<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) June 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 May 31,
1996 for the AT&T Universal Card Master Trust Series 1995-1,
Series 1995-2, Series 1995-3 and Series 1996-1 Certificates
were distributed on June 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, and 20.4.
Exhibit 20.1 Monthly Servicing Report dated June 17, 1996
with respect to the AT&T Universal Card
Master Trust Series 1995-1.
Exhibit 20.2 Monthly Servicing Report dated June 17, 1996
with respect to the AT&T Universal Card
Master Trust Series 1995-2.
Exhibit 20.3 Monthly Servicing Report dated June 17, 1996
with respect to the AT&T Universal Card
Master Trust Series 1995-3.
Exhibit 20.4 Monthly Servicing Report dated June 17, 1996
with respect to the AT&T Universal Card
Master Trust Series 1996-1.
<PAGE> 3
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
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Description Page
- ------- ----------- ----
<S> <C>
20.1 Monthly Servicing Report dated
June 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-1.
20.2 Monthly Servicing Report dated
June 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-2.
20.3 Monthly Servicing Report dated
June 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1995-3.
20.4 Monthly Servicing Report dated
June 17, 1996 with respect to the
AT&T Universal Card Master Trust
Series 1996-1.
</TABLE>
<PAGE> 1
EXHIBIT 20.1
<PAGE> 2
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-1
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<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 1,000,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 78.9526972%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 78.9526972%
Finance Charge Collections 12,827,246.03 884,637.66 1,032,077.27 14,743,960.96
Total Yield
Trust Portfolio Yield
Principal Collections 140,558,528.05 9,693,691.59 11,309,306.85 161,561,526.50
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 5,635,004.34 388,620.99 453,391.15 6,477,016.48
Monthly Default Rate
Net Monthly Default Rate
Recoveries 576,190.50 39,737.28 46,360.16 662,287.93
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 1,000,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1995-1 Series 1995-3 Series 1996-1 Series
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 0.00
Average Rate 5.5787% 5.7021% 5.6349% 0.0000%
Investor Finance Charge Collections 15,406,248.89 11,554,686.67 15,406,248.89 0.00
Investor Principal Collections 161,561,526.50 121,171,144.87 161,561,526.50 0.00
Investor Default Amount Due 6,477,016.48 4,857,762.36 6,477,016.48 0.00
Investor Monthly Interest Due 4,803,902.08 3,682,580.42 4,852,283.96 0.00
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 0.00
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.5605% 5.6805% 5.7180%
Investor Monthly Interest Due 4,165,741.25 293,492.50 344,668.33 4,803,902.08
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 4,165,741.25 293,492.50 344,668.33 4,803,902.08
Investor Default Amount Due 5,635,004.34 388,620.99 453,391.15 6,477,016.48
Investor Monthly Fees Due 1,450,000.00 100,000.00 116,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
Total Due 11,250,745.59 782,113.49 914,726.15 12,947,585.23
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 15,359,690.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 10.66%
Base Rate 7.76%
- -----------------------------------------------------------------------------------------------------------------------------------
Application of Collections Class A Class B CIA Investor Total
- --------------------------
Available Funds 13,362,930.69 921,581.43 1,075,178.33 15,359,690.44
Monthly Interest Paid 4,165,741.25 293,492.50 0.00 4,459,233.75
Investor Default Amount Paid 5,635,004.34 0.00 0.00 5,635,004.34
Excess Spread 3,562,185.10 628,088.93 1,075,178.33 5,265,452.36
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
- --------------------------
Investor Default Amount Shortfall 0.00 388,620.99 388,620.99
Required Amount 0.00 388,620.99 388,620.99
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 344,668.33 344,668.33
Investor Default Paid 0.00 388,620.99 453,391.15 842,012.14
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,412,105.21
- -----------------------------------------------------------------------------------------------------------------------------------
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
- -----------------------------------------------------------------------------------------------------------------------------------
Certificates Class A Class B CIA Investor Total
- ------------
Beginning Certificates Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 0.00 0.00 344,668.33 344,668.33
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 344,668.33 344,668.33
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 4.9238
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 4.9238
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,165,741.25 293,492.50 4,459,233.75
2nd Collection Accounts Deposit 0.00 0.00 0.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 4,165,741.25 293,492.50 4,459,233.75
Delinquencies 1-30 31-60 61-90 91-120
- ------------- ---- ----- ----- ------
Number of Accounts 152,576 29,820 15,393 11,622
Balance of Accounts 334,446,046 76,754,548 45,867,350 37,803,369
30+Days Delinquency Rate 3.9190%
Change in Account Owner Retained Interest 0.0026%
<CAPTION>
AT&T Universal Funding Corporation Monthly Report 31-May-96
Credit Card Asset Backed Securities Distribution Date 17-Jun-96
- --------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 5,711,452,494.90
Special Funding Account Balance 0.00
Beginning Total Principal Balance 5,711,452,494.90
Series Allocation Percentage 22.18%
Beginning Invested /Transferor Amount 266,581,175.03 1,266,581,175.03
Floating Allocation Percentage 21.0473028% 100.0000000%
Principal Allocation Percentage 21.0473028% 100.0000000%
Finance Charge Collections 3,930,462.44 18,674,423.39 84,209,432.59
