<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
FOR ANNUAL AND TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
(MARK ONE)
X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to
-------- -----------
Commission File Numbers 33-93806
333-2878
333-9309
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>
Delaware 59-3325080
- ------------------------------------- ----------------------
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION) IDENTIFICATION)
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
<PAGE> 2
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
Title of each class Name of each exchange on which registered
------------------- -----------------------------------------
Not Applicable
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
Class A Series 1995-1 Floating Rate Asset Backed Certificates
Class B Series 1995-1 Floating Rate Asset Backed Certificates
Class A Series 1995-2 5.95% Asset Backed Certificates
Class B Series 1995-2 6.10% Asset Backed Certificates
Class A Series 1995-3 Floating Rate Asset Backed Certificates
Class B Series 1995-3 Floating Rate Asset Backed Certificates
Class A Series 1996-1 Floating Rate Asset Backed Certificates
Class B Series 1996-1 Floating Rate Asset Backed Certificates
Class A Series 1996-2 Floating Rate Asset Backed Certificates
Class B Series 1996-2 Floating Rate Asset Backed Certificates
Class A Series 1996-3 Floating Rate Asset Backed Certificates
Class B Series 1996-3 Floating Rate Asset Backed Certificates
- --------------------------------------------------------------------------------
(Title of class)
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities and Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
----- -----
<PAGE> 3
PART I
Items 1. Business.
Not Applicable.
Item 2. Properties.
Pursuant to Section 3.04(b) of the Pooling and Servicing Agreement,
dated as of August 1, 1995 relating to the AT&T Universal Card Master Trust
among AT&T Universal Funding Corp., as Transferor, AT&T Universal Card Services
Corp., as Servicer, and Bankers Trust Company, as Trustee, AT&T Universal Card
Services Corp., as Servicer, is required to deliver to the Trustee a monthly
servicer certificate (the "Monthly Report") for each outstanding series of
investor certificates. Exhibits 99.1, 99.2, 99.3, 99.4, 99.5 and 99.6 contain
the Annual Statement for Series 1995-1, Series 1995-2, Series 1995-3, Series
1996-1, Series 1996-2 and Series 1996-3 aggregating the information for each
such series contained in the Monthly Reports for calendar year 1996.
Item 3. Legal Proceedings.
None.
Item 4. Submission of Matters to a vote of Security-Holders.
None.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholders
Matters.
The certificates representing investors' interests in the Trust are
represented by one or more Certificates registered in the name of Cede & Co.,
the nominee of the Depository Trust Company.
To the best knowledge of the registrant, there is no established
public trading market for the Certificates.
Item 6. Selected Financial Data.
Not Applicable.
3
<PAGE> 4
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Not Applicable.
Item 8. Financial Statements and Supplementary Data.
Exhibits 99.1 through 99.6 filed as part of this report and listed in
Item 14(a) below are also filed as part of this report under this
Item 8.
Item 9. Changes in and Disagreements With Accountants on Accounting
and Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11. Executive Compensation.
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
(a) the Certificates of each Class of Series representing investors'
interests in the Trust are represented by one or more Certificates registered
in the name of Cede & Co., the nominee of The Depository Trust Company ("DTC"),
and an investor holding an interest in the Trust is not entitled to receive a
Certificate representing such interest except in certain limited circumstances.
Accordingly, Cede & Co. is the sole holder of record of Certificates, which it
held on behalf of brokers, dealers, banks and other direct participants in the
DTC system at December 31, 1996. Such direct participants may hold Certificates
for their own accounts or for the accounts of their customers. At December 31,
1996, the following direct DTC participants held positions in the Certificates
representing interests in the Trust equal to or exceeding 5% of the total
principal amount of the Certificates of each Class of each Series outstanding
on that date:
4
<PAGE> 5
<TABLE>
<CAPTION>
SERIES 1995-1
Participant Quantity Percentage
----------- -------- ----------
<S> <C> <C>
Class A
Chase Manhattan Bank $75,965,000 9%
Fuji Bank & Trust Company $40,000,000 5%
Northern Trust Company $120,000,000 14%
SSB-Custodian $459,615,000 53%
Class B
Barclays Bank PLC $15,000,000 25%
Bank of Tokyo-Mitsubishi $20,000,000 33%
Trust Company (The)
Fuji Bank & Trust Company $25,000,000 42%
SERIES 1995-2
Participant Quantity Percentage
----------- -------- ----------
Class A
Bank of New York $62,860,000 9%
Bankers Trust Company $116,790,000 17%
Boston Safe Deposit & Trust Co. $36,925,000 5%
Chase Manhattan Bank $64,580,000 10%
Chase Manhattan Bank/Chemical $47,195,000 7%
Nations Bank of Texas N.A. $32,600,000 5%
