EXHIBIT 20.1
MONTHLY SERVICER'S CERTIFICATE
AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.
--------------------------------------------
AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
--------------------------------------------
The undersigned, a duly authorized representative of American Express Travel
Related Services Company, Inc., as Servicer ("TRS"), pursuant to the Pooling and
Servicing Agreement, dated as of May 16, 1996 (as amended and supplemented, the
"Agreement"), as supplemented by the Series Supplements (as amended and
supplemented, the "Series Supplements"), among TRS, as Servicer, American
Express Centurion Bank and American Express Receivables Financing Corporation
II, as Transferors, and The Bank of New York, as Trustee, does hereby certify as
follows:
1. Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement or the Series Supplements, as applicable.
2. TRS is, as of the date hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring on August 10,
2000 and covers activity from June 25, 2000 through July 25, 2000.
5. As of the date hereof, to the best knowledge of the undersigned, the Servicer
has performed in all material respects all its obligations under the Agreement
through the Monthly Period preceding such Distribution Date.
6. As of the date hereof, to the best knowledge of the undersigned, no Pay Out
Event occurred on or prior to such Distribution date.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
Certificate this 10th day of August, 2000.
AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
By: /s/ Lawrence Fazzari
--------------------------------
Name: Lawrence Fazzari
Title: Vice President
Business Results
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<PAGE>
<TABLE>
<CAPTION>
I. Monthly Period Trust Activity
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A. Trust Activity Trust Totals
----------------- ------------
<S> <C> <C> <C> <C> <C>
Number of days in period 31
Beginning Principal Receivable Balance 11,287,152,831.80
Special Funding Account Balance 0.00
Beginning Total Principal Balance 11,287,152,831.80
Finance Charge Collections (excluding 166,642,189.00
Discount Option & Recoveries)
Discount Percentage 2.00%
Discount Option Receivables Collections 21,319,459.86
Premium Option Receivables Collections 0.00
Recoveries 9,569,563.00
Total Collections of Finance Charge 197,531,211.86
Receivables
Total Collections of Principal Receivables 1,044,653,533.14
Monthly Payment Rate 8.9567%
Defaulted amount 54,478,464.40
Annualized Default Rate 5.6799%
Trust Portfolio Yield 14.9225%
New Principal Receivables 1,105,140,689.38
Ending Principal Receivables Balance 11,293,161,523.64
Ending Required Minimum Principal Balance 10,926,970,540.00
Ending Transferor Amount 1,081,039,523.64
Ending Special Funding Account Balance 0.00
Ending Total Principal Balance 11,293,161,523.64
B. Series Allocations Series 1996-1 Series 1997-1 Series 1998-1 Series 1999-1 Series 1999-2
--------------------- ------------- ------------- ------------- ------------- -------------
Group Number 1 1 2 1 1
Invested Amount 1,000,000,000.00 1,000,000,000.00 1,000,000,000.00 1,000,000,000.00 500,000,000.00
Adjusted Invested Amount 1,000,000,000.00 1,000,000,000.00 1,000,000,000.00 1,000,000,000.00 500,000,000.00
Principal Funding Account Balance 0.00 0.00 0.00 0.00 0.00
Series Required Transferor Amount 70,000,000.00 70,000,000.00 70,000,000.00 70,000,000.00 35,000,000.00
Series Allocation Percentage 9.79% 9.79% 9.79% 9.79% 4.90%
Series Alloc. Finance Charge Collections 19,342,817.47 19,342,817.47 19,342,817.47 19,342,817.47 9,671,408.74
Series Allocable Recoveries 937,078.80 937,078.80 937,078.80 937,078.80 468,539.40
Series Alloc. Principal Collections 102,295,441.94 102,295,441.94 102,295,441.94 102,295,441.94 51,147,720.97
Series Allocable Defaulted Amount 5,334,686.01 5,334,686.01 5,334,686.01 5,334,686.01 2,667,343.01
B. Series Allocations Series 1999-3 Series 1999-4 Series 1999-5 Series 1999-6 Series 2000-1
--------------------- ------------- ------------- ------------- ------------- -------------
Group Number 2 2 2 2 1
Invested Amount 1,000,000,000.00 500,000,000.00 500,000,000.00 500,000,000.00 500,000,000.00
Adjusted Invested Amount 1,000,000,000.00 500,000,000.00 500,000,000.00 500,000,000.00 500,000,000.00
Principal Funding Account Balance 0.00 0.00 0.00 0.00 0.00
Series Required Transferor Amount 70,000,000.00 35,000,000.00 35,000,000.00 35,000,000.00 35,000,000.00
Series Allocation Percentage 9.79% 4.90% 4.90% 4.90% 4.90%
Series Alloc. Finance Charge Collections 19,342,817.47 9,671,408.74 9,671,408.74 9,671,408.74 9,671,408.74
Series Allocable Recoveries 937,078.80 468,539.40 468,539.40 468,539.40 468,539.40
Series Alloc. Principal Collections 102,295,441.94 51,147,720.97 51,147,720.97 51,147,720.97 51,147,720.97
Series Allocable Defaulted Amount 5,334,686.01 2,667,343.01 2,667,343.01 2,667,343.01 2,667,343.01
B. Series Allocations Series 2000-2 Series 2000-3 Series 2000-4 Trust Total
--------------------- ------------- ------------- ------------- -----------
Group Number 2 2 2
Invested Amount 500,000,000.00 1,000,000,000.00 1,212,122,000.00 10,212,122,000.00
Adjusted Invested Amount 500,000,000.00 1,000,000,000.00 1,212,122,000.00 10,212,122,000.00
Principal Funding Account Balance 0.00 0.00 0.00 0.00
Series Required Transferor Amount 35,000,000.00 70,000,000.00 84,848,540.00 714,848,540.00
Series Allocation Percentage 4.90% 9.79% 11.87% 100%
Series Alloc. Finance Charge Collections 9,671,408.74 19,342,817.47 23,445,854.60 197,531,211.86
Series Allocable Recoveries 468,539.40 937,078.80 1,135,853.83 9,569,563.00
Series Alloc. Principal Collections 51,147,720.97 102,295,441.94 123,994,555.68 1,044,653,533.14
Series Allocable Defaulted Amount 2,667,343.01 5,334,686.01 6,466,290.28 54,478,464.40
</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
C. Group Allocations
--------------------
1. Group 1 Allocations Series 1996-1 Series 1997-1 Series 1999-1 Series 1999-2 Series 2000-1
---------------------- ------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Investor Finance Charge Collections 17,500,534.88 17,500,534.88 17,500,534.88 8,750,267.44 8,750,267.44
Investor Monthly Interest 5,673,669.27 5,363,825.52 4,780,856.77 2,522,824.22 3,007,355.47
Investor Default Amount 4,826,590.48 4,826,590.48 4,826,590.48 2,413,295.24 2,413,295.24
Investor Monthly Fees 1,666,666.67 1,666,666.67 1,666,666.67 833,333.33 833,333.33
Investor Additional Amounts 0.00 0.00 0.00 0.00 0.00
Total 12,166,926.42 11,857,082.67 11,274,113.92 5,769,452.79 6,253,984.04
Reallocated Investor Finance Charge Collec 17,500,534.88 17,500,534.88 17,500,534.88 8,750,267.44 8,750,267.44
Available Excess 5,333,608.47 5,643,452.22 6,226,420.97 2,980,814.65 2,496,283.40
1. Group 1 Allocations Group 1 Total
---------------------- -------------
Investor Finance Charge Collections 70,002,139.53
Investor Monthly Interest 21,348,531.25
Investor Default Amount 19,306,361.92
Investor Monthly Fees 6,666,666.67
Investor Additional Amounts 0.00
Total 47,321,559.84
Reallocated Investor Finance Charge Collections 70,002,139.53
Available Excess 22,680,579.70
2. Group 2 Allocations Series 1998-1 Series 1999-3 Series 1999-4 Series 1999-5 Series 1999-6
---------------------- ------------- ------------- ------------- ------------- -------------
Investor Finance Charge Collections 17,500,534.88 17,500,534.88 8,750,267.44 8,750,267.44 8,750,267.44
Investor Monthly Interest 5,459,652.78 5,517,813.89 2,769,540.28 2,798,560.42 2,783,657.64
Investor Default Amount 4,826,590.48 4,826,590.48 2,413,295.24 2,413,295.24 2,413,295.24
Investor Monthly Fees 1,666,666.67 1,666,666.67 833,333.33 833,333.33 833,333.33
Investor Additional Amounts 0.00 0.00 0.00 0.00 0.00
Total 11,952,909.92 12,011,071.04 6,016,168.85 6,045,188.99 6,030,286.21
Reallocated Investor Finance Charge Collec 17,500,534.88 17,500,534.88 8,750,267.44 8,750,267.44 8,750,267.44
Available Excess 5,547,624.96 5,489,463.85 2,734,098.59 2,705,078.45 2,719,981.23
2. Group 2 Allocations Series 2000-2 Series 2000-3 Series 2000-4 Group 2 Total
---------------------- ------------- ------------- ------------- -------------
Investor Finance Charge Collections 8,750,267.44 17,500,534.88 21,212,783.34 108,715,457.76
Investor Monthly Interest 2,769,449.65 5,527,923.61 6,796,257.18 34,422,855.45
Investor Default Amount 2,413,295.24 4,826,590.48 5,850,416.51 29,983,368.90
