 750,000,000.00 185,613,832.96 935,613,832.96 8,108,653,219.01
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1996-2 Series 1996-3 Group Total
- -------------------
<S> <C> <C> <C>
Invested Amount 1,000,000,000.00 1,000,000,000.00 4,750,000,000.00
Average Rate 5.66188% 5.75270% 5.73351%
Investor Finance Charge Collections 14,110,111.45 14,110,111.45 67,023,029.37
Investor Principal Collections 182,273,742.45 182,273,742.45 865,800,276.62
Investor Default Amount Due 4,992,013.60 4,992,013.60 23,712,064.60
Investor Monthly Interest Due 4,718,231.92 4,793,919.42 22,695,133.44
Investor Monthly Fees Due 1,666,666.67 777,777.78 7,027,777.78
Investor Additional Amounts Due 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Total
- ----------------------------
<S> <C>
Investor Coupon
Investor Monthly Interest Due 3,669,205.44
Investor Outstanding Interest Due 0.00
Investor Additional Interest Due (1,738.52)
----------
Investor Total Interest Due 3,667,466.92
Investor Default Amount Due 3,744,010.20
Investor Monthly Fees Due 1,250,000.00
Investor Additional Fees Due 0.00
----
Total 8,661,477.12
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 10,809,818.04
Interest and Principal Funding Investment Proceeds 39,929.73
Series Adjusted Portfolio Yield 11.37%
Base Rate 7.87%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 9,444,471.42 648,589.08 756,687.26 10,849,747.77
Monthly Interest Paid 3,189,517.88 224,091.75 0.00 3,413,609.63
Investor Default Amount Paid 3,257,288.87 0.00 0.00 3,257,288.87
Excess Spread 2,997,664.67 424,497.33 756,687.26 4,178,849.27
- -----------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 224,640.61 224,640.61
Required Amount 0.00 224,640.61 224,640.61
- -----------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 253,857.29 253,857.29
Investor Default Paid 0.00 224,640.61 262,080.71 486,721.33
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 2,188,270.65
- -----------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- -----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
Interest Distribution 9,781,188.14 687,214.71 253,857.29 10,722,260.15
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 9,781,188.14 687,214.71 253,857.29 10,722,260.15
Ending Certificate Balance 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 14.9903 15.2714 4.8354
Interest Distribution Per 1,000 Certificate 14.9903 15.2714 4.8354
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Accounts Deposit 3,508,469.66 246,500.93 3,754,970.59
2nd Collection Accounts Deposit 3,083,200.61 216,622.03 3,299,822.64
3rd Collection Accounts Deposit 3,189,517.88 224,091.75 3,413,609.63
Quarterly Interest Distribution 9,781,188.14 687,214.71 10,468,402.86
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 216,713 42,449 20,736 15,405 22,551 317,854
Balance of Accounts 461,935,671 93,993,936 58,288,716 45,735,153 71,069,444 731,022,919.67
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest 0.0039%
Prior Month Account Owner Retained
Interest Factor 0.2826%
Current Month Account Owner Retained
Interest Factor 0.2865%
</TABLE>
<PAGE> 3
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1995-3
Pursuant to the Pooling and Servicing Agreement dated as of August 1,
1995 (hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1995-3 Supplement dated as of 11/15/95
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to the
Series 1995-3 Certificateholders and the performance of the AT&T Universal Card
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of 10/17/96 and
with respect to the performance of the Trust during the month of 9/1/96-9/30/96
is set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 1995-3 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $14.99032666
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $14.99032666
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 4
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $15.27143800
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $15.27143800
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 5
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $253,857.29
-----------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /S/ TOM DONAHUE
-----------------------------
Name: Tom Donahue
Title: Servicing Officer
C-3
<PAGE> 6
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,207,113,299.92
-----------------
Beginning of the Month Finance Charge Receivables: $88,744,753.43
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,295,858,053.36
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,108,653,219.01
-----------------
End of the Month Finance Charge Receivables: $87,289,119.28
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,195,942,338.29
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $185,613,832.96
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $93,993,935.82
--------------
61-90 Days Delinquent $58,288,716.34
--------------
90+ Days Delinquent $116,804,596.76
---------------
Total 30+ Days Delinquent $269,087,248.92
---------------
Defaulted Accounts During the Month $40,970,021.21
--------------
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $652,500,000
------------
Class B Initial Invested Amount $45,000,000
-----------
Collateral Initial Invested Amount $52,500,000
-----------
INITIAL INVESTED AMOUNT $750,000,000
------------
Class A Invested Amount $652,500,000.00
---------------
Class B Invested Amount $45,000,000.00
--------------
Collateral Invested Amount $52,500,000.00
--------------
INVESTED AMOUNT $750,000,000
------------
Class A Adjusted Invested Amount $652,500,000.00
---------------
Class B Adjusted Invested Amount $45,000,000.00
--------------
Collateral Invested Amount $52,500,000.00
--------------
ADJUSTED INVESTED AMOUNT $750,000,000
------------
MONTHLY SERVICING FEE $1,250,000.00
-------------
INVESTOR DEFAULT AMOUNT $3,744,010.20
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.75%
IN GROUP 1 -----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $14,110,111.45
