-----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, T+j8UFV5nBmby9ZWuuXtN2/Hnsrl5F5SuoGOVfX6NAfgdrgor1/US0gawGhX8xgZ Y3Q3fBh//wU19sMlVCHLPQ== 0000899681-97-000189.txt : 19970423 0000899681-97-000189.hdr.sgml : 19970423 ACCESSION NUMBER: 0000899681-97-000189 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19961202 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970422 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRESTONE RETAIL CREDIT CORP CENTRAL INDEX KEY: 0000889416 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 133205598 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-49412 FILM NUMBER: 97585036 BUSINESS ADDRESS: STREET 1: ONE INTERNATIONAL PLACE STE 520 STREET 2: C/O ROPES & GRAY CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6179517000 MAIL ADDRESS: STREET 1: ONE INTERNATIONAL PL CITY: BOSTON STATE: MA ZIP: 02110-2624 8-K 1 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) DECEMBER 2, 1996 BRIDGESTONE/FIRESTONE MASTER TRUST. (Exact name of registrant as specified in charter) MASSACHUSSETS 333-07185 13-3205598 (State or other (Commission File (IRS Employer Identification jurisdiction of Number) Number) incorporation) C/O JH MANAGEMENT CORPORATION, ONE INTERNATIONAL PLACE, SUITE 520, BOSTON, MASSACHUSETTS 02110-2624 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (617) 951-7690 NOT APPLICABLE (Former name or former address, if changed since last report.) Item 5. Other Events This Current Report on Form 8-K is being filed to file a copy of the Certificateholders Statements relating to the Collection Periods ending November 18, 1996, December 18, 1996, January 18, 1997, February 18, 1997 and March 18, 1997. Capitalized terms not defined herein have the meanings assigned in the Amended Pooling and Servicing Agreement dated as of November 1, 1996 as supplemented by the Series Supplements thereto, among Bridgestone/Firestone, Inc., Firestone Retail Credit Corporation and The Fuji Bank and Trust Company, which was previously filed as an exhibit to Registration Statement No. 333-07185. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits EXHIBIT NO. 19.1 Certificateholders Statements 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 thereunto duly authorized. BRIDGESTONE/FIRESTONE MASTER TRUST (Registrant) By: Bridgestone/Firestone, Inc., on behalf of Bridgestone/Firestone Master Trust Date: April 21, 1997 By: Name: Christine Karbowiak Title: Assistant Secretary EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION 19.1 Certificateholders Statements
Form of Monthly Servicer's Certificate "Bridgestone/Firestone, Inc." Bridgestone/Firestone Master Trust The undersigned, duly authorized representative of Bridgestone/Firestone, Inc. ("Bridgestone/Firestone"), as Servicer pursuant to the Pooling and Servicing Agreement as amended and restated through November 1, 1996 (the "Agreement"), as supplement by the Series Supplements, among Bridgestone/Firestone, Firestone Retail Credit Corporation, as Transferor, and The Fuji Bank and Trust Company, as Trustee, does hereby certify the information set forth below: 1. Capitalized terms in this Certificate have their respective meaning as set forth in the Agreement or Series Supplement as applicable; provided that the "related Collection Period" shall mean the Collection Period in the calendar month in which this Certificate is delivered. This certificate is delivered pursuant to subsection 30.4(b) of the Agreement. References herein to certain sections and subsections are references to the respective sections and subsections in the Agreement. 2. Bridgestone/Firestone is the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on December 2, 1996, and the related Collection Period from October 19, 1996, through November 18, 1996. A. Information regarding the Bridgestone/Firestone Master Trust 1. Aggregate Receivables as of the end of the related Collection Period: 429,757,389.14 2. Aggregate Invested Amount as of the end of the related Collection Period: 414,084,370.23 3. (a) Transferor Amount as of the end of the related Collection Period (*): 11,375,445.02 (b) B/F Amount as of the end of the related Collection Period: 4,297,573.89 (c) Transferor Available Letter of Credit Amount for related Collection Period: 15,000,000.00 (d) "Sum of (a), (b), and (c) 30,673,018.91 4. Item 3(d) as percentage of Item 2: 7.41% 5. B/F Percentage as of the end of the related Collection Period: 1.00% * Includes Subordinated amounts for the Series, as determined for the related Collection Period of October 19, 1996, to November 18, 1996: Transferor Amount: 11,375,445.02 - Non-Subordinated 9,798,703.90 - Subordinated 1992-B 1,576,741.12 B. Information regarding performance of the Bridgestone/Firestone Master Trust Receivable Pool 1. The Outstanding Receivable balance as of the beginning of the related Collection Period was equal to: 441,049,217.30 2. The aggregate amount of billed periodic Finance Charges for the related Collection Period was equal to: 7,487,786.06 3. (a) The aggregate amount of Collections, exclusive of Recoveries and Merchant Fees, for the related Collection Period was equal to: 55,606,169.82 (b) Recoveries for the related Collection Period was equal to: 611,665.17 (c) Merchant Fees for the related Collection Period was equal to: 350,000.00 (c) The aggregate balance of Collections for the related Collection Period was equal to: 56,567,834.99 4. The aggregate amount of Principal Collections for the related Collection Period was equal to: 48,382,742.06 5. The aggregate amount of Finance Charge Collections for the related Collection Period was equal to: 8,185,092.93 6. The aggregate amount of receivables for all Accounts which became Defaulted Receivables during the related Collection Period was equal to: 4,505,547.18 7. The aggregate amount of Eligible Receivables arising under Accounts in the related Collection Period was equal to: 50,682,740.52 8. The aggregate amount of adjustments to Receivables in the related Collection Period was equal to: 743,072.03 9. The outstanding Receivable balance as of the end of the related Collection Period was equal to (Items 1+2-3(a)-6+7-8): 438,364,954.85 10. Delinquent Balances: The aggregate amounts of outstanding balances in the Accounts that were delinquent as of such Accounts' cycle billing dates occurring during the related Collection Period: (a) 1-30 Days 60,511,135.39 (b) 31-60 Days 19,374,172.05 (c) 61-90 Days 9,398,201.84 (d) 91-120 Days 6,547,969.62 (e) 121-150 Days 5,028,788.97 (f) 151-180 Days 4,117,797.85 Total 104,978,065.72 A. Information regarding Bridgestone/Firestone Master Trust Series 1996-1 Allocation Percentages 1 Floating Allocation Percentages: Defaulted Receivables/Principal Collections - Class A 33.58% Class B 4.74% Collateral Interest 1.68% Subordinated Transferor Amount 3.06% Finance Charge Collections - Class A 34.16% Class B 4.82% Collateral Interest 1.71% Subordinated Transferor Amount 3.11% 2. Fixed Allocation Percentages: N/A 3. The amount of Finance Charge Collections allocable to Series 1996-1 (Floating Allocation Percentage, times Finance Charge Collections): Class A 2,796,156.68 Class B 394,329.80 Collateral Interest 139,807.83 Subordinated Transferor Amount 254,521.97 4. The amount of Defaulted Receivables ("Investor Default Amount") allocable to Series 1996-1 (Floating Allocation Percentage, times Defaulted Receivables): Class A 1,513,138.10 Class B 213,391.28 Collateral Interest 75,656.91 Subordinated Transferor Amount 137,734.37 5. The amount of Principal collections allocable to Series 1996-1: (a) During the Revolving Period (Floating Allocation Percentage, times Principal Collections): Class A 16,248,807.89 Class B 2,291,498.61 Collateral Interest 812,440.39 Subordinated Transferor Amount 1,479,058.22 (b) During the Controlled Amortization or any Rapid Amortization Period (fixed Allocation Percentage, times Principal Collections): N/A B. Information regarding the application of funds for the Series 1996-1 Certificates, pursuant to Section 4.07 of the Series Supplement: 1. Amounts applicable to Class A: Class A Monthly Interest 788,388.89 Class A Investor Default Amount 1,513,138.10 Class A Monthly Servicing Fee 333,333.33 Reimbursement of Class A Investor Charge-Offs N/A 2. Amounts applicable to Class B: Class B Monthly Interest 116,949.43 Class B Investor Default Amount 213,391.28 Class B Monthly