Total Yield 17.69%
Trust Portfolio Yield 10.72%
Principal Collections 43,069,261.57 204,630,788.07 922,750,983.60
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 16.16%
Defaults 1,726,650.66 8,203,667.14 36,993,171.93
Monthly Default Rate 7.77%
Net Monthly Default Rate 6.98%
Recoveries 176,553.50 838,841.43 3,782,626.07
Adjustments (1,779,740.80)
New Receivables 937,340,257.91
Ending Principal Receivables Balance 5,690,828,338.08
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,690,828,338.08
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 262,007,527.82 1,262,007,527.82 5,690,828,338.08
- --------------------------------------------------------------------------------------------------------------------
Group I Information Group Total
- -------------------
Invested Amount 2,750,000,000.00
Average Rate 5.6328%
Investor Finance Charge Collections 42,367,184.45
Investor Principal Collections 444,294,197.87
Investor Default Amount Due 17,811,795.32
Investor Monthly Interest Due 13,338,766.46
Investor Monthly Fees Due 4,583,333.33
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 Amounts Due
Total Due
- --------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest and Principal Funding Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- --------------------------------------------------------------------------------------------------------------------
Application of Collections
- --------------------------
Available Funds
Monthly Interest Paid
Investor Default Amount Paid
Excess Spread
- --------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall
Investor Default Amount Shortfall
Required Amount
- --------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid
Investor Default Paid
Investor Additional Amounts Paid
Servicing Fee Paid
Excess Finance Charge Collections
- --------------------------------------------------------------------------------------------------------------------
Reallocated Principal
Monthly Interest Paid
Investor Default Paid
- --------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest
Principal Charge-Offs
- --------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount
Principal Funding Account Deposit
Principal Funding Account Balance
- --------------------------------------------------------------------------------------------------------------------
Certificates
- ------------
Beginning Certificates Balance
Interest Distribution
Principal Distribution
Total Distribution
Ending Certificate Balance
Pool Factor
Total Distribution Per 1,000 Certificate
Interest Distribution Per 1,000 Certificate
Principal Distribution Per 1,000 Certificate
1st Collection Account Deposit
2nd Collection Accounts Deposit
3rd Collection Accounts Deposit
Quarterly Interest Distribution
Delinquencies 120+ Total
Number of Accounts 18,999 228,410
Balance of Accounts 63,405,795 558,277,108.62
30+Days Delinquency Rate
Change in Account Owner Retained Interest
</TABLE>
<PAGE> 3
FORM OF 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 06/17/96, and with respect to the performance of the Trust
during the month of 05/01/96-05/31/96 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> <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>
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<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>
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<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 $344,668.33
(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
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<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $5,711,452,494.90
Beginning of the Month Finance Charge Receivables: $76,220,571.94
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Premium Receivables: $0.00
Beginning of the Month Total Receivables: $5,787,673,066.84
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: $5,690,828,338.08
End of the Month Finance Charge Receivables: $74,135,674.13
End of the Month Discounted Receivables: $0.00
End of the Month Premium Receivables: $0.00
End of the Month Total Receivables: $5,764,964,012.21
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $4,500,000,000.00
End of the Month Transferor Amount $262,007,527.82
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $76,754,548.31
61-90 Days Delinquent $45,867,350.00
90+ Days Delinquent $101,209,163.83
Total 30+ Days Delinquent $223,831,062.14
Defaulted Accounts During the Month $36,993,171.93
</TABLE>
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<TABLE>
<S> <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 $6,477,016.48
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.63%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $42,367,184.45
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $17,811,795.32
GROUP 1 INVESTOR MONTHLY FEES $4,583,333.33
GROUP 1 INVESTOR MONTHLY INTEREST $13,338,766.46
SERIES 1995-1 INFORMATION
SERIES 1995-1 ALLOCATION PERCENTAGE 22.18%
SERIES 1995-1 ALLOCABLE FINANCE CHARGE $18,674,423.39
COLLECTIONS
SERIES 1995-1 ADDITIONAL AMOUNTS $0.00
SERIES 1995-1 ALLOCABLE DEFAULTED AMOUNT $8,203,667.14
SERIES 1995-1 MONTHLY FEES $1,666,666.67
SERIES 1995-1 ALLOCABLE PRINCIPAL COLLECTIONS $204,630,788.07
SERIES 1995-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
FLOATING ALLOCATION PERCENTAGE 78.95%
</TABLE>
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<TABLE>
<S> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $14,743,960.96
INVESTOR DEFAULT AMOUNT $6,477,016.48
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $15,359,690.44
PRINCIPAL ALLOCATIONS PERCENTAGE 78.95%
AVAILABLE PRINCIPAL COLLECTIONS $161,561,526.50
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reallocated $13,362,930.69
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $13,362,930.69
Class A Monthly Interest $4,165,741.25
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $5,635,004.34
TOTAL CLASS A EXCESS SPREAD $3,562,185.10
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
CLASS B AVAILABLE FUNDS $921,581.43
