UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 15, 2004
------------------------------------
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
ON BEHALF OF
CITIBANK CREDIT CARD MASTER TRUST I
(Issuer of the Collateral Certificate)
and
CITIBANK CREDIT CARD ISSUANCE TRUST
(Issuer of the Citiseries Class A notes,
Class B notes and Class C notes)
(Exact name of registrant as specified in charter)
UNITED STATES OF AMERICA
(State or other jurisdiction of incorporation)
46-0358360
(I.R.S. Employer Identification No.)
333-80743
333-52984
333-91326
333-103013
(Commission File No.)
701 EAST 60TH STREET, NORTH
SIOUX FALLS, SOUTH DAKOTA 57117
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (605) 331-2626
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
1
ITEM 8.01. OTHER EVENTS.
Citibank Credit Card Issuance Trust (the "issuer") has issued Class A
notes, Class B notes and Class C notes of the Citiseries pursuant to an
Indenture between the issuer and Deutsche Bank Trust Company Americas (formerly
Bankers Trust Company), as trustee. The issuer's primary asset -- and its
primary source of funds for the payment of principal of and interest on the
notes -- is a collateral certificate issued by Citibank Credit Card Master Trust
I (the "master trust") to the issuer. The collateral certificate represents an
undivided interest in the assets of the master trust. The master trust assets
consist primarily of credit card receivables arising in a portfolio of revolving
credit card accounts.
Filed as Exhibit 99.1 to this Form 8-K is a copy of the monthly issuer's
report containing information regarding the notes of the Citiseries, the Master
Trust's assets and the collateral certificate for the due period ending
August 26, 2004 and the related payment dates for the notes delivered
pursuant to Section 907 of the Indenture.
2
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibits Description
-------- -----------
99.1 Monthly Issuer's Report for the Due Period ending
August 26, 2004 and the related Payment Dates
for the Notes.
3
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CITIBANK (SOUTH DAKOTA), National Association,
as Managing Beneficiary of Citibank Credit
Card Issuance Trust and
as Servicer of Citibank Credit Card
Master Trust I
By: /s/ Doug Morrison
--------------------------------
Doug Morrison
Vice President
Dated: September 15, 2004
Exhibit 99.1
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
This Report relates to the Due Period ending Aug 26, 2004 and the related
Payment Dates for the Notes.
<table>
<Caption>
A. Information Regarding the Master Trust portfolio
-------------------------------------------------
1. Portfolio Yield for the Collateral Certificate ......... 9.61%
Yield Component ................................... 15.44%
Credit Loss Component ............................. 5.82%
2. New Purchase Rate ..................................... 18.24%
3. Total Payment Rate .................................... 18.49%
4. Principal Payment Rate ................................ 17.64%
5. Aggregate Amount of Principal Receivables in the Trust :
Beginning of Due Period ............................ $ 76,400,465,254
Average ............................................ $ 75,796,480,480
Lump Sum Addition .................................. $ 0
End of Due Period .................................. $ 76,174,692,142
</table>
6. Delinquencies (Aggregate outstanding balances in the Accounts that
were delinquent by the time periods listed below as of the close of
business of the month preceding the Payment Dates, as a percentage
of aggregate Receivables as of the last day of the Due Period) :
