EXHIBIT 20.2
MONTHLY SERVICER'S CERTIFICATE
First USA Bank, National Association
First NBC Credit Card Master Trust
Series 1997-1
For the July 11, 2001 Determination Date
For the 47th Monthly Period
The undersigned, a duly authorized representative of First USA Bank, National
Association, (the "Bank"), pursuant to the Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement"), dated as of August 1, 1997, by and between
the Bank, as successor Transferor and Servicer to Bank One Louisiana, N.A. (as
successor to the First National Bank of Commerce ("First NBC")) 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 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 Pooling and
Servicing Agreement. References herein to certain sections and subsections
are references to the respective sections and subsections of the Pooling
and Servicing Agreement, as amended by the applicable Series Supplement.
2. First USA Bank, National Association, is Servicer under the Pooling and
Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. The date of this Certificate is July 11, 2001, which is a Determination
Date under the Pooling and Servicing Agreement
5. The aggregate amount of Collections processed during the preceding Monthly
Period [equal to 5(a) plus 5(b)] was $105,643,541.46
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the Collections of
Finance Charge Receivables) was $12,053,920.56
(b) The aggregate amount of Collections of Principal Receivables
collected during the preceding Monthly Period (the Collections of
Principal Receivables) was $93,589,620.90
6. The aggregate amount of Receivables as of the end of the last day of the
preceding Monthly Period was $842,005,476.67
7. Included is an authentic copy of the statements required to be delivered by
the Servicer on the date of this Certificate to the Paying Agent pursuant
to Article V.
8. To the knowledge of the undersigned, there are no liens on any Receivables
in the Trust except as described below:
None.
9. The amount, if any, by which the sum of the balance of the Excess Funding
Account and the Aggregate Principal Receivables exceeds the Minimum
Aggregate Principal Receivables required to be maintained pursuant to the
Pooling and Servicing Agreement, is equal to $125,928,482.40
10. The amount, if any, of the withdrawal of the Specified Deposit from the
Finance Charge Account required to be made by the Trustee pursuant to
subsection 4.3(a) of the Pooling and Servicing Agreement on the related
Transfer Date is $0.00
Monthly Servicer's Certificate.
Page 2 (all amounts in dollars except percentages)
11. Monthly Period Trust Activity
(a) Trust Activity Total Trust
======================================================= ======================
Beginning Aggregate Principal Receivables 831,486,873.65
Beginning Excess Funding Account Balance 0.00
Beginning Total Principal Balance 831,486,873.65
Collections of Finance Charge Receivables 12,053,920.56
Discount Percentage 0.00
Discount Option Receivables Collections 0.00
Net Recoveries 0.00
Total Collections of Finance Charge Receivables 12,053,920.56
Total Collections of Principal Receivables 93,589,620.90
Net Default Amount 3,442,324.39
Minimum Aggregate Principal Receivables Balance 700,000,000.00
Ending Aggregate Principal Receivables 825,928,482.40
Ending Excess Funding Account Balance 0.00
Ending Total Principal Balance 825,928,482.40
(b) Series Allocations Series 1997-1 Series 1998-1 All Series
======================================================= =========================================================
Group Number 1 2
Investor Interest 300,000,000.00 400,000,000.00 700,000,000.00
Adjusted Investor Interest 300,000,000.00 400,000,000.00 700,000,000.00
Principal Funding Account Balance 0.00 0.00 0.00
Minimum Transferor Interest 57,814,993.77
(c) Group I Allocations Series 1997-1 Total Group I
======================================================= ==========================================
Investor Finance Charge Collections 4,349,048.52 4,349,048.52
Investor Monthly Interest 1,517,968.33 1,517,968.33
Investor Monthly Fees (Servicing Fee) 375,000.00 375,000.00
Investor Default Amounts 1,241,988.92 1,241,988.92
Investor Additional Amounts 0.00 0.00
Total 3,134,957.25 3,134,957.25
Reallocated Investor Finance Charge Collections 4,349,048.52 4,349,048.52
Available Excess 1,214,091.27 1,214,091.27
12. Series 1997-1 Certificates
Series 1997-1 All Other Transferor's
(a) Investor/Transferor Allocations Trust Interest Series Interest
==========================================================================================================================
Beginning Investor/Transferor Amounts 831,486,873.65 300,000,000.00 400,000,000.00 131,486,873.65
Beginning Adjusted Investor Interest 831,486,873.65 300,000,000.00 400,000,000.00
Floating Investor Percentage 100.000000% 36.079950% 48.106590%
Fixed Investor Percentage 100.000000% 36.079950% 48.106590%
Collections of Finance Chg. Receivables 12,053,920.56 4,349,048.52 5,798,730.14
Collections of Principal Receivables 93,589,620.90 33,767,088.40 45,022,775.21
Net Default Amount 3,442,324.39 1,241,988.92 1,655,984.88
Ending Investor/Transferor Amounts 825,928,482.40 300,000,000.00 400,000,000.00 125,928,482.40
Monthly Servicer's Certificate.
