Exhibit 20.1
DILLARD CREDIT CARD MASTER TRUST I
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month January 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 359,944.44
Class B Monthly Interest 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.80
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 0.00
Collections of Principal Receivables allocated to Class B 0.00
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,434,632.95
Collections of Finance Charge Receivables allocated to Class B 1,025,929.33
5.2(a)(v) Principal Receivables (beginning of month) 1,484,336,946.36
Gross Credit Sales 200,410,150.16
Principal Payments (251,504,132.99)
Returns (37,419,685.92)
Principal Defaults (8,261,796.72)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,387,561,480.89
Total Portfolio Recoveries
Gross Recoveries 1,599,382.73
Recoveries Net of Expenses 1,182,920.71
Total Portfolio Finance Charge Collections
Finance Charge Collections 24,307,842.24
Finance Charge Collections with Recoveries 25,490,762.95
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 17.50%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 53,807,634.00
60-89 Days Delinquent 14,411,337.00
90 + Days Delinquent 27,941,016.00
5.2(a)(vii) Aggregate Investor Default Amount 1,445,710.31
Class A Investor Default Amount 1,113,196.94
Class B Investor Default Amount 332,513.37
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 13.93%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.82000%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,434,632.95
5.2(a)(xx) Class A Certificate Rate 2.09000%
Other items
Number of Accounts (beginning of month) 2,645,176
Number of Accounts (end of month) 2,676,973
Collateral Performance
Total Payment Rate 18.66%
Portfolio Yield (Gross) 20.61%
Excess Spread (current month)* 10.73%
Excess Spread (previous month) 9.52%
Excess Spread (2 months previous) 8.88%
---------------------------------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 9.71%
* Please note that Excess Spread is calculated on a cash
basis and may be higher than Spread to Base Rate in any
given month. Spread to Base Rate assumes coupon and
servicing fee are allocated based upon the entire invested
amount.
Defaults 6.68%
30-59 Days Delinquent 3.63%
60-89 Days Delinquent 0.97%
90 + Days Delinquent 1.88%
--------------------------------------------------------------------------------------------------------------
Total Delinquent 6.48%
Principal Payment Rate 16.94%
Pool Balance in $MM (end of month) 1,388
Seller Percent 66.27%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 13.93%
Net Portfolio Yield (previous month) 13.61%
Net Portfolio Yield (2 months previous) 13.37%
--------------------------------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 13.64%
Base Rate (current month) 4.16%
Base Rate (previous month) 4.09%
Base Rate (2 months previous) 4.51%
--------------------------------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.25%
Spread to Base Rate (current month) 9.77%
Spread to Base Rate (previous month) 9.52%
Spread to Base Rate (2 months previous) 8.86%
--------------------------------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 9.38%
Base Rate > Portfolio Yield (3 month rollng average) No
Dillard National Bank
as Servicer
By: --------------------------
Title: Cashier
DILLARD CREDIT CARD MASTER TRUST I
- -------------------------------------------------------------------------------
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month February 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 329,388.89
Class B Monthly Interest 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.65
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 0.00
Collections of Principal Receivables allocated to Class B 0.00
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,575,482.57
Collections of Finance Charge Receivables allocated to Class B 1,068,001.29
5.2(a)(v) Principal Receivables (beginning of month) 1,387,561,480.89
Gross Credit Sales 200,891,222.82
Principal Payments (204,645,534.73)
Returns (29,075,009.46)
Principal Defaults (7,607,243.88)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,347,124,915.64
Total Portfolio Recoveries
Gross Recoveries 1,838,842.31
Recoveries Net of Expenses 1,261,540.98
Total Portfolio Finance Charge Collections
Finance Charge Collections 23,544,468.50
Finance Charge Collections with Recoveries 24,806,009.48
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 18.72%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 57,123,366.00
60-89 Days Delinquent 13,721,401.00
90 + Days Delinquent 26,960,837.00
5.2(a)(vii) Aggregate Investor Default Amount 1,424,014.38
Class A Investor Default Amount 1,096,491.07
Class B Investor Default Amount 327,523.31
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 14.87%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.84750%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii)Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,575,482.57
5.2(a)(xx) Class A Certificate Rate 2.11750%
Other items
Number of Accounts (beginning of month) 2,676,973
Number of Accounts (end of month) 2,547,735
Collateral Performance
Total Payment Rate 16.54%
Portfolio Yield (Gross) 21.45%
Excess Spread (current month)* 11.81%
Excess Spread (previous month) 9.77%
Excess Spread (2 months previous) 9.52%
-----------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 10.37%
* Please note that Excess Spread is calculated on a cash
basis and may be higher than Spread to Base Rate in any
given month. Spread to Base Rate assumes coupon and
servicing fee are allocated based upon the entire
invested amount.
