BANC ONE AUTO GRANTOR PAGE 1
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
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%
BANC ONE AUTO GRANTOR PAGE 2
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
- ------------------------------------------------
(A) Total Receivable Balance $216,332,382.39
(B) Total Certificate Balance $216,332,382.39
(C) Total Certificate Pool Factor 0.7076931
(D) Class A Certificates
(i) Class A Certificate Balance $207,678,901.35
(ii) Class A Certificate Pool Factor 0.7076931
(E) Class B Certificates
(i) Class B Certificate Balance $8,653,481.04
(ii) Class B Certificate Pool Factor 0.7076931
(F) Reserve Fund Balance 7,660,522.25
(G) Cumulative Net Losses for All Prior Periods 4,044,053.46
(H) Charge-off Rate for Second Preceding Period 1.83%
(I) Charge-off Rate for Preceding Period 2.41%
(J) Delinquency Percentage for Second Preceding Period 0.45%
(K) Delinquency Percentage for Preceding Period 0.46%
(L) Weighted Average Coupon (WAC) 12.120%
(M) Weighted Average Remaining Maturity (WAM) 41.02 months
(N) Number of Receivables 25,822
C. INPUTS FROM THE MAINFRAME
- ----------------------------
(A) Simple Interest Receivables Principal
(i) Principal Collections 10,064,062.30
(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 2,433,746.44
(ii) Repurchased Loan Proceeds Related to Interest 0.00
(C) Weighted Average Coupon (WAC) 12.11%
(D) Weighted Average Remaining Maturity (WAM) 40.31 months
(E) Remaining Number of Receivables 25,119
(F) Delinquent Receivables Dollar Amount # Units
-------------- --------
(i) 30-59 Days Delinquent 3,450,075 1.68% 395
(ii) 60-89 Days Delinquent 843,752 0.41% 95
(iii) 90 Days or More Delinquent 243,231 0.12% 33
D. INPUTS DERIVED FROM OTHER SOURCES
- ------------------------------------
(A) Reserve Fund Investment Income 31,181.67
(B) Collection Account Investment Income 0.00
(C) Realized Losses for Collection Period:
(i) Charge-offs for current Collection Period - Principal 669,750.40
(ii) Realized Losses for Collection Period (B)(i)-(C)(i) 634,965.06
(D) Net Loss and Liquidated Receivables Information
(i) Liquidation Proceeds Related to Principal 34,785.34
(ii) Liquidation Proceeds Related to Interest 0.00
(iii) Recoveries from Prior Month Charge Offs 365,134.91
BANC ONE AUTO GRANTOR PAGE 3
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
E. COLLECTIONS
- --------------
Interest Collections:
(A) Interest Payments Received 2,433,746.44
(B) Liquidation Proceeds Related to Interest 0.00
(C) Repurchased Loan Proceeds 0.00
(D) Recoveries from Prior Month Charge Offs 365,134.91
--------------
(E) Interest Collections 2,798,881.35
Principal Collections:
(F) Principal Payments Received $10,064,062.30
(G) Liquidation Proceeds Related to Principal 34,785.34
(H) Repurchased Loan Proceeds 0.00
--------------
(I) Principal Collections 10,098,847.64
(J) Total Collections $12,897,728.99
F. DISTRIBUTABLE AMOUNTS
- ------------------------
(A) Servicing Fee:
(i) Servicing Fee $180,276.99
(ii) Prior Collection Period unpaid Servicing Fees 0.00
--------------
(iii) Total Servicing Fee $180,276.99
Interest:
(B) Class A Certificates
(i) Class A Monthly Interest $1,133,580.67
(ii) Class A prior period Interest Carryover Shortfall 0.00
--------------
(iii) Class A Interest Distribution $1,133,580.67
(C) Class B Certificates
(i) Class B Monthly Interest $48,315.27
(ii) Class B prior period Interest Carryover Shortfall 0.00
--------------
(iii) Class B Interest Distribution $48,315.27
(D) Total Certificate Interest Distribution $1,181,895.94
(E) Total Certificate Interest Distribution plus Total Servicing Fee $1,362,172.92
Principal:
(F) Principal Collections $10,098,847.64
(G) Realized Losses 634,965.06
--------------
(H) Total Monthly Principal $10,733,812.70
(I) Class A Certificates
(i) Class A Monthly Principal 10,304,451.00
(ii) Class A prior period Principal Carryover Shortfall 0.00
--------------
(iii) Class A Principal Distribution 10,304,451.00
(J) Class B Certificates
(i) Class B Monthly Principal 429,361.70
(ii) Class B prior period Principal Carryover Shortfall 0.00
--------------
