CONFORMED
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934.
For the fiscal year ended December 31, 1995
----------------------
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 -
---------
CARCO AUTO LOAN MASTER TRUST
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
State of New York Not Applicable
- ------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
27777 Franklin Road, Southfield, Michigan 48034
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (810) 948-3060
---------------------------
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Series 1991-3, 7 7/8% Auto Loan Asset Backed Certificates
Floating Rate Auto Loan Asset Backed Certificates, Series 1992-2
Floating Rate Auto Loan Asset Backed Certificates, Series 1993-1
Floating Rate Auto Loan Asset Backed Certificates, Series 1993-2,
Class A-1 Money Market Extendible Certificates, Series 1993-2
Floating Rate Auto Loan Asset Backed Certificates, Series 1993-2,
Class A-2 Medium Term Certificates, Series 1993-2
Floating Rate Auto Loan Asset Backed Certificates, Series 1994-1
7 7/8% Auto Loan Asset Backed Certificates, Series 1994-2
Floating Rate Auto Loan Asset Backed Certificates, Series 1995-1
Floating Rate Auto Loan Asset Backed Certificates, Series 1995-2
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]
PART I.
ITEM 1. BUSINESS
The Trust was formed pursuant to the Pooling and Servicing Agreement dated as
of May 31, 1991, as assigned by Chrysler Auto Receivables Company ("CARCO"),
to U.S. Auto Receivables Company ("USA") on August 8, 1991, among USA,
Chrysler Credit Corporation, as Servicer ("CCC"), and Manufacturers and
Traders Trust Company, a New York banking corporation, as Trustee. The assets
of the Trust include wholesale receivables (the "Receivables") generated from
time to time in a portfolio of revolving financing arrangements (the
"Accounts") with automobile dealers to finance their automobile and light duty
truck inventory. More specifically, the assets of the Trust include (a)
certain Receivables existing under the accounts at the close of business on
May 31, 1991 (the "Initial Cut-Off Date"), certain Receivables generated under
the Accounts from time to time thereafter during the term of the Trust as well
as certain Receivables generated under any Accounts added to the Trust from
time to time (but excluding Receivables generated in any Accounts removed from
the Trust from time to time after the Initial Cut-Off Date), (b) all funds
collected or to be collected in respect of such Receivables, (c) all funds on
deposit in certain accounts of the Trust, (d) any Enhancement issued with
respect to a series of certificates issued by the Trust (each such series, a
"Series") and (e) a security interest in certain motor vehicles (the
"Vehicles") and certain parts inventory, equipment, fixtures, service accounts
and, in some cases, realty and/or a personal guarantee (collectively, the
"Collateral Security") securing the Receivables. The term "Enhancement" shall
mean, with respect to any Series, any letter of credit, surety bond, cash
collateral account, spread account, guaranteed rate agreement, maturity
liquidity facility, tax protection agreement, interest rate swap agreement or
other similar arrangement for the benefit of Certificateholders of such
Series.
USA entered into a Receivables Purchase Agreement, dated as of the date of the
Pooling and Servicing Agreement, between USA, as purchaser, and CCC, as seller
(the "Receivables Purchase Agreement"). Pursuant to the Receivables Purchase
Agreement, CCC has (a) sold to USA all of its right, title and interest in and
to all Receivables meeting certain eligibility criteria contained in the
Receivables Purchase Agreement and the Pooling and Servicing Agreement
("Eligible Receivables") and (b) assigned its interests in the Vehicles and
the Collateral Security to USA. USA in turn transferred such Receivables and
Collateral Security to the Trust pursuant to the Pooling and Servicing
Agreement. USA has also assigned to the Trust its rights with respect to the
Receivables under the Receivables Purchase Agreement.
All new Receivables arising under the Accounts prior to January 1, 1996, were
sold by CCC to USA and transferred by USA to the Trust. All new Receivables
arising under the Accounts on or after January 1, 1996, during the term of the
Trust will be sold by Chrysler Financial Corporation ("CFC") to USA and
transferred by USA to the Trust. Accordingly, the aggregate amount of
Receivables in the Trust will fluctuate from day to day as new Receivables are
generated and as existing Receivables are collected, charged off as
uncollectible or otherwise adjusted.
