-----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, Qr0e6hMqfJORfqWRtDnwitDqe2mAbDuZg+i5TSSsW2QtFs73H8GPePCyCK5Sh8uI IxHb7sbOsfJZBN6Whq8cBg== 0000839947-01-500055.txt : 20010521 0000839947-01-500055.hdr.sgml : 20010521 ACCESSION NUMBER: 0000839947-01-500055 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010327 ITEM INFORMATION: FILED AS OF DATE: 20010518 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIBANK CREDIT CARD MASTER TRUST I CENTRAL INDEX KEY: 0000921864 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: SEC FILE NUMBER: 333-80743-02 FILM NUMBER: 1643784 BUSINESS ADDRESS: STREET 1: 701 E 60TH STREET NORTH CITY: SIOUX FALLS STATE: SD ZIP: 57117 BUSINESS PHONE: 6053312626 FORMER COMPANY: FORMER CONFORMED NAME: STANDARD CREDIT CARD MASTER TRUST I DATE OF NAME CHANGE: 19940419 8-K 1 it041701.txt CCC ISSUANCE TRUST 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): April 16, 2001 ------------------------------------ CITIBANK (SOUTH DAKOTA), N.A. ON BEHALF OF CITIBANK CREDIT CARD MASTER TRUST I (Issuer of the Collateral Certificate) and CITIBANK CREDIT CARD ISSUANCE TRUST (Issuer of the Citiseries Class A notes, Class B notes and Class C notes) (Exact name of registrant as specified in charter) UNITED STATES OF AMERICA (State or other jurisdiction of incorporation) 46-0358360 (I.R.S. Employer Identification No.) 333-80743 (Commission File 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. Citibank Credit Card Issuance Trust (the "issuer") has issued Class A notes, Class B notes and Class C notes of the Citiseries pursuant to an Indenture between the issuer and Bankers Trust Company, as trustee. The issuer's primary asset -- and its primary source of funds for the payment of principal of and interest on the notes -- is a collateral certificate issued by Citibank Credit Card Master Trust I (the "master trust") to the issuer. The collateral certificate represents an undivided interest in the assets of the master trust. The master trust assets consist primarily of credit card receivables arising in a portfolio of revolving credit card accounts. Filed as Exhibit 99.1 to this Form 8-K is a copy of the monthly issuer's report containing information regarding the notes of the Citiseries, the master trust's assets and the collateral certificate for the due period ending March 27, 2001 and the related payment dates for the notes delivered pursuant to Section 907 of the Indenture. 2 Item 7(c). Exhibits Exhibits Description -------- ----------- 99.1 Monthly Issuer's Report for the Due Period ending March 27, 2001 and the related Payment Dates for the Notes. 3 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 Managing Beneficiary of Citibank Credit Card Issuance Trust and as Servicer of Citibank Credit Card Master Trust I By: /s/ Douglas Morrison -------------------------------- Douglas Morrison Vice President Dated: April 16, 2001 4 CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION ============================================================================== CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I For the Due Period Ending March 27, 2001 ============================================================================== This Report relates to the Due Period ending March 27, 2001 and the related Payment Dates for the Notes. A. Information Regarding the Master Trust portfolio ------------------------------------------------ 1. Portfolio Yield for the Collateral Certificate ........ 13.17% Yield Component ................................... 16.90% Credit Loss Component ............................. 3.73% 2. New Purchase Rate ..................................... 20.88% 3. Total Payment Rate .................................... 21.10% 4. Principal Payment Rate ................................ 20.10% 5. Aggregate Amount of Principal Receivables in the Master Trust: Beginning of Due Period ............................ $ 52,523,129,930 Average ............................................ $ 52,069,654,991 Lump Sum Addition .................................. $ 0 End of Due Period .................................. $ 52,272,056,417 6. Delinquencies (Aggregate outstanding balances in the Accounts that were delinquent by the time periods listed below as of the close of business of the month preceding the Payment Dates, as a percentage of aggregate Receivables as of the last day of the Due Period) : Current ........................................... $ 48,446,606,968 5-34 days delinquent ........................... $ 2,219,709,060 35-64 days delinquent ........................... $ 690,410,172 65-94 days delinquent ........................... $ 463,968,722 95-124 days delinquent ........................... $ 368,656,749 125-154 days delinquent ........................... $ 327,201,774 155-184 days delinquent ........................... $ 227,881,417 Current ........................................... 