<table>
<Caption>
Current .......................................... $ 72,212,418,719
5-34 days delinquent ........................... $ 3,068,760,310
35-64 days delinquent ........................... $ 972,213,416
65-94 days delinquent ........................... $ 648,828,509
95-124 days delinquent ........................... $ 503,922,684
125-154 days delinquent ........................... $ 397,687,700
155-184 days delinquent ........................... $ 347,030,873
Current ........................................... 92.40%
5-34 days delinquent ........................... 3.93%
35-64 days delinquent ........................... 1.24%
65-94 days delinquent ........................... 0.83%
95-124 days delinquent ........................... 0.64%
125-154 days delinquent ........................... 0.51%
155-184 days delinquent ........................... 0.45%
</table>
Page 4
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
<table>
<Caption>
Current Due Current Due
Period on an Period on a
Actual Basis (1) Standard Basis (1)
B. Information Regarding the Collateral Certificate
-------------------------------------------------
(Percentage Basis)
1. Portfolio Yield 9.61% 9.57%
2. Weighted Average Note Rate 2.01% 1.99%
3. Weighted Average Investor Fee Rates
Fixed Servicing Fee 0.36% 0.37%
Others 0.01% 0.01%
4. Surplus Finance Charge Collections 7.23% 7.20%
5. Surplus Finance Charge Collections For
Purposes of Funding Class C Reserve Account 6.62% 6.59%
6. Required Surplus Finance Charge Amount 0.00% 0.00%
7. Aggregate Surplus Finance Charge Amount 7.23% 7.20%
minus Required Surplus Finance Charge Amount
</table>
<table>
<Caption>
C. Information Regarding the Collateral Certificate
-------------------------------------------------
(Dollars Basis)
1. Total Investor Collections $11,268,083,535 $11,265,823,118
Principal Collections $10,514,837,684 $10,514,837,684
Finance Charge Collections $ 753,245,851 $ 750,985,434
2. Investor Default Amount $ 284,634,999 $ 284,634,999
3. Investor Monthly Interest $ 103,898,118 $ 102,937,590
4. Investor Monthly Fees
Fixed Servicing Fees $ 17,826,420 $ 18,383,990
Others $ 321,132 $ 321,132
5. Surplus Finance Charge Collections $ 346,565,182 $ 344,707,723
6. Required Surplus Finance Charge Collections $ 0 $ 0
7. Aggregate Surplus Finance Charge Amount $ 346,565,182 $ 344,707,723
minus Required Surplus Finance Charge Amount
</table>
(1) Values for "Current Due Period on an Actual Basis" reflect,
in the case of a first due period close of a tranche of Notes,
activity from the close date until the first due period end,
or, as in the case of Investor Monthly Interest and certain
fees, until the first Monthly Interest Date. Values for
"Current Due Period on a Standard Basis" reflect activity for
the entire current period, as if all Notes had already been
outstanding prior to the first day of such period.
All percents are based on actual cash revenue or expense for
the period, converted to an annualized percent using day count
appropriate for the item, either 30/360, actual/360, or actual/actual.
Depending on the item, cash expenses may accrue
from July 28, 2004 to August 26, 2004 , 30 days, or
August 6 , 2004 to September 2 , 2004 , 28 days (standard basis).
Page 5
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
<table>
<Caption>
D. Information Regarding Regarding Notes of Citiseries
----------------------------------------------------
(Aggregate Basis)
1a. Class A Outstanding Dollar Principal Amount ............ $52,908,750,000
For all Classes except Class 2001-A3 (Dakota) ............ $37,908,750,000
