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MONTHLY STATEMENT TO CERTIFICATEHOLDERS
SERIES 1996-A
CHEVY CHASE MASTER CREDIT CARD TRUST II
RECEIVABLES
Beginning of the Month Principal Receivables: $ 1,976,537,252.73
Beginning of the Month Finance Charge Receivables: $ 71,531,661.77
Beginning of the Month Discounted Receivables: $ 0.00
Beginning of the Month Total Receivables: $ 2,048,068,914.50
Removed Principal Receivables: $ 0.00
Removed Finance Charge Receivables: $ 0.00
Removed Total Receivables: $ 0.00
Additional Principal Receivables: $ 0.00
Additional Finance Charge Receivables: $ 0.00
Additional Total Receivables: $ 0.00
Discounted Receivables Generated this Period: $ 0.00
End of the Month Principal Receivables: $ 1,975,138,914.51
End of the Month Finance Charge Receivables: $ 73,145,204.12
End of the Month Discounted Receivables: $ 0.00
End of the Month Total Receivables: $ 2,048,284,118.63
Special Funding Account Balance $ 0.00
Aggregate Invested Amount (all Master Trust Series) $ 1,820,000,000.00
End of the Month Transferor Amount $ 155,138,914.51
End of the Month Transferor Percentage 7.85%
DELINQUENCIES AND LOSSES
End of the Month Delinquencies: RECEIVABLES
30-59 Days Delinquent $ 39,749,298.40
60-89 Days Delinquent $ 27,674,459.29
90+ Days Delinquent $ 54,597,151.02
Total 30+ Days Delinquent $ 122,020,908.71
Delinquent Percentage 5.96%
Defaulted Accounts During the Month $ 20,071,876.67
Annualized Default Percentage 12.19%
Principal Collections 200,552,624.29
Principal Payment Rate 10.15%
Total Payment Rate 11.37%
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INVESTED AMOUNTS
Class A Initial Invested Amount $ 369,000,000.00
Class B Initial Invested Amount $ 38,250,000.00
Class C Initial Invested Amount $ 42,750,000.00
INITIAL INVESTED AMOUNT $ 450,000,000.00
Class A Invested Amount $ 369,000,000.00
Class B Invested Amount $ 38,250,000.00
Class C Invested Amount $ 42,750,000.00
INVESTED AMOUNT $ 450,000,000.00
FLOATING ALLOCATION PERCENTAGE 22.77%
PRINCIPAL ALLOCATION PERCENTAGE 22.77%
MONTHLY SERVICING FEE $ 750,000.00
INVESTOR DEFAULT AMOUNT $ 4,570,366.32
CLASS A AVAILABLE FUNDS--
CLASS A FLOATING PERCENTAGE 82.00%
Class A Finance Charge Collections $ 6,482,249.27
Other Amounts $ 0.00
TOTAL CLASS A AVAILABLE FUNDS $ 6,482,249.27
Class A Monthly Interest $ 1,785,421.88
Class A Servicing Fee $ 615,000.00
Class A Investor Default Amount $ 3,747,700.38
TOTAL CLASS A EXCESS SPREAD $ 334,127.01
REQUIRED AMOUNT $ 0.00
CLASS B AVAILABLE FUNDS
CLASS B FLOATING PERCENTAGE 8.50%
Class B Finance Charge Collections $ 671,940.47
Other Amounts $ 0.00
TOTAL CLASS B AVAILABLE FUNDS $ 671,940.47
Class B Monthly Interest $ 192,246.09
Class B Servicing Fee $ 63,750.00
TOTAL CLASS B EXCESS SPREAD $ 415,944.38
CLASS B INVESTOR DEFAULT AMOUNT 388,481.14
CLASS B REQUIRED AMOUNT 388,481.14
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EXCESS SPREAD --
TOTAL EXCESS SPREAD $ 1,429,813.69
Excess Spread Applied to Class A Required Amount $ 0.00
Excess Spread Applied to Class A Investor
Charge Offs $ 0.00
Excess Spread Applied to Class B
Required Amount $ 388,481.14
Excess Spread Applied to Reductions of $ 0.00
Class B Invested Amount
Excess Spread Applied to Class C Required Amount $ 671,313.71