Page 3 (all amounts in dollars except percentages)
Collateral
(b) Monthly Period Funding Requirements Class A Class B Interest Total
==========================================================================================================================
Principal Funding Account 0.00 0.00 0.00 0.00
Principal Funding Investment Proceeds 0.00 0.00 0.00 0.00
Withdrawal from Reserve Account 0.00 0.00 0.00 0.00
Available Reserve Account Amount 0.00 0.00 0.00 0.00
Required Reserve Account Amount 0.00 0.00 0.00 0.00
Coupon 6.15000% 6.35000% 4.58000% 6.07187%
Floating Investor Percentage 31.20915% 2.52560% 2.34520% 36.07995%
Fixed Investor Percentage 31.20915% 2.52560% 2.34520% 36.07995%
Investor Monthly Interest 1,329,937.50 111,125.00 76,905.83 1,517,968.33
Overdue Monthly Interest 0.00 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00 0.00
Total Interest Due 1,329,937.50 111,125.00 76,905.83 1,517,968.33
Investor Default Amounts 1,074,320.19 86,939.34 80,729.39 1,241,988.92
Investor Monthly Fees 324,375.00 26,250.00 24,375.00 375,000.00
Investor Additional Amounts 0.00 0.00 0.00 0.00
Total Due 2,728,632.69 224,314.34 182,010.22 3,134,957.25
Collateral
(c) Certificates - Balances and Distributions Class A Class B Interest Total
==========================================================================================================================
Beginning Investor Interest 259,500,000.00 21,000,000.00 19,500,000.00 300,000,000.00
Monthly Principal - Prin. Funding Account 0.00 0.00 0.00 0.00
Principal Payments 0.00 0.00 0.00 0.00
Interest Payments 1,329,937.50 111,125.00 76,905.83 1,517,968.33
Total Payments 1,329,937.50 111,125.00 76,905.83 1,517,968.33
Ending Investor Interest 259,500,000.00 21,000,000.00 19,500,000.00 300,000,000.00
(d) Information regarding Payments in respect of the Class A Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.125000
2. Amount of Payment in respect of Class A Monthly Interest 5.125000
3. Amount of Payment in respect of Class A Overdue Monthly Interest 0.000000
4. Amount of Payment in respect of Class A Additional Interest 0.000000
5. Amount of Payment in respect of Class A Principal 0.000000
(e) Class A Investor Charge-Offs/Reimbursement of Class A Investor Charge-Offs
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
principal amount 0.00
5. The amount, if any, by which the outstanding Principal Balance of the Class A
Certificates exceeds the Class A Adjusted Investor Interest after giving effect to all
transactions on such Distribution Date 0.00
(f) Information regarding Payments in respect of the Class B Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.291667
2. Amount of Payment in respect of Class B Monthly Interest 5.291667
3. Amount of Payment in respect of Class B Overdue Monthly Interest 0.000000
4. Amount of Payment in respect of Class B Additional Interest 0.000000
5. Amount of Payment in respect of Class B Principal 0.000000
Monthly Servicer's Certificate.
