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Previous: MUNICIPAL INVESTMENT TR FD MULTISTATE SER 214 DEF ASSET FDS, 24F-2NT, 1997-02-18 |
Next: MORGENTHALER VENTURE PARTNERS IV, SC 13G, 1997-02-18 |
<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) February 18, 1997
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)
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 January 31,
1997 for the AT&T Universal Card Master Trust Series 1995-1, Series
1995-2, Series 1995-3, Series 1996-1, Series 1996-2, and Series
1996-3 Certificates were distributed on February 18, 1997.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits 20.1,
20.2, 20.3, 20.4, 20.5, and 20.6.
<TABLE>
<S> <C> <C>
Exhibit 20.1 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1995-1.
Exhibit 20.2 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1995-2.
Exhibit 20.3 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1995-3.
Exhibit 20.4 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1996-1.
Exhibit 20.5 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1996-2.
</TABLE>
<PAGE> 3
<TABLE>
<S> <C> <C>
Exhibit 20.6 Monthly Servicing Report dated
February 18, 1997 with respect to the AT&T
Universal Master Trust Series
1996-3.
</TABLE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AT&T UNIVERSAL FUNDING CORP.
By: /s/ Robert A. Miller
---------------------------------
Name: Robert A. Miller
Title: Assistant Treasurer
<PAGE> 4
EXHIBIT INDEX
<TABLE>
Exhibit Description Page
- ------- ----------- ------
<S> <C>
20.1 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1995-1.
20.2 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1995-2.
20.3 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1995-3.
20.4 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1996-1.
20.5 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust
Series 1996-2.
20.6 Monthly Servicing Report dated
February 18, 1997 with respect to the
AT&T Universal Card Master Trust Series
1996-3.
</TABLE>
<PAGE> 1
EXHIBIT 20.1
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 31-Jan-97
Credit Card Asset Backed Securities Series 1995-1 Distribution Date 18-Feb-97
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <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% 75.7560021%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 75.7560021%
Finance Charge Collections 11,347,799.81 782,606.88 913,041.36 13,043,448.06
Total Yield
Trust Portfolio Yield
Principal Collections 169,793,514.34 11,709,897.54 13,661,547.13 195,164,959.01
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,357,704.27 300,531.33 350,619.88 5,008,855.48
Monthly Default Rate
Net Monthly Default Rate
Recoveries 594,690.84 41,013.16 47,848.69 683,552.68
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 1996-2
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.59905% 5.76237% 5.70612% 5.65887%
Investor Finance Charge Collections 13,727,000.75 10,295,250.56 13,727,000.75 13,727,000.75
Investor Principal Collections 195,164,959.01 146,373,719.26 195,164,959.01 195,164,959.01
Investor Default Amount Due 5,008,855.48 3,756,641.61 5,008,855.48 5,008,855.48
Investor Monthly Interest Due 4,974,707.02 3,839,580.27 5,069,440.36 5,028,329.24
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.58000% 5.70000% 5.71351%
Investor Monthly Interest Due 4,315,200.00 304,000.00 355,507.02 4,974,707.02
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 4,315,200.00 304,000.00 355,507.02 4,974,707.02
Investor Default Amount Due 4,357,704.27 300,531.33 350,619.88 5,008,855.48
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 10,122,904.27 704,531.33 822,793.57 11,650,229.17
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 13,657,874.36
Interest/Principal/Spread Investment Proceeds 52,220.56
Series Adjusted Portfolio Yield 10.44%
Base Rate 7.97%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,580,178,226.45
Special Funding Account Balance 0.00
Beginning Total Principal Balance 8,580,178,226.45
Series Allocation Percentage 15.38%
Beginning Invested/Transferor Amount 320,027,419.45 1,320,027,419.45
Floating Allocation Percentage 24.2439979% 100.0000000%
Principal Allocation Percentage 24.2439979% 100.0000000%
Finance Charge Collections 4,174,261.02 17,217,709.09 111,915,109.06
Total Yield 15.65%
Trust Portfolio Yield 10.46%
Principal Collections 62,458,138.20 257,623,097.21 1,674,550,131.89
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 19.52%
Defaults 1,602,971.09 6,611,826.57 42,976,872.74
Monthly Default Rate 6.01%
Net Monthly Default Rate 5.19%
Recoveries 218,755.60 902,308.29 5,865,003.86
Adjustments (32,837,472.34)
New Receivables 1,347,265,511.50
Ending Principal Receivables Balance 8,242,754,205.67
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,242,754,205.67
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 268,116,031.64 1,268,116,031.64 8,242,754,205.67
- ------------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1996-3 Group Total
- -------------------
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.68067% 5.67715%
Investor Finance Charge Collections 13,727,000.75 65,203,253.54
Investor Principal Collections 195,164,959.01 927,033,555.31
Investor Default Amount Due 5,008,855.48 23,792,063.53
Investor Monthly Interest Due 5,046,151.82 23,958,208.71
Investor Monthly Fees Due 1,666,666.67 7,916,666.67
Investor Additional Amounts Due 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Amounts Due
Total Due
- ---------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest/Principal/Spread Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 11,934,571.25 819,472.46 956,051.20 13,710,094.92
Monthly Interest Paid 4,315,200.00 304,000.00 0.00 4,619,200.00
Investor Default Amount Paid 4,357,704.27 0.00 0.00 4,357,704.27
Excess Spread 3,261,666.98 515,472.46 956,051.20 4,733,190.65
- -------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 300,531.33 300,531.33
Required Amount 0.00 300,531.33 300,531.33
- -------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 355,507.02 355,507.02
Investor Default Paid 0.00 300,531.33 350,619.88 651,151.21
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,059,865.75
- -------------------------------------------------------------------------------------------------------------------------
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 12,406,200.00 874,000.00 355,507.02 13,635,707.02
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 12,406,200.00 874,000.00 355,507.02 13,635,707.02
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 14.2600 14.5667 5.0787
Interest Distribution Per 1,000 Certificate 14.2600 14.5667 5.0787
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 3,910,650.00 275,500.00 4,186,150.00
2nd Collection Accounts Deposit 4,180,350.00 294,500.00 4,474,850.00
3rd Collection Accounts Deposit 4,315,200.00 304,000.00 4,619,200.00
Quarterly Interest Distribution 12,406,200.00 874,000.00 13,280,200.00
</TABLE>
<TABLE>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 176,744 44,213 21,540 16,036 23,599 282,132
Balance of Accounts 405,963,577 98,207,699 61,150,198 48,671,664 73,288,924 687,282,062.23
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest -0.0220% (2,222.22) CIA Investor Interest Reduced Margin
Prior Month Account Owner Retained Interest Factor 0.3112%
Current Month Account Owner Retained Interest Factor 0.2892%
</TABLE>
<PAGE> 3
AT&T UNIVERSAL CARD MASTER TRUST
1997 - Day Counts
<TABLE>
<CAPTION>
# of # of Days in
Month # of Mondays Posting Days* Coupon Period
-------------------------------------------------------------------
<S> <C> <C> <C>
Jan. 4 22 32
Feb. 4 20 27
March 5 21 31
April 4 22 32
May 4 22 29
June 5 21 30
July 4 23 32
Aug. 4 21 30
Sept. 5 22 30
Oct. 4 23 31
Nov. 4 19 30
Dec. 5 22 34
</TABLE>
<PAGE> 4
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 2/18/97 with respect to the performance of the Trust
during the month of 1/1/97-1/31/97 is set forth below. Certain of the
information is presented on the basis of an original principal amount of $1,000
per Series 1995-1 Certificate (a "Certificate"). Certain other information is
presented based on the aggregate amounts for the Trust as a whole. Capitalized
terms used in this Monthly Statement have their respective meanings set forth
in the Pooling and Servicing Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $14.26000000
------------
(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 $14.26000000
------------
(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> 5
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
(2) The amount of Class A Investors -----
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
(3) The total amount reimbursed in -----
respect of Class A Investor Charge
Offs $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount 0.00000000