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INVESTOR MONTHLY FEES $777,777.78
-----------
GROUP 1 INVESTOR MONTHLY INTEREST $4,793,919.42
-------------
SERIES 1995-3 INFORMATION
SERIES 1995-3 ALLOCATION PERCENTAGE 11.54%
------
SERIES 1995-3 ALLOCABLE FINANCE CHARGE $12,863,299.04
--------------
COLLECTIONS
SERIES 1995-3 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-3 ALLOCABLE DEFAULTED AMOUNT $4,727,310.14
-------------
SERIES 1995-3 MONTHLY FEES $1,250,000.00
-------------
SERIES 1995-3 ALLOCABLE PRINCIPAL COLLECTIONS $172,608,606.45
---------------
SERIES 1995-3 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 79.20%
------
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $10,187,679.97
--------------
INVESTOR DEFAULT AMOUNT $3,744,010.20
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $10,809,818.04
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 79.20%
------
AVAILABLE PRINCIPAL COLLECTIONS $136,705,306.84
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
------
Class A Floating Percentage of Reallocated $9,444,471.42
-------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $9,444,471.42
-------------
Class A Monthly Interest $3,189,517.88
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $3,257,288.87
-------------
TOTAL CLASS A EXCESS SPREAD $2,997,664.67
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
-----
CLASS B AVAILABLE FUNDS $648,589.08
-----------
Class B Monthly Interest $224,091.75
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $424,497.33
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $756,687.26
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $756,687.26
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $4,178,849.27
-------------
</TABLE>
C-6
<PAGE> 9
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge Offs $0.00
-----
Excess Spread Applied to Class B Required Amount $224,640.61
-----------
Excess Spread Applied to Reductions of Class B $0.00
-----
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Monthly Interest $253,857.29
-----------
Excess Spread Applied to Unpaid Monthly Servicing Fee $1,250,000.00
-------------
Excess Spread Applied Collateral Default Amount $262,080.71
-----------
Excess Spread Applied to Reductions of $0.00
-----
Collateral Invested Amount Pursuant to Clauses
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
Collateral Interest Holder -----
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $2,188,270.65
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $18,479,334.62
FOR ALL ALLOCATION SERIES --------------
SERIES 1995-3 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1995-3 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 10
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Collateral Invested Amount
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Reserve Account
Excess Finance Charge Collections Applied to $0.00
-----
Other Amounts Owed to Collateral Interest Holder
YIELD AND BASE RATE---
Base Rate (Current Month) 7.87%
-----
Base Rate (Prior Month) 7.67%
-----
Base Rate (Two Months Ago) 8.46%
-----
THREE MONTH AVERAGE BASE RATE 8.00%
-----
Series Adjust Portfolio Yield (Current Month) 11.37%
------
Series Adjusted Portfolio Yield (Prior Month) 11.11%
------
Series Adjusted Portfolio Yield (Two Months Ago) 11.46%
------
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 11.31%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
------
Class A Principal Collections $118,933,616.95
---------------
CLASS B PRINCIPAL PERCENTAGE 6.00%
-----
Class B Principal Collections $8,202,318.41
-------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
-----
Collateral Principal Collections $9,569,371.48
-------------
AVAILABLE PRINCIPAL COLLECTIONS $136,705,306.84
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-3 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
-----
PRINCIPAL SHARING SERIES
</TABLE>
C-8
<PAGE> 11
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $140,449,317.04
PRINCIPAL SHARING SERIES
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
-----
BY PRINCIPAL PAYMENTS)
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
-----
THAN BY PRINCIPAL PAYMENTS)
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /S/ TOM DONAHUE
-------------------------------
Name: Tom Donahue
Title: Servicing Officer
<PAGE> 1
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1996-1
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Floating Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 79.1995890%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 79.1995890%
Finance Charge Collections 11,546,037.29 1,086,685.86 950,850.13 13,583,573.29
Total Yield
Trust Portfolio Yield
Principal Collections 154,932,681.08 14,581,899.40 12,759,161.97 182,273,742.45
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,243,211.56 399,361.09 349,440.95 4,992,013.60
Monthly Default Rate
Net Monthly Default Rate
Recoveries 447,557.44 42,123.05 36,857.67 526,538.16
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1995-1 Series 1995-3 Series 1996-1 Series 1996-2
- -------------------
<S> <C> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.60205% 5.87073% 5.81448% 5.66188%
Investor Finance Charge Collections 14,110,111.45 10,582,583.59 14,110,111.45 14,110,111.45
Investor Principal Collections 182,273,742.45 136,705,306.84 182,273,742.45 182,273,742.45
Investor Default Amount Due 4,992,013.60 3,744,010.20 4,992,013.60 4,992,013.60
Investor Monthly Interest Due 4,668,377.75 3,669,205.44 4,845,398.92 4,718,231.92
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.80078% 5.93578% 5.84219%
Investor Monthly Interest Due 4,108,885.83 395,718.67 340,794.42 4,845,398.92
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 (883.31) (883.31)
---- ---- ------- --------
Investor Total Interest Due 4,108,885.83 395,718.67 339,911.10 4,844,515.60
Investor Default Amount Due 4,243,211.56 399,361.09 349,440.95 4,992,013.60
Investor Monthly Fees Due 1,416,666.67 133,333.33 116,666.67 1,666,666.67