Class B Monthly Interest $293,492.50
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $628,088.93
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $1,075,178.33
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $1,075,178.33
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $5,265,452.36
</TABLE>
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<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 $388,620.99
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 $344,668.33
Interest
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee
Excess Spread Applied Collateral Default Amount $453,391.15
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 $2,412,105.21
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $8,433,550.21
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 $0.00
Unpaid Monthly Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
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<PAGE> 10
<TABLE>
<S> <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) 7.76%
Base Rate (Prior Month) 7.37%
Base Rate (Two Months Ago) 7.36%
THREE MONTH AVERAGE BASE RATE 7.50%
Series Adjust Portfolio Yield (Current Month) 10.66%
Series Adjusted Portfolio Yield (Prior Month) 11.85%
Series Adjusted Portfolio Yield (Two Months Ago) 10.96%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 11.16%
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
Class A Principal Collections $140,558,528.05
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $9,693,691.59
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $11,309,306.85
AVAILABLE PRINCIPAL COLLECTIONS $161,561,526.50
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1995-1 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
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<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 $168,038,542.98
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
EXHIBIT 20.2
<PAGE> 2
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-2
- ----------------------------------------------------------------------------------------------------------------------------------
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% 78.9526972%
Principal Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 78.9526972%
Finance Charge Collections 9,952,173.65 525,253.61 580,543.46 11,057,970.72
Total Yield
Trust Portfolio Yield
Principal Collections 109,054,030.39 5,755,629.38 6,361,485.11 121,171,144.87
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,371,986.12 230,743.71 255,032.52 4,857,762.36
Monthly Default Rate
Net Monthly Default Rate
Recoveries 447,044.36 23,594.01 26,077.59 496,715.95
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
- ----------------------------------------------------------------------------------------------------------------------------------
Group II Information Series 1995-2 Series Series Series
- --------------------
Invested Amount 750,000,000.00 0.00 0.00 0.00
Average Rate 5.9476% 0.0000% 0.0000% 0.0000%
Investor Finance Charge Collections 11,554,686.67 0.00 0.00 0.00
Investor Principal Collections 121,171,144.87 0.00 0.00 0.00
Investor Default Amount Due 4,857,762.36 0.00 0.00 0.00
Investor Monthly Interest Due 3,723,540.00 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
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.9500% 6.1000% 5.7680%
Investor Monthly Interest Due 3,346,875.00 181,093.75 195,571.25 3,723,540.00
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 3,346,875.00 181,093.75 195,571.25 3,723,540.00
Investor Default Amount Due 4,371,986.12 230,743.71 255,032.52 4,857,762.36
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 8,843,861.12 471,212.46 516,228.77 9,831,302.36
- ----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 11,554,686.67
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 10.72%
Base Rate 7.96%
- ----------------------------------------------------------------------------------------------------------------------------------
Application of Collections Class A Class B CIA Investor Total
- --------------------------
Available Funds 10,399,218.00 548,847.62 606,621.05 11,554,686.67
Monthly Interest Paid 3,346,875.00 181,093.75 0.00 3,527,968.75
Investor Default Amount Paid 4,371,986.12 0.00 0.00 4,371,986.12
Excess Spread 2,680,356.88 367,753.87 606,621.05 3,654,731.79
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 230,743.71 230,743.71
Required Amount 0.00 230,743.71 230,743.71
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 195,571.25 195,571.25
Investor Default Paid 0.00 230,743.71 255,032.52 485,776.24
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 1,723,384.31
- ----------------------------------------------------------------------------------------------------------------------------------
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
- ----------------------------------------------------------------------------------------------------------------------------------
Certificates Class A Class B CIA Investor Total
- ------------
Beginning Certificates Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Interest Distribution 3,346,875.00 181,093.75 195,571.25 3,723,540.00
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 3,346,875.00 181,093.75 195,571.25 3,723,540.00
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 4.9669
- ----------------------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 4.9583 5.0833 4.9669
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
Delinquencies 1-30 31-60 61-90 91-120
- ------------- ---- ----- ----- ------
Number of Accounts 152,576 29,820 15,393 11,622
Balance of Accounts 334,446,046 76,754,548 45,867,350 37,803,369
30+Days Delinquency Rate 3.9190%
Change in Account Owner Retained Interest 0.0026%
<CAPTION>
AT&T Universal Funding Corporation Monthly Report 31-May-96
Credit Card Asset Backed Securities Distribution Date 17-Jun-96
- -----------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 5,711,452,494.90
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,711,452,494.90
