1
SERVICER'S CERTIFICATE
(PURSUANT TO SECTION 3.9
OF THE POOLING AND SERVICING
AGREEMENT, DATED JUNE 1, 1996)
BANC ONE AUTO TRUST 1996-B
Interest Period October 15, 1996 through November 14, 1996
Collection Period October 1, 1996 through October 31, 1996
The undersigned officer of Bank One, Arizona, N.A., pursuant to the Pooling and
Servicing Agreement, as Servicer, does hereby certify to the best of his
knowledge and belief that the attached information is true and correct.
Signed by: Tom Lewis Attested: Heather Smith
Tom Lewis Accounting Specialist
Vice President Bank One, Arizona,
N.A.
Bank One, Arizona, N.A.
2
BANC ONE AUTO GRANTOR PAGE 1
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
A. ORIGINAL DEAL PARAMETER INPUTS
- ---------------------------------
(A) Total Receivable Balance $305,686,731.00
(B) Total Certificate Balance $305,686,731.00
(C) Class A Certificates
(i) Class A Percentage 96.00%
(ii) Original Class A Principal Balance $293,459,000.00
(iii) Class A Pass-Through Rate 6.55%
(D) Class B Certificates
(i) Class B Percentage 4.00%
(ii) Original Class B Principal Balance $12,227,731.00
(iii) Class B Pass-Through Rate 6.70%
(E) Servicing Fee Rate (per annum) 1.00%
(F) Weighted Average Coupon (WAC) 12.15%
(G) Weighted Average Original Maturity (WAOM) 60.12 months
(H) Weighted Average Remaining Maturity (WAM) 45.97 months
(I) Number of Receivables 31,595
(J) Reserve Fund
(i) Reserve Fund Initial Deposit Percentage (of initial Certificate Balance) 1.50%
(ii) Reserve Fund Initial Deposit $4,585,300.97
(iii) Specified Reserve Balance:
(a) On any Distribution Date: The greater of J(iii)(b or c) if 1.75% charge-off
and delinquency triggers not hit - otherwise J(iii)(d)
(b) Percent of Initial Certificate Balance 1.00%
(c) Percent of Remaining Certificate Balance 3.25%
(d) Trigger Percent of Remaining Certificate Balance 8.00%
3
BANC ONE AUTO GRANTOR PAGE 2
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
- ------------------------------------------------
(A) Total Receivable Balance $251,561,690.71
(B) Total Certificate Balance $251,561,690.71
(C) Total Certificate Pool Factor 0.8229395
(D) Class A Certificates
(i) Class A Certificate Balance $241,499,007.73
(ii) Class A Certificate Pool Factor 0.8229395
(E) Class B Certificates
(i) Class B Certificate Balance $10,062,682.98
(ii) Class B Certificate Pool Factor 0.8229396
(F) Reserve Fund Balance 8,175,754.97
(G) Cumulative Net Losses for All Prior Periods 1,465,634.61
(H) Charge-off Rate for Second Preceding Period 1.02%
(I) Charge-off Rate for Preceding Period 1.35%
(J) Delinquency Percentage for Second Preceding Period 0.32%
(K) Delinquency Percentage for Preceding Period 0.37%
(L) Weighted Average Coupon (WAC) 12.130%
(M) Weighted Average Remaining Maturity (WAM) 43.05 months
(N) Number of Receivables 28,154
C. INPUTS FROM THE MAINFRAME
- ----------------------------
(A) Simple Interest Receivables Principal
(i) Principal Collections 12,719,727.77
(ii) Prepayments in Full 0.00
(iii) Repurchased Loan Proceeds Related to Principal 0.00
(iv) Other Refunds Related to Principal 0.00
(B) Simple Interest Receivables Interest
(i) Interest Collections 2,537,759.30
(ii) Repurchased Loan Proceeds Related to Interest 0.00
(C) Weighted Average Coupon (WAC) 12.13%
(D) Weighted Average Remaining Maturity (WAM) 42.33 months
(E) Remaining Number of Receivables 27,231
(F) Delinquent Receivables Dollar Amount # Units
------------- --------
(i) 30-59 Days Delinquent 3,165,194 1.33% 353
(ii) 60-89 Days Delinquent 870,664 0.37% 87
(iii) 90 Days or More Delinquent 213,782 0.09% 20
