FORM 10-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934. For the fiscal year ended December 31, 1994
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from ____________ to ____________
Commission file number 1-5966
Chrysler Financial Corporation
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(Exact name of registrant as specified in its charter)
State of Michigan 38-0961430
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
27777 Franklin Road, Southfield, Michigan 48034-8286
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (810) 948-3060
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Securities registered pursuant to Section 12(b) of the Act: (See next page)
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes _x_ No ___
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to
the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]
All of the shares of the outstanding stock of the registrant are owned by
Chrysler Corporation.
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15 (d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes ___ No ___
(APPLICABLE ONLY TO CORPORATE REGISTRANTS)
As of December 31, 1994, there were 250,000 shares of the registrant's common
stock outstanding.
The registrant meets the conditions set forth in General Instructions J(1)(a)
and (b) of Form 10-K and is therefore filing this Form with the reduced
disclosure format.
Documents incorporated by reference are none.
THIS PAGE INTENTIONALLY LEFT BLANK
2
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class on which registered
Extendible Notes due April 15, 1997 New York Stock Exchange
13 1/4% Notes due October 15, 1999 New York Stock Exchange
12 3/4% Notes due November 1, 1999 New York Stock Exchange
9 1/2% Notes due 1999 New York Stock Exchange
8 1/2% Putable-Extendible Notes due
February 1, 2018 New York Stock Exchange
6 % Notes due 1996 New York Stock Exchange
6 1/2% Notes due 1998 New York Stock Exchange
6 5/8% Notes due 2000 New York Stock Exchange
3
PART I
ITEM 1. BUSINESS
The registrant, Chrysler Financial Corporation and its consolidated
subsidiaries (the "Company"), is a financial services organization engaged in
automotive retail and wholesale financing, servicing commercial leases and
loans, servicing secured small business loans, property and casualty insurance,
and automotive dealership facility development and management. All of the
Company's common stock is owned by Chrysler Corporation, a Delaware corporation
(together with its subsidiaries, "Chrysler"). The Company, a Michigan
corporation, is the continuing corporation resulting from a merger on June 1,
1967 of a financial services subsidiary of Chrysler into a newly acquired,
previously unaffiliated finance company incorporated in 1926.
The Company's primary objective is to provide financing for automotive dealers
and retail purchasers of Chrysler's products. The Company sells significant
amounts of automotive receivables acquired in transactions subject to limited
recourse provisions. The Company remains as servicer for which it is paid a
servicing fee. At the end of 1994, the Company had nearly 3,100 employees and
its portfolio of receivables managed, which includes receivables owned and
serviced for others, totaled $32.9 billion.
The Company's portfolio of finance receivables managed includes receivables
owned and receivables serviced for others. Receivables serviced for others
primarily represent sold receivables which the Company services for a fee. At
December 31, 1994, receivables serviced for others accounted for 61% of the
Company's portfolio of receivables managed. Total finance receivables managed
at the end of each of the five most recent years were as follows:
1994 1993 1992 1991 1990
(in millions of dollars)
Automotive financing $30,092 $25,011 $22,481 $24,220 $25,117
Nonautomotive financing 2,775 3,251 7,657 9,486 10,709
------- ------- ------- ------- -------
Total $32,867 $28,262 $30,138 $33,706 $35,826
======= ======= ======= ======= =======
Automotive Financing. The Company conducts its automotive finance business
principally through its subsidiaries Chrysler Credit Corporation, Chrysler
Credit Canada Ltd., and, in Mexico, Chrysler Comercial S.A. de C.V., (together
"Chrysler Credit"). Chrysler Credit is the major source of car and truck
wholesale financing (also referred to as dealer "floor plan") and retail
financing for Chrysler vehicles throughout North America. Chrysler Credit also
offers its floor plan dealers working capital loans, real estate and equipment
financing and financing plans for fleet buyers, including daily rental car
companies independent of, and affiliated with, Chrysler. The automotive
financing operations of Chrysler Credit are conducted through 94 branches in
the United States, Canada and Mexico.
During 1994, the Company financed or leased approximately 830,000 vehicles at
retail, including approximately 525,000 new Chrysler cars and trucks
representing 24 percent of Chrysler's U.S. retail and fleet deliveries. In
1994, the average monthly payment for new vehicle retail installment sale
contracts acquired in the United States was $375. The average percentage of
dealer cost financed was 94 percent and the average original term was 55
months.
The Company financed at wholesale approximately 1,647,000 new Chrysler cars and
trucks representing 73 percent of Chrysler's U.S. factory shipments in 1994.
Wholesale vehicle financing accounted for 74 percent of the total automotive
financing volume of the Company in 1994 and represented 31 percent of
automotive finance receivables outstanding at December 31, 1994.
4
ITEM 1. BUSINESS - continued
Nonautomotive Financing. The Company has downsized its nonautomotive operations
through sales and liquidations over the last several years. During 1993 and
1992, the Company realized $3.3 billion in aggregate cash proceeds from the
sales of nonautomotive assets.
Chrysler Capital Corporation ("Chrysler Capital") manages commercial leases and
loans in over 15 industries throughout the United States. At December 31, 1994,
Chrysler Capital managed $2.3 billion of commercial finance receivables
compared to $2.7 billion at December 31, 1993. In addition, the Company managed
a portfolio of secured small business loans totaling $.5 billion at December
31, 1994 compared to $.6 billion at December 31, 1993.
Insurance. Chrysler Insurance Company and its subsidiaries ("Chrysler
Insurance") provide specialized insurance coverages for automotive dealers and
their customers in the United States and Canada. Chrysler Insurance's property
and casualty business includes physical damage, garage liability, workers'
compensation and property and contents coverage provided directly to automotive
dealers. Chrysler Insurance also provides collateral protection and single
interest insurance to retail automobile customers and their financing sources.
Real Estate Management. Chrysler Realty Corporation ("Chrysler Realty"), which
is engaged in the ownership, development and management of Chrysler automotive
dealership properties in the United States, typically purchases, leases or
options dealership facilities and then leases or subleases these facilities to
Chrysler dealers. At December 31, 1994, Chrysler Realty controlled 876 sites
(of which 289 were owned by Chrysler Realty).
Funding. During 1994, the Company issued $1.8 billion of term debt and
increased the level of commercial paper to $4.3 billion. Receivable sales
continued to be a significant source of funding during 1994, as the Company
realized $6.4 billion of net proceeds from the sale of automotive retail
receivables compared to $7.8 billion in 1993. In addition, revolving wholesale
receivable sale arrangements provided funding which aggregated $3.8 billion and
$4.6 billion at December 31, 1994 and 1993, respectively.
During the year, the Company replaced its U.S. and Canadian revolving credit
and receivable sale agreements, which were originally scheduled to expire in
1995. The new agreements provide for lower total commitments, reductions in
borrowing spreads and commitment fees, and less restrictive financial
covenants, including the relaxation of dividend restrictions and the removal of
security interests in the Company's U.S. assets.
The Company uses derivative financial instruments to manage its exposure
arising from changes in interest rates and currency exchange rates as part of
its asset and liability management program. These derivative financial
instruments include interest rate swaps, interest rate caps, forward interest
rate contracts, and currency exchange agreements. The Company does not use
derivative financial instruments for trading purposes.
Due to changing interest rates, interest rate derivatives are used to stabilize
interest margins. The Company hedges borrowings denominated in currencies other
than the borrowers' local currency. Forward interest rate contracts are used to
manage exposure to fluctuations in funding costs for anticipated
securitizations of retail receivables.
5
ITEM 1. BUSINESS - continued
The Company's outstanding debt at December 31, in each of the five most recent
years was as follows:
1994 1993 1992 1991 1990
(in millions of dollars)
Short-term notes
(primarily commercial paper) $ 4,315 $ 2,772 $ 352 $ 339 $ 1,114
Bank borrowings under
revolving credit facilities - - 5,924 6,633 6,241
Senior term debt 6,069 5,139 4,436 6,742 9,233
Subordinated term debt 27 77 585 949 1,686
Mexico borrowings and other 260 447 455 518 431
------- ------- ------- ------- -------
Total $10,671 $ 8,435 $11,752 $15,181 $18,705
======= ======= ======= ======= =======
ITEM 2. PROPERTIES
At December 31, 1994, the following facilities were utilized by the registrant
and its subsidiaries in conducting their businesses:
(a) executive offices of the registrant, Chrysler Credit Corporation,
Chrysler Insurance and certain other domestic subsidiaries of the
registrant in Southfield, Michigan;
(b) a total of 82 branches of Chrysler Credit located throughout the
United States;
(c) headquarters of Chrysler First Inc. in Allentown, Pennsylvania, and
a total of 3 offices of such corporation in the United States;
(d) headquarters of Chrysler Capital in Stamford, Connecticut;
(e) headquarters of Chrysler Realty in Troy, Michigan; and
(f) a total of 12 offices used as headquarters and branch offices in
Canada and Mexico.
All of the facilities described above were leased by the registrant.
At December 31, 1994, a total of 289 automobile dealership properties,
generally consisting of land and improvements, were owned by Chrysler Realty
and leased primarily to dealers franchised by Chrysler.
6
ITEM 3. LEGAL PROCEEDINGS
In the ordinary course of business, the registrant and its subsidiaries are
parties, either as plaintiff or defendant, in various legal proceedings which
are incidental to the business of such companies. The pending proceedings are
not other than ordinary routine litigation and are not deemed by the registrant
to be material with respect to the business of the registrant and its
subsidiaries taken as a whole.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
(Omitted in accordance with General Instruction J.)
7
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS
All of the outstanding common stock of the registrant, consisting of one class
of common stock, is owned by Chrysler.
ITEM 6. SELECTED FINANCIAL DATA
1994 1993 1992 1991 1990
(in millions of dollars)
Interest income and other
revenues $ 1,984 $ 2,039 $ 2,575 $ 3,221 $ 3,774
Earnings before cumulative
effect of changes in
accounting principles $ 195 $ 159 $ 180 $ 276 $ 313
Cumulative effect of changes
in accounting principles $ - $ (30) $ 51 $ - $ -
Net earnings $ 195 $ 129 $ 231 $ 276 $ 313
Total assets $16,648 $14,251 $17,585 $21,280 $24,702
Total debt $10,671 $ 8,435 $11,752 $15,181 $18,705
Cash dividends:
Preferred stock $ - $ - $ 1 $ 14 $ 38
Common stock $ 40 $ - $ - $ - $ 150
8
ITEM 7. MANAGEMENTS' DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Financial Condition
The Company's primary objective is to provide financing support for automotive
dealers and retail customers of Chrysler's products. Total assets increased
during 1994 for the first time since 1989 due to higher volumes of automotive
receivables acquired and lower levels of automotive retail receivable sales.
The Company paid $40 million in dividends to Chrysler during 1994, the first
such dividends paid since 1990.
During 1994, the rating agencies continued to raise their ratings of both the
Company's and Chrysler's debt securities. The Company's and Chrysler's debt
ratings have historically been linked.
The Company's portfolio of receivables managed, which includes receivables
owned and receivables serviced for others, totaled $32.9 billion at December
31, 1994, up from $28.3 billion and $30.1 billion at December 31, 1993 and
1992, respectively. The increase in receivables managed reflects higher volumes
of automotive receivables acquired, partially offset by continued liquidations
of nonautomotive finance receivables.
Receivables serviced for others primarily represent sold receivables which the
Company services for a fee. Receivables serviced for others totaled $20.1
billion at December 31, 1994, compared to $18.4 billion and $17.8 billion at
December 31, 1993 and 1992, respectively.
The Company's total allowance for credit losses, including receivables sold
subject to limited recourse provisions, totaled $512 million, $494 million, and
$573 million at December 31, 1994, 1993 and 1992, respectively. Nonearning
finance receivables, including receivables sold subject to limited recourse
provisions, declined to $282 million at year-end 1994 from $333 million at
year-end 1993. The total allowance for credit losses as a percentage of related
finance receivables managed was 1.66 percent, 1.78 percent and 1.94 percent at
December 31, 1994, 1993 and 1992, respectively. The decline in the allowance
for credit losses as a percentage of related finance receivables managed
reflects improvement in automotive credit loss experience.
Total assets at December 31, 1994 increased to $16.6 billion from $14.3 billion
at December 31, 1993. Total debt outstanding at December 31, 1994 was $10.7
billion compared to $8.4 billion at December 31, 1993. During 1994, the Company
raised $1.8 billion through term debt offerings. The Company's debt-to-equity
ratio increased to 3.3 to 1 at December 31, 1994 from 2.7 to 1 at December 31,
1993, reflecting increased use of term debt and commercial paper to fund the
Company's asset growth.
Results of Operations
Earnings before income taxes and cumulative effect of changes in accounting
principles for 1994 totaled $315 million, which compared to $267 million and
$295 million in 1993 and 1992, respectively. The increase in 1994 earnings
before income taxes and cumulative effect of changes in accounting principles
resulted from higher volumes of automotive financing, improved credit loss
experience and lower costs of bank facilities. The decline in 1993 earnings
before income taxes and cumulative effect of changes in accounting principles
from 1992 resulted largely from higher borrowing costs incurred under the
Company's former revolving credit agreements.
9
ITEM 7. MANAGEMENTS' DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Results of Operations (continued)
The Company's net earnings were $195 million, $129 million and $231 million in
1994, 1993 and 1992, respectively. Net earnings for 1993 included charges
totaling $30 million from the adoption of Statement of Financial Accounting
Standards ("SFAS") No. 106, "Employers' Accounting for Postretirement Benefits
Other Than Pensions," and SFAS No. 112, "Employers' Accounting for
Postemployment Benefits." Net earnings for 1992 included a $51 million
favorable adjustment from the adoption of SFAS No. 109, "Accounting for Income
Taxes."
Automotive financing volume totaled $70.4 billion in 1994, compared to $59.8
billion and $46.6 billion in 1993 and 1992, respectively. The increase in
automotive financing volume over the last two years was largely due to higher
amounts of wholesale financing provided to automotive dealers. Financing
support provided in the United States for new Chrysler vehicle retail
deliveries (including fleet), and wholesale vehicle sales to dealers and the
number of vehicles financed over the last three years were as follows:
Year Ended December 31,
1994 1993 1992
United States Penetration:
Retail 24% 25% 24%
Wholesale 73% 75% 69%
Number of New Chrysler Vehicles
Financed in the United States
(in thousands):
Retail 525 516 413
Wholesale 1,647 1,510 1,199
Automotive financing income totaled $1,078 million in 1994, compared with $989
million in 1993 and $1,098 million in 1992. The increase in automotive
financing income in 1994 from 1993 was primarily due to higher volumes of
automotive financing and increasing interest rates. Interest margin totaled
$627 million in 1993, down 32 percent from 1992 primarily due to the sales of
nonautomotive assets and higher effective costs of borrowings incurred under
the Company's bank facilities.
Interest income from the Company's nonautomotive financing operations totaled
$279 million in 1994, compared with $429 million in 1993 and $841 million in
1992. These nonautomotive financing operations had finance receivables
outstanding of $2.5 billion at December 31, 1994 compared with $2.8 billion at
December 31, 1993 and $5.3 billion at December 31, 1992. The decline in
nonautomotive interest income and finance receivables outstanding was a result
of the continued liquidation and downsizing of the Company's nonautomotive
operations over the last several years.
Service fee income was $247 million for the year ended December 31, 1994,
compared to $214 million and $209 million for the years ended December 31, 1993
and 1992, respectively. The increase in service fee income over the last
several years is due to higher levels of sold receivables which the Company
continues to service.
10
ITEM 7. MANAGEMENTS' DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS - continued
Results of Operations (continued)
Investment and other income totaled $243 million in 1994, compared to $279
million and $295 million for 1993 and 1992, respectively. The decline in
investment and other income was primarily due to lower gains on retail
receivable sales.
A comparison of borrowing costs is shown in the following table:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Interest expense $ 754 $ 791 $ 1,022
Average borrowings $ 9,407 $ 9,171 $13,096
Average effective cost
of borrowings 7.99% 8.62% 7.78%
The improvement in average effective borrowing costs from 1993 to 1994 reflects
lower bank facility costs and higher levels of commercial paper. The increase
in borrowing costs from 1992 to 1993 was primarily due to amortization of
up-front fees and costs associated with the Company's revolving credit
agreements, which were replaced in May 1994.
Operating expenses for 1994 totaled $497 million, compared to $463 million and
$595 million in 1993 and 1992, respectively. The decline in operating expenses
from 1992 to 1993 reflects the downsizing of nonautomotive operations.
Depreciation and other expenses totaled $106 million for 1994, compared with
$194 million in 1993 and $242 million in 1992. The decrease was a result of
1993 nonautomotive asset sales and the continued liquidation of nonautomotive
operations.
11
ITEM 7. MANAGEMENTS' DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS - continued
Results of Operations (continued)
Net credit loss experience, including net losses on receivables sold subject to
limited recourse provisions, for the years ended December 31, 1994, 1993 and
1992 was as follows:
Net Credit Losses
1994 1993 1992
(in millions of dollars)
Automotive financing $117 $109 $163
Nonautomotive financing 41 88 147
---- ---- ----
Total $158 $197 $310
==== ==== ====
Net Credit Losses to Average
Gross Receivables Outstanding
1994 1993 1992
Automotive financing 0.42% 0.44% 0.68%
Nonautomotive financing 1.05% 1.73% 1.50%
Total 0.50% 0.66% 0.92%
The Company's Mexican subsidiary, Chrysler Comercial S.A. de C.V. ("Chrysler
Comercial"), contributed $11 million, $18 million, and $15 million in 1994,
1993 and 1992, respectively to the Company's earnings before income taxes.
Chrysler Comercial's total assets were $433 million and $477 million at
December 31, 1994 and 1993, respectively. The economic uncertainty in Mexico
following the devaluation of the peso may have a negative impact on Chrysler
Comercial's retail and wholesale lending activities.
Certain U.S. dollar borrowings used to fund Mexican operations were hedged
against the peso with two major Mexican banks at December 31, 1994. If these
counterparties fail to perform, the Company would be exposed to a potential
loss (See "Note 12 -- Financial Instruments" in the Consolidated Financial
Statements).
Liquidity and Capital Resources
Term debt borrowings, commercial paper borrowings and receivable sales
represent the Company's primary funding sources. The Company raised $1.8
billion from term debt placements in 1994 and increased its commercial paper
outstanding by $1.5 billion during the year.
During the second quarter of 1994, the Company replaced its U.S. and Canadian
revolving credit and receivable sale agreements, which were originally
scheduled to expire in 1995. The new agreements provide for lower total
commitments, reductions in borrowing spreads and commitment fees and less
restrictive financial covenants, including the relaxation of dividend
restrictions and the removal of security interests in the Company's U.S.
assets. These agreements contain covenants which, among other restrictions,
require the Company to maintain a minimum net worth of $1.5 billion.
12
ITEM 7. MANAGEMENTS' DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS - continued
Liquidity and Capital Resources (continued)
At December 31, 1994, the Company's credit facilities consist of $4.6 billion
of U.S. and $.6 billion of Canadian credit facilities which expire in May 1998.
The Company's automotive receivables sale agreements consist of a $1.5 billion
U.S. agreement (of which $.5 billion expires in May 1995, and $1.0 billion
expires in May 1998) and a $.2 billion Canadian agreement (of which $.1 billion
expires in May 1995, and $.1 billion expires in May 1998). As of December 31,
1994 no amounts were outstanding under the Company's revolving credit or
receivable sale agreements.