(2) The amount of the distribution ----------
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount 14.56666667
(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> 6
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
(3) The total amount reimbursed in -----
respect of such reductions in the
Class B Invested Amount $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $355,507.02
(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> 7
<TABLE>
<CAPTION>
RECEIVABLES ---
<S> <C>
Beginning of the Month Principal Receivables: $8,580,178,226.45
-----------------
Beginning of the Month Finance Charge Receivables: $81,173,556.87
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,661,351,783.32
-----------------
Removed Principal Receivables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,242,754,205.67
-----------------
End of the Month Finance Charge Receivables: $81,737,805.04
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,324,492,010.71
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $268,116,031.64
---------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCIES AND LOSSES --- RECEIVABLES
<S> <C>
End of the Month Delinquencies:
30-60 Days Delinquent $98,207,698.57
--------------
61-90 Days Delinquent $61,150,198.10
--------------
90+ Days Delinquent $121,960,588.52
---------------
Total 30+ Days Delinquent $281,318,485.19
---------------
Defaulted Accounts During the Month $42,976,872.74
--------------
</TABLE>
C-4
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $870,000,000
------------
Class B Initial Invested Amount $60,000,000
-----------
Collateral Initial Invested Amount $70,000,000
INITIAL INVESTED AMOUNT ----------- $1,000,000,000
--------------
Class A Invested Amount $870,000,000.00
---------------
Class B Invested Amount $60,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
INVESTED AMOUNT $1,000,000,000
--------------
Class A Adjusted Invested Amount $870,000,000.00
---------------
Class B Adjusted Invested Amount $60,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
ADJUSTED INVESTED AMOUNT -------------- $1,000,000,000
--------------
MONTHLY SERVICING FEE $1,666,666.67
-------------
INVESTOR DEFAULT AMOUNT $55,008,855.48
--------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.68%
IN GROUP 1 -----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $65,203,253.54
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $23,792,063.53
--------------
GROUP 1 INVESTOR MONTHLY FEES $7,916,666.67
-------------
GROUP 1 INVESTOR MONTHLY INTEREST $23,958,208.71
--------------
SERIES 1995-1 INFORMATION
SERIES 1995-1 ALLOCATION PERCENTAGE 15.38%
------
SERIES 1995-1 ALLOCABLE FINANCE CHARGE $17,217,709.09
COLLECTIONS --------------
SERIES 1995-1 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-1 ALLOCABLE DEFAULTED AMOUNT $6,611,826.57
-------------
SERIES 1995-1 MONTHLY FEES $1,666,666.67
-------------
SERIES 1995-1 ALLOCABLE PRINCIPAL COLLECTIONS $$257,623,097.21
----------------
SERIES 1995-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 75.76%
------
</TABLE>
C-5
<PAGE> 9
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,043,448.06
--------------
INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $13,657,874.36
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 75.76%
------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reallocated $11,934,571.25
Investor Finance Charge Collections --------------
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS ----- $11,934,571.25
--------------
Class A Monthly Interest $4,315,200.00
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,357,704.27
TOTAL CLASS A EXCESS SPREAD ------------- $3,261,666.98
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
-----
CLASS B AVAILABLE FUNDS $819,472.46
-----------
Class B Monthly Interest $304,000.00
-----------
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD ----- $515,472.46
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $956,051.20
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $956,051.20
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $4,733,190.65
-------------
</TABLE>
C-6
<PAGE> 10
<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 $300,531.33
-----------
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 $355,507.02
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $350,619.88
-----------
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 $2,059,865.75
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $13,546,407.42
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>
C-7
<PAGE> 11
<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) 7.97%
-----
Base Rate (Prior Month) 7.79%
-----
Base Rate (Two Months Ago) 7.40%
THREE MONTH AVERAGE BASE RATE ----- 7.72%
-----
Series Adj Portfolio Yield (Curr Month) JAN: (22 posting days / 4 Mondays) 10.44%
------
Series Adj Portfolio Yield (Prior Month) DEC: (21 posting days / 5 Mondays) 12.06%
------
Series Adj Port Yield (Two Months Ago) NOV: (20 posting days / 4 Mondays) 9.41%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO ----- 10.64%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
------
Class A Principal Collections $169,793,514.34
---------------
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $11,709,897.54
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $13,661,547.13
--------------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-1 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 12
<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 $200,173,814.49
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
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 31-Jan-97
Credit Card Asset Backed Securities Series 1995-2 Distribution Date 18-Feb-97
- -------------------------------------------------------------------------------------------------------------------------------
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% 75.7560021%
Principal Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 75.7560021%
Finance Charge Collections 8,804,327.44 464,672.84 513,585.77 9,782,586.05
Total Yield
Trust Portfolio Yield
Principal Collections 131,736,347.33 6,952,751.66 7,684,620.26 146,373,719.26
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,380,977.45 178,440.48 197,223.68 3,756,641.61
Monthly Default Rate
Net Monthly Default Rate
Recoveries 461,398.06 24,351.56 26,914.89 512,664.51
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 5.94921% 0.0000% 0.0000% 0.0000%
Investor Finance Charge Collections 10,295,250.56 0.00 0.00 0.00
Investor Principal Collections 146,373,719.26 0.00 0.00 0.00
Investor Default Amount Due 3,756,641.61 0.00 0.00 0.00
Investor Monthly Interest Due 3,728,941.45 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 5.95000% 6.10000% 5.74208%
Investor Monthly Interest Due 3,346,875.00 181,093.75 200,972.70 3,728,941.45
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 3,346,875.00 181,093.75 200,972.70 3,728,941.45
Investor Default Amount Due 3,380,977.45 178,440.48 197,223.68 3,756,641.61
Investor Monthly Fees Due 1,125,000.00 59,375.00 65,625.00 1,250,000.00
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 7,852,852.45 418,909.23 463,821.38 8,735,583.06
- -------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 10,295,250.56
Interest/Principal/Spread Investment Proceeds 55,386.79
Series Adjusted Portfolio Yield 10.55%
Base Rate 7.97%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,580,178,226.45
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,580,178,226.45
Series Allocation Percentage 11.54%
Beginning Invested /Transferor Amount 240,020,564.59 990,020,564.59
Floating Allocation Percentage 24.2439979% 100.0000000%
Principal Allocation Percentage 24.2439979% 100.0000000%
Finance Charge Collections 3,130,695.77 12,913,281.81 111,915,109.06
Total Yield 15.65%
Trust Portfolio Yield 10.46%
Principal Collections 46,843,603.65 193,217,322.91 1,674,550,131.89
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 19.52%
Defaults 1,202,228.32 4,958,869.93 42,976,872.74
Monthly Default Rate 6.01%
Net Monthly Default Rate 5.19%
Recoveries 164,066.70 676,731.21 5,865,003.86
Adjustments (32,837,472.34)
New Receivables 1,347,265,511.50
Ending Principal Receivables Balance 8,242,754,205.67
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,242,754,205.67
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 201,087,023.73 951,087,023.73 8,242,754,205.67
- ----------------------------------------------------------------------------------------------------------------
Group II Information Group Total
- --------------------
Invested Amount 750,000,000.00
Average Rate 5.94921%
Investor Finance Charge Collections 10,295,250.56
Investor Principal Collections 146,373,719.26
Investor Default Amount Due 3,756,641.61
Investor Monthly Interest Due 3,728,941.45