SSB-Custodian $82,645,000 12%
Class B Chase Manhattan Bank $33,625,000 94%
Fleet Bank of Massachusetts, N.A. $2,000,000 6%
SERIES 1995-3
Participant Quantity Percentage
----------- -------- ----------
Class A
Bankers Trust Company $136,500,000 21%
Chase Manhattan Bank $199,765,000 31%
Chase Manhattan Bank/Chemical $98,350,000 15%
Citicorp Services, Inc. $40,650,000 6%
Dai-Ichi Kangyo Bank Limited (The) $70,000,000 11%
New York-Branch
Smith Barney Harris Upham & Co., Inc. (SB) $55,935,000 9%
Class B
First National Bank of Chicago $20,000,000 44%
Fuji Bank & Trust Company $25,000,000 56%
SERIES 1996-1
Participant Quantity Percentage
----------- -------- ----------
Class A
Bank of New York $43,100,000 5%
Bankers Trust Company $312,500,000 37%
Chase Manhattan Bank $124,800,000 15%
SSB-Custodian $301,900,000 36%
Class B
Bankers Trust Company $20,000,000 25%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
Boston Safe Deposit & Trust Co. $27,600,000 35%
Bankers Trust Co./Investment A/C $23,400,000 29%
Citicorp Services, Inc. $4,000,000 5%
Morgan (J.P.) Securities Inc., Asset Backed $4,500,000 6%
SERIES 1996-2
Participant Quantity Percentage
----------- -------- ----------
Class A
Bank of New York $42,500,000 5%
Citicorp Services, Inc. $193,000,000 23%
Northern Trust Company $167,500,000 20%
SSB-Custodian $365,500,000 43%
Class B
Bank of New York $22,500,000 28%
Bankers Trust Company $20,000,000 25%
Goldman, Sachs & Co. $17,500,000 22%
Merrill Lynch, Pierce, Fenner & $5,000,000 6%
Smith Safekeeping
Swiss American Securities, Inc. $15,000,000 19%
SERIES 1996-3
Participant Quantity Percentage
----------- -------- ----------
Class A
Bankers Trust Company $244,815,000 29%
Chase Manhattan Bank $99,000,000 12%
Chase Manhattan Bank/Chemical $39,000,000 5%
Morgan Guaranty Trust Co. of New York $60,000,000 7%
Morgan Stanley & Co., Incorporated $97,185,000 11%
Northern Trust Company $90,000,000 11%
SSB-Custodian $85,500,000 10%
Class B
Boston Safe Deposit & Trust Co. $31,500,000 39%
Bankers Trust Co./Investment A/C $10,000,000 13%
Morgan (J.P.) Securities Inc., Asset Backed $23,500,000 29%
Merrill Lynch, Pierce, Fenner & $12,000,000 15%
Smith Safekeeping
</TABLE>
The address of each above participant is:
c/o The Depository Trust Company
55 Water Street
New York, New York 10041
(b) Not Applicable.
(c) Not Applicable.
6
<PAGE> 7
Item 13. Certain Relationships and Related Transactions.
None.
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) The following are filed as part of this report.
Exhibit 99.1 Annual Statement for the Period Ending December 31, 1996
with respect to the AT&T Universal Card Master Trust
Series 1995-1.
Exhibit 99.2 Annual Statement for the Period Ending December 31, 1996
with respect to the AT&T Universal Card Master Trust
Series 1995-2.
Exhibit 99.3 Annual Statement for the Period Ending December 31, 1996
with respect to the AT&T Universal Card Master Trust
Series 1995-3.
Exhibit 99.4 Annual Statement for the Period Ending December 31, 1996
with respect to the AT&T Universal Card Master Trust
Series 1996-1.
Exhibit 99.5 Annual Statement for the Period Ending December 31, 1996
with respect to the AT&T Universal Card Master Trust
Series 1996-2.
Exhibit 99.6 Annual Statement for the Period Ending December 31, 1996
with respect to the AT&T Universal Card Master Trust
Series 1996-3.
Exhibit 99.7 AT&T Universal Card Services Corp. Officers Certificate
dated March 20, 1997.
*Exhibit 99.8 Report, dated _________, 1997, issued by Coopers &
Lybrand LLP.
- -------------------------
*To be filed by Amendment.
7
<PAGE> 8
(b) The following Current Reports on Form 8-K were filed by the
registrant during the quarter ending December 31, 1996:
Current Report on Form 8-K dated September 17, 1996
Current Report on Form 8-K dated October 17, 1996
Current Report on Form 8-K dated November 18, 1996
Current Report on Form 8-K dated December 17, 1996
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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 CARD MASTER TRUST
BY: AT&T UNIVERSAL CARD SERVICES
CORP., AS SERVICER
By: /s/ Robert A. Miller
------------------------------------
Name: Robert A. Miller
Title: Vice President Finance
8
<PAGE> 9
EXHIBIT DESCRIPTION PAGE
Exhibit 99.1 Annual Statement for the Period Ending December
31, 1996 with respect to the AT&T Universal Card
Master Trust Series 1995-1.
Exhibit 99.2 Annual Statement for the Period Ending December
31, 1996 with respect to the AT&T Universal Card
Master Trust Series 1995-2.
Exhibit 99.3 Annual Statement for the Period Ending December
31, 1996 with respect to the AT&T Universal Card
Master Trust Series 1995-3.
Exhibit 99.4 Annual Statement for the Period Ending December
31, 1996 with respect to the AT&T Universal Card
Master Trust Series 1996-1.
Exhibit 99.5 Annual Statement for the Period Ending December
31, 1996 with respect to the AT&T Universal Card
Master Trust Series 1996-2.
Exhibit 99.6 Annual Statement for the Period Ending December
31, 1996 with respect to the AT&T Universal Card
Master Trust Series 1996-3.
Exhibit 99.7 AT&T Universal Card Services Corp. Officers
Certificate dated March 20, 1997.
*Exhibit 99.8 Report, dated _________, 1997, issued by Coopers &
Lybrand LLP.