Servicing Fee 47,008.55 Reimbursement of Class B Investor Charge-Offs N/A 3. Amounts applicable to Collateral Interest: Collateral Interest Monthly Interest 38,083.33 Collateral Interest Investor Default Amount 75,656.91 Collateral Interest Monthly Servicing Fee 16,666.67 Reimbursement of Collateral Interest Investor Charge-Offs N/A 4. Amounts applicable to Subordinated Transferor Amount: Subordinated Transferor Investor Default Amount 137,734.37 Subordinated Transferor Monthly Servicing Fee 30,341.88 Reimbursement of Subordinated Transferor Investor Charge-Offs N/A 5. Excess Finance Charge Collection applicable to: Class A 161,296.36 Class B 16,980.54 Collateral Interest 9,400.92 Subordinated Transferor Amount 86,445.72 6. Required Amount: N/A 7. Reallocated Principal Collections N/A C. Information on the application of Principal Collections deposited to the Collection Accounted for Series 1996-1 Certificates: 1. Controlled Amortization due on Distribution Date: N/A 2. Monthly Principal deposited to the Collection Account for distribution to N/A Certificateholders: 3. Deficit Controlled Amortization Amount N/A D. Information on the application of Finance Charge Collections deposited to the Collection Account for Series 1996-1 Monthly Interest. 1. Monthly Interest due on Distribution Date: Class A 788,388.89 Class B 116,949.43 Collateral Interest 38,083.33 2. Monthly Interest deposited to the Collection Account on Distribution Date: Class A 788,388.89 Class B 116,949.43 Collateral Interest 38,083.33 E. Information regarding Series 1996-1 Accrued and Unpaid Amounts 1. The amount of Monthly Interest previously due but not paid on a prior N/A Distribution Date: 2. The amount of Additional Interest due on the current Distribution Date: N/A 3. The amount of Additional Interest previously due but not paid on a prior N/A Distribution Date: F. Information Regarding Series 1996-1 Certificate Balances, Invested Amounts, and Investor Charge Offs: 1. Certificate balances: Class A Certificate balance 200,000,000.00 Class B Certificate balance 28,205,129.00 Collateral Interest Certificate balance 10,000,000.00 Subordinated Transferor Certificate balance 18,205,129.00 2. Invested Amounts: Class A Invested Amount 200,000,000.00 Class B Invested Amount 28,205,129.00 Collateral Interest Invested Amount 10,000,000.00 Subordinated Transferor Invested Amount 18,205,129.00 3. Investor Charge Offs for the preceding Collection Period: N/A 4. Unreimbursed Investor Charge Offs N/A G. Information Regarding the Current Distribution to Certificateholders ("Payment Date Statement") 1. Detail of Class A distributions: Total Class A distributions 788,388.89 Class A interest distributions 788,388.89 Class A principal distributions N/A Total Class A distributions per $1000 original amount Class A 3.9419445 Certificate Class A interest distributions per $1000 original amount Class A 3.9419445 Certificate Class A principal distributions per $1000 original amount Class A N/A Certificate 2. Detail of Class B distributions: Total Class B distribution 116,949.43 Class B interest distributions 116,949.43 Class B principal distributions N/A Total Class B distributions per $1000 original amount Class B 4.1463888 Certificate Class B interest distributions per $1000 original amount Class B 4.1463888 Certificate Class B principal distributions per $1000 original amount Class B N/A Certificate 3. Detail of Collateral Interest distributions: Total Collateral Interest distributions 38,083.33 Collateral Interest interest distributions 38,083.33 Collateral Interest principal distributions N/A Total Collateral Interest distributions per $1000 original 3.8083330 amount Collateral Interest distributions per $1000 original amount 3.8083330 Collateral Interest principal distributions per $1000 original amount N/A G. Information Regarding the Current Monthly Distribution to Certificateholders ("Payment Date Statement") (continued) 3. Detail of Subordinated Transferor Interest distributions: Subordinated Transferor Interest principal distributions N/A 4. Excess of Class A Certificate balance over Class A Invested Amount N/A 5. Excess of Class B Certificate balance over Class B Invested Amount N/A 6. Excess of Collateral Interest balance over Collateral Interest Invested Amount N/A 7. Excess of Subordinated Transferor Interest balance over Subordinated N/A Transferor Invested Amount H. Information regarding the Servicer Letter of Credit and the Transferor Letter of Credit 1. The Servicer Available Letter of Credit Amount as of the preceding Determination 45,000,000.00 Date 2. The Transferor Available Letter of Credit Amount as of the preceding 15,000,000.00 Determination Date Both Letters of Credit were drawn down during the entire Collection Period. I. The Series 1996-1 Pool Factors 1. The Series 1996-1 Class A Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class A Invested amount as of such Record Date [adjusted after taking into account any reduction in the Class A Invested Amount that will occur on the following 1.00000000 Distribution date] to the Initial Class A Invested Amount [rounded to eight decimal places]) 2. The Series 1996-1 Class B Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class B Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class B Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Class B Invested Amount [rounded to eight decimal places]) 3. The Series 1996-1 Collateral Interest Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Collateral Interest Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Collateral Interest Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Collateral Interest Invested Amount [rounded to eight decimal places]) 4. The Series 1996-1 Subordinated Transferor Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Subordinated Transferor Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Subordinated Transferor Invested amount that will occur on the following 1.00000000 Distribution Date] to the Initial Subordinated Transferor Invested Amount [rounded to eight decimal places]) Pursuant to Section 9.01 of the Agreement, to the knowledge of the undersigned no Amortization Event with respect to the Series 1996-1 Certificates has occurred. The Portfolio Yield averaged for the preceding three Collection Periods was not below the Base Rate. Adjustment will be made as of the related Transfer Date such that: - The Transfer amount (plus any amounts under the Transferor Letter of Credit and the B/F Amount) will be greater than or equal to 7% of the Aggregate Invested Amount of all outstanding Series issued by the Trust. - the Transferor Amount plus the B/F Amount and the Subordinated Transferor Invested Amount (plus the invested amount of any other subordinated Series which is retained by the Transferor and with respect to which no legal opinion is delivered characterizing such certificates as indebtedness for federal income tax purposes) will be greater than 7% of Aggregate Receivables on the last day of the related Collection Period. IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 27th day of November, 1996. Bridgestone/Firestone, Inc., Servicer By: Eugene E. Stephens Servicing Officer
Bridgestone/Firestone, Inc. Bridgestone/Firestone Master Trust The undersigned, duly authorized representative of Bridgestone/Firestone, Inc. ("Bridgestone/Firestone"), as Servicer pursuant to the Pooling and Servicing Agreement as amended and restated through November 1, 1996 (the "Agreement"), as supplement by the Series Supplements, among Bridgestone/Firestone, Firestone Retail Credit Corporation, as Transferor, and The Fuji Bank and Trust Company, as Trustee, does hereby certify the information set forth below: 1. Capitalized terms in this Certificate have their respective meaning as set forth in the Agreement or Series Supplement as applicable; provided that the "related Collection Period" shall mean the Collection Period in the calendar month in which this Certificate is delivered. This certificate is delviered pursuant to subsection 3.04(b) of the Agreement. References herein to certain sections and subsections are references to the respective sections and subsections in the Agreement. 2. Bridgestone/Firestone is the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on January 2, 1997, and the related Collection Period from November 19, 1996 through December 18, 1996.