Page 4 (all amounts in dollars except percentages)
(g) Amount of reductions in Class B Investor Interest pursuant to clauses (c),(d) and (e) of the
definition of Class B Investor Interest
1. Amount of reductions in Class B Investor Interest 0.00
2. Amount of reductions in Class B Investor Interest per $1,000 original certificate principal amount 0.00
3. Total amount reimbursed in respect of reductions of Class B Investor Interest 0.00
4. Amount reimbursed in respect of reductions of Class B Investor Interest per $1,000 original
certficate principal amount 0.00
5. The amount, if any, by which the outstanding Principal Balance of the Class B
Certificates exceeds the Class B Investor Interest after giving effect to all
transactions on such Distribution Date 0.00
(h) Information regarding the Distribution in respect of the Collateral Interest
1. Total distribution 3.943889
2. Amount of distribution in respect of Collateral Monthly Interest 3.943889
3. Amount of distribution in respect of Collateral Overdue Interest 0.000000
4. Amount of distribution in respect of Collateral Monthly Principa 0.000000
(i) Amount of reductions in Collateral Interest pursuant to clauses (c), (d), and (e) of the
definition of Collateral Interest
1. Amount of reductions in Collateral Interest 0.00
2. Total amount reimbursed in respect of reductions of Collateral Interest 0.00
(j) Application of Reallocated Investor Finance Charge Collections
1. Class A Available Funds 3,761,926.15
a. Class A Monthly Interest 1,329,937.50
b. Class A Overdue Monthly Interest 0.00
c. Class A Additional Interest 0.00
d. Class A Servicing Fee 324,375.00
e. Class A Investor Default Amount 1,074,320.19
f. Excess Spread 1,033,293.46
2. Class B Available Funds 304,433.82
a. Class B Monthly Interest 111,125.00
b. Class B Overdue Monthly Interest 0.00
c. Class B Additional Interest 0.00
d. Class B Servicing Fee 26,250.00
e. Excess Spread 167,058.82
3. Collateral Holder Available Funds 282,688.55
a. Excess Spread 282,688.55
4. Total Excess Spread 1,483,040.83
Monthly Servicer's Certificate.
Page 5 (all amounts in dollars except percentages)
(k) Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 1997-1
1. Beginning Excess Spread 1,483,040.83
2. Excess Finance Charge Collections 0.00
3. Applied to fund Class A Required Amount 0.00
4. Unreimbursed Class A Investor Charge-Offs 0.00
5. Applied to fund Class B Required Amount 86,939.34
6. Reductions of Class B Investor Interest treated as Available Principal Collections 0.00
7. Applied to Collateral Monthly Interest and unpaid Collateral Monthly Interest 76,905.83
8. Applied to Collateral Interest Servicing Fee and any overdue Collateral Interest Servicing Fee 24,375.00
9. Collateral Investor Default Amount treated as Available Principal Collections 80,729.39
10. Reductions of Collateral Interest treated as Available Principal Collections 0.00
11. Deposit to Reserve Account (if required) 0.00
12. Applied to other amounts owed to Collateral Interest Holder 0.00
13. Balance to constitute Excess Finance Charge Collections for other series 1,214,091.27
13. Trust Performance
(a) Delinquencies
1. 30-59 days 10,588,239.44
2. 60-89 days 6,604,257.71
3. 90 days and over 10,135,752.75
4. Total 30+ days delinquent 27,328,249.90
(b) Base Rate
a. Current Monthly Period 8.07187%
b. Prior Monthly Period 8.08144%
c. Second Prior Monthly Period 8.11753%
(c) Three Month Average Base Rate 8.09028%
(d) Portfolio Yield (gross portfolio yield less net defaults)
a. Current Monthly Period 12.42824%
b. Prior Monthly Period 12.92760%
c. Second Prior Monthly Period 13.51314%
(e) Three Month Average Portfolio Yield 12.95632%
(f) Excess Spread Percentage
a. Current Monthly Period 4.85637%
b. Prior Monthly Period 5.34615%
c. Second Prior Monthly Period 5.89561%
(g) Three Month Average Excess Spread Percentage 5.36604%
(h) Monthly Payment Rate (total collections/beginning aggregate principal receivables) 12.70538%%
(i) Portfolio Adjusted Yield 4.35637%
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 11th day of July.
First USA Bank, National Association, as Servicer
By: /s/ Tracie Klein
-----------------------------------
Name: Tracie Klein
Title: First Vice President