- ---------------------------
*To be filed by Amendment.
9
<PAGE> 1
EXHIBIT 99.1
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1995-1
FOR THE PERIOD ENDING DECEMBER 31, 1996
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 Period regarding current
distributions to the Series 1995-1 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 01/01/96 - 12/31/96 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 Annual 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 $57.21944751
(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 $57.21944751
(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>
1
<PAGE> 2
<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 58.44278083
(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 58.44278083
(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>
2
<PAGE> 3
<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 $4,090,115.04
(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/ T.F. DONAHUE
--------------------------
Name: Tom Donahue
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (01/01/96): $6,299,652,342.49
Beginning of the Period Finance Charge Receivables (01/01/96): $85,531,135.44
Beginning of the Period Discounted Receivables: $0.00
Beginning of the Period Premium Receivables: $0.00
Beginning of the Period Total Receivables (01/01/96): $6,385,183,477.93
Removed Principal Recievables: $0.00
Removed Finance Charge Receivables: $0.00
Removed Total Receivables: $0.00
Additional Principal Receivables: (6/96,8/96) $2,539,038,868.84
Additional Finance Charge Receivables: (6/96,8/96) $29,206,358.10
Additional Total Receivables: $2,568,245,226.94
Discounted Receivables Generated this Period: $0.00
Premium Receivables Generated this Period: $0.00
End of the Period Principal Receivables (12/31/96): $8,578,282,506.37
End of the Period Finance Charge Receivables (12/31/96): $81,155,622.24
End of the Period Discounted Receivables: $0.00
End of the Period Premium Receivables: $0.00
End of the Period Total Receivables (12/31/96): $8,659,438,128.61
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
End of the Period Transferor Amount (12/31/96) $319,735,770.21
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
-----------
<S> <C>
End of the Period Delinquencies: (12/31/96)
30-60 Days Delinquent $97,263,417.47
61-90 Days Delinquent $63,753,782.94
90+ Days Delinquent $118,438,001.33
Total 30+ Days Delinquent $279,455,201.74
Defaulted Accounts During the Period $478,933,830.92
</TABLE>
4
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<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $870,000,000
Class B Initial Invested Amount $60,000,000
Collateral Initial Invested Amount $70,000,000
INITIAL INVESTED AMOUNT $1,000,000,000
Class A Invested Amount $870,000,000.00
Class B Invested Amount $60,000,000.00
Collateral Invested Amount $70,000,000.00
INVESTED AMOUNT $1,000,000,000
Class A Adjusted Invested Amount $870,000,000.00
Class B Adjusted Invested Amount $60,000,000.00
Collateral Invested Amount $70,000,000.00
ADJUSTED INVESTED AMOUNT $1,000,000,000
ANNUAL SERVICING FEE $20,000,000.04
INVESTOR DEFAULT AMOUNT $69,578,958.85
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.67%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $576,615,643.52
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $221,647,867.70
GROUP 1 INVESTOR ANNUAL FEES $64,111,111.12
GROUP 1 INVESTOR ANNUAL INTEREST $185,326,133.78
SERIES 1995-1 INFORMATION
SERIES 1995-1 ALLOCATION PERCENTAGE 20.49%
SERIES 1995-1 ALLOCABLE FINANCE CHARGE $239,342,088.80
COLLECTIONS
SERIES 1995-1 ADDITIONAL AMOUNTS $0.00
SERIES 1995-1 ALLOCABLE DEFAULTED AMOUNT $95,985,050.92
SERIES 1995-1 ANNUAL FEES $20,000,000.04
SERIES 1995-1 ALLOCABLE PRINCIPAL COLLECTIONS $2,822,087,028.39
SERIES 1995-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
FLOATING ALLOCATION PERCENTAGE 73.72%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $172,454,458.56
INVESTOR DEFAULT AMOUNT $69,578,958.85
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $179,312,996.51
PRINCIPAL ALLOCATIONS PERCENTAGE 73.47%
AVAILABLE PRINCIPAL COLLECTIONS $2,042,453,601.61
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reallocated $156,161,079.85
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $156,161,079.85
Class A Annual Interest $49,093,256.83
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $60,533,694.23
TOTAL CLASS A EXCESS SPREAD $46,534,128.79
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
CLASS B AVAILABLE FUNDS $10,758,779.79
Class B Annual Interest $3,458,941.85
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $7,299,837.94
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $12,551,909.76
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $12,551,909.76
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $66,385,876.49
</TABLE>
6
<PAGE> 7
<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 $4,174,737.54
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $4,090,115.04
Interest
Excess Spread Applied to Unpaid Annual $20,000,000.04
Servicing Fee
Excess Spread Applied Collateral Default Amount $4,870,527.12
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 $33,250,496.82
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $136,530,254.77
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 Annual Interest
Excess Finance Charge Collections Applied to $0.00
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<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, BASE, EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.66%
AVERAGE SERIES ADJUSTED PORTFOLIO 10.99%
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 3.33%
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
Class A Principal Collections $1,776,934,633.40
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $122,547,216.09
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $142,971,752.11
AVAILABLE PRINCIPAL COLLECTIONS $2,042,453,601.60
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1995-1 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
8
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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 $2,112,032,560.46
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/ T.F. DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 99.2
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1995-2