For Class 2001-A3 (Dakota) ............................... $15,000,000,000
1b. Class B Outstanding Dollar Principal Amount ............ $ 2,390,000,000
1c. Class C Outstanding Dollar Principal Amount ............ $ 4,325,000,000
2a. Targeted Deposit to Class A Interest Funding Account ..... $ 84,663,938
2b. Targeted Deposit to Class B Interest Funding Account ..... $ 3,803,342
2c. Targeted Deposit to Class C Interest Funding Account ..... $ 15,430,838
3a. Balance in the Class A Interest Funding Account ......... $ 153,757,752
3b Balance in the Class B Interest Funding Account ......... $ 10,993,802
3c Balance in the Class C Interest Funding Account ......... $ 51,379,426
4a. Targeted Deposit to Class A Principal Funding Account .... $ 0
4b. Targeted Deposit to Class B Principal Funding Account .... $ 0
4c. Targeted Deposit to Class C Principal Funding Account .... $ 0
5a. Balance in the Class A Principal Funding Account ........ $ 0
5b. Balance in the Class B Principal Funding Account ........ $ 0
5c. Balance in the Class C Principal Funding Account ........ $ 0
6. Targeted Deposit to Class C Reserve Account ............. $ 0
7. Balance in the Class C Reserve Account .................. $ 0
</table>
<table>
<Caption>
Data Applicable to all Classes Except 2001-A3 (Dakota)
-------------------------------------------------------
8a. Maximum enhancement amount available to
Outstanding Class A Notes from Class B Notes ............ $ 2,268,046,395
8b. As a Percentage of Class A Outstanding
Dollar Principal Amount ................................. 5.98291%
8c. Maximum enhancement amount available to
Outstanding Class A Notes from Class C Notes ............ $ 3,024,060,596
8d. As a Percentage of Class A Outstanding
Dollar Principal Amount ................................. 7.97721%
8e. Maximum enhancement amount available to
Outstanding Class B Notes from Class C Notes ............ $ 3,186,666,587
8f. As a Percentage of Class B Outstanding
Dollar Principal Amount ................................. 133.33333%
</table>
<table>
<Caption>
Data Applicable only to Class 2001-A3 (Dakota) (1)
-------------------------------------------------------
9a. Maximum enhancement amount available to Outstanding
Class 2001-A3 Notes (Dakota) from Class C Notes ......... $ 1,042,780,500
9b. As a Percentage of Class 2001-A3 Notes (Dakota)
Outstanding Dollar Principal Amount ..................... 6.95187%
9c. Maximum enhancement amount available to Outstanding
Class 2001-A3 Notes (Dakota) from Class B Notes ......... $ 0
9d. As a Percentage of Class 2001-A3 Notes (Dakota)
Outstanding Dollar Principal Amount ..................... 0.00000%
</table>
- -----------------------------------------------------------------------------
(1) All conditions precedent were satisfied for the issuance of new tranches of
Dakota CP Notes during Due Period ending August 26, 2004, including the
condition that the weighted average remaining life to Expected Principal Payment
Date of all Dakota CP Notes be 60 days or less.
Page 4
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
<table>
<Caption>
Data Applicable to all Classes
-------------------------------
10a. Reduction in the Class A Nominal Liquidation
Amount resulting from an allocation
of Investor Charge-Offs ................................ $ 0
10b. Reduction in the Class B Nominal Liquidation
Amount resulting from an allocation of Investor
Charge-Offs or a reallocation of Principal
Collections to pay interest on Class A Notes ........... $ 0
10c. Reduction in the Class C Nominal Liquidation
Amount resulting from an allocation of Investor
Charge-Offs or a reallocation of Principal