91.85% 5-34 days delinquent ........................... 4.21% 35-64 days delinquent ........................... 1.31% 65-94 days delinquent ........................... 0.88% 95-124 days delinquent ........................... 0.70% 125-154 days delinquent ........................... 0.62% 155-184 days delinquent ........................... 0.43% Page 5 CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION ============================================================================== CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I For the Due Period Ending March 27, 2001 ============================================================================== Current Due Current Due Period on an Period on a Actual Basis 1 Standard Basis 1 B. Information Regarding the Collateral Certificate ------------------------------------------------ (Percentage Basis) 1. Portfolio Yield 13.17% 13.17% 2. Weighted Average Note Rate 5.63% 5.63% 3. Weighted Average Investor Fee Rates Fixed Servicing Fee 0.37% 0.37% Others 0.00% 0.00% 4. Surplus Finance Charge Collections 7.17% 7.17% 5. Surplus Finance Charge Collections For Purposes of Funding Class C Reserve Account 6.84% 6.84% 6. Required Surplus Finance Charge Amount 0.00% 0.00% 7. Aggregate Surplus Finance Charge Amount minus Required Surplus Finance Charge Amount 7.17% 7.17% C. Information Regarding the Collateral Certificate ------------------------------------------------ (Dollars Basis) 1. Total Investor Collections $ 2,839,413,392 $ 2,839,413,392 Principal Collections $ 2,643,803,494 $ 2,643,803,494 Finance Charge Collections $ 195,609,898 $ 195,609,898 2. Investor Default Amount $ 43,049,674 $ 43,049,674 3. Investor Monthly Interest $ 66,932,026 $ 66,932,026 4. Investor Monthly Fees Fixed Servicing Fees $ 4,054,583 $ 4,054,583 Others $ 41,250 $ 41,250 5. Surplus Finance Charge Collections $ 81,532,365 $ 81,532,365 6. Required Surplus Finance Charge Collections$ 0 $ 0 7. Aggregate Surplus Finance Charge Amount minus Required Surplus Finance Charge Amount $ 81,532,365 $ 81,532,365 Page 6 CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION ============================================================================== CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I For the Due Period Ending March 27, 2001 ============================================================================== D. Information Regarding Notes of Citiseries ----------------------------------------- (Aggregate Basis) 1a. Class A Outstanding Dollar Principal Amount ...........$17,000,000,000 For all Class A notes except Class 2001-A3 (Dakota)....$ 9,000,000,000 For Class 2001-A3 (Dakota).............................$ 8,000,000,000 1b. Class B Outstanding Dollar Principal Amount ...........$ 850,000,000 1c. Class C Outstanding Dollar Principal Amount ...........$ 1,300,000,000 2a. Targeted Deposit to Class A Interest Funding Account ..$ 54,684,874 2b. Targeted Deposit to Class B Interest Funding Account$ 4,415,249 2c. Targeted Deposit to Class C Interest Funding Account ..$ 7,831,902 3a. Balance in the Class A Interest Funding Account ......$ 147,330,293 3b Balance in the Class B Interest Funding Account ......$ 8,887,008 3c Balance in the Class C Interest Funding Account ......$ 14,623,396 4a. Targeted Deposit to Class A Principal Funding Account $ 0 4b. Targeted Deposit to Class B Principal Funding Account $ 0 4c. Targeted Deposit to Class C Principal Funding Account $ 0 5a. Balance in the Class A Principal Funding Account ...$ 0 5b. Balance in the Class B Principal Funding Account ...$ 0 5c. Balance in the Class C Principal Funding Account ...$ 0 6. Targeted Deposit to Class C Reserve Account .........$ 0 7. Balance in the Class C Reserve Account ............$ 0 Data Applicable to all Classes Except 2001-A3 (Dakota) ------------------------------------------------------ 8a. Maximum enhancement amount available to Outstanding Class A Notes from Class B Notes ........$ 538,461,900 8b. As a Percentage of Class A Outstanding Dollar Principal Amount ........................... 5.98291% 8c. Maximum enhancement amount available to Outstanding Class A Notes from Class C Notes ........