A. Information regarding the Bridgestone/Firestone Master Trust 1. Aggregate Receivables as of the end of the Period: 428,111,654.97 2. Aggregate Invested Amount as of the end of the Period: 414,123,042.03 3. (a) Transferor Amount as of the end of the Period (*): 9,707,496.39 (b) B/F Amount as of the end of the Period: 4,281,116.55 (c) Transferor Available Letter of Credit Amount for the Period: 15,000,000.00 (d) Sum of (a), (b), and (c) 28,988,612.94 4. Item 3(d) as percentage of Item 2: 7.00% 5. B/F Percentage as of the end of the related Collection Period: 1.00% * Includes Subordinated amounts for the Series, as determined for the related Collection Period of November 19, 1996 to December 18, 1996: Transferor Amount: 9,707,496.39 - Non-Subordinated 9,707,496.39 - Subordinated 1992-B 0.00 Form of Servicer's Certificate Bridgestone/Firestone, Inc. B. Information regarding performance of the Bridgestone/Firestone Master Trust Receivable Pool 1. The Outstanding Receivable balance as of the beginning of the related Collection Period was equal to: 438,364,954.85 2. The aggregate amount of billed periodic Finance Charges for the related Collection Period was equal to: 7,436,560.97 3. (a) The aggregate amount of Collections, exclusive of Recoveries and Merchant Fees, for the related Collection Period was equal to: 54,800,684.58 (b) Recoveries for the related Collection Period was equal to: 639,777.66 (c) Merchant Fees for the related Collection Period was equal to: 350,000.00 (d) The aggregate balance of Collections for the related Collection Period was equal to: 55,790,462.24 4. The aggregate amount of Principal Collections for the related Collection Period was equal to: 46,544,865.64 5. The aggregate amount of Finance Charge Collections for the related Collection Period was equal to: 9,245,596.60 6. The aggregate amount of receivables for all Accounts which became Defaulted Receivables during the related Collection Period was equal to: 4,524,734.73 7. The aggregate amount of Eligible Receivables arising under Accounts in the related Collection Period was equal to: 49,776,242.39 8. The aggregate amount of adjustments to Receivables in the related Collection Period was equal to: 704,155.54 9. The outstanding Receivable balance as of the end of the related Collection Period was equal to (Items 1+2-3(a)-6+7-8): 435,548,183.36 10. Delinquent Balances: The aggregate amounts of outstanding balances in the Accounts that were delinquent as of such Accounts' cycle billing dates occurring during the Period: (a) 1-30 Days 63,980,840.00 (b) 31-60 Days 19,884,362.09 (c) 61-90 Days 9,497,617.64 (d) 91-120 Days 6,598,944.41 (e) 121-150 Days 5,071,198.29 (f) 151-180 Days 4,125,702.38 Total 109,158,664.81 Schedule - to Monthly Servicer's Certificate with respect to the Series 1996-1 Certificates Bridgestone/Firestone, Inc. Bridgestone/Firestone Master Trust, Series 1996-1 A. Information regarding Bridgestone/Firestone Master Trust Series 1996-1 Allocation Percentages 1. Floating Allocation Percentages: Defaulted Receivables/Principal Collections - Class A 46.54% Class B 6.56% Collateral Interest 2.33% Subordinated Transferor Amount 4.24% Finance Charge Collections - Class A 47.80% Class B 6.74% Collateral Interest 2.39% Subordinated Transferor Amount 4.35% 2. Fixed Allocation Percentages: N/A 3. The amount of Finance Charge Collections allocable to Series 1996-1 (Floating Allocation Percentage, times Finance Charge Collections): Class A 4,419,691.97 Class B 623,289.91 Collateral Interest 220,984.60 Subordinated Transferor Amount 402,305.31 4. The amount of Defaulted Receivables ("Investor Default Amount") allocable to Series 1996-1 (Floating Allocation Percentage, times Defaulted Receivables): Class A 2,105,715.85 Class B 296,959.94 Collateral Interest 105,285.79 Subordinated Transferor Amount 191,674.14 5. The amount of Principal Collections allocable to Series 1996-1: (a) During the Revolving Period (Floating Allocation Percentage, times Principal Collections): Class A 21,660,996.09 Class B 3,054,755.95 Collateral Interest 1,083,049.80 Subordinated Transferor Amount 1,971,706.14 (b) During the Controlled Amortization or any Rapid Amortization Period (Fixed Allocation Percentage, times Principal Collections): N/A Bridgestone/Firestone Master Trust, Series 1996-1 B. Information regarding the application of funds for the Series 1996-1 Certificates, pursuant to Section 4.07 of the Series Supplement: 1. Amounts applicable to Class A: Class A Monthly Interest 1,028,333.33 Class A Investor Default Amount 2,105,715.85 Class A Monthly Servicing Fee 333,333.33 Reimbursement of Class A Investor Charge-Offs N/A 2. Amounts applicable to Class B: Class B Monthly Interest 152,542.74 Class B Investor Default Amount 296,959.94 Class B Monthly Servicing Fee 47,008.55 Reimbursement of Class B Investor Charge-Offs N/A 3. Amounts applicable to Collateral Interest: Collateral Interest Monthly Interest 50,805.56 Collateral Interest Investor Default Amount 105,285.79 Collateral Interest Monthly Servicing Fee 16,666.67 Reimbursement of Collateral Interest Investor Charge-Offs N/A 4. Amounts applicable to Subordinated Transferor Amount: Subordinated Transferor Investor Default Amount 191,674.14 Subordinated Transferor Monthly Servicing Fee 30,341.88 Reimbursement of Subordinated Transferor Investor Charge-Offs N/A 5. Excess Finance Charge Collections applicable to: Class A 952,309.46 Class B 126,778.68 Collateral Interest 48,226.58 Subordinated Transferor Amount 180,289.29 6. Required Amount: N/A 7. Reallocated Principal Collections N/A Bridgestone/Firestone Master Trust, Series 1996-1 C. Information on the application of Principal Collections deposited to the Collection Account for Series 1996-1 Certificates: 1. Controlled Amortization due on Distribution Date: N/A 2. Monthly Principal deposited to the Collection Account for distribution to Certificateholders: N/A 3. Deficit Controlled Amortization Amount N/A D. Information on the application of Finance Charge Collections deposited to the Collection Account for Series 1996-1 Monthly Interest: 1. Monthly Interest due on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 50,805.56 2. Monthly Interest deposited to the Collection Account on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 50,805.56 E. Information regarding Series 1996-1 Accrued and Unpaid Amounts 1. The amount of Monthly Interest previously due but not paid on a prior Distribution Date: N/A 2. The amount of Additional Interest due on the current Distribution Date: N/A 3. The amount of Additional Interest previously due but not paid on a prior Distribution Date: N/A Bridgestone/Firestone Master Trust, Series 1996-1 F. Information Regarding Series 1996-1 Certificate Balances, Invested Amounts, and Investor Charge Offs: 1. Certificate balances: Class A Certificate balance 200,000,000.00 Class B Certificate balance 28,205,129.00 Collateral Interest Certificate balance 10,000,000.00 Subordinated Transferor Certificate balance 18,205,129.00 2. Invested Amounts: Class A Invested Amount 200,000,000.00 Class B Invested Amount 28,205,129.00 Collateral Interest Invested Amount 10,000,000.00 Subordinated Transferor Invested Amount 18,205,129.00 3. Investor Charge Offs for the preceding Collection Period: N/A 4. Unreimbursed Investor Charge Offs N/A G. Information Regarding the Current Monthly Distribution to Certificateholders ("Payment Date Statement") 1. Detail of Class A distributions: Total Class A distributions 1,028,333.33 Class A interest distributions 1,028,333.33 Class A principal distributions N/A Total Class A distributions per $1000 original amount Class A Certificate 5.1416667 Class A interest distributions per $1000 original amount Class A Certificate 5.1416667 Class A principal distributions per $1000 original amount Class A Certificate N/A 2. Detail of Class B distributions: Total Class B distributions 152,542.74 Class B interest distributions 152,542.74 Class B principal distributions N/A Total Class B distributions per $1000 original amount Class B Certificate 5.4083334 Class B interest distributions per $1000 original amount Class B Certificate 5.4083334 Class B principal distributions per $1000 original amount Class B Certificate N/A 3. Detail of Collateral Interest distributions: Total Collateral Interest distributions 50,805.56 Collateral Interest interest distributions 50,805.56 Collateral Interest principal distributions N/A Total Collateral Interest distributions per $1000 original amount 5.0805560 