Defaults 6.58%
30-59 Days Delinquent 4.12%
60-89 Days Delinquent 0.99%
90 + Days Delinquent 1.94%
-----------------------------------------------------------------------------------------
Total Delinquent 7.05%
Principal Payment Rate 14.75%
Pool Balance in $MM (end of month) 1,347
Seller Percent 71.26%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 14.87%
Net Portfolio Yield (previous month) 13.93%
Net Portfolio Yield (2 months previous) 13.61%
-----------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 14.14%
Base Rate (current month) 3.98%
Base Rate (previous month) 4.16%
Base Rate (2 months previous) 4.09%
-----------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.08%
Spread to Base Rate (current month) 10.90%
Spread to Base Rate (previous month) 9.77%
Spread to Base Rate (2 months previous) 9.52%
-----------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 10.06%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:
--------------------------------------
Title: Cashier
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month March 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 373,722.22
Class B Monthly Interest 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.87
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 0.00
Collections of Principal Receivables allocated to Class B 0.00
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,374,951.11
Collections of Finance Charge Receivables allocated to Class B 1,008,102.28
5.2(a)(v) Principal Receivables (beginning of month) 1,347,124,915.64
Gross Credit Sales 238,466,037.54
Principal Payments (219,046,018.44)
Returns (31,497,036.10)
Principal Defaults (8,021,484.52)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,327,026,414.12
Total Portfolio Recoveries
Gross Recoveries 2,012,987.00
Recoveries Net of Expenses 1,413,477.62
Total Portfolio Finance Charge Collections
Finance Charge Collections 21,318,926.04
Finance Charge Collections with Recoveries 22,732,403.66
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 19.28%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 54,180,998.00
60-89 Days Delinquent 15,344,887.00
90 + Days Delinquent 25,890,967.00
5.2(a)(vii) Aggregate Investor Default Amount 1,546,629.01
Class A Investor Default Amount 1,190,904.34
Class B Investor Default Amount 355,724.67
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 13.10%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.90000%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,374,951.11
5.2(a)(xx) Class A Certificate Rate 2.17000%
Other items
Number of Accounts (beginning of month) 2,547,735
Number of Accounts (end of month) 2,483,519
Collateral Performance
Total Payment Rate 17.95%
Portfolio Yield (Gross) 20.25%
Excess Spread (current month)* 9.84%
Excess Spread (previous month) 10.90%
Excess Spread (2 months previous) 9.77%
---------------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 10.17%
* Please note that Excess Spread is calculated on a
cash basis and may be higher than Spread to Base Rate
in any given month. Spread to Base Rate assumes coupon
and servicing fee are allocated based upon the entire
invested amount.