CARCO and USA are wholly-owned subsidiaries of CFC. On December 31, 1995, CCC,
a wholly owned subsidiary of CFC, merged with and into CFC. CCC serviced the
Receivables prior to January 1, 1996. CFC now services the Receivables.
The Trust has no employees.
ITEM 2. PROPERTIES
There is nothing to report with regard to this item.
2
ITEM 3. LEGAL PROCEEDINGS
There is nothing to report with regard to this item.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There is nothing to report with regard to this item.
PART II.
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY
AND RELATED STOCKHOLDER MATTERS
There is nothing to report with regard to this item.
ITEM 6. SELECTED FINANCIAL DATA
The selected financial data has been omitted since the required information is
included in the financial statements or the notes thereto.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATION
The following Certificates were issued by the Trust evidencing undivided
interests in certain assets of the Trust:
Issue Date Series Description
Maturity Date Principal Amount
- ------------- -------------------
June 1991 Floating Rate Auto Loan Asset Backed Certificates, Series 1991-1
December 1994 $400 million
August 1991 7 3/8% Auto Loan Asset Backed Certificates, Series 1991-2
August 1993 $250 million
August 1991 7 7/8% Auto Loan Asset Backed Certificates, Series 1991-3
Outstanding $750 million
October 1991 Floating Rate Auto Loan Asset Backed Certificates, Series 1991-4
October 1994 $500 million
December 1991 Money Market Auto Loan Asset Backed Certificates, Series A
March 1992 $300 million
March 1992 Money Market Auto Loan Asset Backed Certificates, Series B
June 1992 $350 million
May 1992 Money Market Auto Loan Asset Backed Certificates, Series C
August 1992 $150 million
3
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)
Issue Date Series Description
Maturity Date Principal Amount
- ------------- -------------------
July 1992 Floating Rate Auto Loan Asset Backed Certificates, Series 1992-1
August 1994 $400 million
October 1992 Floating Rate Auto Loan Asset Backed Certificates, Series 1992-2
Outstanding $400 million
February 1993 Floating Rate Auto Loan Asset Backed Certificates, Series 1993-1
Outstanding $250 million
November 1993 Floating Rate Auto Loan Asset Backed Certificates, Series 1993-2
Outstanding $500 million
October 1994 Floating Rate Auto Loan Asset Backed Certificates, Series 1994-1
Outstanding $500 million
December 1994 7 7/8% Auto Loan Asset Backed Certificates, Series 1994-2
Outstanding $500 million
December 1994 8 1/8% Auto Loan Asset Backed Certificates, Series 1994-3
Outstanding $350 million
January 1995 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-1
Outstanding $600 million
March 1995 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-2
Outstanding $600 million
May 1995 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-3
Outstanding $500 million
May 1995 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-4
Outstanding $500 million
May 1995 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-4A
Outstanding $500 million
December 1995 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-5
Outstanding $250 million
Chrysler Credit Corporation ("CCC") serviced the Receivables for a fee prior
to January 1, 1996. On December 31, 1995 CCC merged with and into Chrysler
Financial Corporation ("CFC"). CFC will now service the Receivables for a fee.
The Trust has no employees.
4
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
CARCO AUTO LOAN MASTER TRUST
STATEMENTS OF ASSETS, LIABILITIES AND EQUITY
(in millions of dollars)
December 31,
-------------------
1995 1994
---- ----
ASSETS
Cash and Cash Equivalents (Note 2) $ 136.4 $ 63.5
Receivables (Note 4) 7,858.6 5,424.1
-------- --------
TOTAL ASSETS $7,995.0 $5,487.6
======== ========
LIABILITIES AND EQUITY
Amounts Held for Future Distribution (Note 2) $ 136.4 $ 63.5
Asset Backed Certificates (Notes 3 and 4) 7,858.6 5,424.1
-------- --------
TOTAL LIABILITIES AND EQUITY $7,995.0 $5,487.6
======== ========
<FN>
See Notes to Financial Statements.