FOR THE PERIOD ENDING DECEMBER 31, 1996
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 year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 1/01/96 - 12/31/96 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 Annual 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 $59.50000000
(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 $59.50000000
(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>
1
<PAGE> 2
<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 $61.00000000
(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 $61.00000000
(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>
2
<PAGE> 3
<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 $2,310,806.68
(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/ T.F. DONAHUE
--------------------------
Name: Tom Donahue
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (01/01/96): $6,299,652,342.49
Beginning of the Period Finance Charge Receivables (01/01/96): $85,531,135.44
Beginning of the Period Discounted Receivables: $0.00
Beginning of the Period Premium Receivables: $0.00
Beginning of the Period Total Receivables (01/01/96): $6,385,183,477.93
Removed Principal Recievables: $0.00
Removed Finance Charge Receivables: $0.00
Removed Total Receivables: $0.00
Additional Principal Receivables: (6/96,8/96) $2,539,038,868.84
Additional Finance Charge Receivables: (6/96,8/96) $29,206,358.10
Additional Total Receivables: $2,568,245,226.94
Discounted Receivables Generated this Period: $0.00
Premium Receivables Generated this Period: $0.00
End of the Period Principal Receivables (12/31/96): $8,578,282,506.37
End of the Period Finance Charge Receivables (12/31/96): $81,155,622.24
End of the Period Discounted Receivables: $0.00
End of the Period Premium Receivables: $0.00
End of the Period Total Receivables (12/31/96): $8,659,438,128.61
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
End of the Period Transferor Amount (12/31/96) $239,801,827.66
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
-----------
<S> <C>
End of the Period Delinquencies: (12/31/96)
30-60 Days Delinquent $97,263,417.47
61-90 Days Delinquent $63,753,782.94
90+ Days Delinquent $118,438,001.33
Total 30+ Days Delinquent $279,455,201.74
Defaulted Accounts During the Period (01/01/96-12/31/96) $478,933,830.92
</TABLE>
4
<PAGE> 5
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $675,000,000
Class B Initial Invested Amount $35,625,000
Collateral Initial Invested Amount $39,375,000
INITIAL INVESTED AMOUNT $750,000,000
Class A Invested Amount $675,000,000.00
Class B Invested Amount $35,625,000.00
Collateral Invested Amount $39,375,000.00
INVESTED AMOUNT $750,000,000
Class A Adjusted Invested Amount $675,000,000.00
Class B Adjusted Invested Amount $35,625,000.00
Collateral Invested Amount $39,375,000.00
ADJUSTED INVESTED AMOUNT $750,000,000
ANNUAL SERVICING FEE $15,000,000.00
INVESTOR DEFAULT AMOUNT $52,184,219.15
GROUP II INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.95%
IN GROUP II
GROUP II INVESTOR FINANCE CHARGE COLLECTIONS $134,533,689.73
GROUP II INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP II INVESTOR DEFAULT AMOUNT $52,184,219.15
GROUP II INVESTOR ANNUAL FEES $15,000,000.00
GROUP II INVESTOR ANNUAL INTEREST $44,657,517.36
SERIES 1995-2 INFORMATION
SERIES 1995-2 ALLOCATION PERCENTAGE 15.37%
SERIES 1995-2 ALLOCABLE FINANCE CHARGE $179,506,566.61
COLLECTIONS
SERIES 1995-2 ADDITIONAL AMOUNTS $0.00
SERIES 1995-2 ALLOCABLE DEFAULTED AMOUNT $71,988,788.20
SERIES 1995-2 ANNUAL FEES $15,000,000.00
SERIES 1995-2 ALLOCABLE PRINCIPAL COLLECTIONS $2,116,565,271.28
SERIES 1995-2 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
FLOATING ALLOCATION PERCENTAGE 73.47%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $129,340,843.93
INVESTOR DEFAULT AMOUNT $52,184,219.15
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $134,544,775.41
PRINCIPAL ALLOCATIONS PERCENTAGE 73.72%
AVAILABLE PRINCIPAL COLLECTIONS $1,531,840,201.21
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 90.00%
Class A Floating Percentage of Reallocated $121,500,979.71
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $121,500,979.71
Class A Annual Interest $40,162,500.00
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $46,965,797.23
TOTAL CLASS A EXCESS SPREAD $34,372,682.49
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 4.75%
CLASS B AVAILABLE FUNDS $6,390,876.85
Class B Annual Interest $2,173,125.00
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $4,217,751.85
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 5.25%
COLLATERAL AVAILABLE FUNDS $7,063,600.72
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $7,063,600.72
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $45,654,035.06
</TABLE>
6
<PAGE> 7
<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 $2,478,750.41
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $2,310,806.68
Interest
Excess Spread Applied to Unpaid Annual $15,000,000.00
Servicing Fee
Excess Spread Applied Collateral Default Amount $2,739,671.52
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 $23,124,806.42
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $136,530,254.77
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 Annual Interest
Excess Finance Charge Collections Applied to $0.00
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<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, BASE, AND EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.95%
AVERAGE SERIES ADJUSTED PORTFOLIO 11.04%
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 3.09%
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 90.00%
Class A Principal Collections $1,378,656,181.08
CLASS B PRINCIPAL PERCENTAGE 4.75%
Class B Principal Collections $72,762,409.55
COLLATERAL PRINCIPAL PERCENTAGE 5.25%
Collateral Principal Collections $80,421,610.56
AVAILABLE PRINCIPAL COLLECTIONS $1,531,840,201.19
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1995-2 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<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 $1,584,024,420.36
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/ T.F. DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 99.3
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1995-3
FOR THE PERIOD ENDING DECEMBER 31, 1996
