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CAPITAL ONE MASTER TRUST (RECEIVABLES)
MONTHLY PERIOD : DECEMBER 1997
Beginning of the Month Principal Receivables : 10,081,060,304.58
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Beginning of the Month Finance Charge Receivables : 327,146,607.65
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Beginning of the Month Discounted Receivables : 0.00
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Beginning of the Month Total Receivables: 10,408,206,912.23
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Removed Principal Receivables : 0.00
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Removed Finance Charge Receivables : 0.00
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Removed Total Receivables : 0.00
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Additional Principal Receivables : 0.00
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Additional Finance Charge Receivables : 0.00
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Additional Total Receivables : 0.00
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Discounted Receivables Generated this Period 0.00
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End of the Month Principal Receivables : 9,935,858,214.17
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End of the Month Finance Charge Receivables : 317,233,973.67
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End of the Month Discounted Receivables : 0.00
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End of the Month Total Receivables : 10,253,092,187.84
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Excess Funding Account Balance 0.00
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Adjusted Invested Amount of all Master Trust Series 8,995,223,575.10
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End of the Month Seller Percentage 9.467070%
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CAPITAL ONE MASTER TRUST (DELINQUENCIES AND LOSSES)
MONTHLY PERIOD : DECEMBER 1997 ACCOUNTS RECEIVABLES
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End of the Month Delinquencies :
30 - 59 Days Delinquent 163,749 252,186,096.47
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60 - 89 Days Delinquent 123,165 172,537,628.37
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90 + Days Delinquent 161,298 291,212,786.26
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Total 30 + Days Delinquent 448,212 715,936,511.10
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Delinquencies 30 + Days as a Percent of End of the Month Total Receivables 6.98%
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Defaulted Accounts During the Month 79,290 (1) 110,043,705.99
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Annualized Default Rate as a Percent of Beginning of the Month Principal Receivables (1) 13.10%
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(1) During the 4th Quarter of 1997, Capital One changed the methodology as to
the timing of charging-off credit card loans. Capital One now charges-off credit
card loans at 180 days past due versus the prior practice of charging-off credit
card loans during the first billing cycle after becoming 180 days past due. The
change in methodology amounted to $40,961,451.31/4.88% of additional December
charge-offs and is referred to as the Transitional Defaulted Amount for the
purposes of the Servicing Reports.
Proforma Defaulted Accounts (which excludes Transitional Defaulted Amount) 34,711 69,082,254.68
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Proforma Annualized Default Rate as a Percent of Beginning of the Month
Principal Receivables 8.22%
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Total Collections and Gross Payment Rate 1,085,290,962.01 10.43%
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Collections of Principal Receivables and Principal Payment Rate 896,578,577.48 8.89%
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Prior Month Billed Finance Charge and Fees 167,665,559.59
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Amortized AMF Income 9,646,111.55
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Interchange Collected 9,325,695.99
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Recoveries of Charged Off Accounts 5,889,450.67
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Collections of Discounted Receivables 0.00
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Collections of Finance Charge Receivables and Annualized Yield 192,526,817.80 22.92%
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CAPITAL ONE MASTER TRUST (AMF COLLECTIONS)
MONTHLY PERIOD : DECEMBER 1997
Beginning Unamortized AMF Balance 51,172,103.95
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+ AMF Slug for Added Accounts 0.00
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+ AMF Collections 5,831,678.28
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- Amortized AMF Income 9,646,111.55
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Ending Unamortized AMF Balance 47,357,670.68
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CAPITAL ONE MASTER TRUST (DISCOUNTED RECEIVABLES)
MONTHLY PERIOD : DECEMBER 1997
Gross Principal Payment Rate 8.89%
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May 17, 1994 3% Discount of Addition 50,184,973.92
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Total Discounted Receivables Collections as of Beginning of Month 50,184,973.92
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Collections of Discounted Receivables Current Month 0.00
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Discounted Receivables to be Collected 0.00
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/s/ Douglas C.H. Adamson
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Douglas C.H. Adamson
Securitization Manager
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