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 9,768,764.06 928,413.09 806,018.72 11,503,195.87
- ----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 14,366,215.71
Interest and Principal Funding Investment Proceeds 16,276.01
Series Adjusted Portfolio Yield 11.27%
Base Rate 7.81%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Distribution Date 17-Oct-96
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,207,113,299.92
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,207,113,299.92
Series Allocation Percentage 15.38%
Beginning Invested /Transferor Amount 262,632,815.37 1,262,632,815.37
Floating Allocation Percentage 20.8004110% 100.0000000%
Principal Allocation Percentage 20.8004110% 100.0000000%
Finance Charge Collections 3,567,492.10 17,151,065.38 111,481,924.99
Total Yield 16.30%
Trust Portfolio Yield 10.94%
Principal Collections 47,871,066.15 230,144,808.59 1,495,941,255.87
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 18.23%
Defaults 1,311,066.59 6,303,080.19 40,970,021.21
Monthly Default Rate 5.99%
Net Monthly Default Rate 5.36%
Recoveries 138,286.20 664,824.36 4,321,358.33
Adjustments (11,960,223.75)
New Receivables 1,426,490,972.41
Ending Principal Receivables Balance 8,108,653,219.01
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,108,653,219.01
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 247,485,110.62 1,247,485,110.62 8,108,653,219.01
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1996-3 Group Total
- -------------------
<S> <C> <C>
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.75270% 5.73351%
Investor Finance Charge Collections 14,110,111.45 67,023,029.37
Investor Principal Collections 182,273,742.45 865,800,276.62
Investor Default Amount Due 4,992,013.60 23,712,064.60
Investor Monthly Interest Due 4,793,919.42 22,695,133.44
Investor Monthly Fees Due 777,777.78 7,027,777.78
Investor Additional Amounts Due 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- ----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest and Principal Funding Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 12,227,559.37 1,149,297.26 1,005,635.10 14,382,491.72
Monthly Interest Paid 4,108,885.83 395,718.67 0.00 4,504,604.50
Investor Default Amount Paid 4,243,211.56 0.00 0.00 4,243,211.56
Excess Spread 3,875,461.97 753,578.59 1,005,635.10 5,634,675.66
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 399,361.09 399,361.09
Required Amount 0.00 399,361.09 399,361.09
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 339,911.10 339,911.10
Investor Default Paid 0.00 399,361.09 349,440.95 748,802.04
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,879,295.85
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 883.31
Principal Charge-Offs 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 12,600,583.22 1,213,537.24 339,911.10 14,154,031.56
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 12,600,583.22 1,213,537.24 339,911.10 14,154,031.56
Ending Certificate Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 14.8242 15.1692 4.8559
Interest Distribution Per 1,000 Certificate 14.8242 15.1692 4.8559
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,519,774.42 435,290.53 4,955,064.95
2nd Collection Accounts Deposit 3,971,922.97 382,528.04 4,354,451.01
3rd Collection Accounts Deposit 4,108,885.83 395,718.67 4,504,604.50
Quarterly Interest Distribution 12,600,583.22 1,213,537.24 13,814,120.46
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 216,713 42,449 20,736 15,405 22,551 317,854
Balance of Accounts 461,935,671 93,993,936 58,288,716 45,735,153 71,069,444 731,022,919.67
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest 0.0039%
</TABLE>
<PAGE> 3
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1996-1
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-1 Supplement dated as of 04/30/96
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to the
Series 1996-1 Certificateholders and the performance of the AT&T Universal Card
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of 10/17/96, and
with respect to the performance of the Trust during the month of 9/1/96-9/30/96
is set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 1996-1 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $14.82421556
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $14.82421556
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 4
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
(2) The amount of Class A Investors -----
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
(3) The total amount reimbursed in -----
respect of Class A Investor Charge
Offs $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $15.16921546
(2) The amount of the distribution ------------
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $15.16921546
(3) The amount of the distribution ------------
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 5
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
(3) The total amount reimbursed in -----
respect of such reductions in the
Class B Invested Amount $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $339,911.10
(2) The amount distributed to the -----------
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
(2) The total amount reimbursed in -----
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /S/ TOM DONAHUE
---------------------
Name: Tom Donahue
Title: Servicing Officer
C-3
<PAGE> 6
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,207,113,299.92
-----------------
Beginning of the Month Finance Charge Receivables: $88,744,753.43
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,295,858,053.36
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,108,653,219.01
-----------------
End of the Month Finance Charge Receivables: $87,289,119.28
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,195,942,338.29
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $247,485,110.62
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $93,993,935.82
--------------
