-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NiXJbstr15oQwvFg93JS8D7UpI/whT9AKZ6f1HVvo44cCESuON1GGMLLG4X+iZ1Y iYeO87D7KbMg5JEhVHZWyg== 0000839947-97-000021.txt : 19970526 0000839947-97-000021.hdr.sgml : 19970526 ACCESSION NUMBER: 0000839947-97-000021 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970425 ITEM INFORMATION: Changes in control of registrant FILED AS OF DATE: 19970523 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIBANK SOUTH DAKOTA N A CENTRAL INDEX KEY: 0000839947 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 460358360 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17797 FILM NUMBER: 97613366 BUSINESS ADDRESS: STREET 1: 701 E 60TH ST N CITY: SIOUX FALLS STATE: SD ZIP: 57117 BUSINESS PHONE: 6053312626 MAIL ADDRESS: STREET 1: CITIBANK N A LEGAL AFFAIRS OFFICE STREET 2: 425 PARK AVENUE 2ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10043 8-K 1 STANDARD CREDIT CARD TRUST 1990-3 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 (Date of earliest event reported): May 12, 1997 ------------------------------------ CITIBANK (SOUTH DAKOTA), N.A. ON BEHALF OF STANDARD CREDIT CARD TRUST 1990-3 (Issuer in respect of the Standard Credit Card Trust 1990-3 9.50% Class A Credit Card Participation Certificates 9.85% Class B Credit Card Participation Certificates (collectively, the "Certificates")) (Exact name of registrant as specified in charter) UNITED STATES OF AMERICA 33-33861 (State or other jurisdiction of (Commission File No.) incorporation) 46-0358360 (I.R.S. Employer Identification No.) 701 EAST 60TH STREET, NORTH SIOUX FALLS, SOUTH DAKOTA 57117 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (605) 331-2626 NOT APPLICABLE (Former name or former address, if changed since last report) 1 ITEM 5. OTHER EVENTS. Set forth below are the Class A Certificateholder's Statement and the Class B Certificateholder's Statement (the "Certificateholders' Statements") relating to the Distribution Date occurring on May 12, 1997 and the related Due Period delivered pursuant to Section 5.02 of the Pooling and Servicing Agreement dated as of March 28, 1990 (the "Pooling Agreement") relating to Standard Credit Card Trust 1990-3 among Citibank (South Dakota), N.A., as Seller and Servicer, Citibank (Nevada), National Association, as Seller, and Yasuda Bank and Trust Company (U.S.A.), as Trustee. The Certificateholders' Statements contain information relating to the distribution to Certificateholders on the referenced Distribution Date as well as information relating to the Receivables and the Accounts from which the Receivables have arisen. Capitalized terms used but not defined herein have the meanings set forth in the Pooling Agreement. 2 CLASS A CERTIFICATEHOLDER'S STATEMENT CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION - -------------------------------------------------------------------------------- STANDARD CREDIT CARD TRUST 1990-3 - -------------------------------------------------------------------------------- Under the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of March 28, 1990, by and among Citibank (South Dakota), N.A., as Seller and Servicer, Citibank (Nevada), National Association, as Seller and Yasuda Bank and Trust Company (U.S.A), as Trustee, the Servicer is required to prepare certain information each month regarding current distributions to Class A Certificateholders and the performance of the Standard Credit Card Trust 1990-3 (the "Trust") during the previous month. The information which is required to be prepared with respect to the distribution on May 12, 1997 Payment Date (the Payment Date") and with respect to the performance of the Trust during the Due Period(s) with respect to such Payment Date is set forth below. Certain of the information is presented on the basis of an original principal amount of $1000 per Class A Certificate. Certain other information is presented based on the aggregate amounts for the Trust as a whole. All capitalized terms used herein shall have the respective meanings set forth in the Pooling and Servicing Agreement. A. Information Regarding Distributions to Class A Certificateholders (Stated on the Basis of $1,000 Current Invested Amount). 1. The total amount of the distribution to Class A Certificateholders on the Distribution Date, per $1,000 interest....................................$ 1,047.500 2. The amount of the distribution set forth in paragraph 1 above in respect of principal on the Class A Certi- ficates, per $1,000 interest.......................$ 1,000.000 3. The amount of the distribution set forth in paragraph 1 above in respect of interest on the Class A Certi- ficates, per $1,000 interest.......................$ 47.500 B. Information Regarding the Performance of the Trust 1. Collections of Receivables. (a) The aggregate amount of Collections of Receivables processed during the Due Period(s) with respect to the Distribution Date......................$ 635,192,836 (b) The aggregate amount of Collections of Receivables in respect of Finance Charge Receivables processed during the Due Period(s) with respect to the Distribution Date.............................$ 68,943,131 [1] 3 (c) The aggregate amount of Collections of Receivables in respect of Principal Receivables processed during the Due Period(s) with respect to the Distribution Date..........................................$ 566,249,705 [2] 2. Allocation of Receivables. (a) The Class A Floating Allocation Percentage for the Due Period(s) with respect to the Distribution Date.......................................... First Due Period...... 40.40 Second Due Period..... 34.59 Third Due Period...... 27.65 Fourth Due Period..... 22.91 Fifth Due Period...... 17.43 Sixth Due Period...... 11.76 (b) The Fixed Allocation Percentage............... 