SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 1996 Commission File No.
33-94848
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________ to
________________
CATERPILLAR FINANCIAL FUNDING CORPORATION
(Exact name of Registrant as specified in its charter)
Nevada 88-0342613
(State or other jurisdiction of (I.R.S.Employer
incorporation or organization) Identification Number)
Greenview Plaza
2950 East Flamingo Road, Suite C-3B
Las Vegas, Nevada 89121
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 735-2814
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the Registrant (1) has
filed all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K is not contained
herein, and will not be contained, to the best of Registrant's
knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ] Not Applicable.
Exhibit Index located at Page 6.
PART I.
Item 1. Business
Not Applicable.
Item 2. Properties
Caterpillar Financial Asset Trust 1996-A (the "Trust") is a
trust established under the laws of the State of Delaware by the
Trust Agreement dated as of May 1, 1996 (the "Trust Agreement")
between Caterpillar Financial Funding Corporation (the "Seller")
and Chase Manhattan Bank, Delaware, acting thereunder not in its
individual capacity but solely as trustee of the Trust.
Caterpillar Financial Services Corporation (the "Servicer") is
the Servicer under a Sale and Servicing Agreement dated as of May
1, 1996 (the "Sale and Servicing Agreement") among the Servicer,
the Seller and the Trust. On May 15, 1996 (the "Closing Date"),
the Trust issued its 6.55% Asset Backed Certificates (the
"Certificates") with an aggregate principal amount of
$14,876,157. In addition, on the Closing Date, the Trust issued
$85,000,000 aggregate principal amount of Class A-1 5.41% Money
Market Asset Backed Notes (the "A-1 Notes"), $139,000,000
aggregate principal amount of Class A-2 5.90% Asset Backed Notes
(the "A-2 Notes"), and $133,021,000 aggregate principal amount of
class A-3 6.30% Asset Backed Notes (the "A-3 Notes"; together
with the A-1 and A-2 Notes, the "Notes"). The Certificates
evidence fractional undivided interest in the Trust. The Notes
evidence debt obligations of the Trust. The Trust property
includes (i) fixed rate retail installment sale contracts (the
"Receivables") secured by new and used machinery manufactured
primarily by Caterpillar Inc. (the "Financed Equipment") sold to
the Trust by the Seller, (ii) all monies (including accrued
interest) due thereunder on or after May 1, 1996, (iii) such
amounts as from time to time may be held in one or more accounts
established and maintained by the Servicer pursuant to the Sale
and Servicing Agreement, (iv) the security interest in the
Financed Equipment and certain other cross-collateralized
equipment, (v) the rights to proceeds from claims on physical
damage, credit life and disability insurance policies, if any,
covering the Financed Equipment or the obligors on the
Receivables, as the case may be, (vi) the proceeds of any
repossessed Financed Equipment, (vii) the rights of the Seller
under the Purchase Agreement dated as of May 1, 1996 (the
"Purchase Agreement") between the Servicer and the Seller, (viii)
the interest of the Seller in any proceeds from recourse to
dealers of Financed Equipment with respect to receivables, (ix)
interest earned on short-term investments made by the Trust, and
(x) any proceeds of the foregoing.
As of May 1 ,1996, the Receivables had an aggregate
principal balance of approximately $371,987,157. As of December
31, 1996, the end of the fiscal year of the Trust for which this
Form 10-K annual report is being filed, the aggregate principal
balance of the Receivables remaining in the Trust was
approximately $284,831,747.
Reference is made to Exhibit 99.1, the Statement to
Certificateholders for the fiscal year ended December 31, 1996,
for additional information regarding principal and interest
payments in respect of the Certificates and the Notes and
information regarding servicing compensation and other fees paid
by the Trust during the year ending December 31, 1996.
Item 3. Legal Proceedings
The Registrant knows of no material pending legal
proceedings involving either the Trust property, Trustee, Seller
or Servicer in respect of the Trust.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted during the fiscal year covered by
this report to a vote of holders of either the Notes or
Certificates.
PART II.
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters
(a) To the best knowledge of the Registrant, there is no
established public market for the Certificates.
(b) As of December 31, 1996, there were less than 50
Certificateholders of record.
(c) Not Applicable.
Item 6. Selected Financial Data
Not Applicable
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations
Not Applicable.
