Page 1
- --------------------------------------------------------------------------------
Chase Manhattan Credit Card Master Trust Series 1996-3
November 15, 2000
- --------------------------------------------------------------------------------
EXHIBIT C
FORM OF MONTHLY CERTIFICATEHOLDERS STATEMENT
THE CHASE MANHATTAN BANK USA, N.A.
Chase Manhattan Credit Card Master Trust
Series 1996-3
For the Distribution Date 11/15/00
For the Monthly Period 53
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June 1,
1991 and the Series 1996-3 Supplement dated as of June 1, 1996 (together, the
Agreement) by and between The Chase Manhattan Bank USA, N.A. (Chase) and Yasuda
Bank and Trust Company (U.S.A.), as trustee (the Trustee), Chase, as Servicer,
is required to prepare certain information each month regarding current
distributions to Series 1996-3 Certificateholders and the performance of the
Chase Manhattan Credit Card Master Trust (the Trust) and the Series 1996-3 Class
A Certificates and Series 1996-3 Class B Certificates during the previous month.
The information which is required to be prepared with respect to the 11/15/00
Distribution Date and with respect to the performance of the Trust October, 2000
during the month (the Monthly Period) is set forth below. 53
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Series 1996-3 Investor Certificate (a Certificate). Certain
other information is presented based on the aggregate amounts for the Trust as a
whole. Capitalized terms used in this Certificate have their respective meanings
set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A AND
CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-3 Certificateholders on 11/15/00
per $1,000 original certificate principal amount
(1) Class A Certificateholders 5.866667
(2) Class B Certificateholders 6.008333
B) The amount of the distribution set forth in paragraph 1 above in respect of
principal of the 1996-3 Certificates, per $1,000 original certificate principal
amount
(1) Class A Certificateholders 0.000000
(2) Class B Certificateholders 0.000000
C) The amount of the distribution set forth in paragraph 1 above in respect of
interest on the 1996-3 Certificates, per $1,000 original certificate principal
amount
(1) Class A Certificateholders 5.866667
(2) Class B Certificateholders 6.008333
[CHASE LOGO] (C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------
Page 2
- --------------------------------------------------------------------------------
Chase Manhattan Credit Card Master Trust Series 1996-3
November 15, 2000
- --------------------------------------------------------------------------------
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect to
the preceding Monthly Period and allocated to the Series 1996-3 Certificates 151,161,533.59
was equal to
(2) The Payment Rate with respect to the preceding Monthly
Period was equal to 13.67%
The monthly payment rate for the 2nd preceding Monthly 52
Period was equal to 12.24%
The monthly payment rate for the 3rd preceding Monthly 51
Period was equal to 14.01%
(3)a. The aggregate amount of Collections of Principal Receivables
processed with respect to the preceding Monthly Period which
were allocated in respect of the Series 1996-3 Certificates 137,168,241.93
(3)b. The aggregate amount of Investor Defaults treated as
Available Principal Collections prusuant to sections 4.08 a.(iii), 4.10 (b),(e),(l) 3,697,283.90
(4) The aggregate amount of Collections of Finance Charge
Receivables processed with respect to the preceding Monthly
Period which were allocated in respect of the Series 1996-3 Certificates 13,993,291.65
B) Deficit Controlled Amortization Amount 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the Trust as of the end of
the preceding Monthly Period (represented by the Seller Interest, the Investor
Interest of Series 1996-3, and the Investor Interest of all other outstanding
Series) 2,756,947,574.63
(2) The Investor Interest as of the last day of the preceding Monthly Period
(a) Investor Interest 1,054,731,004.16
(b) Class A Investor Interest 957,220,000.00
(c) Class B Investor Interest 42,780,000.00
(d) Collateral Interest 54,731,004.16
(3) The Investor Interest set forth in paragraph C(2)(a) above as a percentage
of the aggregate amount of Principal Receivables set forth in paragraph C(1)
above 38.2572%
(4) The Class A Investor Interest set forth in paragraph C(2)(b) above as a
percentage of the aggregate amount of Principal Receivables set forth in
paragraph C(1) above 34.7203%
(5) The Class B Investor Interest set forth in paragraph C(2)(c) above as a
percentage of the aggregate amount of Principal Receivables set forth in
paragraph C(1) above 1.5517%
(6) The Collateral Interest set forth in paragraph C(2)(d) above as a percentage
of the aggregate amount of Principal Receivables set forth in paragraph C(1)
above 1.9852%
(7) The Class A Floating Percentage 88.4193%
(8) The Class B Floating Percentage 5.0807%
(9) The Class B Principal Percentage 3.9999%
(10) The Collateral Floating Percentage 6.5000%
[CHASE LOGO] (C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------
Page 3
- --------------------------------------------------------------------------------
Chase Manhattan Credit Card Master Trust Series 1996-3
November 15, 2000
- --------------------------------------------------------------------------------
(11) The Collateral Principal Percentage 6.5001%
(12) The Floating Allocation Percentage 30.2970%
(13) The Principal Allocation Percentage 38.4830%
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to 17.37%
The annualized portfolio yield for the 2nd preceding Monthly 52
Period was equal to 16.46%
The annualized portfolio yield for the 3rd preceding Monthly 51
Period was equal to 20.07%
The three month average Portfolio Yield was equal to 17.97%
(2) Base Rate for the preceding Monthly Period was equal to 8.76%
The Base Rate for the 2nd preceding Monthly 52
Period was equal to 8.98%