Receivable sales continued to be a significant source of funding during 1994 as
the Company realized $6.4 billion of net proceeds from sales of automotive
retail receivables, compared to $7.8 billion for the year ended December 31,
1993. In addition, revolving wholesale receivable sale arrangements provided
funding which aggregated $3.8 billion and $4.6 billion at December 31, 1994 and
1993, respectively.
As of December 31, 1994, the Company had contractual debt maturities of $5.1
billion in 1995 (including $4.3 billion of short-term notes), $1.7 billion in
1996, $.7 billion in 1997, $1.0 billion in 1998, $1.2 billion in 1999, and $1.0
billion in years thereafter.
During 1993 and 1992, the Company realized $3.3 billion in aggregate cash
proceeds from the sales of nonautomotive assets.
The Company believes that cash provided by operations, the issuance of term
debt and commercial paper and sales of receivables will be sufficient to enable
it to meet its funding requirements.
New Accounting Standards
In May 1993, the Financial Accounting Standards Board ("FASB") issued SFAS No.
114, "Accounting by Creditors for Impairment of a Loan," which amends SFAS No.
5, "Accounting for Contingencies," by requiring creditors to evaluate the
collectibility of both contractual interest and principal of receivables when
evaluating the need for a loss accrual. In October 1994, the FASB issued SFAS
No. 118, "Accounting by Creditors for Impairment of a Loan - Income
Recognition," which amends SFAS No. 114 to clarify the standard's income
recognition provisions. The Company will adopt these new standards effective
January 1, 1995. The Company does not expect the implementation of these
standards to materially impact its results of operations or financial position.
13
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Chrysler Financial Corporation and Subsidiaries
Consolidated Statement of Net Earnings
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Interest income (Notes 1, 2 and 10):
Automotive financing:
Retail $ 555 $ 526 $ 669
Wholesale and other 523 463 429
Nonautomotive financing 279 429 841
Total interest income 1,357 1,418 1,939
Interest expense (Note 5) (754) (791) (1,022)
Interest margin 603 627 917
Other revenues:
Servicing fee income 247 214 209
Insurance premiums earned (Note 6) 137 128 132
Investment and other income (Notes 3 and 4) 243 279 295
Interest margin and other revenues 1,230 1,248 1,553
Costs and expenses:
Operating expenses 497 463 595
Provision for credit losses (Notes 1 and 2) 203 216 309
Insurance losses and adjustment expenses (Note 6) 109 108 112
Depreciation and other expenses 106 194 242
Total costs and expenses 915 981 1,258
Earnings before income taxes and cumulative
effect of changes in accounting principles 315 267 295
Provision for income taxes (Note 7) 120 108 115
Earnings before cumulative effect of changes
in accounting principles 195 159 180
Cumulative effect of changes in accounting
principles (Notes 7 and 11) -- (30) 51
Net Earnings $ 195 $ 129 $ 231
<FN>
See Notes to Consolidated Financial Statements.
14
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Chrysler Financial Corporation and Subsidiaries
Consolidated Balance Sheet
December 31,
1994 1993
(in millions of dollars)
Assets (Note 1):
Finance receivables - net (Note 2) $12,553 $ 9,626
Retained interests in sold receivables and other
related amounts - net (Notes 2 and 3) 2,251 2,620
Total finance receivables and retained interests - net 14,804 12,246
Cash and cash equivalents (Note 4) 174 265
Marketable securities (Note 4) 583 348
Dealership properties leased - net 407 423
Equipment leased to others - net 104 176
Repossessed collateral 162 269
Amounts due from affiliated companies (Note 10) 66 --
Other assets 348 524
Total Assets $16,648 $14,251
Liabilities (Note 1):
Debt (Note 5) $10,671 $ 8,435
Accounts payable, accrued expenses and other 1,155 1,147
Amounts due to affiliated companies (Note 10) -- 24
Deferred income taxes (Note 7) 1,549 1,514
Total Liabilities 13,375 11,120
Commitments and contingent liabilities (Notes 3 and 8)
Shareholder's Investment (Note 9):
Common stock - par value $100 per share:
Authorized, issued and outstanding 250,000 shares 25 25
Additional paid-in capital 1,168 1,168
Retained earnings 2,080 1,938
Total Shareholder's Investment 3,273 3,131
Total Liabilities and Shareholder's Investment $16,648 $14,251
<FN>
See Notes to Consolidated Financial Statements.
15
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Chrysler Financial Corporation and Subsidiaries
Consolidated Statement of Cash Flows
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Cash Flows From Operating Activities:
Net earnings $ 195 $ 129 $ 231
Adjustments to reconcile net earnings to
net cash provided by operating activities:
Cumulative effect of changes in accounting
principles -- 30 (51)
Net gains from receivable sales (59) (127) (146)
Provision for credit losses 203 216 309
Depreciation, amortization and
write-off of intangibles 72 118 184
Change in deferred income taxes and income
taxes payable 42 35 (71)
Change in amounts due affiliates (82) (19) 102
Change in accounts payable, accrued
expenses and other 150 (143) (284)
Net cash provided by operating activities 521 239 274
Cash Flows From Investing Activities:
Acquisitions of finance receivables (66,477) (58,034) (48,990)
Collections of finance receivables 27,726 22,225 22,549
Purchases of marketable securities (Note 1) (2,013) (1,551) (3,896)
Sales and maturities of marketable securities 2,056 1,536 3,861
Proceeds from sales of nonautomotive assets -- 2,375 903
Proceeds from sales of receivables 35,887 36,049 28,600
Other 21 300 115
Net cash (used in) provided by investing activities (2,800) 2,900 3,142
Cash Flows From Financing Activities:
Change in short-term notes and affiliated borrowings 1,535 2,428 13
Borrowings under revolving credit facilities:
Proceeds -- 4,792 43,917
Payments -- (10,716) (44,626)
Proceeds from issuance of term debt 1,762 2,305 400
Repayment of term debt (882) (2,108) (3,189)
Payment of dividends (40) -- --
Redemption of preferred stock -- -- (75)
Other (187) (8) 55
Net cash provided by (used in) financing activities 2,188 (3,307) (3,505)
Change in cash and cash equivalents (91) (168) (89)
Cash and cash equivalents at beginning of year 265 433 522
Cash and Cash Equivalents at End of Year $ 174 $ 265 $ 433
<FN>
See Notes to Consolidated Financial Statements.
16
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Chrysler Financial Corporation and Subsidiaries
Notes to Consolidated Financial Statements
Note 1 - Summary of Significant Accounting Policies
Principles of Consolidation
The consolidated financial statements include the accounts of Chrysler
Financial Corporation and its domestic and foreign subsidiaries (the
"Company"). All significant intercompany accounts and transactions have been
eliminated in consolidation. All of the Company's common shares are owned by
Chrysler Corporation (together with its subsidiaries, "Chrysler"). Amounts for
prior years have been reclassified to conform with current year's
classifications.
Receivable Sales
The Company sells significant amounts of automotive receivables in transactions
subject to limited recourse provisions. The Company generally sells its
receivables to a trust and remains as servicer for which it is paid a servicing
fee. Normal servicing fees are earned on a level yield basis over the remaining
terms of the related sold finance receivables. In a subordinated capacity, the
Company retains excess servicing cash flows, a limited interest in the
principal balances of the sold receivables and certain cash deposits provided
as credit enhancements for investors.
Gains or losses from the sales of retail receivables are recognized in the
period in which such sales occur. In determining the gain or loss for each
qualifying sale of retail receivables, the investment in the sold receivable
pool is allocated between the portion sold and the portion retained based on
their relative fair values on the date of sale. Gains or losses are reflected
in the consolidated statement of net earnings under the caption "Investment and
other income." Gains on sales of wholesale receivables are not material.
Income Recognition
Interest income from finance receivables is recognized using the interest
method. Lending fees and certain direct loan origination costs are deferred and
amortized to interest income using the interest method over the contractual
terms of the finance receivables. Interest accrued on finance receivables at
the balance sheet date is included in the consolidated balance sheet caption
"Finance Receivables - net."
Recognition of interest income is generally suspended when a loan becomes
contractually delinquent for periods ranging from 60 to 90 days. Income
recognition is resumed when the loan becomes contractually current, at which
time all past due interest income is recognized.
Property and casualty premiums are earned on a straight-line basis over the
term of the respective policies.
17
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 1 - Summary of Significant Accounting Policies - continued
Lease Transactions
Leasing operations consist of direct finance leases of vehicles and other
equipment, leveraged leases of major equipment and real estate, and operating
leases, all of which are accounted for in accordance with the classification of
the leases. The related revenue is recorded as interest income. Dealership
properties leased to others are stated at cost less accumulated depreciation of
$120 million and $116 million at December 31, 1994 and 1993, respectively.
Equipment leased to others is stated at cost less accumulated depreciation of
$89 million and $164 million at December 31, 1994 and 1993, respectively.
Allowance for Credit Losses
An allowance for credit losses is generally established during the period in
which receivables are acquired. The allowance for credit losses is maintained
at a level deemed appropriate, based primarily on loss experience. Other
factors affecting collectibility are also evaluated, and appropriate
adjustments are recorded. Retail automotive receivables not supported by a
dealer guaranty are charged to the allowance for credit losses net of the
estimated value of repossessed collateral at the time of repossession.
Nonautomotive finance receivables are reduced to the estimated fair value of
collateral when loans are deemed to be impaired.
In May 1993, the Financial Accounting Standards Board ("FASB") issued Statement
of Financial Accounting Standards ("SFAS") No. 114, "Accounting by Creditors
for Impairment of a Loan," effective for fiscal years beginning after December
15, 1994. In October 1994, the FASB issued SFAS No. 118, "Accounting by
Creditors for Impairment of a Loan - Income Recognition and Disclosures," as an
amendment to SFAS No. 114. These new accounting standards require creditors to
evaluate the collectibility of both contractual interest and principal of
receivables when assessing the need for a loss accrual. The Company will adopt
these standards effective January 1, 1995. Adoption of these standards is not
expected to have a material impact upon the Company's results of operations or
financial position.
Cash Equivalents
Temporary investments of excess borrowed funds with a maturity of less than
three months when purchased are considered to be cash equivalents.
Marketable Securities
Effective January 1, 1994, the Company adopted SFAS No. 115, "Accounting for
Certain Investments in Debt and Equity Securities." Under SFAS No. 115, the
Company's debt and equity securities are classified as either
available-for-sale or held-to-maturity. The Company does not hold debt or
equity securities for trading. Available-for-sale securities are reported at
fair value. Changes in the fair value of available-for-sale securities are
recorded as an adjustment to retained earnings, net of applicable deferred
taxes. Held-to-maturity securities are carried at cost adjusted for amortized
premium or discount. On January 1, 1994, the adjustment of available-for-sale
securities to market value resulted in a $6 million increase to retained
earnings. The adjustment at December 31, 1994 resulted in a $13 million
decrease to retained earnings. Prior to the adoption of SFAS No. 115,
marketable securities were carried at cost, adjusted for amortized premium or
discount on bonds, plus accrued interest. The Company determines realized gains
and losses on securities using the specific identification method.
During 1994 the Company acquired $300 million of marketable securities in a
non-cash transaction relating to the securitization of retail receivables.
18
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 1 - Summary of Significant Accounting Policies - continued
Repossessed Collateral
Repossessed collateral is carried at the lower of fair value less estimated
selling expenses, or cost. Repossessed collateral carrying costs and gains or
losses from disposition of such assets are recognized in the period incurred.
Real estate owned is carried at the lower of fair value less estimated selling
expenses or cost. Fair value of real estate owned is determined by appraisal.
Other factors affecting collectibility are also evaluated, and appropriate
adjustments are recorded.
Term Debt and Revolving Credit Fees and Costs
Term debt commissions and expenses are amortized over the life of the related
debt issue in relation to the outstanding principal balances. Up-front fees and
costs incurred in connection with revolving credit facilities are deferred and
amortized over the expected term of the facilities.
Derivative Financial Instruments
During 1994, the Company adopted SFAS No. 119, "Disclosure About Derivative
Financial Instruments and Fair Value of Financial Instruments." The Company
uses derivative financial instruments to manage its exposure arising from
changes in interest rates and currency exchange rates as part of its asset and
liability management program. These derivative financial instruments include
interest rate swaps, interest rate caps, forward interest rate contracts, and
currency exchange agreements. The Company does not use derivative financial
instruments for trading purposes.
Due to changing interest rates, interest rate derivatives are used to stabilize
interest margins. Interest differentials resulting from interest rate swap
agreements are recorded on an accrual basis as an adjustment to interest
expense.
The Company hedges against borrowings denominated in currencies other than the
borrowers' local currency. Such borrowings are translated in the financial
statements at the rates of exchange established under the related currency
exchange agreements.
Forward interest rate contracts are used to manage exposure to fluctuations in
funding costs for anticipated securitizations of retail receivables. Unrealized
gains or losses on forward interest rate contracts that qualify for hedge
accounting treatment are deferred. Unrealized gains or losses on forward
interest rate contracts that do not qualify for hedge accounting treatment are
included in other income. No such amounts were recorded in 1994. Realized gains
or losses are included in the determination of the gain or loss from the
related sale of retail receivables.
Gains or losses on early terminations of derivative financial instruments that
modify the interest rate characteristics of debt are deferred and amortized as
adjustments to interest expense over the remaining term of the related
borrowing.
Income Taxes
Chrysler Financial Corporation and its U.S. subsidiaries are included in
Chrysler's consolidated U.S. income tax returns. The Company's provision for
income taxes is determined on a separate return basis. Under the Tax Sharing
Agreement between the Company and Chrysler, U.S. income taxes have been
settled substantially without regard to alternative minimum tax or limitations
on utilization of net operating losses and foreign tax credits.
19
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 2 - Finance Receivables and Retained Interests - Net
Outstanding balances of "Finance receivables - net" were as follows:
December 31,
1994 1993
(in millions of dollars)
Automotive:
Retail $ 4,982 $ 3,536
Wholesale and other (Note 10) 3,113 2,520
Retained senior interests in sold wholesale receivables* 2,173 967
Total automotive 10,268 7,023
Nonautomotive:
Leveraged leases 1,545 1,559
Other commercial 955 1,244
Total nonautomotive 2,500 2,803
Total finance receivables 12,768 9,826
Less allowance for credit losses (215) (200)
Total finance receivables - net $ 12,553 $ 9,626
<FN>
* Represents receivables held in trust eligible to be securitized or
returned to the Company.
The Company's retained interests in sold receivables and other related amounts
are generally restricted and subject to limited recourse provisions. The
following is a summary of amounts included in "Retained interests in sold
receivables and other related amounts - net":
December 31,
1994 1993
(in millions of dollars)
Cash and investments $ 669 $ 586
Subordinated interests in receivables 1,475 1,783
Excess servicing 135 200
Other restricted and securitized assets 269 345
Less allowance for credit losses (297) (294)
Total retained interests in sold receivables
and other related amounts - net $ 2,251 $ 2,620
Changes in the allowance for credit losses, including receivables sold subject
to limited recourse provisions, were as follows:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Balance at beginning of year $ 494 $ 573 $ 557
Provision for credit losses 203 216 309
Net credit losses (158) (197) (310)
Transfers related to nonautomotive asset sales -- (79) --
Other adjustments (27) (19) 17
Balance at end of year $ 512 $ 494 $ 573
20
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 2 - Finance Receivables and Retained Interests - Net - continued
Nonearning finance receivables, including receivables sold subject to limited
recourse, totaled $282 million and $333 million, at year-end 1994 and 1993,
respectively, which represented 0.9 percent and 1.2 percent of such receivables
outstanding, respectively.
Contractual maturities of total finance receivables at December 31, 1994 were
as follows:
Automotive Nonautomotive Total
(in millions of dollars)
Past due installments $ 40 $ 26 $ 66
Due in year ending December 31:
1995 7,137 245 7,382
1996 1,170 201 1,371
1997 860 248 1,108
1998 647 215 862
1999 370 179 549
Thereafter 44 1,386 1,430
Total finance receivables $ 10,268 $2,500 12,768
Less allowance for credit losses (215)
Total finance receivables - net $12,553
Actual cash flow experience will vary from contractual cash flows due to future
receivable sales and prepayments.
The Company's investment in automotive and nonautomotive direct financing
leases included in "Finance receivables - net" was as follows:
December 31,
1994 1993
(in millions of dollars)
Aggregate future lease payments $ 408 $ 403
Estimated residual values 184 186
Less unearned income (139) (173)
Net investment in direct financing leases $ 453 $ 416
The Company's investment in leveraged leases included in "Finance receivables -
net" and related deferred income taxes was as follows:
December 31,
1994 1993
(in millions of dollars)
Rentals receivable (net of principal
and interest on non-recourse debt) $ 1,401 $ 1,425
Estimated residual values 827 834
Less: Unearned income (588) (604)
Deferred investment tax credits (95) (96)
Net receivable 1,545 1,559
Less deferred income taxes (1,414) (1,377)
Net investment in leveraged leases $ 131 $ 182
The Company revised its calculations of leveraged lease cash flows to adjust
for the enacted tax rate increase in 1993. This change increased 1993 earnings
before income taxes by $9 million and increased the provision for income taxes
by $20 million, primarily due to the adjustment of the associated net deferred
tax liabilities (see Note 7 - Income Taxes).
21
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 3 - Sales of Receivables
The Company sells receivables subject to limited recourse provisions.
Outstanding balances of sold finance receivables, excluding retained senior
interests in sold wholesale receivables, were as follows:
December 31,
1994 1993
(in millions of dollars)
Automotive:
Retail $12,464 $12,027
Wholesale 5,416 5,389
Nonautomotive 275 449
Total $18,155 $17,865
Gains or losses from the sales of retail receivables are recognized in the
period in which such sales occur. Provisions for expected credit losses are
generally provided during the period in which such receivables are acquired.
Since the allowance for credit losses is separately provided prior to the
receivable sales, gains from receivable sales are not reduced for expected
credit losses. Included in "Investment and other income" are net gains before
expected credit losses totaling $59 million, $127 million and $146 million for
the years ended December 31, 1994, 1993 and 1992, respectively. The provision
for credit losses related to such sales amounted to $130 million, $135 million
and $137 million for the years ended December 31, 1994, 1993 and 1992,
respectively.
The Company is committed to sell all wholesale receivables related to certain
dealer accounts.
Note 4 - Securities
Contractual maturities of marketable debt securities at December 31, 1994 were
as follows:
Available-for-sale Held-to-maturity
securities securities
------------------ ----------------
Fair Fair
Cost Value Cost Value
---- ----- ---- -----
(in millions of dollars)
Within one year $ 29 $ 29 $247 $247
After one year through five years 129 125 1 1
After five years through ten years 48 45 1 1
After ten years 118 106 19 19
Total $324 $305 $268 $268
The proceeds from sales of available-for-sale securities for the year ended
December 31, 1994, were $1.6 billion. The related gross realized gains and
losses were immaterial.
22
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 4 - Securities - continued
Information with respect to the Company's portfolio of securities, which
includes investments classified as marketable securities and cash equivalents
was as follows:
December 31, January 1,
1994 1994
------------------------------------- -------------
Gross Unrealized
Fair ---------------- Fair
Cost Value Gains Losses Cost Value
---- ----- ----- ------ ---- -----
(in millions of dollars)
Available-for-sale securities:
Bonds - Corporate/Public Utility $112 $107 $ 1 $ 6 $ 95 $ 99
State/Municipal 11 9 -- 2 8 8
Government securities -
United States and Canada 184 172 -- 12 169 171
Preferred stocks 11 10 -- 1 9 9
Short-term notes 17 17 -- -- 26 26
Total available-for-sale securities 335 315 $ 1 $ 21 307 313
Excess of cost over fair value (20) n/a
Available-for-sale securities 315 315 307 313
Held-to-maturity securities:
Bonds - Corporate/Public Utility 1 1 5 5
State/Municipal 5 5 6 6
Government securities -
United States and Canada 16 16 30 31
Asset-backed securities* 246 246 - -
Total held-to-maturity securities 268 268 41 42
Total Marketable securities 583 583 348 355
Cash equivalents 37 37 138 138
Total securities $620 $620 $486 $493
<FN>
* Money market notes purchased from trusts established in connection with the
Company's securitization of retail receivables.