61-90 Days Delinquent $58,288,716.34
--------------
90+ Days Delinquent $116,804,596.76
---------------
Total 30+ Days Delinquent $269,087,248.92
---------------
Defaulted Accounts During the Month $40,970,021.21
--------------
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $850,000,000
------------
Class B Initial Invested Amount $80,000,000
-----------
Collateral Initial Invested Amount $70,000,000
-----------
INITIAL INVESTED AMOUNT $1,000,000,000
--------------
Class A Invested Amount $850,000,000.00
---------------
Class B Invested Amount $80,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
INVESTED AMOUNT $1,000,000,000
--------------
Class A Adjusted Invested Amount $850,000,000.00
---------------
Class B Adjusted Invested Amount $80,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
ADJUSTED INVESTED AMOUNT $1,000,000,000
--------------
MONTHLY SERVICING FEE $1,666,666.67
-------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.75%
IN GROUP 1 -----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $14,110,111.45
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INVESTOR MONTHLY FEES $777,777.78
-----------
GROUP 1 INVESTOR MONTHLY INTEREST $4,793,919.42
-------------
SERIES 1996-1 INFORMATION
SERIES 1996-1 ALLOCATION PERCENTAGE 15.38%
------
SERIES 1996-1 ALLOCABLE FINANCE CHARGE $17,151,065.38
COLLECTIONS --------------
SERIES 1996-1 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1996-1 ALLOCABLE DEFAULTED AMOUNT $6,303,080.19
-------------
SERIES 1996-1 MONTHLY FEES $1,250,000.00
-------------
SERIES 1996-1 ALLOCABLE PRINCIPAL COLLECTIONS $230,144,808.59
---------------
SERIES 1996-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 79.20%
------
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,583,573.29
--------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $14,366,215.71
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 79.20%
------
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $12,227,559.37
Investor Finance Charge Collections --------------
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $12,227,559.37
--------------
Class A Monthly Interest $4,108,885.83
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,243,211.56
-------------
TOTAL CLASS A EXCESS SPREAD $3,875,461.97
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
-----
CLASS B AVAILABLE FUNDS $1,149,297.26
-------------
Class B Monthly Interest $395,718.67
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $753,578.59
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $1,005,635.10
-------------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $1,005,635.10
-------------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $5,634,675.66
-------------
</TABLE>
C-6
<PAGE> 9
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge Offs $0.00
-----
Excess Spread Applied to Class B Required Amount $399,361.09
-----------
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e) -----
Excess Spread Applied to Collateral Monthly $339,911.10
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $349,440.95
-----------
Excess Spread Applied to Reductions of $0.00
Collateral Invested Amount Pursuant to Clauses -----
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
Collateral Interest Holder -----
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $2,879,295.85
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $21,358,630.47
FOR ALL ALLOCATION SERIES --------------
SERIES 1996-1 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-1 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 10
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
Reductions of Collateral Invested Amount -----
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Reserve Account -----
Excess Finance Charge Collections Applied to $0.00
Other Amounts Owed to Collateral Interest Holder -----
YIELD AND BASE RATE---
Base Rate (Current Month) 7.81%
-----
Base Rate (Prior Month) 7.60%
-----
Base Rate (Two Months Ago) 8.39%
-----
THREE MONTH AVERAGE BASE RATE 7.93%
-----
Series Adjust Portfolio Yield (Current Month) 11.27%
------
Series Adjusted Portfolio Yield (Prior Month) 11.01%
------
Series Adjusted Portfolio Yield (Two Months Ago) 11.34%
------
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 11.21%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
------
Class A Principal Collections $154,932,681.08
---------------
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $14,581,899.40
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $12,759,161.97
--------------
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1996-1 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 11
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $187,265,756.05
PRINCIPAL SHARING SERIES ---------------
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
BY PRINCIPAL PAYMENTS) -----
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
THAN BY PRINCIPAL PAYMENTS) -----
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /S/ TOM DONAHUE
---------------------------
Name: Tom Donahue
Title: Servicing Officer
<PAGE> 1
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1996-2 Distribution Date 17-Oct-96
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Floating Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 79.1995890%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 79.1995890%
Finance Charge Collections 11,546,037.29 1,086,685.86 950,850.13 13,583,573.29
Total Yield
Trust Portfolio Yield
Principal Collections 154,932,681.08 14,581,899.40 12,759,161.97 182,273,742.45
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,243,211.56 399,361.09 349,440.95 4,992,013.60
Monthly Default Rate
Net Monthly Default Rate
Recoveries 447,557.44 42,123.05 36,857.67 526,538.16
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1995-1 Series 1995-3 Series 1996-1 Series 1996-2
- -------------------
<S> <C> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.60205% 5.87073% 5.81448% 5.66188%
Investor Finance Charge Collections 14,110,111.45 10,582,583.59 14,110,111.45 14,110,111.45
