-----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, Ka/1Yo7JadCNw/oJInlgUcSSNks1A/NXLqZgkter3/fOrDukENF0kbtOGjvwLx7U BcSYAJ/+vWOBhzY5HkaVYw== 0000882135-96-000006.txt : 19960405 0000882135-96-000006.hdr.sgml : 19960405 ACCESSION NUMBER: 0000882135-96-000006 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951231 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960322 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORD CREDIT AUTO LOAN MASTER TRUST CENTRAL INDEX KEY: 0000882135 STANDARD INDUSTRIAL CLASSIFICATION: 6189 IRS NUMBER: 136988339 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21686 FILM NUMBER: 96537261 BUSINESS ADDRESS: STREET 1: THE AMERICAN ROAD CITY: DEARBORN STATE: MI ZIP: 48121 BUSINESS PHONE: 3133223000 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______ FORM 10-K (Mark One) XX ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES - - --- EXCHANGE ACT OF 1934 (FEE REQUIRED) For the fiscal year ended December 31, 1995 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE - - --- SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from to . Commission file numbers 0-21686 FORD CREDIT AUTO LOAN MASTER TRUST SERIES 1992-1, 1992-2, 1994-1, AND 1995-1 (Ford Credit Auto Receivables Corporation - Originator) ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 38-2973806 - - ------------------------ ---------------------------- (State of Incorporation) (Employer Identification No.) The American Road, Dearborn, Michigan 48121 - - ---------------------------------------- ---------- (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code (313) 322-3000 Securities registered pursuant to Section 12(b) of the Act: NONE Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(c) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. XX Yes. No. ----- ----- PART I. ITEM 1. Business The Ford Credit Auto Loan Master Trust (the "Trust") was created on February 5, 1992 pursuant to the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of December 31, 1991 among Ford Motor Credit Company ("Ford Credit"), as servicer, Ford Credit Auto Receivables Corporation (the "Company"), as seller, and Chemical Bank (the "Trustee"), as trustee. Pursuant to the Pooling and Servicing Agreement, the Company transferred to the trust property primarily consisting of wholesale receivables generated from time to time in a portfolio of revolving financing arrangements with automobile dealers to finance their automobile and light truck inventory, collections as to the receivables, security interests in the vehicles financed thereby and certain other property. Such property was obtained by the Company pursuant to the Receivables Purchase Agreement dated as of December 31, 1991 between the Company, as purchaser, and Ford Credit, as servicer. The Company has registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended, and sold to the general public the Series 1992-1, 6 7/8% Auto Loan Asset Backed Certificates (the "Series 1992-1 Certificates") in the initial principal amount of $1,000,000,000, the Series 1992-2, 7 3/8% Auto Loan Asset Backed Certificates (the "Series 1992-2 Certificates") in the initial principal amount of $700,000,000, the Series 1994-1, Floating Rate Auto Loan Asset Backed Certificates (the "1994-1 Certificates") in the initial principal amount of $1,000,000,000 and the Series 1995-1, 6.50% Auto Loan Asset Backed Certificates (the "1995-1 Certificates") in the initial principal amount of $1,000,000,000. The Series 1992-1 Certificates, Series 1992-2 Certificates, Series 1994-1 Certificates and the 1995-1 Certificates were created pursuant to the Series 1992-1 Supplement dated as of December 31, 1991 to the Pooling and Servicing Agreement (the "1992-1 Supplement"), the Series 1992-2 Supplement dated as of March 31, 1992 to the Pooling and Servicing Agreement (the "1992-2 Supplement"), the Series 1994-1 Supplement dated as of June 30, 1994 to the Pooling and Servicing Agreement (the "1994-1 Supplement") and the Series 1995-1 Supplement dated as of June 30, 1995 to the Pooling and Servicing Agreement (the "1995-1 Supplement"), respectively. Each Series of Certificates represents an undivided interest in certain assets of the Trust. ITEM 2. PROPERTIES - - ------------------- For information regarding the property of the Trust, see the Pooling and Servicing Agreement, the 