Investor Monthly Fees 833,333.33 1,666,666.67 2,020,203.33 10,353,536.67
Investor Additional Amounts 0.00 0.00 0.00 0.00
Total 6,016,078.23 12,021,180.76 14,666,877.02 74,759,761.02
Reallocated Investor Finance Charge Collec 8,750,267.44 17,500,534.88 21,212,783.34 108,715,457.76
Investment Funding Accoutn Proceeds 0.00 0.00 29,245.68 29,245.68
Available Excess 2,734,189.22 5,479,354.13 6,575,152.00 33,984,942.42
D. Trust Performance
--------------------
Delinquencies:
31-60 Days Delinquent: 152,325,338
61-90 Days Delinquent: 79,142,003
90+ Days Delinquent: 101,397,304
Total 30+ Days Delinquent: 332,864,645
</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
II. Series 1996-1 Certificates
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Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- -------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,105,270,073.33 1,000,000,000.00 105,270,073.33
Beginning Adjusted Invested Amount N/A 1,000,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 19,342,817.47 17,500,534.88 1,842,282.59
Collections of Principal Receivables 102,295,441.94 92,552,439.81 9,743,002.13
Defaulted Amount 5,334,686.01 4,826,590.48 508,095.53
Ending Invested / Transferor Amounts 1,105,858,461.51 1,000,000,000.00 105,858,461.51
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.8000% 6.9500% 7.0263%
Monthly Interest Due 4,901,666.67 347,500.00 424,502.60 5,673,669.27
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 4,901,666.67 347,500.00 424,502.60 5,673,669.27
Investor Default Amount 4,175,000.76 289,595.43 361,994.29 4,826,590.48
Investor Monthly Fees Due 1,441,666.67 100,000.00 125,000.00 1,666,666.67
Investor Additional Amounts Due
Total Due 10,518,334.10 737,095.43 911,496.89 12,166,926.42
Reallocated Investor Finance Charge Collections 17,500,534.88
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.2387%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ----------- -----
Beginning Certificates Balance 865,000,000.00 60,000,000.00 75,000,000.00 1,000,000,000.00
Interest Distributions 4,901,666.67 347,500.00 424,502.60 5,673,669.27
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 4,901,666.67 347,500.00 424,502.60 5,673,669.27
Ending Certificates Balance 865,000,000.00 60,000,000.00 75,000,000.00 1,000,000,000.00
</TABLE>
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<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.67
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.67
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.79
2. Amount of the distribution in
respect of class B monthly interest: $5.79
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
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<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $424,502.60
2. Amount distributed in respect of Collateral
Monthly Interest: $424,502.60
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
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<PAGE>
1. Class A Available Funds: $15,137,962.67
a. Class A Monthly Interest: $4,901,666.67
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $4,175,000.76
e. Excess Spread: $6,061,295.24
2. Class B Available Funds: $1,050,032.09
a. Class B Monthly Interest: $347,500.00
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $702,532.09
3. Collateral Available Funds: $1,312,540.12
a. Excess Spread: $1,312,540.12
4. Total Excess Spread: $8,076,367.45
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1996-1 Allocable Principal
Collections: $102,295,441.94
3. Principal Allocation Percentage of
Series 1996-1 Allocable Principal
Collections: $92,552,439.81
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $92,552,439.81
6. Shared Principal Collections from other
Series allocated to Series 1996-1: N/A
7. Other amounts Treated as Available Principal
Collections: $4,826,590.48
8. Available Principal Collections
(total of 5., 6. & 7.): $97,379,030.29
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $75,000,000.00
2. Required Collateral Invested Amount $75,000,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $97,379,030.29
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M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1996-1
1. Excess Spread: $8,076,367.45
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $289,595.43
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $424,502.60
9. Applied to unpaid Monthly Servicing Fee: $1,666,666.67
10. Collateral Default Amount treated as
Available Principal Collections: $361,994.29
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $5,333,608.47
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.2387%
b. Prior Monthly Period 8.4246%
c. Second Prior Monthly Period 8.6692%
2. Three Month Average Base Rate 8.7775%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
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<TABLE>
<CAPTION>
III. Series 1997-1 Certificates
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Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,105,270,073.33 1,000,000,000.00 105,270,073.33
Beginning Adjusted Invested Amount N/A 1,000,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 19,342,817.47 17,500,534.88 1,842,282.59
Collections of Principal Receivables 102,295,441.94 92,552,439.81 9,743,002.13
Defaulted Amount 5,334,686.01 4,826,590.48 508,095.53
Ending Invested / Transferor Amounts 1,105,858,461.51 1,000,000,000.00 105,858,461.51
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.4000% 6.5500% 7.0013%
Monthly Interest Due 4,613,333.33 327,500.00 422,992.19 5,363,825.52
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 4,613,333.33 327,500.00 422,992.19 5,363,825.52
Investor Default Amount 4,175,000.76 289,595.43 361,994.29 4,826,590.48
Investor Monthly Fees Due 1,441,666.67 100,000.00 125,000.00 1,666,666.67
Investor Additional Amounts Dues
Total Due 10,230,000.76 717,095.43 909,986.47 11,857,082.67
Reallocated Investor Finance Charge Collections 17,500,534.88
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 8.8487%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 865,000,000.00 60,000,000.00 75,000,000.00 1,000,000,000.00
Interest Distributions 4,613,333.33 327,500.00 422,992.19 5,363,825.52
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 4,613,333.33 327,500.00 422,992.19 5,363,825.52
Ending Certificates Balance 865,000,000.00 60,000,000.00 75,000,000.00 1,000,000,000.00
</TABLE>
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D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.33
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.33
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.46
2. Amount of the distribution in
respect of class B monthly interest: $5.46
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
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(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $422,992.19
2. Amount distributed in respect of Collateral
Monthly Interest: $422,992.19
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 11 -
<PAGE>
1. Class A Available Funds: $15,137,962.67
a. Class A Monthly Interest: $4,613,333.33
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $4,175,000.76
e. Excess Spread: $6,349,628.58
2. Class B Available Funds: $1,050,032.09
a. Class B Monthly Interest: $327,500.00
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $722,532.09
3. Collateral Available Funds: $1,312,540.12
a. Excess Spread: $1,312,540.12
4. Total Excess Spread: $8,384,700.78
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1997-1 Allocable Principal
Collections: $102,295,441.94
3. Principal Allocation Percentage of
Series 1997-1 Allocable Principal
Collections: $92,552,439.81
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $92,552,439.81
6. Shared Principal Collections from other
Series allocated to Series 1997-1: N/A
7. Other amounts Treated as Available Principal
Collections: $4,826,590.48
8. Available Principal Collections
(total of 5., 6. & 7.): $97,379,030.29
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $75,000,000.00
2. Required Collateral Invested Amount $75,000,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $97,379,030.29
- 12 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1997-1
1. Excess Spread: $8,384,700.78
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $289,595.43
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $422,992.19