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/Principal/Spread Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 9,321,112.29 489,024.40 540,500.65 10,350,637.35
Monthly Interest Paid 3,346,875.00 181,093.75 0.00 3,527,968.75
Investor Default Amount Paid 3,380,977.45 0.00 0.00 3,380,977.45
Excess Spread 2,593,259.84 307,930.65 540,500.65 3,441,691.15
- -----------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 178,440.48 178,440.48
Required Amount 0.00 178,440.48 178,440.48
- -----------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 200,972.70 200,972.70
Investor Default Paid 0.00 178,440.48 197,223.68 375,664.16
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 1,615,054.29
- -----------------------------------------------------------------------------------------------------------------------
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 3,346,875.00 181,093.75 200,972.70 3,728,941.45
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 3,346,875.00 181,093.75 200,972.70 3,728,941.45
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 5.1041
- -----------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 4.9583 5.0833 5.1041
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 176,744 44,213 21,540 16,036 23,599 282,132
Balance of Accounts 405,963,577 98,207,699 61,150,198 48,671,664 73,288,924 687,282,062.23
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest -0.0220% (2,000.00) CIA Investor Interest Reduced Margin
Prior Month Account Owner Retained Interest Factor 0.3112%
Current Month Account Owner Retained Interest Factor 0.2892%
</TABLE>
<PAGE> 3
AT&T UNIVERSAL CARD MASTER TRUST
1997 - DAY COUNTS
<TABLE>
<CAPTION>
# of # of Days in
Month # of Mondays Posting Days* Coupon Period
----------------------------------------------------------------------------
<S> <C> <C> <C>
Jan. 4 22 32
Feb. 4 20 27
March 5 21 31
April 4 22 32
May 4 22 29
June 5 21 30
July 4 23 32
Aug. 4 21 30
Sept. 5 22 30
Oct. 4 23 31
Nov. 4 19 30
Dec. 5 22 34
</TABLE>
<PAGE> 4
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 2/18/97, and with
respect to the performance of the Trust during the month of
1/1/97-1/31/97 is set forth below. Certain of the information is
presented on the basis of an original principal amount of $1,000 per
Series 1995-2 Certificate (a "Certificate"). Certain other
information is presented based on the aggregate amounts for the Trust
as a whole. Capitalized terms used in this Monthly Statement have
their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $4.95833333
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $4.95833333
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
C-1
<PAGE> 5
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
(2) The amount of Class A Investors -----
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
(3) The total amount reimbursed in -----
respect of Class A Investor Charge
Offs $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $5.08333333
(2) The amount of the distribution -----------
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $5.08333333
(3) The amount of the distribution -----------
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B Invested Amount pursuant to
clauses (c), (d), and (e) of the definition of Class B Invested
Amount (1) The amount of reductions in Class B Invested Amount
pursuant to clauses (c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 6
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
(3) The total amount reimbursed in -----
respect of such reductions in the
Class B Invested Amount $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $200,972.70
(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> 7
RECEIVABLES ---
<TABLE>
<S> <C>
Beginning of the Month Principal Receivables: $8,580,178,226.45
-----------------
Beginning of the Month Finance Charge Receivables: $81,173,556.87
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,661,351,783.32
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,242,754,205.67
-----------------
End of the Month Finance Charge Receivables: $81,737,805.04
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,324,492,010.71
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $201,087,023.73
---------------
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
<S> <C>
End of the Month Delinquencies:
30-60 Days Delinquent $98,207,698.57
--------------
61-90 Days Delinquent $61,150,198.10
--------------
90+ Days Delinquent $121,960,588.52
---------------
Total 30+ Days Delinquent $281,318,485.19
---------------
Defaulted Accounts During the Month $42,976,872.74
--------------
</TABLE>
C-4
<PAGE> 8
INVESTED AMOUNTS ---
<TABLE>
<S> <C> <C>
Class A Initial Invested Amount $675,000,000
------------
Class B Initial Invested Amount $35,625,000
-----------
Collateral Initial Invested Amount $39,375,000
-----------
INITIAL INVESTED AMOUNT $750,000,000
------------
Class A Invested Amount $675,000,000.00
---------------
Class B Invested Amount $35,625,000.00
--------------
Collateral Invested Amount $39,375,000.00
--------------
INVESTED AMOUNT $750,000,000
------------
Class A Adjusted Invested Amount $675,000,000.00
---------------
Class B Adjusted Invested Amount $35,625,000.00
--------------
Collateral Invested Amount $39,375,000.00
--------------
ADJUSTED INVESTED AMOUNT $750,000,000
------------
MONTHLY SERVICING FEE $1,250,000.00
-------------
INVESTOR DEFAULT AMOUNT $3,756,641.61
-------------
GROUP II INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.95%
----
IN GROUP II
GROUP II INVESTOR FINANCE CHARGE COLLECTIONS $10,295,250.56
--------------
GROUP II INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP II INVESTOR DEFAULT AMOUNT $3,756,641.61
-------------
GROUP II INVESTOR MONTHLY FEES $1,250,000.00
-------------
GROUP II INVESTOR MONTHLY INTEREST $3,728,941.45
-------------
SERIES 1995-2 INFORMATION
SERIES 1995-2 ALLOCATION PERCENTAGE 11.54%
-----
SERIES 1995-2 ALLOCABLE FINANCE CHARGE $12,913,281.81
--------------
COLLECTIONS
SERIES 1995-2 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-2 ALLOCABLE DEFAULTED AMOUNT $4,958,869.93
-------------
SERIES 1995-2 MONTHLY FEES $1,250,000.00
-------------
SERIES 1995-2 ALLOCABLE PRINCIPAL COLLECTIONS $193,217,322.91
---------------
SERIES 1995-2 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 75.76%
-----
</TABLE>
C-5
<PAGE> 9
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $9,782,586.05
-------------
INVESTOR DEFAULT AMOUNT $3,756,641.61
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $10,295,250.56
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 75.76%
-----
AVAILABLE PRINCIPAL COLLECTIONS $146,373,719.26
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 90.00%
Class A Floating Percentage of Reallocated $9,321,112.29
-------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $9,321,112.29
-------------
Class A Monthly Interest $3,346,875.00
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $3,380,977.45
-------------
TOTAL CLASS A EXCESS SPREAD $2,593,259.84
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 4.75%
----
CLASS B AVAILABLE FUNDS $489,024.40
-----------
Class B Monthly Interest $181,093.75
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $307,930.65
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 5.25%
----
COLLATERAL AVAILABLE FUNDS $540,500.65
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $540,500.65
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $3,441,691.15
-------------
</TABLE>
C-6
<PAGE> 10
<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 $178,440.48
-----------
Excess Spread Applied to Reductions of Class B $0.00
-----
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Monthly $200,972.70
-----------
Interest
Excess Spread Applied to Unpaid Monthly $1,250,000.00
-------------
Servicing Fee
Excess Spread Applied Collateral Default Amount $197,223.68
-----------
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 $1,615,054.29
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $13,546,407.42
--------------
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> 11
<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) 7.97%
----
Base Rate (Prior Month) 7.96%
----
Base Rate (Two Months Ago) 7.93%
----
THREE MONTH AVERAGE BASE RATE 7.95%
----
Series Adj Portfolio Yield JAN: (22 posting days / 4 Mondays 10.55%
-----
Series Adj Portfolio Yield DEC: (21 posting days / 5 Mondays 12.16%
-----
Series Adj Port Yield (Two NOV: (20 posting days / 4 Mondays 9.52%
---
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 10.74%
-----
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 90.00%
-----
Class A Principal Collections $131,736,347.33
---------------
CLASS B PRINCIPAL PERCENTAGE 4.75%
Class B Principal Collections $6,952,751.66
-------------