1992-1 Supplement, the 1992-2 Supplement, the 1994-1 Supplement, the 1995-1 Supplement and the prospectuses (Exhibits 19.13, 19.14, 19.15 and 19.16) relating to the Series 1992-1 Certificates, the Series 1992-2 Certificates, the 1994-1 Certificates and the 1995-1 Certificates and incorporated hereby by reference. For additional information regarding the Certificates contained in the Distribution Date Statements furnished to the Trustee on each Distribution Date during 1995, see the Current Reports on Form 8-K incorporated by reference herein (Exhibits 19.1 through 19.12). For additional information, regarding the Certificates, see Exhibit 99. ITEM 3. LEGAL PROCEEDINGS Nothing to report. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS Nothing to report. PART II. ITEM 5. MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS There were 60 Series 1992-1 Certificateholders, 70 Series 1992-2 Certificateholders, 27 Series 1994-1 Certificateholders and 79 Series 1995-1 Certificateholders at February 1, 1996. There is no established public trading market for any of the Certificates. ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. Nothing to report. PART III. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT (3)Amount and nature of (2) Name and Address beneficial (1)Title of of beneficial ownership (4)Percent Class owner* (in thousands) of Class --------- ---------------- -------------- -------- Series 1992-1, Bankers Trust Company $ 96,790 9.7% 6 7/8% Auto Loan Corporate Securities Asset Backed Services Certificates 16 Wall Street, Level D New York, NY 10005 Series 1992-1, Chemical Bank/MHT $ 83,580 8.4% 6 7/8% Auto Loan 55 Water Street, Room 510 Asset Backed New York, NY 10017 Certificates Series 1992-1, The Chase Manhattan $179,130 17.9% 6 7/8% Auto Loan Bank, N.A. Asset Backed 1 Chase Manhattan Plaza Certificates 3B - Proxy Dept. New York, NY 10081 Series 1992-1, Marine Treasury $ 75,300 7.5% 6 7/8% Auto Loan Investment Asset Backed 140 Broadway, Certificates Level A New York, NY 10015 Series 1992-1 Citibank, N.A. $ 67,460 6.7% 6 7/8% Auto Loan 111 Wall Street Asset Backed New York, NY 10043 Certificates Series 1992-1, SSB-Custodian $109,445 10.9% 6 7/8% Auto Loan c/o ADP Proxy Services Asset Backed 51 Mercedes Way Certificates Edgewood, NY 11717 Series 1992-1 First National Bank $ 99,925 10.0% 6 7/8% Auto Loan of Chicago Asset Backed c/o ADP Proxy Services Certificates 51 Mercedes Way New York, NY ITEM 12. (CONTINUED) (3)Amount and nature of (2) Name and Address beneficial (1)Title of of beneficial ownership (4)Percent Class owner* (in thousands) of Class --------- ---------------- -------------- -------- Series 1992-2 Bank of New York $ 57,700 8.2% 7 3/8% Auto Loan 925 Patterson Plank Rd. Asset Backed Secaucus, NJ 07094 Certificates Series 1992-2, Bankers Trust Company $ 99,075 14.1% 7 3/8% Auto Loan Corporate Securities Asset Backed Services Certificates 16 Wall Street, Level D New York, NY 10005 Series 1992-2, Boston Safe Deposit & $ 47,100 6.7% 7 3/8% Auto Loan Trust Co. Asset Backed c/o ADP Proxy Services Certificates 51 Mercedes Way Edgewood, NY 11717 Series 1992-2, The Chase Manhattan $143,525 20.5% 7 3/8% Auto Loan Bank, N.A. Asset Backed 1 Chase Manhattan Plaza Certificates 3B - Proxy Dept. New York, NY 10081 Series 1992-2 Citibank, N.A. $ 51,800 7.4% 7 3/8% Auto Loan 111 Wall Street Asset Backed 20th Floor, Zone 9 Certificates New York, NY 10043 Series 1992-2 SSB-Custodian $ 50,815 7.2% 7 3/8% Auto Loan c/o ADP Proxy Services Asset Backed 51 Mercedes Way Certificates Edgewood, NY 11717 ITEM 12. (CONTINUED) (3)Amount and nature of (2) Name and Address beneficial (1)Title of of beneficial ownership (4)Percent Class owner* (in thousands) of Class --------- ---------------- -------------- -------- Series 1994-1 Boston Safe Deposit $ 55,335 5.5% Floating Rate & Trust Co. Auto Loan c/o ADP Proxy Services Asset Backed 51 Mercedes Way Certificates Edgewood, NY 11717 Series 1994-1 Chase Manhattan Bank $ 64,590 6.5% Floating Rate 1 Chase Manhattan Plaza Auto Loan 3B-Proxy Dept. Asset Backed New York, NY 10081 Certificates Series 1994-1 Citibank, N.A. $278,700 27.9% Floating Rate 111 Wall Street Auto Loan 20th Floor, Zone 9 Asset Backed New York, NY 10043 Certificates Series 1994-1 PNC National $255,100 25.5% Floating Rate Association Auto Loan c/o ADP Proxy Services Asset Backed 51 Mercedes Way Certificates Edgewood, NY 11717 Series 1994-1 SSB-Custodian $140,100 14.0% Floating Rate c/o ADP Proxy Services Auto Loan 51 Mercedes Way Asset Backed Edgewood, NY 11717 Certificates Series 1995-1 Bank of New York $118,671 11.9% 6.50% Auto Loan 925 Patterson Plank Rd. Asset Backed Secaucus, NJ 07094 Certificates Series 1995-1 Chase Manhattan Bank, $135,062 13.5% 6.50% Auto Loan N.A.