(iii) Class B Principal Distribution 429,361.70
(K) Total Principal Distribution 10,733,812.70
(L) Total Interest and Principal Distribution Amounts 12,095,985.62
plus Servicing Fee
BANC ONE AUTO GRANTOR PAGE 4
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
G. DISTRIBUTIONS
- ----------------
(A) Total Interest Collections available to be distributed 2,798,881.35
(B) Class B Percentage of Principal Collections 403,962.55
(C) Servicing Fee:
(i) Total Servicing Fee 180,276.99
(ii) Servicing Fee paid 180,276.99
--------------
(iii) Unpaid Servicing Fee 0.00
(D) Total Interest Collections available to be distributed after Servicing Fee paid 2,618,604.36
Interest:
(E) Class A Certificates
(i) Class A Interest Distribution 1,133,580.67
(ii) Class A Interest Distribution paid from Interest Collections after Servicing Fee 1,133,580.67
(iii) Total Interest Collections available after Class A Interest Distribution paid 1,485,023.69
(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 1,133,580.67
(F) Class B Certificates
(i) Class B Interest Distribution 48,315.27
(ii) Class B Interest Distribution paid from Interest Collections after Class A Interest Distribution 48,315.27
(iii) Total Interest Collections available after Class B Interest Distribution paid 1,436,708.43
(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 48,315.27
(G) Total Interest Paid 1,181,895.94
(H) Total Interest and Servicing Fee Paid 1,362,172.92
(I) Total Interest Collections available after Servicing Fee and Class A and Class B Interest Distribution paid 1,436,708.43
Total Collections available to be distributed:
(J) Total Principal Collections 10,098,847.64
(K) Excess Interest 1,436,708.43
(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 11,535,556.07
Principal:
(N) Class A Certificates
(i) Class A Principal Distribution 10,304,451.00
(ii) Class A Principal Distribution paid from total Collections available to be distributed 10,304,451.00
(iii) Total Collections available after Class A Principal Distribution paid 1,231,105.07
(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 10,304,451.00
(O) Class B Certificates
(i) Class B Principal Distribution 429,361.70
(ii) Class B Principal Distribution paid from total Collections available to be distributed 429,361.70
(iii) Total Collections available after Class B Principal Distribution paid 801,743.37
(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 429,361.70
(P) Total Excess Cash to the Reserve Fund 801,743.37
BANC ONE AUTO GRANTOR PAGE 5
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
H. POOL BALANCE AND PORTFOLIO INFORMATION
- -----------------------------------------
Beginning End
of Period of Period
---------------- --------------
(A) Balances and Pool Factors
(i) Aggregate Balance of Certificates $216,332,382.39 $205,598,569.69
(ii) Aggregate Certificate Pool Factor 0.7076931 0.6725793
(iii) Class A Principal Balance 207,678,901.35 197,374,450.35
(iv) Class A Pool Factor 0.7076931 0.6725793
(v) Class B Principal Balance 8,653,481.04 8,224,119.34
(vi) Class B Pool Factor 0.7076931 0.6725793
(B) Pool Information
(i) Weighted Average Coupon (WAC) 12.12% 12.11%
(ii) Weighted Average Remaining Maturity (WAM) 41.02 months 40.31 months
(iii) Remaining Number of Receivables 25,822 25,119
(iv) Pool Balance $216,332,382.39 $205,598,569.69
I. RECONCILIATION OF RESERVE ACCOUNT
- ------------------------------------
(A) Beginning Reserve Account Balance 7,660,522.25
(B) Less: Draw to pay Class A Interest Distribution 0.00
(C) Reserve Account Balance after draw 7,660,522.25
(D) Less: Draw to pay Class B Interest Distribution 0.00
(E) Reserve Account Balance after draw 7,660,522.25
(F) Less: Draw to pay Class A Principal Distribution 0.00
(G) Reserve Account Balance after draw 7,660,522.25
(H) Less: Draw to pay Class B Principal Distribution 0.00
(I) Reserve Account Balance after draw 7,660,522.25
(J) Total excess Collections deposited in the Reserve Fund 801,743.37
-----------------
(K) Reserve Fund Balance 8,462,265.62
(L) Specified Reserve Account Balance 16,447,885.58
(M) Reserve Account Release to Seller 0.00