COLLATERAL PRINCIPAL PERCENTAGE 5.25%
Collateral Principal Collections $7,684,620.26
-------------
AVAILABLE PRINCIPAL COLLECTIONS $146,373,719.26
---------------
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> 12
<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 $150,130,360.87
---------------
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
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 31-Jan-97
Credit Card Asset Backed Securities Series 1995-3 Distribution Date 18-Feb-97
- ------------------------------------------------------------------------------------------------------------------------------
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 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% 75.7560021%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 75.7560021%
Finance Charge Collections 8,510,849.86 586,955.16 684,781.02 9,782,586.05
Total Yield
Trust Portfolio Yield
Principal Collections 127,345,135.76 8,782,423.16 10,246,160.35 146,373,719.26
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,268,278.20 225,398.50 262,964.91 3,756,641.61
Monthly Default Rate
Net Monthly Default Rate
Recoveries 446,018.13 30,759.87 35,886.52 512,664.51
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 1996-2
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.59905% 5.76237% 5.70612% 5.65887%
Investor Finance Charge Collections 13,727,000.75 10,295,250.56 13,727,000.75 13,727,000.75
Investor Principal Collections 195,164,959.01 146,373,719.26 195,164,959.01 195,164,959.01
Investor Default Amount Due 5,008,855.48 3,756,641.61 5,008,855.48 5,008,855.48
Investor Monthly Interest Due 4,974,707.02 3,839,580.27 5,069,440.36 5,028,329.24
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.75250% 5.86250% 5.75636%
Investor Monthly Interest Due 3,336,450.00 234,500.00 268,630.27 3,839,580.27
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 3,336,450.00 234,500.00 268,630.27 3,839,580.27
Investor Default Amount Due 3,268,278.20 225,398.50 262,964.91 3,756,641.61
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 7,692,228.20 534,898.50 619,095.18 8,846,221.88
- ------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 10,351,955.77
Interest/Principal/Spread Investment Proceeds 50,633.49
Series Adjusted Portfolio Yield 10.63%
Base Rate 8.14%
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,580,178,226.45
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,580,178,226.45
Series Allocation Percentage 11.54%
Beginning Invested /Transferor Amount 240,020,564.59 990,020,564.59
Floating Allocation Percentage 24.2439979% 100.0000000%
Principal Allocation Percentage 24.2439979% 100.0000000%
Finance Charge Collections 3,130,695.77 12,913,281.81 111,915,109.06
Total Yield 15.65%
Trust Portfolio Yield 10.46%
Principal Collections 46,843,603.65 193,217,322.91 1,674,550,131.89
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 19.52%
Defaults 1,202,228.32 4,958,869.93 42,976,872.74
Monthly Default Rate 6.01%
Net Monthly Default Rate 5.19%
Recoveries 164,066.70 676,731.21 5,865,003.86
Adjustments (32,837,472.34)
New Receivables 1,347,265,511.50
Ending Principal Receivables Balance 8,242,754,205.67
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,242,754,205.67
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 201,087,023.73 951,087,023.73 8,242,754,205.67
- ---------------------------------------------------------------------------------------------------------------------
Group I Information Series 1996-3 Group Total
- -------------------
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.68067% 5.67715%
Investor Finance Charge Collections 13,727,000.75 65,203,253.54
Investor Principal Collections 195,164,959.01 927,033,555.31
Investor Default Amount Due 5,008,855.48 23,792,063.53
Investor Monthly Interest Due 5,046,151.82 23,958,208.71
Investor Monthly Fees Due 1,666,666.67 7,916,666.67
Investor Additional Amounts Due 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- ---------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest/Principal/Spread Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 9,056,835.01 621,117.35 724,636.90 10,402,589.26
Monthly Interest Paid 3,336,450.00 234,500.00 0.00 3,570,950.00
Investor Default Amount Paid 3,268,278.20 0.00 0.00 3,268,278.20
Excess Spread 2,452,106.81 386,617.35 724,636.90 3,563,361.06
- ----------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 225,398.50 225,398.50
Required Amount 0.00 225,398.50 225,398.50
- ----------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 268,630.27 268,630.27
Investor Default Paid 0.00 225,398.50 262,964.91 488,363.41
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 1,556,367.38
- ----------------------------------------------------------------------------------------------------------------------------
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 0.00 268,630.27 268,630.27
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 268,630.27 268,630.27
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 5.1168
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 5.1168
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Accounts Deposit 3,336,450.00 234,500.00 3,570,950.00
2nd Collection Accounts Deposit 0.00 0.00 0.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 3,336,450.00 234,500.00 3,570,950.00
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 176,744 44,213 21,540 16,036 23,599 282,132
Balance of Accounts 405,963,577 98,207,699 61,150,198 48,671,664 73,288,924 687,282,062.23
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest -0.0220% (2,000.00) CIA Investor Interest Reduced Margin
Prior Month Account Owner Retained Interest Factor 0.3112%
Current Month Account Owner Retained Interest Factor 0.2892%
</TABLE>
<PAGE> 3
AT&T UNIVERSAL CARD MASTER TRUST
1997 - DAY COUNTS
<TABLE>
<CAPTION>
# of # of Days in
Month # of Mondays Posting Days* Coupon Period
----------------------------------------------------------------------------
<S> <C> <C> <C>
Jan. 4 22 32
Feb. 4 20 27
March 5 21 31
April 4 22 32
May 4 22 29
June 5 21 30
July 4 23 32
Aug. 4 21 30
Sept. 5 22 30
Oct. 4 23 31
Nov. 4 19 30
Dec. 5 22 34
</TABLE>
<PAGE> 4
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 2/18/97 and with respect
to the performance of the Trust during the month of 1/1/97-1/31/97
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> 5
<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> 6
<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 $268,630.27
(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> 7
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Month Principal Receivables: $8,580,178,226.45
-----------------
Beginning of the Month Finance Charge Receivables: $81,173,556.87
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,661,351,783.32
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,242,754,205.67
-----------------
End of the Month Finance Charge Receivables: $81,737,805.04
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,324,492,010.71
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $201,087,023.73
---------------
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent $98,207,698.57
--------------
61-90 Days Delinquent $61,150,198.10
--------------
90+ Days Delinquent $121,960,588.52
---------------
Total 30+ Days Delinquent $281,318,485.19
---------------
Defaulted Accounts During the Month $42,976,872.74
--------------
</TABLE>
C-4
<PAGE> 8
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $652,500,000
-----------
Class B Initial Invested Amount $45,000,000
-----------
Collateral Initial Invested Amount $52,500,000
-----------
INITIAL INVESTED AMOUNT $750,000,000
------------
Class A Invested Amount $652,500,000.00
---------------
Class B Invested Amount $45,000,000.00
--------------
Collateral Invested Amount $52,500,000.00
--------------
INVESTED AMOUNT $750,000,000
------------
Class A Adjusted Invested Amount $652,500,000.00
---------------
Class B Adjusted Invested Amount $45,000,000.00
--------------
Collateral Invested Amount $52,500,000.00
--------------
ADJUSTED INVESTED AMOUNT $750,000,000
------------
MONTHLY SERVICING FEE $1,250,000.00
-------------
INVESTOR DEFAULT AMOUNT $3,756,641.61
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.68%
IN GROUP 1 ----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $13,727,000.75
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
GROUP 1 INVESTOR MONTHLY FEES $1,666,666.67
-------------
GROUP 1 INVESTOR MONTHLY INTEREST $5,046,151.82
-------------
SERIES 1995-3 INFORMATION
SERIES 1995-3 ALLOCATION PERCENTAGE 11.54%
-----
SERIES 1995-3 ALLOCABLE FINANCE CHARGE $12,913,281.81
--------------
COLLECTIONS
SERIES 1995-3 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-3 ALLOCABLE DEFAULTED AMOUNT $4,958,869.93
-------------