Note 5 - Debt
Average effective cost of borrowings was as follows:
Year Ended December 31,
-------------------------------------------------------------
1994 1993
----------------------------- ----------------------------
Short-term Term Total Short-term Term Total
Notes Debt Debt Notes Debt Debt
---------- ---- ------ ---------- ---- -----
Average effective cost of borrowings:
United States operations 5.5% 7.2% 7.4% 4.7% 8.0% 8.0%
Consolidated operations 5.5% 8.1% 8.0% 4.7% 8.8% 8.6%
23
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 5 - Debt - continued
Debt outstanding at December 31, 1994 and 1993 was as follows:
Weighted Average
Interest Rates* at December 31,
Maturity December 31, 1994 1994 1993
(in millions of dollars)
Short-term notes placed primarily in the
open market:
United States $ 3,901 $ 2,513
Canada 414 259
Total short-term notes (primarily
commercial paper) 6.0% 4,315 2,772
Senior term debt:
United States, due
1994 -- 813
1995 6.3% 574 574
1996 6.7% 1,602 1,053
1997 6.2% 653 197
1998 6.3% 943 696
1999 9.4% 1,227 797
Thereafter 7.3% 994 969
Total United States 5,993 5,099
Canada, due 1994-1998 10.0% 78 42
Less unamortized discount 2 2
Total senior term debt 6,069 5,139
Subordinated term debt - United States:
Senior, due 1994-1995 8.3% 27 77
Mexico borrowings and other 260 447
Total debt $10,671 $ 8,435
<FN>
* The weighted average interest rates, including the effects of interest rate
exchange agreements, have been calculated on the basis of rates in effect at
December 31, 1994 including $1,184 million of variable rate senior term debt.
Interest paid by the Company for the years ended December 31, 1994, 1993 and
1992 amounted to $733 million, $847 million and $1,250 million, respectively.
The Company has contractual debt maturities of $5.1 billion in 1995 (including
$4.3 billion of short-term notes), $1.7 billion in 1996, $.7 billion in 1997,
$1.0 billion in 1998, $1.2 billion in 1999 and $1.0 billion in years
thereafter. Short-term notes outstanding at December 31, 1994 had an average
remaining term of 31 days.
The Company manages its exposure arising from changes in interest rates and
currency exchange rates by utilizing derivative financial instruments. These
derivative financial instruments include interest rate swaps, interest rate
caps, forward interest rate contracts, and currency exchange agreements (see
Note 12 - Financial Instruments).
24
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 5 - Debt - continued
Credit Facilities
During 1994, the Company replaced its revolving credit and receivable sale
agreements which were originally scheduled to expire in 1995. The Company's
current credit facilities, which expire in 1998, consist of $4.6 billion of
U.S. and $.6 billion of Canadian credit facilities. The Company's automotive
receivable sale agreements consist of a $1.5 billion U.S. agreement (of which
$.5 billion expires in 1995, and $1.0 billion expires in 1998) and a $.2
billion Canadian agreement (of which $.1 billion expires in 1995, and $.1
billion expires in 1998). These agreements contain restrictive covenants,
which, among other things, require the Company to maintain a minimum net worth
of $1.5 billion. As of December 31, 1994, no amounts were outstanding under the
Company's revolving credit or receivable sale agreements.
Note 6 - Reinsurance Arrangements and Reserves
The Company enters into various reinsurance contracts with other insurance
enterprises or reinsurers to reduce the losses that may arise from catastrophes
or other events. Reinsurance contracts do not relieve the Company from its
obligations to policyholders. Failure of reinsurers to fulfill their
obligations could result in losses to the Company.
The amounts reported as "Insurance premiums earned" are net of related ceded
reinsurance premiums of $40 million, $46 million and $36 million for the years
ended December 31, 1994, 1993 and 1992, respectively. Amounts reported as
"Insurance losses and adjustment expenses" are net of related reinsurance loss
and loss adjustment expenses of $28 million, $38 million and $35 million for
the years ended December 31, 1994, 1993 and 1992, respectively.
Included in "Accounts payable, accrued expenses and other" are net unearned
insurance premiums and net reserves for insurance losses and adjustment
expenses as follows:
December 31,
1994 1993
(in millions of dollars)
Direct and assumed unearned premiums $ 68 $ 69
Reinsurance ceded (8) (9)
Net unearned premiums $ 60 $ 60
Direct and assumed reserve for insurance losses
and adjustment expenses $ 225 $ 221
Reinsurance ceded (44) (48)
Net reserve for insurance losses and adjustment expenses $ 181 $ 173
25
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 6 - Reinsurance Arrangements and Reserves - continued
Changes in the net reserve for unpaid losses and loss adjustment expenses net
of reinsurance, salvage and subrogation for Chrysler Insurance Company's
property and casualty operations were as follows:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Balance at beginning of year (net of reinsurance
ceded of $47 million, $38 million and
$29 million) $ 166 $ 142 $117
Incurred related to:
Current year 115 113 98
Prior years (8) (11) 3
Total incurred 107 102 101
Paid related to:
Current year (42) (37) (35)
Prior years (54) (41) (41)
Total paid (96) (78) (76)
Balance at end of year (net of reinsurance
ceded of $44 million, $47 million and
$38 million) $ 177 $ 166 $142
Note 7 - Income Taxes
Chrysler Financial Corporation and its U.S. subsidiaries are included in
Chrysler's consolidated U.S. income tax returns. The Company's provision
for income taxes is determined on a separate return basis. Under the Tax
Sharing Agreement between the Company and Chrysler, U.S. income
taxes have been settled substantially without regard to alternative minimum
tax or limitations on utilization of net operating losses and foreign tax
credits.
The provision for income taxes in the consolidated statement of net earnings
includes the following:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Current tax expense:
United States $ 86 $ 61 $ 130
State and local 10 3 6
Foreign 22 13 20
Total current tax expense 118 77 156
Deferred tax expense (credit):
United States (8) (2) (43)
State and local 11 11 5
Foreign (1) -- (3)
Total deferred tax expense (credit) 2 9 (41)
Effect of restating deferred taxes for
enacted U.S. tax rate increase including
leveraged leases (Note 2) -- 22 --
Total provision for income taxes $ 120 $ 108 $ 115
26
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 7 - Income Taxes - continued
Effective January 1, 1992, the Company adopted SFAS No. 109, "Accounting for
Income Taxes," which resulted in a favorable cumulative effect of the change in
accounting principle of $51 million.
Income taxes paid by the Company for the years ended December 31, 1994, 1993
and 1992 amounted to $27 million, $82 million and $172 million, respectively.
Included in these amounts are taxes paid (net of refunds) to Chrysler under the
Tax Sharing Agreement of $15 million, $63 million and $141 million, in 1994,
1993 and 1992, respectively.
The provision for income taxes differs from the amount of income tax determined
by applying the U.S. statutory income tax rate to earnings before income taxes
and cumulative effect of changes in accounting principles, as follows:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Tax at U.S. statutory rate $ 110 $ 93 $ 101
State and local income taxes 14 9 7
Amortization of investment tax credits (1) (2) (5)
Income not subject to taxes (2) (2) (4)
Purchase accounting adjustments 2 (5) 19
Leveraged lease rate adjustments (6) (8) (5)
Rate adjustment of U.S. deferred tax assets
and liabilities -- 22 --
Other 3 1 2
Total provision for income taxes $ 120 $ 108 $ 115
Effective tax rate 38.1% 40.5% 39.0%
Statutory tax rate 35.0% 35.0% 34.0%
The tax-effected temporary differences which comprise deferred tax assets and
liabilities were as follows:
December 31, 1994 December 31, 1993
----------------------- -----------------------
Deferred Deferred Deferred Deferred
Tax Tax Tax Tax
Assets Liabilities Assets Liabilities
--------- ----------- --------- -----------
(in millions of dollars)
Provision for losses $178 $ -- $161 $ --
Leasing transactions -- 1,654 -- 1,611
State and local taxes -- 100 -- 85
Postretirement benefits other
than pensions 17 -- 17 --
Other 83 73 62 58
Total $278 $1,827 $240 $1,754
27
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 8 - Commitments and Contingent Liabilities
Various legal actions are pending against Chrysler Financial Corporation and
certain of its subsidiaries, some of which seek damages in large or unspecified
amounts and other relief. The Company believes each proceeding constitutes
routine litigation encountered in the normal course of business. Although the
ultimate amount of liability with respect to such matters cannot be determined
at December 31, 1994, the Company has established reserves which it believes
will be sufficient to cover these matters. After giving effect to these
reserves, management believes the ultimate resolution of these matters will not
have a material adverse effect on the Company's financial position.
The Company is obligated under terms of noncancelable operating leases for the
majority of its office facilities and equipment, as well as for a number of
dealership facilities which are subleased to Chrysler-authorized automotive
dealers. These leases are generally renewable and provide that certain expenses
related to the properties are to be paid by the lessee.
Future minimum lease commitments under the aforementioned leases with remaining
terms in excess of one year are as follows:
Year Ending December 31, (in millions of dollars)
1995 $ 45
1996 41
1997 36
1998 29
1999 23
Thereafter 85
Total $259
Future minimum lease commitments have not been reduced by minimum sublease
rentals of $185 million due in the future under noncancelable subleases.
Rental expense for operating leases for the years ended December 31, 1994, 1993
and 1992 was $53 million, $58 million and $69 million, respectively. Sublease
rentals of $42 million were received in 1994, 1993 and 1992.
The Company is contingently liable for guarantees totaling $113 million at
December 31, 1994 provided in connection with an automotive receivable funding
arrangement.
28
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 9 - Shareholder's Investment
Shareholder's Investment is summarized as follows:
Additional Total
Preferred Common Paid-in Retained Shareholder's
Stock Stock Capital Earnings Investment
(in millions of dollars)
Balance - December 31, 1991 $ 75 $ 25 $ 1,168 $ 1,574 $ 2,842
Net earnings -- -- -- 231 231
Preferred stock redeemed (75) -- -- -- (75)
Preferred stock dividends -- -- -- (1) (1)
Minimum pension liability
in excess of unrecognized
prior service cost -- -- -- 1 1
Balance - December 31, 1992 -- 25 1,168 1,805 2,998
Net earnings -- -- -- 129 129
Minimum pension liability
in excess of unrecognized
prior service cost -- -- -- 4 4
Balance - December 31, 1993 -- 25 1,168 1,938 3,131
Net earnings -- -- -- 195 195
Common stock dividends -- -- -- (40) (40)
Net unrealized holding losses
on securities -- -- -- (13) (13)
Balance - December 31, 1994 $ -- $ 25 $ 1,168 $ 2,080 $ 3,273
Note 10 - Transactions with Affiliates
Since 1968, the Company has had an Income Maintenance Agreement with Chrysler.
The agreement provides for payments to maintain the Company's required coverage
of earnings available for fixed charges at 110 percent. No payments were
required pursuant to the Income Maintenance Agreement for 1994, 1993 or 1992.
Gains and losses from translating assets and liabilities outside the United
States to U.S. dollar equivalents are credited or charged to Chrysler in
accordance with an agreement indemnifying the Company against losses incurred
as a result of foreign risks. Pursuant to this agreement Chrysler was charged
$24 million in 1994, $10 million in 1993 and $20 million in 1992.
During 1994, the Company had short-term borrowings aggregating $425 million
from Chrysler. The Company repaid $150 million of these borrowings, including
interest, during the year. In addition, the Company loaned a total of $375
million to Chrysler in 1994. Chrysler repaid $100 million of these loans,
including interest, to the Company during the year.
29
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 10 - Transactions with Affiliates - continued
During 1993, the Company had short-term borrowings aggregating $500 million
from Chrysler. All of these borrowings, including $11 million of interest
expense, were repaid during 1993.
Certain business arrangements exist providing for guarantees from Chrysler to
the Company. Pursuant to these arrangements the Company received $1 million, $8
million and $56 million in 1994, 1993 and 1992, respectively.
Pursuant to an agreement between Chrysler and Chrysler Realty Corporation, the
Company received fees of $22 million in 1994, $25 million in 1993 and $28
million in 1992. These fees include charges for administrative services
rendered in the management of dealership land and facilities, reimbursement of
holding costs on vacant facilities, reimbursement of charges by the Company to
dealer tenants for rent in amounts less than the Company pays as rent on
certain leased facilities and for rent in amounts less than current market rent
on certain owned facilities.
The Company provides financing related to programs sponsored by Chrysler for
the sale and lease of Chrysler vehicles. Under these programs, interest rate
differentials received from Chrysler are earned on a level yield basis over the
term of the receivables, or if the related receivables are sold, unearned
amounts are included in the calculation of gains or losses from the sale of
retail receivables. In addition, the Company provides secured financing to
Chrysler in the normal course of business. At December 31, 1994, $2,185 million
was outstanding under these agreements compared to $1,866 million at December
31, 1993.
Note 11 - Employee Benefit Plans
The Company's retirement programs include pension plans providing
noncontributory benefits and contributory benefits. The noncontributory pension
plans cover substantially all employees of Chrysler Financial Corporation and
certain of its consolidated subsidiaries.
Chrysler Financial Corporation and certain of its consolidated subsidiaries
provide benefits based on a fixed rate for each year of service. Additionally,
contributory benefits and supplemental noncontributory benefits are provided to
substantially all salaried employees of Chrysler Financial Corporation and
certain of its consolidated subsidiaries under the Salaried Employees'
Retirement Plan. This plan provides contributory benefits based on the
employee's cumulative contributions and a supplemental noncontributory benefit
based on years of service and the employee's average salary during the
consecutive five years in which salary was highest in the fifteen years
preceding retirement. Net pension cost was $11 million for 1994, $7 million for
1993, and $8 million for 1992.
Annual payments to the pension trust fund for U.S. plans are in compliance with
the Employee Retirement Income Security Act ("ERISA") of 1974, as amended. All
pension trust fund assets and income accruing thereon are used solely to
administer the plan and pay pension benefits. Plan assets are invested in a
diversified portfolio that primarily consists of equity and debt securities. At
December 31, 1994, plan assets included 216,000 shares of Chrysler common stock
with a fair value of $11 million. Dividends received on the Chrysler common
stock totaled $201 thousand in 1994.
The Company provides health and life insurance benefits to substantially all of
its U.S. and Canadian employees. Upon retirement from the Company, employees
may become eligible for continuation of these benefits. However, benefits and
eligibility rules may be modified periodically. Effective January 1, 1993, the
Company adopted SFAS No. 106, "Employers' Accounting for Postretirement
Benefits Other Than Pensions" ("OPEB"), which requires the accrual of such
benefits during the years the employees provide services. The adoption of SFAS
No. 106
30
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 11 - Employee Benefit Plans - continued
resulted in an after-tax charge of $29 million in 1993, which represented the
immediate recognition of the OPEB transition obligation of $45 million,
partially offset by $16 million of estimated tax benefits. Implementation of
SFAS No. 106 did not increase the Company's cash expenditures for
postretirement benefits.
Effective January 1, 1993, the Company adopted SFAS No. 112, "Employers'
Accounting for Postemployment Benefits." The adoption of this accounting
standard resulted in the recognition of an after-tax charge of $1 million in
1993.
Note 12 - Financial Instruments
Derivative Financial Instruments
The Company manages its exposure arising from changes in interest rates and
currency exchange rates by utilizing derivative financial instruments. These
derivative financial instruments include interest rate swaps, interest rate
caps, forward interest rate contracts, and currency exchange agreements. The
Company manages exposure to counterparty credit risk by entering into
derivative financial instruments with major financial institutions that can be
expected to fully perform under the terms of such agreements. Notional amounts
are used to measure the volume of derivative financial instruments and do not
represent exposure to credit loss.
The Company does not use derivative financial instruments for trading purposes.
The Company enters into interest rate swap agreements to change the interest
rate characteristics of its debt. Interest rate caps are utilized to reduce
exposure to increases in interest rates.
Interest rate swaps related to term debt are matched with specific obligations.
Interest rate swaps are also utilized to hedge against exposure to interest
rate fluctuations on the anticipated issuances of commercial paper. Interest
rate swaps associated with commercial paper are matched with groups of such
obligations on a layered basis.
The Company also entered into a forward interest rate contract to manage its
exposure to fluctuations in funding costs for an anticipated securitization of
retail receivables during the first quarter of 1995. An unrealized gain of $1
million on the forward interest rate contract was deferred at December 31,
1994.
31
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 12 - Financial Instruments - continued
The impact of interest rate derivatives on interest expense was immaterial in
1994, 1993 and 1992.
The following table summarizes off-balance sheet interest rate derivatives and
related financial instruments as of December 31, 1994 and 1993:
Notional Amounts Outstanding
and Weighted Average Rates
Interest Rate Derivatives Variable Rate Maturing December 31,
and Related Financial Instruments Indices Through 1994 1993
(in millions of dollars)
Pay Fixed Interest Rate Swaps
Short-term notes 1998 $ 500 $ 527
Weighted avg. pay rate 9.09% 9.08%
Weighted avg. receive rate Money Market 5.98% 3.20%
Term notes 1995 $ 90 $ 190
Weighted avg. pay rate 9.44% 9.63%
Weighted avg. receive rate LIBOR 5.81% 3.40%
Receive Fixed Interest Rate Swaps
Term notes 2006 $ 126 $ 404
Weighted avg. pay rate LIBOR 5.84% 3.46%
Weighted avg. receive rate 9.41% 9.03%
Pay / Receive Variable Interest
Rate Swaps
Term notes 1999 $ 61 $ --
Weighted avg. pay rate LIBOR 6.16% --
Weighted avg. receive rate Treasury 6.89% --
Pay Fixed Interest Rate Caps
Retained Interests in
Sold Receivables 1995 $ 134 $ 403
Weighted avg. pay rate 0.04% 0.04%
Weighted avg. receive rate LIBOR 0.14% --
Forward Interest Rate Contract
Retained Interests in
Sold Receivables 1995 $ 500 $ --
Weighted avg. contract rate Treasury 7.70% --
Total Notional Amounts Outstanding $ 1,411 $ 1,524
The Company enters into currency exchange agreements to manage its exposure
arising from changing exchange rates related to specific funding transactions.
The Company hedges against borrowings denominated in currencies other than the
borrowers' local currency. The borrowings are translated in the financial
statements at the rates of exchange established under the related currency
exchange agreement. The reported amount of such currency borrowings was $734
million. If the Company had not entered into currency exchange agreements, the
recorded amount of debt would have been $220 million higher at December 31,
1994.
32
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 12 - Financial Instruments - continued
The following table summarizes the Company's portfolio of currency derivative
financial instruments as of December 31, 1994:
Currency - Net
Derivative Financial Currency Weighted Average Contract or Unrealized
Instrument Amount Maturity Interest Rate Notional Amount Gain
(in millions) (in millions of dollars)
Deutsche marks -
Fixed Rate
Senior Term Debt DM 500 1995-1997 7.11% $251 $ 79
Swiss francs -
Fixed Rate
Senior Term Debt SF 260 1996 7.26% 132 72
U.S. dollars (1) -
Fixed Rate
Short-term Notes US$ 78 1995 6.16% 78 2
Fixed Rate
Short-term Notes US$ 273 1995 6.57% 273 88
Total $734 $241
<FN>
(1) Amounts represent U.S. dollar funding for the Company's Canadian and
Mexican operations.