Series Allocation Percentage 16.63%
Beginning Invested /Transferor Amount 199,935,881.28 949,935,881.28
Floating Allocation Percentage 21.0473028% 100.0000000%
Principal Allocation Percentage 21.0473028% 100.0000000%
Finance Charge Collections 2,947,846.83 14,005,817.54 84,209,432.59
Total Yield 17.69%
Trust Portfolio Yield 10.72%
Principal Collections 32,301,946.18 153,473,091.06 922,750,983.60
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 16.16%
Defaults 1,294,988.00 6,152,750.36 36,993,171.93
Monthly Default Rate 7.77%
Net Monthly Default Rate 6.98%
Recoveries 132,415.12 629,131.07 3,782,626.07
Adjustments (1,779,740.80)
New Receivables 937,340,257.91
Ending Principal Receivables Balance 5,690,828,338.08
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,690,828,338.08
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 199,935,881.28 949,935,881.28 5,690,828,338.08
- -----------------------------------------------------------------------------------------------------------------
Group II Information Group Total
- --------------------
Invested Amount 750,000,000.00
Average Rate 5.9476%
Investor Finance Charge Collections 11,554,686.67
Investor Principal Collections 121,171,144.87
Investor Default Amount Due 4,857,762.36
Investor Monthly Interest Due 3,723,540.00
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
- -----------------------------------------------------------------------------------------------------------------
Application of Collections
- --------------------------
Available Funds
Monthly Interest Paid
Investor Default Amount Paid
Excess Spread
- -----------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall
Investor Default Amount Shortfall
Required Amount
- -----------------------------------------------------------------------------------------------------------------
Monthly Interest Paid
Investor Default Paid
Investor Additional Amounts Paid
Servicing Fee Paid
Excess Finance Charge Collections
- -----------------------------------------------------------------------------------------------------------------
Reallocated Principal
Monthly Interest Paid
Investor Default Paid
- -----------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest
Principal Charge-Offs
- -----------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount
Principal Funding Account Deposit
Principal Funding Account Balance
- -----------------------------------------------------------------------------------------------------------------
Certificates
- ------------
Beginning Certificates Balance
Interest Distribution
Principal Distribution
Total Distribution
Ending Certificate Balance
Pool Factor
Total Distribution Per 1,000 Certificate
- -----------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate
Principal Distribution Per 1,000 Certificate
Delinquencies 120+ Total
Number of Accounts 18,999 228,410
Balance of Accounts 63,405,795 558,277,108.62
30+Days Delinquency Rate
Change in Account Owner Retained Interest
</TABLE>
<PAGE> 3
FORM OF 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 06/17/96, and with respect to the performance of the Trust
during the month of 05/01/96-05/31/96 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> <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> <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> <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 $195,571.25
(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: $5,711,452,494.90
Beginning of the Month Finance Charge Receivables: $76,220,571.94
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Premium Receivables: $0.00
Beginning of the Month Total Receivables: $5,787,673,066.84
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: $5,690,828,338.08
End of the Month Finance Charge Receivables: $74,135,674.13
End of the Month Discounted Receivables: $0.00
End of the Month Premium Receivables: $0.00
End of the Month Total Receivables: $5,764,964,012.21
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $4,500,000,000.00
End of the Month Transferor Amount $199,935,881.28
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $76,754,548.31
61-90 Days Delinquent $45,867,350.00
90+ Days Delinquent $101,209,163.83
Total 30+ Days Delinquent $223,831,062.14
Defaulted Accounts During the Month $36,993,171.93
</TABLE>
C-4
<PAGE> 7
<TABLE>
<S> <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 $4,857,762.36
GROUP II INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.95%
IN GROUP II
GROUP II INVESTOR FINANCE CHARGE COLLECTIONS $11,554,686.67
GROUP II INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP II INVESTOR DEFAULT AMOUNT $4,857,762.36
GROUP II INVESTOR MONTHLY FEES $1,250,000.00
GROUP II INVESTOR MONTHLY INTEREST $3,723,540.00
SERIES 1995-2 INFORMATION
SERIES 1995-2 ALLOCATION PERCENTAGE 16.63%
SERIES 1995-2 ALLOCABLE FINANCE CHARGE $14,005,817.54
COLLECTIONS
SERIES 1995-2 ADDITIONAL AMOUNTS $0.00
SERIES 1995-2 ALLOCABLE DEFAULTED AMOUNT $6,152,750.36
SERIES 1995-2 MONTHLY FEES $1,250,000.00
SERIES 1995-2 ALLOCABLE PRINCIPAL COLLECTIONS $153,473,091.06
SERIES 1995-2 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
FLOATING ALLOCATION PERCENTAGE 78.95%
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $11,057,970.72
INVESTOR DEFAULT AMOUNT $4,857,762.36
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $11,554,686.67
PRINCIPAL ALLOCATIONS PERCENTAGE 78.95%
AVAILABLE PRINCIPAL COLLECTIONS $121,171,144.87
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 90.00%
Class A Floating Percentage of Reallocated $10,399,218.00
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $10,399,218.00
Class A Monthly Interest $3,346,875.00
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $4,371,986.12
TOTAL CLASS A EXCESS SPREAD $2,680,356.88
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 4.75%
CLASS B AVAILABLE FUNDS $548,847.62
Class B Monthly Interest $181,093.75
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $367,753.87
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 5.25%
COLLATERAL AVAILABLE FUNDS $606,621.05