Defaults 7.15%
30-59 Days Delinquent 4.02%
60-89 Days Delinquent 1.14%
90 + Days Delinquent 1.92%
---------------------------------------------------------------------------------------------
Total Delinquent 7.08%
Principal Payment Rate 16.26%
Pool Balance in $MM (end of month) 1,327
Seller Percent 80.57%
Series Performance Trigger (as defined in Pooling and Servicing
Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 13.10%
Net Portfolio Yield (previous month) 14.87%
Net Portfolio Yield (2 months previous) 13.93%
---------------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 13.97%
Base Rate (current month) 4.24%
Base Rate (previous month) 3.98%
Base Rate (2 months previous) 4.16%
---------------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.13%
Spread to Base Rate (current month) 8.86%
Spread to Base Rate (previous month) 10.89%
Spread to Base Rate (2 months previous) 9.77%
---------------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 9.84%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:
----------------------
Title: Cashier
DILLARD CREDIT CARD MASTER TRUST I
- --------------------------------------------------------------------------------
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month April 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 355,000.00
Class B Monthly Interest 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.78
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 0.00
Collections of Principal Receivables allocated to Class B 0.00
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,525,287.31
Collections of Finance Charge Receivables allocated to Class B 1,053,007.90
5.2(a)(v) Principal Receivables (beginning of month) 1,327,029,414.12
Gross Credit Sales 215,635,059.53
Principal Payments (193,186,398.76)
Returns (32,349,210.22)
Principal Defaults (7,440,397.48)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,309,688,467.19
Total Portfolio Recoveries
Gross Recoveries 2,141,748.44
Recoveries Net of Expenses 1,114,827.81
Total Portfolio Finance Charge Collections
Finance Charge Collections 22,275,971.99
Finance Charge Collections with Recoveries 23,390,799.80
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 19.57%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 50,469,578.00
60-89 Days Delinquent 14,159,003.00
90 + Days Delinquent 26,499,249.00
5.2(a)(vii) Aggregate Investor Default Amount 1,456,313.44
Class A Investor Default Amount 1,121,361.35
Class B Investor Default Amount 334,952.09
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 14.42%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.86000%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,525,287.31
5.2(a)(xx) Class A Certificate Rate 2.13000%
Other items
Number of Accounts (beginning of month) 2,483,519
Number of Accounts (end of month) 2,447,109
Collateral Performance
Total Payment Rate 16.32%
Portfolio Yield (Gross) 21.15%
Excess Spread (current month)* 11.24%
Excess Spread (previous month) 8.86%
Excess Spread (2 months previous) 10.90%
----------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 10.33%
* Please note that Excess Spread is calculated on a cash basis
and may be higher than Spread to Base Rate in any given month.
Spread to Base Rate assumes coupon and servicing fee are
allocated based upon the entire invested amount.
Defaults 6.73%
30-59 Days Delinquent 3.80%
60-89 Days Delinquent 1.07%
90 + Days Delinquent 2.00%
----------------------------------------------------------------------------------------
Total Delinquent 6.87%
Principal Payment Rate 14.56%
Pool Balance in $MM (end of month) 1,310
Seller Percent 80.43%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 14.42%
Net Portfolio Yield (previous month) 13.10%
Net Portfolio Yield (2 months previous) 14.87%
----------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 14.13%
Base Rate (current month) 4.13%
Base Rate (previous month) 4.24%
Base Rate (2 months previous) 3.98%
----------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.12%
Spread to Base Rate (current month) 10.29%
Spread to Base Rate (previous month) 8.86%
Spread to Base Rate (2 months previous) 10.89%
----------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 10.01%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:
---------------------------------
Title: Cashier
- -------------------------------------------------------------------------------
DILLARD CREDIT CARD MASTER TRUST I
- -------------------------------------------------------------------------------
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month May 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 386,833.33
Class B Monthly Interest _____ 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.93
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 0.00
Collections of Principal Receivables allocated to Class B 0.00
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,662,698.33
Collections of Finance Charge Receivables allocated to Class B 1,094,052.75
5.2(a)(v) Principal Receivables (beginning of month) 1,309,688,467.19
Gross Credit Sales 230,413,543.30
Principal Payments (186,305,395.15)
Returns (34,081,193.03)
Principal Defaults (7,761,752.41)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,311,953,669.90
Total Portfolio Recoveries
Gross Recoveries 1,535,617.57
Recoveries Net of Expenses 1,046,235.06
Total Portfolio Finance Charge Collections
Finance Charge Collections 22,938,733.76
Finance Charge Collections with Recoveries 23,984,968.82
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 19.83%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 54,731,611.00
60-89 Days Delinquent 15,579,127.00
90 + Days Delinquent 27,509,917.00
5.2(a)(vii) Aggregate Investor Default Amount 1,539,327.59
Class A Investor Default Amount 1,185,282.24
Class B Investor Default Amount 354,045.35
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 14.86%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.84000%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,662,698.33
5.2(a)(xx) Class A Certificate Rate 2.11000%
Other items
Number of Accounts (beginning of month) 2,447,109
Number of Accounts (end of month) 2,396,681
Collateral Performance
Total Payment Rate 16.06%
Portfolio Yield (Gross) 21.98%
Excess Spread (current month)* 11.54%
Excess Spread (previous month) 10.29%
Excess Spread (2 months previous) 8.86%
---------------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 10.23%
* Please note that Excess Spread is calculated on a
cash basis and may be higher than Spread to Base Rate
in any given month. Spread to Base Rate assumes coupon
and servicing fee are allocated based upon the entire
invested amount.