Collections to pay interest on Class A or Class B Notes . $ 0
11a. Reimbursement of Class A Nominal Liquidation Amount .... $ 0
11b. Reimbursement of Class B Nominal Liquidation Amount .... $ 0
11c. Reimbursement of Class C Nominal Liquidation Amount .... $ 0
</table>
<table>
<Caption>
E. Information Regarding Distributions to Noteholders of Citiseries
-----------------------------------------------------------------
(Aggregate Basis)
1a. The total amount of the distribution to Class A Noteholders
on the applicable Payment Dates ......................... $ 45,781,885
1b. The total amount of the distribution to Class B Noteholders
on the applicable Payment Dates ......................... $ 9,250,052
1c. The total amount of the distribution to Class C Noteholders
on the applicable Payment Dates ......................... $ 26,286,326
2a. The amount of the distribution set forth in item 1(a) above
in respect of principal on the Class A Notes ........ $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect of principal on the Class B Notes ........ $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect of principal on the Class C Notes ........ $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Notes ........ $ 45,781,885
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Notes ........ $ 9,250,052
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the Class C Notes ........ $ 26,286,326
4a. The amount, if any, by which the Adjusted Outstanding
Dollar Principal Amount of the Class A Notes exceeds
the Class A Nominal Liquidation Amount as of the Record
Date with respect to the applicable Payment Dates ...... $ 0
4b. The amount, if any, by which the Adjusted Outstanding
Dollar Principal Amount of the Class B Notes exceeds
the Class B Nominal Liquidation Amount as of the Record
Date with respect to the applicable Payment Dates ...... $ 0
4c. The amount, if any, by which the Adjusted Outstanding
Dollar Principal Amount of the Class C Notes exceeds
the Class C Nominal Liquidation Amount as of the Record
Date with respect to the applicable Payment Dates ...... $ 0
</table>
Page 5
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
<table>
<Caption>
F. Information Regarding Notes of Citiseries (2)
----------------------------------------------
(Individual Tranche Basis)
1. Outstanding Dollar Principal Amount, Interest Payments and Deposits to
Interest Funding Sub-Accounts
Class/ Outstanding Monthly Targeted Actual Cumulative Interest Interest
Tranche Dollar Accretion Interest Interest Shortfall Funding Payment
Principal Monthly Monthly In Interest Sub-Account On Payment
Amount Deposit Deposit Funding Balance Date
Sub-Account
- ------------- --------------- ----------- ----------- ----------- ----------- ----------- ------------
Class 2000-A1 1,500,000,000 0 2,247,375 2,247,375 0 9,445,883 0
Class 2000-A3 1,000,000,000 0 1,536,583 1,536,583 0 5,298,178 0
Class 2000-B1 350,000,000 0 571,142 571,142 0 0 2,878,957
Class 2000-B2 150,000,000 0 231,250 231,250 0 477,917 0
Class 2000-C1 600,000,000 0 3,725,000 3,725,000 0 0 22,350,000
Class 2000-C2 200,000,000 0 375,000 375,000 0 775,000 0
Class 2001-A1 1,500,000,000 0 2,271,667 2,271,667 0 2,271,667 0
Class 2001-A2 2,250,000,000 0 3,316,875 3,316,875 0 3,316,875 0
Class 2001-A3 15,000,000,000 0 22,408,177 22,408,177 0 0 22,408,177
Class 2001-A4 1,108,750,000 0 1,738,899 1,738,899 0 3,365,611 0
Class 2001-A6 1,250,000,000 0 1,848,750 1,848,750 0 5,048,753 0
Class 2001-A7 420,000,000 0 646,188 646,188 0 646,188 0
Class 2001-A8 1,750,000,000 0 5,979,167 5,979,167 0 17,937,500 0
Class 2001-B1 350,000,000 0 612,500 612,500 0 1,265,833 0
Class 2001-B2 390,000,000 0 631,367 631,367 0 0 1,873,733