SERIES 1995-3 MONTHLY FEES $1,250,000.00
-------------
SERIES 1995-3 ALLOCABLE PRINCIPAL COLLECTIONS $193,217,322.91
---------------
SERIES 1995-3 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 75.76%
-----
</TABLE>
C-5
<PAGE> 9
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $9,782,586.05
-------------
INVESTOR DEFAULT AMOUNT $3,756,641.61
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $10,351,955.77
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 75.76%
-----
AVAILABLE PRINCIPAL COLLECTIONS $146,373,719.26
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
Class A Floating Percentage of Reall $9,056,835.01
-------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $9,056,835.01
-------------
Class A Monthly Interest $3,336,450.00
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $3,268,278.20
-------------
TOTAL CLASS A EXCESS SPREAD $2,452,106.81
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
----
CLASS B AVAILABLE FUNDS $621,117.35
-----------
Class B Monthly Interest $234,500.00
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $386,617.35
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
----
COLLATERAL AVAILABLE FUNDS $724,636.90
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $724,636.90
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $3,563,361.06
-------------
</TABLE>
C-6
<PAGE> 10
<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 $225,398.50
-----------
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 $268,630.27
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,250,000.00
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $262,964.91
-----------
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 $1,556,367.38
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $13,546,407.42
--------------
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> 11
<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) 8.14%
-----
Base Rate (Prior Month) 7.94%
----
Base Rate (Two Months Ago) 7.54%
----
THREE MONTH AVERAGE BASE RATE 7.87%
----
Series Adj Portfolio Yield (Curr Month) JAN: (22 posting days / 4 Mondays) 10.63%
-----
Series Adj Portfolio Yield (Prior Month) DEC: (21 posting days / 5 Mondays) 12.23%
-----
Series Adj Port Yield (Two Months Ago) NOV: (20 posting days / 4 Mondays) 9.57%
----
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 10.81%
YIELD -----
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
-----
Class A Principal Collections $127,345,135.76
---------------
CLASS B PRINCIPAL PERCENTAGE 6.00%
Class B Principal Collections $8,782,423.16
-------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $10,246,160.35
--------------
AVAILABLE PRINCIPAL COLLECTIONS $146,373,719.26
---------------
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> 12
<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 $150,130,360.87
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
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 31-Jan-97
Credit Card Asset Backed Securities Series 1996-1 Distribution Date 18-Feb-97
- ---------------------------------------------------------------------------------------------------------------------------------
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% 75.7560021%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 75.7560021%
Finance Charge Collections 11,086,930.85 1,043,475.84 913,041.36 13,043,448.06
Total Yield
Trust Portfolio Yield
Principal Collections 165,890,215.16 15,613,196.72 13,661,547.13 195,164,959.01
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,257,527.16 400,708.44 350,619.88 5,008,855.48
Monthly Default Rate
Net Monthly Default Rate
Recoveries 581,019.78 54,684.21 47,848.69 683,552.68
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 1996-2
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.59905% 5.76237% 5.70612% 5.65887%
Investor Finance Charge Collections 13,727,000.75 10,295,250.56 13,727,000.75 13,727,000.75
Investor Principal Collections 195,164,959.01 146,373,719.26 195,164,959.01 195,164,959.01
Investor Default Amount Due 5,008,855.48 3,756,641.61 5,008,855.48 5,008,855.48
Investor Monthly Interest Due 4,974,707.02 3,839,580.27 5,069,440.36 5,028,329.24
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.68750% 5.82250% 5.75636%
Investor Monthly Interest Due 4,297,222.22 414,044.44 358,173.69 5,069,440.36
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 4,297,222.22 414,044.44 358,173.69 5,069,440.36
Investor Default Amount Due 4,257,527.16 400,708.44 350,619.88 5,008,855.48
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 9,971,416.05 948,086.22 825,460.24 11,744,962.50
- ---------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 13,752,607.69
Interest/Principal/Spread Investment Proceeds 67,511.31
Series Adjusted Portfolio Yield 10.57%
Base Rate 8.08%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,580,178,226.45
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,580,178,226.45
Series Allocation Percentage 15.38%
Beginning Invested /Transferor Amount 320,027,419.45 1,320,027,419.45
Floating Allocation Percentage 24.2439979% 100.0000000%
Principal Allocation Percentage 24.2439979% 100.0000000%
Finance Charge Collections 4,174,261.02 17,217,709.09 111,915,109.06
Total Yield 15.65%
Trust Portfolio Yield 10.46%
Principal Collections 62,458,138.20 257,623,097.21 1,674,550,131.89
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 19.52%
Defaults 1,602,971.09 6,611,826.57 42,976,872.74
Monthly Default Rate 6.01%
Net Monthly Default Rate 5.19%
Recoveries 218,755.60 902,308.29 5,865,003.86
Adjustments (32,837,472.34)
New Receivables 1,347,265,511.50
Ending Principal Receivables Balance 8,242,754,205.67
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,242,754,205.67
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 268,116,031.64 1,268,116,031.64 8,242,754,205.67
- ----------------------------------------------------------------------------------------------------------------------
Group I Information Series 1996-3 Group Total
- -------------------
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.68067% 5.67715%
Investor Finance Charge Collections 13,727,000.75 65,203,253.54
Investor Principal Collections 195,164,959.01 927,033,555.31
Investor Default Amount Due 5,008,855.48 23,792,063.53
Investor Monthly Interest Due 5,046,151.82 23,958,208.71
Investor Monthly Fees Due 1,666,666.67 7,916,666.67
Investor Additional Amounts Due 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- ----------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest/Principal/Spread Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 11,757,227.85 1,100,208.62 962,682.54 13,820,119.00
Monthly Interest Paid 4,297,222.22 414,044.44 0.00 4,711,266.67
Investor Default Amount Paid 4,257,527.16 0.00 0.00 4,257,527.16
Excess Spread 3,202,478.46 686,164.17 962,682.54 4,851,325.17
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 400,708.44 400,708.44
Required Amount 0.00 400,708.44 400,708.44
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 358,173.69 358,173.69
Investor Default Paid 0.00 400,708.44 350,619.88 751,328.32
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,075,156.50
- ------------------------------------------------------------------------------------------------------------------------------
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 0.00 358,173.69 358,173.69
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 358,173.69 358,173.69
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 5.1168
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 5.1168
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,297,222.22 414,044.44 4,711,266.67
2nd Collection Accounts Deposit 0.00 0.00 0.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 4,297,222.22 414,044.44 4,711,266.67
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 176,744 44,213 21,540 16,036 23,599 282,132
Balance of Accounts 405,963,577 98,207,699 61,150,198 48,671,664 73,288,924 687,282,062.23
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest -0.0220% (2,666)CIA Investor Interest Reduced Margin
Prior Month Account Owner Retained Interest Factor 0.3112%
Current Month Account Owner Retained Interest Factor 0.2892%
</TABLE>
<PAGE> 3
AT&T UNIVERSAL CARD MASTER TRUST
1997 - DAY COUNTS
<TABLE>
<CAPTION>
# of # of Days in
Month # of Mondays Posting Days* Coupon Period
----------------------------------------------------------------------------
<S> <C> <C> <C>
Jan. 4 22 32
Feb. 4 20 27
March 5 21 31
April 4 22 32
May 4 22 29
June 5 21 30
July 4 23 32
Aug. 4 21 30
Sept. 5 22 30
Oct. 4 23 31
Nov. 4 19 30
Dec. 5 22 34
</TABLE>
<PAGE> 4
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 2/18/97 , and with respect to the performance
of the Trust during the month of 1/1/97-1/31/97 is set forth below.