77.94% [3] ------------------------------------------------------------ [1] Includes Interchange and Recoveries. [2] During the Revolving Period, this amount (or the portion thereof received prior to the occurrence of an Amortization Event) will be paid solely to the holders of the Seller Certificate. [3] Applicable during the Accumulation Period and any Early Amortization Period. 4 3. Class A Principal Funding Account. (a) The total amount deposited into the Principal Funding Account on the Distribution Date(s) with respect to the Distribution Date..............$ 41,666,667 [4] (b) The total amount on deposit in the Principal Funding Account on the Distribution Date (after giving effect to each deposit referred to in Item 3(a))....................................$ 500,000,000 [4] 4. Delinquent Balances. (a) The aggregate outstanding balance of the Accounts which were delinquent by 35 days to 64 days as of the close of business on the last day of the calendar month preceding the Payment Date..............$ 12,206,963 (b) The aggregate outstanding balance of the Accounts which were delinquent by 65 days or more as of the close of business on the last day of the calendar month preceding the Payment Date..............$ 21,979,644 5. Class A Investor Default Amount. The aggregate Class A Investor Default Amount for the Payment Date(s) with respect to the Payment Date...$ 381,695 6. Class A Investor Charge-Offs; Reimbursement of Charge-Offs. (a) The aggregate of the Class A Investor Charge-Offs, if any, for the Distribution Date with respect to the Payment Date............................$ 0 (b) The amount of the Class A Investor Charge-Offs set forth in Item 6(a) above, per $1,000 interest (which will have the effect of reducing, pro rata, the amount of each Class A Investor Certificateholder's investment....................................$ 0 (c) The total amount reimbursed to the Trust for such Distribution Date(s) in respect of Class A Investor Charge-Offs...................................$ 0 (d) The amount set forth in Item 6(c) above, per $1,000 interest (which will have the effect of reinstating, pro rata, the amount of each Class A Investor Certificateholder's investment................$ 0 (e) The amount, if any, by which the outstanding principal balance of the Class A Investor Certificates exceeds the Class A Invested Amount as of the end of the day on such Payment Date..........................$ 0 7. Servicing Fee. The aggregate amount of the Monthly Class A Servicing Fee paid or payable by the Trust to 5 the Servicer for the Distribution Date.............$ 1,992,101 8. The existing Deficit Controlled Amortization Amount for such Payment Date..............................$ C. The Class A Pool Factor. The Class A Pool Factor for the preceding Record Date (which represents the ratio of the Class A Invested Amount as of such Record Date (adjusted after taking into account any increases or decreases in the Class A Invested Amount which will occur on the following Distribution Date) to the Class A Initial Invested Amount). The amount of a Certifi- cateholder's pro rata share of the Invested Amount can be determined by multiplying the original denomination of the holder's Class A Certificate by the Pool Factor....$ 0.00% D. Receivables Balances. 1. The aggregate amount of Principal Receivables in the Trust at the close of business on the last day of the preceding Due Period.........................................$ 703,550,004 2. The aggregate amount of Finance Charge Receivables in the Trust at the close of business on the last day of the preceding Due Period...............................$ 11,821,842 E. Class B Certificates. 1. The amount of Reallocated Principal Collections with respect to such Distribution Date..................$ 0 2. The Class B Invested Amount as of the end of the day on the Payment Date................................$ 62,000,000 CITIBANK, SOUTH DAKOTA, as Servicer By: /s/ Susan Sexton ----------------- Name:Susan Sexton Title:Servicing Officer [4] Applicable during the Scheduled Amortization Period. [5] Applicable during the Accumulation Period. 6 CLASS B CERTIFICATEHOLDER'S STATEMENT CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION - -------------------------------------------------------------------------------- STANDARD CREDIT CARD TRUST 1990-3 - -------------------------------------------------------------------------------- Under the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of March 28, 1990, by and among Citibank (South Dakota), N.A., as Seller and Servicer, Citibank (Nevada), National Association, as Seller and Yasuda Bank and Trust Company, as Trustee, the Servicer is required to prepare certain information each month regarding current distributions to Class B Certificateholders and the performance of the Standard Credit Card Trust 90-3 (the "Trust") during the previous month. The information which is required to be prepared with respect to the distribution on May 12, 1997 Payment Date (the "Payment Date") and with respect to the performance of the Trust during the Due Period(s) with respect to such Payment Date is set forth below. Certain of the information is presented on the basis of an original principal amount of $1000 per Class B Certificate. Certain other information is presented on the aggregate amounts for the Trust as a whole. All capitalized terms used herein shall have the respective meanings set forth in the Pooling and Servicing Agreement. A. Information Regarding Distributions to Class B Certificateholders (Stated on the Basis of $1,000 Current Invested Amount). 1. The total amount of the distribution to Class B Certificateholders on the Payment Date, per $1,000 interest...........................................$ 49.250 2. The amount of the distribution set forth in paragraph 1 above in respect of principal on the Class B Certi- ficates, per $1,000 interest.......................