5
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)
CARCO AUTO LOAN MASTER TRUST
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
(in millions of dollars)
Year Ended December 31,
-------------------------------
1995 1994 1993
---- ---- ----
CASH RECEIPTS
Collections of Interest $ 631.9 $ 306.6 $ 272.0
Deposits to Subordinated Accounts 22.1 3.0 121.6
Proceeds from Sales of
Investor Certificates 2,950.0 1,350.0 750.0
Collections of Principal -- 1,300.0 250.0
-------- -------- --------
TOTAL CASH RECEIPTS 3,604.0 2,959.6 1,393.6
-------- -------- --------
CASH DISBURSEMENTS
Purchases of Certificates held by USA 2,950.0 1,350.0 750.0
Distributions of Interest 533.6 275.6 249.1
Distributions of Principal -- 1,300.0 250.0
Distributions of Amounts from
Subordinated Accounts -- 8.6 116.0
Distributions of Service Fees 47.5 29.0 27.4
-------- -------- --------
TOTAL CASH DISBURSEMENTS 3,531.1 2,963.2 1,392.5
-------- -------- --------
CASH RECEIPTS IN EXCESS OF CASH DISBURSEMENTS
(CASH DISBURSEMENTS IN EXCESS OF CASH RECEIPTS) 72.9 (3.6) 1.1
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 63.5 67.1 66.0
-------- -------- --------
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 136.4 $ 63.5 $ 67.1
======== ======== ========
<FN>
See Notes to Financial Statements.
6
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)
CARCO AUTO LOAN MASTER TRUST
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNT POLICIES
Basis of Accounting
The financial statements of CARCO Auto Loan Master Trust (the "Trust") are
prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.
Derivative Financial Instruments
The Trust used derivative financial instruments to manage its exposure arising
from declines in interest rates. The derivative financial instruments used
have been limited to interest rate swap agreements. The Trust does not use
derivative financial instruments for trading purposes.
Interest differentials resulting from interest rate swap agreements are
recorded on a cash basis as an adjustment to interest collections.
NOTE 2 - CASH AND CASH EQUIVALENTS
Short-term instruments with a maturity of less than 30 days when purchased are
considered to be cash equivalents. Prior to January 1, 1996, Chrysler Credit
Corporation ("CCC") was required to remit collections within two business days
of receipt to one or more accounts in the name of the Trustee. On a daily
basis, all funds so deposited were invested in short-term instruments pending
distribution. On December 31, 1995, CCC merged with and into Chrysler
Financial Corporation ("CFC"). CFC now remits collections to the Trust.
NOTE 3 - RELATED PARTIES
U.S. Auto Receivables Company ("USA") is, and CCC was, a wholly-owned
subsidiary of CFC. On December 31, 1995, CCC merged with and into CFC.
7
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)
CARCO AUTO LOAN MASTER TRUST
NOTES TO FINANCIAL STATEMENTS
NOTE 4 - SALES OF CERTIFICATES
The following Certificates were issued by the Trust evidencing undivided
interests in certain assets of the Trust:
Issue Principal Amount
Date Series Description (in millions)
- ----- ------------------ ----------------
6/91 Floating Rate Auto Loan Asset Backed Certificates, Series 1991-1 $400 (1)
8/91 7 3/8% Auto Loan Asset Backed Certificates, Series 1991-2 $250 (1)
8/91 7 7/8% Auto Loan Asset Backed Certificates, Series 1991-3 $750
10/91 Floating Rate Auto Loan Asset Backed Certificates, Series 1991-4 $500 (1)
12/91 Money Market Auto Loan Asset Backed Certificates, Series A $300 (1)
3/92 Money Market Auto Loan Asset Backed Certificates, Series B $350 (1)
5/92 Money Market Auto Loan Asset Backed Certificates, Series C $150 (1)
7/92 Floating Rate Auto Loan Asset Backed Certificates, Series 1992-1 $400 (1)
10/92 Floating Rate Auto Loan Asset Backed Certificates, Series 1992-2 $400
2/93 Floating Rate Auto Loan Asset Backed Certificates, Series 1993-1 $250
11/93 Floating Rate Auto Loan Asset Backed Certificates, Series 1993-2
Class A-1 Money Market Extendible Certificates $400
Class A-2 Medium Term Certificates $100
10/94 Floating Rate Auto Loan Asset Backed Certificates, Series 1994-1 $500
12/94 7 7/8% Auto Loan Asset Backed Certificates, Series 1994-2 $500
12/94 8 1/8% Auto Loan Asset Backed Certificates, Series 1994-3 $350
1/95 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-1 $600
3/95 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-2 $600
5/95 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-3 $500
5/95 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-4 $500
5/95 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-4A $500
12/95 Floating Rate Auto Loan Asset Backed Certificates, Series 1995-5 $250
<FN>
Receivables in excess of total investors certificates outstanding at December
31, 1995 and 1994, are represented by Certificates held by USA.