Fair Value of Financial Instruments
The following disclosure of the estimated fair value of financial instruments
is made in accordance with the requirements of SFAS No. 107, "Disclosures about
Fair Value of Financial Instruments," as amended by SFAS No. 119, "Disclosures
about Derivative Financial Instruments and Fair Value of Financial
Instruments." The estimated fair value amounts have been determined by the
Company using available market information and valuation methodologies as
described below. However, considerable judgment is required in interpreting
market data to develop the estimates of fair value. Accordingly, the estimates
presented herein are not necessarily indicative of the amounts that the Company
could realize in a current market exchange. The use of different market
assumptions or valuation methodologies may have a material effect on the
estimated fair value amounts.
33
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 12 - Financial Instruments - continued
The carrying amounts and estimated fair values of the Company's financial
instruments were as follows:
December 31, 1994 December 31, 1993
--------------------- ---------------------
Carrying Fair Carrying Fair
Amount Value Amount Value
-------- ------- -------- -------
(in millions of dollars)
Balance Sheet financial instruments:
Marketable securities $ 583 $ 583 $ 348 $ 355
Finance receivables - net (1) $10,555 $10,513 $ 7,651 $ 7,671
Retained interests in sold receivables
and other related amounts - net (2) $ 2,210 $ 2,222 $ 2,563 $ 2,636
Debt (3) $10,877 $10,870 $ 8,541 $ 8,837
Currency exchange agreements $ 220(4) $ 241 $ 121(4) $ 145
<FN>
(1) The carrying value of finance receivables excludes approximately
$1,998 million and $1,975 million of direct finance and leveraged leases
classified as "Finance receivables - net" in the Company's Consolidated
Balance Sheet at December 31, 1994 and 1993, respectively. December 31,
1994 and 1993 data includes approximately $6,851 million and $5,416
million, respectively, of finance receivables which reprice monthly at
current market rates. The carrying value of these finance receivables
approximates fair value.
(2) The carrying value of retained interests in sold receivables and other
related amounts excludes approximately $41 million and $57 million of
retail lease securities at December 31, 1994 and 1993, respectively.
(3) The carrying value of debt excludes approximately $14 million and $15
million of obligations under capital leases at December 31, 1994 and 1993,
respectively. December 31, 1994 and 1993 data includes approximately
$5,643 million and $4,173 million, respectively, of short-term notes,
term debt and other borrowings which reprice at current market rates.
The carrying amount and fair value of debt excludes the effect of the
foreign currency exchange agreements.
(4) Recorded in the balance sheet as a reduction in debt.
The carrying value of cash and cash equivalents and accounts payable
approximates market value due to the short maturity of these instruments.
December 31, 1994 December 31, 1993
------------------------ ------------------------
Contract or Unrealized Contract or Unrealized
Notional Gains Notional Gains
Amount (Losses) Amount (Losses)
------------ ---------- ---------- ----------
(in millions of dollars)
Derivative financial instruments with
off-balance sheet risk:
Aggregate unrealized gain positions
Interest rate swaps $101 $ 4 $314 $ 15
Interest rate caps $134 $ -- $403 $ --
Forward interest rate contract $500 $ 1 $ -- $ --
Aggregate unrealized loss positions
Interest rate swaps $676 $(16) $807 $(60)
34
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 12 - Financial Instruments - continued
Although not a counterparty to certain derivative financial instruments entered
into between securitization trusts and third parties, the Company receives an
indirect beneficial interest from such instruments. Such indirect beneficial
interests are subject to reduction in the event of a counterparty's
non-performance. If a counterparty had failed to perform at December 31, 1994,
the Company would have been exposed to a $27 million loss.
The methods and assumptions used to estimate the fair value of financial
instruments are summarized as follows:
Marketable Securities
The fair value of marketable securities was estimated using quoted market
prices.
Finance Receivables - net
The carrying value of variable rate finance receivables was assumed to
approximate fair value since they are priced at current market rates. The
fair value of fixed rate finance receivables was estimated by discounting
expected cash flows using rates at which loans of similar maturities would
be made as of December 31, 1994 and 1993, respectively.
Retained Interests in Sold Receivables and Other Related Amounts - Net
The fair value of excess servicing cash flows and other subordinated amounts
due the Company arising from receivable sale transactions was estimated by
discounting expected cash flows.
Debt
The fair value of public debt was determined using quoted market prices. The
fair value of other long-term debt was estimated by discounting cash flows
using rates currently available for debt with similar terms and remaining
maturities.
Interest Rate Swaps and Interest Rate Caps
The fair value of the Company's existing interest rate swaps, interest rate
caps and forward interest rate contract was estimated by discounting net
cash flows using quoted market interest rates.
Currency Exchange Agreements
The fair value of currency exchange agreements was estimated by discounting
expected cash flows using market exchange rates and relative market interest
rates over the remaining term of the agreements.
The fair value estimates presented herein are based on pertinent information
available as of the date of the consolidated balance sheet. Although management
is not aware of any factors that would significantly affect the estimated fair
value amounts, such amounts have not been revalued since the date of the
consolidated balance sheet and, therefore, current estimates of fair value may
differ significantly from the amounts presented herein.
35
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 13 - Revenues, Earnings and Assets by Business Segment and Geographical
Area
The Company provides financing and insurance products and services through the
following major operating subsidiaries: Chrysler Credit Corporation -
automotive retail, wholesale and fleet financing; Chrysler Capital Corporation
- - servicing commercial loans and leases and originating tax advantaged
leveraged leases; Chrysler First Inc. - secured small business financing;
Chrysler Insurance Company - property, casualty and other insurance; Chrysler
Realty Corporation - automotive dealership facility development and management.
Revenues, earnings and assets of finance and insurance operations are as
follows:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Interest income and other revenues:
Finance operations $ 1,820 $ 1,878 $ 2,412
Insurance operations 164 161 163
Consolidated interest income and
other revenues $ 1,984 $ 2,039 $ 2,575
Earnings before income taxes and cumulative
effect of changes in accounting
principles:
Operating earnings:
Finance operations $ 302 $ 257 $ 310
Insurance operations 20 18 14
322 275 324
Amortization of costs in excess of
book value of companies acquired (7) (8) (29)
Consolidated earnings before income taxes and
cumulative effect of changes in accounting
principles $ 315 $ 267 $ 295
December 31,
1994 1993 1992
(in millions of dollars)
Assets:
Finance operations $16,274 $13,870 $17,201
Insurance operations 374 381 384
Consolidated assets $16,648 $14,251 $17,585
Revenues, earnings and assets by geographical area are as follows:
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Interest income and other revenues:
United States $1,778 $1,854 $2,346
Canada 87 84 137
Mexico 119 101 92
Consolidated interest income
and other revenues $1,984 $2,039 $2,575
36
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 13 - Revenues, Earnings and Assets by Business Segment and Geographical
Area - continued
Year Ended December 31,
1994 1993 1992
(in millions of dollars)
Earnings before income taxes and cumulative
effect of changes in accounting principles:
United States $ 278 $ 236 $ 251
Canada 26 13 29
Mexico 11 18 15
Consolidated earnings before income taxes and
cumulative effect of changes in accounting
principles $ 315 $ 267 $ 295
December 31,
1994 1993 1992
(in millions of dollars)
Assets:
United States $15,507 $13,259 $16,477
Canada 708 515 670
Mexico 433 477 438
Consolidated assets $16,648 $14,251 $17,585
Note 14 - Selected Quarterly Financial Data - Unaudited
Selected quarterly financial data for the years ended December 31, 1994 and
1993 are as follows:
Year Ended December 31, 1994
-----------------------------------------------------
First Second Third Fourth
Quarter Quarter Quarter Quarter
------- ------- ------- -------
(in millions of dollars)
Total interest income $331 $324 $329 $373
Interest expense $185 $193 $178 $198
Interest margin and other revenues $299 $279 $315 $337
Provision for credit losses $ 47 $ 40 $ 71 $ 45
Provision for income taxes $ 28 $ 25 $ 32 $ 35
Net earnings $ 47 $ 44 $ 50 $ 54
37
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA - continued
Note 14 - Selected Quarterly Financial Data - Unaudited
Year Ended December 31, 1993
-----------------------------------------------------
First Second Third Fourth
Quarter Quarter Quarter Quarter
------- ------- ------- -------
(in millions of dollars)
Total interest income $368 $354 $354 $342
Interest expense $219 $208 $186 $178
Interest margin and other revenues $292 $324 $321 $311
Provision for credit losses $ 46 $ 66 $ 57 $ 47
Provision for income taxes $ 13 $ 18 $ 42* $ 35
Earnings before cumulative effect
of change in accounting principle $ 37 $ 44 $ 22 $ 56
Cumulative effect of changes in
accounting principles $(30) $ -- $ -- $ --
Net earnings $ 7 $ 44 $ 22 $ 56
<FN>
* Includes $25 million for increase in statutory tax rate
38
[Letterhead of Deloitte & Touche LLP]
Deloitte &
Touche LLP
____________ _________________________________________
Suite 900 Telephone (313) 396-3000
600 Renaissance Center
Detroit, Michigan 48243-1704
INDEPENDENT AUDITORS' REPORT
Shareholder and Board of Directors
Chrysler Financial Corporation
Southfield, Michigan
We have audited the accompanying consolidated balance sheet of Chrysler
Financial Corporation (a subsidiary of Chrysler Corporation) and
consolidated subsidiaries as of December 31, 1994 and 1993, and the related
consolidated statements of net earnings and cash flows for each of the
three years in the period ended December 31, 1994. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based
on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the financial position of Chrysler Financial Corporation and
consolidated subsidiaries as of December 31, 1994 and 1993, and the results
of their operations and their cash flows for each of the three years in the
period ended December 31, 1994, in conformity with generally accepted
accounting principles.
As discussed in the notes to the consolidated financial statements, the
Company adopted new Statements of Financial Accounting Standards and,
accordingly, changed its method of accounting for certain investments in
debt and equity securities in 1994, its method of accounting for
postretirement benefits other than pensions and postemployment benefits in
1993, and its method of accounting for income taxes in 1992.
DELOITTE & TOUCHE LLP
January 16, 1995
_______________
Deloitte Touche
Tohmatsu
International
_______________
39
THIS PAGE INTENTIONALLY LEFT BLANK
40
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE
There is nothing to report with regard to this Item.
PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
(Omitted in accordance with General Instruction J.)
ITEM 11. EXECUTIVE COMPENSATION
(Omitted in accordance with General Instruction J.)
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
(Omitted in accordance with General Instruction J.)
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
(Omitted in accordance with General Instruction J.)
41
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
(a) The following documents are filed as a part of this report:
1. Financial Statements
Financial statements filed as part of this Form 10-K are listed under Part
II, Item 8 of this Form 10-K.
2. Financial Statement Schedules
Independent Auditors' Report on Schedules (page 69 of Form 10-K)
Schedule II - Valuation and qualifying accounts and reserves (page 75 of
Form 10- K)
Notes:
(A) Separate Company financial statements of Chrysler Financial
Corporation for the years ended December 31, 1992, 1991 and 1990
are omitted as not required under instructions contained in
Regulation S-X.
(B) Schedules other than those listed above have been omitted as not
required under instructions contained in Regulation S-X or
inapplicable.
Exhibits
3-A Copy of the Restated Articles of Incorporation of Chrysler
Financial Corporation as adopted and filed with the Corporation
Division of the Michigan Department of Treasury on October 1,
1971. Filed as Exhibit 3-A to Registration No. 2-43097 of
Chrysler Financial Corporation, and incorporated herein by
reference.
3-B Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 26, 1975, April 23,
1985 and June 21, 1985, respectively. Filed as Exhibit 3-B to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1985, and incorporated herein by
reference.
3-C Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on August 12, 1987 and August 14,
1987, respectively. Filed as Exhibit 3 to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1987, and incorporated herein by reference.
3-D Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 11, 1987 and January
25, 1988, respectively. Filed as Exhibit 3-D to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1987, and incorporated herein by reference.
42
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
3-E Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on June 13, 1989 and June 23,
1989, respectively. Filed as Exhibit 3-E to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
June 30, 1989, and incorporated herein by reference.
3-F Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on September 13, 1989, January
31, 1990 and March 8, 1990, respectively. Filed as Exhibit 3-E to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1989, and incorporated herein by
reference.
3-G Copy of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on March 29, 1990 and May 10,
1990. Filed as Exhibit 3-G to the Quarterly Report of Chrysler
Financial Corporation on Form 10-Q for the quarter ended March 31,
1990, and incorporated herein by reference.
3-H Copy of the By-Laws of Chrysler Financial Corporation as amended to
March 2, 1987. Filed as Exhibit 3-C to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1986, and incorporated herein by reference.
3-I Copy of the By-Laws of Chrysler Financial Corporation as amended to
August 1, 1990. Filed as Exhibit 3-I to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1990, and incorporated herein by reference.
3-J Copy of By-Laws of Chrysler Financial Corporation as amended to
January 1, 1992, and presently in effect. Filed as Exhibit 3-H to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1991, and incorporated herein by
reference.
4-A Copy of Indenture, dated as of June 15, 1984, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company, as
Trustee, United States Trust Company of New York, as successor
Trustee, related to Senior Debt Securities of Chrysler Financial
Corporation. Filed as Exhibit (1) to the Current Report of Chrysler
Financial Corporation on Form 8-K, dated June 26, 1984, and
incorporated herein by reference.
4-B Copy of Indenture, dated as of September 15, 1986, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
Trustee, United States Trust Company of New York, as successor
Trustee, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-E to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1986, and incorporated herein by reference.
43
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
4-C Copy of Amended and Restated Indenture, dated as of September 15,
1986, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-H to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q for
the quarter ended June 30, 1987, and incorporated herein by
reference.
4-D Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
Trustee, United States Trust Company of New York, as successor
Trustee, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-A to Registration No. 33-23479 of
Chrysler Financial Corporation, and incorporated herein by
reference.
4-E Copy of First Supplemental Indenture, dated as of March 1, 1988,
between Chrysler Financial Corporation and Manufacturers Hanover
Trust Company, Trustee, United States Trust Company of New York,
as successor Trustee, to the Indenture, dated as of February 15,
1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-L to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1987, and incorporated herein by
reference.
4-F Copy of Second Supplemental Indenture, dated as of September 7,
1990, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-M to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q
for the quarter ended September 30, 1990, and incorporated herein
by reference.
4-G Copy of Third Supplemental Indenture, dated as of May 4, 1992,
between Chrysler Financial Corporation and United States Trust
Company of New York, as successor Trustee, to the Indenture, dated
as of February 15, 1988 between such parties, relating to Chrysler
Financial Corporation Senior Debt Securities. Filed as Exhibit 4-N
to the Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended June 30, 1992, and incorporated herein
by reference.
4-H Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and IBJ Schroder Bank & Trust Company,
Trustee, related to Chrysler Financial Corporation Subordinated
Debt Securities. Filed as Exhibit 4-B to Registration No.
33-23479 of Chrysler Financial Corporation, and incorporated
herein by reference.
4-I Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and IBJ Schroder Bank
& Trust Company, Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Subordinated Debt Securities. Filed on September 13,
1989 as Exhibit 4-N to the Current Report of Chrysler Financial
Corporation on Form 8-K dated September 1, 1989, and incorporated
herein by reference.
44
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
4-J Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Irving Trust Company, Trustee, related to
Chrysler Financial Corporation Junior Subordinated Debt Securities.
Filed as Exhibit 4-C to Registration No. 33-23479 of Chrysler
Financial Corporation, and incorporated herein by reference.
4-K Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and Irving Trust
Company, Trustee, to the Indenture, dated as of February 15, 1988,
between such parties, related to Chrysler Financial Corporation
Junior Subordinated Debt Securities. Filed on September 13, 1989 as
Exhibit 4-O to the Current Report of Chrysler Financial Corporation
on Form 8-K dated September 1, 1989, and incorporated herein by
reference.
10-A Copy of Income Maintenance Agreement, made December 20, 1968, among
Chrysler Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation. Filed as Exhibit 13-D to Registration
Statement No. 2-32037 of Chrysler Financial Corporation, and
incorporated herein by reference.
10-B Copy of Agreement, made April 19, 1971, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
amending the Income Maintenance Agreement among such parties.
Filed as Exhibit 13-B to Registration Statement No. 2-40110 of
Chrysler Financial Corporation and Chrysler Corporation, and
incorporated herein by reference.
10-C Copy of Agreement, made May 29, 1973, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
further amending the Income Maintenance Agreement among such
parties. Filed as Exhibit 5-C to Registration Statement No.
2-49615 of Chrysler Financial Corporation, and incorporated
herein by reference.
10-D Copy of Agreement, made as of July 1, 1975, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler Motors
Corporation, further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit D to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1975, and incorporated herein by reference.
10-E Copy of Agreement, made June 4, 1976, between Chrysler Financial
Corporation and Chrysler Corporation further amending the Income
Maintenance Agreement between such parties. Filed as Exhibit 5-H
to Registration Statement No. 2-56398 of Chrysler Financial
Corporation, and incorporated herein by reference.
10-F Copy of Agreement, made March 27, 1986, between Chrysler Financial
Corporation, Chrysler Holding Corporation (now known as Chrysler
Corporation) and Chrysler Corporation (now known as Chrysler Motors
Corporation) further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit 10-F to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1986, and incorporated herein by reference.
45
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-G Copy of Revolving Credit Agreement, dated as of May 23, 1994, among
Chrysler Financial Corporation, Chemical Bank, as Agent, the
several commercial banks party thereto as Co-Agents, and Chemical
Securities Inc., as Arranger. Filed as Exhibit 10-A to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-H Copy of Fourth Amended and Restated Commitment Transfer Agreement,
dated as of May 23, 1994, among Chrysler Financial Corporation, the
several financial institutions parties thereto and Chemical Bank,
as agent. Filed as exhibit 10-B to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-I Copy of Guarantee Agreement, dated as of May 23, 1994, made by
Chrysler Financial Corporation to and in favor of Guaranteed
Parties as defined therein. Filed as Exhibit 10-C to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-J Copy of Revolving Credit Agreement, dated as of May 23, 1994, among
Chrysler Credit Canada Ltd., Royal Bank of Canada, as agent,
Canadian Imperial Bank of Commerce and Bank of Nova Scotia, as
co-agents, and the Lenders parties thereto. Filed as Exhibit 10-D
to the Current Report on Form 8-K of Chrysler Financial Corporation
dated May 23, 1994, and incorporated herein by reference.
10-K Copy of Short Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, Chemical Bank, as agent, the several
commercial banks parties thereto, and Chemical Bank Agency Services
Corporation, as Administrative Agent. Filed as Exhibit 10-E to the
Current Report on Form 8-K of Chrysler Financial Corporation dated
May 23, 1994, and incorporated herein by reference.
10-L Copy of Short Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed as
Exhibit 10-F to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-M Copy of Short Term Bank Supplement, dated as of May 23, 1994, among
U.S. Auto Receivables Company, Chrysler Credit Corporation and
Manufacturers and Traders Trust Company, as Trustee, to the Pooling
and Servicing Agreement dated as of May 31, 1991 with Respect to
CARCO Auto Loan Master Trust Short Term Bank Series. Filed as
Exhibit 10-G to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
46
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-N Copy of Long Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, the several commercial banks parties thereto,
Chemical Bank, as Agent, and Chemical Bank Agency Services
Corporation, as Administrative Agent. Filed as Exhibit 10-H to the
Current Report on Form 8-K of Chrysler Financial Corporation dated
May 23, 1994, and incorporated herein by reference.