-----------------
(N) Ending Reserve Account Balance 8,462,265.62
=================
J. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
- --------------------------------------------
(A) Liquidated Contracts
(i) Liquidation Proceeds Related to Principal $34,785.34
(ii) Liquidation Proceeds Related to Interest 0.00
(iii) Recoveries on Previously Liquidated Contracts 365,134.91
(B) Realized Net Losses for Collection Period 634,965.06
(C) Charge-off Rate for Collection Period (annualized) 1.53%
(D) Cumulative Aggregate Net Losses for all Periods 4,679,018.52
(E) Delinquent Receivables
Dollar Amount # Units
-------------- --------
(i) 30-59 Days Delinquent 3,450,075 1.68% 395
(ii) 60-89 Days Delinquent 843,752 0.41% 95
(iii) 90 Days or More Delinquent 243,231 0.12% 33
BANC ONE AUTO GRANTOR PAGE 6
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
K. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE
- ----------------------------------------------------------
(A) Charge-off Rate
(i) Second Preceding Collection Period 1.83%
(ii) Preceding Collection Period 2.41%
(iii) Current Collection Period 1.53%
(iv) Three Month Average (Avg(i,ii,iii)) 1.92%
(B) Delinquency Percentages
(i) Second Preceding Collection Period 0.45%
(ii) Preceding Collection Period 0.46%
(iii) Current Collection Period 0.53%
(iv) Three Month Average (Avg(i,ii,iii)) 0.48%
(C) Loss and Delinquency Trigger Indicator Trigger was hit
BANC ONE AUTO GRANTOR PAGE 7
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
L. STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------
Per $1,000 of
Original Principal
(A) Amount of distribution allocable to principal: Dollars ($) Balance
--------------- --------------------
(i) Class A Certificates 10,304,451.00 35.1137672
(ii) Class B Certificates 429,361.70 35.1137672
Per $1,000 of
Original Principal
(B) Amount of distribution allocable to interest: Dollars ($) Balance
--------------- --------------------
(i) Class A Certificates 1,133,580.67 3.8628247
(ii) Class B Certificates 48,315.27 3.9512866
(C) Pool Balance as of the close of business on the last day of the
Collection Period $205,598,569.69
----------------
Per $1,000 of
Original Balance
(D) Amount of the Servicing Fee paid to the Servicer with respect Dollars ($) Balance
to the related Collection Period ------------- --------------------
(i) Total Servicing Fee 180,276.99
(ii) Class A Percentage of the Servicing Fee 173,065.75 0.5897442
(iii) Class B Percentage of the Servicing Fee 7,211.23 0.5897442
Per $1,000 of
Original Balance
Dollars ($) 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 0.6725793
(ii) Class B Pool Factor 0.6725793
(G) Amount of the aggregate Realized Losses, if any, for such
Collection Period ($) $634,965.06
-----------
(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 $1,086,982.92
(I) Amount on deposit in the Reserve Fund on such Distribution Date, after
giving effect to distributions made on such Distribution Date $8,462,265.62
-------------
(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 197,374,450.35
(ii) Class B Principal Balance 8,224,119.34
(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
------------
BANC ONE AUTO GRANTOR PAGE 8
TRUST 1996-B
AMENDED AND RESTATED DETERMINATION DATE STATEMENT
COLLECTION PERIOD JANUARY 1, 1997 THROUGH JANUARY 31, 1997
DISTRIBUTION DATE FEBRUARY 17, 1997
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 $180,276.99
(ii) Servicing Fees retained by the Seller 180,276.99
------------
(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 $1,133,580.67
(ii) for the Class A Principal Distribution 10,304,451.00
-------------
(iii) Total (i+ii) $11,438,031.67
--------------
(C) Withdraw from the Collection Account and deposit in the Class B
Distribution Account:
(i) for the Class B Interest Distribution $48,315.27
(ii) for the Class B Principal Distribution 429,361.70
-------------
(iii) Total (i+ii) $477,676.97
-----------
(D) Withdraw excess Collections from the Collection Account and
deposit in the Reserve Fund $801,743.37
-----------
(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
-------