Certain of the information is presented on the basis of an original
principal amount of $1,000 per Series 1996-1 Certificate (a
"Certificate"). Certain other information is presented based on the
aggregate amounts for the Trust as a whole. Capitalized terms used
in this Monthly Statement have their respective meanings set forth
in the Pooling and Servicing Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $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> 5
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount after giving effect to all transactions on
such Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B Invested Amount pursuant to
clauses (c), (d), and (e) of the definition of Class B
Invested Amount
(1) The amount of reductions in Class B Invested Amount
pursuant to clauses (c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 6
<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 $358,173.69
-----------
(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> 7
RECEIVABLES ---
<TABLE>
<S> <C>
Beginning of the Month Principal Receivables: $8,580,178,226.45
-----------------
Beginning of the Month Finance Charge Receivables: $81,173,556.87
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,661,351,783.32
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,242,754,205.67
-----------------
End of the Month Finance Charge Receivables: $81,737,805.04
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,324,492,010.71
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $268,116,031.64
---------------
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
<S> <C>
End of the Month Delinquencies:
30-60 Days Delinquent $98,207,698.57
--------------
61-90 Days Delinquent $61,150,198.10
--------------
90+ Days Delinquent $121,960,588.52
---------------
Total 30+ Days Delinquent $281,318,485.19
---------------
Defaulted Accounts During the Month $42,976,872.74
--------------
</TABLE>
C-4
<PAGE> 8
INVESTED AMOUNTS ---
<TABLE>
<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
--------------
MONTHLY SERVICING FEE $1,666,666.67
-------------
INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.68%
IN GROUP 1 ----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $13,727,000.75
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
GROUP 1 INVESTOR MONTHLY FEES $1,666,666.67
-------------
GROUP 1 INVESTOR MONTHLY INTEREST $5,046,151.82
-------------
SERIES 1996-1 INFORMATION
SERIES 1996-1 ALLOCATION PERCENTAGE 15.38%
-----
SERIES 1996-1 ALLOCABLE FINANCE CHARGE $17,217,709.09
--------------
COLLECTIONS
SERIES 1996-1 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1996-1 ALLOCABLE DEFAULTED AMOUNT $6,611,826.57
-------------
SERIES 1996-1 MONTHLY FEES $1,250,000.00
-------------
SERIES 1996-1 ALLOCABLE PRINCIPAL COLLECTIONS $257,623,097.21
---------------
SERIES 1996-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 75.76%
-----
</TABLE>
C-5
<PAGE> 9
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,043,448.06
--------------
INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $13,752,607.69
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 75.76%
-----
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $11,757,227.85
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $11,757,227.85
--------------
Class A Monthly Interest $4,297,222.22
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,257,527.16
-------------
TOTAL CLASS A EXCESS SPREAD $3,202,478.46
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
----
CLASS B AVAILABLE FUNDS $1,100,208.62
-------------
Class B Monthly Interest $414,044.44
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $686,164.17
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
----
COLLATERAL AVAILABLE FUNDS $962,682.54
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $962,682.54
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $4,851,325.17
-------------
</TABLE>
C-6
<PAGE> 10
<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 $400,708.44
-----------
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 $358,173.69
-----------
Interest
Excess Spread Applied to Unpaid Monthly $1,666,666.67
-------------
Servicing Fee
Excess Spread Applied Collateral Default Amount $350,619.88
-----------
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 $2,075,156.50
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $15,621,563.92
--------------
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> 11
<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) 8.08%
----
Base Rate (Prior Month) 7.88%
----
Base Rate (Two Months Ago) 7.48%
----
THREE MONTH AVERAGE BASE RATE 7.81%
----
Series Adj Portfolio Yield (CuJAN: (22 posting days / 4 Mondays) 10.57%
-----
Series Adj Portfolio Yield (PrDEC: (21 posting days / 5 Mondays) 12.17%
-----
Series Adj Port Yield (Two MonNOV: (20 posting days / 4 Mondays) 9.52%
----
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 10.75%
-----
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
-----
Class A Principal Collections $165,890,215.16
---------------
CLASS B PRINCIPAL PERCENTAGE 8.00%
----
Class B Principal Collections $15,613,196.72
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
----
Collateral Principal Collections $13,661,547.13
--------------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
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> 12
ACCUMULATION ---
<TABLE>
<S> <C> <C>
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 $200,173,814.49
---------------
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 20.5
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 31-Jan-97
Credit Card Asset Backed Securities Series 1996-2 Distribution Date 18-Feb-97
- -------------------------------------------------------------------------------------------------------------------------------
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% 75.7560021%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 75.7560021%
Finance Charge Collections 11,086,930.85 1,043,475.84 913,041.36 13,043,448.06
Total Yield
Trust Portfolio Yield
Principal Collections 165,890,215.16 15,613,196.72 13,661,547.13 195,164,959.01
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,257,527.16 400,708.44 350,619.88 5,008,855.48
Monthly Default Rate
Net Monthly Default Rate
Recoveries 581,019.78 54,684.21 47,848.69 683,552.68
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 1996-2
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.59905% 5.76237% 5.70612% 5.65887%
Investor Finance Charge Collections 13,727,000.75 10,295,250.56 13,727,000.75 13,727,000.75
Investor Principal Collections 195,164,959.01 146,373,719.26 195,164,959.01 195,164,959.01
Investor Default Amount Due 5,008,855.48 3,756,641.61 5,008,855.48 5,008,855.48
Investor Monthly Interest Due 4,974,707.02 3,839,580.27 5,069,440.36 5,028,329.24
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.63250% 5.77250% 5.82065%
Investor Monthly Interest Due 4,255,666.67 410,488.89 362,173.69 5,028,329.24
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 4,255,666.67 410,488.89 362,173.69 5,028,329.24
Investor Default Amount Due 4,257,527.16 400,708.44 350,619.88 5,008,855.48
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 9,929,860.49 944,530.66 829,460.24 11,703,851.39
- ---------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 13,711,496.58
Interest/Principal/Spread Investment Proceeds 52,219.40
Series Adjusted Portfolio Yield 10.51%
Base Rate 8.03%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,580,178,226.45
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,580,178,226.45
Series Allocation Percentage 15.38%
Beginning Invested/Transferor Amount 320,027,419.45 1,320,027,419.45
Floating Allocation Percentage 24.2439979% 100.0000000%
Principal Allocation Percentage 24.2439979% 100.0000000%
Finance Charge Collections 4,174,261.02 17,217,709.09 111,915,109.06
Total Yield 15.65%
Trust Portfolio Yield 10.46%
Principal Collections 62,458,138.20 257,623,097.21 1,674,550,131.89
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 19.52%
Defaults 1,602,971.09 6,611,826.57 42,976,872.74
Monthly Default Rate 6.01%
Net Monthly Default Rate 5.19%
Recoveries 218,755.60 902,308.29 5,865,003.86
Adjustments (32,837,472.34)
New Receivables 1,347,265,511.50
Ending Principal Receivables Balance 8,242,754,205.67
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,242,754,205.67
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 268,116,031.64 1,268,116,031.64 8,242,754,205.67
- -------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1996-3 Group Total
- -------------------
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.68067% 5.67715%
Investor Finance Charge Collections 13,727,000.75 65,203,253.54
Investor Principal Collections 195,164,959.01 927,033,555.31
Investor Default Amount Due 5,008,855.48 23,792,063.53
Investor Monthly Interest Due 5,046,151.82 23,958,208.71
Investor Monthly Fees Due 1,666,666.67 7,916,666.67
Investor Additional Amounts Due 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- -------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest/Principal/Spread Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 11,706,991.49 1,096,919.73 959,804.76 13,763,715.98
Monthly Interest Paid 4,255,666.67 410,488.89 0.00 4,666,155.56
Investor Default Amount Paid 4,257,527.16 0.00 0.00 4,257,527.16
Excess Spread 3,193,797.67 686,430.84 959,804.76 4,840,033.26
- -----------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 400,708.44 400,708.44
Required Amount 0.00 400,708.44 400,708.44
- -----------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 362,173.69 362,173.69
Investor Default Paid 0.00 400,708.44 350,619.88 751,328.32
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,059,864.59
- -----------------------------------------------------------------------------------------------------------------------------
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 0.00 362,173.69 362,173.69
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 362,173.69 362,173.69
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 5.1739
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 5.1739
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,255,666.67 410,488.89 4,666,155.56
2nd Collection Accounts Deposit 0.00 0.00 0.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 4,255,666.67 410,488.89 4,666,155.56
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 176,744 44,213 21,540 16,036 23,599 282,132
Balance of Accounts 405,963,577 98,207,699 61,150,198 48,671,664 73,288,924 687,282,062.23
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest -0.0220% (1,777.78) CIA Investor Interest Reduced Margin
Prior Month Account Owner Retained Interest Factor 0.3112%
Current Month Account Owner Retained Interest Factor 0.2892%
</TABLE>
<PAGE> 3
AT&T UNIVERSAL CARD MASTER TRUST
1997 - DAY COUNTS
<TABLE>
<CAPTION>
# of # of Days in
Month # of Mondays Posting Days* Coupon Period
---------------------------------------------------------------------------------------
<S> <C> <C> <C>
Jan. 4 22 32
Feb. 4 20 27
March 5 21 31
April 4 22 32
May 4 22 29
June 5 21 30
July 4 23 32
Aug. 4 21 30
Sept. 5 22 30
Oct. 4 23 31
Nov. 4 19 30
Dec. 5 22 34
</TABLE>
<PAGE> 4
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1996-2
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-2 Supplement dated as of 6/30/96
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to
the Series 1996-2 Certificateholders and the performance of the AT&T Universal
Card Master Trust (the "Trust") during the previous month. The information
which is required to be prepared with respect to the Distribution Date of
2/18/97, and with respect to the performance of the Trust during the month of
1/1/97-1/31/97 is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-2
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Monthly Statement have their respective meanings set forth in the Pooling and
Servicing Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $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> 5
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
(2) The amount of Class A Investors -----