Investor Principal Collections 182,273,742.45 136,705,306.84 182,273,742.45 182,273,742.45
Investor Default Amount Due 4,992,013.60 3,744,010.20 4,992,013.60 4,992,013.60
Investor Monthly Interest Due 4,668,377.75 3,669,205.44 4,845,398.92 4,718,231.92
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.63250% 5.77250% 5.89219%
Investor Monthly Interest Due 3,989,687.50 384,833.33 343,711.08 4,718,231.92
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Investor Total Interest Due 3,989,687.50 384,833.33 343,711.08 4,718,231.92
Investor Default Amount Due 4,243,211.56 399,361.09 349,440.95 4,992,013.60
Investor Monthly Fees Due 1,416,666.67 133,333.33 116,666.67 1,666,666.67
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 9,649,565.73 917,527.75 809,818.70 11,376,912.18
- ---------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 14,239,048.71
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 11.10%
Base Rate 7.66%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1996-2 Distribution Date 17-Oct-96
- ----------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,207,113,299.92
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,207,113,299.92
Series Allocation Percentage 15.38%
Beginning Invested /Transferor Amount 262,632,815.37 1,262,632,815.37
Floating Allocation Percentage 20.8004110% 100.0000000%
Principal Allocation Percentage 20.8004110% 100.0000000%
Finance Charge Collections 3,567,492.10 17,151,065.38 111,481,924.99
Total Yield 16.30%
Trust Portfolio Yield 10.94%
Principal Collections 47,871,066.15 230,144,808.59 1,495,941,255.87
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 18.23%
Defaults 1,311,066.59 6,303,080.19 40,970,021.21
Monthly Default Rate 5.99%
Net Monthly Default Rate 5.36%
Recoveries 138,286.20 664,824.36 4,321,358.33
Adjustments (11,960,223.75)
New Receivables 1,426,490,972.41
Ending Principal Receivables Balance 8,108,653,219.01
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,108,653,219.01
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 247,485,110.62 1,247,485,110.62 8,108,653,219.01
- ----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1996-3 Group Total
- -------------------
<S> <C> <C>
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.75270% 5.73351%
Investor Finance Charge Collections 14,110,111.45 67,023,029.37
Investor Principal Collections 182,273,742.45 865,800,276.62
Investor Default Amount Due 4,992,013.60 23,712,064.60
Investor Monthly Interest Due 4,793,919.42 22,695,133.44
Investor Monthly Fees Due 777,777.78 7,027,777.78
Investor Additional Amounts Due 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- ----------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest and Principal Funding Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 12,103,191.41 1,139,123.90 996,733.41 14,239,048.71
Monthly Interest Paid 3,989,687.50 384,833.33 0.00 4,374,520.83
Investor Default Amount Paid 4,243,211.56 0.00 0.00 4,243,211.56
Excess Spread 3,870,292.35 754,290.56 996,733.41 5,621,316.32
- ---------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 399,361.09 399,361.09
Required Amount 0.00 399,361.09 399,361.09
- ---------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 343,711.08 343,711.08
Investor Default Paid 0.00 399,361.09 349,440.95 748,802.04
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,862,136.53
- ---------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ---------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 14,894,833.34 1,436,711.11 343,711.08 16,675,255.54
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 14,894,833.34 1,436,711.11 343,711.08 16,675,255.54
Ending Certificate Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 17.5233 17.9589 4.9102
Interest Distribution Per 1,000 Certificate 17.5233 17.9589 4.9102
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 7,048,447.92 679,872.22 7,728,320.14
2nd Collection Accounts Deposit 3,856,697.92 372,005.56 4,228,703.48
3rd Collection Accounts Deposit 3,989,687.50 384,833.33 4,374,520.83
Quarterly Interest Distribution 14,894,833.34 1,436,711.11 16,331,544.45
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 216,713 42,449 20,736 15,405 22,551 317,854
Balance of Accounts 461,935,671 93,993,936 58,288,716 45,735,153 71,069,444 731,022,919.67
30+Days Delinquency Rate 3.2787%
Change in Account Owner
Retained Interest 0.0039%
Prior Month Account Owner
Retained Interest Factor 0.2826%
Current Month Account Owner
Retained Interest Factor 0.2865%
</TABLE>
<PAGE> 3
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1996-2
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-2 Supplement dated as of 6/30/96
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to the
Series 1996-2 Certificateholders and the performance of the AT&T Universal Card
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of 10/17/96, and
with respect to the performance of the Trust during the month of 9/1/96-9/30/96
is set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 1996-2 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $17.52333334
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $17.52333334
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 4
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
(2) The amount of Class A Investors -----
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
(3) The total amount reimbursed in -----
respect of Class A Investor Charge
Offs $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $17.95888892
(2) The amount of the distribution ------------
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $17.95888892
(3) The amount of the distribution ------------
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 5
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
(3) The total amount reimbursed in -----
respect of such reductions in the
Class B Invested Amount $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $343,711.08
(2) The amount distributed to the -----------