D. INPUTS DERIVED FROM OTHER SOURCES
- ------------------------------------
(A) Reserve Fund Investment Income 36,106.20
(B) Collection Account Investment Income 0.00
(C) Realized Losses for Collection Period:
(i) Charge-offs for current Collection Period - Principal 708,501.67
(ii) Realized Losses for Collection Period (B)(i)-(C)(i) 387,130.13
(D) Net Loss and Liquidated Receivables Information
(i) Liquidation Proceeds Related to Principal 321,371.54
(ii) Liquidation Proceeds Related to Interest 0.00
(iii) Recoveries from Prior Month Charge Offs 269,404.99
4
BANC ONE AUTO GRANTOR PAGE 3
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
E. COLLECTIONS
- --------------
Interest Collections:
(A) Interest Payments Received 2,537,759.30
(B) Liquidation Proceeds Related to Interest 0.00
(C) Repurchased Loan Proceeds 0.00
(D) Recoveries from Prior Month Charge Offs 269,404.99
------------
(E) Interest Collections 2,807,164.29
Principal Collections:
(F) Principal Payments Received $12,719,727.77
(G) Liquidation Proceeds Related to Principal 321,371.54
(H) Repurchased Loan Proceeds 0.00
-------------
(I) Principal Collections 13,041,099.31
(J) Total Collections $15,848,263.60
F. DISTRIBUTABLE AMOUNTS
- ------------------------
(A) Servicing Fee :
(i) Servicing Fee $209,634.74
(ii) Prior Collection Period unpaid Servicing Fees 0.00
------------
(iii) Total Servicing Fee $209,634.74
Interest:
(B) Class A Certificates
(i) Class A Monthly Interest $1,318,182.08
(ii) Class A prior period Interest Carryover Shortfall 0.00
------------
(iii) Class A Interest Distribution $1,318,182.08
(C) Class B Certificates
(i) Class B Monthly Interest $56,183.31
(ii) Class B prior period Interest Carryover Shortfall 0.00
------------
(iii) Class B Interest Distribution $56,183.31
(D) Total Certificate Interest Distribution $1,374,365.40
(E) Total Certificate Interest Distribution plus Total Servicing Fee $1,584,000.14
F. DISTRIBUTABLE AMOUNTS
- ------------------------
Principal:
(F) Principal Collections $13,041,099.31
(G) Realized Losses 387,130.13
-------------
(H) Total Monthly Principal $13,428,229.44
(I) Class A Certificates
(i) Class A Monthly Principal 12,891,088.76
(ii) Class A prior period Principal Carryover Shortfall 0.00
-------------
(iii) Class A Principal Distribution 12,891,088.76
(J) Class B Certificates
(i) Class B Monthly Principal 537,140.68
(ii) Class B prior period Principal Carryover Shortfall 0.00
-------------
(iii) Class B Principal Distribution 537,140.68
(K) Total Principal Distribution 13,428,229.44
(L) Total Interest and Principal Distribution Amounts 15,012,229.58
plus Servicing Fee
5
BANC ONE AUTO GRANTOR PAGE 4
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
G. DISTRIBUTIONS
- ----------------
(A) Total Interest Collections available to be distributed 2,807,164.29
(B) Class B Percentage of Principal Collections 521,655.14
(C) Servicing Fee:
(i) Total Servicing Fee 209,634.74
(ii) Servicing Fee paid 209,634.74
------------
(iii) Unpaid Servicing Fee 0.00
(D) Total Interest Collections available to be distributed after Servicing Fee paid 2,597,529.55
Interest
(E) Class A Certificates
(i) Class A Interest Distribution 1,318,182.08
(ii) Class A Interest Distribution paid from Interest Collections after Servicing Fee 1,318,182.08
(iii) Total Interest Collections available after Class A Interest Distribution paid 1,279,347.46
(iv) Class A Interest Distribution remaining to be paid 0.00
(v) Class A Interest Distribution paid from Class B Percentage of Principal Collections 0.00
(vi) Class A Interest Distribution remaining to be paid 0.00
