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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
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March 17, 1997
Banc One Auto Grantor Trust 1996-B
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(Issuer with respect to the Certificates)
Banc One ABS Corporation
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(Exact Name of Registrant as Specified in Charter)
Ohio
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(State or Other Jurisdiction of Incorporation)
333-3457 31-1467431
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(Commission File Number) (IRS Employer Identification No.)
c/o Bank One, Arizona, N.A., as Servicer
201 North Central Avenue, Phoenix, Arizona 85004
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(Address of Principal Executive Offices)(Zip Code)
Registrant's telephone number, including area code: (602) 221-3704
N/A
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(Former Name or Former Address, If Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On March 17, 1997, (the "Distribution Date"), Banc One Auto Grantor Trust
1996-B (the "Trust") made a regular monthly distribution of principal and/or
interest to holders of the Trust's Class A 6.55% Asset Backed Certificates
("Class A Certificates") and Class B 6.70% Asset Backed Certificates ("Class B
Certificates"). The amount of such distribution was based upon the information
set forth in the Determination Date Statement (the "Original Statement")
reflecting the Trust's activities for the Interest Period from February 15, 1997
through March 14, 1997 (the "February 1997 Interest Perid") and for the
Collection Period from February 1, 1997 through February 28, 1997 (the "February
1997 Collection Period"). The Original Statement was delivered to
certificateholders and filed as Exhibit 99.1 to the Trust's Current Report on
Form 8-K.
On August 25, 1997, Bank One, Arizona, N.A., as servicer (the
"Servicer"), provided notice to Bankers Trust Company, as trustee (the
"Trustee"), of the Servicer's discovery of errors in the Original Statement
which affected, among other things, the reported amount of principal and
interest collections received by the Trust during the February 1997 Collection
Period and the amounts actually distributed to certificateholders on the
Distribution Date.
This Amendment No. 1 on Form 8-K/A is being filed for the purpose of
filing an amended and restated Determination Date Statement (the "Amended
Monthly Statement") as Exhibit 99.1 hereto reflecting the Trust's activities for
the February 1997 Interest Period and for the February 1997 Collection Period in
substitution for the Original Statement. Exhibit 99.2 hereto includes a
reconciliation showing for certain selected items the amounts reported on the
Original Statement, the amounts reported on the Amended Statement and any
variance between the two amounts.
The Servicer has identified an aggregate underpayment of $239,951.02 in
principal and an aggregate overpayment of $1,456.81 in interest to
certificateholders on the Distribution Date. The aggregate amount of the
principal underpayment has been deposited by the Servicer, out of its own funds,
into the Collection Account for distribution on or about September 15, 1997 to
certificateholders of record as of February 28, 1997. The Servicer has waived
all claims which it may have with respect to the amount of the overpayment of
interest on the Distribution Date.
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The Trust's Current Report on Form 8-K filed August 29, 1997 contains
additional information regarding the Servicer's discovery of errors in other
monthly statements issued by the Trust as well as information regarding the net
amounts due and owing to certificateholders as a result of the errors in such
other monthly statements.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits.
99.1 Amended and Restated Monthly Statement to Certificateholders.
99.2 Reconciliation between Original Statement and Amended and
Restated Monthly Statement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANC ONE AUTO GRANTOR TRUST 1996-B
By: Bank One, Arizona, N.A., as Servicer
on behalf of the Trust
Date: September 23, 1997 By: /s/ Tom Lewis
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Tom Lewis
Vice President
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Amended and Restated Servicer's Certificate
(Pursuant to Section 3.9
of the Pooling and Servicing
Agreement, dated June 1, 1996)
Banc One Auto Grantor Trust 1996-B
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 Amended and Restated
Determination Date Statement is true and correct.
On March 17, 1997, (the "Distribution Date"), Banc One Auto
Grantor Trust 1996-B (the "Trust") made a regular monthly distribution of
principal and/or interest to holders of the Trust's Class A 6.55% Asset Backed
Certificates ("Class A Certificates") and Class B 6.70% Asset Backed
Certificates ("Class B Certificates"). The amount of such distribution was based
upon the information set forth in the Determination Date Statement (the
"Original Statement") reflecting the Trust's activities for the Interest Period
from February 15, 1997 through March 14, 1997 (the "February 1997 Interest
Period") and for the Collection Period from February 1, 1997 through February
28, 1997 (the "February 1997 Collection Period").
On August 25, 1997, Bank One, Arizona, N.A., as servicer
(the "Servicer"), provided notice to Bankers Trust Company, as trustee (the
"Trustee"), of the Servicer's discovery of errors in the Original Statement
which affected, among other things, the reported amount of principal and
interest collections received by the Trust during the February 1997 Collection
Period and the amounts actually distributed to certificateholders on the
Distribution Date.
The Servicer has identified an aggregate underpayment of
$239,951.02 in principal and an aggregate overpayment of $1,456.81 in interest
to certificateholders on the Distribution Date. The aggregate amount of the
principal underpayment has been deposited by the Servicer, out of its own funds,
into the Collection Account for distribution on or about September 15, 1997 to
certificateholders of record as of February 28, 1997. The Servicer has waived
all claims which it may have with respect to the amount of the overpayment of
interest on the Distribution Date.
Signed by: /s/ Tom Lewis Date: September 23, 1997
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Vice President
Bank One, Arizona, N.A.
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