Item 8. Financial Statements and Supplementary Data
Not Applicable.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure
None.
PART III.
Item 10. Directors and Executive Officers of the Registrant
Not Applicable.
Item 11. Executive Compensation
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and
Management
Not Applicable.
Item 13. Certain Relationships and Related Transactions
Not Applicable.
PART IV.
Item 14. Exhibits, Financial Statement Schedules, and Reports on
Form 8-K
(a) The following documents are filed as part of this
report:
Exhibit No.
99.1 Statement to Certificateholders*
99.2 Statement to Noteholders*
99.3 Servicer's Certificate*
99.4 Fiscal Year-End Statement (unaudited) for the period ended
December 31, 1996
*Relating to the monthly collection period ending December 31, 1996.
(b) Reports on Form 8-K
Current report on Form 8-K dated December 27, 1996 (Item 7).
(c) Not Applicable.
(d) Not Applicable.
Supplemental information to be furnished with reports filed
pursuant to Section 15(d) of the Act by Registrants which have
not registered Securities pursuant to Section 12 of the Act.
No annual report, proxy statement, form of proxy or other
proxy soliciting material has been sent to certificateholders,
and the Registrant does not presently contemplate sending any
such materials subsequent to the filing of this report.
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
CATERPILLAR FINANCIAL FUNDING CORPORATION
(Registrant)
Dated: March 17,1997 By: /s/Paul J, Gaeto
Paul J. Gaeto, Secretary
Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed below by the following
persons on behalf of the Registrant and in the capacities and on
the dates indicated.
Date Signature Title
March 17,1997 /s/Scott E. Harris President and Director
(Scott E. Harris) (Principal Executive
Officer)
March 17,1997 /s/Edward J. Scott Treasurer(Principal
(Edward J. Scott) Financial Officer)
March 17,1997 /s/C. David Brooks Vice President and
(C. David Brooks) Director (Principal
Accounting Officer)
March 17,1997 /s/Steven W. Simonson Director
(Steven W. Simonson)
EXHIBIT INDEX
SEQUENTIALLY
EXHIBIT NO.
NUMBERED PAGE
99.1 Statement to Certificateholders* 7
99.2 Statement to Noteholders* 9
99.3 Servicer's Certificate* 11
99.4 Fiscal Year-End Statement (unaudited) for 16
the period ended December 31, 1996
*Relating to the monthly collection period ending December 31,
1996.
CATERPILLAR FINANCIAL FUNDING CORPORATION
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Thousands of dollars)
December 31, 1996
Assets:
Cash and cash equivalents $ 1,174.9
Investment in Caterpillar Financial Asset 282.1
Trust
Other Receivables 26,689.3
Total assets $ 28,146.3
Liabilities and stockholder's equity:
Payable to Caterpillar Financial Services $11,257.3
Corp.
Income taxes payable 3,802.0
Other liabilities 229.9
Deferred income taxes (707.5)
Total liabilities $ 14,581.7
Common stock - $1 par value 5,255.3
Authorized: 2,000 shares
Issued and outstanding: one share
Retained Earnings 8,309.3
Total stockholder's equity 13,564.6
Total liabilities and stockholder's equity $ 28,146.3
CATERPILLAR FINANCIAL FUNDING CORPORATION
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEARS ENDED DECEMBER 31, 1996
(Thousands of dollars)
Revenues:
Miscellaneous Income $4,609.8
Total revenues 4,609.8
Expenses:
General, operating, and 358.9
administrative
Total expenses 358.9
Profit on sale of securities 3,094.3
Income before income taxes 7,345.2
Provision for income taxes 2,575.5
Net income 4,769.7
Retained earnings - beginning of year 3,539.6
Retained earnings - end of year $8,309.3
"Caterpillar Financial Asset Trust, 1996-A"
Statement for Certificateholders Pursuant to Section 5.06(a) Exhibit 99-1
Distribution Date: Year-End 1996
( i ) Amount of principal being paid on Notes:
"(a) Class A-1 Notes, CUSIP NO 149114AH3:" "85,000,000.00 "