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $606,621.05
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $3,654,731.79
</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 $230,743.71
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 $195,571.25
Interest
Excess Spread Applied to Unpaid Monthly $1,250,000.00
Servicing Fee
Excess Spread Applied Collateral Default Amount $255,032.52
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 $1,723,384.31
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $8,433,550.21
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>
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) 7.96%
Base Rate (Prior Month) 7.95%
Base Rate (Two Months Ago) 7.95%
THREE MONTH AVERAGE BASE RATE 7.95%
Series Adjust Portfolio Yield (Current Month) 10.72%
Series Adjusted Portfolio Yield (Prior Month) 11.15%
Series Adjusted Portfolio Yield (Two Months Ago) 11.13%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 11.00%
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 90.00%
Class A Principal Collections $109,054,030.39
CLASS B PRINCIPAL PERCENTAGE 4.75%
Class B Principal Collections $5,755,629.38
COLLATERAL PRINCIPAL PERCENTAGE 5.25%
Collateral Principal Collections $6,361,485.11
AVAILABLE PRINCIPAL COLLECTIONS $121,171,144.87
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 $126,028,907.23
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
EXHIBIT 20.3
<PAGE> 2
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-3
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<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 52,500,000.00 750,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 78.9526972%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 78.9526972%
Finance Charge Collections 9,620,434.52 663,478.24 774,057.95 11,057,970.72
Total Yield
Trust Portfolio Yield
Principal Collections 105,418,896.04 7,270,268.69 8,481,980.14 121,171,144.87
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,226,253.25 291,465.74 340,043.37 4,857,762.36
Monthly Default Rate
Net Monthly Default Rate
Recoveries 432,142.88 29,802.96 34,770.12 496,715.95
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 52,500,000.00 750,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1995-1 Series 1995-3 Series 1996-1 Series
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 0.00
Average Rate 5.5787% 5.7021% 5.6349% 0.0000%
Investor Finance Charge Collections 15,406,248.89 11,554,686.67 15,406,248.89 0.00
Investor Principal Collections 161,561,526.50 121,171,144.87 161,561,526.50 0.00
Investor Default Amount Due 6,477,016.48 4,857,762.36 6,477,016.48 0.00
Investor Monthly Interest Due 4,803,902.08 3,682,580.42 4,852,283.96 0.00
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 0.00
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.6900% 5.8000% 5.7680%
Investor Monthly Interest Due 3,197,068.75 224,750.00 260,761.67 3,682,580.42
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 3,197,068.75 224,750.00 260,761.67 3,682,580.42
Investor Default Amount Due 4,226,253.25 291,465.74 340,043.37 4,857,762.36
Investor Monthly Fees Due 1,087,500.00 75,000.00 87,500.00 1,250,000.00
Investor Additional Fees Due 0.00 0.00 0.00 0.00
Total 8,510,822.00 591,215.74 688,305.03 9,790,342.78
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 11,599,421.69
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 10.79%
Base Rate 7.89%
- -----------------------------------------------------------------------------------------------------------------------------------
Application of Collections Class A Class B CIA Investor Total
- --------------------------
Available Funds 10,091,496.87 695,965.30 811,959.52 11,599,421.69
Monthly Interest Paid 3,197,068.75 224,750.00 0.00 3,421,818.75
Investor Default Amount Paid 4,226,253.25 0.00 0.00 4,226,253.25
Excess Spread 2,668,174.86 471,215.30 811,959.52 3,951,349.68
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 291,465.74 291,465.74
Required Amount 0.00 291,465.74 291,465.74
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 260,761.67 260,761.67
Investor Default Paid 0.00 291,465.74 340,043.37 631,509.11
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 1,809,078.91
- -----------------------------------------------------------------------------------------------------------------------------------
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
- -----------------------------------------------------------------------------------------------------------------------------------
Certificates Class A Class B CIA Investor Total
- ------------
Beginning Certificates Balance 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
Interest Distribution 0.00 0.00 260,761.67 260,761.67
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 260,761.67 260,761.67
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 0.0000 0.0000 4.9669
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 4.9669
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Accounts Deposit 3,093,937.50 217,500.00 3,311,437.50
2nd Collection Accounts Deposit 3,197,068.75 224,750.00 3,421,818.75
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 6,291,006.25 442,250.00 6,733,256.25
Delinquencies 1-30 31-60 61-90 91-120
- ------------- ---- ----- ----- ------
Number of Accounts 152,576 29,820 15,393 11,622
Balance of Accounts 334,446,046 76,754,548 45,867,350 37,803,369
30+Days Delinquency Rate 3.9190%
Change in Account Owner Retained Interest 0.0026%
<CAPTION>
AT&T Universal Funding Corporation Monthly Report 31-May-96
Credit Card Asset Backed Securities Distribution Date 17-Jun-96
- --------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 5,711,452,494.90
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,711,452,494.90
Series Allocation Percentage 16.63%
Beginning Invested /Transferor Amount 199,935,881.28 949,935,881.28
Floating Allocation Percentage 21.0473028% 100.0000000%
Principal Allocation Percentage 21.0473028% 100.0000000%
Finance Charge Collections 2,947,846.83 14,005,817.54 84,209,432.59