(vii) Class A Interest Distribution paid from Reserve Fund 0.00
(viii) Class A Interest Carryover Shortfall 0.00
(ix) Class A Interest Distribution paid 1,318,182.08
(F) Class B Certificates
(i) Class B Interest Distribution 56,183.31
(ii) Class B Interest Distribution paid from Interest Collections after Class A Interest Distribution 56,183.31
(iii) Total Interest Collections available after Class B Interest Distribution paid 1,223,164.15
(iv) Class B Interest Distribution remaining to be paid 0.00
(v) Class B Interest Distribution paid from Reserve Fund 0.00
(vi) Class B Interest Carryover Shortfall 0.00
(vii) Class B Interest Distribution paid 56,183.31
(G) Total Interest Paid 1,374,365.40
(H) Total Interest and Servicing Fee Paid 1,584,000.14
(I) Total Interest Collections available after Servicing Fee and Class A and Class B Interest Distribution paid 1,223,164.15
Total Collections available to be distributed:
(J) Total Principal Collections 13,041,099.31
(K) Excess Interest 1,223,164.15
(L) Less: Class B Percentage of Principal Collections used to pay Class A Interest Distribution 0.00
(M) Total Collections available to be distributed as principal 14,264,263.46
Principal:
(N) Class A Certificates
(i) Class A Principal Distribution 12,891,088.76
(ii) Class A Principal Distribution paid from total Collections available to be distributed 12,891,088.76
(iii) Total Collections available after Class A Principal Distribution paid 1,373,174.70
(iv) Class A Principal Distribution remaining to be paid 0.00
(v) Class A Principal Distribution paid from Reserve Fund 0.00
(vi) Class A Principal Carryover Shortfall 0.00
(vii) Total Class A Principal Distribution paid 12,891,088.76
(O) Class B Certificates
(i) Class B Principal Distribution 537,140.68
(ii) Class B Principal Distribution paid from total Collections available to be distributed 537,140.68
(iii) Total Collections available after Class B Principal Distribution paid 836,034.02
(iv) Class B Principal Distribution remaining to be paid 0.00
(v) Class B Principal Distribution paid from Reserve Fund 0.00
(vi) Class B Principal Carryover Shortfall 0.00
(vii) Total Class B Principal Distribution paid 537,140.68
(P) Total Excess Cash to the Reserve Fund 836,034.02
6
BANC ONE AUTO GRANTOR PAGE 5
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
H. POOL BALANCE AND PORTFOLIO INFORMATION
- -----------------------------------------
Beginning End
of Period of Period
----------------- ------------------
(A) Balances and Pool Factors
(i) Aggregate Balance of Certificates $251,561,690.71 $238,133,461.27
(ii) Aggregate Certificate Pool Factor 0.8229395 0.7790114
(iii) Class A Principal Balance 241,499,007.73 228,607,918.97
(iv) Class A Pool Factor 0.8229395 0.7790114
(v) Class B Principal Balance 10,062,682.98 9,525,542.30
(vi) Class B Pool Factor 0.8229396 0.7790114
(B) Pool Information
(i) Weighted Average Coupon (WAC) 12.13% 12.13%
(ii) Weighted Average Remaining Maturity (WAM) 43.05 months 42.33 months
(iii) Remaining Number of Receivables 28,154 27,231
(iv) Pool Balance $251,561,690.71 $238,133,461.27
I. RECONCILIATION OF RESERVE ACCOUNT
- ------------------------------------
(A) Beginning Reserve Account Balance 8,175,754.97
(B) Less: Draw to pay Class A Interest Distribution 0.00
(C) Reserve Account Balance after draw 8,175,754.97
(D) Less: Draw to pay Class B Interest Distribution 0.00
(E) Reserve Account Balance after draw 8,175,754.97
(F) Less: Draw to pay Class A Principal Distribution 0.00
(G) Reserve Account Balance after draw 8,175,754.97