Defaults 7.11%
30-59 Days Delinquent 4.18%
60-89 Days Delinquent 1.19%
90 + Days Delinquent 2.10%
----------------------------------------------------------------------------------------------
Total Delinquent 7.47%
Principal Payment Rate 14.23%
Pool Balance in $MM (end of month) 1,312
Seller Percent 77.40%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 14.86%
Net Portfolio Yield (previous month) 14.42%
Net Portfolio Yield (2 months previous) 13.10%
---------------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 14.13%
Base Rate (current month) 4.32%
Base Rate (previous month) 4.13%
Base Rate (2 months previous) 4.24%
---------------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.23%
Spread to Base Rate (current month) 10.54%
Spread to Base Rate (previous month) 10.29%
Spread to Base Rate (2 months previous) 8.86%
---------------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 9.90%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:
-----------------------
Title: Cashier
- -------------------------------------------------------------------------------
DILLARD CREDIT CARD MASTER TRUST I
- -------------------------------------------------------------------------------
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month June 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 350,000.00
Class B Monthly Interest _______ 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.75
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 4,819,277.11
Collections of Principal Receivables allocated to Class B 4,819,277.11
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,671,171.84
Collections of Finance Charge Receivables allocated to Class B 1,096,583.80
5.2(a)(v) Principal Receivables (beginning of month) 1,311,953,669.90
Gross Credit Sales 222,058,791.40
Principal Payments (196,089,313.45)
Returns (31,160,663.53)
Principal Defaults (8,039,830.18)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,298,722,654.14
Total Portfolio Recoveries
Gross Recoveries 1,558,288.28
Recoveries Net of Expenses 970,952.43
Total Portfolio Finance Charge Collections
Finance Charge Collections 23,111,084.44
Finance Charge Collections with Recoveries 24,082,036.87
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 19.80%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 54,521,990.00
60-89 Days Delinquent 16,112,760.00
90 + Days Delinquent 29,246,705.00
5.2(a)(vii) Aggregate Investor Default Amount 1,591,723.57
Class A Investor Default Amount 1,225,627.15
Class B Investor Default Amount 366,096.42
5.2(a)(viii)on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 14.67%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii)Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.98000%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii)Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,671,171.84
5.2(a)(xx) Class A Certificate Rate 2.25000%
Other items
Number of Accounts (beginning of month) 2,396,681
Number of Accounts (end of month) 2,396,023
Collateral Performance
Total Payment Rate 16.78%
Portfolio Yield (Gross) 22.03%
Excess Spread (current month)* 11.52%
Excess Spread (previous month) 10.61%
Excess Spread (2 months previous) 10.29%
------------------------------
Excess Spread (3 month rolling Average) 10.81%
* Please note that Excess Spread is calculated on a cash basis
and may be higher than Spread to Base Rate in any given month.
Spread to Base Rate assumes coupon and servicing fee are
allocated based upon the entire invested amount.