(1) Series matured prior to 12/31/95. Refer to Note 5 for further details.
8
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)
CARCO AUTO LOAN MASTER TRUST
NOTES TO FINANCIAL STATEMENTS
NOTE 5 - PRINCIPAL AND INTEREST PAYMENTS
Expected
Interest Interest Principal Maturity
Series Rate Payments Payments(1) Date(2)
- ------ -------- -------- ----------- -------
91-1 LIBOR + 0.25% Monthly 7-12/1994 Matured
91-2 7 3/8% (3) Semi-Annually 8/1993 Matured
91-3 7 7/8% (3) Semi-Annually -- 8/1996
91-4 LIBOR + 0.50% Monthly 10/1994 Matured
A Comm Paper + 0.20% Monthly 3/1992 Matured
B Comm Paper + 0.25% Monthly 6/1992 Matured
C Comm Paper + 0.25% Monthly 8/1992 Matured
92-1 LIBOR + 0.20% Monthly 8/1994 Matured
92-2 LIBOR + 0.35% Monthly -- 10/1997
93-1 LIBOR + 0.28% Monthly -- 2/1998
93-2 A-1 Comm Paper + 0.075% Monthly -- 11/1998
A-2 LIBOR + 0.26% Monthly -- 11/1998
94-1 LIBOR + 0.18% Monthly -- 10/1999
94-2 7 7/8% (3) Semi-Annually -- 8/1997
94-3 8 1/8% (3) Annually -- 11/1997
95-1 LIBOR + 0.16% Monthly -- 7/1998
95-2 LIBOR + 0.13% Monthly -- 3/2000
95-3 Fed Funds + 0.25% Monthly -- 6/1998
95-4 Fed Funds + 0.26% Monthly -- 5/1998
95-4A Fed Funds + 0.26% Monthly -- 7/1998
95-5 Comm Paper + 0.1875% Monthly -- 2/2000
<FN>
(1) The dates listed are the Distribution Dates on which the principal of the
Certificates were paid.
(2) The date listed is the Distribution Date on which the principal of the
Certificates is scheduled to be paid, however, the principal of the
Certificates may be paid earlier under certain circumstances described in the
related prospectus.
(3) In connection with this Series, the Trust entered into an interest rate
swap agreement with CFC, the notional amount of which is equal to the
principal amount of the related Certificates. Under this agreement, CFC paid
the Trust interest at the Certificate Rate, and the Trust paid interest to CFC
based on a floating rate (which is the lesser of (a) LIBOR or (b) Prime less
1.5%).
9
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)
CARCO AUTO LOAN MASTER TRUST
NOTES TO FINANCIAL STATEMENTS
NOTE 6 - FEDERAL INCOME TAXES
The Certificates, in the opinion of outside legal counsel, will not be
characterized as debt of the Trust for federal income tax purposes.
Certificate holders will be subject to income tax on interest earned with
respect to the Certificates.
NOTE 7 - FAIR VALUE OF FINANCIAL INSTRUMENTS
Financial Instruments
The estimated fair value of financial instruments have been determined 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 could be realized 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.
The carrying amounts and estimated fair values of the Trust's financial
instruments were as follows:
December 31, 1995 December 31, 1994
---------------------- ----------------------
Carrying Fair Carrying Fair
Amounts Value Amounts Value
-------- ----- -------- -----
(in millions of dollars)
Receivables $7,858.6 $7,858.6 $5,424.1 $5,424.1
Asset Back Certificates $7,858.6 $7,858.6 $5,424.1 $5,424.1
Assumptions and Methodologies
The carrying value of cash and cash equivalents and amounts held for future
distribution approximate market value due to the short maturity of these
instruments.
The fair value of variable rate receivables was assumed to approximate fair
value since they are priced at current market rates.
The fair value of Asset Backed Certificates was estimated using quoted market
prices for investors' certificates and net realizable value for excess
receivables.