(H) Less: Draw to pay Class B Principal Distribution 0.00
(I) Reserve Account Balance after draw 8,175,754.97
(J) Total excess Collections deposited in the Reserve Fund 836,034.02
------------
(K) Reserve Fund Balance 9,011,788.99
(L) Specified Reserve Account Balance 7,739,337.49
(M) Reserve Account Release to Seller 1,272,451.50
------------
(N) Ending Reserve Account Balance 7,739,337.49
============
J. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
- --------------------------------------------
(A) Liquidated Contracts
(i) Liquidation Proceeds Related to Principal $321,371.54
(ii) Liquidation Proceeds Related to Interest 0.00
(iii) Recoveries on Previously Liquidated Contracts 269,404.99
(B) Realized Losses for Collection Period 387,130.13
(C) Charge-off Rate for Collection Period (annualized) 0.58%
(D) Cumulative Net Losses for all Periods 1,852,764.74
(E) Delinquent Receivables
Dollar Amount # Units
------------- - -----
(i) 30-59 Days Delinquent 3,165,194 1.33% 353
(ii) 60-89 Days Delinquent 870,664 0.37% 87
(iii) 90 Days or More Delinquent 213,782 0.09% 20
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BANC ONE AUTO GRANTOR PAGE 6
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
K. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE
- ----------------------------------------------------------
(A) Charge-off Rate
(i) Second Preceding Collection Period 1.02%
(ii) Preceding Collection Period 1.35%
(iii) Current Collection Period 0.58%
(iv) Three Month Average (Avg(i,ii,iii)) 0.98%
(B) Delinquency Percentages
(i) Second Preceding Collection Period 0.32%
(ii) Preceding Collection Period 0.37%
(iii) Current Collection Period 0.46%
(iv) Three Month Average (Avg(i,ii,iii)) 0.38%
(C) Loss and Delinquency Trigger Indicator Trigger was not hit
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BANC ONE AUTO GRANTOR PAGE 7
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
L. STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------
Per $1,000 of
Original Principal
Dollars ($) Balance
------------- --------------------
(A) Amount of distribution allocable to principal:
(i) Class A Certificates 12,891,088.76 43.9280743
(ii) Class B Certificates 537,140.68 43.9280743
Per $1,000 of
Original Principal
(B) Amount of distribution allocable to interest: Dollars ($) Balance
------------- --------------------
(i) Class A Certificates 1,318,182.08 4.4918782
(ii) Class B Certificates 56,183.31 4.5947456
(C) Pool Balance as of the close of business on the last day of the Collection Period $238,133,461.27
---------------
Per $1,000 of
(D) Amount of the Servicing Fee paid to the Servicer with respect to the Original Principal
related Collection Period Dollars ($) Balance
------------- --------------------
(i) Total Servicing Fee 209,634.74
(ii) Class A Percentage of the Servicing Fee 201,249.17 0.6857829
(ii) Class B Percentage of the Servicing Fee 8,385.57 0.6857829
Per $1,000 of
Original Principal
Dollars ($) Balance
------------- --------------------
(E) (i) Class A Interest Carryover Shortfall 0.00 0.0000000
(ii) Class A Principal Carryover Shortfall 0.00 0.0000000
(iii) Class B Interest Carryover Shortfall 0.00 0.0000000
(iv) Class B Principal Carryover Shortfall 0.00 0.0000000
Change with respect to immediately preceding Distribution Date:
(v) Class A Interest Carryover Shortfall 0.00 0.0000000
(vi) Class A Principal Carryover Shortfall 0.00 0.0000000
(vii) Class B Interest Carryover Shortfall 0.00 0.0000000
(viii) Class B Principal Carryover Shortfall 0.00 0.0000000
(F) Pool factors for each class of certificates, after giving effect to all