$ 717,948,900 8d. As a Percentage of Class A Outstanding Dollar Principal Amount ........................... 7.97721% 8e. Maximum enhancement amount available to Outstanding Class B Notes from Class C Notes ........$ 1,133,333,305 8f. As a Percentage of Class B Outstanding Dollar Principal Amount ........................... 133.33333% Data Applicable to Class 2001-A3 (Dakota) ----------------------------------------- 9a. Maximum enhancement amount available to Outstanding Class 2001-A3 Notes (Dakota) from Class C Notes........$ 556,149,600 9b. As a Percentage of Class 2001-A3 Notes (Dakota) Outstanding Dollar Principal Amount .................... 6.95187% 9c. Maximum enhancement amount available to Outstanding Class 2001-A3 Notes (Dakota) from Class B Notes........$ 0 9d. As a Percentage of Class 2001-A3 Notes (Dakota) Outstanding Dollar Principal Amount .................... 0% Page 7 CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION ============================================================================== CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I For the Due Period Ending March 27, 2001 ============================================================================== Data Applicable to all Classes ------------------------------ 10a. Reduction in the Class A Nominal Liquidation Amount resulting from an allocation of Investor Charge-Offs ..........................$ 0 10b. Reduction in the Class B Nominal Liquidation Amount resulting from an allocation of Investor Charge-Offs or a reallocation of Principal Collections to pay interest on Class A Notes ........$ 0 10c. Reduction in the Class C Nominal Liquidation Amount resulting from an allocation of Investor Charge-Offs or a reallocation of Principal Collections to pay interest on Class A or Class B Notes ..........................$ 0 11a. Reimbursement of Class A Nominal Liquidation Amount ...$ 0 11b. Reimbursement of Class B Nominal Liquidation Amount ...$ 0 11c. Reimbursement of Class C Nominal Liquidation Amount ...$ 0 E. Information Regarding Distributions to Noteholders of Citiseries ---------------------------------------------------------------- (Aggregate Basis) 1a. The total amount of the distribution to Class A Noteholders on the applicable Payment Dates .................$ 62,780,388 1b. The total amount of the distribution to Class B Noteholders on the applicable Payment Dates .................$ 7,169,068 1c. The total amount of the distribution to Class C Noteholders on the applicable Payment Dates .................$ 10,898,396 2a. The amount of the distribution set forth in item 1(a) above in respect of principal on the Class A Notes ....$ 0 2b. The amount of the distribution set forth in item 1(b) above in respect of principal on the Class B Notes ....$ 0 2c. The amount of the distribution set forth in item 1(c) above in respect of principal on the Class C Notes ....$ 0 3a. The amount of the distribution set forth in item 1(a) above in respect of interest on the Class A Notes ......$ 62,780,388 3b. The amount of the distribution set forth in item 1(b) above in respect of interest on the Class B Notes ......$ 7,169,068 3c. The amount of the distribution set forth in item 1(c) above in respect of interest on the Class C Notes ......$ 10,898,396 4a. The amount, if any, by which the Adjusted Outstanding Dollar Principal Amount of the Class A Notes exceeds the Class A Nominal Liquidation Amount as of the Record Date with respect to the applicable Payment Dates .....$ 0 4b. The amount, if any, by which the Adjusted Outstanding Dollar Principal Amount of the Class B Notes exceeds the Class B Nominal Liquidation Amount as of the Record Date with respect to the applicable Payment Dates .....$ 0 4c. The amount, if any, by which the Adjusted Outstanding Dollar Principal Amount of the Class C Notes exceeds the Class C Nominal Liquidation Amount as of the Record Date with respect to the applicable Payment Dates .....$ 0 Page 8 CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION ============================================================================== CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I For the Due Period Ending March 27, 2001 ============================================================================== F. Information Regarding Notes of Citiseries2 --------------------------------------------------------- (Individual Tranche Basis) 1. Outstanding Dollar Principal Amount; Interest Payments and Deposits to Interest Funding Sub-Accounts