10
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)
CARCO AUTO LOAN MASTER TRUST
NOTES TO FINANCIAL STATEMENTS
NOTE 7 - FAIR VALUE OF FINANCIAL INSTRUMENTS - continued
Derivative Financial Instruments
The Trust is exposed to the risk of declining interest rates as a result of
financing the acquisition of receivables bearing floating rates with fixed
rate certificates. As described in Note 5, the Trust has entered into interest
rate swap agreements with CFC to reduce its exposure to decreases in interest
rates. Under the terms of the agreements the Trust receives a fixed rate
interest payment from CFC in return for interest payments based on a variable
rate. The weighted average fixed rate received by the Trust was 7.93% at
December 31, 1995 and December 31, 1994. The weighted average floating rate
paid to CFC was 6.00% and 6.19% at December 31, 1995 and December 31, 1994,
respectively. The Trust does not enter into derivative financial instruments
for trading purposes.
Interest rate swap differentials are deposited in, or paid from, the
collection account. Funds remaining in the collection account after
distribution to Certificateholders are returned to USA.
The table below summarizes the Trust's position in interest rate swap
agreements:
December 31, 1995 December 31, 1994
--------------------- -----------------------
Contract Contract
or Unrealized or Unrealized
Notional Gains Notional Gains
Amount (Losses) Amount (Losses)
-------- ---------- -------- ----------
(in millions of dollars)
Pay variable interest
rate swaps $ 1,600.0 $ 49.2 $ 1,600.0 ($ 7.4)
The fair value of the Trust's interest rate swap agreements were estimated by
discounting net cash flows using quoted market interest rates in effect at the
end of each year presented. Such quoted market interest rates do not give
effect to anticipated changes in market interest rates.
11
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 statements of assets, liabilities and equity
arising from cash transactions of the CARCO Auto Loan Master Trust, as of
December 31, 1995 and 1994, and the related statement of cash receipts and
disbursements for each of the three years in the period ended December 31,
1995. These financial statements are the responsibility of the management of
Chrysler Financial Corporation. 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.
As described in Note 1, these financial statements were prepared on the basis
of cash receipts and disbursements, which is a comprehensive basis of
accounting other than generally accepted accounting principles.
In our opinion, such financial statements present fairly, in all material
respects, the assets, liabilities and equity arising from cash transactions of
the CARCO Auto Loan Master Trust as of December 31, 1995 and 1994, and its
cash receipts and disbursements for each of the three years in the period
ended December 31, 1995 on the basis of accounting described in Note 1.
/s/ Deloitte & Touche LLP
January 18, 1996
- ---------------
Deloitte Touche
Tohmatsu
International
- ---------------
12
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
There is nothing to report with regard to this item.
ITEM 11. EXECUTIVE COMPENSATION
There is nothing to report with regard to this item.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
There is nothing to report with regard to this item.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
There is nothing to report with regard to this item.
PART IV.
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 for CARCO Auto Loan Master Trust as follows:
Statement of Assets, Liabilities and Equity - December 31, 1995
and 1994 (page 5 of this report)
Statement of Cash Receipts and Disbursements for the three years
ended December 31, 1995, 1994 & 1993 (page 6 of this report)
Notes to financial statements (pages 7-11 of this report)
Independent Auditors' Report (page 12 of this report)
13
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
AND REPORTS ON FORM 8-K - continued
2. Financial Statement Schedules
All financial statement schedules have been omitted because the
information to be provided therein is included in the financial
statements or the notes thereto.
3. Exhibits
(a) The following exhibits are filed as a part of this report:
Exhibit No.
3-A Certificate of Incorporation of U.S. Auto Receivables
Company. Filed as Exhibit 3.1 to Registration Statement
No. 33-41177 and incorporated herein by reference.
3-B By-laws of U.S. Auto Receivables Company. Filed as Exhibit
3-B to the Trust's Annual Report on Form 10-K for the year
ended December 31, 1991, and incorporated herein by
reference.
4-A 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. Filed
as Exhibit 2 to the Trust's Registration Statement on Form
8-A dated July 31, 1991, and incorporated herein by
reference.
4-B Series 1991-1 Supplement to the Pooling and Servicing
Agreement, dated as of May 31, 1991, among Chrysler Credit
Corporation, as Servicer, Chrysler Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust
Company, as Trustee. Filed as Exhibit 3 to the Trust's
Registration Statement on Form 8-A dated July 31, 1991,
and incorporated herein by reference.