Total Yield 17.69%
Trust Portfolio Yield 10.72%
Principal Collections 32,301,946.18 153,473,091.06 922,750,983.60
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 16.16%
Defaults 1,294,988.00 6,152,750.36 36,993,171.93
Monthly Default Rate 7.77%
Net Monthly Default Rate 6.98%
Recoveries 132,415.12 629,131.07 3,782,626.07
Adjustments (1,779,740.80)
New Receivables 937,340,257.91
Ending Principal Receivables Balance 5,690,828,338.08
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,690,828,338.08
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 199,935,881.28 949,935,881.28 5,690,828,338.08
- --------------------------------------------------------------------------------------------------------------------
Group I Information Group Total
- -------------------
Invested Amount 2,750,000,000.00
Average Rate 5.6328%
Investor Finance Charge Collections 42,367,184.45
Investor Principal Collections 444,294,197.87
Investor Default Amount Due 17,811,795.32
Investor Monthly Interest Due 13,338,766.46
Investor Monthly Fees Due 4,583,333.33
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
- --------------------------------------------------------------------------------------------------------------------
Application of Collections
- --------------------------
Available Funds
Monthly Interest Paid
Investor Default Amount Paid
Excess Spread
- --------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall
Investor Default Amount Shortfall
Required Amount
- --------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid
Investor Default Paid
Investor Additional Amounts Paid
Servicing Fee Paid
Excess Finance Charge Collections
- --------------------------------------------------------------------------------------------------------------------
Reallocated Principal
Monthly Interest Paid
Investor Default Paid
- --------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest
Principal Charge-Offs
- --------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount
Principal Funding Account Deposit
Principal Funding Account Balance
- --------------------------------------------------------------------------------------------------------------------
Certificates
- ------------
Beginning Certificates Balance
Interest Distribution
Principal Distribution
Total Distribution
Ending Certificate Balance
Pool Factor
Total Distribution Per 1,000 Certificate
Interest Distribution Per 1,000 Certificate
Principal Distribution Per 1,000 Certificate
1st Collection Accounts Deposit
2nd Collection Accounts Deposit
3rd Collection Accounts Deposit
Quarterly Interest Distribution
Delinquencies 120+ Total
Number of Accounts 18,999 228,410
Balance of Accounts 63,405,795 558,277,108.62
30+Days Delinquency Rate
Change in Account Owner Retained Interest
</TABLE>
<PAGE> 3
FORM OF 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 06/17/96, and with respect to the performance of the Trust
during the month of 05/01/96-05/31/96 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> <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 $260,761.67
(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: $5,711,452,494.90
Beginning of the Month Finance Charge Receivables: $76,220,571.94
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Premium Receivables: $0.00
Beginning of the Month Total Receivables: $5,787,673,066.84
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: $5,690,828,338.08
End of the Month Finance Charge Receivables: $74,135,674.13
End of the Month Discounted Receivables: $0.00
End of the Month Premium Receivables: $0.00
End of the Month Total Receivables: $5,764,964,012.21
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $4,500,000,000.00
End of the Month Transferor Amount $199,935,881.28
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $76,754,548.31
61-90 Days Delinquent $45,867,350.00
90+ Days Delinquent $101,209,163.83
Total 30+ Days Delinquent $223,831,062.14
Defaulted Accounts During the Month $36,993,171.93
</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 $4,857,762.36
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.63%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $42,367,184.45
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $17,811,795.32
GROUP 1 INVESTOR MONTHLY FEES $4,583,333.33
GROUP 1 INVESTOR MONTHLY INTEREST $13,338,766.46
SERIES 1995-3 INFORMATION
SERIES 1995-3 ALLOCATION PERCENTAGE 16.63%
SERIES 1995-3 ALLOCABLE FINANCE CHARGE $14,005,817.54
COLLECTIONS
SERIES 1995-3 ADDITIONAL AMOUNTS $0.00
SERIES 1995-3 ALLOCABLE DEFAULTED AMOUNT $6,152,750.36
SERIES 1995-3 MONTHLY FEES $1,250,000.00
SERIES 1995-3 ALLOCABLE PRINCIPAL COLLECTIONS $153,473,091.06
SERIES 1995-3 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
FLOATING ALLOCATION PERCENTAGE 78.95%
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $11,057,970.72
INVESTOR DEFAULT AMOUNT $4,857,762.36
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $11,599,421.69
PRINCIPAL ALLOCATIONS PERCENTAGE 78.95%
AVAILABLE PRINCIPAL COLLECTIONS $121,171,144.87
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reallocated $10,091,496.87
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $10,091,496.87
Class A Monthly Interest $3,197,068.75
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $4,226,253.25
TOTAL CLASS A EXCESS SPREAD $2,668,174.86
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
CLASS B AVAILABLE FUNDS $695,965.30
Class B Monthly Interest $224,750.00
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $471,215.30
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $811,959.52
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $811,959.52
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $3,951,349.68
</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 $291,465.74
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 $260,761.67
Interest
Excess Spread Applied to Unpaid Monthly $1,250,000.00
Servicing Fee
Excess Spread Applied Collateral Default Amount $340,043.37
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 $1,809,078.91