Collateral Interest interest distributions per $1000 original amount 5.0805560 Collateral Interest principal distributions per $1000 original amount N/A Bridgestone/Firestone Master Trust, Series 1996-1 G. Information Regarding the Current Monthly Distribution to Certificateholders (""Payment Date Statement"") (continued)" 3. Detail of Subordinated Transferor Interest distributions: Subordinated Transferor Interest principal distributions N/A 4. Excess of Class A Certificate balance over Class A Invested Amount N/A 5. Excess of Class B Certificate balance over Class B Invested Amount N/A 6. Excess of Collateral Interest balance over Collateral Interest Invested Amount N/A 7. Excess of Subordinated Transferor Interest balance over Subordinated Transferor Invested Amount N/A H. Information regarding the Servicer Letter of Credit and the Transferor Letter of Credit 1. The Servicer Available Letter of Credit Amount as of the preceding Determination Date 45,000,000.00 2. The Transferor Available Letter of Credit Amount as of the preceding Determination Date 15,000,000.00 Both Letters of Credit were drawn down during the entire Collection Period. I. The Series 1996-1 Pool Factors 1. The Series 1996-1 Class A Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class A Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class A Invested Amount that will occur on the following Distribution Date] to the Initial Class A Invested Amount [rounded to eight decimal places]) 1.00000000 2. The Series 1996-1 Class B Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class B Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class B Invested Amount that will occur on the following Distribution Date] to the Initial Class B Invested Amount [rounded to eight decimal places]) 1.00000000 3. The Series 1996-1 Collateral Interest Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Collateral Interest Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Collateral Interest Invested Amount that will occur on the following Distribution Date] to the Initial Collateral Interest Invested Amount [rounded to eight decimal places]) 1.00000000 4. The Series 1996-1 Subordinated Transferor Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Subordinated Transferor Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Subordinated Transferor Invested Amount that will occur on the following Distribution Date] to the Initial Subordinated Transferor Invested Amount [rounded to eight decimal places]) 1.00000000
Bridgestone/Firestone Master Trust, Series 1996-1 Pursuant to Section 9.01 of the Agreement, to the knowledge of the undersigned no Amortization Event with respect to the Series 1996-1 Certificates has occurred. The Portfolio Yield averaged for the preceding three Collection Periods was not below the Base Rate. Adjustment will be made as of the related Transfer Date such that: - The Transferor Amount (plus any amounts under the Transferor Letter of Credit and the B/F Amount) will be greater than or equal to 7% of the Aggregate Invested Amount of all outstanding Series issued by the Trust. - The Transferor Amount plus the B/F Amount and the Subordinated Transferor Invested Amount (plus the invested amount of any other subordinated Series which is retained by the Transferor and with respect to which no legal opinion is delivered characterizing such certificates as indebtedness for federal income tax purposes) will be greater than 7% of Aggregate Receivables on the last day of the related Collection Period. IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 30th day of December, 1996. Bridgestone/Firestone, Inc., Servicer By:/S/ Eugene E. Stephens Servicing Officer
Form of Monthly Servicer's Certificate "Bridgestone/Firestone, Inc." Bridgestone/Firestone Master Trust "The undersigned, duly authorized representative of Bridgestone/Firestone, Inc. (""Bridgestone/Firestone""), as Servicer pursuant to the Pooling and Servicing Agreement as amended and restated through November 1, 1996 (the ""Agreement""), as supplement by the Series Supplements, among Bridgestone/Firestone, Firestone Retail Credit Corporation, as Transferor, and The Fuji Bank and Trust Company, as Trustee, does hereby certify the information set forth below: 1. Capitalized terms in this Certificate have their respective meaning as set forth in the Agreement or Series Supplement as applicable; provided that the "related Collection Period" shall mean the Collection Period in the calendar month in which this Certificate is delivered. This certificate is delivered pursuant to subsection 3.04(b) of the Agreement. References herein to certain sections and subsections are references to the respective sections andsubsections in the Agreement. 2. Bridgestone/Firestone is the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on February 3, 1997, and the related Collection Period from December 19, 1996, through January 18, 1997. A. Information regarding the Bridgestone/Firestone Master Trust 1. Aggregate Receivables as of the end of the related Collection Period: 423,112,478.25 2. Aggregate Invested Amount as of the end of the related Collection Period: 409,450,914.25 3. (a) Transferor Amount as of the end of the related Collection Period (*): 9,430,439.22 (b) B/F Amount as of the end of the related Collection Period: 4,231,124.78 (c) Transferor Available Letter of Credit Amount for related Collection Period: 15,000,000.00 (d) Sum of (a), (b), and (c) 28,661,564.00 4. Item 3(d) as percentage of Item 2: 7.00% 5. B/F Percentage as of the end of the related Collection Period: 1.00% * Includes Subordinated amounts for the Series, as determined for the related Collection Period of December 19, 1996, to January 18, 1997: Transferor Amount: 9,430,439.22 - Non-Subordinated 9,430,439.22 - Subordinated 1992-B 0.00 Form of Monthly Servicer's Certificate Bridgestone/Firestone, Inc. B. Information regarding performance of the Bridgestone/Firestone Master Trust Receivable Pool 1. The Outstanding Receivable balance as of the beginning of the related Collection Period was equal to: 435,548,183.36 2. The aggregate amount of billed periodic Finance Charges for the related Collection Period was equal to: 7,555,654.77 3. (a) The aggregate amount of Collections, exclusive of Recoveries and Merchant Fees, for the related Collection Period was equal to: 52,755,544.98 (b) Recoveries for the related Collection Period was equal to: 620,235.95 (c) Merchant Fees for the related Collection Period was equal to: 350,000.00 (c) The aggregate balance of Collections for the related Collection Period was equal to: 53,725,780.93 4. The aggregate amount of Principal Collections for the related Collection Period was equal to: 44,644,752.01 5. The aggregate amount of Finance Charge Collections for the related Collection Period was equal to: 9,081,028.92 6. The aggregate amount of receivables for all Accounts which became Defaulted Receivables during the related Collection Period was equal to: 4,355,980.64 7. The aggregate amount of Eligible Receivables arising under Accounts in the related Collection Period was equal to: 45,357,354.63 8. The aggregate amount of adjustments to Receivables in the related Collection Period was equal to: 681,535.12 9. The outstanding Receivable balance as of the end of the related Collection Period was equal to (Items 1+2-3(a)-6+7-8): 430,668,132.02 10. Delinquent Balances: The aggregate amounts of outstanding balances in the Accounts that were delinquent as of such Accounts' cycle billing dates occurring during the related Collection Period: (a) 1-30 Days 66,906,589.08 (b) 31-60 Days 22,181,509.04 (c) 61-90 Days 10,358,200.69 (d) 91-120 Days 6,892,838.46 (e) 121-150 Days 5,273,531.87 (f) 151-180 Days 4,237,008.01 Total 115,849,677.15 A. Information regarding Bridgestone/Firestone Master Trust Series 1996-1 Allocation 1. Floating allocation Percentages: Defaulted Receivables/Principal Collections 46.72% Class A 6.59% Class B 2.34% Collateral Interest 2.34% Subordinated Transferor Amount 4.25% Finance Charge Collections Class A 47.80% Class B 6.74% Collateral Interest 2.39% Subordinated Transferor Amount 4.35 2. Fixed allocation Percentages: N/A 3. The amount of finance Charge Collections allocable to Series 1996-1 (Floating Allocation Percentage, times Finance Charge Collections): Class A 4,340,792.86 Class B 612,163.11 Collateral Interest 217,039.64 Subordinated Transferor Amount 395,123.47 4. The amount of Defaulted Receivables ("Investor Default Amount") allocable to Series 