4-C Series 1991-2 Supplement to the Pooling and Servicing
Agreement, dated as of June 30, 1991, among Chrysler
Credit Corporation, as Servicer, Chrysler Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust
Company, as Trustee. Filed as Exhibit 3 to the Trust's
Registration Statement on Form 8-A dated November 18,
1991, and incorporated herein by reference.
4-D Series 1991-3 Supplement to the Pooling and Servicing
Agreement, dated as of June 30, 1991, among Chrysler
Credit Corporation, as Servicer, Chrysler Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust
Company, as Trustee. Filed as Exhibit 3 to the Trust's
Registration Statement on Form 8-A dated November 18,
1991, and incorporated herein by reference.
4-E Series 1991-4 Supplement, dated as of September 30, 1991,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
December 20, 1991, and incorporated herein by reference.
14
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
AND REPORTS ON FORM 8-K (continued)
4-F Series A Supplement, dated as of November 30, 1991, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-F to the
Trust's Annual Report on Form 10-K for the year ended
December 31, 1991, and incorporated herein by reference.
4-G First Amendment, dated as of November 8, 1991, to the
Series 1991-2 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. Filed as Exhibit 4-G to
the Trust's Annual Report on Form 10-K for the year ended
December 31, 1991, and incorporated herein by reference.
4-H 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. Filed as Exhibit 4-H to
the Trust's Quarterly Report on Form 10-Q for the period
ended March 31, 1992, and incorporated herein by
reference.
4-I Series B Supplement, dated as of March 1, 1992, among U.S.
Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-I to the
Trust's Quarterly Report on Form 10-Q for the period ended
March 31, 1992, and incorporated herein by reference.
4-J Series C Supplement, dated as of May 1, 1992, among U.S.
Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-J to the
Trust's Quarterly Report on Form 10-Q for the period ended
June 30, 1992, and incorporated herein by reference.
4-K First Amendment dated as of August 6, 1992 to the Pooling
and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to U.S. Auto
Receivables Company ("USA") on August 8, 1991, among USA,
as Seller, Chrysler Credit Corporation, as Servicer and
Manufacturers and Traders Trust Company, as Trustee. Filed
as Exhibit 2.2 to the Trust's Registration Statement on
Form 8-A dated September 14, 1992, and incorporated herein
by reference.
4-L Series 1992-1 Supplement dated as of July 1, 1992, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 3 to the
Trust's Registration Statement on Form 8-A dated September
14, 1992, and incorporated herein by reference.
15
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
AND REPORTS ON FORM 8-K (continued)
4-M 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.
Filed as Exhibit 4-M to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-N Second Amendment dated as of August 24, 1992 to the Series
1991-2 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.
Filed as Exhibit 4-N to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-O 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.
Filed as Exhibit 4-O to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-P First Amendment dated as of August 24, 1992 to the Series
1991-4 Supplement dated as of September 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.
Filed as Exhibit 4-P to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-Q Series 1992-2 Supplement 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. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
October 30, 1992, and incorporated herein by reference.
16
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
AND REPORTS ON FORM 8-K (continued)
4-R 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. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated March
15, 1993, and incorporated herein by reference.
4-S 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. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
December 6, 1993, and incorporated herein by reference.
4-T Second Amendment dated as of September 21, 1993, to
Pooling and Servicing Agreement dated as of May 31, 1991,
as assigned by Chrysler Auto Receivables Company to U.S.
Auto Receivables Company ("USA") on August 8, 1991, among
USA, as Seller, Chrysler Credit Corporation, as Servicer,
and Manufacturers and Traders Trust Company, as Trustee.
Filed as Exhibit 4.3 to USA's Registration Statement on
Form S-1 (File No. 33-70144) and incorporated herein by
reference.
4-U Series 1994-1 Supplement dated as of September 30, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
November 23, 1994, and incorporated herein by reference.
4-V Series 1994-2 Supplement dated as of October 31, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
December 22, 1994, and incorporated herein by reference.
4-W Series 1994-3 Supplement dated as of November 30, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 4-W to
the Trust's Annual Report on Form 10-K for the year ended
December 31, 1994, and incorporated herein by reference.
4-X Series 1995-1 Supplement dated as of December 31, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
January 19, 1995, and incorporated herein by reference.
4-Y Series 1995-2 Supplement dated as of February 28, 1995,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated March
27, 1995, and incorporated herein by reference.
