EX-20.21 23 a04-3262_1ex20d21.htm EX-20.21

Exhibit 20.21

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 96-3

COMT 98-1

Deal Size

 

$500MM

$591MM

Expected Maturity(Class A):

 

1/15/2004

4/15/2008

 

 

 

 

Portfolio Yield***

 

19.86%

19.35%

LESS:

(Wt Avg Coupon **)

 

1.24%

6.01%

 

SVC Fees **

 

1.21%

1.50%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

13.01%

7.44%

 

Jan-04

14.05%

6.94%

 

Dec-03

12.16%

7.42%

3-Mo Avg Excess Spread

 

13.07%

7.27%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 99-1

COMT 99-3

Deal Size

 

$625MM

$500MM

Expected Maturity(Class A):

 

05/15/2004

7/17/2006

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

2.09%

2.26%

 

SVC Fees **

 

1.50%

1.50%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

11.36%

11.19%

 

Jan-04

11.42%

11.25%

 

Dec-03

11.68%

11.52%

3-Mo Avg Excess Spread

 

11.49%

11.32%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

Page 47 of 52

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 00-2

COMT 00-3

Deal Size

 

$750MM

$1000MM

Expected Maturity(Class A):

 

06/15/2005

08/15/2007

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

7.26%

2.28%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

5.68%

10.66%

 

Jan-04

5.21%

10.75%

 

Dec-03

5.69%

11.01%

3-Mo Avg Excess Spread

 

5.53%

10.80%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 00-4

COMT 01-1

Deal Size

 

$1200MM

$1200MM

Expected Maturity(Class A):

 

10/17/2005

2/15/2008

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

5.78%

1.63%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

7.17%

11.31%

 

Jan-04

6.63%

11.24%

 

Dec-03

7.12%

11.54%

3-Mo Avg Excess Spread

 

6.97%

11.36%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

Page 48 of 52

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 01-2

COMT 01-3

Deal Size

 

$1200MM

$750MM

Expected Maturity(Class A):

 

3/15/2006

5/15/2006

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

4.83%

4.87%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

8.11%

8.08%

 

Jan-04

7.57%

7.55%

 

Dec-03

8.06%

8.04%

3-Mo Avg Excess Spread

 

7.92%

7.89%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 01-4

COMT 01-5

Deal Size

 

$1000MM

$1000MM

Expected Maturity(Class A):

 

6/15/2004

8/15/2006

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

1.61%

4.74%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

11.34%

8.21%

 

Jan-04

11.27%

7.68%

 

Dec-03

11.62%

8.17%

3-Mo Avg Excess Spread

 

11.41%

8.02%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

Page 49 of 52

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 01-6

COMT 01-7

Deal Size

 

$1300MM

$1000MM

Expected Maturity(Class A):

 

8/15/2008

10/15/2004

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

2.08%

3.52%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

10.87%

9.43%

 

Jan-04

10.91%

8.90%

 

Dec-03

11.19%

9.39%

3-Mo Avg Excess Spread

 

10.99%

9.24%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 01-8

COMT 02-1

Deal Size

 

$1000MM

$985MM

Expected Maturity(Class A):

 

10/16/2006

1/15/2009

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

4.17%

1.66%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

8.78%

11.28%

 

Jan-04

8.25%

11.21%

 

Dec-03

8.74%

11.51%

3-Mo Avg Excess Spread

 

8.59%

11.34%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

Page 50 of 52

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 02-2

COMT 02-3

Deal Size

 

$620MM

$1350MM

Expected Maturity(Class A):

 

3/15/2007

4/15/2005

 

 

 

 

Portfolio Yield

 

19.35%

19.35%

LESS:

(Wt Avg Coupon **)

 

1.59%

1.90%

 

SVC Fees **

 

2.00%

2.00%

 

Net Charge-Offs

 

4.40%

4.40%

 

 

 

 

Excess Spread:

Feb-04

11.35%

11.05%

 

Jan-04

11.28%

11.07%

 

Dec-03

11.58%

11.35%

3-Mo Avg Excess Spread

 

11.40%

11.16%

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

1.41%

 

60 to 89 days

 

0.99%

0.99%

 

90+ days

 

2.26%

2.26%

Gross Monthly Payment Rate

 

15.22%

15.22%

 

 

>CAPITAL ONE MASTER TRUST

 

 

 

 

>Trust Excess Spread Analysis

 

 

 

 

>Feb-04

 

 

 

Card Trust

 

COMT 02-4

 

Deal Size

 

$750MM

 

Expected Maturity(Class A):

 

5/15/2007

 

 

 

 

 

Portfolio Yield

 

19.35%

 

LESS:

(Wt Avg Coupon **)

 

4.44%

 

 

SVC Fees **

 

2.00%

 

 

Net Charge-Offs

 

4.40%

 

 

 

 

 

Excess Spread:

Feb-04

8.51%

 

 

Jan-04

7.97%

 

 

Dec-03

8.46%

 

3-Mo Avg Excess Spread

 

8.31%

 

 

 

 

 

Delinquents:

30 to 59 days

 

1.41%

 

 

60 to 89 days

 

0.99%

 

 

90+ days

 

2.26%

 

Gross Monthly Payment Rate

 

15.22%

 

 

Page 51 of 52

 

 

>CAPITAL ONE MASTER TRUST

 

(*) This material is for informational purposes only and is not an offer of securities for sale in the United States.  These securities

will not be and have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements.

 

 

(**) Weighted Average Coupon & Servicing Fee for COMT 96-3 in Jan 04 Distribution Period are impacted by the scheduled principal reductions of $400,000,000 to Class A and $30,000,000 to Class C  that occurred on 01/15/04. Actual distributions are based on distribution period invested amount and End of Month invested amount, respectively, and the Base Rate calculation ((Weighted Ave Coupon + Servicing Fee + Servicer Interchange )/BOM Invested Amount), as set forth in the governing documents, uses actual distributions as a percentage of Beginning of Month invested amount.

 

(***) Portfolio Yield for COMT 96-3 in Feb 04 Distribution Period is impacted by the addition of Reserve Draw Amount and Principal Funding Account Investment earnings.

 

 

 

Page 52 of 52