Excess Spread Applied to Reductions of
Class C Invested Amount $ 0.00
Excess Spread Applied to Monthly Cash $ 93,750.00
Collateral Fee
Excess Spread Applied to Cash Collateral $ 0.00
Account
Excess Spread Applied to Spread Account $ 276,268.84
Excess Spread Applied to Reserve Account $ 0.00
Excess Spread Applied to other amounts owed $ 0.00
Cash Collateral Depositor
Excess Spread Applied to other amounts owed to
Spread Account Residual Interest Holders $ 0.00
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE FOR
GROUP I $ 0.00
EXCESS FINANCE CHARGES COLLECTIONS -- GROUP I --
TOTAL EXCESS FINANCE CHARGE COLLECTIONS FOR ALL
SERIES IN GROUP I $ 0.00
SERIES 1996-A EXCESS FINANCE CHARGE COLLECTIONS --
EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO $ 0.00
SERIES 1996-A
Excess Finance Charge Collections Applied to
Class A Required Amount $ 0.00
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Excess Finance Charge Collections Applied to
Class A Investor Charge Offs $ 0.00
Excess Finance Charge Collections Applied to
Class B Required Amount $ 0.00
Excess Finance Charge Collections Applied to
Reductions of Class B Invested Amount $ 0.00
Excess Finance Charge Collections Applied to
Class C Required Amount $ 0.00
Excess Finance Charge Collections Applied to
Reductions of Class C Invested Amount $ 0.00
Excess Finance Charge Collections Applied to
Monthly Cash Collateral Fee $ 0.00
Excess Finance Charge Collections Applied to
other amounts owed Cash Collateral Depositor $ 0.00
Excess Finance Charge Collections Applied to
other amounts owed to Spread Account Residual Interest
Holders $ 0.00
YIELD AND BASE RATE --
Base Rate (Current Month) 7.91%
Base Rate (Prior Month) 7.94%
Base Rate (Two Months Ago) 7.87%
THREE MONTH AVERAGE BASE RATE 7.91%
Portfolio Yield (Current Month) 8.89%
Portfolio Yield (Prior Month) 13.37%
Portfolio Yield (Two Months Ago) 11.06%
THREE MONTH AVERAGE PORTFOLIO YIELD 11.11%
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PRINCIPAL COLLECTIONS --
TOTAL PRINCIPAL COLLECTIONS $ 45,665,832.54
REALLOCATED PRINCIPAL COLLECTIONS
Allocable to Class C Interests $ 0.00
Allocable to Class B Certificates $ 0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $ 0.00
SERIES
CLASS A SCHEDULED AMORTIZATION --
Controlled Amortization Amount $ 0.00
Deficit Controlled Amortization Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
CLASS B SCHEDULED AMORTIZATION --
Controlled Accumulation Amount $ 0.00
Deficit Controlled Accumulation Amount $ 0.00
CONTROLLED DEPOSIT AMOUNT $ 0.00
EXCESS PRINCIPAL COLLECTIONS ELIGIBLE FOR PRINCIPAL $ 45,665,832.54
SHARING
INVESTOR CHARGE OFFS --
CLASS A INVESTOR CHARGE OFFS $ 0.00
CLASS B INVESTOR CHARGE OFFS $ 0.00
CLASS C INVESTOR CHARGE OFFS $ 0.00
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $ 0.00
PREVIOUS CLASS B CHARGE OFFS REIMBURSED $ 0.00
PREVIOUS CLASS C CHARGE OFFS REIMBURSED $ 0.00
CASH COLLATERAL ACCOUNT --
Required Cash Collateral Amount $ 13,500,000.00
Available Cash Collateral Amount $ 13,500,000.00
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TOTAL DRAW AMOUNT $ 0.00
CASH COLLATERAL ACCOUNT SURPLUS $ 0.00
CHEVY CHASE BANK, F.S.B.,
as Servicer
Mark A. Holles
By: ________________________
Mark A. Holles
Vice President