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
(2) The total amount reimbursed in -----
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /S/ TOM DONAHUE
---------------------------
Name: Tom Donahue
Title: Servicing Officer
C-3
<PAGE> 6
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,207,113,299.92
-----------------
Beginning of the Month Finance Charge Receivables: $88,744,753.43
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,295,858,053.36
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,108,653,219.01
-----------------
End of the Month Finance Charge Receivables: $87,289,119.28
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,195,942,338.29
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $247,485,110.62
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $93,993,935.82
--------------
61-90 Days Delinquent $58,288,716.34
--------------
90+ Days Delinquent $116,804,596.76
---------------
Total 30+ Days Delinquent $269,087,248.92
---------------
Defaulted Accounts During the Month $40,970,021.21
--------------
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $850,000,000
------------
Class B Initial Invested Amount $80,000,000
-----------
Collateral Initial Invested Amount $70,000,000
-----------
INITIAL INVESTED AMOUNT $1,000,000,000
--------------
Class A Invested Amount $850,000,000.00
---------------
Class B Invested Amount $80,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
INVESTED AMOUNT $1,000,000,000
--------------
Class A Adjusted Invested Amount $850,000,000.00
---------------
Class B Adjusted Invested Amount $80,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
ADJUSTED INVESTED AMOUNT $1,000,000,000
--------------
MONTHLY SERVICING FEE $1,666,666.67
-------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.75%
IN GROUP 1 -----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $14,110,111.45
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INVESTOR MONTHLY FEES $777,777.78
-----------
GROUP 1 INVESTOR MONTHLY INTEREST $4,793,919.42
-------------
SERIES 1996-2 INFORMATION
SERIES 1996-2 ALLOCATION PERCENTAGE 15.38%
------
SERIES 1996-2 ALLOCABLE FINANCE CHARGE $17,151,065.38
--------------
COLLECTIONS
SERIES 1996-2 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1996-2 ALLOCABLE DEFAULTED AMOUNT $6,303,080.19
-------------
SERIES 1996-2 MONTHLY FEES $1,250,000.00
-------------
SERIES 1996-2 ALLOCABLE PRINCIPAL COLLECTIONS $230,144,808.59
---------------
SERIES 1996-2 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 79.20%
------
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,583,573.29
--------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $14,239,048.71
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 79.20%
------
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
------
Class A Floating Percentage of Reallocated $12,103,191.41
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $12,103,191.41
--------------
Class A Monthly Interest $3,989,687.50
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,243,211.56
-------------
TOTAL CLASS A EXCESS SPREAD $3,870,292.35
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
-----
CLASS B AVAILABLE FUNDS $1,139,123.90
-------------
Class B Monthly Interest $384,833.33
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $754,290.56
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $996,733.41
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $996,733.41
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $5,621,316.32
-------------
</TABLE>
C-6
<PAGE> 9
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge Offs $0.00
-----
Excess Spread Applied to Class B Required Amount $399,361.09
-----------
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e) -----
Excess Spread Applied to Collateral Monthly $343,711.08
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $349,440.95
-----------
Excess Spread Applied to Reductions of $0.00
Collateral Invested Amount Pursuant to Clauses -----
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
Collateral Interest Holder -----
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $2,862,136.53
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $15,617,198.09
FOR ALL ALLOCATION SERIES --------------
SERIES 1996-2 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-2 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 10
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
Reductions of Collateral Invested Amount -----
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Reserve Account -----
Excess Finance Charge Collections Applied to $0.00
Other Amounts Owed to Collateral Interest Holder -----
YIELD AND BASE RATE---
Base Rate (Current Month) 7.66%
-----
Base Rate (Prior Month) 7.47%
-----
Base Rate (Two Months Ago) 6.00%
-----
THREE MONTH AVERAGE BASE RATE 7.04%
-----
Series Adjust Portfolio Yield (Current Month) 11.10%
------
Series Adjusted Portfolio Yield (Prior Month) 10.86%
------
Series Adjusted Portfolio Yield (Two Months Ago) 10.07%
------
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 10.68%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
------
Class A Principal Collections $154,932,681.08
---------------
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $14,581,899.40
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $12,759,161.97
--------------
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1996-2 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 11
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $187,265,756.05
PRINCIPAL SHARING SERIES ---------------
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
BY PRINCIPAL PAYMENTS) -----
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
THAN BY PRINCIPAL PAYMENTS) -----
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /S/ TOM DONAHUE
---------------------------
Name: Tom Donahue
Title: Servicing Officer
<PAGE> 1