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 year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 01/01/96 - 12/31/96 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 Annual 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 $58.57496336
(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 $58.57496336
(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>
1
<PAGE> 2
<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 $59.69329689
(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 $59.69329689
(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>
2
<PAGE> 3
<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 $3,090,410.28
(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/ T.F. DONAHUE
--------------------------
Name: Tom Donahue
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<CAPTION>
RECEIVABLES ---
<S> <C>
Beginning of the Period Principal Receivables (01/01/96): $6,299,652,342.49
Beginning of the Period Finance Charge Receivables (01/01/96): $85,531,135.44
Beginning of the Period Discounted Receivables: $0.00
Beginning of the Period Premium Receivables: $0.00
Beginning of the Period Total Receivables (01/01/96): $6,385,183,477.93
Removed Principal Receivables: $0.00
Removed Finance Charge Receivables: $0.00
Removed Total Receivables: $0.00
Additional Principal Receivables: (6/96,8/96) $2,539,038,868.84
Additional Finance Charge Receivables: (6/96,8/96) $29,206,358.10
Additional Total Receivables: $2,568,245,226.94
Discounted Receivables Generated this Period: $0.00
Premium Receivables Generated this Period: $0.00
End of the Period Principal Receivables (12/31/96): $8,578,282,506.37
End of the Period Finance Charge Receivables (12/31/96): $81,155,622.24
End of the Period Discounted Receivables: $0.00
End of the Period Premium Receivables: $0.00
End of the Period Total Receivables (12/31/96): $8,659,438,128.61
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
End of the Period Transferor Amount $239,801,827.66
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
<S> <C>
End of the Period Delinquencies:
30-60 Days Delinquent $97,263,417.47
61-90 Days Delinquent $63,753,782.94
90+ Days Delinquent $118,438,001.33
Total 30+ Days Delinquent $279,455,201.74
Defaulted Accounts During the Period $478,933,830.92
</TABLE>
4
<PAGE> 5
<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
Class B Invested Amount $45,000,000
Collateral Invested Amount $52,500,000
INVESTED AMOUNT $750,000,000
Class A Adjusted Invested Amount $652,500,000
Class B Adjusted Invested Amount $45,000,000
Collateral Invested Amount $52,500,000
ADJUSTED INVESTED AMOUNT $750,000,000
ANNUAL SERVICING FEE $15,000,000.00
INVESTOR DEFAULT AMOUNT $52,184,219.15
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.67%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $576,615,643.52
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $221,647,867.70
GROUP 1 INVESTOR ANNUAL FEES $64,111,111.12
GROUP 1 INVESTOR ANNUAL INTEREST $185,326,133.78
SERIES 1995-3 INFORMATION
SERIES 1995-3 ALLOCATION PERCENTAGE 15.37%
SERIES 1995-3 ALLOCABLE FINANCE CHARGE $179,506,566.61
COLLECTIONS
SERIES 1995-3 ADDITIONAL AMOUNTS $0.00
SERIES 1995-3 ALLOCABLE DEFAULTED AMOUNT $71,988,788.20
SERIES 1995-3 ANNUAL FEES $15,000,000.00
SERIES 1995-3 ALLOCABLE PRINCIPAL COLLECTIONS $2,116,565,271.28
SERIES 1995-3 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
FLOATING ALLOCATION PERCENTAGE 73.72%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $129,340,843.93
INVESTOR DEFAULT AMOUNT $52,184,219.15
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $136,003,495.34
PRINCIPAL ALLOCATIONS PERCENTAGE 73.72%
AVAILABLE PRINCIPAL COLLECTIONS $1,531,840,201.21
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reallocated $118,576,350.60
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $118,576,350.60
Class A Annual Interest $38,220,163.59
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $45,400,270.66
TOTAL CLASS A EXCESS SPREAD $34,955,916.18
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
CLASS B AVAILABLE FUNDS $8,160,209.72
Class B Annual Interest $2,686,198.36
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $5,474,011.37
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $9,520,244.67
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $9,520,244.67
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $49,950,172.22
</TABLE>
6
<PAGE> 7
<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 $3,131,053.16
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $3,090,410.28
Interest
Excess Spread Applied to Unpaid Annual $15,000,000.00
Servicing Fee
Excess Spread Applied Collateral Default Amount $3,652,895.34
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 $25,075,813.65
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $136,530,254.77
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 Annual Interest
Excess Finance Charge Collections Applied to $0.00
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<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, BASE, AND EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.87%
AVERAGE SERIES ADJUSTED PORTFOLIO 11.21%
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 3.34%
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
Class A Principal Collections $1,332,700,975.04
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $91,910,412.07
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $107,228,814.07
AVAILABLE PRINCIPAL COLLECTIONS $1,531,840,201.18
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1995-3 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<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 $1,584,024,420.36
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/ T.F. DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 99.4
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1996-1
FOR THE PERIOD ENDING DECEMBER 31, 1996
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 Period regarding current
distributions to the Series 1996-1 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 04/01/96 - 12/31/96 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 Annual 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 $41.45117554
(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 $41.45117554
(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>
1
<PAGE> 2
<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 42.43367550