Class 2001-C1 500,000,000 0 1,116,667 1,116,667 0 2,307,778 0
Class 2001-C2 250,000,000 0 479,819 479,819 0 0 479,819
Class 2001-C3 500,000,000 0 2,770,833 2,770,833 0 11,083,333 0
Class 2001-C4 100,000,000 0 198,368 198,368 0 0 198,368
Class 2002-A1 1,000,000,000 0 1,346,325 1,346,325 0 1,346,325 0
Class 2002-A1 1,000,000,000 0 1,593,056 1,593,056 0 0 1,593,056
Class 2002-A2 1,000,000,000 0 1,451,042 1,451,042 0 1,451,042 0
Class 2002-A3 1,000,000,000 0 1,397,500 1,397,500 0 4,737,208 0
Class 2002-A4 750,000,000 0 1,095,052 1,095,052 0 0 1,095,052
Class 2002-A5 1,250,000,000 0 1,625,000 1,625,000 0 0 4,983,333
Class 2002-A8 1,000,000,000 0 1,411,736 1,411,736 0 0 1,411,736
Class 2002-A9 1,000,000,000 0 1,300,000 1,300,000 0 0 3,986,667
Class 2002-B1 400,000,000 0 696,667 696,667 0 0 1,984,444
Class 2002-C1 400,000,000 0 870,000 870,000 0 870,000 0
Class 2002-C2 350,000,000 0 2,027,083 2,027,083 0 2,027,083 0
Class 2002-C3 275,000,000 0 609,583 609,583 0 0 1,869,389
Class 2003-A1 1,250,000,000 0 1,770,833 1,770,833 0 3,659,722 0
Class 2003-A1 500,000,000 0 766,776 766,776 0 2,015,206 0
Class 2003-A1 750,000,000 0 1,031,250 1,031,250 0 2,131,250 0
Class 2003-A2 1,500,000,000 0 2,073,125 2,073,125 0 3,991,125 0
Class 2003-A3 750,000,000 0 1,093,234 1,093,234 0 0 5,185,115
Class 2003-A4 1,250,000,000 0 1,743,750 1,743,750 0 0 5,118,750
Class 2003-A5 1,000,000,000 0 2,083,333 2,083,333 0 10,416,667 0
Class 2003-A6 1,250,000,000 0 1,853,438 1,853,438 0 6,018,109 0
Class 2003-A7 650,000,000 0 960,826 960,826 0 960,826 0
Class 2003-A8 750,000,000 0 1,048,125 1,048,125 0 1,048,125 0
Class 2003-A9 2,500,000,000 0 3,896,528 3,896,528 0 3,896,528 0
Class 2003-B1 500,000,000 0 668,611 668,611 0 0 2,121,111
Class 2003-C1 325,000,000 0 700,984 700,984 0 1,498,656 0
Class 2003-C2 150,000,000 0 329,375 329,375 0 0 966,875
Class 2003-C3 150,000,000 0 556,250 556,250 0 2,781,250 0
Class 2003-C4 300,000,000 0 1,250,000 1,250,000 0 3,750,000 0
Class 2004-A1 2,750,000,000 0 5,843,750 5,843,750 0 11,687,500 0
Class 2004-A2 1,480,000,000 0 2,388,895 2,388,895 0 2,388,895 0
Class 2004-A3 1,000,000,000 0 2,449,346 2,449,346 0 2,449,346 0
Class 2004-A4 1,750,000,000 0 2,447,338 2,447,338 0 2,447,338 0
Class 2004-B1 250,000,000 0 391,806 391,806 0 0 391,806
Class 2004-C1 225,000,000 0 421,875 421,875 0 0 421,875
</table>
<table>
<Caption>
2. Principal Payments and Deposits to Principal Funding Sub-Accounts
Class/Tranche Targeted Actual Cumulative Principal Principal
Principal Principal Shortfall in Funding Payment On
Monthly Monthly Principal Sub-Account Payment Date
Deposit Deposit Funding Balance
Sub-Account
- --------------- --------------- --------------- --------------- --------------- ---------------
Nothing to report for this period.
</table>
-----------------------------------------------------------------------------
(2) The information reported is for the Due Period ending and
giving effect to all deposits, allocations, reallocations and payments to
be made in the month after the end of this Due Period.
Page 6
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
<table>
<Caption>
3. Deposits to and Withdrawals from Class C Reserve Sub-Accounts
-------------------------------------------------------------
Class/Tranche Targeted Actual Cumulative Withdrawals Class C
Deposit to Deposit to Shortfall in from Class C Reserve
Class C Class C Class C Reserve Sub-Account
Reserve Reserve Reserve Sub-Account Balance
Sub-Account Sub-Account Sub-Account
- --------------- --------------- --------------- --------------- --------------- ---------------
Nothing to report for this period.