" per $1,000 original principal amount:" "1,000.0000000 "
"(b) Class A-2 Notes, CUSIP NO 149114AJ9:" "2,065,410.11 "
" per $1,000 original principal amount:" 14.8590655
"(c) Class A-3 Notes, CUSIP NO 149114AK6:" 0.0000000
" per $1,000 original principal amount:" 0.0000000
"(d) Certificates, CUSIP NO 149114AL4:" 0.00
" per $1,000 original principal amount:" 0.00000000
(e) Total: "87,065,410.11 "
(ii) Amount of interest being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AH3:" "1,686,852.53 "
" per $1,000 original principal amount:" 19.8453239
"(b) Class A-2 Notes, CUSIP NO 149114AJ9:" "5,535,675.02 "
" per $1,000 original principal amount:" 39.8250001
"(c) Class A-3 Notes, CUSIP NO 149114AK6:" "5,656,718.03 "
" per $1,000 original principal amount:" 42.5250000
"(d) Certificates, CUSIP NO 149114AL4:" "657,712.07 "
" per $1,000 original principal amount:" 44.21249856
(e) Total: "13,536,957.65 "
(iii) Amount of prepayment premium being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AH3:"
" per $1,000 original principal amount:"
"(b) Class A-2 Notes, CUSIP NO 149114AJ9:"
" per $1,000 original principal amount:"
"(c) Class A-3 Notes, CUSIP NO 149114AK6:"
" per $1,000 original principal amount:"
"(d) Certificates, CUSIP NO 149114AL4:"
" per $1,000 original principal amount:"
(e) Total:
(iv) Pool Balance at end of related collection period: "284,831,746.89 "
(v) After giving effect to distributions on this Distribution Date:
(a) (i) outstanding principal amount of Class A-1 Notes: 0.00
(ii) Class A-1 Note Pool Factor: 0.00000000
(b) (i) outstanding principal amount of Class A-2 Notes: "136,934,589.89 "
(ii) Class A-2 Note Pool Factor: 0.98514093
(c) (i) outstanding principal amount of Class A-3 Notes: "133,021,000.00 "
(ii) Class A-3 Note Pool Factor: 1.00000000
(d) (i) Certificate Balance: "14,876,157.00 "
(ii) Certificate Pool Factor: 1.00000000
(vi) Amount of Servicing Fee paid: "2,215,060.97 "
(vii) Amount of Administration Fee paid: "4,000.00 "
(viii) Aggregate Purchase Amounts for Collection Period: "4,054,730.90 "
(ix) Aggregate Amount of Realized Losses "285,020.19 "
(x) Specified Reserve Account Balance at end of
related collection period: "13,529,507.98 "
"Caterpillar Financial Asset Trust, 1996-A"
Statement for Noteholders pursuant to Section 5.06(a) Exhibit 99-2
Distribution Date: Year-End 1996
( i ) Amount of principal being paid on Notes:
"(a) Class A-1 Notes, CUSIP NO 149114AH3:" "85,000,000.00 "
" per $1,000 original principal amount:" "1,000.00000000 "
"(b) Class A-2 Notes, CUSIP NO 149114AJ9:" "2,065,410.11 "
" per $1,000 original principal amount:" 14.85906554
"(c) Class A-3 Notes, CUSIP NO 149114AK6:" 0.00
" per $1,000 original principal amount:" 0.00000000
(d) Total: "87,065,410.11 "
(ii) Amount of interest being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AH3:" "1,686,852.53 "
" per $1,000 original principal amount:" 19.84532388
"(b) Class A-2 Notes, CUSIP NO 149114AJ9:" "5,535,675.02 "
" per $1,000 original principal amount:" 39.82500014
"(c) Class A-3 Notes, CUSIP NO 149114AK6:" "5,656,718.03 "
" per $1,000 original principal amount:" 42.52500004
(d) Total: "12,879,245.58 "
(iii) Amount of prepayment premium being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AH3:"
" per $1,000 original principal amount:"
"(b) Class A-2 Notes, CUSIP NO 149114AJ9:"
" per $1,000 original principal amount:"
"(c) Class A-3 Notes, CUSIP NO 149114AK6:"
" per $1,000 original principal amount:"
(d) Total:
(iv) Pool Balance at end of related collection period: "284,831,746.89 "
(v) After giving effect to distributions on this Distribution Date:
(a) (i) outstanding principal amount of Class A-1 Notes: 0.00
(ii) Class A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of Class A-2 Notes: "136,934,589.89 "
(ii) Class A-2 Note Pool Factor: 0.9851409