17
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
AND REPORTS ON FORM 8-K (continued)
4-Z Series 1995-3 Supplement dated as of April 30, 1995, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-Z to the
Trust's Quarterly Report on Form 10-Q for the period ended
June 30, 1995, and incorporated herein by reference.
4-AA Series 1995-4 Supplement dated as of April 30, 1995, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-AA to the
Trust's Quarterly Report on Form 10-Q for the period ended
June 30, 1995, and incorporated herein by reference.
4-BB Series 1995-4A Supplement dated as of April 30, 1995,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 4-BB
to the Trust's Quarterly Report on Form 10-Q for the
period ended June 30, 1995, and incorporated herein by
reference.
4-CC Series 1995-5 Supplement dated as of November 30, 1995,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee, and joined in by
Societe Generale, Chicago Branch, as Agent.
27 Financial Data Schedule.
(b) No reports on Form 8-K were filed by the Trust during the
last quarter of the period covered by this report.
18
CARCO AUTO LOAN MASTER TRUST
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.
CARCO Auto Loan Master Trust (Registrant)
By: Chrysler Financial Corporation, as Servicer
-------------------------------------------
Date: March 28, 1996 By: s/T. F. Gilman
-------------------------------------------
T. F. Gilman, Vice President and Controller
Principal Accounting Officer
19
CARCO AUTO LOAN MASTER TRUST
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- ------- ----------------------
3-A Certificate of Incorporation of U.S. Auto Receivables
Company. Filed as Exhibit 3.1 to Registration Statement
No. 33-41177 and incorporated herein by reference.
3-B By-laws of U.S. Auto Receivables Company. Filed as Exhibit
3-B to the Trust's Annual Report on Form 10-K for the year
ended December 31, 1991, and incorporated herein by
reference.
4-A 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. Filed
as Exhibit 2 to the Trust's Registration Statement on Form
8-A dated July 31, 1991, and incorporated herein by
reference.
4-B Series 1991-1 Supplement to the Pooling and Servicing
Agreement, dated as of May 31, 1991, among Chrysler Credit
Corporation, as Servicer, Chrysler Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust
Company, as Trustee. Filed as Exhibit 3 to the Trust's
Registration Statement on Form 8-A dated July 31, 1991,
and incorporated herein by reference.
4-C Series 1991-2 Supplement to the Pooling and Servicing
Agreement, dated as of June 30, 1991, among Chrysler
Credit Corporation, as Servicer, Chrysler Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust
Company, as Trustee. Filed as Exhibit 3 to the Trust's
Registration Statement on Form 8-A dated November 18,
1991, and incorporated herein by reference.
4-D Series 1991-3 Supplement to the Pooling and Servicing
Agreement, dated as of June 30, 1991, among Chrysler
Credit Corporation, as Servicer, Chrysler Auto Receivables
Company, as Seller, and Manufacturers and Traders Trust
Company, as Trustee. Filed as Exhibit 3 to the Trust's
Registration Statement on Form 8-A dated November 18,
1991, and incorporated herein by reference.
4-E Series 1991-4 Supplement, dated as of September 30, 1991,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
December 20, 1991, and incorporated herein by reference.
E-1
CARCO AUTO LOAN MASTER TRUST
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- ------- ----------------------
4-F Series A Supplement, dated as of November 30, 1991, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-F to the
Trust's Annual Report on Form 10-K for the year ended
December 31, 1991, and incorporated herein by reference.
4-G First Amendment, dated as of November 8, 1991, to the
Series 1991-2 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. Filed as Exhibit 4-G to
the Trust's Annual Report on Form 10-K for the year ended
December 31, 1991, and incorporated herein by reference.
4-H 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. Filed as Exhibit 4-H to
the Trust's Quarterly Report on Form 10-Q for the period
ended March 31, 1992, and incorporated herein by
reference.
4-I Series B Supplement, dated as of March 1, 1992 among U.S.
Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-I to the
Trust's Quarterly Report on Form 10-Q for the period ended
March 31, 1992, and incorporated herein by reference.
4-J Series C Supplement, dated as of May 1, 1992, among U.S.
Auto Receivable Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-J to the
Trust's Quarterly Report on Form 10-Q for the period ended
June 30, 1992, and incorporated herein by reference.