9. Applied to unpaid Monthly Servicing Fee: $1,666,666.67
10. Collateral Default Amount treated as
Available Principal Collections: $361,994.29
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $5,643,452.22
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 8.8487%
b. Prior Monthly Period 8.0710%
c. Second Prior Monthly Period 8.3043%
2. Three Month Average Base Rate 8.4080%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 13 -
<PAGE>
<TABLE>
<CAPTION>
IV. Series 1998-1 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,105,270,073.33 1,000,000,000.00 105,270,073.33
Beginning Adjusted Invested Amount N/A 1,000,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 19,342,817.47 17,500,534.88 1,842,282.59
Collections of Principal Receivables 102,295,441.94 92,552,439.81 9,743,002.13
Defaulted Amount 5,334,686.01 4,826,590.48 508,095.53
Ending Invested / Transferor Amounts 1,105,858,461.51 1,000,000,000.00 105,858,461.51
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.7163% 6.8763% 7.2263%
Monthly Interest Due 4,463,507.81 443,136.11 553,008.85 5,459,652.78
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 4,463,507.81 443,136.11 553,008.85 5,459,652.78
Investor Default Amount 3,981,937.15 386,127.24 458,526.10 4,826,590.48
Investor Monthly Fees Due 1,375,000.00 133,333.33 158,333.33 1,666,666.67
Investor Additional Amounts Dues
Total Due 9,820,444.96 962,596.68 1,169,868.28 11,952,909.92
Reallocated Investor Finance Charge Collections 17,500,534.88
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 8.9693%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 825,000,000.00 80,000,000.00 95,000,000.00 1,000,000,000.00
Interest Distributions 4,463,507.81 443,136.11 553,008.85 5,459,652.78
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 4,463,507.81 443,136.11 553,008.85 5,459,652.78
Ending Certificates Balance 825,000,000.00 80,000,000.00 95,000,000.00 1,000,000,000.00
</TABLE>
- 14 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.41
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.41
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.54
2. Amount of the distribution in
respect of class B monthly interest: $5.54
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 15 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $553,008.85
2. Amount distributed in respect of Collateral
Monthly Interest: $553,008.85
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 16 -
<PAGE>
1. Class A Available Funds: $14,437,941.28
a. Class A Monthly Interest: $4,463,507.81
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $3,981,937.15
e. Excess Spread: $5,992,496.32
2. Class B Available Funds: $1,400,042.79
a. Class B Monthly Interest: $443,136.11
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $956,906.68
3. Collateral Available Funds: $1,662,550.81
a. Excess Spread: $1,662,550.81
4. Total Excess Spread: $8,611,953.81
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1998-1 Allocable Principal
Collections: $102,295,441.94
3. Principal Allocation Percentage of
Series 1998-1 Allocable Principal
Collections: $92,552,439.81
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $92,552,439.81
6. Shared Principal Collections from other
Series allocated to Series 1998-1: N/A
7. Other amounts Treated as Available Principal
Collections: $4,826,590.48
8. Available Principal Collections
(total of 5., 6. & 7.): $97,379,030.29
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $95,000,000.00
2. Required Collateral Invested Amount $95,000,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $97,379,030.29
- 17 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1998-1
1. Excess Spread: $8,611,953.81
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $386,127.24
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $553,008.85
9. Applied to unpaid Monthly Servicing Fee: $1,666,666.67
10. Collateral Default Amount treated as
Available Principal Collections: $458,526.10
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $5,547,624.96
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 8.9693%
b. Prior Monthly Period 8.7980%
c. Second Prior Monthly Period 8.7288%
2. Three Month Average Base Rate 8.8321%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 18 -
<PAGE>
<TABLE>
<CAPTION>
V. Series 1999-1 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,105,270,073.33 1,000,000,000.00 105,270,073.33
Beginning Adjusted Invested Amount N/A 1,000,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 19,342,817.47 17,500,534.88 1,842,282.59
Collections of Principal Receivables 102,295,441.94 92,552,439.81 9,743,002.13
Defaulted Amount 5,334,686.01 4,826,590.48 508,095.53
Ending Invested / Transferor Amounts 1,105,858,461.51 1,000,000,000.00 105,858,461.51
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 5.6000% 5.8500% 7.4763%
Monthly Interest Due 4,036,666.67 292,500.00 451,690.10 4,780,856.77
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 4,036,666.67 292,500.00 451,690.10 4,780,856.77
Investor Default Amount 4,175,000.76 289,595.43 361,994.29 4,826,590.48
Investor Monthly Fees Due 1,441,666.67 100,000.00 125,000.00 1,666,666.67
Investor Additional Amounts Dues
Total Due 9,653,334.10 682,095.43 938,684.39 11,274,113.92
Reallocated Investor Finance Charge Collections 17,500,534.88
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 8.1150%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 865,000,000.00 60,000,000.00 75,000,000.00 1,000,000,000.00
Interest Distributions 4,036,666.67 292,500.00 451,690.10 4,780,856.77
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 4,036,666.67 292,500.00 451,690.10 4,780,856.77
Ending Certificates Balance 865,000,000.00 60,000,000.00 75,000,000.00 1,000,000,000.00
</TABLE>
- 19 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $4.67
2. Amount of the distribution in
respect of Class A Monthly Interest: $4.67
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $4.88
2. Amount of the distribution in
respect of class B monthly interest: $4.88
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 20 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $451,690.10
2. Amount distributed in respect of Collateral
Monthly Interest: $451,690.10
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 21 -
<PAGE>
1. Class A Available Funds: $15,137,962.67
a. Class A Monthly Interest: $4,036,666.67
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $4,175,000.76
e. Excess Spread: $6,926,295.24
2. Class B Available Funds: $1,050,032.09
a. Class B Monthly Interest: $292,500.00
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $757,532.09
3. Collateral Available Funds: $1,312,540.12
a. Excess Spread: $1,312,540.12
4. Total Excess Spread: $8,996,367.45
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1999-1 Allocable Principal
Collections: $102,295,441.94
3. Principal Allocation Percentage of
Series 1999-1 Allocable Principal
Collections: $92,552,439.81
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $92,552,439.81
6. Shared Principal Collections from other
Series allocated to Series 1999-1: N/A
7. Other amounts Treated as Available Principal
Collections: $4,826,590.48
8. Available Principal Collections
(total of 5., 6. & 7.): $97,379,030.29
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $75,000,000.00
2. Required Collateral Invested Amount $75,000,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $97,379,030.29
- 22 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1999-1
1. Excess Spread: $8,996,367.45
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $289,595.43
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $451,690.10
9. Applied to unpaid Monthly Servicing Fee: $1,666,666.67
10. Collateral Default Amount treated as
Available Principal Collections: $361,994.29
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $6,226,420.97
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 8.1150%
b. Prior Monthly Period 7.4094%
c. Second Prior Monthly Period 7.6202%
2. Three Month Average Base Rate 7.7149%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 23 -
<PAGE>
<TABLE>
<CAPTION>
VI. Series 1999-2 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- ------------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 552,635,036.67 500,000,000.00 52,635,036.67
Beginning Adjusted Invested Amount N/A 500,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 9,671,408.74 8,750,267.44 921,141.30
