EX-99.2 3 d684737dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

CHASE ISSUANCE TRUST

Asset Pool One Monthly Servicer’s Certificate

Monthly Period: December 2018

 

1.

Capitalized terms used in this certificate have their respective meanings set forth in the Fourth Amended and Restated Indenture, dated as of January 20, 2016 (as amended, supplemented or otherwise modified, the “Indenture”), and the Third Amended and Restated Asset Pool One Supplement, dated as of January 20, 2016 (as amended, supplemented or otherwise modified, the “Asset Pool One Supplement”), each between the Chase Issuance Trust and Wells Fargo Bank, National Association, as Indenture Trustee and Collateral Agent.

 

2.

As of the date hereof, Chase Bank USA, National Association is the Servicer and Administrator under the Transfer and Servicing Agreement and Chase Card Funding LLC is the Transferor.

 

3.

The undersigned is a Responsible Officer of Servicer.

 

4.

Collateral of Asset Pool One

 

         Beginning Balance              Ending Balance          

Principal Receivables

      29,373,790,444.38        29,938,450,363.08  

Excess Funding Amount

      0.00        0.00  
  

 

 

     

 

 

  

TOTAL

      29,373,790,444.38        29,938,450,363.08  
  

 

 

     

 

 

  

 

5a.    The Nominal Liquidation Amount of all Asset Pool One Notes as of the last day of the related Monthly Period     
  

CHASEseries

        16,450,000,000.00  
       

 

 

  
  

TOTAL

        16,450,000,000.00  
       
5b.    Asset Pool One Transferor Amount for the related Monthly Period        13,488,450,363.08  
5c.    Asset Pool One Required Transferor Amount for the related Monthly Period        1,496,922,518.15  
5d.    Asset Pool One Pool Balance for the related Monthly Period        29,938,450,363.08  
5e.    Asset Pool One Minimum Pool Balance for the related Monthly Period        16,450,000,000.00  
6a.    The aggregate amount of Collections of Principal Receivables received by Asset Pool One for the related Monthly Period        10,122,812,088.31  
6b.    The aggregate amount of Collections of Principal Receivables allocated pursuant to Section 3.3 of the Asset Pool One Supplement for the related Monthly Period     
  

CHASEseries

      56.00 %      5,669,008,198.58  
     

 

 

    

 

 

  
  

TOTAL

      56.00 %      5,669,008,198.58  
7a.    The aggregate amount of Collections of Finance Charge Receivables received by Asset Pool One for the related Monthly Period        496,032,842.70  
   Collections of Discount Receivables included in 7a above        0.00  
7b.    The aggregate amount of Collections of Finance Charge Receivables allocated pursuant to subsection 3.2(a) of the Asset Pool One Supplement for the related Monthly Period     
  

CHASEseries

      56.00 %      277,789,830.29  
     

 

 

    

 

 

  
  

TOTAL

      56.00 %      277,789,830.29  
8a.    The Asset Pool One Servicing Fee for the related Monthly Period        36,717,238.06  
8b.    The Asset Pool One Servicing Fee allocated to each Series pursuant to subsection 3.4(b) of the Asset Pool One Supplement for the related Monthly Period     
  

CHASEseries

      56.00 %      20,562,500.00  
     

 

 

    

 

 

  
  

TOTAL

      56.00 %      20,562,500.00  

9a.    The Asset Pool One Default Amount for the related Monthly Period         57,524,055.01  
9b.    The Asset Pool One Default Amount allocated to each Series pursuant to subsection 3.2(b) of the Asset Pool One Supplement for the related Monthly Period      
  

CHASEseries

      56.00%        32,214,797.29  
     

 

 

     

 

 

  
  

TOTAL

      56.00%        32,214,797.29  

 

10.

Delinquencies as of the last day of the related Monthly Period

 

               Number
        of Accounts        		     

Amount of

        Receivables (1)        

    Percentage of
        Receivables        		  
  

  Pool Balance

         14,306,701      30,475,162,893.17      100.00%  
  

  Number of Days Delinquent

            
  

  30-59 days

         17,688      105,703,189.20      0.35%  
  

  60-89 days

         10,695      76,251,695.75      0.25%  
  

  90-119 days

         8,692      67,236,133.78      0.22%  
  

  120-149 days

         6,894      55,174,334.22      0.18%  
  

  150-179 days

         6,257      52,812,595.72      0.17%  
  

  180 or more days

         79      470,525.39      0.00%  
  

    TOTAL

         50,305      357,648,474.06      1.17%  

 

11.

    Losses and Recoveries for the related Monthly Period   
   Average Pool Balance (2)              29,373,790,444.38  
   Gross Losses (3)      63,387,634.40  
   Gross Losses as a Percentage of Average Pool Balance      2.59%  
   Recoveries (4)      5,863,579.39  
   Net Losses (5)      57,524,055.01  
   Net Losses as a Percentage of Average Pool Balance      2.35%  
   Number of Accounts Charged Off During the Monthly Period      9,840  
   Average Net Loss Amount on Accounts Charged Off during the Monthly Period      5,845.94  

12.

    Change in Sponsor’s or affiliate’s interest in securities for the related Monthly Period   

 

    

As of Last Day of Previous Monthly Period

      As of Last Day of Monthly Period  
CHASEseries Notes Held by the Sponsor or an Affiliate (6)    Tranche    Amount      Tranche     Amount  
   Class B (2013-01)      750,000,000.00        Class B  (2013-01)      0.00  
   Class B (2015-01)      750,000,000.00        Class B  (2015-01)      750,000,000.00  
   Class B (2017-01)      750,000,000.00        Class B  (2017-01)      750,000,000.00  
   Class C (2013-01)      750,000,000.00        Class C  (2013-01)      0.00  
   Class C (2015-01)      750,000,000.00        Class C  (2015-01)      750,000,000.00  
   Class C (2017-01)      750,000,000.00        Class C  (2017-01)      750,000,000.00  
     

 

 

       

 

 

  
        4,500,000,000.00          3,000,000,000.00  

 

13.

    Credit Risk Retention                        

 

              As of Last Day of Monthly Period      
  

Seller’s Interest

      13,488,450,363.08  
  

Seller’s Interest (%) (7)

      82.00%  

(1)

The amount of receivables reflected includes all principal, finance charge and fee amounts due from cardholders as of the date specified.

 

(2)

Average Pool Balance means “Asset Pool One Average Principal Balance” as defined in the Asset Pool One Supplement.

 

(3)

Gross Losses are charge-offs of principal receivables. Gross Losses do not include the amount of any reductions in principal receivables due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount.

 

(4)

Recoveries are amounts received on previously charged-off receivables during the related Monthly Period, and allocated to the issuing entity pro rata, based on the amount of gross losses in the issuing entity as a percentage of gross losses in the Servicer’s managed portfolio of credit card receivables for the related Monthly Period.

 

(5)

Net Losses are Gross Losses minus Recoveries. Net Losses do not include any reductions in principal receivables due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount.

 

(6)

The securities listed here are not being relied upon to satisfy the U.S. Risk Retention Requirements (79 FR 77601).

 

(7)

The Seller’s Interest percentage is calculated by dividing the Seller’s Interest, which is equal to the Asset Pool One Transferor Amount, by the aggregate unpaid principal balance of all outstanding investor asset-backed interests in the Issuing Entity. The required risk retention percentage is 5%.

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate on this date January 11, 2019.

 

CHASE BANK USA, NATIONAL ASSOCIATION, as Servicer

By:    /s/ Patricia Garvey

 

         Patricia Garvey
          Executive Director