E-2
CARCO AUTO LOAN MASTER TRUST
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- ------- ----------------------
4-K First Amendment dated as of August 6, 1992 to the Pooling
and Servicing Agreement dated as of May 31, 1991, as
assigned by Chrysler Auto Receivables Company to U.S. Auto
Receivables Company ("USA") on August 8, 1991, among USA,
as Seller, Chrysler Credit Corporation, as Servicer and
Manufacturers and Traders Trust Company, as Trustee. Filed
as Exhibit 2.2 to the Trust's Registration Statement on
Form 8-A dated September 14, 1992, and incorporated herein
by reference.
4-L Series 1992-1 Supplement dated as of July 1, 1992, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 3 to the
Trust's Registration Statement on Form 8-A dated September
14, 1992, and incorporated herein by reference.
4-M 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.
Filed as Exhibit 4-M to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-N Second Amendment dated as of August 24, 1992 to the Series
1991-2 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.
Filed as Exhibit 4-N to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
E-3
CARCO AUTO LOAN MASTER TRUST
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- ------- ----------------------
4-O 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.
Filed as Exhibit 4-O to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-P First Amendment dated as of August 24, 1992 to the Series
1991-4 Supplement dated as of September 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.
Filed as Exhibit 4-P to the Trust's Quarterly Report on
Form 10-Q for the period ended September 30, 1992, and
incorporated herein by reference.
4-Q Series 1992-2 Supplement 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. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
October 30, 1992, and incorporated herein by reference.
4-R 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. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated March
15, 1993, and incorporated herein by reference.
E-4
CARCO AUTO LOAN MASTER TRUST
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- ------- ----------------------
4-S 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. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
December 6, 1993, and incorporated herein by reference.
4-T Second Amendment dated as of September 21, 1993, to
Pooling and Servicing Agreement dated as of May 31, 1991,
as assigned by Chrysler Auto Receivables Company to U.S.
Auto Receivables Company ("USA") on August 8, 1991, among
USA, as Seller, Chrysler Credit Corporation, as Servicer,
and Manufacturers and Traders Trust Company, as Trustee.
Filed as Exhibit 4.3 to USA's Registration Statement on
Form S-1 (File No. 33-70144) and incorporated herein by
reference.
4-U Series 1994-1 Supplement dated as of September 30, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
November 23, 1994, and incorporated herein by reference.
4-V Series 1994-2 Supplement dated as of October 31, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
December 22, 1994, and incorporated herein by reference.
4-W Series 1994-3 Supplement dated as of November 30, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 4-W to
the Trust's Annual Report on Form 10-K for the year ended
December 31, 1994, and incorporated herein by reference.
4-X Series 1995-1 Supplement dated as of December 31, 1994,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 3 to
the Trust's Registration Statement on Form 8-A dated
January 19, 1995, and incorporated herein by reference.
E-5
CARCO AUTO LOAN MASTER TRUST
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- ------- ----------------------
4-Y Series 1995-2 Supplement dated as of February 28, 1995,
among U.S. Auto Receivables Company, as Seller,
Chrysler Credit Corporation, as Servicer, and
Manufacturers and Traders Trust Company, as Trustee.
Filed as Exhibit 3 to the Trust's Registration
Statement on Form 8-A dated March 27, 1995, and
incorporated herein by reference.
4-Z Series 1995-3 Supplement dated as of April 30, 1995, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-Z to the
Trust's Quarterly Report on Form 10-Q for the period ended
June 30, 1995, and incorporated herein by reference.
4-AA Series 1995-4 Supplement dated as of April 30, 1995, among
U.S. Auto Receivables Company, as Seller, Chrysler Credit
Corporation, as Servicer, and Manufacturers and Traders
Trust Company, as Trustee. Filed as Exhibit 4-AA to the
Trust's Quarterly Report on Form 10-Q for the period ended
June 30, 1995, and incorporated herein by reference.
4-BB Series 1995-4A Supplement dated as of April 30, 1995,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee. Filed as Exhibit 4-BB
to the Trust's Quarterly Report on Form 10-Q for the
period ended June 30, 1995, and incorporated herein by
reference.
4-CC Series 1995-5 Supplement dated as of November 30, 1995,
among U.S. Auto Receivables Company, as Seller, Chrysler
Credit Corporation, as Servicer, and Manufacturers and
Traders Trust Company, as Trustee, and joined in by
Societe Generale, Chicago Branch, as Agent.
27 Financial Data Schedule.
E-6