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 June 2004
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 251,458.33
Class B Monthly Interest __________ 0.00
per $1,000 original principal amount per Certificate:
Class A Monthly Interest 1.26
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 3,851,095.10
Collections of Finance Charge Receivables allocated to Class B 1,150,327.11
5.2(a)(v) Principal Receivables (beginning of month) 1,089,096,825.58
Gross Credit Sales 181,466,864.39
Principal Payments (164,055,414.92)
Returns (27,537,198.75)
Principal Defaults (7,861,046.47)
Ineligible Principal Receivables 0.00
Actual Misc. Adjustments 0.00
Principal Receivables (end of month) 1,071,110,029.83
Total Portfolio Recoveries
Gross Recoveries 1,568,142.60
Recoveries Net of Expenses 973,694.77
Total Portfolio Finance Charge Collections
Finance Charge Collections 19,997,382.49
Finance Charge Collections with Recoveries 20,971,077.26
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 23.85%
Class A Floating Allocation 77.00%
Class B Floating Allocation 23.00%
Fixed Investor Percentage 0.00%
Class A Fixed Allocation 0.00%
Class B Fixed Allocation 0.00%
5.2(a)(vi) Delinquent Accounts
30-59 Days Delinquent 33,031,773.00
60-89 Days Delinquent 11,952,381.00
90 + Days Delinquent 23,250,521.00
5.2(a)(vii) Aggregate Investor Default Amount 1,874,792.22
Class A Investor Default Amount 1,443,590.01
Class B Investor Default Amount 431,202.21
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 14.45%
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 1.23875%
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 3,851,095.10
5.2(a)(xx) Class A Certificate Rate 1.50875%
Other items
Number of Accounts (beginning of month) 2,088,611
Number of Accounts (end of month) 2,050,140
Collateral Performance
Total Payment Rate 16.99%
Portfolio Yield (Gross) 23.11%
Excess Spread (current month)* 11.74%
Excess Spread (previous month) 11.60%
Excess Spread (2 months previous) 10.29%
-----------------------------------------------------------
Excess Spread (3 month rolling Average) 11.21%
* 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 8.66%
30-59 Days Delinquent 3.03%
60-89 Days Delinquent 1.10%
90 + Days Delinquent 2.13%
-----------------------------------------------------------
Total Delinquent 6.27%
Principal Payment Rate 15.06%
Pool Balance in $MM (end of month) 1,071
Seller Percent 31.47%
Series Performance Trigger (as defined in Pooling and
Servicing Agreement)
Net Portfolio Yield (current month, net of Charge-offs) 14.45%
Net Portfolio Yield (previous month) 14.16%
Net Portfolio Yield (2 months previous) 12.96%
-----------------------------------------------------------
Net Portfolio Yield (3 month rolling average) 13.86%
Base Rate (current month) 3.51%
Base Rate (previous month) 3.32%
Base Rate (2 months previous) 3.46%
-----------------------------------------------------------
Base Rate (3 month rolling average) 3.43%
Spread to Base Rate (current month) 10.94%
Spread to Base Rate (previous month) 10.84%
Spread to Base Rate (2 months previous) 9.50%
-----------------------------------------------------------
Spread to Base Rate (3 month rolling average) 10.43%
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 2002-2
Monthly Series 2002-2 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 the Period June 2004
Class A Class B Class C Total
Section 5.2 - Supplement
(a)(i) Monthly Principal Distributed - - - -
(a)(ii) Monthly Interest Distributed per $1,000 3.17 - - 3.17
Deficiency Amounts - - - -
Additional Interest - - - -
Accrued and Unpaid Interest - - - -
(a)(iii) Collections of Principal Receivables 30,126,874.13 2,526,740.93 6,219,770.89 38,873,385.96
(a)(iv) Collections of Finance Charge Receivables 3,851,095.10 322,991.35 795,068.52 4,969,154.97
(a)(v) Aggregate Amount of Principal Receivables 196,696,933.58 16,496,971.82 40,608,589.42 253,802,494.82
Investor Interest 200,000,000.00 16,774,000.00 41,290,516.00 258,064,516.00
Adjusted Interest 200,000,000.00 16,774,000.00 41,290,516.00 258,064,516.00
Floating Investor Percentage 18.36% 1.54% 3.79% 23.70%
Fixed Investor Percentage N/A N/A N/A N/A
(a)(vi) Receivables Delinquent (As % of Total Receivables)
Current 92.08% 1,002,875,354.83
30 to 59 days 3.03% 33,031,773.00
60 to 89 days 1.10% 11,952,381.00
90 or more days 2.13% 23,250,521.00
Total Receivables 1,071,110,029.83
(a)(vii) Investor Default Amount per $1,000 7.22 0.61 1.49 9.31
(a)(viii) Investor Charge-Offs N/A N/A N/A N/A
(a)(ix) Reimbursed Investor Charge-Offs N/A N/A N/A N/A
Section 5.2 - Supplement (Continued)
Class A Class B Class C Total
(a)(x) Servicing Fee 333,333.33 27,956.67 68,817.53 430,107.53
(a)(xi) Portfolio Yield 14.45%
(a)(xii) Reallocated Monthly Principal - - - -
(a)(xiii) Closing Investor Interest 200,000,000.00 16,774,000.00 41,290,516.00 258,064,516.00
(a)(xiv) Principal Funding Account Balance -
(a)(xv) Accumulation Shortfall -
(a)(xvi) Principal Funding Investment Proceeds -
(a)(xvii) Principal Investment Funding Shortfall -
(a)(xviii) Available Funds 3,851,095.10 322,991.35 795,068.52 4,969,154.97
(a)(xix) Certificate Rate 3.80% 0.00% 0.00%
Additional Information
Principal Receivables - (Total Trust Pool)
Beginning Balance - 02/01/04 1,089,096,825.58
Credit Purchases 181,466,864.39
Credit Returns ($27,537,198.75)
Collections (184,052,797.41)
Finance Chgs & Late Fees $19,997,382.49
Charge-offs ($7,861,046.47)
Accounts Purchased/Sold -
----------------
Ending Balance - 02/29/04 1,071,110,029.83
================
Total Interest to be Distributed 633,333.33
================
Dillard National Bank, as Servicer
By:
-------------------------
James P. Turk
Cashier