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
(3) The total amount reimbursed in -----
respect of Class A Investor Charge
Offs $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
(2) The amount of the distribution -----------
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
(3) The amount of the distribution -----------
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 6
<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 $362,173.69
(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> 7
<TABLE>
<CAPTION>
RECEIVABLES ---
<S> <C>
Beginning of the Month Principal Receivables: $8,580,178,226.45
-----------------
Beginning of the Month Finance Charge Receivables: $81,173,556.87
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,661,351,783.32
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,242,754,205.67
-----------------
End of the Month Finance Charge Receivables: $81,737,805.04
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,324,492,010.71
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $268,116,031.64
---------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCIES AND LOSSES --- RECEIVABLES
<S> <C>
End of the Month Delinquencies:
30-60 Days Delinquent $98,207,698.57
--------------
61-90 Days Delinquent $61,150,198.10
--------------
90+ Days Delinquent $121,960,588.52
---------------
Total 30+ Days Delinquent $281,318,485.19
---------------
Defaulted Accounts During the Month $42,976,872.74
--------------
</TABLE>
C-4
<PAGE> 8
<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 $5,008,855.48
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.68%
IN GROUP 1 -----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $13,727,000.75
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
GROUP 1 INVESTOR MONTHLY FEES $1,666,666.67
-------------
GROUP 1 INVESTOR MONTHLY INTEREST $5,046,151.82
-------------
SERIES 1996-2 INFORMATION
SERIES 1996-2 ALLOCATION PERCENTAGE 15.38%
------
SERIES 1996-2 ALLOCABLE FINANCE CHARGE $17,217,709.09
COLLECTIONS --------------
SERIES 1996-2 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1996-2 ALLOCABLE DEFAULTED AMOUNT $6,611,826.57
-------------
SERIES 1996-2 MONTHLY FEES $1,250,000.00
-------------
SERIES 1996-2 ALLOCABLE PRINCIPAL COLLECTIONS $257,623,097.21
---------------
SERIES 1996-2 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 75.76%
------
</TABLE>
C-5
<PAGE> 9
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,043,448.06
--------------
INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $13,711,496.58
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 75.76%
------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
------
Class A Floating Percentage of Reallocated $11,706,991.49
--------------
Investor Finance Charge Collections
Other Amounts $0.00
TOTAL CLASS A AVAILABLE FUNDS ----- $11,706,991.49
--------------
Class A Monthly Interest $4,255,666.67
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,257,527.16
TOTAL CLASS A EXCESS SPREAD -------------- $3,193,797.67
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
-----
CLASS B AVAILABLE FUNDS $1,096,919.73
-------------
Class B Monthly Interest $410,488.89
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $686,430.84
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $959,804.76
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $959,804.76
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $4,840,033.26
-------------
</TABLE>
C-6
<PAGE> 10
<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 $400,708.44
-----------
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 $362,173.69
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,666,666.67
Servicing Fee -------------
Excess Spread Applied Collateral Default Amount $350,619.88
-----------
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 $2,059,864.59
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $11,486,542.84
FOR ALL ALLOCATION SERIES --------------
SERIES 1996-2 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-2 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 11
<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) 8.03%
-----
Base Rate (Prior Month) 7.83%
-----
Base Rate (Two Months Ago) 7.44%
THREE MONTH AVERAGE BASE RATE ----- 7.77%
-----
Series Adj Portfolio Yield (Curr Month) JAN: (22 posting days / 4 Mondays) 10.51%
------
Series Adj Portfolio Yield (Prior Month) DEC: (21 posting days / 5 Mondays) 12.10%
------
Series Adj Port Yield (Two Months Ago) NOV: (20 posting days / 4 Mondays) 9.45%
-----
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 10.69%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
------
Class A Principal Collections $165,890,215.16
---------------
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $15,613,196.72
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $13,661,547.13
--------------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1996-2 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 12
<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 $200,173,814.49
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 20.6
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 31-Jan-97
Credit Card Asset Backed Securities Series 1996-3 Distribution Date 18-Feb-97
- ------------------------------------------------------------------------------------------------------------------------------
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% 75.7560021%
Principal Allocation Percentage 85.0000000% 8.0000000% 7.0000000% 75.7560021%
Finance Charge Collections 11,086,930.85 1,043,475.84 913,041.36 13,043,448.06
Total Yield
Trust Portfolio Yield
Principal Collections 165,890,215.16 15,613,196.72 13,661,547.13 195,164,959.01
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,257,527.16 400,708.44 350,619.88 5,008,855.48
Monthly Default Rate
Net Monthly Default Rate
Recoveries 581,019.78 54,684.21 47,848.69 683,552.68
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 1996-2
- -------------------
Invested Amount 1,000,000,000.00 750,000,000.00 1,000,000,000.00 1,000,000,000.00
Average Rate 5.59905% 5.76237% 5.70612% 5.65887%
Investor Finance Charge Collections 13,727,000.75 10,295,250.56 13,727,000.75 13,727,000.75
Investor Principal Collections 195,164,959.01 146,373,719.26 195,164,959.01 195,164,959.01
Investor Default Amount Due 5,008,855.48 3,756,641.61 5,008,855.48 5,008,855.48
Investor Monthly Interest Due 4,974,707.02 3,839,580.27 5,069,440.36 5,028,329.24
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 1,666,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
Investor Coupon 5.65078% 5.85078% 5.79565%
Investor Monthly Interest Due 4,269,478.22 416,055.47 360,618.13 5,046,151.82
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 4,269,478.22 416,055.47 360,618.13 5,046,151.82
Investor Default Amount Due 4,257,527.16 400,708.44 350,619.88 5,008,855.48
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 9,943,672.05 950,097.24 827,904.68 11,721,673.97
- -------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 13,729,319.16
Interest/Principal/Spread Investment Proceeds 67,511.32
Series Adjusted Portfolio Yield 10.55%
Base Rate 8.06%
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 8,580,178,226.45
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,580,178,226.45
Series Allocation Percentage 15.38%
Beginning Invested/Transferor Amount 320,027,419.45 1,320,027,419.45
Floating Allocation Percentage 24.2439979% 100.0000000%
Principal Allocation Percentage 24.2439979% 100.0000000%
Finance Charge Collections 4,174,261.02 17,217,709.09 111,915,109.06
Total Yield 15.65%
Trust Portfolio Yield 10.46%
Principal Collections 62,458,138.20 257,623,097.21 1,674,550,131.89
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 19.52%
Defaults 1,602,971.09 6,611,826.57 42,976,872.74
Monthly Default Rate 6.01%
Net Monthly Default Rate 5.19%
Recoveries 218,755.60 902,308.29 5,865,003.86
Adjustments (32,837,472.34)
New Receivables 1,347,265,511.50
Ending Principal Receivables Balance 8,242,754,205.67
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 8,242,754,205.67
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 268,116,031.64 1,268,116,031.64 8,242,754,205.67
- -------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1996-3 Group Total
- -------------------
Invested Amount 1,000,000,000.00 4,750,000,000.00
Average Rate 5.68067% 5.67715%
Investor Finance Charge Collections 13,727,000.75 65,203,253.54
Investor Principal Collections 195,164,959.01 927,033,555.31
Investor Default Amount Due 5,008,855.48 23,792,063.53
Investor Monthly Interest Due 5,046,151.82 23,958,208.71
Investor Monthly Fees Due 1,666,666.67 7,916,666.67
Investor Additional Amounts Due 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements
- ----------------------------
Investor Coupon
Investor Monthly Interest Due
Investor Outstanding Interest Due
Investor Additional Interest Due
Investor Total Interest Due
Investor Default Amount Due
Investor Monthly Fees Due
Investor Additional Fees Due
Total
- -------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections
Interest/Principal/Spread Investment Proceeds
Series Adjusted Portfolio Yield
Base Rate
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 11,737,432.60 1,098,345.53 961,052.34 13,796,830.48
Monthly Interest Paid 4,269,478.22 416,055.47 0.00 4,685,533.69
Investor Default Amount Paid 4,257,527.16 0.00 0.00 4,257,527.16
Excess Spread 3,210,427.22 682,290.07 961,052.34 4,853,769.63
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 400,708.44 400,708.44
Required Amount 0.00 400,708.44 400,708.44
- ----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 360,618.13 360,618.13
Investor Default Paid 0.00 400,708.44 350,619.88 751,328.32
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 2,075,156.51
- ----------------------------------------------------------------------------------------------------------------------------------
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 0.00 360,618.13 360,618.13
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 360,618.13 360,618.13
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 5.1517
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 5.1517
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,136,057.03 403,053.73 4,539,110.76
2nd Collection Accounts Deposit 4,269,478.22 416,055.47 4,685,533.69
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 8,405,535.25 819,109.20 9,224,644.45
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 176,744 44,213 21,540 16,036 23,599 282,132
Balance of Accounts 405,963,577 98,207,699 61,150,198 48,671,664 73,288,924 687,282,062.23
30+Days Delinquency Rate 3.2787%
Change in Account Owner Retained Interest -0.0220% (3,333.33) CIA Investor Interest Reduced Margin
Prior Month Account Owner Retained Interest Factor 0.3112%
Current Month Account Owner Retained Interest Factor 0.2892%
</TABLE>
<PAGE> 3
AT&T UNIVERSAL CARD MASTER TRUST
1997 - DAY COUNTS
<TABLE>
<CAPTION>
# of # of Days in
Month # of Mondays Posting Days* Coupon Period
- -----------------------------------------------------------------------------------------
<S> <C> <C> <C>
Jan. 4 22 32
Feb. 4 20 27
March 5 21 31
April 4 22 32
May 4 22 29
June 5 21 30
July 4 23 32
Aug. 4 21 30
Sept. 5 22 30
Oct. 4 23 31
Nov. 4 19 30
Dec. 5 22 34
</TABLE>
<PAGE> 4
MONTHLY STATEMENT
AT&T UNIVERSAL CARD MASTER TRUST
SERIES 1996-3
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1996-3 Supplement dated as of 9/17/96
(the "Supplement") among UCS, Funding and the Trustee, as Servicer is required
to prepare certain information each month regarding current distributions to
the Series 1996-3 Certificateholders and the performance of the AT&T Universal
Card Master Trust (the "Trust") during the previous month. The information
which is required to be prepared with respect to the Distribution Date of
2/18/97, and with respect to the performance of the Trust during the month of
1/1/97-1/31/97 is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-3
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Monthly Statement have their respective meanings set forth in the Pooling and
Servicing Agreement and the Supplement.