Collections of Principal Receivables 51,147,720.97 46,276,219.91 4,871,501.06
Defaulted Amount 2,667,343.01 2,413,295.24 254,047.77
Ending Invested / Transferor Amounts 552,929,230.75 500,000,000.00 52,929,230.75
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 5.9500% 6.1000% 7.4763%
Monthly Interest Due 2,144,479.17 152,500.00 225,845.05 2,522,824.22
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 2,144,479.17 152,500.00 225,845.05 2,522,824.22
Investor Default Amount 2,087,500.38 144,797.71 180,997.14 2,413,295.24
Investor Monthly Fees Due 720,833.33 50,000.00 62,500.00 833,333.33
Investor Additional Amounts Dues
Total Due 4,952,812.88 347,297.71 469,342.20 5,769,452.79
Reallocated Investor Finance Charge Collections 8,750,267.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 8.4483%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 432,500,000.00 30,000,000.00 37,500,000.00 500,000,000.00
Interest Distributions 2,144,479.17 152,500.00 225,845.05 2,522,824.22
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 2,144,479.17 152,500.00 225,845.05 2,522,824.22
Ending Certificates Balance 432,500,000.00 30,000,000.00 37,500,000.00 500,000,000.00
</TABLE>
- 24 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $4.96
2. Amount of the distribution in
respect of Class A Monthly Interest: $4.96
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.08
2. Amount of the distribution in
respect of class B monthly interest: $5.08
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 25 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $225,845.05
2. Amount distributed in respect of Collateral
Monthly Interest: $225,845.05
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 26 -
<PAGE>
1. Class A Available Funds: $7,568,981.34
a. Class A Monthly Interest: $2,144,479.17
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $2,087,500.38
e. Excess Spread: $3,337,001.79
2. Class B Available Funds: $525,016.05
a. Class B Monthly Interest: $152,500.00
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $372,516.05
3. Collateral Available Funds: $656,270.06
a. Excess Spread: $656,270.06
4. Total Excess Spread: $4,365,787.89
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1999-2 Allocable Principal
Collections: $51,147,720.97
3. Principal Allocation Percentage of
Series 1999-2 Allocable Principal
Collections: $46,276,219.91
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $46,276,219.91
6. Shared Principal Collections from other
Series allocated to Series 1999-2: N/A
7. Other amounts Treated as Available Principal
Collections: $2,413,295.24
8. Available Principal Collections
(total of 5., 6. & 7.): $48,689,515.15
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $37,500,000.00
2. Required Collateral Invested Amount $37,500,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $48,689,515.15
- 27 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1999-2
1. Excess Spread: $4,365,787.89
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $144,797.71
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $225,845.05
9. Applied to unpaid Monthly Servicing Fee: $833,333.33
10. Collateral Default Amount treated as
Available Principal Collections: $180,997.14
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $2,980,814.65
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 8.4483%
b. Prior Monthly Period 7.7114%
c. Second Prior Monthly Period 7.9320%
2. Three Month Average Base Rate 8.0306%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 28 -
<PAGE>
<TABLE>
<CAPTION>
VII. Series 1999-3 Certificates
----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,105,270,073.33 1,000,000,000.00 105,270,073.33
Beginning Adjusted Invested Amount N/A 1,000,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 19,342,817.47 17,500,534.88 1,842,282.59
Collections of Principal Receivables 102,295,441.94 92,552,439.81 9,743,002.13
Defaulted Amount 5,334,686.01 4,826,590.48 508,095.53
Ending Invested / Transferor Amounts 1,105,858,461.51 1,000,000,000.00 105,858,461.51
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.7663% 6.9663% 7.4763%
Monthly Interest Due 4,496,736.98 448,936.11 572,140.80 5,517,813.89
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 4,496,736.98 448,936.11 572,140.80 5,517,813.89
Investor Default Amount 3,981,937.15 386,127.24 458,526.10 4,826,590.48
Investor Monthly Fees Due 1,375,000.00 133,333.33 158,333.33 1,666,666.67
Investor Additional Amounts Dues
Total Due 9,853,674.12 968,396.68 1,189,000.23 12,011,071.04
Reallocated Investor Finance Charge Collections 17,500,534.88
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.0425%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 825,000,000.00 80,000,000.00 95,000,000.00 1,000,000,000.00
Interest Distributions 4,496,736.98 448,936.11 572,140.80 5,517,813.89
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 4,496,736.98 448,936.11 572,140.80 5,517,813.89
Ending Certificates Balance 825,000,000.00 80,000,000.00 95,000,000.00 1,000,000,000.00
</TABLE>
- 29 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.45
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.45
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.61
2. Amount of the distribution in
respect of class B monthly interest: $5.61
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 30 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $572,140.80
2. Amount distributed in respect of Collateral
Monthly Interest: $572,140.80
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 31 -
<PAGE>
1. Class A Available Funds: $14,437,941.28
a. Class A Monthly Interest: $4,496,736.98
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $3,981,937.15
e. Excess Spread: $5,959,267.15
2. Class B Available Funds: $1,400,042.79
a. Class B Monthly Interest: $448,936.11
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $951,106.68
3. Collateral Available Funds: $1,662,550.81
a. Excess Spread: $1,662,550.81
4. Total Excess Spread: $8,572,924.65
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1999-3 Allocable Principal
Collections: $102,295,441.94
3. Principal Allocation Percentage of
Series 1999-3 Allocable Principal
Collections: $92,552,439.81
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $92,552,439.81
6. Shared Principal Collections from other
Series allocated to Series 1999-3: N/A
7. Other amounts Treated as Available Principal
Collections: $4,826,590.48
8. Available Principal Collections
(total of 5., 6. & 7.): $97,379,030.29
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $95,000,000.00
2. Required Collateral Invested Amount $95,000,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $97,379,030.29
- 32 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1999-3
1. Excess Spread: $8,572,924.65
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $386,127.24
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $572,140.80
9. Applied to unpaid Monthly Servicing Fee: $1,666,666.67
10. Collateral Default Amount treated as
Available Principal Collections: $458,526.10
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $5,489,463.85
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.0425%
b. Prior Monthly Period 8.8712%
c. Second Prior Monthly Period 8.8020%
2. Three Month Average Base Rate 8.9053%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 33 -
<PAGE>
<TABLE>
<CAPTION>
VIII. Series 1999-4 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 552,635,036.67 500,000,000.00 52,635,036.67
Beginning Adjusted Invested Amount N/A 500,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 9,671,408.74 8,750,267.44 921,141.30
Collections of Principal Receivables 51,147,720.97 46,276,219.91 4,871,501.06
Defaulted Amount 2,667,343.01 2,413,295.24 254,047.77
Ending Invested / Transferor Amounts 552,929,230.75 500,000,000.00 52,929,230.75
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.7963% 7.0463% 7.4263%
Monthly Interest Due 2,258,337.24 227,045.83 284,157.20 2,769,540.28
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 2,258,337.24 227,045.83 284,157.20 2,769,540.28
Investor Default Amount 1,990,968.57 193,063.62 229,263.05 2,413,295.24
Investor Monthly Fees Due 687,500.00 66,666.67 79,166.67 833,333.33
Investor Additional Amounts Dues
Total Due 4,936,805.81 486,776.12 592,586.92 6,016,168.85
Reallocated Investor Finance Charge Collections 8,750,267.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.0693%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