</table>
<table>
<Caption>
4. Maximum Enhancement Amount Available to Class A Notes; Class A Usage of
Class B and Class C Subordinated Amounts
Class/Tranche Maximum Maximum Class A Class A Cumulative Cumulative
Enhancement Enhancement Usage of Usage of Class A Class A
Amount Amount Class B Class C Usage of Usage of
Available Available Subordinated Subordinated Class B Class C
from Class from Class Amount for Amount for Subordinated Subordinated
B Notes C Notes this Due this Due Amount Amount
Period Period
- --------------- ------------- ------------- ------------- ------------- ------------- --------------
Class 2000-A1 89,743,650 119,658,150
Class 2000-A3 59,829,100 79,772,100
Class 2001-A1 89,743,650 119,658,150
Class 2001-A2 134,615,475 179,487,225
Class 2001-A3 0 1,042,780,500
Class 2001-A4 66,335,515 88,447,316
Class 2001-A6 74,786,375 99,715,125
Class 2001-A7 25,128,222 33,504,282
Class 2001-A8 104,700,925 139,601,175
Class 2002-A1 59,829,100 79,772,100
Class 2002-A10 59,829,100 79,772,100
Class 2002-A2 59,829,100 79,772,100
Class 2002-A3 59,829,100 79,772,100
Class 2002-A4 44,871,825 59,829,075
Class 2002-A5 74,786,375 99,715,125
Class 2002-A8 59,829,100 79,772,100
Class 2002-A9 59,829,100 79,772,100
Class 2003-A1 74,786,375 99,715,125
Class 2003-A10 29,914,550 39,886,050
Class 2003-A11 44,871,825 59,829,075
Class 2003-A2 89,743,650 119,658,150
Class 2003-A3 44,871,825 59,829,075
Class 2003-A4 74,786,375 99,715,125
Class 2003-A5 59,829,100 79,772,100
Class 2003-A6 74,786,375 99,715,125
Class 2003-A7 38,888,915 51,851,865
Class 2003-A8 44,871,825 59,829,075
Class 2003-A9 149,572,750 199,430,250
Class 2004-A1 164,530,025 219,373,275
Class 2004-A2 88,547,068 118,062,708
Class 2004-A3 59,829,100 79,772,100
Class 2004-A4 104,700,925 139,601,175
</table>
Page 7
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION
CITIBANK (NEVADA), NATIONAL ASSOCIATION
==============================================================================
CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I
For the Due Period Ending August 26, 2004
==============================================================================
<table>
<Caption>
5. Maximum Enhancement Amount Available to Class B Notes; Class B Usage of
Class C Subordinated Amounts
Class/Tranche Maximum Enhancement Class B Usage of Cumulative Class B
Amount Available from Class C Subordinated Usage of Class C
Class C Notes Amount for this Due Subordinated Amount
Period
- --------------- ------------------------ ------------------------ ------------------------
Class 2000-B1 466,666,655
Class 2000-B2 199,999,995
Class 2001-B1 466,666,655
Class 2001-B2 519,999,987
Class 2002-B1 533,333,320
Class 2003-B1 666,666,650
Class 2004-B1 333,333,325
</table>
<table>
<Caption>
6. Reductions of and Reimbursements to Nominal Liquidation Amount
Class/Tranche Reduction Reduction Cumulative Cumulative Reimbursements
Resulting from Resulting from Reduction Reduction of prior
an Allocation from a Resulting from Resulting from reductions of
of Investor Reallocation an Allocation an Reallocation Nominal
Charge-offs of Principal of Investor of Principal Liquidation
for this Due Collections Charge-offs Collections to Amount for
Period to pay (net of pay interest on this Due
interest on Reimbursements) senior classes Period
senior of Notes (net of
classes of Reimbursements)
Notes for
this Due
Period
- --------------- ---------------- ---------------- ---------------- ---------------- ----------------
Nothing to report for this period.
</table>
Page 8
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Report this 15th day of September, 2004.
CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION,
As Managing Beneficiary of Citibank Credit
Card Issuance Trust
and
As Servicer of Citibank Credit Card
Master Trust I
By: /s/ Susan Sexton
____________________________________
Name: Susan Sexton
Title: Authorized Representative
Page 9