(c) (i) outstanding principal amount of Class A-3 Notes: "133,021,000.00 "
(ii) Class A-3 Note Pool Factor: 1.0000000
(d) (i) Certificate Balance: "14,876,157.00 "
(ii) Certificate Pool Factor: 1.0000000
(vi) Amount of Servicing Fee paid: "2,215,060.97 "
(vii) Amount of Administration Fee paid: "4,000.00 "
(viii) Aggregate Purchase Amounts for Collection Period: "4,054,730.90 "
(ix) Aggregate Amount of Realized Losses "285,020.19 "
(x) Specified Reserve Account Balance at end of
related collection period: "13,529,507.98 "
"Caterpillar Financial Asset Trust, 1996-A"
"$85,000,000 Class A-1 5.418% Asset Backed Notes"
"$139,000,000 Class A-2 5.90% Asset Backed Notes"
"$133,021,000 Class A-3 6.30% Asset Backed Notes"
"$14,876,157 6.55% Asset Backed Certificates"
Servicing Certificate/Statement to Noteholders and Certificateholders
Exhibit 99-3
Distribution Date
Collection Period Month Begin Year-End Statement
Collection Period Month End as of 12/31/96
Original Pool Balance "371,897,157.00 "
Beginning Pool Balance "371,897,157.00 "
Ending Pool Balance "284,831,746.89 "
Total Interest Collections "17,380,864.26 "
Total Principal Collections "82,317,169.27 "
Warranty Repurchases:
Contracts deferred beyond A-3 maturity date 0.00
Administrative Repurchases (See List) "4,054,730.90 "
Liquidation Proceeds "408,489.75 "
Reinvestment Income "560,450.84 "
TOTAL COLLECTIONS FOR THE COLLECTION PERIOD "104,721,705.02 "
Miscellaneous Data
Aggregate Scheduled Amounts 31 - 60 days past due "4,570,754.58 "
Aggregate Scheduled Amounts 61 days or more past due "3,264,603.34 "
Net Losses on Liquidated Receivables This Period "285,020.19 "
Number of Loans at Beginning of Period "4,253 "
Number of Loans at End of Period "3,966 "
Repossessed Equipment not Sold or Reassigned (Beginning) 0.00
Repossessed Equipment not Sold or Reassigned (End) "740,600.68 "
Calculation of Distributable Amounts
Original Class A-1 Principal Balance "85,000,000.00 "
Class A-1 Note Beginning Principal Balance "85,000,000.00 "
Class A-1 Noteholders' Principal Carryover Shortfall 0.00
A-1 Noteholders' share of the Principal Distribution Amount 100.00%
Class A-1 Noteholders' Principal Distributable Amount "85,000,000.00 "
Original Class A-2 Principal Balance "139,000,000.00 "
Class A-2 Note Beginning Principal Balance "139,000,000.00 "
A-2 Noteholders' Percentage 100.00%
Class A-2 Noteholders' Principal Carryover Shortfall 0.00
A-2 Noteholders' share of Principal Distribution Amount 100.00%
Class A-2 Noteholders' Principal Distributable Amount "2,065,410.11 "
Original Class A-3 Principal Balance "133,021,000.00 "
Class A-3 Note Beginning Principal Balance "133,021,000.00 "
A-3 Noteholders' Percentage 96.00%
Class A-3 Noteholders' Principal Carryover Shortfall 0.00
A-3 Noteholders' share of Principal Distribution Amount 96.00%
Class A-3 Noteholders' Principal Distributable Amount 0.00
Original Certificate Principal Balance "14,876,157.00 "
Certificate Beginning Principal Balance "14,876,157.00 "
Certificateholders' Principal Carryover Shortfall 0.00
Certificateholders' Principal Distributable Amount 0.00
Total Beginning Principal Balance of Notes and Certificates "371,897,157.00 "
Allocation of Total Distribution Amount (TDA)
Interest Distribution Amount (IDA) "17,656,294.91 "
Principal Distribution Amount (PDA) "87,065,410.11 "
Total Distribution Amount (TDA) "104,721,705.02 "
Servicing Fee Shortfall (Beginning of Period) 0.00
Servicing Fees Accrued during this Period 1.00% "2,215,060.97 "
Servicing Fees Paid this Period from TDA "2,215,060.97 "
Servicing Fee Shortfall (End of Period) 0.00
Administration Fee Shortfall (Beginning of Period) 0.00
Administration Fees Accrued during this Period "4,000.00 "
Administration Fees Paid this Period from TDA "4,000.00 "
Administration Fee Shortfall (End of Period Shortfall) 0.00