------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- Class/ Outstanding Monthly Targeted Actual Cumulative Interest Interest Tranche Dollar Accretion Interest Interest Shortfall in Funding Payment On Principal Monthly Monthly Interest Sub-Account Payment Date Amount Deposit Deposit Funding Balance Sub-Account ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-A1 1,500,000,000 0 7,148,866 7,148,866 0 0 52,865,556 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-A2 3,000,000,000 0 15,015,000 15,015,000 0 27,755,000 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-A3 1,000,000,000 0 4,806,800 4,806,800 0 23,893,030 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-B1 350,000,000 0 1,717,940 1,717,940 0 1,717,940 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-B2 150,000,000 0 790,500 790,500 0 0 2,223,281 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-C1 600,000,000 0 3,725,000 3,725,000 0 3,725,000 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2000-C2 200,000,000 0 1,125,111 1,125,111 0 3,164,375 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2001-B1 350,000,000 0 1,906,809 1,906,809 0 0 4,945,787 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2001-C1 500,000,000 0 2,981,791 2,981,791 0 0 7,734,021 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2001-A1 1,250,000,000 0 6,393,750 6,393,750 0 11,818,750 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2001-A2 2,250,000,000 0 11,405,625 11,405,625 0 21,083,125 0 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- ------------ ---------------- ------------- ------------- ------------- -------------- ------------- -------------- 2001-A3 8,000,000,000 0 9,914,832 9,914,832 0 0 9,914,832 ------------ ---------------- ------------- ------------- ------------- -------------- ------------- --------------
2. Principal Payments and Deposits to Principal Funding Sub-Accounts
------------------------ ----------------- ----------------- ----------------- ----------------- ------------------ Class/Tranche Targeted Actual Cumulative Principal Principal Payment Principal Principal Shortfall in Funding On Payment Date Monthly Deposit Monthly Deposit Principal Sub-Account Funding Balance Sub-Account ----------------- ----------------- ----------------- ------------------ ------------------------ ----------------- ----------------- ----------------- ----------------- ------------------ ------------------------ ----------------- ----------------- ----------------- ----------------- ------------------ ------------------------ ----------------- ----------------- ----------------- ----------------- ------------------ Nothing to Report For This Period ------------------------ ----------------- ----------------- ----------------- ----------------- ------------------
3. Deposits to and Withdrawals from Class C Reserve Sub-Accounts
------------------------ ---------------- ------------------ ------------------ ----------------- ----------------- Class/Tranche Targeted Actual Deposit Cumulative Withdrawals from Class C Deposit to to Class C Shortfall in Class C Reserve Class C Reserve Class C Reserve Sub-Account Reserve Sub-Account Reserve Sub-Account Balance Sub-Account Sub-Account ------------------ ------------------ ----------------- ----------------- ------------------------ ---------------- ------------------ ------------------ ----------------- ----------------- ------------------------ ---------------- ------------------ ------------------ ----------------- ----------------- ----------------------------------------- ------------------ ------------------ ----------------- ----------------- Nothing to Report for This Period ----------------------------------------- ------------------ ------------------ ----------------- -----------------
Page 9 CITIBANK (SOUTH DAKOTA), N.A. CITIBANK (NEVADA), NATIONAL ASSOCIATION ============================================================================== CITIBANK CREDIT CARD ISSUANCE TRUST / CITIBANK CREDIT CARD MASTER TRUST I For the Due Period Ending March 27, 2001 ============================================================================== 4. Maximum Enhancement Amount Available to Class A Notes; Class A Usage of Class B and Class C Subordinated Amounts