(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 42.43367550
(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>
2
<PAGE> 3
<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 $2,939,517.58
(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/ T.F. Donahue
--------------------------
Name: Tom Donahue
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<CAPTION>
RECEIVABLES ---
<S> <C>
Beginning of the Period Principal Receivables (04/01/96): $5,757,313,736.46
Beginning of the Period Finance Charge Receivables (04/01/96): $79,157,511.97
Beginning of the Period Discounted Receivables: $0.00
Beginning of the Period Premium Receivables: $0.00
Beginning of the Period Total Receivables (01/01/96): $5,836,471,248.43
Removed Principal Recievables: $0.00
Removed Finance Charge Receivables: $0.00
Removed Total Receivables: $0.00
Additional Principal Receivables: (6/96,8/96) $2,539,038,868.84
Additional Finance Charge Receivables: (6/96,8/96) $29,206,358.10
Additional Total Receivables: $2,568,245,226.94
Discounted Receivables Generated this Period: $0.00
Premium Receivables Generated this Period: $0.00
End of the Period Principal Receivables (12/31/96): $8,578,282,506.37
End of the Period Finance Charge Receivables (12/31/96): $81,155,622.24
End of the Period Discounted Receivables: $0.00
End of the Period Premium Receivables: $0.00
End of the Period Total Receivables (12/31/96): $8,659,438,128.61
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
End of the Period Transferor Amount (12/31/96) $319,735,770.21
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
-----------
<S> <C>
End of the Period Delinquencies: (12/31/96)
30-60 Days Delinquent $97,263,417.47
61-90 Days Delinquent $63,753,782.94
90+ Days Delinquent $118,438,001.33
Total 30+ Days Delinquent $279,455,201.74
Defaulted Accounts During the Period: (4/1/96-12/31/96) $374,922,908.91
</TABLE>
4
<PAGE> 5
<TABLE>
<CAPTION>
INVESTED AMOUNTS ---
<S> <C> <C>
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
ANNUAL SERVICING FEE $15,000,000.03
INVESTOR DEFAULT AMOUNT $52,359,053.49
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.67%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $495,621,554.26
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $191,513,033.31
GROUP 1 INVESTOR ANNUAL FEES $55,361,111.11
GROUP 1 INVESTOR ANNUAL INTEREST $160,266,021.27
SERIES 1996-1 INFORMATION
SERIES 1996-1 ALLOCATION PERCENTAGE 17.82%
SERIES 1996-1 ALLOCABLE FINANCE CHARGE $162,223,915.86
COLLECTIONS
SERIES 1996-1 ADDITIONAL AMOUNTS $0.00
SERIES 1996-1 ALLOCABLE DEFAULTED AMOUNT $66,346,785.53
SERIES 1996-1 ANNUAL FEES $15,000,000.03
SERIES 1996-1 ALLOCABLE PRINCIPAL COLLECTIONS $1,966,405,189.47
SERIES 1996-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
FLOATING ALLOCATION PERCENTAGE 78.94%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $127,764,494.01
INVESTOR DEFAULT AMOUNT $52,359,053.49
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $132,286,230.60
PRINCIPAL ALLOCATIONS PERCENTAGE 78.94%
AVAILABLE PRINCIPAL COLLECTIONS $1,547,346,606.23
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $112,640,526.18
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $112,640,526.18
Class A Annual Interest $35,233,499.21
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $44,505,195.48
TOTAL CLASS A EXCESS SPREAD $32,901,831.49
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
CLASS B AVAILABLE FUNDS $10,582,898.45
Class B Annual Interest $3,394,694.04
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $7,188,204.40
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $9,260,036.13
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $9,260,036.13
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $49,350,072.02
</TABLE>
6
<PAGE> 7
<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 $4,188,724.29
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $2,942,517.58
Interest
Excess Spread Applied to Unpaid Annual $15,000,000.03
Servicing Fee
Excess Spread Applied Collateral Default Amount $3,665,133.74
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 $23,556,696.40
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $136,530,254.77
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 Annual Interest
Excess Finance Charge Collections Applied to $0.00
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<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, BASE, EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.54%
AVERAGE SERIES ADJUSTED PORTFOLIO 10.68%
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 3.14%
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
Class A Principal Collections $1,315,244,615.29
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $123,787,728.49
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $108,314,262.43
AVAILABLE PRINCIPAL COLLECTIONS $1,547,346,606.21
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1996-1 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<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 $1,599,705,659.72
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/ T.F. DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 99.5
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1996-2
FOR THE PERIOD ENDING DECEMBER 31, 1996
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-2 Supplement dated as of
06/30/96 (the "Supplement") among UCS, Funding" and the Trustee, as Servicer is
required to prepare certain information each Period regarding current
distributions to the Series 1996-2 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 07/01/96 - 12/31/96 is set forth below. Certain
of the information is presented on the basis of an original principal amount of
$1,000 per Series 1996-2 Certificate (a "Certificate"). Certain other
information is presented based on the aggregate amounts for the Trust as a
whole. Capitalized terms used in this Annual 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 $31.84763112
(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 $31.84763112
(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>
1
<PAGE> 2
<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 32.64096438
(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 32.64096438
(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>
2
<PAGE> 3
