Exhibit 99.5
MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1996-C
CC MASTER CREDIT CARD TRUST II
(Formerly Chevy Chase Master Credit Card Trust II)
RECEIVABLES | | |
|
| Beginning of the Month Principal Receivables: | | $2,600,198,200.61 |
| Beginning of the Month Finance Charge Receivables: | | $133,319,799.76 |
| Beginning of the Month Discounted Receivables: | | $0.00 |
| Beginning of the Month Total Receivables: | | $2,733,518,000.37 |
|
| Removed Principal Receivables: | | $0.00 |
| Removed Finance Charge Receivables: | | $0.00 |
| Removed Total Receivables: | | $0.00 |
|
| Additional Principal Receivables: | | $0.00 |
| Additional Finance Charge Receivables: | | $0.00 |
| Additional Total Receivables: | | $0.00 |
|
| Discounted Receivables Generated this Period: | | $0.00 |
|
| End of the Month Principal Receivables: | | $2,572,789,040.65 |
| End of the Month Finance Charge Receivables: | | $132,222,969.32 |
| End of the Month Discounted Receivables: | | $0.00 |
| End of the Month Total Receivables: | | $2,705,012,009.97 |
|
| Special Funding Account Balance | | $0.00 |
| Aggregate Adjusted Invested Amount (all Master Trust II Series) | | $1,164,800,000.00 |
| End of the Month Transferor Amount | | $1,407,989,040.65 |
| End of the Month Transferor Percentage | | 54.73% |
|
DELINQUENCIES AND LOSSES | | |
|
| End of the Month Delinquencies: | | |
|
| 30-59 Days Delinquent | | $65,580,772.13 |
| 60-89 Days Delinquent | | $42,687,634.28 |
| 90+ Days Delinquent | | $78,935,218.87 |
|
| Total 30+ Days Delinquent | | $187,203,625.28 |
| Delinquent Percentage | | 6.92% |
|
| Defaulted Accounts During the Month | | $16,097,615.15 |
| Annualized Default Percentage | | 7.43% |
| Principal Collections | | $287,661,712.72 |
| Principal Payment Rate | | 11.06% |
|
| Total Payment Rate | | 11.91% |
|
INVESTED AMOUNTS | | |
| Class A Initial Invested Amount | | $184,500,000.00 |
| Class B Initial Invested Amount | | $19,125,000.00 |
| Class C Initial Invested Amount | | $21,375,000.00 |
| | |
|
| INITIAL INVESTED AMOUNT | | $225,000,000.00 |
|
| Class A Invested Amount | | $246,000,000.00 |
| Class B Invested Amount | | $25,500,000.00 |
| Class C Invested Amount | | $28,500,000.00 |
| | |
|
| INVESTED AMOUNT | | $300,000,000.00 |
|
| Class A Adjusted Invested Amount | | $246,000,000.00 |
| Class B Adjusted Invested Amount | | $25,500,000.00 |
| Class C Adjusted Invested Amount | | $28,500,000.00 |
| | |
|
| ADJUSTED INVESTED AMOUNT | | $300,000,000.00 |
|
| PREFUNDED AMOUNT | | $0.00 |
|
| FLOATING ALLOCATION PERCENTAGE | | 11.54% |
| PRINCIPAL ALLOCATION PERCENTAGE | | 11.54% |
|
| Class A Principal Allocation Percentage | | 82.00% |
| Class B Principal Allocation Percentage | | 8.50% |
| Class C Principal Allocation Percentage | | 9.50% |
|
COLLECTIONS OF PRINCIPAL RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED
TO SERIES 1996-C | | $33,189,206.09 |
|
COLLECTIONS OF FINANCE CHARGE RECEIVABLES
DURING THE MONTHLY PERIOD ALLOCATED TO
SERIES 1996-C | | $4,361,451.40 |
|
| MONTHLY SERVICING FEE | | $375,000.00 |
|
| INVESTOR DEFAULT AMOUNT | | $1,857,275.56 |
CLASS A AVAILABLE FUNDS | | |
|
| CLASS A FLOATING ALLOCATION PERCENTAGE | | 82.00% |
|
| Class A Finance Charge Collections | | $3,883,890.16 |
| Other Amounts | | $0.00 |
|
| TOTAL CLASS A AVAILABLE FUNDS | | $3,883,890.16 |
|
| Class A Monthly Interest | | $389,026.93 |
| Class A Servicing Fee | | $307,500.00 |
| Class A Investor Default Amount | | $1,522,965.96 |
|
| TOTAL CLASS A EXCESS SPREAD | | $1,664,397.27 |
|
| CLASS A REQUIRED AMOUNT | | $0.00 |
|
CLASS B AVAILABLE FUNDS | | |
|
| CLASS B FLOATING ALLOCATION PERCENTAGE | | 8.50% |
|
| Class B Finance Charge Collections | | $402,598.36 |
| Other Amounts | | $0.00 |
|
| TOTAL CLASS B AVAILABLE FUNDS | | $402,598.36 |
|
| Class B Monthly Interest | | $45,153.25 |
| Class B Servicing Fee | | $31,875.00 |
|
| TOTAL CLASS B EXCESS SPREAD | | $325,570.11 |
| CLASS B INVESTOR DEFAULT AMOUNT | | $157,868.42 |
| CLASS B REQUIRED AMOUNT | | $157,868.42 |
|
| CLASS C FLOATING ALLOCATION PERCENTAGE | | 9.50% |
|