<TABLE>
<S> <C>
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> 5
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
(2) The amount of Class A Investors -----
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
(3) The total amount reimbursed in -----
respect of Class A Investor Charge
Offs $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
(2) The amount of the distribution -----------
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $0.00000000
(3) The amount of the distribution -----------
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
C-2
<PAGE> 6
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
(3) The total amount reimbursed in -----
respect of such reductions in the
Class B Invested Amount $0.00
(4) The amount set forth in paragraph -----
3 above, per $1,000 original
certificate principal amount $0.00
(5) The amount, if any, by which the -----
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $360,618.13
(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> 7
<TABLE>
<CAPTION>
RECEIVABLES ---
<S> <C>
Beginning of the Month Principal Receivables: $8,580,178,226.45
-----------------
Beginning of the Month Finance Charge Receivables: $81,173,556.87
--------------
Beginning of the Month Discounted Receivables: $0.00
-----
Beginning of the Month Premium Receivables: $0.00
-----
Beginning of the Month Total Receivables: $8,661,351,783.32
-----------------
Removed Principal Recievables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Month Principal Receivables: $8,242,754,205.67
-----------------
End of the Month Finance Charge Receivables: $81,737,805.04
--------------
End of the Month Discounted Receivables: $0.00
-----
End of the Month Premium Receivables: $0.00
-----
End of the Month Total Receivables: $8,324,492,010.71
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $6,500,000,000.00
-----------------
End of the Month Transferor Amount $268,116,031.64
---------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCIES AND LOSSES --- RECEIVABLES
<S> <C>
End of the Month Delinquencies:
30-60 Days Delinquent $98,207,698.57
--------------
61-90 Days Delinquent $61,150,198.10
--------------
90+ Days Delinquent $121,960,588.52
---------------
Total 30+ Days Delinquent $281,318,485.19
---------------
Defaulted Accounts During the Month $42,976,872.74
--------------
</TABLE>
C-4
<PAGE> 8
<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 $5,008,855.48
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.68%
IN GROUP 1 -----
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $13,727,000.75
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
GROUP 1 INVESTOR MONTHLY FEES $1,666,666.67
-------------
GROUP 1 INVESTOR MONTHLY INTEREST $5,046,151.82
-------------
SERIES 1996-3 INFORMATION
SERIES 1996-3 ALLOCATION PERCENTAGE 15.38%
------
SERIES 1996-3 ALLOCABLE FINANCE CHARGE $17,217,709.09
--------------
COLLECTIONS
SERIES 1996-3 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1996-3 ALLOCABLE DEFAULTED AMOUNT $6,611,826.57
-------------
SERIES 1996-3 MONTHLY FEES $1,250,000.00
-------------
SERIES 1996-3 ALLOCABLE PRINCIPAL COLLECTIONS $257,623,097.21
---------------
SERIES 1996-3 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 75.76%
------
</TABLE>
C-5
<PAGE> 9
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $13,043,448.06
--------------
INVESTOR DEFAULT AMOUNT $5,008,855.48
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $13,729,319.16
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 75.76%
------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 85.00%
Class A Floating Percentage of Reallocated $11,737,432.60
Investor Finance Charge Collections --------------
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $11,737,432.60
--------------
Class A Monthly Interest $4,269,478.22
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $4,257,527.16
-------------
TOTAL CLASS A EXCESS SPREAD $3,210,427.22
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 8.00%
-----
CLASS B AVAILABLE FUNDS $1,098,345.53
-------------
Class B Monthly Interest $416,055.47
-----------
Class B Servicing Fee (if applicable) $0.00
TOTAL CLASS B EXCESS SPREAD ----- $682,290.07
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $961,052.34
-----------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $961,052.34
-----------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $4,853,769.63
-------------
</TABLE>
C-6
<PAGE> 10
<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 $400,708.44
-----------
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 $360,618.13
Interest -----------
Excess Spread Applied to Unpaid Monthly $1,666,666.67
-------------
Servicing Fee
Excess Spread Applied Collateral Default Amount $350,619.88
-----------
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 $2,075,156.51
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $13,546,407.42
FOR ALL ALLOCATION SERIES --------------
SERIES 1996-3 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
ALLOCATED TO SERIES 1996-3 -----
Excess Finance Charge Collections Applied to $0.00
Class A Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Class A Investor Charge Offs -----
Excess Finance Charge Collections Applied to $0.00
Class B Required Amount -----
Excess Finance Charge Collections Applied to $0.00
Reductions of Class B Invested Amount Pursuant -----
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
Collateral Monthly Interest -----
Excess Finance Charge Collections Applied to $0.00
Unpaid Monthly Servicing Fee -----
Excess Finance Charge Collections Applied to $0.00
Collateral Default Amount -----
</TABLE>
C-7
<PAGE> 11
<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) 8.06%
-----
Base Rate (Prior Month) 7.88%
-----
Base Rate (Two Months Ago) 7.55%
-----
THREE MONTH AVERAGE BASE RATE 7.83%
-----
Series Adj Portfolio Yield (Curr Month) JAN: (22 posting days / 4 Mondays) 10.55%
------
Series Adj Portfolio Yield (Prior Month) DEC: (21 posting days / 5 Mondays) 12.21%
------
Series Adj Port Yield (Two Months Ago) NOV: (20 posting days / 4 Mondays) 9.61%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO ----- 10.79%
YIELD ------
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 85.00%
------
Class A Principal Collections $165,890,215.16
---------------
CLASS B PRINCIPAL PERCENTAGE 8.00%
Class B Principal Collections $15,613,196.72
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
Collateral Principal Collections $13,661,547.13
--------------
AVAILABLE PRINCIPAL COLLECTIONS $195,164,959.01
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1996-3 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
PRINCIPAL SHARING SERIES -----
</TABLE>
C-8
<PAGE> 12
<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
PRINCIPAL SHARING SERIES $200,173,814.49
---------------
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
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