<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 $2,320,523.37
(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/ T.F. DONAHUE
--------------------------
Name: Tom Donahue
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (07/01/96): $6,632,375,642.41
Beginning of the Period Finance Charge Receivables (07/01/96): $88,334,250.14
Beginning of the Period Discounted Receivables: $0.00
Beginning of the Period Premium Receivables: $0.00
Beginning of the Period Total Receivables (01/01/96): $6,720,709,892.55
Removed Principal Recievables: $0.00
Removed Finance Charge Receivables: $0.00
Removed Total Receivables: $0.00
Additional Principal Receivables: (8/96) $1,498,373,983.41
Additional Finance Charge Receivables: (8/96) $15,287,871.84
Additional Total Receivables: $1,513,661,855.25
Discounted Receivables Generated this Period: $0.00
Premium Receivables Generated this Period: $0.00
End of the Period Principal Receivables (12/31/96): $8,578,282,506.37
End of the Period Finance Charge Receivables (12/31/96): $81,155,622.24
End of the Period Discounted Receivables: $0.00
End of the Period Premium Receivables: $0.00
End of the Period Total Receivables (12/31/96): $8,659,438,128.61
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
End of the Period Transferor Amount (12/31/96) $319,735,770.21
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
-----------
<S> <C>
End of the Period Delinquencies: (12/31/96)
30-60 Days Delinquent $97,263,417.47
61-90 Days Delinquent $63,753,782.94
90+ Days Delinquent $118,438,001.33
Total 30+ Days Delinquent $279,455,201.74
Defaulted Accounts During the Period $256,461,714.66
</TABLE>
4
<PAGE> 5
<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
ANNUAL SERVICING FEE $10,000,000.02
INVESTOR DEFAULT AMOUNT $39,208,889.11
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 4.88%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $371,062,257.88
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $137,791,887.60
GROUP 1 INVESTOR ANNUAL FEES $41,611,111.12
GROUP 1 INVESTOR ANNUAL INTEREST $123,303,560.30
SERIES 1996-2 INFORMATION
SERIES 1996-2 ALLOCATION PERCENTAGE 16.31%
SERIES 1996-2 ALLOCABLE FINANCE CHARGE $124,114,623.77
COLLECTIONS
SERIES 1996-2 ADDITIONAL AMOUNTS $0.00
SERIES 1996-2 ALLOCABLE DEFAULTED AMOUNT $49,741,598.86
SERIES 1996-2 ANNUAL FEES $10,000,000.02
SERIES 1996-2 ALLOCABLE PRINCIPAL COLLECTIONS $1,552,243,204.93
SERIES 1996-2 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
FLOATING ALLOCATION PERCENTAGE 78.38%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $97,581,518.64
INVESTOR DEFAULT AMOUNT $69,208,889.11
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $101,572,894.44
PRINCIPAL ALLOCATIONS PERCENTAGE 78.38%
AVAILABLE PRINCIPAL COLLECTIONS $1,219,184,407.40
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $86,451,923.67
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $86,451,923.67
Class A Annual Interest $27,070,486.45
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $33,327,555.74
TOTAL CLASS A EXCESS SPREAD $26,053,881.50
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
CLASS B AVAILABLE FUNDS $8,125,831.56
Class B Annual Interest $2,611,277.15
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $5,514,554.38
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $7,110,102.63
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $7,110,102.63
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $38,678,538.51
</TABLE>
6
<PAGE> 7
<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 $3,136,711.13
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $2,320,523.37
Interest
Excess Spread Applied to Unpaid Annual $10,000,000.02
Servicing Fee
Excess Spread Applied Collateral Default Amount $2,744,622.24
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 $20,476,681.76
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $136,530,254.77
FOR ALL ALLOCATION SERIES
SERIES 1996-2 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-2
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Annual Interest
Excess Finance Charge Collections Applied to $0.00
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<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, BASE, EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.40%
AVERAGE SERIES ADJUSTED PORTFOLIO 10.82%
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 3.42%
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
Class A Principal Collections $1,036,306,746.30
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $97,534,752.59
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $85,342,908.52
AVAILABLE PRINCIPAL COLLECTIONS $1,219,184,407.41
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1996-2 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<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 $1,258,393,296.51
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/ T.F. DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 99.6
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1996-3
FOR THE PERIOD ENDING DECEMBER 31, 1996
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-3 Supplement dated as of
09/17/96 (the "Supplement") among UCS, Funding" and the Trustee, as Servicer is
required to prepare certain information each Period regarding current
distributions to the Series 1996-3 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 09/01/96 - 12/31/96 is set forth below. Certain
of the information is presented on the basis of an original principal amount of
$1,000 per Series 1996-3 Certificate (a "Certificate"). Certain other
information is presented based on the aggregate amounts for the Trust as a
whole. Capitalized terms used in this Annual 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 $14.47152778
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $14.47152778
(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>
1
<PAGE> 2
<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 14.97708325
(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 14.97708325
(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>
2
<PAGE> 3
<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 $1,378,684.76
(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/ T.F. DONAHUE
--------------------------
Name: Tom Donahue
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (09/01/96): $8,207,113,299.92