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1996-3 Distribution Date 17-Oct-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Floating Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 79.1995890%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 79.1995890%
Finance Charge Collections 11,546,037.29 1,086,685.86 950,850.13 13,583,573.29
Total Yield
Trust Portfolio Yield
Principal Collections 154,932,681.08 14,581,899.40 12,759,161.97 182,273,742.45
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,243,211.56 399,361.09 349,440.95 4,992,013.60
Monthly Default Rate
Net Monthly Default Rate
Recoveries 447,557.44 42,123.05 36,857.67 526,538.16
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1995-1 Series 1995-3 Series 1996-1 Series 1996-2
- -------------------
<S> <C> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.60205% 5.87073% 5.81448% 5.66188%
Investor Finance Charge Collections 14,110,111.45 10,582,583.59 14,110,111.45 14,110,111.45
Investor Principal Collections 182,273,742.45 136,705,306.84 182,273,742.45 182,273,742.45
Investor Default Amount Due 4,992,013.60 3,744,010.20 4,992,013.60 4,992,013.60
Investor Monthly Interest Due 4,668,377.75 3,669,205.44 4,845,398.92 4,718,231.92
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.72500% 5.92500% 5.89219%
Investor Monthly Interest Due 4,055,208.33 395,000.00 343,711.08 4,793,919.42
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 (3,125.00) (3,125.00)
---- ---- ---------- ----------
Investor Total Interest Due 4,055,208.33 395,000.00 340,586.08 4,790,794.42
Investor Default Amount Due 4,243,211.56 399,361.09 349,440.95 4,992,013.60
Investor Monthly Fees Due 661,111.11 62,222.22 54,444.44 777,777.78
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 8,959,531.00 856,583.31 744,471.48 10,560,585.79
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 13,425,847.33
Interest and Principal Funding Investment Proceeds 30,105.20
Series Adjusted Portfolio Yield 10.16%
Base Rate 6.68%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Sep-96
Credit Card Asset Backed Securities Series 1996-3 Distribution Date 17-Oct-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,207,113,299.92
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,207,113,299.92
Series Allocation Percentage 15.38%
Beginning Invested /Transferor Amount 262,632,815.37 1,262,632,815.37
Floating Allocation Percentage 20.8004110% 100.0000000%
Principal Allocation Percentage 20.8004110% 100.0000000%
Finance Charge Collections 3,567,492.10 17,151,065.38 111,481,924.99
Total Yield 16.30%
Trust Portfolio Yield 10.94%
Principal Collections 47,871,066.15 230,144,808.59 1,495,941,255.87
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 18.23%
Defaults 1,311,066.59 6,303,080.19 40,970,021.21
Monthly Default Rate 5.99%
Net Monthly Default Rate 5.36%
Recoveries 138,286.20 664,824.36 4,321,358.33
Adjustments (11,960,223.75)
New Receivables 1,426,490,972.41
Ending Principal Receivables Balance 8,108,653,219.01
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,108,653,219.01
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 247,485,110.62 1,247,485,110.62 8,108,653,219.01
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Group I Information Series 1996-3 Group Total
- -------------------
<S> <C> <C>
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.75270% 5.73351%
Investor Finance Charge Collections 14,110,111.45 67,023,029.37
Investor Principal Collections 182,273,742.45 865,800,276.62
Investor Default Amount Due 4,992,013.60 23,712,064.60
Investor Monthly Interest Due 4,793,919.42 22,695,133.44
Investor Monthly Fees Due 777,777.78 7,027,777.78
Investor Additional Amounts Due 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 11,442,075.43 1,074,067.79 939,809.31 13,455,952.53
Monthly Interest Paid 4,055,208.33 395,000.00 0.00 4,450,208.33
Investor Default Amount Paid 4,243,211.56 0.00 0.00 4,243,211.56
Excess Spread 3,143,655.53 679,067.79 939,809.31 4,762,532.63
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 399,361.09 399,361.09
Required Amount 0.00 399,361.09 399,361.09
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 340,586.08 340,586.08
Investor Default Paid 0.00 399,361.09 349,440.95 748,802.04
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 777,777.78
Excess Finance Charge Collections 2,895,366.73
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 3,125.00
Principal Charge-Offs 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 0.00 0.00 340,586.08 340,586.08
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 340,586.08 340,586.08
Ending Certificate Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 0.0000 0.0000 4.8655
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 4.8655
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,055,208.33 395,000.00 4,450,208.33
2nd Collection Accounts Deposit 0.00 0.00 0.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 4,055,208.33 395,000.00 4,450,208.33
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 216,713 42,449 20,736 15,405 22,551 317,854
Balance of Accounts 461,935,671 93,993,936 58,288,716 45,735,153 71,069,444 731,022,919.67
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest 0.0039%
Prior Month Account Owner Retained
Interest Factor 0.2826%
Current Month Account Owner Retained
Interest Factor 0.2865%
</TABLE>
<PAGE> 3
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1996-3
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-3 Supplement dated as of 9/17/96
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to
the Series 1996-3 Certificateholders and the performance of the AT&T Universal
Card Master Trust (the "Trust") during the previous month. The information
which is required to be prepared with respect to the Distribution Date of
10/17/96, and with respect to the performance of the Trust during the month of
9/1/96-9/30/96 is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-3
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Monthly Statement have their respective meanings set forth in the Pooling and
Servicing Agreement and the Supplement.