The Base Rate for the 3rd preceding Monthly 51
Period was equal to 9.20%
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly Period:
Up to 29 Days
Aggregate Account Balance 140,841,917.95
As a Percentage of Receiveables 4.87%
(2) 30 - 59 Days
Aggregate Account Balance 44,844,727.18
As a Percentage of Receiveables 1.55%
(3) 60 - 89 Days
Aggregate Account Balance 31,464,159.47
As a Percentage of Receiveables 1.09%
(4) 90 or More Days
Aggregate Account Balance 57,159,337.59
As a Percentage of Receiveables 1.98%
Total
Aggregate Account Balance 274,310,142.19
As a Percentage of Receiveables 9.48%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal Receivables written off as
uncollectible with respect to Billing Cycles ending during the preceding Monthly
Period allocable to the Investor Interest less Recoveries allocable to the
Investor Interest (the Series 1996-3 Aggregate Investor Default Amount) 3,697,283.90
(2) The portion of the series 1996-3 Aggregate Investor Default Amount allocable
to the Class A Investor Interest (the Class A Investor Default Amount) 3,269,113.77
[CHASE LOGO] (C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------
Page 4
- --------------------------------------------------------------------------------
Chase Manhattan Credit Card Master Trust Series 1996-3
November 15, 2000
- --------------------------------------------------------------------------------
(3) The portion of the Series 1996-3 Aggregate Investor Default Amount
allocable to the Class B Investor Interest (the Class B
Investor Default Amount) 187,846.68
(4) The portion of the Series 1996-3 Aggregate Investor Default Amount
allocable to the Collateral Investor Interest (the Collateral
Investor Default Amount) 240,323.45
(5) The annualized investor default percentage (Series 1996-3 Aggregate Investor
Default Amount/Investor Interest) x 12 for the preceding Monthly Period was
equal to 4.21%
The annualized investor default % for (the 2nd preceding Monthly Period), the 52
Monthly Period, was equal to 4.04%
The annualized investor default % for (the 3rd preceding Monthly Period), the 51
Monthly Period, was equal to 5.15%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs for the preceding
Monthly Period 0.00
(2) The aggregate amount of Class A Investor Charge Off per $1,000 original
Certificate Principal Amount 0.00
(3) The aggregate amount of Class A Investor Charge-Offs reimbursed on the
Transfer Date immediately preceding the Distribution Date 0.00
(4) The amount of the reimbursed Investor Charge-Offs set forth in paragraph
G(2) above, per $1,000 original Class A Certificate principal amount 0.00
(5) The aggregate amount of Class B Investor Charge-Offs for such
Monthly Period 0.00
(6) The aggregate amount of Class B Investor Charge Off per $1,000 original
Certificate Principal Amount 0.00
(7) The aggregate amount of Class B Investor Charge-Offs reimbursed on the
Transfer Date immediately preceding such Distribution Date 0.00
(8) The amount of the reimbursed Investor Charge-Offs set forth in paragraph
G(6) above, per $1,000 original Class B Certificate principal amount 0.00
(9) The aggregate amount of Investor Charge-Offs 0.00
(10) The aggregate Investor Charge Off per $1,000 Original Certificate
Principal Amount 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs 0.00
(12) The amount of the reimbursed Investor Charge-Offs set forth in paragraph
G(9) above, per $1,000 original Investor principal amount 0.00
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections during the
preceding Monthly Period which were allocated to the Series 1996-3 Certificates 0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the preceding
Monthly Period allocated to the Series 1996-3 Certificates 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class B Certificates paid
[CHASE LOGO] (C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------
Page 5
- --------------------------------------------------------------------------------
Chase Manhattan Credit Card Master Trust Series 1996-3
November 15, 2000
- --------------------------------------------------------------------------------
with respect to Class A Certificates to make up deficiencies in Class A Required
Amount for any Monthly Period 0.00
(2) Collections of Principal Receivables allocable to Collateral Interest paid
with respect to Class B Certificates to make up deficiencies in Class B Required
Amount 0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee payable by the Trust to the
Servicer for the preceding Monthly Period 1,508,611.01
(2) The amount of the Class A Monthly Servicing Fee payable by the Trust for the
preceding Monthly Period 1,333,903.80
(3) The amount of the Class B Monthly Servicing Fee payable by the Trust to the
Servicer for the preceding Monthly Period 76,647.50
(4) The amount of the Collateral Monthly Servicing Fee payable by the Trust to
the Servicer for the preceding Monthly Period 98,059.72
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer Date
for the preceding Monthly Period was equal to 54,731,004.16
M) Required Collateral Interest
(1) The Required Collateral interest as of the Transfer Date for the
preceding Monthly Period was equal to 47,337,147.95
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be made on the
Distribution date(which represents the ratio of the amount of the Investor
Interest as of such Record Date (determined after taking into account any
reduction in the Investor Interest which will occur on the Distribution Date) to
the Initial Investor Interest). The amount of a Certificateholders pro rata
share of the Investor Interest can be determined by multiplying the original
denomination of the Certificateholders Certificate by the Pool Factor. 0.97925925
THE CHASE MANHATTAN BANK USA, N.A.
Servicer
By:_________________________
Name: Patricia Garvey
Title: Vice President
[CHASE LOGO] (C) COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------