1996-1 (Floating Allocation Percentage, times Defaulted Receivables): Class A 2,034,974.10 Class B 286,983.53 Collateral Interest 101,748.70 Subordinated Transferor Amount 185,234.83 5. The amount of Principal Collections allocable to Series 1996-1 (a) During the Revolving Period (Floating Allocation Percentage, times Principal Collections): Class A 20,856,592.66 Class B 2,941,314.43 Collateral Interest 1,042,829.63 Subordinated Transferor Amount 1,898,484.80 (b) During the Controlled Amortization or any Rapid Amortization Period (Fixed Allocation Percentage, N/A times Principal Collections): B. Information regarding the application of funds for the Series 1996-1 Certificates, pursuant to Section 4.07 of the Series Supplement: 1. Amounts applicable to Class A: Class A Monthly Interest 1,028,333.33 Class A Investor Default Amount 2,034,974.10 Class A Monthly Servicing Fee 33,333.33 Reimbursement of Class A Investor N/A Charge-Offs 2. Amounts applicable to Class B: Class B Monthly Interest 152,542.74 Class B Investor Default Amount 286,983.52 Class B Monthly Servicing Fee 47,008.55 Reimbursement of Class B Investor N/A Charge-Offs 3. Amounts applicable to Collateral Interest: Collateral Interest Monthly Interest 50,267.36 Collateral Interest Investor Default Amount 101,748.70 Collateral Interest Monthly Servicing Fee 16,666.67 Reimbursement of Collateral Interest N/A Investor Charge-Offs 4. Amounts applicable to Subordinated Transferor Amount: Subordinated Transferor Investor Default Amount 185,234.83 Subordinated Transferor Monthly Servicing Fee 30,341.88 Reimbursement of Subordinated Transferor N/A Investor Charge-Offs 5. Excess Finance Charge Collections applicable to: Class A 944,152.10 Class B 125,628.29 Collateral Interest 48,356.91 Subordinated Transferor Amount 179,546.76 6. Required Amount: N/A 7. Reallocated Principal Collections N/A C. Information on the application of Principal Collections deposited to the Collection Account for Series 1996-1 Certificates: 1. Controlled Amortization due on Distribution Date: N/A 2. Monthly Principal deposited to the Collection N/A Account for distribution to Certificateholders: 3. Deficit Controlled Amortization Amount: N/A D. Information on the application of Finance Charge Collections deposited to the Collection Account for Series 1996-1 Monthly Interest: 1. Monthly Interest due on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 50,267.36 2. Monthly Interest deposited to the Collection Account on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 50,267.36 E. Information regarding Series 1996-1 Accrued and Unpaid Amounts 1. The amount of Monthly Interest previously due but not N/A paid on a prior Distribution Date: 2. The amount of Additional Interest due on the N/A current Distribution Date: 3. The amount of Additional Interest previously due but not N/A paid on a prior Distribution Date: F. Information Regarding Series 1996-1 Certificate Balances, Invested Amounts, and Investor Charge Offs: 1. Certificate balances: Class A Certificate balance 200,000,000.00 Class B Certificate balance 28,205,129.00 Collateral Interest Certificate balance 10,000,000.00 Subordinated Transferor Certificate balance 18,205,129.00 2. Invested Amounts: Class A Invested Amount 200,000,000.00 Class B Invested Amount 28,205,129.00 Collateral Interest Invested Amount 10,000,000.00 3. Investor Charge Offs for the preceding Collection Period: N/A 4. Unreimbursed Investor Charge Offs N/A G. Information Regarding the Current Monthly Distribution to Certificateholders ("Payment Date Statement") 1. Detail of Class A distributions: Total Class A distributions 1,028,333.33 Class A interest distributions 1,028,333.33 Class A principal distributions N/A Total Class A distributions per $1000 original amount Class A Certificate 5.1416667 Class A interest distributions per $1000 original amount 5.1416667 Class A Certificate Class A principal distributions per $1000 original amount N/A Class A Certificate 2. Detail of Class B distributions: Total Class B distributions 152,542.74 Class B interest distributions 152,542.74 Class B principal distributions N/A Total Class B distributions per $1000 original amount Class B 5.4083334 Certificate Class B interest distributions per $1000 original amount 5.4083334 Class B Certificate Class B principal distributions per $1000 original amount N/A Class B Certificate 3. Detail of Collateral Interest distributions: Total Collateral Interest distributions 50,267.36 Collateral Interest interest distributions 50,267.36 Collateral Interest principal distributions N/A Total Collateral Interest distributions per $1000 original 5.0267360 amount Collateral Interest interest distributions per $1000 original 5.0267360 amount Collateral Interest principal distributions per $1000 N/A original amount G. Information Regarding the Current Monthly Distribution to Certificateholders ("Payment Date Statement") (continued) 3. Detail of Subordinated Transferor Interest distributions: Subordinated Transferor Interest principal distributions N/A 4. Excess of Class A Certificate balance over Class A Invested Amount N/A 5. Excess of Class B Certificate balance over Class B Invested Amount N/A 6. Excess of Collateral Interest balance over N/A Collateral Interest Invested Amount 7. Excess of Subordinated Transferor Interest N/A balance over Subordinated Transferor Invested Amount H. Information regarding the Servicer Letter of Credit and the Transferor Letter of Credit 1. The Servicer Available Letter of Credit Amount as of the preceding Determination Date 45,000,000.00 2. The Transferor Available Letter of Credit Amount as of the preceding Determination Date 15,000,000.00 Both letters of Credit were drawn down during the entire Collection Period. I. The Series 1996-1 Pool Factors 1. The Series 1996-1 Class A Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class A Invested Amount as of such Recorded Date [adjusted after taking into account any reduction in the Class A Invested Amount that will occur on the following Distribution Date] to the Initial Class A Invested amount [rounded to eight decimal places]) 1.00000000 2. The Series 1996-1 Class B Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class B Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class B Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Class B Invested Amount [rounded to eight decimal places]) 3. The Series 1996-1 Collateral Interest Pool Factor for the preceding record Date (which represents the ratio of the amount of the Collateral Interest Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Collateral Interest Invested 1.00000000 Amount that will occur on the following Distribution Date] to the Initial Collateral Interest Invested Amount [rounded to eight decimal places]) 4. The Series 1996-1 Subordinated Transferor Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Subordinated Transferor Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Subordinated Transferor Invested Amount that will occur on 1.00000000 the following Distribution Date] to the Initial Subordinated Transferor Invested amount [rounded to eight decimal places]) Pursuant to Section 9.01 of the Agreement, to the knowledge of the undersigned no Amortization Event with respect to the Series 1996-1 Certificates has occurred. The Portfolio Yield averaged for the preceding three Collection Periods was not below the Base Rate. Adjustment will be made as of the related Transfer Date such that: - The Transferor Amount (plus any amounts under the Transferor Letter of Credit and the B/F Amount) will be greater than or equal to 7% of the Aggregate Invested Amount of all outstanding Series issued by the Trust. - The Transferor Amount plus the B/F Amount and the Subordinated Transferor Invested Amount (plus the invested amount of any other subordinated Series which is retained by the Transferor and with respect to which no legal opinion is delivered characterizing such certificates as indebtedness for federal income tax purposes) will be greater than 7% of Aggregate Receivables on the last day of the related Collection Period.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 30th day of January, 1997. Bridgestone/Firestone, Inc. Servicer By: /s/ Servicing Officer