10-O Copy of Long Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed as
Exhibit 10-I to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-P Copy of Long Term Bank Supplement, dated as of May 23, 1994, among
U.S. Auto Receivables Company, Chrysler Credit Corporation and
Manufacturers and Traders Trust Company, as Trustee, to the Pooling
and Servicing Agreement dated as of May 31, 1991 with respect to
CARCO Auto Loan Master Trust Bank Series. Filed as Exhibit 10-J to
the Current Report on Form 8- K of Chrysler Financial Corporation
dated May 23, 1994, and incorporated herein by reference.
10-Q Copy of Short Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-K to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-R Copy of Short Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-L to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-S Copy of Long Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-M to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-T Copy of Long Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-N to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
47
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-U Copy of Bank Series 1994-1 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-O to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-V Copy of Bank Series 1994-2 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-P to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-W Copy of Securitization Closing Agreement, dated as of February 1,
1993, among Chrysler Financial Corporation, certain Sellers,
certain Purchasers, and certain Purchaser Parties. Filed as Exhibit
2-E to the Current Report of Chrysler Financial Corporation on Form
8-K dated February 1, 1993, and incorporated herein by reference.
10-X Copy of First Amendment to Business Asset Purchase Agreement dated
as of January 29, 1993 among NationsBank Financial Services
Corporation, the other Purchasers parties thereto and the Sellers
parties thereto and Chrysler Financial Corporation. Filed as
Exhibit 2-D to the Current Report of Chrysler Financial Corporation
on Form 8-K dated February 1, 1993, and incorporated herein by
reference.
10-Y Copy of Asset Purchase Agreement, dated as of February 1, 1993,
among Chrysler Rail Transportation Corporation, Chrysler Capital
Transportation Services, Inc. and United States Rail Services, a
division of United States Leasing International, Inc. Filed as
Exhibit 10-IIIIII to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-Z Copy of Amended and Restated Trust Agreement, dated as of April 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-AA Copy of Indenture, dated as of April 1, 1993, between Premier Auto
Trust 1993-2 and Bankers Trust Company, as Indenture Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.2 of the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-BB Copy of Amended and Restated Trust Agreement, dated as of June 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-3. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-3 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
48
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-CC Copy of Indenture, dated as of June 1, 1993, between Premier Auto
Trust 1993-3 and Bankers Trust Company, as Indenture Trustee. Filed
as Exhibit 4.2 to the Quarterly Report of Premier Auto Trust 1993-3
on Form 10-Q for the quarter ended June 30, 1993, and incorporated
herein by reference.
10-DD Copy of Series 1993-1 Supplement, dated as of February 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 3 to the Trust's Registration Statement on Form
8-A dated March 15, 1993, and incorporated herein by reference.
10-EE Copy of Receivables Purchase Agreement, made as of April 7, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Association Assets Acquisition Inc., with respect to CARS
1993-1. Filed as Exhibit 10-OOOO to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-FF Copy of Receivables Purchase Agreement, made as of June 29, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Associated Assets Acquisition Inc., with respect to CARS
1993-2. Filed as Exhibit 10-PPPP to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-GG Copy of Pooling and Servicing Agreement, dated as of August 1,
1993, among Auto Receivables Corporation, Chrysler Credit Canada
Ltd., Montreal Trust Company of Canada and Chrysler Financial
Corporation, with respect to CARCO 1993-1. Filed as Exhibit 10-QQQQ
to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-HH Copy of Standard Terms and Conditions of Agreement, dated as of
August 1, 1993, among Auto Receivables Corporation, Chrysler Credit
Canada Ltd. and Chrysler Financial Corporation, with respect to
CARCO 1993-1. Filed as Exhibit 10-RRRR to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-II Copy of Purchase Agreement, dated as of August 1, 1993, between
Chrysler Credit Canada Ltd., and Auto Receivables Corporation, with
respect to CARCO 1993-1. Filed as Exhibit 10-SSSS to the Quarterly
Report on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
10-JJ Copy of Lease Receivables Purchase Agreement, dated September 3,
1993, among CXC Incorporated, Chrysler Systems Inc., and Chrysler
Financial Corporation. Filed as Exhibit 10-UUUU to the Quarterly
Report on Form 10- Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
49
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-KK Copy of Lease Receivables Purchase Agreement, dated September 22,
1993, among the CIT Group/Equipment Financing, Inc., Chrysler
Systems Inc., and Chrysler Financial Corporation. Filed as Exhibit
10-VVVV to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-LL Copy of Asset Purchase Agreement, dated as of July 31, 1993,
between Chrysler Rail Transportation Corporation and General
Electric Railcar Leasing Services Corporation. Filed as Exhibit
10-WWWW to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-MM Copy of Amended and Restated Loan Agreement, dated as of June 1,
1993, between Chrysler Realty Corporation and Chrysler Credit
Corporation. Filed as Exhibit 10-XXXX to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-NN Copy of Loan Agreement, dated as of March 31, 1993, between Manatee
Leasing, Inc. and Chrysler Credit Corporation. Filed as Exhibit
10-YYYY to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-OO Copy of Origination and Servicing Agreement, dated as of June 4,
1993, among Chrysler Leaserve, Inc., General Electric Capital Auto
Lease, Inc., Chrysler Credit Corporation and Chrysler Financial
Corporation. Filed as Exhibit 10-ZZZZ to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-PP Copy of Amended and Restated Trust Agreement, dated as of September
1, 1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Trustee, with respect to
Premier Auto Trust 1993-5. Filed as Exhibit 4.1 to the Quarterly
Report of Premier Auto Trust 1993-5 on Form 10-Q for the quarter
ended September 30, 1993, and incorporated herein by reference.
10-QQ Copy of Indenture, dated as of September 1, 1993, between Premier
Auto Trust 1993-5 and Bankers Trust Company, as Indenture Trustee,
with respect to Premier Auto Trust 1993-5. Filed as Exhibit 4.2 to
the Quarterly Report of Premier Auto Trust 1993-5 on Form 10-Q for
the quarter ended September 30, 1993, and incorporated herein by
reference.
10-RR Copy of Asset Purchase Agreement, dated as of October 29, 1993,
between Marine Asset Management Corporation and Trico Marine
Assets, Inc.. Filed as Exhibit 10-CCCCC to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-SS Copy of Asset Purchase Agreement, dated as of December 3, 1993,
between Chrysler Rail Transportation Corporation and Allied Railcar
Company. Filed as Exhibit 1O-OOOO to the Annual Report on Form 10-K
of Chrysler Financial Corporation for the year ended December 31,
1993, and incorporated herein by reference.
50
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-TT Copy of Secured Loan Purchase Agreement, dated as of December 15,
1993, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-PPPP to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the year
ended December 31, 1993, and incorporated herein by reference.
10-UU Copy of Series 1993-2 Supplement, dated as of November 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 3 to the Registration Statement on Form 8-A of
CARCO Auto Loan Master Trust dated December 6, 1993, and
incorporated herein by reference.
10-VV Copy of Amended and Restated Trust Agreement, dated as of November
1, 1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-6. Filed as Exhibit 4-A to the
Annual Report on Form 10-K of Premier Auto Trust 1993-6 for the
year ended December 31, 1993, and incorporated herein by reference.
10-WW Copy of Indenture, dated as of November 1, 1993, between Premier
Auto Trust 1993-6 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1993-6. Filed as
Exhibit 4-B to the Annual Report on Form 10-K of Premier Auto Trust
1993-6 for the year ended December 31, 1993, and incorporated
herein by reference.
10-XX Copy of Secured Loan Purchase Agreement, dated as of March 29,
1994, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-ZZZ to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended March 31, 1994, and incorporated herein by reference.
10-YY Copy of Amended and Restated Trust Agreement, dated as of February
1, 1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1994-1. Filed as Exhibit 4.1 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1994-1 for the
quarter ended March 31, 1994, and incorporated herein by reference.
10-ZZ Copy of Indenture, dated as of February 1, 1994, between Premier
Auto Trust 1994-1 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-1. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-1 for the quarter ended March 31, 1994, and incorporated
herein by reference.
10-AAA Copy of Secured Loan Purchase Agreement, dated as of July 6, 1994,
among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-BBBB to the Quarterly
Report on Form 10- Q of Chrysler Financial Corporation for the
quarter ended June 30, 1994, and incorporated herein by reference.
51
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-BBB Copy of Amended and Restated Trust Agreement, dated as of May 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1994-2. Filed as Exhibit 4.1 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1994-2 for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-CCC Copy of Indenture, dated as of May 1, 1994, between Premier Auto
Trust 1994-2 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-2. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-2 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-DDD Copy of Amended and Restated Trust Agreement, dated as of June 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank, Delaware, with respect to Premier
Auto Trust 1994-3. Filed as Exhibit 4.1 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1994-3 for the quarter ended June
30, 1994, and incorporated herein by reference.
10-EEE Copy of Indenture, dated as of June 1, 1994, between Premier Auto
Trust 1994-3 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-3. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-3 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-FFF Copy of Master Receivables Purchase Agreement among Chrysler
Credit Canada Ltd., CORE Trust and Chrysler Financial
Corporation, dated as of November 29, 1994.
10-GGG Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 2,
1994, with respect to the sale of retail automotive receivables to
CORE Trust.
10-HHH Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 22,
1994, with respect to the sale of retail automotive receivables to
CORE Trust.
10-III Copy of Asset Purchase Agreement, dated as of December 14, 1994,
between Chrysler Capital Income Partners, L.P. and First Union
Commercial Corporation.
10-JJJ Copy of Receivables Purchase Agreement, dated as of December 15,
1994, among Chrysler Financial Corporation, Premier Auto
Receivables Company and ABN AMRO Bank, N.V. as Agent, with respect
to the sale of retail automotive receivables to Windmill Funding
Corporation.
10-KKK Copy of Pooling and Servicing Agreement, dated as of August 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to CARCO DEALRs Wholesale Trust
1990-A. Filed as Exhibit 10-HHH to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1990, and incorporated herein by reference.
52
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-LLL Copy of Amendment, dated as of September 23, 1991, to the Pooling
and Servicing Agreement, dated August 1, 1990, among Chrysler Auto
Receivables Company, as Seller, Chrysler Credit Corporation, as
Servicer, and The Fuji Bank and Trust Company, as Trustee, with
respect to CARCO DEALRs Wholesale Trust 1990-A. Filed as Exhibit
10-NN to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-MMM Copy of Receivables Purchase Agreement, dated as of August 16,
1990, between Chrysler Auto Receivables Company, as Buyer, and
Chrysler Credit Corporation, as Seller, with respect to CARCO
DEALRs Wholesale Trust 1990- A. Filed as Exhibit 10-III to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1990, and incorporated herein by
reference.
10-NNN Copy of Receivables Sales Agreement, dated as of August 16, 1990,
between Chrysler Financial Corporation and Chrysler Credit
Corporation, with respect to CARCO DEALRs Wholesale Trust 1990-A.
Filed as Exhibit 10-JJJ to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1990, and
incorporated herein by reference.
10-OOO Copy of Pooling and Servicing Agreement, dated as of October 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, related to Money Market Auto Loan Trust
1990-1. Filed as Exhibit 4-A to the Registration of Certain Classes
of Securities Report of Money Market Auto Loan Trust 1990-1 on Form
8-A, and incorporated herein by reference.
10-PPP Copy of Amendment No. 1 to the Pooling and Servicing Agreement,
dated as of June 29, 1992, among Chrysler Auto Receivables Company,
as Seller, Chrysler Credit Corporation, as Servicer, and The Fuji
Bank and Trust Company, as Trustee, with respect to Money Market
Auto Loan Trust 1990-1. Filed as Exhibit 4-B to the Quarterly
Report of Money Market Auto Loan Trust 1990-1 on Form 10-Q for the
quarter ended June 30, 1992, and incorporated herein by reference.
10-QQQ Copy of Pooling and Servicing Agreement, dated as of May 1, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and The Fuji Bank and Trust Company, as
Trustee, with respect to Select Auto Receivables Trust 1991-1.
Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q of Select
Auto Receivables Trust 1991-1 for the quarter ended September 30,
1991, and incorporated herein by reference.
10-RRR Copy of Standard Terms and Conditions of Agreement, dated as of May
1, 1991, between Chrysler Auto Receivables Company, as Seller, and
Chrysler Credit Corporation, as Servicer, with respect to Select
Auto Receivables Trust 1991-1. Filed as Exhibit 4-B to the
Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-1 for the quarter ended September 30, 1991, and incorporated
herein by reference.
53
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-SSS Copy of Purchase Agreement, dated as of May 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-1. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Select Auto
Receivables Trust 1991-1 for the quarter ended September 30, 1991,
and incorporated herein by reference.
10-TTT Copy of Pooling and Servicing Agreement, dated as of May 31, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 2 to the CARCO Auto Loan Master Trust Registration
Statement on Form 8-A, and incorporated herein by reference.
10-UUU Copy of Pooling and Servicing Agreement, dated as of July 1, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and The Fuji Bank and Trust Company, as
Trustee, with respect to Select Auto Receivables Trust 1991-2.
Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q of Select
Auto Receivables Trust 1991-2 for the quarter ended September 30,
1991, and incorporated herein by reference.
10-VVV Copy of Standard Terms and Conditions of Agreement, dated as of
July 1, 1991, between Chrysler Auto Receivables Company, as Seller,
and Chrysler Credit Corporation, as Servicer, with respect to
Select Auto Receivables Trust 1991-2. Filed as Exhibit 4-B to the
Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-2 for the quarter ended September 30, 1991 and incorporated
herein by reference.
10-WWW Copy of Purchase Agreement, dated as of July 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-2. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Select Auto
Receivables Trust 1991-2 for the quarter ended September 30, 1991,
and incorporated herein by reference.
10-XXX Copy of Pooling and Servicing Agreement, dated as of September 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-3. Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q
of Select Auto Receivables Trust 1991-2 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-YYY Copy of Standard Terms and Conditions of Agreement, dated as of
September 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-3. Filed as Exhibit 4-B to
the Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-3 for the quarter ended September 30, 1991, and incorporated
herein by reference.
54
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-ZZZ Copy of Purchase Agreement, dated as of September 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-3. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Select Auto
Receivables Trust 1991-3 for the quarter ended September 30, 1991,
and incorporated herein by reference.
10-AAAA Copy of Pooling and Servicing Agreement, dated as of November 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-5. Filed as Exhibit 4-A to the Annual Report on Form 10-K of
Select Auto Receivables Trust 1991-5 for the year ended December
31, 1991, and incorporated herein by reference.
10-BBBB Copy of Standard Terms and Conditions of Agreement, dated as of
November 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-5. Filed as Exhibit 4-B to
the Annual Report on Form 10-K of Select Auto Receivables Trust
1991-5 for the year ended December 31, 1991, and incorporated
herein by reference.
10-CCCC Copy of Purchase Agreement, dated as of November 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-5. Filed
as Exhibit 4-C to the Annual Report on Form 10-K of Select Auto
Receivables Trust 1991-5 for the year ended December 31, 1991, and
incorporated herein by reference.
10-DDDD Copy of Pooling and Servicing Agreement, dated as of December 1,
1991, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-15 Grantor Trust. Filed as Exhibit
10-PPPP to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-EEEE Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-QQQQ to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-FFFF Copy of Standard Terms and Conditions of Agreement, dated as of
January 1, 1992, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to CFC-16 Grantor Trust. Filed as Exhibit 10-RRRR to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1991, and incorporated herein by reference.
10-GGGG Copy of Purchase Agreement, dated as of January 1, 1992 between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-SSSS to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
55
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-HHHH Copy of Sale and Servicing Agreement, dated as of January 1, 1992,
among Premier Auto Trust 1992-1, as Issuer, U.S. Auto Receivables
Company, as Seller, and Chrysler Credit Corporation, as Servicer,
with respect to Premier Auto Trust 1992-1. Filed as Exhibit 10-QQQQ
to the Registration Statement of Chrysler Financial Corporation, on
Form S-2 (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-IIII Copy of Trust Agreement, dated as of January 1, 1992, between U.S.
Auto Receivables Company and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1992-1. Filed as
Exhibit 10-RRRR to the Registration Statement of Chrysler
Financial Corporation on Form S-2 (Registration Statement No.
33-51302) on November 24, 1992, and incorporated herein by
reference.
10-JJJJ Copy of Purchase Agreement, dated as of January 1, 1992, between
Chrysler Financial Corporation, as Seller, and U.S. Auto
Receivables Company, as Purchaser, with respect to Premier Auto
Trust 1992-1. Filed as Exhibit 10-SSSS to the Registration
Statement of Chrysler Financial Corporation on Form S-2
(Registration Statement No. 33-51302) on November 24, 1992, and
incorporated herein by reference.
10-KKKK Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Financial Corporation, as Master Servicer,
Chrysler First Business Credit Corporation, as Seller, and Security
Pacific National Bank, as Trustee, with respect to U.S. Business
Equity Loan Trust 1992-1. Filed as Exhibit 4-A to the Quarterly
Report on Form 10-Q of U.S. Business Equity Loan Trust 1992-1 for
the quarter ended March 31, 1992, and incorporated herein by
reference.
10-LLLL Copy of First Amendment, dated as of November 8, 1991, to the
Series 1991- 3 Supplement, dated as of June 30, 1991, among
Chrysler Credit Corporation, as Servicer, U.S. Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust. Filed as
Exhibit 4-H to the Quarterly Report on Form 10-Q of CARCO Auto Loan
Master Trust for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-MMMM Copy of Indenture, dated as of March 1, 1992, between Premier
Auto Trust 1992-2 and Bankers Trust Company, with respect to
Premier Auto Trust 1992- 2 Asset Backed Notes. Filed as
Exhibit 4-A to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1992-2 for the quarter ended March 31, 1992, and
incorporated herein by reference.
10-NNNN Copy of a 6-3/8% Asset Backed Note with respect to Premier
Auto Trust 1992-2 Asset Backed Notes. Filed as Exhibit 4-B to
the Quarterly Report on Form 10-Q of Premier Auto Trust
1992-2 for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-OOOO Copy of Trust Agreement, dated as of March 1, 1992, between
U.S. Auto Receivables Company and Manufacturers Hanover Bank
(Delaware) with respect to Premier Auto Trust 1992-2 Asset
Backed Certificates. Filed as Exhibit 4-C to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-2 for the
quarter ended March 31, 1992, and incorporated herein by
reference.
56
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-PPPP Copy of Indenture, dated as of May 1, 1992, between Premier
Auto Trust 1992-3 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 3. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-3
for the quarter ended June 30, 1992, and incorporated herein
by reference.
10-QQQQ Copy of a 5.90% Asset Backed Note with respect to Premier
Auto Trust 1992- 3. Filed as Exhibit 4-B to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-3 for the
quarter ended June 30, 1992, and incorporated herein by
reference.
10-RRRR Copy of Trust Agreement, dated as of April 1, 1992, as
amended and restated as of May 1, 1992, between Premier Auto
Receivables Company and Manufacturers Hanover Bank (Delaware)
with respect to Premier Auto Trust 1992-3. Filed as Exhibit
4-C to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1992-3 for the quarter ended June 30, 1992, and
incorporated herein by reference.
10-SSSS Copy of Receivables Purchase Agreement, dated as of April 15,
1992, between Chrysler Credit Canada Ltd., Chrysler Financial
Corporation and Associated Assets Acquisition Inc. with respect
to Canadian Auto Receivables Securitization 1992-1. Filed as
Exhibit 10-IIIII to the Registration Statement on Form S-2 of
Chrysler Financial Corporation (Registration Statement No.