------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- Class/ Maximum Maximum Class A Usage Class A Usage Cumulative Cumulative Tranche Enhancement Enhancement of Class B of Class C Class A Usage Class A Usage Amount Amount Subordinated Subordinated of Class B of Class C Available Available Amount for Amount for Subordinated Subordinated from Class B from Class C this Due Period this Due Period Amount Amount Notes Notes ----------------- ----------------- --------------- ---------------- ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- 2000-A1 89,743,650 119,658,150 ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- 2000-A2 179,487,300 239,316,300 ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- 2000-A3 59,829,100 79,772,100 ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- 2001-A1 74,786,375 99,715,125 ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- 2001-A2 134,615,475 179,487,225 ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- ------------ --------------- --------------- ----------------- ----------------- --------------- ---------------- 2001-A3 0 556,149,600 ------------ --------------- --------------- ----------------- ----------------- --------------- ----------------
5. Maximum Enhancement Amount Available to Class B Notes; Class B Usage of Class C Subordinated Amount
--------------------------------- -------------------------- --------------------------- ---------------------- Class/Tranche Maximum Enhancement Class B Usage of Class C Cumulative Class B Amount Available from Subordinated Amount for Usage of Class C Class C Notes this Due Period Subordinated Amount --------------------------- ---------------------- --------------------------------- -------------------------- --------------------------- ---------------------- 2000-B1 466,666,655 -------------------------- --------------------------- ---------------------- --------------------------------- -------------------------- --------------------------- ---------------------- 2000-B2 199,999,995 --------------------------------- -------------------------- --------------------------- ---------------------- --------------------------------- -------------------------- --------------------------- ---------------------- 2001-B1 466,666,655 --------------------------------- -------------------------- --------------------------- ----------------------
6. Reductions of and Reimbursements to Nominal Liquidation Amount
-------------- --------------- -------------------- ------------------- -------------------- ------------------ Class/ Tranche Reduction Reduction Cumulative Cumulative Reimbursement of Resulting Resulting from a Reduction Reduction Resulting prior reductions from an Reallocation of Resulting from an from a Reallocation of Nominal Allocation Principal Allocation of of Principal Liquidation of Investor Collections to Investor Collections to pay Amount for this Charge-offs pay interest on Charge-offs (net interest on senior Due Period for this Due senior classes of of Reimbursements) classes of Notes Period Notes for this (net of Due Period Reimbursements) -------------- --------------- -------------------- ------------------- -------------------- ------------------ ------------------------------ -------------------- ------------------- -------------------- ------------------ Nothing to Report for This Period ------------------------------ -------------------- ------------------- -------------------- ------------------
Page 10 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Report this __6th__ day of April 2001. CITIBANK (SOUTH DAKOTA), N.A., As Managing Beneficiary of Citibank Credit Card Issuance Trust and As Servicer of Citibank Credit Card Master Trust I By: /s/ Susan Sexton __________________________________________ Name: Susan Sexton Title: Authorized Representative Page 11 -------- 1 Values for Current Due Period on an Actual Basis reflect, in the case of a first due period close of a tranche of Notes, activity from the series cut-off or close dates until the first due period end, or, as in the case of Investor Monthly Interest and certain fees, until the first Monthly Interest Date. Values for Current Due Period on a Standard Basis reflect activity for the entire current due period, as if all Notes had already been outstanding prior to the first day of such due period. All percents are based on actual cash revenue or expense for the period, converted to an annualized percent using day counts appropriate for the item, either 30/360, actual/360, or actual/actual. Depending on the item, cash expenses may accrue from February 24, 2001 to March 27, 2001, 32 days, or March 6, 2001 to April 5, 2001, 31 days (standard basis). 2 The information reported is for the Due Period ending March 27, 2001 and giving effect to all Deposits, allocations, reallocations and payments to be made in the month after the end of this Due Period. -----END PRIVACY-ENHANCED MESSAGE-----