Bridgestone/Firestone, Inc. Bridgestone/Firestone Master Trust The undersigned, duly authorized representative of Bridgestone/Firestone, Inc. ("Bridgestone/Firestone"), as Servicer pursuant to the Pooling and Servicing Agreement as amended and restated through November 1, 1996 (the "Agreement"), as supplement by the Series supplements, among Bridgestone/ Firestone, Firestone Retail Credit Corporation, as Transferor, and The Fuji Bank and Trust Company, as Trustee, does hereby certify the information set forth below: 1. Capitalized terms in this Certificate have their respective meaning as set forth in the Agreement or Series Supplement as applicable; provided that the "related Collection Period" shall mean the Collection Period in the calendar month in which this Certificate delivered. This certificate is delivered pursuant to subsection 3.04(b) of the Agreement. References herein to certain sections and subsections are references to the respective sections and subsections in the Agreement. 2. Bridgestone/Firestone is the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on March 3, 1997, and the related Collection Period from January 19, 1997, through February 18, 1997. A. Information regarding the Bridgestone/Firestone Master Trust 1. Aggregate Receivables as of the end of the related Collection Period: 412,121,299.56 2. Aggregate Invested Amount as of the end of the related Collection Period: 399,178,784.64 3. (a) Transferor Amount as of the end of the related Collection Period (*): 8,821,301.92 (b) B/F Amount as of the end of the related Collection Period: 4,121,213.00 (c) Transferor Available Letter of Credit Amount for related Collection Period: 15,000,000.00 (d) Sum of (a), (b), and (c) 27,942,514.92 4. Item 3(d) as percentage of Item 2: 7.00% 5. B/F Percentage as of the end of the related Collection Period: 1.00% * Includes Subordinated amounts for the Series, as determined for the related Collection Period of January 19, 1997, to February 18, 1997: Transferor Amount: 8,821,301.92 - Non-Subordinated 8,821,301.92 - Subordinated 1992-B 0.00 Form of Monthly Servicer's Certificate "Bridgestone/Firestone, Inc." B. Information regarding performance of the Bridgestone/Firestone Master Trust Receivable Pool 1. The Outstanding Receivable balance as of the beginning of the related Collection Period was equal to: 430,668,132.02 2. The aggregate amount of billed periodic Finance Charges for the related Collection Period was equal to: 7,446,371.08 3. (a) The aggregate amount of Collections, exclusive of Recoveries and Merchant Fees, for the related Collection Period was equal to: 57,428,090.62 (b) Recoveries for the related Collection Period was equal to: 633,801.82 (c) Merchant Fees for the related Collection Period was equal to: 350,000.00 (c) The aggregate balance of Collections for the related Collection Period was equal to: 58,411,892.44 4. The aggregate amount of Principal Collections for the related Collection Period was equal to: 49,242,667.89 5. The aggregate amount of Finance Charge Collections for the related Collection Period was equal to: 9,169,224.55 6. The aggregate amount of receivables for all Accounts which became Defaulted Receivables during the related Collection Period was equal to: 4,553,913.02 7. The aggregate amount of Eligible Receivables arising under Accounts in the related Collection Period was equal to: 44,166,821.44 8. The aggregate amount of adjustments to Receivables in the related Collection Period was equal to: 731,655.92 9. The outstanding Receivable balance as of the end of the related Collection Period was equal to (Items 1+2-3(a)-6+7-8): 419,567,664.98 10. Delinquent Balances: The aggregate amounts of outstanding balances in the Accounts that were delinquent as of such Accounts' cycle billing dates occurring during the related Collection Period: (a) 1-30 Days 59,670,258.72 (b) 31-60 Days 20,649,528.49 (c) 61-90 Days 10,366,039.35 (d) 91-120 Days 6,920,792.21 (e) 121-150 Days 5,262,202.55 (f) 151-180 Days 4,297,478.29 Total 107,166,299.61 A. Information regarding Bridgestone/Firestone Master Trust Series 1996-1 Allocation Percentages 1. Floating Allocation Percentages: Defaulted Receivables/Principal Collections- Class A 47.27% Class B 6.67% Collateral Interest 2.36% Subordinated Transferor Amount 4.30% Finance Charge Collections- Class A 48.35% Class B 6.82% Collateral Interest 2.42% Subordinated Transferor Amount 4.40% 2. Fixed Allocation Percentages: N/A 3. The amount of Finance Charge Collections allocable to Series 1996-1 (Floating Allocation Percentage, times Finance charge Collections); Class A 4,432,981.70 Class B 625,164.10 Collateral Interest 221,649.09 Subordinated Transferor Amount 403,515,02 4. The amount of Defaulted Receivables ("Investor Default Amount") allocable to Series 1996-1 (Floating Allocation Percentage, times Defaulted Receivables); Class A 2,152,577.98 Class B 303,568,70 Collateral Interest 107,628.90 Subordinated Transferor Amount 195,939.80 5. The amount of Principal Collections allocable to Series 1996-1: (a) During the Revolving Period (Floating Allocation Percentage, times Principal Collections); Class A 23,276,395.96 Class B 3,282,568.75 Collateral Interest 1,163,819.80 Subordinated Transferor Amount 2,118,748.96 (b) During the Controlled Amortization or any Rapid Amortization Period (Fixed Allocation Percentage, times Principal Collections): N/A B. Information regarding the application of funds for the Series 1996-1 Certificates, pursuant to Section 4.07 of the Series Supplement: 1. Amounts applicable to Class A: Class A Monthly Interest 1,028,333.33 Class A Investor Default Amount 2,152,577.98 Class A Monthly Servicing Fee 333,333.33 2. Amounts applicable to Class B: Class B Monthly Interest 152,542.74 Class B Investor Default Amount 303,568.70 Class B Monthly Servicing Fee 47,008.55 Reimbursement of Class B Investor Charge-Offs N/A 3. Amounts applicable to Collateral Interest: Collateral Interest Monthly Interest 46,538.20 Collateral Interest Investor Default Amount 107,628.90 Collateral Interest Monthly Servicing Fee 16,666.67 Reimbursement of Collateral Interest Investor Charge-Offs N/A 4. Amounts applicable to Subordinated Transferor Amount: Subordinated Transferor Investor Default Amount 195,939.80 Subordinated Transferor Monthly Servicing Fee 30,341.88 Reimbursement of Subordinated Transferor Investor Charge-offs N/A 5. Excess Finance Charge Collections applicable to: Class A 918,737.06 Class B 122,044.11 Collateral Interest 50,815.32 Subordinated Transferor Amount 177,233.34 6. Required Amount: N/A 7. Reallocated Principal Collections N/A C. Information on the application of Principal Collections deposited to the Collection Account for Series 1996-1 Certificates: 1. Controlled Amortization due on Distribution Date: N/A 2. Monthly Principal deposited to the Collection Account for distribution to Certificateholders; N/A 3. Deficit Controlled Amortization Amount N/A D. Information on the application of Finance Charge Collections deposited to the Collection Account for Series 1996-1 Monthly Interest: 1. Monthly Interest due on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 46,538.20 2. Monthly Interest deposited to the Collection Account on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 46,538.20 E. Information regarding Series 1996-1 Accrued and Unpaid Amounts 1. The amount of Monthly Interest previously due but not paid on a prior Distribution Date: N/A 2. The amount of Additional Interest due on the current Distribution Date: N/A 3. The amount of Additional Interest previously due but not paid on a prior N/A Distribution Date: F. Information Regarding Series 1996-1 Certificate Balances, Invested Amounts, and Investor Charge Offs: 1. Certificate balances: Class A Certificate balance 200,000,000.00 Class B Certificate balance 28,205,129.00 Collateral Interest Certificate balance 10,000,000.00 Subordinated Transferor Certificate balance 18,205,129.00 2. Invested Amounts: Class A Invested Amount 200,000,000.00 Class B Invested Amount 28,205,129.00 Collateral Interest Invested Amount 10,000,000.00 Subordinated Transferor Invested Amount 18,205,129.00 3. Investor Charge Offs for the preceding Collection N/A Period: 4. Unreimbursed Investor Charge Offs N/A G. Information Regarding the Current Monthly Distribution to Certificatedholders (Payment Date Statement) 1. Detail of Class A distributions: Total Class A distributions 1,028,333.33 Class A interest distributions 1,028,333.33 Class A principal distributions N/A Total Class A distributions per $1000 original amount Class A 5.1416667 Certificate Class A interest distributions per $1000 original amount Class A 5.1416667 Certificate Class A principal distributions per $1000 original amount Class A N/A Certificate 