33-51302) on November 24, 1992, and incorporated herein by
reference.
10-TTTT Copy of Indenture, dated as of July 1, 1992, between Premier
Auto Trust 1992-4 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 4. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-4
for the quarter ended September 30, 1992, and incorporated
herein by reference.
10-UUUU Copy of 5.05% Asset Backed Note with respect to Premier Auto
Trust 1992-4. Filed as Exhibit 4-B to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1992-4 for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-VVVV Copy of Trust Agreement, dated as of July 1, 1992, between
Premier Auto Receivables Company and Chemical Bank Delaware,
with respect to Premier Auto Trust 1992-4. Filed as Exhibit
4-C to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1992-4 for the quarter ended September 30, 1992, and
incorporated herein by reference.
10-WWWW Copy of Receivables Purchase Agreement, dated as of August 18,
1992, between Chrysler Credit Ltd., Chrysler Financial
Corporation and Associated Assets Acquisition Inc. with
respect to Canadian Auto Receivables Securitization 1992-2.
Filed as Exhibit 10-OOOOO to the Registration Statement on
Form S-2 of Chrysler Financial Corporation (Registration
Statement No. 33-51302) on November 24, 1992, and
incorporated herein by reference.
57
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-XXXX Copy of Indenture, dated as of September 1, 1992, between
Premier Auto Trust 1992-5 and Bankers Trust Company with
respect to Premier Auto Trust 1992-5. Filed as Exhibit 4-A to
the Quarterly Report on Form 10-Q of Premier Auto Trust
1992-5 for the quarter ended September 30, 1992, and
incorporated herein by reference.
10-YYYY Copy of a 4.55% Asset Backed Note with respect to Premier
Auto Trust 1992- 5. Filed as Exhibit 4-B to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-5 for the
quarter ended September 30, 1992, and incorporated herein by
reference.
10-ZZZZ Copy of Trust Agreement, dated as of September 1, 1992,
between Premier Auto Receivables Company and Manufacturers
Hanover Bank (Delaware) with respect to Premier Auto Trust
1992-5. Filed as Exhibit 4-C to the Quarterly Report on Form
10-Q of Premier Auto Trust 1992-5 for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-AAAAA Copy of Series 1992-2 Supplement to the Pooling and Servicing
Agreement, dated as of October 1, 1992, among U.S. Auto
Receivables Company, as Seller, Chrysler Credit Corporation,
as Servicer, and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust, Series
1992-2. Filed as Exhibit 3 to Form 8-A of CARCO Auto Loan
Master Trust on October 30, 1992, and incorporated herein by
reference.
10-BBBBB Copy of Master Custodial and Servicing Agreement, dated as of
September 1, 1992 between Chrysler Credit Canada Ltd. and The
Royal Trust Company, as Custodian. Filed as Exhibit 10-TTTTT
to the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November
24, 1992, and incorporated herein by reference.
10-CCCCC Copy of Trust Indenture, dated as of September 1, 1992, among
Canadian Dealer Receivables Corporation and Montreal Trust
Company of Canada, as Trustee. Filed as Exhibit 10-UUUUU
to the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November
24, 1992, and incorporated herein by reference.
10-DDDDD Copy of Servicing Agreement, dated as of October 20, 1992, between
Chrysler Leaserve, Inc. (a subsidiary of General Electric Capital
Auto Lease, Inc.) and Chrysler Credit Corporation, with respect to
the sale of Gold Key Leases. Filed as Exhibit 10-YYYYY to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-EEEEE Copy of First Amendment dated as of August 24, 1992 to the Series
1991-1 Supplement dated as of May 31, 1991, among U.S. Auto
Receivables Company ("USA"), as seller (the "Seller"), Chrysler
Credit Corporation, as servicer (the "Servicer") and Manufacturers
and Traders Trust Company, as trustee (the "Trustee"), to the
Pooling and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to USA on August 8,
1991, as amended by the First Amendment dated as of August 6,
1992, among the Seller, the Servicer and the Trustee, with respect
to CARCO Auto Loan Master Trust. Filed as Exhibit 4-M to the
Quarterly Report on Form 10-Q of CARCO Auto Loan Master Trust for
the quarter ended September 30, 1992, and incorporated herein
by reference.
58
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-FFFFF Copy of Second Amendment dated as of August 24, 1992 to the
Series 1991-3 Supplement dated as of June 30, 1991, among
U.S. Auto Receivables Company ("USA"), as seller (the "Seller"),
Chrysler Credit Corporation, as servicer (the "Servicer") and
Manufacturers and Traders Trust Company, as trustee (the
"Trustee"), to the Pooling and Servicing Agreement dated as
of May 31, 1991, as assigned by Chrysler Auto Receivables Company
to USA on August 8, 1991, as amended by the First Amendment
dated as of August 6, 1992, among the Seller, the Servicer and
the Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 4-O to the Quarterly Report on Form 10-Q of
CARCO Auto Loan Master Trust for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-GGGGG Copy of Sale and Servicing Agreement, dated as of November 1,
1992, among Premier Auto Receivables Company, as Seller,
Chrysler Credit Corporation, as Servicer, and Premier Auto
Trust 1992-6, as Purchaser, with respect to Premier Auto
Trust 1992-6. Filed as Exhibit 10-PPPPPP to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-HHHHH Copy of Trust Agreement, dated as of November 1, 1992, among
ML Asset Backed Corporation, Premier Auto Receivables Company
and Chemical Bank Delaware as Owner Trustee, with respect to
Premier Auto Trust 1992-6. Filed as Exhibit 10-QQQQQQ to the
Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1992, and incorporated herein
by reference.
10-IIIII Copy of Sale and Servicing Agreement, dated as of January 1,
1993, among Premier Auto Receivables Company, as Seller,
Chrysler Credit Corporation, as Servicer, and Premier Auto
Trust 1993-1, as Purchaser, with respect to Premier Auto
Trust 1993-1. Filed as Exhibit 10-RRRRRR to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-JJJJJ Copy of Trust Agreement, dated as of January 1, 1993, among
ML Asset Backed Corporation, Premier Auto Receivables Company
and Chemical Bank Delaware, as Owner Trustee, with respect to
Premier Auto Trust 1993-1. Filed as Exhibit 10-SSSSSS to the
Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1992, and incorporated herein
by reference.
10-KKKKK Copy of Receivables Purchase Agreement, dated as of November
25, 1992, between Chrysler Credit Canada Ltd., Chrysler
Financial Corporation and Associated Assets Acquisitions Inc.
with respect to Canadian Auto Receivables Securitization
1992-3. Filed as Exhibit 10-TTTTTT to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-LLLLL Copy of Purchase Agreement, dated as of January 25, 1993,
among Chrysler Credit Canada Ltd., Auto 1 Limited Partnership
and Chrysler Financial Corporation, with respect to Auto 1
Trust. Filed as Exhibit 10-UUUUUU to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
59
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
10-MMMMM Copy of Master Lease Agreement, dated as of January 25, 1993,
among Chrysler Credit Canada Ltd., Chrysler Canada Ltd. and
Auto 1 Limited Partnership, with respect to Auto 1 Trust.
Filed as Exhibit 10-VVVVVV to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended
December 31, 1992, and incorporated herein by reference.
10-NNNNN Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1993-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1993-4 for the quarter ended September 30,
1993, and incorporated herein by reference.
10-OOOOO Copy of Indenture, dated as of August 1, 1993, between
Premier Auto Trust 1993-4 and Bankers Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1993-4.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1993-4 for the quarter ended September 30,
1993, and incorporated herein by reference.
10-PPPPP Copy of Lease Receivables Purchase Agreement, dated as of
December 23, 1992, among Chrysler Systems Leasing Inc.,
Chrysler Financial Corporation and Sanwa Business Credit
Corporation. Filed as Exhibit 10-TTTT to the Quarterly Report
on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
10-QQQQQ Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1994, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1994-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-4 for the quarter ended September 30,
1994, and incorporated herein by reference.
10-RRRRR Copy of Indenture, dated as of August 1, 1994, between
Premier Auto Trust 1994-4 and Bankers Trust Company, as
Indenture Trustee. Filed as Exhibit 4.2 to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1994-4 for the
quarter ended September 30, 1994, and incorporated herein by
reference.
60
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
- continued
12-A Chrysler Financial Corporation and Subsidiaries Computations of
Ratios of Earnings to Fixed Charges.
12-B Chrysler Corporation and Consolidated Subsidiaries Computations
of Ratios of Earnings to Fixed Charges and Preferred Stock
Dividend Requirements.
23 Consent of Deloitte & Touche LLP.
24 Powers of Attorney to which the signatures of directors of Chrysler
Financial Corporation have been affixed to this Annual Report on
Form 10-K.
27 Financial Data Schedule.
Copies of instruments defining the rights of holders of long-term
debt of the registrant and its consolidated subsidiaries, other
than the instruments copies of which are filed with this report as
Exhibit 4-A, 4-B, 4-C, 4-D, 4-E, 4-F, 4-G, 4-H, 4-I, 4-J and 4-K
thereto, have not been filed as exhibits to this report since the
amount of securities authorized under any one of such instruments
does not exceed 10% of the total assets of the registrant and its
subsidiaries on a consolidated basis. The registrant agrees to
furnish to the Commission a copy of each such instrument upon
request.
(b) The registrant filed the following reports on Form 8-K during the quarter
ended December 31, 1994.
Date of Report Date Filed Item Reported
October 11, 1994 October 11, 1994 5
December 6, 1994 December 6, 1994 5
Financial Statements Filed
Copy of the unaudited financial statements for Chrysler Financial
Corporation and subsidiaries for the quarter ended September 30, 1994, and
the related Independent Accountant's Report.
61
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62
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
CHRYSLER FINANCIAL CORPORATION
By T. W. SIDLIK
-------------------------
T. W. Sidlik
Chairman of the Board
Date: February 2, 1995
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.
Principal executive officer:
T. W. SIDLIK Chairman of the Board February 2, 1995
- -----------------------------
T. W. Sidlik
Principal financial officer:
D. M. CANTWELL Vice President - Corporate February 2, 1995
- -----------------------------
D. M. Cantwell Finance and Development
Principal accounting officer:
T. P. DYKSTRA Vice President and Controller February 2, 1995
- -----------------------------
T. P. Dykstra
63
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64
SIGNATURES (CONTINUED)
Board of Directors:
WILLIAM S. BISHOP* Director February 2, 1995
William S. Bishop
DENNIS M. CANTWELL* Director February 2, 1995
Dennis M. Cantwell
THOMAS P. CAPO* Director February 2, 1995
Thomas P. Capo
ROBERT J. EATON* Director February 2, 1995
Robert J. Eaton
JEREMIAH E. FARRELL* Director February 2, 1995
Jeremiah E. Farrell
ROBERT A. LUTZ* Director February 2, 1995
Robert A. Lutz
WILLIAM J. O'BRIEN, III* Director February 2, 1995
William J. O'Brien, III
T. W. SIDLIK* Director February 2, 1995
T. W. Sidlik
GARY C. VALADE* Director February 2, 1995
Gary C. Valade
*By ROBERT A. LINK
Robert A. Link
Attorney-in-Fact
February 2, 1995
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66
[Letterhead of Deloitte & Touche LLP]
Deloitte &
Touche LLP
____________ _________________________________________
Suite 900 Telephone (313) 396-3000
600 Renaissance Center
Detroit, Michigan 48243-1704
INDEPENDENT AUDITORS' REPORT ON SCHEDULE
Shareholder and Board of Directors
Chrysler Financial Corporation
Southfield, Michigan
We have audited the consolidated financial statements of Chrysler
Financial Corporation (a subsidiary of Chrysler Corporation) and
consolidated subsidiaries as of December 31, 1994 and 1993, and for each of
the three years in the period ended December 31, 1994, and have issued our
report thereon dated January 16, 1995; such report is included elsewhere
in this Form 10-K. Our audits also included the financial statement schedule
of Chrysler Financial Corporation and consolidated subsidiaries, listed in
Item 14. This financial statement schedule is the responsibility of the
Company's management. Our responsibility is to express an opinion based on
our audits. In our opinion, such financial statement schedule, when considered
in relation to the basic financial statements taken as a whole, presents
fairly in all material respects the information set forth therein.
DELOITTE & TOUCHE LLP
January 16, 1995
_______________
Deloitte Touche
Tohmatsu
International
_______________
67
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68
CHRYSLER FINANCIAL CORPORATION AND SUBSIDIARIES
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
(in millions of dollars)
Column A Column B Column C Column D Column E
-------- ---------- -------- ----------- --------
Additions
Charged to
Balance at Charged to Other Balance
Beginning Costs and Accounts- Deductions- at End
of Period Expenses Describe Describe of Period
YEAR ENDED DECEMBER 31, 1994
Reserve for insurance claims and
adjustment expenses $173 $109 $ - $101(a) $181
YEAR ENDED DECEMBER 31, 1993
Reserves for insurance claims and
adjustment expenses $152 $108 $ - $87 (a) $173
YEAR ENDED DECEMBER 31, 1992
Reserves for insurance claims and
adjustment expenses $133 $112 $ - $93 (a) $152
<FN>
NOTES:
(a) Primarily reductions for claims settled
EXHIBIT INDEX
3-A Copy of the Restated Articles of Incorporation of Chrysler
Financial Corporation as adopted and filed with the Corporation
Division of the Michigan Department of Treasury on October 1,
1971. Filed as Exhibit 3-A to Registration No. 2-43097 of
Chrysler Financial Corporation, and incorporated herein by
reference.
3-B Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 26, 1975, April 23,
1985 and June 21, 1985, respectively. Filed as Exhibit 3-B to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1985, and incorporated herein by
reference.
3-C Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on August 12, 1987 and August 14,
1987, respectively. Filed as Exhibit 3 to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1987, and incorporated herein by reference.
3-D Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on December 11, 1987 and January
25, 1988, respectively. Filed as Exhibit 3-D to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1987, and incorporated herein by reference.
3-E Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on June 13, 1989 and June 23,
1989, respectively. Filed as Exhibit 3-E to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
June 30, 1989, and incorporated herein by reference.
3-F Copies of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on September 13, 1989, January
31, 1990 and March 8, 1990, respectively. Filed as Exhibit 3-E to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1989, and incorporated herein by
reference.
3-G Copy of amendments to the Restated Articles of Incorporation of
Chrysler Financial Corporation filed with the Department of
Commerce of the State of Michigan on March 29, 1990 and May 10,
1990. Filed as Exhibit 3-G to the Quarterly Report of Chrysler
Financial Corporation on Form 10-Q for the quarter ended March 31,
1990, and incorporated herein by reference.
3-H Copy of the By-Laws of Chrysler Financial Corporation as amended to
March 2, 1987. Filed as Exhibit 3-C to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1986, and incorporated herein by reference.
E-1
EXHIBIT INDEX - continued
3-I Copy of the By-Laws of Chrysler Financial Corporation as amended to
August 1, 1990. Filed as Exhibit 3-I to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1990, and incorporated herein by reference.
3-J Copy of By-Laws of Chrysler Financial Corporation as amended to
January 1, 1992, and presently in effect. Filed as Exhibit 3-H to
the Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1991, and incorporated herein by
reference.
4-A Copy of Indenture, dated as of June 15, 1984, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company, as
Trustee, United States Trust Company of New York, as successor
Trustee, related to Senior Debt Securities of Chrysler Financial
Corporation. Filed as Exhibit (1) to the Current Report of Chrysler
Financial Corporation on Form 8-K, dated June 26, 1984, and
incorporated herein by reference.
4-B Copy of Indenture, dated as of September 15, 1986, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
Trustee, United States Trust Company of New York, as successor
Trustee, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-E to the Quarterly Report of
Chrysler Financial Corporation on Form 10-Q for the quarter ended
September 30, 1986, and incorporated herein by reference.
4-C Copy of Amended and Restated Indenture, dated as of September 15,
1986, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-H to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q for
the quarter ended June 30, 1987, and incorporated herein by
reference.
4-D Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Manufacturers Hanover Trust Company,
Trustee, United States Trust Company of New York, as successor
Trustee, related to Chrysler Financial Corporation Senior Debt
Securities. Filed as Exhibit 4-A to Registration No. 33-23479 of
Chrysler Financial Corporation, and incorporated herein by
reference.
4-E Copy of First Supplemental Indenture, dated as of March 1, 1988,
between Chrysler Financial Corporation and Manufacturers Hanover
Trust Company, Trustee, United States Trust Company of New York,
as successor Trustee, to the Indenture, dated as of February 15,
1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-L to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1987, and incorporated herein by
reference.
E-2
EXHIBIT INDEX - continued
4-F Copy of Second Supplemental Indenture, dated as of September 7,
1990, between Chrysler Financial Corporation and Manufacturers
Hanover Trust Company, Trustee, United States Trust Company of New
York, as successor Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Senior Debt Securities. Filed as Exhibit 4-M to the
Quarterly Report of Chrysler Financial Corporation on Form 10-Q
for the quarter ended September 30, 1990, and incorporated herein
by reference.
4-G Copy of Third Supplemental Indenture, dated as of May 4, 1992,
between Chrysler Financial Corporation and United States Trust
Company of New York, as successor Trustee, to the Indenture, dated
as of February 15, 1988 between such parties, relating to Chrysler
Financial Corporation Senior Debt Securities. Filed as Exhibit 4-N
to the Quarterly Report of Chrysler Financial Corporation on Form
10-Q for the quarter ended June 30, 1992, and incorporated herein
by reference.
4-H Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and IBJ Schroder Bank & Trust Company,
Trustee, related to Chrysler Financial Corporation Subordinated
Debt Securities. Filed as Exhibit 4-B to Registration No.
33-23479 of Chrysler Financial Corporation, and incorporated
herein by reference.
4-I Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and IBJ Schroder Bank
& Trust Company, Trustee, to the Indenture, dated as of February
15, 1988, between such parties, related to Chrysler Financial
Corporation Subordinated Debt Securities. Filed on September 13,
1989 as Exhibit 4-N to the Current Report of Chrysler Financial
Corporation on Form 8-K dated September 1, 1989, and incorporated
herein by reference.
4-J Copy of Indenture, dated as of February 15, 1988, between Chrysler
Financial Corporation and Irving Trust Company, Trustee, related to
Chrysler Financial Corporation Junior Subordinated Debt Securities.
Filed as Exhibit 4-C to Registration No. 33-23479 of Chrysler
Financial Corporation, and incorporated herein by reference.
4-K Copy of First Supplemental Indenture, dated as of September 1,
1989, between Chrysler Financial Corporation and Irving Trust
Company, Trustee, to the Indenture, dated as of February 15, 1988,
between such parties, related to Chrysler Financial Corporation
Junior Subordinated Debt Securities. Filed on September 13, 1989 as
Exhibit 4-O to the Current Report of Chrysler Financial Corporation
on Form 8-K dated September 1, 1989, and incorporated herein by
reference.
10-A Copy of Income Maintenance Agreement, made December 20, 1968, among
Chrysler Financial Corporation, Chrysler Corporation and Chrysler
Motors Corporation. Filed as Exhibit 13-D to Registration
Statement No. 2-32037 of Chrysler Financial Corporation, and
incorporated herein by reference.
E-3
EXHIBIT INDEX - continued
10-B Copy of Agreement, made April 19, 1971, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
amending the Income Maintenance Agreement among such parties.
Filed as Exhibit 13-B to Registration Statement No. 2-40110 of
Chrysler Financial Corporation and Chrysler Corporation, and
incorporated herein by reference.