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $8,433,550.21
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) 7.89%
Base Rate (Prior Month) 7.71%
Base Rate (Two Months Ago) 7.77%
THREE MONTH AVERAGE BASE RATE 7.79%
Series Adjust Portfolio Yield (Current Month) 10.79%
Series Adjusted Portfolio Yield (Prior Month) 12.19%
Series Adjusted Portfolio Yield (Two Months Ago) 11.37%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 11.45%
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
Class A Principal Collections $105,418,896.04
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $7,270,268.69
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $8,481,980.14
AVAILABLE PRINCIPAL COLLECTIONS $121,171,144.87
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 $126,028,907.23
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
EXHIBIT 20.4
<PAGE> 2
<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% 78.9526972%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 78.9526972%
Finance Charge Collections 12,532,366.81 1,179,516.88 1,032,077.27 14,743,960.96
Total Yield
Trust Portfolio Yield
Principal Collections 137,327,297.52 12,924,922.12 11,309,306.85 161,561,526.50
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 5,505,464.01 518,161.32 453,391.15 6,477,016.48
Monthly Default Rate
Net Monthly Default Rate
Recoveries 562,944.74 52,983.03 46,360.16 662,287.93
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
- -----------------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1995-1 Series 1995-3 Series 1996-1 Series
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 0.00
Average Rate 5.5787% 5.7021% 5.6349% 0.0000%
Investor Finance Charge Collections 15,406,248.89 11,554,686.67 15,406,248.89 0.00
Investor Principal Collections 161,561,526.50 121,171,144.87 161,561,526.50 0.00
Investor Default Amount Due 6,477,016.48 4,857,762.36 6,477,016.48 0.00
Investor Monthly Interest Due 4,803,902.08 3,682,580.42 4,852,283.96 0.00
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 0.00
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.6133% 5.7483% 5.7680%
Investor Monthly Interest Due 4,108,609.11 395,992.62 347,682.22 4,852,283.96
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 4,108,609.11 395,992.62 347,682.22 4,852,283.96
Investor Default Amount Due 5,505,464.01 518,161.32 453,391.15 6,477,016.48
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 11,030,739.79 1,047,487.27 917,740.04 12,995,967.10
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 15,408,072.32
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 10.72%
Base Rate 7.82%
- -----------------------------------------------------------------------------------------------------------------------------------
Application of Collections Class A Class B CIA Investor Total
- --------------------------
Available Funds 13,096,861.47 1,232,645.79 1,078,565.06 15,408,072.32
Monthly Interest Paid 4,108,609.11 395,992.62 0.00 4,504,601.73
Investor Default Amount Paid 5,505,464.01 0.00 0.00 5,505,464.01
Excess Spread 3,482,788.35 836,653.16 1,078,565.06 5,398,006.58
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 518,161.32 518,161.32
Required Amount 0.00 518,161.32 518,161.32
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 347,682.22 347,682.22
Investor Default Paid 0.00 518,161.32 453,391.15 971,552.47
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,412,105.21
- -----------------------------------------------------------------------------------------------------------------------------------
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
- -----------------------------------------------------------------------------------------------------------------------------------
Certificates Class A Class B CIA Investor Total
Beginning Certificates Balance 850,000,000.00 80,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 0.00 0.00 347,682.22 347,682.22
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 347,682.22 347,682.22
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 4.9669
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 4.9669
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 2,253,108.22 217,157.24 2,470,265.46
2nd Collection Accounts Deposit 4,108,609.11 395,992.62 4,504,601.73
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 6,361,717.33 613,149.86 6,974,867.19
Delinquencies 1-30 31-60 61-90 91-120
- ------------- ---- ----- ----- ------
Number of Accounts 152,576 29,820 15,393 11,622
Balance of Accounts 334,446,046 76,754,548 45,867,350 37,803,369
30+Days Delinquency Rate 3.9190%
<CAPTION>
AT&T Universal Funding Corporation Monthly Report 31-May-96
Credit Card Asset Backed Securities Distribution Date 17-Jun-96
- ---------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 5,711,452,494.90
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,711,452,494.90
Series Allocation Percentage 22.18%
Beginning Invested /Transferor Amount 266,581,175.03 1,266,581,175.03
Floating Allocation Percentage 21.0473028% 100.0000000%
Principal Allocation Percentage 21.0473028% 100.0000000%
Finance Charge Collections 3,930,462.44 18,674,423.39 84,209,432.59
Total Yield 17.69%
Trust Portfolio Yield 10.72%
Principal Collections 43,069,261.57 204,630,788.07 922,750,983.60
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 16.16%
Defaults 1,726,650.66 8,203,667.14 36,993,171.93
Monthly Default Rate 7.77%
Net Monthly Default Rate 6.98%
Recoveries 176,553.50 838,841.43 3,782,626.07
Adjustments (1,779,740.80)
New Receivables 937,340,257.91
Ending Principal Receivables Balance 5,690,828,338.08
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 5,690,828,338.08
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 266,581,175.03 1,266,581,175.03 5,690,828,338.08
- ---------------------------------------------------------------------------------------------------------
Group I Information Group Total
- -------------------
Invested Amount 2,750,000,000.00
Average Rate 5.6328%
Investor Finance Charge Collections 42,367,184.45
Investor Principal Collections 444,294,197.87