2. Detail of Class B distributions: Total Class B distributions 152,542.74 Class B interest distributions 152,542.74 Class B principal distributions N/A Total Class B distributions per $1000 original 5.4083334 amount Class B Certificate Class B interest distributions per $1000 original 5.4083334 amount Class B Certificate Class B principal distributions per $1000 original N/A amount Class B Certificate 3. Detail of Collateral Interest distributions: Total Collateral Interest distributions 46,538.20 Collateral Interest interest distributions 46,538.20 Collateral Interest principal distributions N/A Total Collateral Interest distributions per $1000 4.6538200 original amount Collateral Interest interest distributions per 4.6538200 $1000 original amount Collateral Interest principal distributions per N/A $1000 original amount 3. Detail of Subordinated Transferor Interest distributions: N/A Subordinated Transferor Interest principal distributions 4. Excess of Class A Certificate balance over class A N/A Invested Amount 5. Excess of Class B Certificate balance over Class B N/A Invested Amount 6. Excess of Collateral Interest balance over Collateral Interest Invested N/A Amount 7. Excess of Subordinated Transferor Interest balance over Subordinated N/A Transferor Invested Amount H. Information regarding the Servicer Letter of Credit and the Transferor Letter of Credit 1. The Servicer Available Letter of Credit Amount as of the preceding 45,000,000.00 Determination Date 2. The Transferor Available Letter of Credit Amount as of the preceding 15,000,000.00 Determination Date Both Letters of Credit were drawn down during the entire Collection Period I. The Series 1996-1 Pool Factors 1. The Series 1996-1 Class A Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class A Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class A Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Class A Invested Amount [rounded to eight decimal places]) 2. The Series 1996-1 Class B Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class B Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class B Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Class B Invested Amount [rounded to eight decimal places]) 3. The Series 1996-1 Collateral Interest Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Collateral Interest Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Collateral Interest Invested Amount that will occur on the following Distribution Date to the 1.00000000 Initial Collateral Interest Invested Amount rounded to eight decimal places]) 4. The Series 1996-1 Subordinated Transferor Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Subordinated Transferor Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Subordinated Transferor Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Subordinated Transferor Invested Amount [rounded to eight decimal places]) Pursuant to Section 9.01 of the Agreement, to the knowledge of the undersigned no Amortization Event with respect to the Series 1996-1 Certificates has occurred. The Portfolio Yield averaged for the preceding three Collection Periods was not below the Base Rate. Adjustment will be made as of the related Transfer Date such that: - The Transferor Amount (plus any amounts under the Transferor Letter of Credit and the B/F Amount) will be greater than or equal to 7% of the Aggregate Invested Amount of all outstanding Series issued by the Trust. - The Transferor Amount plus the B/F Amount and the Subordinated Transferor Invested Amount (plus the invested amount of any other subordinated Series which is retained by the Transferor and with respect to which no legal opinion is delivered characterizing such certificates as indebtedness for federal income tax purposes) will be greater than 7% of Aggregate Receivables on the last day of the related Collection Period.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 27th day of February, 1997. Bridgestone/Firestone, Inc., Servicer By:/s/ Eugene E. Stephens Servicing Officer
Bridgestone/Firestone, Inc. Bridgestone/Firestone Master Trust The undersigned, duly authorized representative of Bridgestone/Firestone, Inc. ("Bridgestone/Firestone"), as Servicer pursuant to the Pooling and Servicing Agreement as amended and restated through November 1, 1996 (the "Agreement"), as supplement by the Series supplements, among Bridgestone/ Firestone, Firestone Retail Credit Corporation, as Transferor, and The Fuji Bank and Trust Company, as Trustee, does hereby certify the information set forth below: 1. Capitalized terms in this Certificate have their respective meaning as set forth in the Agreement or Series Supplement as applicable; provided that the "related Collection Period" shall mean the Collection Period in the calendar month in which this Certificate delivered. This certificate is delivered pursuant to subsection 3.04(b) of the Agreement. References herein to certain sections and subsections are references to the respective sections and subsections in the Agreement. 2. Bridgestone/Firestone is the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on February 19, 1997, and the related Collection Period from January 19, 1997, through March 18, 1997. A. Information regarding the Bridgestone/Firestone Master Trust 1. Aggregate Receivables as of the end of the related Collection Period: 398,570,401.78 2. Aggregate Invested Amount as of the end of the related Collection Period: 386,514,394.19 3. (a) Transferor Amount as of the end of the related Collection Period (*): 8,070,303.57 (b) B/F Amount as of the end of the related Collection Period: 3,985,704.02 (c) Transferor Available Letter of Credit Amount for related Collection Period: 15,000,000.00 (d) Sum of (a), (b), and (c) 27,056,007.59 4. Item 3(d) as percentage of Item 2: 7.00% 5. B/F Percentage as of the end of the related Collection Period: 1.00% * Includes Subordinated amounts for the Series, as determined for the related Collection Period of January 19, 1997, to February 18, 1997: Transferor Amount: 8,070,303.57 - Non-Subordinated 8,070,303.57 - Subordinated 1992-B 0.00 Form of Monthly Servicer's Certificate "Bridgestone/Firestone, Inc." B. Information regarding performance of the Bridgestone/Firestone Master Trust Receivable Pool 1. The Outstanding Receivable balance as of the beginning of the related Collection Period was equal to: 419,567,664.98 2. The aggregate amount of billed periodic Finance Charges for the related Collection Period was equal to: 7,047,634.64 3. (a) The aggregate amount of Collections, exclusive of Recoveries and Merchant Fees, for the related Collection Period was equal to: 58,353,556.56 (b) Recoveries for the related Collection Period was equal to: 835,568.50 (c) Merchant Fees for the related Collection Period was equal to: 350,000.00 (c) The aggregate balance of Collections for the related Collection Period was equal to: 59,539,125.06 4. The aggregate amount of Principal Collections for the related Collection Period was equal to: 50,160,067.46 5. The aggregate amount of Finance Charge Collections for the related Collection Period was equal to: 9,379,057.60 6. The aggregate amount of receivables for all Accounts which became Defaulted Receivables during the related Collection Period was equal to: 4,483,933.67 7. The aggregate amount of Eligible Receivables arising under Accounts in the related Collection Period was equal to: 42,565,200.11 8. The aggregate amount of adjustments to Receivables in the related Collection Period was equal to: 725,082.29 9. The outstanding Receivable balance as of the end of the related Collection Period was equal to (Items 1+2-3(a)-6+7-8): 405,617,927.21 10. Delinquent Balances: The aggregate amounts of outstanding balances in the Accounts that were delinquent as of such Accounts' cycle billing dates occurring during the related Collection Period: (a) 1-30 Days 59,103,717.63 (b) 31-60 Days 18,574,766.75 (c) 61-90 Days 9,748,488.93 (d) 91-120 Days 6,686,389.63 (e) 121-150 Days 5,116,488.76 (f) 151-180 Days 4,104,935.47 Total 103,334,787.17 A. Information regarding Bridgestone/Firestone Master Trust Series 1996-1 Allocation Percentages 1. Floating Allocation Percentages: Defaulted Receivables/Principal Collections- Class A 48.53% Class B 6.84% Collateral Interest 2.43% Subordinated Transferor Amount 4.42% Finance Charge Collections- Class A 49.59% Class B 6.99% Collateral Interest 2.48% Subordinated Transferor Amount 4.51% 2. Fixed Allocation Percentages: N/A 3. The amount of Finance Charge Collections allocable