$ 0.000 3. The amount of the distribution set forth in paragraph 1 above in respect of interest on the Class B Certi- ficates, per $1,000 interest.......................$ 49.250 B. Information Regarding the Performance of the Trust 1. Collections of Receivables. (a) The aggregate amount of Collections of Receivables processed during the Due Period(s) with respect to the Payment Date...........................$ 635,192,836 (b) The aggregate amount of Collections of Receivables in respect of Finance Charge Receivables processed during the Due Period(s) with respect to the Payment Date..................................$ 68,943,131 [1] 7 (c) The aggregate amount of Collections of Receivables in respect of Principal Receivables processed during the Due Period(s) with respect to the Payment Date..........................................$ 566,249,705 [2] 2. Allocation of Receivables. (a) The Class B Floating Allocation Percentage for the Due Period(s) with respect to the Payment Date.......................................... First Due Period...... 8.59 Second Due Period..... 8.58 Third Due Period...... 8.23 Fourth Due Period..... 8.52 Fifth Due Period...... 8.65 Sixth Due Period...... 8.75 (b) The Fixed Allocation Percentage............... 9.6648% [3] ------------------------------------------------------------ [1] Includes Interchange and Recoveries. [2] During the Revolving Period, this amount (or the portion thereof received prior to the occurrence of an Amortization Event) will be paid solely to the holders of the Seller Certificate or, under certain circumstances, will be used to fund certain payments with respect to the Class A Certificates. [3] Applicable during the Accumulation Period and any Early Amortization Period. 8 3. Available L/C Amount. (a) The amount available to be drawn under the L/C (the "Available L/C Amount") as of the close of business on the Payment Date, after giving effect to any drawings on the L/C and payments to the L/C Issuer on such Payment Date..................................$ 33,720,000 (b) The ratio of the Available L/C Amount to the Class B Invested Amount as of the close of business on the Payment Date after giving effect to any drawings on the L/C and payments to the L/C Issuer on such Payment Date.......................... 54.387% 4. Delinquent Balances. (a) The aggregate outstanding balance of the Accounts which were delinquent by 35 days to 64 days as of the close of business on the last day of the calendar month preceding the Payment Date..............................$ 12,206,963 (b) The aggregate outstanding balance of the Accounts which were delinquent by 65 days or more as of the close of business on the last day of the calendar month preceding the Payment Date..............................$ 21,979,644 5. Class B Investor Default Amount. The Class B Investor Default Amount for the Distribution Date(s) with respect to the Payment Date...............................................$ 283,981 6. Class B Investor Charge-Offs; Reimbursement of Charge-Offs. (a) The aggregate of the Class B Investor Charge- Offs and other reductions in the Class B Invested Amount (other than due to the payment of principal to the Class B Certificateholders), if any, for the Distribution Date(s) with respect to the Payment Date...........................$ 0 (b) The amount of the Class B Investor Charge- Offs and other reductions in the Class B Invested Amount set forth in Item 6(a) above, per $1,000 interest (which will have the effect of reducing, pro rata, the amount of each Class B Certificate- holder's investment)..........................$ 0 (c) The total amount reimbursed to the Trust for such Distribution Date(s) in respect of Class B Investor Charge-Offs and other reductions in Class B Invested Amount.........$ 0 9 (d) The amount set forth in Item 6(c) above, per $1,000 interest, which will have the effect of reinstating, pro rata, the amount of each Class B Certificateholder's investment....................................$ 0 (e) The amount, if any, by which the out- standing principal balance of the Class B Investor Certificates exceeds the Class B Invested Amount as of the end of the day on such Payment Date...........$ 0 7. Servicing Fee. The aggregate amount of the Class B Monthly Servicing Fee paid or payable by the Trust to the Servicer for the Distribution Date(s) with respect to the Payment Date...................$ 877,149 8. The existing Deficit Controlled Amortization Amount for such Payment Date.......................$ 0 C. The Class B Pool Factor. The Class B Pool Factor for the preceding Record Date (which represents the ratio of the Class B Invested Amount as of such Record Date (adjusted after taking into account any increases or decreases in the Class B Invested Amount which will occur on the following Distribution Date) to the Class B Initial Invested Amount.) The Amount of a Certificateholder's pro rata share of the Invested Amount can be determined by multiplying the original denomination of the holder's Class B Certificate by the Pool Factor..... 100.00% D. Receivables Balances. 1. The aggregate amount of Principal Receivables in the Trust at the close of business on the last day of the preceding Due Period...............$ 703,550,004 2. The aggregate amount of Finance Charge Receivables in the Trust at the close of business on the last day of the preceding Due Period.........................................$ 11,821,842 CITIBANK, SOUTH DAKOTA, as Servicer By: /s/ Susan Sexton ----------------- Name:Susan Sexton Title:Servicing Officer 10 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. CITIBANK (SOUTH DAKOTA), N.A., as Servicer Standard Credit Card Trust 1990-3 By: /s/ Eugene D. Rowenhorst ------------------------- Eugene D. Rowenhorst Senior Vice President Dated: May 20, 1997 11 -----END PRIVACY-ENHANCED MESSAGE-----