SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: January 16, 2001
CHASE MANHATTAN CREDIT CARD MASTER TRUST 1996-3
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(Exact name of registrant as
specified in its charter)
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
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(Sponsor of the Trust)
United States 33-40006 22-2382028
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5050
Item 5. Other Events:
Chase Manhattan Credit Card Master Trust is the issuer of 1 outstanding
series of asset backed certificates. The asset-backed certificates are serviced
in accordance with the Pooling and Servicing Agreement, dated as of June 1,
1991, as amended. The parties to the Pooling and Servicing Agreement are: Chase
Manhattan Bank USA, National Association ("Chase USA"), as servicer, and Yasuda
Bank and Trust Company (U.S.A.), as trustee.
On January 16, 2001, Chase USA, as servicer, distributed monthly
interest to the holders of the Series 1996-3 certificates. Chase USA furnished a
copy of the monthly certificateholders' report required by the Pooling and
Servicing Agreement. Copies of those monthly certificateholders' reports are
being filed as Exhibit 20.1 to this Current Report on Form 8-K.
On December 31, 2000, J.P. Morgan & Co. Incorporated and The Chase
Manhattan Corporation completed their merger, with the surviving corporation
being named J.P. Morgan Chase & Co. ("J.P. Morgan Chase"). The Chase Manhattan
Bank ("Chase"), Chase USA and Morgan Guaranty Trust Company of New York are
subsidiaries of J.P. Morgan Chase.
During the fourth quarter of 2000, J.P. Morgan Chase implemented a
revised policy for consumer loan charge-offs to conform with a policy statement
adopted by the Federal Financial Institutions Examination Council ("FFIEC"). The
FFIEC policy, originally issued in February 1999, established uniform guidelines
for the charge-off of consumer loans to delinquent, bankrupt, deceased and
fraudulent borrowers. In connection with the implementation of this policy, J.P.
Morgan Chase took a $93 million charge-off for credit card, auto finance and
mortgage loans on a managed basis (i.e., including securitizations) in the
fourth quarter of 2000. Chase USA does not believe that the revised charge-off
policy will materially affect the interests of holders of the certificates.
Item 7(c). Exhibits
Exhibits Description
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20.1 Monthly Certificateholders' Statements with
respect to the January 16, 2001 distribution.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: January 26, 2001
Chase Manhattan Credit Card Master Trust,
By: Chase Manhattan Bank USA, N.A.,
as Servicer
By: /s/ Patricia Garvey
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Name: Patricia Garvey
Title: Vice President
INDEX TO EXHIBITS
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Exhibit No. Description
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20.1 Monthly Certificateholders' Statement with respect
to the January 16, 2001 distribution to
Certificateholders for Series 1996-3