to Series 1996-1 (Floating Allocation Percentage, times Finance charge Collections); Class A 4,651,156.78 Class B 655,932.39 Collateral Interest 232,557.84 Subordinated Transferor Amount 423,374.55 4. The amount of Defaulted Receivables ("Investor Default Amount") allocable to Series 1996-1 (Floating Allocation Percentage, times Defaulted Receivables); Class A 2,176,026.17 Class B 306,875.49 Collateral Interest 108,801.31 Subordinated Transferor Amount 198,074.19 5. The amount of Principal Collections allocable to Series 1996-1: (a) During the Revolving Period (Floating Allocation Percentage, times Principal Collections); Class A 24,342,380.51 Class B 3,432,899.91 Collateral Interest 1,217,119.03 Subordinated Transferor Amount 2,215,780.89 (b) During the Controlled Amortization or any Rapid Amortization Period (Fixed Allocation Percentage, times Principal Collections): N/A B. Information regarding the application of funds for the Series 1996-1 Certificates, pursuant to Section 4.07 of the Series Supplement: 1. Amounts applicable to Class A: Class A Monthly Interest 1,028,333.33 Class A Investor Default Amount 2,176,026.17 Class A Monthly Servicing Fee 333,333.33 Reimbursement of Class A Investor Charge-Offs N/A 2. Amounts applicable to Class B: Class B Monthly Interest 152,542.74 Class B Investor Default Amount 306,875.49 Class B Monthly Servicing Fee 47,008.55 Reimbursement of Class B Investor Charge-Offs N/A 3. Amounts applicable to Collateral Interest: Collateral Interest Monthly Interest 46,520.83 Collateral Interest Investor Default Amount 108,801.31 Collateral Interest Monthly Servicing Fee 16,666.67 Reimbursement of Collateral Interest Investor Charge-Offs N/A 4. Amounts applicable to Subordinated Transferor Amount: Subordinated Transferor Investor Default Amount 198,074.19 Subordinated Transferor Monthly Servicing Fee 30,341.88 Reimbursement of Subordinated Transferor Investor Charge-offs N/A 5. Excess Finance Charge Collections applicable to: Class A 1,113,463.95 Class B 149,505.61 Collateral Interest 60,569.03 Subordinated Transferor Amount 194,958.48 6. Required Amount: N/A 7. Reallocated Principal Collections N/A C. Information on the application of Principal Collections deposited to the Collection Account for Series 1996-1 Certificates: 1. Controlled Amortization due on Distribution Date: N/A 2. Monthly Principal deposited to the Collection Account for distribution to Certificateholders; N/A 3. Deficit Controlled Amortization Amount N/A D. Information on the application of Finance Charge Collections deposited to the Collection Account for Series 1996-1 Monthly Interest: 1. Monthly Interest due on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 46,520.83 2. Monthly Interest deposited to the Collection Account on Distribution Date: Class A 1,028,333.33 Class B 152,542.74 Collateral Interest 46,520.83 E. Information regarding Series 1996-1 Accrued and Unpaid Amounts 1. The amount of Monthly Interest previously due but not paid on a prior Distribution Date: N/A 2. The amount of Additional Interest due on the current Distribution Date: N/A 3. The amount of Additional Interest previously due but not paid on a prior N/A Distribution Date: F. Information Regarding Series 1996-1 Certificate Balances, Invested Amounts, and Investor Charge Offs: 1. Certificate balances: Class A Certificate balance 200,000,000.00 Class B Certificate balance 28,205,129.00 Collateral Interest Certificate balance 10,000,000.00 Subordinated Transferor Certificate balance 18,205,129.00 2. Invested Amounts: Class A Invested Amount 200,000,000.00 Class B Invested Amount 28,205,129.00 Collateral Interest Invested Amount 10,000,000.00 Subordinated Transferor Invested Amount 18,205,129.00 3. Investor Charge Offs for the preceding Collection N/A Period: 4. Unreimbursed Investor Charge Offs N/A G. Information Regarding the Current Monthly Distribution to Certificatedholders (Payment Date Statement) 1. Detail of Class A distributions: Total Class A distributions 1,028,333.33 Class A interest distributions 1,028,333.33 Class A principal distributions N/A Total Class A distributions per $1000 original amount Class A 5.1416667 Certificate Class A interest distributions per $1000 original amount Class A 5.1416667 Certificate Class A principal distributions per $1000 original amount Class A N/A Certificate 2. Detail of Class B distributions: Total Class B distributions 152,542.74 Class B interest distributions 152,542.74 Class B principal distributions N/A Total Class B distributions per $1000 original 5.4083334 amount Class B Certificate Class B interest distributions per $1000 original 5.4083334 amount Class B Certificate Class B principal distributions per $1000 original N/A amount Class B Certificate 3. Detail of Collateral Interest distributions: Total Collateral Interest distributions 46,520.83 Collateral Interest interest distributions 46,520.83 Collateral Interest principal distributions N/A Total Collateral Interest distributions per $1000 4.6520830 original amount Collateral Interest interest distributions per 4.6520830 $1000 original amount Collateral Interest principal distributions per N/A $1000 original amount 3. Detail of Subordinated Transferor Interest distributions: N/A Subordinated Transferor Interest principal distributions 4. Excess of Class A Certificate balance over class A N/A Invested Amount 5. Excess of Class B Certificate balance over Class B N/A Invested Amount 6. Excess of Collateral Interest balance over Collateral Interest Invested N/A Amount 7. Excess of Subordinated Transferor Interest balance over Subordinated N/A Transferor Invested Amount H. Information regarding the Servicer Letter of Credit and the Transferor Letter of Credit 1. The Servicer Available Letter of Credit Amount as of the preceding 45,000,000.00 Determination Date 2. The Transferor Available Letter of Credit Amount as of the preceding 15,000,000.00 Determination Date Both Letters of Credit were drawn down during the entire Collection Period I. The Series 1996-1 Pool Factors 1. The Series 1996-1 Class A Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class A Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class A Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Class A Invested Amount [rounded to eight decimal places]) 2. The Series 1996-1 Class B Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Class B Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Class B Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Class B Invested Amount [rounded to eight decimal places]) 3. The Series 1996-1 Collateral Interest Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Collateral Interest Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Collateral Interest Invested Amount that will occur on the following Distribution Date to the 1.00000000 Initial Collateral Interest Invested Amount rounded to eight decimal places]) 4. The Series 1996-1 Subordinated Transferor Pool Factor for the preceding Record Date (which represents the ratio of the amount of the Subordinated Transferor Invested Amount as of such Record Date [adjusted after taking into account any reduction in the Subordinated Transferor Invested Amount that will occur on the following 1.00000000 Distribution Date] to the Initial Subordinated Transferor Invested Amount [rounded to eight decimal places]) Pursuant to Section 9.01 of the Agreement, to the knowledge of the undersigned no Amortization Event with respect to the Series 1996-1 Certificates has occurred. The Portfolio Yield averaged for the preceding three Collection Periods was not below the Base Rate. Adjustment will be made as of the related Transfer Date such that: - The Transferor Amount (plus any amounts under the Transferor Letter of Credit and the B/F Amount) will be greater than or equal to 7% of the Aggregate Invested Amount of all outstanding Series issued by the Trust. - The Transferor Amount plus the B/F Amount and the Subordinated Transferor Invested Amount (plus the invested amount of any other subordinated Series which is retained by the Transferor and with respect to which no legal opinion is delivered characterizing such certificates as indebtedness for federal income tax purposes) will be greater than 7% of Aggregate Receivables on the last day of the related Collection Period.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this 27th day of February, 1997. Bridgestone/Firestone, Inc., Servicer By:/s/ Eugene E. Stephens Servicing Officer -----END PRIVACY-ENHANCED MESSAGE-----