Beginning of the Period Finance Charge Receivables (09/01/96): $88,744,753.43
Beginning of the Period Discounted Receivables: $0.00
Beginning of the Period Premium Receivables: $0.00
Beginning of the Period Total Receivables (09/01/96): $8,295,858,053.35
Removed Principal Recievables: $0.00
Removed Finance Charge Receivables: $0.00
Removed Total Receivables: $0.00
Additional Principal Receivables: $0.00
Additional Finance Charge Receivables: $0.00
Additional Total Receivables: $0.00
Discounted Receivables Generated this Period: $0.00
Premium Receivables Generated this Period: $0.00
End of the Period Principal Receivables (12/31/96): $8,578,282,506.37
End of the Period Finance Charge Receivables (12/31/96): $81,155,622.24
End of the Period Discounted Receivables: $0.00
End of the Period Premium Receivables: $0.00
End of the Period Total Receivables (12/31/96): $8,659,438,128.61
Special Funding Account Balance $0.00
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
End of the Period Transferor Amount (12/31/96) $319,735,770.21
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
-----------
<S> <C>
End of the Period Delinquencies: (12/31/96)
30-60 Days Delinquent $97,263,417.47
61-90 Days Delinquent $63,753,782.94
90+ Days Delinquent $118,438,001.33
Total 30+ Days Delinquent $279,455,201.74
Defaulted Accounts During the Period $172,026,312.52
</TABLE>
4
<PAGE> 5
<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
ANNUAL SERVICING FEE $5,777,777.79
INVESTOR DEFAULT AMOUNT $21,210,865.12
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.69%
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $274,083,999.52
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
GROUP 1 INVESTOR DEFAULT AMOUNT $100,751,609.32
GROUP 1 INVESTOR ANNUAL FEES $30,777,777.79
GROUP 1 INVESTOR ANNUAL INTEREST $91,530,396.61
SERIES 1996-3 INFORMATION
SERIES 1996-3 ALLOCATION PERCENTAGE 15.38%
SERIES 1996-3 ALLOCABLE FINANCE CHARGE $69,393,957.76
COLLECTIONS
SERIES 1996-3 ADDITIONAL AMOUNTS $0.00
SERIES 1996-3 ALLOCABLE DEFAULTED AMOUNT $26,465,586.55
SERIES 1996-3 ANNUAL FEES $5,777,777.79
SERIES 1996-3 ALLOCABLE PRINCIPAL COLLECTIONS $897,007,210.45
SERIES 1996-3 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
FLOATING ALLOCATION PERCENTAGE 80.13%
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $55,588,115.58
INVESTOR DEFAULT AMOUNT $21,210,865.12
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $57,157,822.19
PRINCIPAL ALLOCATIONS PERCENTAGE 80.13%
AVAILABLE PRINCIPAL COLLECTIONS $718,410,201.48
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $48,877,490.08
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS $48,877,490.08
Class A Annual Interest $16,436,855.64
Class A Servicing Fee (if applicable) $0.00
Class A Investor Default Amount $18,029,235.35
TOTAL CLASS A EXCESS SPREAD $14,411,399.09
CLASS A REQUIRED AMOUNT $0.00
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
CLASS B AVAILABLE FUNDS $4,572,625.78
Class B Annual Interest $1,601,220.39
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD $2,971,405.37
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
COLLATERAL AVAILABLE FUNDS $4,001,047.55
Collateral Interest Servicing Fee (if applicable) $0.00
TOTAL COLLATERAL EXCESS SPREAD $4,001,047.55
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $21,383,852.01
</TABLE>
6
<PAGE> 7
<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 $1,696,869.21
Excess Spread Applied to Reductions of Class B $0.00
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $1,378,684.76
Interest
Excess Spread Applied to Unpaid Annual $5,777,777.79
Servicing Fee
Excess Spread Applied Collateral Default Amount $1,484,760.56
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 $11,045,759.72
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $136,530,254.77
FOR ALL ALLOCATION SERIES
SERIES 1996-3 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-3
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Annual Interest
Excess Finance Charge Collections Applied to $0.00
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<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, BASE, EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.56%
AVERAGE SERIES ADJUSTED PORTFOLIO 10.87%
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 3.31%
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
Class A Principal Collections $610,648,671.26
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $57,472,816.12
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $50,288,714.10
AVAILABLE PRINCIPAL COLLECTIONS $718,410,201.48
REALLOCATED PRINCIPAL COLLECTIONS $0.00
SERIES 1996-3 PRINCIPAL SHORTFALL $0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<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 $739,621,066.60
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/ T.F. DONAHUE
------------------------------
Name: Tom Donahue
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 99.7
March 20, 1997
Bankers Trust Company
4 Albany Street
10th floor
New York, NY 10006
AT&T UNIVERSAL CARD SERVICES CORP.
The undersigned, a duly authorized representative of AT&T
Universal Card Services Corp., as Servicer ("UCS"), pursuant to the Pooling and
Servicing Agreement dated as of August 1, 1995 (as amended and supplemented,
the "Agreement"), among AT&T Universal Funding Corp., as Transferor, UCS, and
Bankers Trust Company, as Trustee, does hereby certify that:
1. UCS is, as of the date hereof, the Servicer under the
Agreement. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement.
2. The undersigned is a Servicing Officer who is duly
authorized pursuant to the Agreement to execute and deliver this Certificate to
the Trustee.
3. A review of the activities of the Servicer during the year
ended December 31, 1996, and of its performance under the Agreement was
conducted under my supervision.
4. Based on such review, the Servicer has, to the best of my
knowledge, performed in all material respects its obligations under the
Agreement throughout such year and no default in the performance of such
obligations has occurred or is continuing.
IN WITNESS WHEREOF, the undersigned has duly executed this
Certificate as of the date first written above.
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer,
By /s/ Robert A. Miller
---------------------------
Robert A. Miller
Vice President of Finance