Total Distribution Amount Remaining "102,502,644.05 "
A-1 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-1 Noteholders' Interest Distributable Amount 5.418% "1,686,852.53 "
A-1 Noteholders' Interest Paid this Period from TDA "1,686,852.53 "
Prelim. A-1 Noteholders' Interest Carryover Shortfall (End) 0.00
A-2 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-2 Noteholders' Interest Distributable Amount 5.90% "5,535,675.02 "
A-2 Noteholders' Interest Paid this Period from TDA "5,535,675.02 "
Prelim. A-2 Noteholders' Interest Carryover Shortfall (End) 0.00
A-3 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-3 Noteholders' Interest Distributable Amount 6.30% "5,656,718.03 "
A-3 Noteholders' Interest Paid this Period from TDA "5,656,718.03 "
Prelim. A-3 Noteholders' Interest Carryover Shortfall (End) 0.00
Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
Noteholders' Interest Distributable Amount "12,879,245.58 "
Noteholders' Interest Paid this Period from TDA "12,879,245.58 "
Prelim. Noteholders' Interest Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "89,623,398.47 "
Class A-1 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-1 Noteholders' Principal Distributable Amount this Period "85,000,000.00 "
A-1 Noteholders' Principal Paid this Period from TDA "85,000,000.00 "
Prelim. Class A-1 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "4,623,398.47 "
Class A-2 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-2 Noteholders' Principal Distributable Amount this Period "2,065,410.11 "
A-2 Noteholders' Principal Paid this Period from TDA "2,065,410.11 "
Prelim. Class A-2 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "2,557,988.36 "
Class A-3 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-3 Noteholders' Principal Distributable Amount this Period 0.00
A-3 Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class A-3 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "2,557,988.36 "
Certificateholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
Certificateholders' Earned Interest 6.55% "657,712.07 "
Certificateholders' Interest Paid this Period from TDA "657,712.07 "
Prelim. Certificateholders' Interest Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "1,900,276.29 "
Certificateholders' Principal Carryover Shortfall (Beginning) 0.00
Certificateholders' Principal Distributable Amount 0.00
Certificateholders' Principal Paid this Period from TDA 0.00
Prelim. Certificateholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "1,900,276.29 "
Distributions to/from Reserve Account
Reserve Account Balance at beginning of period "17,665,115.00 "
Deposit to Reserve Account from Excess Collections "1,900,276.29 "
Distribute from Reserve Account to Noteholders' Distr. Account 0.00
Adjustment to A-1 Interest Carryover Shortfall 0.00
Adjustment to A-2 Interest Carryover Shortfall 0.00
Adjustment to A-3 Interest Carryover Shortfall 0.00
Adjustment to A-1 Principal Carryover Shortfall 0.00
Adjustment to A-2 Principal Carryover Shortfall 0.00
Adjustment to A-3 Principal Carryover Shortfall 0.00
Reserve Account Balance Remaining "19,565,391.29 "
Distribute from Reserve Account to Certificateholders' Distr. Account 0.00
Adjustment to Certificateholders' Interest Carryover Shortfall 0.00
Adjustment to Certificateholders' Principal Carryover Shortfall 0.00
Reserve Account Balance Remaining "19,565,391.29 "
Cumulative Realized Losses since 1-May-96 (Cut-off Date) 0.00
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
(12 x Realized Losses) + Repos at end of Collection Period "4,160,842.96 "
((12 x Realized Losses) + Unliq. Repos)>2.00% of Beg. Pool Balance? NO
Aggregate Scheduled Amounts 60 days or more past due "3,264,603.34 "
Are >60 day Delinquencies > 3.75% of Ending Pool Balance? NO
"Is any one of the three conditions ""YES""?" NO