Interest Distributions 2,258,337.24 227,045.83 284,157.20 2,769,540.28
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 2,258,337.24 227,045.83 284,157.20 2,769,540.28
Ending Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
</TABLE>
- 34 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.47
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.47
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.68
2. Amount of the distribution in
respect of class B monthly interest: $5.68
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 35 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $284,157.20
2. Amount distributed in respect of Collateral
Monthly Interest: $284,157.20
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 36 -
<PAGE>
1. Class A Available Funds: $7,218,970.64
a. Class A Monthly Interest: $2,258,337.24
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $1,990,968.57
e. Excess Spread: $2,969,664.83
2. Class B Available Funds: $700,021.40
a. Class B Monthly Interest: $227,045.83
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $472,975.56
3. Collateral Available Funds: $831,275.41
a. Excess Spread: $831,275.41
4. Total Excess Spread: $4,273,915.80
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1999-4 Allocable Principal
Collections: $51,147,720.97
3. Principal Allocation Percentage of
Series 1999-4 Allocable Principal
Collections: $46,276,219.91
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $46,276,219.91
6. Shared Principal Collections from other
Series allocated to Series 1999-4: N/A
7. Other amounts Treated as Available Principal
Collections: $2,413,295.24
8. Available Principal Collections
(total of 5., 6. & 7.): $48,689,515.15
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $47,500,000.00
2. Required Collateral Invested Amount $47,500,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $48,689,515.15
- 37 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1999-4
1. Excess Spread: $4,273,915.80
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $193,063.62
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $284,157.20
9. Applied to unpaid Monthly Servicing Fee: $833,333.33
10. Collateral Default Amount treated as
Available Principal Collections: $229,263.05
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $2,734,098.59
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.0693%
b. Prior Monthly Period 8.8980%
c. Second Prior Monthly Period 8.8288%
2. Three Month Average Base Rate 8.9320%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 38 -
<PAGE>
<TABLE>
<CAPTION>
IX. Series 1999-5 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 552,635,036.67 500,000,000.00 52,635,036.67
Beginning Adjusted Invested Amount N/A 500,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 9,671,408.74 8,750,267.44 921,141.30
Collections of Principal Receivables 51,147,720.97 46,276,219.91 4,871,501.06
Defaulted Amount 2,667,343.01 2,413,295.24 254,047.77
Ending Invested / Transferor Amounts 552,929,230.75 500,000,000.00 52,929,230.75
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.8663% 7.1063% 7.5263%
Monthly Interest Due 2,281,597.66 228,979.17 287,983.59 2,798,560.42
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 2,281,597.66 228,979.17 287,983.59 2,798,560.42
Investor Default Amount 1,990,968.57 193,063.62 229,263.05 2,413,295.24
Investor Monthly Fees Due 687,500.00 66,666.67 79,166.67 833,333.33
Investor Additional Amounts Dues
Total Due 4,960,066.23 488,709.45 596,413.31 6,045,188.99
Reallocated Investor Finance Charge Collections 8,750,267.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.1424%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
Interest Distributions 2,281,597.66 228,979.17 287,983.59 2,798,560.42
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 2,281,597.66 228,979.17 287,983.59 2,798,560.42
Ending Certificates Balance 412,500,000.00 4 0,000,000.00 47,500,000.00 500,000,000.00
</TABLE>
- 39 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.53
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.53
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.72
2. Amount of the distribution in
respect of class B monthly interest: $5.72
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 40 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $287,983.59
2. Amount distributed in respect of Collateral
Monthly Interest: $287,983.59
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 41 -
<PAGE>
1. Class A Available Funds: $7,218,970.64
a. Class A Monthly Interest: $2,281,597.66
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $1,990,968.57
e. Excess Spread: $2,946,404.41
2. Class B Available Funds: $700,021.40
a. Class B Monthly Interest: $228,979.17
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $471,042.23
3. Collateral Available Funds: $831,275.41
a. Excess Spread: $831,275.41
4. Total Excess Spread: $4,248,722.05
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1999-5 Allocable Principal
Collections: $51,147,720.97
3. Principal Allocation Percentage of
Series 1999-5 Allocable Principal
Collections: $46,276,219.91
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $46,276,219.91
6. Shared Principal Collections from other
Series allocated to Series 1999-5: N/A
7. Other amounts Treated as Available Principal
Collections: $2,413,295.24
8. Available Principal Collections
(total of 5., 6. & 7.): $48,689,515.15
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $47,500,000.00
2. Required Collateral Invested Amount $47,500,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $48,689,515.15
- 42 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1999-5
1. Excess Spread: $4,248,722.05
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $193,063.62
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $287,983.59
9. Applied to unpaid Monthly Servicing Fee: $833,333.33
10. Collateral Default Amount treated as
Available Principal Collections: $229,263.05
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $2,705,078.45
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.1424%
b. Prior Monthly Period 8.9710%
c. Second Prior Monthly Period 8.9018%
2. Three Month Average Base Rate 9.0051%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 43 -
<PAGE>
<TABLE>
<CAPTION>
X. Series 1999-6 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- -------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 552,635,036.67 500,000,000.00 52,635,036.67
Beginning Adjusted Invested Amount N/A 500,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 9,671,408.74 8,750,267.44 921,141.30
Collections of Principal Receivables 51,147,720.97 46,276,219.91 4,871,501.06
Defaulted Amount 2,667,343.01 2,413,295.24 254,047.77
Ending Invested / Transferor Amounts 552,929,230.75 500,000,000.00 52,929,230.75
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.8263% 7.0563% 7.5263%
Monthly Interest Due 2,268,305.99 227,368.06 287,983.59 2,783,657.64
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 2,268,305.99 227,368.06 287,983.59 2,783,657.64
Investor Default Amount 1,990,968.57 193,063.62 229,263.05 2,413,295.24
Investor Monthly Fees Due 687,500.00 66,666.67 79,166.67 833,333.33
Investor Additional Amounts Dues
Total Due 4,946,774.56 487,098.34 596,413.31 6,030,286.21
Reallocated Investor Finance Charge Collections 8,750,267.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.1048%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
Interest Distributions 2,268,305.99 227,368.06 287,983.59 2,783,657.64
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 2,268,305.99 227,368.06 287,983.59 2,783,657.64
Ending Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
</TABLE>
- 44 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.50
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.50
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.68
2. Amount of the distribution in
respect of class B monthly interest: $5.68
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 45 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $287,983.59
2. Amount distributed in respect of Collateral
Monthly Interest: $287,983.59
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 46 -
<PAGE>
1. Class A Available Funds: $7,218,970.64
a. Class A Monthly Interest: $2,268,305.99
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $1,990,968.57