10-C Copy of Agreement, made May 29, 1973, among Chrysler Financial
Corporation, Chrysler Corporation and Chrysler Motors Corporation,
further amending the Income Maintenance Agreement among such
parties. Filed as Exhibit 5-C to Registration Statement No.
2-49615 of Chrysler Financial Corporation, and incorporated
herein by reference.
10-D Copy of Agreement, made as of July 1, 1975, among Chrysler
Financial Corporation, Chrysler Corporation and Chrysler Motors
Corporation, further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit D to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1975, and incorporated herein by reference.
10-E Copy of Agreement, made June 4, 1976, between Chrysler Financial
Corporation and Chrysler Corporation further amending the Income
Maintenance Agreement between such parties. Filed as Exhibit 5-H
to Registration Statement No. 2-56398 of Chrysler Financial
Corporation, and incorporated herein by reference.
10-F Copy of Agreement, made March 27, 1986, between Chrysler Financial
Corporation, Chrysler Holding Corporation (now known as Chrysler
Corporation) and Chrysler Corporation (now known as Chrysler Motors
Corporation) further amending the Income Maintenance Agreement
among such parties. Filed as Exhibit 10-F to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year ended
December 31, 1986, and incorporated herein by reference.
10-G Copy of Revolving Credit Agreement, dated as of May 23, 1994, among
Chrysler Financial Corporation, Chemical Bank, as Agent, the
several commercial banks party thereto as Co-Agents, and Chemical
Securities Inc., as Arranger. Filed as Exhibit 10-A to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-H Copy of Fourth Amended and Restated Commitment Transfer Agreement,
dated as of May 23, 1994, among Chrysler Financial Corporation, the
several financial institutions parties thereto and Chemical Bank,
as agent. Filed as exhibit 10-B to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
E-4
EXHIBIT INDEX - continued
10-I Copy of Guarantee Agreement, dated as of May 23, 1994, made by
Chrysler Financial Corporation to and in favor of Guaranteed
Parties as defined therein. Filed as Exhibit 10-C to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-J Copy of Revolving Credit Agreement, dated as of May 23, 1994, among
Chrysler Credit Canada Ltd., Royal Bank of Canada, as agent,
Canadian Imperial Bank of Commerce and Bank of Nova Scotia, as
co-agents, and the Lenders parties thereto. Filed as Exhibit 10-D
to the Current Report on Form 8-K of Chrysler Financial Corporation
dated May 23, 1994, and incorporated herein by reference.
10-K Copy of Short Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, Chemical Bank, as agent, the several
commercial banks parties thereto, and Chemical Bank Agency Services
Corporation, as Administrative Agent. Filed as Exhibit 10-E to the
Current Report on Form 8-K of Chrysler Financial Corporation dated
May 23, 1994, and incorporated herein by reference.
10-L Copy of Short Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed as
Exhibit 10-F to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-M Copy of Short Term Bank Supplement, dated as of May 23, 1994, among
U.S. Auto Receivables Company, Chrysler Credit Corporation and
Manufacturers and Traders Trust Company, as Trustee, to the Pooling
and Servicing Agreement dated as of May 31, 1991 with Respect to
CARCO Auto Loan Master Trust Short Term Bank Series. Filed as
Exhibit 10-G to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-N Copy of Long Term Receivables Purchase Agreement, dated as of May
23, 1994, among Chrysler Financial Corporation, Chrysler Credit
Corporation, U.S. Auto Receivables Company, American Auto
Receivables Company, the several commercial banks parties thereto,
Chemical Bank, as Agent, and Chemical Bank Agency Services
Corporation, as Administrative Agent. Filed as Exhibit 10-H to the
Current Report on Form 8-K of Chrysler Financial Corporation dated
May 23, 1994, and incorporated herein by reference.
E-5
EXHIBIT INDEX - continued
10-O Copy of Long Term Participation and Servicing Agreement, dated as
of May 23, 1994, among American Auto Receivables Company, Chrysler
Credit Corporation, the banks and other financial institutions
named as purchasers therein, Chemical Bank, as Agent, and Chemical
Bank Agency Services Corporation, as Administrative Agent. Filed as
Exhibit 10-I to the Current Report on Form 8-K of Chrysler
Financial Corporation dated May 23, 1994, and incorporated herein
by reference.
10-P Copy of Long Term Bank Supplement, dated as of May 23, 1994, among
U.S. Auto Receivables Company, Chrysler Credit Corporation and
Manufacturers and Traders Trust Company, as Trustee, to the Pooling
and Servicing Agreement dated as of May 31, 1991 with respect to
CARCO Auto Loan Master Trust Bank Series. Filed as Exhibit 10-J to
the Current Report on Form 8- K of Chrysler Financial Corporation
dated May 23, 1994, and incorporated herein by reference.
10-Q Copy of Short Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-K to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-R Copy of Short Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-L to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-S Copy of Long Term Receivables Purchase Agreement, dated May 23,
1994, among Chrysler Financial Corporation, Chrysler Credit Canada
Ltd., the chartered banks named therein as purchasers, and Royal
Bank of Canada, as Agent. Filed as Exhibit 10-M to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-T Copy of Long Term Retail Purchase and Servicing Agreement, dated
May 23, 1994, among Chrysler Credit Canada Ltd., the chartered
banks named therein as parties thereto, and Royal Bank of Canada,
as Agent. Filed as Exhibit 10-N to the Current Report on Form 8-K
of Chrysler Financial Corporation dated May 23, 1994, and
incorporated herein by reference.
10-U Copy of Bank Series 1994-1 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-O to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
E-6
EXHIBIT INDEX - continued
10-V Copy of Bank Series 1994-2 Supplement, dated as of May 23, 1994,
among Chrysler Credit Canada Ltd., Royal Bank of Canada, as Agent,
the several banks parties thereto, and The Royal Trust Company, as
Custodian, to the Master Custodial and Servicing Agreement, dated
as of September 1, 1992. Filed as Exhibit 10-P to the Current
Report on Form 8-K of Chrysler Financial Corporation dated May 23,
1994, and incorporated herein by reference.
10-W Copy of Securitization Closing Agreement, dated as of February 1,
1993, among Chrysler Financial Corporation, certain Sellers,
certain Purchasers, and certain Purchaser Parties. Filed as Exhibit
2-E to the Current Report of Chrysler Financial Corporation on Form
8-K dated February 1, 1993, and incorporated herein by reference.
10-X Copy of First Amendment to Business Asset Purchase Agreement dated
as of January 29, 1993 among NationsBank Financial Services
Corporation, the other Purchasers parties thereto and the Sellers
parties thereto and Chrysler Financial Corporation. Filed as
Exhibit 2-D to the Current Report of Chrysler Financial Corporation
on Form 8-K dated February 1, 1993, and incorporated herein by
reference.
10-Y Copy of Asset Purchase Agreement, dated as of February 1, 1993,
among Chrysler Rail Transportation Corporation, Chrysler Capital
Transportation Services, Inc. and United States Rail Services, a
division of United States Leasing International, Inc. Filed as
Exhibit 10-IIIIII to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1992, and
incorporated herein by reference.
10-Z Copy of Amended and Restated Trust Agreement, dated as of April 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-AA Copy of Indenture, dated as of April 1, 1993, between Premier Auto
Trust 1993-2 and Bankers Trust Company, as Indenture Trustee, with
respect to Premier Auto Trust 1993-2. Filed as Exhibit 4.2 of the
Quarterly Report of Premier Auto Trust 1993-2 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
10-BB Copy of Amended and Restated Trust Agreement, dated as of June 1,
1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-3. Filed as Exhibit 4.1 to the
Quarterly Report of Premier Auto Trust 1993-3 on Form 10-Q for the
quarter ended June 30, 1993, and incorporated herein by reference.
E-7
EXHIBIT INDEX - continued
10-CC Copy of Indenture, dated as of June 1, 1993, between Premier Auto
Trust 1993-3 and Bankers Trust Company, as Indenture Trustee. Filed
as Exhibit 4.2 to the Quarterly Report of Premier Auto Trust 1993-3
on Form 10-Q for the quarter ended June 30, 1993, and incorporated
herein by reference.
10-DD Copy of Series 1993-1 Supplement, dated as of February 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 3 to the Trust's Registration Statement on Form
8-A dated March 15, 1993, and incorporated herein by reference.
10-EE Copy of Receivables Purchase Agreement, made as of April 7, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Association Assets Acquisition Inc., with respect to CARS
1993-1. Filed as Exhibit 10-OOOO to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-FF Copy of Receivables Purchase Agreement, made as of June 29, 1993,
among Chrysler Credit Canada Ltd., Chrysler Financial Corporation
and Associated Assets Acquisition Inc., with respect to CARS
1993-2. Filed as Exhibit 10-PPPP to the Quarterly Report on Form
10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-GG Copy of Pooling and Servicing Agreement, dated as of August 1,
1993, among Auto Receivables Corporation, Chrysler Credit Canada
Ltd., Montreal Trust Company of Canada and Chrysler Financial
Corporation, with respect to CARCO 1993-1. Filed as Exhibit 10-QQQQ
to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-HH Copy of Standard Terms and Conditions of Agreement, dated as of
August 1, 1993, among Auto Receivables Corporation, Chrysler Credit
Canada Ltd. and Chrysler Financial Corporation, with respect to
CARCO 1993-1. Filed as Exhibit 10-RRRR to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-II Copy of Purchase Agreement, dated as of August 1, 1993, between
Chrysler Credit Canada Ltd., and Auto Receivables Corporation, with
respect to CARCO 1993-1. Filed as Exhibit 10-SSSS to the Quarterly
Report on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
10-JJ Copy of Lease Receivables Purchase Agreement, dated September 3,
1993, among CXC Incorporated, Chrysler Systems Inc., and Chrysler
Financial Corporation. Filed as Exhibit 10-UUUU to the Quarterly
Report on Form 10- Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
E-8
EXHIBIT INDEX - continued
10-KK Copy of Lease Receivables Purchase Agreement, dated September 22,
1993, among the CIT Group/Equipment Financing, Inc., Chrysler
Systems Inc., and Chrysler Financial Corporation. Filed as Exhibit
10-VVVV to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-LL Copy of Asset Purchase Agreement, dated as of July 31, 1993,
between Chrysler Rail Transportation Corporation and General
Electric Railcar Leasing Services Corporation. Filed as Exhibit
10-WWWW to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-MM Copy of Amended and Restated Loan Agreement, dated as of June 1,
1993, between Chrysler Realty Corporation and Chrysler Credit
Corporation. Filed as Exhibit 10-XXXX to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-NN Copy of Loan Agreement, dated as of March 31, 1993, between Manatee
Leasing, Inc. and Chrysler Credit Corporation. Filed as Exhibit
10-YYYY to the Quarterly Report on Form 10-Q of Chrysler Financial
Corporation for the quarter ended September 30, 1993, and
incorporated herein by reference.
10-OO Copy of Origination and Servicing Agreement, dated as of June 4,
1993, among Chrysler Leaserve, Inc., General Electric Capital Auto
Lease, Inc., Chrysler Credit Corporation and Chrysler Financial
Corporation. Filed as Exhibit 10-ZZZZ to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
10-PP Copy of Amended and Restated Trust Agreement, dated as of September
1, 1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Trustee, with respect to
Premier Auto Trust 1993-5. Filed as Exhibit 4.1 to the Quarterly
Report of Premier Auto Trust 1993-5 on Form 10-Q for the quarter
ended September 30, 1993, and incorporated herein by reference.
10-QQ Copy of Indenture, dated as of September 1, 1993, between Premier
Auto Trust 1993-5 and Bankers Trust Company, as Indenture Trustee,
with respect to Premier Auto Trust 1993-5. Filed as Exhibit 4.2 to
the Quarterly Report of Premier Auto Trust 1993-5 on Form 10-Q for
the quarter ended September 30, 1993, and incorporated herein by
reference.
10-RR Copy of Asset Purchase Agreement, dated as of October 29, 1993,
between Marine Asset Management Corporation and Trico Marine
Assets, Inc.. Filed as Exhibit 10-CCCCC to the Quarterly Report on
Form 10-Q of Chrysler Financial Corporation for the quarter ended
September 30, 1993, and incorporated herein by reference.
E-9
EXHIBIT INDEX - continued
10-SS Copy of Asset Purchase Agreement, dated as of December 3, 1993,
between Chrysler Rail Transportation Corporation and Allied Railcar
Company. Filed as Exhibit 1O-OOOO to the Annual Report on Form 10-K
of Chrysler Financial Corporation for the year ended December 31,
1993, and incorporated herein by reference.
10-TT Copy of Secured Loan Purchase Agreement, dated as of December 15,
1993, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-PPPP to the Annual
Report on Form 10-K of Chrysler Financial Corporation for the year
ended December 31, 1993, and incorporated herein by reference.
10-UU Copy of Series 1993-2 Supplement, dated as of November 1, 1993,
among U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 3 to the Registration Statement on Form 8-A of
CARCO Auto Loan Master Trust dated December 6, 1993, and
incorporated herein by reference.
10-VV Copy of Amended and Restated Trust Agreement, dated as of November
1, 1993, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1993-6. Filed as Exhibit 4-A to the
Annual Report on Form 10-K of Premier Auto Trust 1993-6 for the
year ended December 31, 1993, and incorporated herein by reference.
10-WW Copy of Indenture, dated as of November 1, 1993, between Premier
Auto Trust 1993-6 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1993-6. Filed as
Exhibit 4-B to the Annual Report on Form 10-K of Premier Auto Trust
1993-6 for the year ended December 31, 1993, and incorporated
herein by reference.
10-XX Copy of Secured Loan Purchase Agreement, dated as of March 29,
1994, among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-ZZZ to the Quarterly
Report of Chrysler Financial Corporation on Form 10-Q for the
quarter ended March 31, 1994, and incorporated herein by reference.
10-YY Copy of Amended and Restated Trust Agreement, dated as of February
1, 1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1994-1. Filed as Exhibit 4.1 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1994-1 for the
quarter ended March 31, 1994, and incorporated herein by reference.
10-ZZ Copy of Indenture, dated as of February 1, 1994, between Premier
Auto Trust 1994-1 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-1. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-1 for the quarter ended March 31, 1994, and incorporated
herein by reference.
E-10
EXHIBIT INDEX - continued
10-AAA Copy of Secured Loan Purchase Agreement, dated as of July 6, 1994,
among Chrysler Credit Canada Ltd., Leaf Trust and Chrysler
Financial Corporation. Filed as Exhibit 10-BBBB to the Quarterly
Report on Form 10- Q of Chrysler Financial Corporation for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-BBB Copy of Amended and Restated Trust Agreement, dated as of May 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank Delaware, as Owner Trustee, with
respect to Premier Auto Trust 1994-2. Filed as Exhibit 4.1 to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1994-2 for the
quarter ended June 30, 1994, and incorporated herein by reference.
10-CCC Copy of Indenture, dated as of May 1, 1994, between Premier Auto
Trust 1994-2 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-2. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-2 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-DDD Copy of Amended and Restated Trust Agreement, dated as of June 1,
1994, among Premier Auto Receivables Company, Chrysler Financial
Corporation and Chemical Bank, Delaware, with respect to Premier
Auto Trust 1994-3. Filed as Exhibit 4.1 to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1994-3 for the quarter ended June
30, 1994, and incorporated herein by reference.
10-EEE Copy of Indenture, dated as of June 1, 1994, between Premier Auto
Trust 1994-3 and The Fuji Bank and Trust Company, as Indenture
Trustee, with respect to Premier Auto Trust 1994-3. Filed as
Exhibit 4.2 to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1994-3 for the quarter ended June 30, 1994, and incorporated
herein by reference.
10-FFF Copy of Master Receivables Purchase Agreement among Chrysler
Credit Canada Ltd., CORE Trust and Chrysler Financial
Corporation, dated as of November 29, 1994.
10-GGG Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 2,
1994, with respect to the sale of retail automotive receivables to
CORE Trust.
10-HHH Copy of Terms Schedule among Chrysler Credit Canada Ltd., CORE
Trust and Chrysler Financial Corporation, dated as of December 22,
1994, with respect to the sale of retail automotive receivables to
CORE Trust.
10-III Copy of Asset Purchase Agreement, dated as of December 14, 1994,
between Chrysler Capital Income Partners, L.P. and First Union
Commercial Corporation.
E-11
EXHIBIT INDEX - continued
10-JJJ Copy of Receivables Purchase Agreement, dated as of December 15,
1994, among Chrysler Financial Corporation, Premier Auto
Receivables Company and ABN AMRO Bank, N.V. as Agent, with
respect to the sale of retail automotive receivables to Windmill
Funding Corporation.
10-KKK Copy of Pooling and Servicing Agreement, dated as of August 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to CARCO DEALRs Wholesale Trust
1990-A. Filed as Exhibit 10-HHH to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended December 31,
1990, and incorporated herein by reference.
10-LLL Copy of Amendment, dated as of September 23, 1991, to the Pooling
and Servicing Agreement, dated August 1, 1990, among Chrysler Auto
Receivables Company, as Seller, Chrysler Credit Corporation, as
Servicer, and The Fuji Bank and Trust Company, as Trustee, with
respect to CARCO DEALRs Wholesale Trust 1990-A. Filed as Exhibit
10-NN to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-MMM Copy of Receivables Purchase Agreement, dated as of August 16,
1990, between Chrysler Auto Receivables Company, as Buyer, and
Chrysler Credit Corporation, as Seller, with respect to CARCO
DEALRs Wholesale Trust 1990- A. Filed as Exhibit 10-III to the
Annual Report of Chrysler Financial Corporation on Form 10-K for
the year ended December 31, 1990, and incorporated herein by
reference.
10-NNN Copy of Receivables Sales Agreement, dated as of August 16, 1990,
between Chrysler Financial Corporation and Chrysler Credit
Corporation, with respect to CARCO DEALRs Wholesale Trust 1990-A.
Filed as Exhibit 10-JJJ to the Annual Report of Chrysler Financial
Corporation on Form 10-K for the year ended December 31, 1990, and
incorporated herein by reference.
10-OOO Copy of Pooling and Servicing Agreement, dated as of October 1,
1990, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, related to Money Market Auto Loan Trust
1990-1. Filed as Exhibit 4-A to the Registration of Certain Classes
of Securities Report of Money Market Auto Loan Trust 1990-1 on Form
8-A, and incorporated herein by reference.
10-PPP Copy of Amendment No. 1 to the Pooling and Servicing Agreement,
dated as of June 29, 1992, among Chrysler Auto Receivables Company,
as Seller, Chrysler Credit Corporation, as Servicer, and The Fuji
Bank and Trust Company, as Trustee, with respect to Money Market
Auto Loan Trust 1990-1. Filed as Exhibit 4-B to the Quarterly
Report of Money Market Auto Loan Trust 1990-1 on Form 10-Q for the
quarter ended June 30, 1992, and incorporated herein by reference.
E-12
EXHIBIT INDEX - continued
10-QQQ Copy of Pooling and Servicing Agreement, dated as of May 1, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and The Fuji Bank and Trust Company, as
Trustee, with respect to Select Auto Receivables Trust 1991-1.
Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q of Select
Auto Receivables Trust 1991-1 for the quarter ended September 30,
1991, and incorporated herein by reference.
10-RRR Copy of Standard Terms and Conditions of Agreement, dated as of May
1, 1991, between Chrysler Auto Receivables Company, as Seller, and
Chrysler Credit Corporation, as Servicer, with respect to Select
Auto Receivables Trust 1991-1. Filed as Exhibit 4-B to the
Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-1 for the quarter ended September 30, 1991, and incorporated
herein by reference.