| CLASS C MONTHLY SERVICING FEE | | $35,625.00 |
EXCESS SPREAD | | |
|
| TOTAL EXCESS SPREAD | | $2,404,305.26 |
|
| Excess Spread Applied to Class A Required Amount | | $0.00 |
|
| Excess Spread Applied to Class A Investor Charge Offs | | $0.00 |
|
| Excess Spread Applied to Class B Required Amount | | $157,868.42 |
|
| Excess Spread Applied to Reductions of Class B Invested Amount | | $0.00 |
|
| Excess Spread Applied to Class C Required Amount | | $240,107.62 |
|
| Excess Spread Applied to Reductions of Class C Invested Amount | | $0.00 |
|
| Excess Spread Applied to Monthly Cash Collateral Fee | | $62,500.00 |
|
| Excess Spread Applied to Cash Collateral Account | | $0.00 |
|
| Excess Spread Applied to Spread Account | | $0.00 |
|
| Excess Spread Applied to Reserve Account | | $0.00 |
|
| Excess Spread Applied to other amounts owed to Cash Collateral Depositor | | $0.00 |
|
| Excess Spread Applied to other amounts owed to Spread Account Residual Interest Holders | | $0.00 |
|
| TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR GROUP I | | $1,943,829.22 |
EXCESS FINANCE CHARGE COLLECTIONS—GROUP I | | |
|
| TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL SERIES IN GROUP I | | $8,908,584.89 |
|
SERIES 1996-C EXCESS FINANCE CHARGE COLLECTIONS | | |
|
| EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 1996-C | | $0.00 |
|
| Excess Finance Charge Collections applied to Class A Required Amount | | $0.00 |
|
| Excess Finance Charge Collections applied to Class A Investor Charge Offs | | $0.00 |
|
| Excess Finance Charge Collections applied to Class B Required Amount | | $0.00 |
|
| Excess Finance Charge Collections applied to Reductions of Class B Invested Amount | | $0.00 |
|
| Excess Finance Charge Collections applied to Class C Required Amount | | $0.00 |
|
| Excess Finance Charge Collections applied to Reductions of Class C Invested Amount | | $0.00 |
|
| Excess Finance Charge Collections applied to Monthly Cash Collateral Fee | | $0.00 |
|
| Excess Finance Charge Collections applied to other amounts owed Cash Collateral Depositor | | $0.00 |
|
| Excess Finance Charge Collections applied to other amounts owed to Spread Account Residual Interest Holders | | $0.00 |
|
YIELD AND BASE RATE | | |
|
| Base Rate (Current Month) | | 4.06% |
| Base Rate (Prior Month) | | 4.02% |
| Base Rate (Two Months Ago) | | 4.08% |
| | |
|
| THREE MONTH AVERAGE BASE RATE | | 4.05% |
|
| Portfolio Yield (Current Month) | | 11.52% |
| Portfolio Yield (Prior Month) | | 11.93% |
| Portfolio Yield (Two Months Ago) | | 11.76% |
| | |
|
| THREE MONTH AVERAGE PORTFOLIO YIELD | | 11.74% |
PRINCIPAL COLLECTIONS | | |
|
| TOTAL PRINCIPAL COLLECTIONS | | $33,189,206.09 |
|
| INVESTOR DEFAULT AMOUNT | | $1,857,275.56 |
|
| REALLOCATED PRINCIPAL COLLECTIONS | | |
| Allocable to Class C Interests | | $0.00 |
| Allocable to Class B Certficates | | $0.00 |
|
| SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER SERIES | | 0.00 |
|
| CLASS A SCHEDULED ACCUMULATION— | | |
| Controlled Accumulation Amount | | $0.00 |
| Deficit Controlled Accumulation Amount | | $0.00 |
| CONTROLLED DEPOSIT AMOUNT | | $0.00 |
|
| CLASS B SCHEDULED ACCUMULATION— | | |
| Controlled Accumulation Amount | | $0.00 |
| Deficit Controlled Accumulation Amount | | $0.00 |
| CONTROLLED DEPOSIT AMOUNT | | $0.00 |
|
| EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL SHARING | | $35,046,481.65 |
|
INVESTOR CHARGE OFFS | | |
|
| CLASS A INVESTOR CHARGE OFFS | | $0.00 |
| CLASS B INVESTOR CHARGE OFFS | | $0.00 |
| CLASS C INVESTOR CHARGE OFFS | | $0.00 |
|
| PREVIOUS CLASS A CHARGE OFFS REIMBURSED | | $0.00 |
| PREVIOUS CLASS B REDUCTIONS REIMBURSED | | $0.00 |
| PREVIOUS CLASS C REDUCTIONS REIMBURSED | | $0.00 |
|
| CASH COLLATERAL ACCOUNT | | |
| Required Cash Collateral Amount | | $9,000,000.00 |
| Available Cash Collateral Amount | | $9,000,000.00 |
|
| TOTAL DRAW AMOUNT | | $0.00 |
| CASH COLLATERAL ACCOUNT SURPLUS | | $0.00 |
FIRST USA BANK, NATIONAL ASSOCIATION |
as Servicer |
| | | /s/ MICHAEL J. GRUBB |
| By: | |
|
| | | Michael J. Grubb First Vice President |