e. Excess Spread: $2,959,696.08
2. Class B Available Funds: $700,021.40
a. Class B Monthly Interest: $227,368.06
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $472,653.34
3. Collateral Available Funds: $831,275.41
a. Excess Spread: $831,275.41
4. Total Excess Spread: $4,263,624.82
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 1999-6 Allocable Principal
Collections: $51,147,720.97
3. Principal Allocation Percentage of
Series 1999-6 Allocable Principal
Collections: $46,276,219.91
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $46,276,219.91
6. Shared Principal Collections from other
Series allocated to Series 1999-6: N/A
7. Other amounts Treated as Available Principal
Collections: $2,413,295.24
8. Available Principal Collections
(total of 5., 6. & 7.): $48,689,515.15
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $47,500,000.00
2. Required Collateral Invested Amount $47,500,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $48,689,515.15
- 47 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 1999-6
1. Excess Spread: $4,263,624.82
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $193,063.62
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $287,983.59
9. Applied to unpaid Monthly Servicing Fee: $833,333.33
10. Collateral Default Amount treated as
Available Principal Collections: $229,263.05
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $2,719,981.23
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.1048%
b. Prior Monthly Period 8.9335%
c. Second Prior Monthly Period 8.8643%
2. Three Month Average Base Rate 8.9676%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 48 -
<PAGE>
<TABLE>
<CAPTION>
XI. Series 2000-1 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 552,635,036.67 500,000,000.00 52,635,036.67
Beginning Adjusted Invested Amount N/A 500,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 9,671,408.74 8,750,267.44 921,141.30
Collections of Principal Receivables 51,147,720.97 46,276,219.91 4,871,501.06
Defaulted Amount 2,667,343.01 2,413,295.24 254,047.77
Ending Invested / Transferor Amounts 552,929,230.75 500,000,000.00 52,929,230.75
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 7.2000% 7.4000% 7.5263%
Monthly Interest Due 2,595,000.00 185,000.00 227,355.47 3,007,355.47
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 2,595,000.00 185,000.00 227,355.47 3,007,355.47
Investor Default Amount 2,087,500.38 144,797.71 180,997.14 2,413,295.24
Investor Monthly Fees Due 720,833.33 50,000.00 62,500.00 833,333.33
Investor Additional Amounts Dues
Total Due 5,403,333.72 379,797.71 470,852.61 6,253,984.04
Reallocated Investor Finance Charge Collections 8,750,267.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.6679%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 432,500,000.00 30,000,000.00 37,500,000.00 500,000,000.00
Interest Distributions 2,595,000.00 185,000.00 227,355.47 3,007,355.47
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 2,595,000.00 185,000.00 227,355.47 3,007,355.47
Ending Certificates Balance 432,500,000.00 30,000,000.00 37,500,000.00 500,000,000.00
</TABLE>
- 49 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $6.00
2. Amount of the distribution in
respect of Class A Monthly Interest: $6.00
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $6.17
2. Amount of the distribution in
respect of class B monthly interest: $6.17
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 50 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $227,355.47
2. Amount distributed in respect of Collateral
Monthly Interest: $227,355.47
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 51 -
<PAGE>
1. Class A Available Funds: $7,568,981.34
a. Class A Monthly Interest: $2,595,000.00
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $2,087,500.38
e. Excess Spread: $2,886,480.95
2. Class B Available Funds: $525,016.05
a. Class B Monthly Interest: $185,000.00
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $340,016.05
3. Collateral Available Funds: $656,270.06
a. Excess Spread: $656,270.06
4. Total Excess Spread: $3,882,767.06
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 2000-1 Allocable Principal
Collections: $51,147,720.97
3. Principal Allocation Percentage of
Series 2000-1 Allocable Principal
Collections: $46,276,219.91
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $46,276,219.91
6. Shared Principal Collections from other
Series allocated to Series 2000-1: N/A
7. Other amounts Treated as Available Principal
Collections: $2,413,295.24
8. Available Principal Collections
(total of 5., 6. & 7.): $48,689,515.15
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $37,500,000.00
2. Required Collateral Invested Amount $37,500,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $48,689,515.15
- 52 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 2000-1
1. Excess Spread: $3,882,767.06
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $144,797.71
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $227,355.47
9. Applied to unpaid Monthly Servicing Fee: $833,333.33
10. Collateral Default Amount treated as
Available Principal Collections: $180,997.14
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $2,496,283.40
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.6679%
b. Prior Monthly Period 8.8171%
c. Second Prior Monthly Period 9.0732%
2. Three Month Average Base Rate 9.1861%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 53 -
<PAGE>
<TABLE>
<CAPTION>
XII. Series 2000-2 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 552,635,036.67 500,000,000.00 52,635,036.67
Beginning Adjusted Invested Amount N/A 500,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 9,671,408.74 8,750,267.44 921,141.30
Collections of Principal Receivables 51,147,720.97 46,276,219.91 4,871,501.06
Defaulted Amount 2,667,343.01 2,413,295.24 254,047.77
Ending Invested / Transferor Amounts 552,929,230.75 500,000,000.00 52,929,230.75
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.7913% 6.9763% 7.5263%
Monthly Interest Due 2,256,675.78 224,790.28 287,983.59 2,769,449.65
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 2,256,675.78 224,790.28 287,983.59 2,769,449.65
Investor Default Amount 1,990,968.57 193,063.62 229,263.05 2,413,295.24
Investor Monthly Fees Due 687,500.00 66,666.67 79,166.67 833,333.33
Investor Additional Amounts Dues
Total Due 4,935,144.35 484,520.56 596,413.31 6,016,078.23
Reallocated Investor Finance Charge Collections 8,750,267.44
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.0691%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
Interest Distributions 2,256,675.78 224,790.28 287,983.59 2,769,449.65
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 2,256,675.78 224,790.28 287,983.59 2,769,449.65
Ending Certificates Balance 412,500,000.00 40,000,000.00 47,500,000.00 500,000,000.00
</TABLE>
- 54 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.47
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.47
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.62
2. Amount of the distribution in
respect of class B monthly interest: $5.62
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 55 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $287,983.59
2. Amount distributed in respect of Collateral
Monthly Interest: $287,983.59
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 56 -
<PAGE>
1. Class A Available Funds: $7,218,970.64
a. Class A Monthly Interest: $2,256,675.78
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $1,990,968.57
e. Excess Spread: $2,971,326.29
2. Class B Available Funds: $700,021.40
a. Class B Monthly Interest: $224,790.28
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $475,231.12
3. Collateral Available Funds: $831,275.41
a. Excess Spread: $831,275.41
4. Total Excess Spread: $4,277,832.81
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 2000-2 Allocable Principal
Collections: $51,147,720.97
3. Principal Allocation Percentage of
Series 2000-2 Allocable Principal
Collections: $46,276,219.91
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $46,276,219.91
6. Shared Principal Collections from other
Series allocated to Series 2000-2: N/A
7. Other amounts Treated as Available Principal
Collections: $2,413,295.24
8. Available Principal Collections
(total of 5., 6. & 7.): $48,689,515.15
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $47,500,000.00
2. Required Collateral Invested Amount $47,500,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $48,689,515.15