payments allocated to principal Pool Factor
--------------------
(i) Class A Pool Factor 0.7790114
(ii) Class B Pool Factor 0.7790114
(G) Amount of the aggregate Realized Losses, if any, for such Collection Period ($) $387,130.13
-------------
(H) Aggregate principal balance of all Receivables which were more than 60 days
delinquent as of the close of business on the last day of the preceding Collection Period $1,084,446.55
(I) Amount on deposit in the Reserve Fund on such Distribution Date, after
giving effect to distributions made on such Distribution Date $7,739,337.49
-------------
(J) Aggregate outstanding principal balances for each class of certificates, after
giving effect to all payments allocated to principal Principal Balance
--------------------
(i) Class A Principal Balance 228,607,918.97
(ii) Class B Principal Balance 9,525,542.30
(K) Amount otherwise distributable to the Class B Certificateholders that
is being distributed to the Class A Certificateholders on such Distribution Date $0.00
(L) Aggregate Purchase Amount of Receivables repurchased by the Seller or
purchased by the Servicer with respect to the Related Collection Period ($) $0.00
-------------
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BANC ONE AUTO GRANTOR PAGE 8
TRUST 1996-B
DETERMINATION DATE STATEMENT
COLLECTION PERIOD OCTOBER 1, 1996 THROUGH OCTOBER 30, 1996
DISTRIBUTION DATE NOVEMBER 15, 1996
M. INSTRUCTIONS TO THE TRUSTEE
- ------------------------------
On the Distribution Date, make the following deposits and distributions:
(A) Withdraw from the Collection Account and distribute to the Servicer:
(i) Servicing Fee $209,634.74
(ii) Servicing Fees retained by the Seller 209,634.74
-------------
(iii) Servicing Fees to be distributed to the Seller on the Distribution Date (i-ii) $0.00
-------------
(B) Withdraw from the Collection Account and deposit in the Class A Distribution
Account:
(i) for the Class A Interest Distribution $1,318,182.08
(ii) for the Class A Principal Distribution 12,891,088.76
-------------
(iii) Total (i+ii) $14,209,270.85
--------------
(C) Withdraw from the Collection Account and deposit in the Class B Distribution
Account:
(i) for the Class B Interest Distribution $56,183.31
(ii) for the Class B Principal Distribution 537,140.68
-------------
(iii) Total (i+ii) $593,323.99
--------------
(D) Withdraw excess Collections from the Collection Account and deposit in the Reserve Fund $836,034.02
--------------
(E) Withdraw from the Reserve Fund and deposit in the Class A Distribution
Account:
(i) Amount equal to the excess of the Class A Interest Distribution over the sum of Interest Collections and
the Class B Percentage of Principal Collections $0.00
(ii) Amount equal to the excess of the Class A Principal Distribution over the portion of Principal Collections
and Interest Collections remaining after the distribution of the Class A Interest Distribution and the Class
B Interest Distribution 0.00
------
(iii) Total $0.00
------
(F) Withdraw from the Reserve Fund and deposit in the Class B Distribution
Account:
(i) Amount equal to the excess of the Class B Interest Distribution over the portion of Interest Collections
remaining after the distribution of the Class A Interest Distribution $0.00
(ii) Amount equal to the excess of the Class B Principal Distribution over the portion of Principal Collections
and Interest Collections remaining after the distribution of the Class A Interest Distribution, the Class
B Interest Distribution, and the Class A Principal Distribution 0.00
-----
(iii) Total $0.00
-----