Defaults 7.35%
30-59 Days Delinquent 4.16%
60-89 Days Delinquent 1.23%
90 + Days Delinquent 2.23%
------------------------------
Total Delinquent 7.61%
Principal Payment Rate 14.95%
Pool Balance in $MM (end of month) 1,299
Seller Percent 75.48%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 14.67%
Net Portfolio Yield (previous month) 14.86%
Net Portfolio Yield (2 months previous) 14.42%
------------------------------
Net Portfolio Yield (3 month rolling average) 14.65%
Base Rate (current month) 4.10%
Base Rate (previous month) 4.25%
Base Rate (2 months previous) 4.13%
------------------------------
Base Rate (3 month rolling average) 4.16%
Spread to Base Rate (current month) 10.57%
Spread to Base Rate (previous month) 10.61%
Spread to Base Rate (2 months previous) 10.29%
------------------------------
Spread to Base Rate (3 month rolling average) 10.49%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:____________________
Title: Cashier
- -------------------------------------------------------------------------------
DILLARD CREDIT CARD MASTER TRUST I
- -------------------------------------------------------------------------------
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month July 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 363,173.61
Class B Monthly Interest _________ 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.82
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 2,891,566.27
Collections of Principal Receivables allocated to Class B 2,891,566.27
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,684,691.93
Collections of Finance Charge Receivables allocated to Class B 1,100,622.27
5.2(a)(v) Principal Receivables (beginning of month) 1,298,722,654.14
Gross Credit Sales 209,548,453.49
Principal Payments (186,135,693.46)
Returns (28,964,149.18)
Principal Defaults (9,278,029.74)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,283,893,235.25
Total Portfolio Recoveries
Gross Recoveries 1,494,847.00
Recoveries Net of Expenses 997,034.17
Total Portfolio Finance Charge Collections
Finance Charge Collections 22,929,930.27
Finance Charge Collections with Recoveries 23,926,964.44
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 20.00%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 55,846,163.00
60-89 Days Delinquent 17,139,715.00
90 + Days Delinquent 30,340,112.00
5.2(a)(vii) Aggregate Investor Default Amount 1,855,575.44
Class A Investor Default Amount 1,428,793.09
Class B Investor Default Amount 426,782.35
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 13.54%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.83875%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,684,691.93
5.2(a)(xx) Class A Certificate Rate 2.10875%
Other items
Number of Accounts (beginning of month) 2,396,023
Number of Accounts (end of month) 2,359,047
Collateral Performance
Total Payment Rate 16.17%
Portfolio Yield (Gross) 22.11%
Excess Spread (current month)* 10.32%
Excess Spread (previous month) 10.57%
Excess Spread (2 months previous) 10.61%
-----------------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 10.50%
* Please note that Excess Spread is calculated on a
cash basis and may be higher than Spread to Base Rate
in any given month. Spread to Base Rate assumes
coupon and servicing fee are allocated based upon the
entire invested amount.
Defaults 8.57%
30-59 Days Delinquent 4.30%
60-89 Days Delinquent 1.32%
90 + Days Delinquent 2.34%
-----------------------------------------------------------------------------------------------
Total Delinquent 7.96%
Principal Payment Rate 14.33%
Pool Balance in $MM (end of month) 1,284
Seller Percent 75.06%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 13.54%
Net Portfolio Yield (previous month) 14.67%
Net Portfolio Yield (2 months previous) 14.86%
------------------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 14.36%
Base Rate (current month) 4.18%
Base Rate (previous month) 4.10%
Base Rate (2 months previous) 4.25%
------------------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.18%
Spread to Base Rate (current month) 9.36%
Spread to Base Rate (previous month) 10.57%
Spread to Base Rate (2 months previous) 10.61%
------------------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 10.18%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:________________________________
Title: Cashier
DILLARD CREDIT CARD MASTER TRUST I
Dillard Asset Funding Company, Transferor
Dillard National Bank, Servicer
Series 2000-1
Monthly Series 2000-1 Certificateholders' Statement
Capitalized terms used in this Certificate have their respective meanings
set forth in the Amended and Restated Pooling and Servicing Agreement;
provided, that the preceding Monthly Period shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b) of the
Amended and Restated Pooling and Servicing Agreement. References herein to
certain sections and subsections are references to the respective sections and
subsections of the Amended and Restated Pooling and Servicing Agreement.