<TABLE>
<S> <C> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 4
<TABLE>
<S> <C> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 5
<TABLE>
<S> <C> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $340,586.08
-----------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /S/ TOM DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
C-3
<PAGE> 6
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,207,113,299.92
-----------------
Beginning of the Month Finance Charge Receivables: $88,744,753.43
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,295,858,053.36
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,108,653,219.01
-----------------
End of the Month Finance Charge Receivables: $87,289,119.28
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,195,942,338.29
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $247,485,110.62
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $93,993,935.82
--------------
61-90 Days Delinquent $58,288,716.34
--------------
90+ Days Delinquent $116,804,596.76
---------------
Total 30+ Days Delinquent $269,087,248.92
---------------
Defaulted Accounts During the Month $40,970,021.21
--------------
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $850,000,000
------------
Class B Initial Invested Amount $80,000,000
-----------
Collateral Initial Invested Amount $70,000,000
-----------
INITIAL INVESTED AMOUNT $1,000,000,000
--------------
Class A Invested Amount $850,000,000.00
---------------
Class B Invested Amount $80,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
INVESTED AMOUNT $1,000,000,000
--------------
Class A Adjusted Invested Amount $850,000,000.00
---------------
Class B Adjusted Invested Amount $80,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
ADJUSTED INVESTED AMOUNT $1,000,000,000
--------------
MONTHLY SERVICING FEE $777,777.78
-----------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.75%
IN GROUP 1 ----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $14,110,111.45
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
GROUP 1 INVESTOR MONTHLY FEES $777,777.78
-----------
GROUP 1 INVESTOR MONTHLY INTEREST $4,793,919.42
-------------
SERIES 1996-3 INFORMATION
SERIES 1996-3 ALLOCATION PERCENTAGE 15.38%
-----
SERIES 1996-3 ALLOCABLE FINANCE CHARGE $17,151,065.38
--------------
COLLECTIONS
SERIES 1996-3 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1996-3 ALLOCABLE DEFAULTED AMOUNT $6,303,080.19
-------------
SERIES 1996-3 MONTHLY FEES $1,250,000.00
-------------
SERIES 1996-3 ALLOCABLE PRINCIPAL COLLECTIONS $230,144,808.59
---------------
SERIES 1996-3 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 79.20%
-----
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,583,573.29
--------------
INVESTOR DEFAULT AMOUNT $4,992,013.60
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $13,425,847.33
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 79.20%
-----
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $11,442,075.43
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $11,442,075.43
--------------
Class A Monthly Interest $4,055,208.33
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,243,211.56
-------------
TOTAL CLASS A EXCESS SPREAD $3,143,655.53
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
----
CLASS B AVAILABLE FUNDS $1,074,067.79
-------------
Class B Monthly Interest $395,000.00
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $679,067.79
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
----
COLLATERAL AVAILABLE FUNDS $939,809.31
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $939,809.31
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $4,762,532.63
-------------
</TABLE>
C-6
<PAGE> 9
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge $0.00
Offs -----
Excess Spread Applied to Class B Required Amount $399,361.09
-----------
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e) -----
Excess Spread Applied to Collateral Monthly $340,586.08
Interest -----------
Excess Spread Applied to Unpaid Monthly $777,777.78
Servicing Fee -----------
Excess Spread Applied Collateral Default Amount $349,440.95
-----------
Excess Spread Applied to Reductions of $0.00
Collateral Invested Amount Pursuant to Clauses -----
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
Collateral Interest Holder -----
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $2,895,366.73
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $18,479,334.62
FOR ALL ALLOCATION SERIES --------------
SERIES 1996-3 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-3 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 10
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
Reductions of Collateral Invested Amount -----
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Reserve Account -----
Excess Finance Charge Collections Applied to $0.00
Other Amounts Owed to Collateral Interest Holder -----
YIELD AND BASE RATE---
Base Rate (Current Month) 6.68%
-----
Base Rate (Prior Month) N/A
---
Base Rate (Two Months Ago) N/A
---
THREE MONTH AVERAGE BASE RATE N/A
---
Series Adjust Portfolio Yield (Current Month) 10.16%
------
Series Adjusted Portfolio Yield (Prior Month) N/A
---
Series Adjusted Portfolio Yield (Two Months Ago) N/A
---
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO N/A
YIELD ---
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
------
Class A Principal Collections $154,932,681.08
---------------
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $14,581,899.40
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $12,759,161.97
--------------
AVAILABLE PRINCIPAL COLLECTIONS $182,273,742.45
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1996-3 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 11
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $187,265,756.05
PRINCIPAL SHARING SERIES ---------------
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
BY PRINCIPAL PAYMENTS) -----
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
THAN BY PRINCIPAL PAYMENTS) -----
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /S/ TOM DONAHUE
-----------------------------
Name: Tom Donahue
Title: Servicing Officer
|
|