10-SSS Copy of Purchase Agreement, dated as of May 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-1. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Select Auto
Receivables Trust 1991-1 for the quarter ended September 30, 1991,
and incorporated herein by reference.
10-TTT Copy of Pooling and Servicing Agreement, dated as of May 31, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders Trust
Company, as Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 2 to the CARCO Auto Loan Master Trust Registration
Statement on Form 8-A, and incorporated herein by reference.
10-UUU Copy of Pooling and Servicing Agreement, dated as of July 1, 1991,
among Chrysler Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and The Fuji Bank and Trust Company, as
Trustee, with respect to Select Auto Receivables Trust 1991-2.
Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q of Select
Auto Receivables Trust 1991-2 for the quarter ended September 30,
1991, and incorporated herein by reference.
10-VVV Copy of Standard Terms and Conditions of Agreement, dated as of
July 1, 1991, between Chrysler Auto Receivables Company, as Seller,
and Chrysler Credit Corporation, as Servicer, with respect to
Select Auto Receivables Trust 1991-2. Filed as Exhibit 4-B to the
Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-2 for the quarter ended September 30, 1991 and incorporated
herein by reference.
10-WWW Copy of Purchase Agreement, dated as of July 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-2. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Select Auto
Receivables Trust 1991-2 for the quarter ended September 30, 1991,
and incorporated herein by reference.
E-13
EXHIBIT INDEX - continued
10-XXX Copy of Pooling and Servicing Agreement, dated as of September 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-3. Filed as Exhibit 4-A to the Quarterly Report on Form 10-Q
of Select Auto Receivables Trust 1991-2 for the quarter ended
September 30, 1991, and incorporated herein by reference.
10-YYY Copy of Standard Terms and Conditions of Agreement, dated as of
September 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-3. Filed as Exhibit 4-B to
the Quarterly Report on Form 10-Q of Select Auto Receivables Trust
1991-3 for the quarter ended September 30, 1991, and incorporated
herein by reference.
10-ZZZ Copy of Purchase Agreement, dated as of September 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-3. Filed
as Exhibit 4-C to the Quarterly Report on Form 10-Q of Select Auto
Receivables Trust 1991-3 for the quarter ended September 30, 1991,
and incorporated herein by reference.
10-AAAA Copy of Pooling and Servicing Agreement, dated as of November 1,
1991, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and The Fuji Bank and Trust
Company, as Trustee, with respect to Select Auto Receivables Trust
1991-5. Filed as Exhibit 4-A to the Annual Report on Form 10-K of
Select Auto Receivables Trust 1991-5 for the year ended December
31, 1991, and incorporated herein by reference.
10-BBBB Copy of Standard Terms and Conditions of Agreement, dated as of
November 1, 1991, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to Select Auto Receivables Trust 1991-5. Filed as Exhibit 4-B to
the Annual Report on Form 10-K of Select Auto Receivables Trust
1991-5 for the year ended December 31, 1991, and incorporated
herein by reference.
10-CCCC Copy of Purchase Agreement, dated as of November 1, 1991, between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to Select Auto Receivables Trust 1991-5. Filed
as Exhibit 4-C to the Annual Report on Form 10-K of Select Auto
Receivables Trust 1991-5 for the year ended December 31, 1991, and
incorporated herein by reference.
10-DDDD Copy of Pooling and Servicing Agreement, dated as of December 1,
1991, among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-15 Grantor Trust. Filed as Exhibit
10-PPPP to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
E-14
EXHIBIT INDEX - continued
10-EEEE Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and LaSalle National Bank, as
Trustee, with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-QQQQ to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-FFFF Copy of Standard Terms and Conditions of Agreement, dated as of
January 1, 1992, between Chrysler Auto Receivables Company, as
Seller, and Chrysler Credit Corporation, as Servicer, with respect
to CFC-16 Grantor Trust. Filed as Exhibit 10-RRRR to the Annual
Report of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1991, and incorporated herein by reference.
10-GGGG Copy of Purchase Agreement, dated as of January 1, 1992 between
Chrysler Financial Corporation and Chrysler Auto Receivables
Company with respect to CFC-16 Grantor Trust. Filed as Exhibit
10-SSSS to the Annual Report of Chrysler Financial Corporation on
Form 10-K for the year ended December 31, 1991, and incorporated
herein by reference.
10-HHHH Copy of Sale and Servicing Agreement, dated as of January 1, 1992,
among Premier Auto Trust 1992-1, as Issuer, U.S. Auto Receivables
Company, as Seller, and Chrysler Credit Corporation, as Servicer,
with respect to Premier Auto Trust 1992-1. Filed as Exhibit 10-QQQQ
to the Registration Statement of Chrysler Financial Corporation, on
Form S-2 (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-IIII Copy of Trust Agreement, dated as of January 1, 1992, between U.S.
Auto Receivables Company and Chemical Bank Delaware, as Owner
Trustee, with respect to Premier Auto Trust 1992-1. Filed as
Exhibit 10-RRRR to the Registration Statement of Chrysler
Financial Corporation on Form S-2 (Registration Statement No.
33-51302) on November 24, 1992, and incorporated herein by
reference.
10-JJJJ Copy of Purchase Agreement, dated as of January 1, 1992, between
Chrysler Financial Corporation, as Seller, and U.S. Auto
Receivables Company, as Purchaser, with respect to Premier Auto
Trust 1992-1. Filed as Exhibit 10-SSSS to the Registration
Statement of Chrysler Financial Corporation on Form S-2
(Registration Statement No. 33-51302) on November 24, 1992, and
incorporated herein by reference.
10-KKKK Copy of Pooling and Servicing Agreement, dated as of January 1,
1992, among Chrysler Financial Corporation, as Master Servicer,
Chrysler First Business Credit Corporation, as Seller, and Security
Pacific National Bank, as Trustee, with respect to U.S. Business
Equity Loan Trust 1992-1. Filed as Exhibit 4-A to the Quarterly
Report on Form 10-Q of U.S. Business Equity Loan Trust 1992-1 for
the quarter ended March 31, 1992, and incorporated herein by
reference.
E-15
EXHIBIT INDEX - continued
10-LLLL Copy of First Amendment, dated as of November 8, 1991, to the
Series 1991- 3 Supplement, dated as of June 30, 1991, among
Chrysler Credit Corporation, as Servicer, U.S. Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust. Filed as
Exhibit 4-H to the Quarterly Report on Form 10-Q of CARCO Auto Loan
Master Trust for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-MMMM Copy of Indenture, dated as of March 1, 1992, between Premier
Auto Trust 1992-2 and Bankers Trust Company, with respect to
Premier Auto Trust 1992- 2 Asset Backed Notes. Filed as
Exhibit 4-A to the Quarterly Report on Form 10-Q of Premier
Auto Trust 1992-2 for the quarter ended March 31, 1992, and
incorporated herein by reference.
10-NNNN Copy of a 6-3/8% Asset Backed Note with respect to Premier
Auto Trust 1992-2 Asset Backed Notes. Filed as Exhibit 4-B to
the Quarterly Report on Form 10-Q of Premier Auto Trust
1992-2 for the quarter ended March 31, 1992, and incorporated
herein by reference.
10-OOOO Copy of Trust Agreement, dated as of March 1, 1992, between
U.S. Auto Receivables Company and Manufacturers Hanover Bank
(Delaware) with respect to Premier Auto Trust 1992-2 Asset
Backed Certificates. Filed as Exhibit 4-C to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-2 for the
quarter ended March 31, 1992, and incorporated herein by
reference.
10-PPPP Copy of Indenture, dated as of May 1, 1992, between Premier
Auto Trust 1992-3 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 3. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-3
for the quarter ended June 30, 1992, and incorporated herein
by reference.
10-QQQQ Copy of a 5.90% Asset Backed Note with respect to Premier
Auto Trust 1992- 3. Filed as Exhibit 4-B to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-3 for the
quarter ended June 30, 1992, and incorporated herein by
reference.
10-RRRR Copy of Trust Agreement, dated as of April 1, 1992, as
amended and restated as of May 1, 1992, between Premier Auto
Receivables Company and Manufacturers Hanover Bank (Delaware)
with respect to Premier Auto Trust 1992-3. Filed as Exhibit
4-C to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1992-3 for the quarter ended June 30, 1992, and
incorporated herein by reference.
10-SSSS Copy of Receivables Purchase Agreement, dated as of April 15,
1992, between Chrysler Credit Canada Ltd., Chrysler Financial
Corporation and Associated Assets Acquisition Inc. with respect
to Canadian Auto Receivables Securitization 1992-1. Filed as
Exhibit 10-IIIII to the Registration Statement on Form S-2 of
Chrysler Financial Corporation (Registration Statement No.
33-51302) on November 24, 1992, and incorporated herein by
reference.
E-16
EXHIBIT INDEX - continued
10-TTTT Copy of Indenture, dated as of July 1, 1992, between Premier
Auto Trust 1992-4 and Bankers Trust Company with respect to
Premier Auto Trust 1992- 4. Filed as Exhibit 4-A to the
Quarterly Report on Form 10-Q of Premier Auto Trust 1992-4
for the quarter ended September 30, 1992, and incorporated
herein by reference.
10-UUUU Copy of 5.05% Asset Backed Note with respect to Premier Auto
Trust 1992-4. Filed as Exhibit 4-B to the Quarterly Report on
Form 10-Q of Premier Auto Trust 1992-4 for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-VVVV Copy of Trust Agreement, dated as of July 1, 1992, between
Premier Auto Receivables Company and Chemical Bank Delaware,
with respect to Premier Auto Trust 1992-4. Filed as Exhibit
4-C to the Quarterly Report on Form 10-Q of Premier Auto
Trust 1992-4 for the quarter ended September 30, 1992, and
incorporated herein by reference.
10-WWWW Copy of Receivables Purchase Agreement, dated as of August 18,
1992, between Chrysler Credit Ltd., Chrysler Financial
Corporation and Associated Assets Acquisition Inc. with
respect to Canadian Auto Receivables Securitization 1992-2.
Filed as Exhibit 10-OOOOO to the Registration Statement on
Form S-2 of Chrysler Financial Corporation (Registration
Statement No. 33-51302) on November 24, 1992, and
incorporated herein by reference.
10-XXXX Copy of Indenture, dated as of September 1, 1992, between
Premier Auto Trust 1992-5 and Bankers Trust Company with
respect to Premier Auto Trust 1992-5. Filed as Exhibit 4-A to
the Quarterly Report on Form 10-Q of Premier Auto Trust
1992-5 for the quarter ended September 30, 1992, and
incorporated herein by reference.
10-YYYY Copy of a 4.55% Asset Backed Note with respect to Premier
Auto Trust 1992- 5. Filed as Exhibit 4-B to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1992-5 for the
quarter ended September 30, 1992, and incorporated herein by
reference.
10-ZZZZ Copy of Trust Agreement, dated as of September 1, 1992,
between Premier Auto Receivables Company and Manufacturers
Hanover Bank (Delaware) with respect to Premier Auto Trust
1992-5. Filed as Exhibit 4-C to the Quarterly Report on Form
10-Q of Premier Auto Trust 1992-5 for the quarter ended
September 30, 1992, and incorporated herein by reference.
10-AAAAA Copy of Series 1992-2 Supplement to the Pooling and Servicing
Agreement, dated as of October 1, 1992, among U.S. Auto
Receivables Company, as Seller, Chrysler Credit Corporation,
as Servicer, and Manufacturers and Traders Trust Company, as
Trustee, with respect to CARCO Auto Loan Master Trust, Series
1992-2. Filed as Exhibit 3 to Form 8-A of CARCO Auto Loan
Master Trust on October 30, 1992, and incorporated herein by
reference.
E-17
EXHIBIT INDEX - continued
10-BBBBB Copy of Master Custodial and Servicing Agreement, dated as of
September 1, 1992 between Chrysler Credit Canada Ltd. and The
Royal Trust Company, as Custodian. Filed as Exhibit 10-TTTTT
to the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November
24, 1992, and incorporated herein by reference.
10-CCCCC Copy of Trust Indenture, dated as of September 1, 1992, among
Canadian Dealer Receivables Corporation and Montreal Trust
Company of Canada, as Trustee. Filed as Exhibit 10-UUUUU
to the Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November
24, 1992, and incorporated herein by reference.
10-DDDDD Copy of Servicing Agreement, dated as of October 20, 1992, between
Chrysler Leaserve, Inc. (a subsidiary of General Electric Capital
Auto Lease, Inc.) and Chrysler Credit Corporation, with respect to
the sale of Gold Key Leases. Filed as Exhibit 10-YYYYY to the
Registration Statement on Form S-2 of Chrysler Financial
Corporation (Registration Statement No. 33-51302) on November 24,
1992, and incorporated herein by reference.
10-EEEEE Copy of First Amendment dated as of August 24, 1992 to the Series
1991-1 Supplement dated as of May 31, 1991, among U.S. Auto
Receivables Company ("USA"), as seller (the "Seller"), Chrysler
Credit Corporation, as servicer (the "Servicer") and Manufacturers
and Traders Trust Company, as trustee (the "Trustee"), to the
Pooling and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to USA on August 8,
1991, as amended by the First Amendment dated as of August 6,
1992, among the Seller, the Servicer and the Trustee, with respect
to CARCO Auto Loan Master Trust. Filed as Exhibit 4-M to the
Quarterly Report on Form 10-Q of CARCO Auto Loan Master Trust for
the quarter ended September 30, 1992, and incorporated herein
by reference.
10-FFFFF Copy of Second Amendment dated as of August 24, 1992 to the
Series 1991-3 Supplement dated as of June 30, 1991, among
U.S. Auto Receivables Company ("USA"), as seller (the "Seller"),
Chrysler Credit Corporation, as servicer (the "Servicer") and
Manufacturers and Traders Trust Company, as trustee (the
"Trustee"), to the Pooling and Servicing Agreement dated as
of May 31, 1991, as assigned by Chrysler Auto Receivables Company
to USA on August 8, 1991, as amended by the First Amendment
dated as of August 6, 1992, among the Seller, the Servicer and
the Trustee, with respect to CARCO Auto Loan Master Trust.
Filed as Exhibit 4-O to the Quarterly Report on Form 10-Q of
CARCO Auto Loan Master Trust for the quarter ended
September 30, 1992, and incorporated herein by reference.
E-18
EXHIBIT INDEX - continued
10-GGGGG Copy of Sale and Servicing Agreement, dated as of November 1,
1992, among Premier Auto Receivables Company, as Seller,
Chrysler Credit Corporation, as Servicer, and Premier Auto
Trust 1992-6, as Purchaser, with respect to Premier Auto
Trust 1992-6. Filed as Exhibit 10-PPPPPP to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-HHHHH Copy of Trust Agreement, dated as of November 1, 1992, among
ML Asset Backed Corporation, Premier Auto Receivables Company
and Chemical Bank Delaware as Owner Trustee, with respect to
Premier Auto Trust 1992-6. Filed as Exhibit 10-QQQQQQ to the
Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1992, and incorporated herein
by reference.
10-IIIII Copy of Sale and Servicing Agreement, dated as of January 1,
1993, among Premier Auto Receivables Company, as Seller,
Chrysler Credit Corporation, as Servicer, and Premier Auto
Trust 1993-1, as Purchaser, with respect to Premier Auto
Trust 1993-1. Filed as Exhibit 10-RRRRRR to the Annual Report
of Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-JJJJJ Copy of Trust Agreement, dated as of January 1, 1993, among
ML Asset Backed Corporation, Premier Auto Receivables Company
and Chemical Bank Delaware, as Owner Trustee, with respect to
Premier Auto Trust 1993-1. Filed as Exhibit 10-SSSSSS to the
Annual Report of Chrysler Financial Corporation on Form 10-K
for the year ended December 31, 1992, and incorporated herein
by reference.
10-KKKKK Copy of Receivables Purchase Agreement, dated as of November
25, 1992, between Chrysler Credit Canada Ltd., Chrysler
Financial Corporation and Associated Assets Acquisitions Inc.
with respect to Canadian Auto Receivables Securitization
1992-3. Filed as Exhibit 10-TTTTTT to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-LLLLL Copy of Purchase Agreement, dated as of January 25, 1993,
among Chrysler Credit Canada Ltd., Auto 1 Limited Partnership
and Chrysler Financial Corporation, with respect to Auto 1
Trust. Filed as Exhibit 10-UUUUUU to the Annual Report of
Chrysler Financial Corporation on Form 10-K for the year
ended December 31, 1992, and incorporated herein by
reference.
10-MMMMM Copy of Master Lease Agreement, dated as of January 25, 1993,
among Chrysler Credit Canada Ltd., Chrysler Canada Ltd. and
Auto 1 Limited Partnership, with respect to Auto 1 Trust.
Filed as Exhibit 10-VVVVVV to the Annual Report of Chrysler
Financial Corporation on Form 10-K for the year ended
December 31, 1992, and incorporated herein by reference.
E-19
EXHIBIT INDEX - continued
10-NNNNN Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1993, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1993-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1993-4 for the quarter ended September 30,
1993, and incorporated herein by reference.
10-OOOOO Copy of Indenture, dated as of August 1, 1993, between
Premier Auto Trust 1993-4 and Bankers Trust Company, as
Indenture Trustee, with respect to Premier Auto Trust 1993-4.
Filed as Exhibit 4.2 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1993-4 for the quarter ended September 30,
1993, and incorporated herein by reference.
10-PPPPP Copy of Lease Receivables Purchase Agreement, dated as of
December 23, 1992, among Chrysler Systems Leasing Inc.,
Chrysler Financial Corporation and Sanwa Business Credit
Corporation. Filed as Exhibit 10-TTTT to the Quarterly Report
on Form 10-Q of Chrysler Financial Corporation for the
quarter ended September 30, 1993, and incorporated herein by
reference.
10-QQQQQ Copy of Amended and Restated Trust Agreement, dated as of
August 1, 1994, among Premier Auto Receivables Company,
Chrysler Financial Corporation and Chemical Bank Delaware, as
Owner Trustee, with respect to Premier Auto Trust 1994-4.
Filed as Exhibit 4.1 to the Quarterly Report on Form 10-Q of
Premier Auto Trust 1994-4 for the quarter ended September 30,
1994, and incorporated herein by reference.
10-RRRRR Copy of Indenture, dated as of August 1, 1994, between
Premier Auto Trust 1994-4 and Bankers Trust Company, as
Indenture Trustee. Filed as Exhibit 4.2 to the Quarterly
Report on Form 10-Q of Premier Auto Trust 1994-4 for the
quarter ended September 30, 1994, and incorporated herein by
reference.
E-20
EXHIBIT INDEX - continued
12-A Chrysler Financial Corporation and Subsidiaries Computations of
Ratios of Earnings to Fixed Charges.
12-B Chrysler Corporation and Consolidated Subsidiaries Computations
of Ratios of Earnings to Fixed Charges and Preferred Stock
Dividend Requirements.
23 Consent of Deloitte & Touche LLP.
24 Powers of Attorney to which the signatures of directors of Chrysler
Financial Corporation have been affixed to this Annual Report on
Form 10-K.
27 Financial Data Schedule.
Copies of instruments defining the rights of holders of long-term
debt of the registrant and its consolidated subsidiaries, other
than the instruments copies of which are filed with this report as
Exhibit 4-A, 4-B, 4-C, 4-D, 4-E, 4-F, 4-G, 4-H, 4-I, 4-J and 4-K
thereto, have not been filed as exhibits to this report since the
amount of securities authorized under any one of such instruments
does not exceed 10% of the total assets of the registrant and its
subsidiaries on a consolidated basis. The registrant agrees to
furnish to the Commission a copy of each such instrument upon
request.
E-21