Investor Default Amount Due 17,811,795.32
Investor Monthly Interest Due 13,338,766.46
Investor Monthly Fees Due 4,583,333.33
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
- ---------------------------------------------------------------------------------------------------------
Application of Collections
- --------------------------
Available Funds
Monthly Interest Paid
Investor Default Amount Paid
Excess Spread
- ---------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall
Investor Default Amount Shortfall
Required Amount
- ---------------------------------------------------------------------------------------------------------
Monthly Interest Paid
Investor Default Paid
Investor Additional Amounts Paid
Servicing Fee Paid
Excess Finance Charge Collections
- ---------------------------------------------------------------------------------------------------------
Reallocated Principal
Monthly Interest Paid
Investor Default Paid
- ---------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest
Principal Charge-Offs
- ---------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount
Principal Funding Account Deposit
Principal Funding Account Balance
- ---------------------------------------------------------------------------------------------------------
Certificates
Beginning Certificates Balance
Interest Distribution
Principal Distribution
Total Distribution
Ending Certificate Balance
Pool Factor
Total Distribution Per 1,000 Certificate
Interest Distribution Per 1,000 Certificate
Principal Distribution Per 1,000 Certificate
1st Collection Account Deposit
2nd Collection Accounts Deposit
3rd Collection Accounts Deposit
Quarterly Interest Distribution
Delinquencies 120+ Total
- ------------- ---- -----
Number of Accounts 18,999 228,410
Balance of Accounts 63,405,795 558,277,108.62
30+Days Delinquency Rate
Change in Account Owner Retained Interest .0026%
</TABLE>
<PAGE> 3
FORM OF 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 06/17/96 and with respect to the performance of the Trust
during the month of 05/01/96 - 05/31/96 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> <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 $347,682.22
(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: $5,711,452,494.90
Beginning of the Month Finance Charge Receivables: $76,220,571.94
Beginning of the Month Discounted Receivables: $0.00
Beginning of the Month Premium Receivables: $0.00
Beginning of the Month Total Receivables: $5,787,673,066.84
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: $5,690,828,338.08
End of the Month Finance Charge Receivables: $74,135,674.13
End of the Month Discounted Receivables: $0.00
End of the Month Premium Receivables: $0.00
End of the Month Total Receivables: $5,764,964,012.21
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $4,500,000,000.00
End of the Month Transferor Amount $266,581,175.03
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $76,754,548.31
61-90 Days Delinquent $45,867,350.00
90+ Days Delinquent $101,209,163.83
Total 30+ Days Delinquent $223,831,062.14
Defaulted Accounts During the Month $36,993,171.93
</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 $6,477,016.48
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.63%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $42,367,184.45
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $17,811,795.32
GROUP 1 INVESTOR MONTHLY FEES $4,583,333.33
GROUP 1 INVESTOR MONTHLY INTEREST $13,338,766.46
SERIES 1996-1 INFORMATION
SERIES 1996-1 ALLOCATION PERCENTAGE 22.18%
SERIES 1996-1 ALLOCABLE FINANCE CHARGE $18,674,423.39
COLLECTIONS
SERIES 1996-1 ADDITIONAL AMOUNTS $0.00
SERIES 1996-1 ALLOCABLE DEFAULTED AMOUNT $8,203,667.14
SERIES 1996-1 MONTHLY FEES $1,250,000.00
SERIES 1996-1 ALLOCABLE PRINCIPAL COLLECTIONS $204,630,788.07
SERIES 1996-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
FLOATING ALLOCATION PERCENTAGE 78.95%
</TABLE>
C-5
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $14,743,960.96
INVESTOR DEFAULT AMOUNT $6,477,016.48
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $15,408,072.32
PRINCIPAL ALLOCATIONS PERCENTAGE 78.95%
AVAILABLE PRINCIPAL COLLECTIONS $161,561,526.50
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $13,096,861.47
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $13,096,861.47
Class A Monthly Interest $4,108,609.11
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $5,505,464.01
TOTAL CLASS A EXCESS SPREAD $3,482,788.35
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
CLASS B AVAILABLE FUNDS $1,232,645.79
Class B Monthly Interest $395,992.62
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $836,653.16
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $1,078,565.06
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $1,078,565.06
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $5,398,006.58
</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 $518,161.32
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 $347,682.22
Interest
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee
Excess Spread Applied Collateral Default Amount $453,391.15
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 $2,412,105.21
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $7,128,732.41
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) 7.82%
Base Rate (Prior Month) 5.19%
Base Rate (Two Months Ago) 0.00%
THREE MONTH AVERAGE BASE RATE N/A
Series Adjust Portfolio Yield (Current Month) 10.72%
Series Adjusted Portfolio Yield (Prior Month) 9.68%
Series Adjusted Portfolio Yield (Two Months Ago) 0.00%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO N/A
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
Class A Principal Collections $137,327,297.52
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $12,924,922.12
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $11,309,306.85
AVAILABLE PRINCIPAL COLLECTIONS $161,561,526.50
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 $168,038,542.98
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