Class A-1 Note Principal Balance (End of Period) 0.00
Class A-2 Note Principal Balance (End of Period) "136,934,589.89 "
Class A-3 Note Principal Balance (End of Period) "133,021,000.00 "
Certificate Principal Balance (End of Period) "14,876,157.00 "
Total Principal Balance of Notes and Certificates "284,831,746.89 "
Specified Reserve Account Balance "13,529,507.98 "
Greater of:
4.75% of Ending Pool Balance "13,529,507.98 "
"Floor (Min. Outstanding Note and Certificate Balance, $8,367,686)"
"8,367,686.00 "
Reserve Account Balance Remaining "19,565,391.29 "
Excess Reserve Account Balance "6,035,883.31 "
Release from Reserve Account to Seller "6,035,883.31 "
Release from Reserve Account to A-2 Noteholders as Principal 0.00
Release from Reserve Account to A-3 Noteholders as Principal 0.00
Ending Reserve Account Balance (after distributions) "13,529,507.98 "
Net Change in Reserve Account Balance "(4,135,607.02)"
Ending Balances/Factors
Class A-1 Interest Carryover Shortfall (Ending Balance) 0.00
Class A-2 Interest Carryover Shortfall (Ending Balance) 0.00
Class A-3 Interest Carryover Shortfall (Ending Balance) 0.00
Noteholders' Interest Carryover Shortfall (Ending Balance) 0.00
Class A-1 Principal Carryover Shortfall (Ending Balance) 0.00
Class A-2 Principal Carryover Shortfall (Ending Balance) 0.00
Class A-3 Principal Carryover Shortfall (Ending Balance) 0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) 0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) 0.00
Class A-1 Note Principal Balance (End of Period) 0.00
Class A-2 Note Principal Balance (End of Period) "136,934,589.89 "
Class A-3 Note Principal Balance (End of Period) "133,021,000.00 "
Certificate Principal Balance (End of Period) "14,876,157.00 "
Total Principal Balance of Notes and Certificates "284,831,746.89 "
Class A-1 Note Pool Factor (End of Period) 0.0000000
Class A-2 Note Pool Factor (End of Period) 0.9851409
Class A-3 Note Pool Factor (End of Period) 1.0000000
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.7658885
Specified Reserve Account Balance (after distributions) "13,529,507.98 "
"Caterpillar Financial Asset Trust, 1996-A" Administrative Repurchases
Distribution Date Year-End 1996
Receivable Reference Principal Repurchased
001-0027916-000 "137,920.23 "
001-0028855-000 "21,925.26 "
001-0029790-000 "113,059.24 "
001-0029802-000 "151,107.08 "
001-0029810-000 "52,620.04 "
001-0029820-000 "37,758.03 "
001-0029823-000 "37,132.47 "
001-0029828-000 "37,758.03 "
001-0029916-000 "94,448.78 "
001-0032576-000 "47,659.03"
001-0035075-000 "16,804.73"
001-0030958-000 "43,069.42"
001-0034569-000 "52,548.36"
001-1854401-000 "14,371.76"
001-0032804-000 "65,184.35"
001-0036732-000 "257,537.80"
001-0031813-000 "862,581.84"
001-0028200-000 "58,680.08"
001-0031785-000 "15,174.22"
001-0032932-000 "48,738.78"
001-0035265-000 "38,828.28"
001-0035629-000 "30,050.42"
001-0037345-000 "12,519.54"
001-0038705-000 "70,224.98"
001-0033452-000 "210,383.10"
001-0031042-000 "69,682.34"
001-0034940-000 "36,888.03"
001-0030396-000 "86,757.16"
001-0037693-000 "173,216.69"
001-0033010-000 "64,225.75"
001-0038581-000 "21,736.15"
001-0030841-000 "66,588.87"
001-0029267-000 "59,825.18"
001-0035845-000 "33,240.80"
001-0036681-000 "24,534.30"
001-0033622-000 "58,642.51"
001-0032026-000 "4,534.03"
001-0033268-000 "56,810.51"
001-0035521-000 "58,317.55"
001-0031422-000 "38,157.22"
001-0030602-000 "20,543.20"
001-0031962-000 "35,690.49"
001-0038003-000 "22,884.78"
001-0027727-000 "55,288.71"
001-0030256-000 "27,873.47"
001-0035301-000 "35,703.88"
001-0034640-000 "135,468.46"
001-0027681-000 "31,450.34"
001-0029126-000 "27,639.91"
001-5078401-000 "58,043.26"
001-0037337-000 "64,031.88"
001-0034737-000 "28,424.44"
001-0037073-000 "85,121.72"
001-0037110-000 "45,323.42"
Total Administrative Repurchases "4,054,730.90"