- 57 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 2000-2
1. Excess Spread: $4,277,832.81
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $193,063.62
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $287,983.59
9. Applied to unpaid Monthly Servicing Fee: $833,333.33
10. Collateral Default Amount treated as
Available Principal Collections: $229,263.05
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $2,734,189.22
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.0691%
b. Prior Monthly Period 8.8978%
c. Second Prior Monthly Period 8.8285%
2. Three Month Average Base Rate 8.9318%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 58 -
<PAGE>
<TABLE>
<CAPTION>
XIII. Series 2000-3 Certificates
-----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- --------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,105,270,073.33 1,000,000,000.00 105,270,073.33
Beginning Adjusted Invested Amount N/A 1,000,000,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 19,342,817.47 17,500,534.88 1,842,282.59
Collections of Principal Receivables 102,295,441.94 92,552,439.81 9,743,002.13
Defaulted Amount 5,334,686.01 4,826,590.48 508,095.53
Ending Invested / Transferor Amounts 1,105,858,461.51 1,000,000,000.00 105,858,461.51
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.7863% 6.9763% 7.4263%
Monthly Interest Due 4,510,028.65 449,580.56 568,314.41 5,527,923.61
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due 4,510,028.65 449,580.56 568,314.41 5,527,923.61
Investor Default Amount 3,981,937.15 386,127.24 458,526.10 4,826,590.48
Investor Monthly Fees Due 1,375,000.00 133,333.33 158,333.33 1,666,666.67
Investor Additional Amounts Dues
Total Due 9,866,965.79 969,041.13 1,185,173.84 12,021,180.76
Reallocated Investor Finance Charge Collections 17,500,534.88
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.0553%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 825,000,000.00 80,000,000.00 95,000,000.00 1,000,000,000.00
Interest Distributions 4,510,028.65 449,580.56 568,314.41 5,527,923.61
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions 4,510,028.65 449,580.56 568,314.41 5,527,923.61
Ending Certificates Balance 825,000,000.00 80,000,000.00 95,000,000.00 1,000,000,000.00
</TABLE>
- 59 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.47
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.47
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.62
2. Amount of the distribution in
respect of class B monthly interest: $5.62
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
- 60 -
<PAGE>
(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $568,314.41
2. Amount distributed in respect of Collateral
Monthly Interest: $568,314.41
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
- 61 -
<PAGE>
1. Class A Available Funds: $14,437,941.28
a. Class A Monthly Interest: $4,510,028.65
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $3,981,937.15
e. Excess Spread: $5,945,975.49
2. Class B Available Funds: $1,400,042.79
a. Class B Monthly Interest: $449,580.56
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $950,462.24
3. Collateral Available Funds: $1,662,550.81
a. Excess Spread: $1,662,550.81
4. Total Excess Spread: $8,558,988.54
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 2000-3 Allocable Principal
Collections: $102,295,441.94
3. Principal Allocation Percentage of
Series 2000-3 Allocable Principal
Collections: $92,552,439.81
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $92,552,439.81
6. Shared Principal Collections from other
Series allocated to Series 2000-3: N/A
7. Other amounts Treated as Available Principal
Collections: $4,826,590.48
8. Available Principal Collections
(total of 5., 6. & 7.): $97,379,030.29
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $95,000,000.00
2. Required Collateral Invested Amount $95,000,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $97,379,030.29
- 62 -
<PAGE>
M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 2000-3
1. Excess Spread: $8,558,988.54
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $386,127.24
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $568,314.41
9. Applied to unpaid Monthly Servicing Fee: $1,666,666.67
10. Collateral Default Amount treated as
Available Principal Collections: $458,526.10
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $5,479,354.13
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.0553%
b. Prior Monthly Period 8.8839%
c. Second Prior Monthly Period 8.0326%
2. Three Month Average Base Rate 8.6573%
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period 14.6965%
4. Three Month Average Series Adjusted Portfolio Yield 14.6491%
- 63 -
<PAGE>
This report relates to the allocation and distribution of available funds
that will occur on the August 15, 2000 Distribution Date related to the Series
2000-4 Certificates (the "Certificates") that have been issued by the American
Express Credit Account Master Trust. When that Distribution Date is not also an
Interest Payment Date, any amount described below and related to interest that
is "due" on, or distributable with respect to, the Certificates will be
deposited to the Interest Funding Account for payment to the holders of the
Certificates on the next Interest Payment Date. When that Distribution Date is
also an Interest Payment Date, any amount described below and related to
interest that is "due" on the Certificates will be distributed, together with
amounts that were previously deposited to the Interest Funding Account (net of
interest and other investment income earned thereon), to the holders of the
Certificates on that date.
<TABLE>
<CAPTION>
XIV. Series 2000-4 Certificates
----------------------------------------------------------------------------------------------------------------------------------
Series Total Investor Transferors
A. Investor/Transferor Allocations Allocations Interest Interest
---------------------------------- ----------- -------------- -----------
<S> <C> <C> <C> <C>
Beginning Invested /Transferor Amount 1,339,722,171.83 1,212,122,000.00 127,600,171.83
Beginning Adjusted Invested Amount N/A 1,212,122,000.00 N/A
Floating Allocation Percentage N/A 90.4756% 9.5244%
Principal Allocation Percentage N/A 90.4756% 9.5244%
Collections of Finance Chg. Receivables 23,445,854.60 21,212,783.34 2,233,071.26
Collections of Principal Receivables 123,994,555.68 112,184,848.45 11,809,707.22
Defaulted Amount 6,466,290.28 5,850,416.51 615,873.77
Ending Invested / Transferor Amounts 1,340,435,370.08 1,212,122,000.00 128,313,370.08
Collateral
B. Monthly Period Funding Requirements Class A Class B Interest Total
-------------------------------------- ------- ------- ---------- -----
Principal Funding Account 0.00 0.00 0.00 0.00
Investment Proceeds for Monthly Period 0.00 0.00 0.00 0.00
Reserve Draw Amount 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Reserve Account Surplus 0.00 0.00 0.00 0.00
Coupon July 17, 2000 - August 14, 2000 6.8863% 7.1113% 7.4763%
Monthly Interest Due* 5,547,256.94 555,493.32 693,506.92 6,796,257.18
Outstanding Monthly Interest Due 0.00 0.00 0.00 0.00
Additional Interest Due 0.00 0.00 0.00 0.00
Total Interest Due* 5,547,256.94 555,493.32 693,506.92 6,796,257.18
Investor Default Amount 4,826,590.48 468,034.48 555,791.55 5,850,416.51
Investor Monthly Fees Due 1,666,666.67 161,616.67 191,920.00 2,020,203.33
Investor Additional Amounts Dues
Total Due 12,040,514.09 1,185,144.46 1,441,218.47 14,666,877.02
Reallocated Investor Finance Charge Collections 21,212,783.34
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.9225%
Base Rate 9.1547%
Collateral
C. Certificates - Balances and Distributions Class A Class B Interest Total
-------------------------------------------- ------- ------- ---------- -----
Beginning Certificates Balance 1,000,000,000.00 96,970,000.00 115,152,000.00 1,212,122,000.00
Interest Distributions* 5,547,256.94 555,493.32 693,506.92 6,796,257.18
Principal Deposits - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Distributions 0.00 0.00 0.00 0.00
Total Distributions* 5,547,256.94 555,493.32 693,506.92 6,796,257.18
Ending Certificates Balance 1,000,000,000.00 96,970,000.00 115,152,000.00 1,212,122,000.00
</TABLE>
- 64 -
<PAGE>
D. Information regarding distributions on the Distribution Date in respect
of the Class A Certificates per $1,000 original certificate principal amount.