For Month August 2002
5.2(a)(i) on an aggregate basis:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
5.2(a)(ii) on an aggregate basis:
Class A Monthly Interest 364,444.44
Class B Monthly Interest 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.82
Class B Monthly Interest 0.00
5.2(a)(iii) Collections of Principal Receivables allocated to Class A 6,024,096.39
Collections of Principal Receivables allocated to Class B 6,024,096.39
5.2(a)(iv) Collections of Finance Charge Receivables allocated to Class A 3,722,360.44
Collections of Finance Charge Receivables allocated to Class B 1,111,873.90
5.2(a)(v) Principal Receivables (beginning of month) 1,283,893,235.25
Gross Credit Sales 245,356,000.25
Principal Payments (184,756,953.95)
Returns (30,913,389.61)
Principal Defaults (8,984,535.78)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,304,594,356.16
Total Portfolio Recoveries
Gross Recoveries 1,467,989.18
Recoveries Net of Expenses 849,354.19
Total Portfolio Finance Charge Collections
Finance Charge Collections 23,046,212.77
Finance Charge Collections with Recoveries 23,895,566.96
Investor Interest 259,740,260.00
Adjusted Investor Interest 259,740,260.00
Class A Investor Interest 200,000,000.00
Class A Adjusted Investor Interest 200,000,000.00
Class B Investor Interest 59,740,260.00
Floating Investor Percentage 20.23%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage N/A
Class A Fixed Allocation N/A
Class B Fixed Allocation N/A
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 58,517,707.00
60-89 Days Delinquent 17,071,991.00
90 + Days Delinquent 31,686,908.00
5.2(a)(vii) Aggregate Investor Default Amount 1,817,632.18
Class A Investor Default Amount 1,399,576.78
Class B Investor Default Amount 418,055.40
5.2(a)(viii) on an aggregate basis:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs 0.00
Class B Investor Charge-Offs 0.00
5.2(a)(ix) on an aggregate basis:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
per $1,000 original principal amount per Certificate:
Class A Investor Charge-Offs reimbursed 0.00
Class B Investor Charge-Offs reimbursed 0.00
5.2(a)(x) on an aggregate basis:
Class A Servicing Fee 333,333.33
Class B Servicing Fee 0.00
5.2(a)(xi) Portfolio Yield 13.94%
5.2(a)(xii) Reallocated Class B Principal Collections 0.00
5.2(a)(xiii) Class B Investor Interest 59,740,260.00
5.2(a)(xiv) LIBOR for Interest Period 1.78000%
5.2(a)(xv) Principal Funding Account Balance 0.00
5.2(a)(xvi) Accumulation Shortfall 0.00
5.2(a)(xvii) Principal Funding Account Investment Proceeds 0.00
5.2(a)(xviii) Principal Funding Investment Shortfall 0.00
5.2(a)(xix) on an aggregate basis:
Class A Available Funds 3,722,360.44
5.2(a)(xx) Class A Certificate Rate 2.05000%
Other items
Number of Accounts (beginning of month) 2,359,047
Number of Accounts (end of month) 2,406,430
Collateral Performance
Total Payment Rate 16.25%
Portfolio Yield (Gross) 22.33%
Excess Spread (current month)* 10.71%
Excess Spread (previous month) 9.36%
Excess Spread (2 months previous) 10.57%
---------------------------------------------------------------------------------------------------
Excess Spread (3 month rolling Average) 10.21%
* Please note that Excess Spread is calculated on a cash
basis and may be higher than Spread to Base Rate in any
given month. Spread to Base Rate assumes coupon and
servicing fee are allocated based upon the entire
invested amount.
Defaults 8.40%
30-59 Days Delinquent 4.56%
60-89 Days Delinquent 1.33%
90 + Days Delinquent 2.47%
---------------------------------------------------------------------------------------------------------
Total Delinquent 8.36%
Principal Payment Rate 14.39%
Pool Balance in $MM (end of month) 1,305
Seller Percent 61.83%
Series Performance Trigger (as defined in Pooling and Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 13.94%
Net Portfolio Yield (previous month) 13.54%
Net Portfolio Yield (2 months previous) 14.67%
---------------------------------------------------------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 14.05%
Base Rate (current month) 4.19%
Base Rate (previous month) 4.18%
Base Rate (2 months previous) 4.10%
---------------------------------------------------------------------------------------------------------
Base Rate (3 month rolling average) 4.16%
Spread to Base Rate (current month) 9.75%
Spread to Base Rate (previous month) 9.36%
Spread to Base Rate (2 months previous) 10.57%
---------------------------------------------------------------------------------------------------------
Spread to Base Rate (3 month rolling average) 9.89%
Base Rate > Portfolio Yield (3 month rolling average) No
Dillard National Bank
as Servicer
By:
------------------------------------
Title: Cashier