1. Total amount of the distribution: $5.55
2. Amount of the distribution in
respect of Class A Monthly Interest: $5.55
3. Amount of the distribution in respect of
Class A Outstanding Monthly Interest: $0.00
4. Amount of the distribution in respect of
Class A Additional Interest: $0.00
5. Amount of the distribution in
respect of Class A Principal: $0.00
E. Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs on such Distribution Date.
1. Total amount of Class A Investor Charge-Offs: $0.00
2. Amount of Class A Investor Charge-
Offs per $1,000 original certificate
principal amount: $0.00
3. Total amount reimbursed in respect of
Class A Investor Charge-Offs: $0.00
4. Amount reimbursed in respect of Class
A Investor Charge-Offs 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
F. Information regarding distributions in respect of the Class B Certificates,
per $1,000 original certificate principal amount.
1. The total amount of the distribution: $5.73
2. Amount of the distribution in
respect of class B monthly interest: $5.73
3. Amount of the distribution in
respect of class B outstanding monthly
interest: $0.00
4. Amount of the distribution in
respect of class B additional interest: $0.00
5. Amount of the distribution in
respect of class B principal: $0.00
G. Amount of reductions in Class B Invested Amount pursuant to clauses (c),
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(d), and (e) of the definition of Class B Invested Amount on such
Distribution Date.
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
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
H. Information regarding distributions on the Distribution Date to the
Collateral Interest Holder.
1. Total amount distributed to the Collateral
Interest Holder: $693,506.92
2. Amount distributed in respect of Collateral
Monthly Interest: $693,506.92
3. Amount distributed in respect of Collateral
Additional Interest: $0.00
4. The amount distributed to the Collateral
Interest Holder in respect of principal
on the Collateral Invested Amount: $0.00
I. 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
J. Application of Reallocated Investor Finance Charge Collections.
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1. Class A Available Funds(Includes Int. Income from IFA): $17,529,780.56
a. Class A Monthly Interest: $5,547,256.94
b. Class A Outstanding Monthly Interest: $0.00
c. Class A Additional Interest: $0.00
d. Class A Investor Default Amount $0.00
(Treated as Available Principal Collections): $4,826,590.48
e. Excess Spread: $7,155,933.14
2. Class B Available Funds: $1,697,026.87
a. Class B Monthly Interest: $555,493.32
b. Class B Outstanding Monthly Interest: $0.00
c. Class B Additional Interest: $0.00
d. Excess Spread: $1,141,533.55
3. Collateral Available Funds: $2,015,221.59
a. Excess Spread: $2,015,221.59
4. Total Excess Spread: $10,312,688.28
K. Reallocated Principal Collections.
1. Principal Allocation Percentage: 90.4756%
2. Series 2000-4 Allocable Principal
Collections: $123,994,555.68
3. Principal Allocation Percentage of
Series 2000-4 Allocable Principal
Collections: $112,184,848.45
4. Reallocated Principal Collections
Required to fund the Required Amount: $0.00
5. Item 3 minus item 4: $112,184,848.45
6. Shared Principal Collections from other
Series allocated to Series 2000-4: N/A
7. Other amounts Treated as Available Principal
Collections: $5,850,416.51
8. Available Principal Collections
(total of 5., 6. & 7.): $118,035,264.96
L. Application of Available Principal Collections during Revolving Period.
1. Collateral Invested Amount $115,152,000.00
2. Required Collateral Invested Amount $115,152,000.00
3. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: $0.00
4. Treated as Shared Principal Collections: $118,035,264.96
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M. Application of Principal Collections During Accumulation or Amortization
Period.
1. Principal Funding Account: N/A
2. Excess of Collateral Invested Amount
over Required Collateral Invested Amount: N/A
3. Principal Distribution: N/A
4. Treated as Shared Principal Collections: N/A
N. Application of Excess Spread and Excess Finance Charge Collections
Allocated to Series 2000-4
1. Excess Spread: $10,312,688.28
2. Excess Finance Charge Collections: $0.00
3. Applied to fund Class A Required Amount: $0.00
4. Class A Investor Charge-Offs treated
as Available Principal Collections: $0.00
5. Applied to fund Class B overdue Interest: $0.00
6. Applied to fund Class B Required Amount: $468,034.48
7. Reduction of Class B Invested Amount
treated as Available Principal Collections: $0.00
8. Applied to Collateral Monthly Interest: $693,506.92
9. Applied to unpaid Monthly Servicing Fee: $2,020,203.33
10. Collateral Default Amount treated as
Available Principal Collections: $555,791.55
11. Reduction of Collateral Invested Amount
treated as Available Principal Collections: $0.00
12. Deposited to Reserve Account: $0.00
13. Applied to other amounts owed to
Collateral Interest Holder: $0.00
14. Balance: $6,575,152.00
O. Yield and Base Rate
1. Base Rate
a. Current Monthly Period 9.1547%
b. Prior Monthly Period 9.4926%
c. Second Prior Monthly Period N/A
2. Three Month Average Base Rate N/A
3. Series Adjusted Portfolio Yield
a. Current Monthly Period 14.9225%
b. Prior Monthly Period 14.3282%
c. Second Prior Monthly Period N/A
4. Three Month Average Series Adjusted Portfolio Yield N/A
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P. Interest Funding Account
1. The aggregate amount on deposit in the Interest
Funding Account after giving effect to any deposits
and withdrawals to be made on the related
Distribution Date $11,363,741.87
2. The aggregate amount deposited into the Interest
Funding Account with respect to the Class A
Certificates on the related Distribution Date $10,329,375.00
3. The aggregate amount deposited into the Interest
Funding Account with respect to the Class B
Certificates on the related Distribution Date $1,034,366.87
4. The Interest Funding Account Proceeds depostited in
the Collection Account on the related Distribution
Date (Applied to Class A Available funds Item J.1. Above) $29,245.68
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