(The) Asset Backed 3B-Proxy Dept. Certificates New York, NY 10081 Series 1995-1 Morgan Guaranty Trust Co. $ 52,800 5.3% 6.50% Auto Loan 37 Wall Street, 16th FL Asset Backed New York, NY 10260 Certificates ITEM 12. (CONTINUED) (3)Amount and nature of (2) Name and Address beneficial (1)Title of of beneficial ownership (4)Percent Class owner* (in thousands) of Class --------- ---------------- -------------- -------- Series 1995-1 Northern Trust Co. $ 52,115 5.2% 6.50% Auto Loan -Trust Asset Backed c/o ADP Proxy Services Certificates 51 Mercedes Way Edgewood, NY 11717 Series 1995-1 SSB-Custodian $159,018 15.9% 6.50% Auto Loan c/o ADP Proxy Services Asset Backed 51 Mercedes Way Certificates Edgewood, NY 11717 * As of February 1, 1996 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS Nothing to report. PART IV. ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K (a)3. Exhibits Designation Description Method of Filing - - ----------- ----------- ---------------- Exhibit 3.1 Restated Certificate of Filed as Exhibit 3.1 to Incorporation of Ford Ford Credit Auto Credit Auto Receivables Receivables Corporation's Corporation. Registration Statement on Form S-1 (No. 33-44432) and incorporated herein by reference. Exhibit 3.2 By-Laws of Ford Credit Filed as Exhibit 3.2 to Auto Receivables Ford Credit Auto Corporation. Receivables Corporation's Registration Statement on Form S-1 (No. 33-44432) and incorporated herein by reference. Exhibit 4.1 Conformed copy of Pooling Filed as Exhibit 4.1 to and Servicing Agreement Ford Credit Auto dated as of December 31, Receivables Corporation's 1991 among Ford Credit Registration Statement on Auto Receivables Form S-1 (No. 33-47582) Corporation, as seller, and incorporated herein Ford Motor Credit Company by reference. as servicer, and Chemical Bank, as trustee. Exhibit 4.2 Conformed copy of Series Filed as Exhibit 4.2 to 1992-1 Supplement dated Ford Credit Auto Loan as of December 31, 1991 Master Trust Current to the Pooling and Report on Form 8-K dated Servicing Agreement February 7, 1992 and referenced in Exhibit and incorporated herein 4.1 above among Ford by reference. Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. ITEM 14. (Continued) Designation Description Method of Filing - - ----------- ----------- ----------------- Exhibit 4.3 Conformed copy of Series Filed as Exhibit 4.2 to 1992-2 Supplement dated Ford Credit Auto Loan as of March 31, 1993 to Master Trust Current Pooling and Servicing Report on Form 8-K dated Agreement referred to in May 15, 1992 and Exhibit 4.1 above among incorporated herein by Ford Credit Auto reference. Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 4.4 Form of Series Filed as Exhibit 4.2 to 1994-1 Supplement dated Registration Statement No. as of June 30, 1994 33-54673 on Form S-3 and to Pooling and Servicing incorporated herein by Agreement referred to in reference. Exhibit 4.1 above among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 4.5 Form of Series Filed as Exhibit 4.2 to 1995-1 Supplement dated Registration Statement as of June 30, 1995 No. 33-61033 on Form S-3 to Pooling and Servicing and incorporated herein by Agreement referred to in reference. Exhibit 4.1 above among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 19.1 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended January 31, 1995. Master Trust Current Report on Form 8-K dated February 8, 1995 and incorporated herein by reference. ITEM 14. (Continued) Designation Description Method of Filing - - ----------- ----------- ----------------- Exhibit 19.2 Distribution Date Statement Filed as Exhibit 19 to for Collection Period ended Ford Credit Auto Loan February 28, 1995. Master Trust Current Report on Form 8-K dated March 5, 1995 and incorporated herein by reference. Exhibit 19.3 Distribution Date Statement Filed as Exhibit 19 to for Collection Period ended Ford Credit Auto Loan March 31, 1995. Master Trust Current Report on Form 8-K dated April 4, 1995 and incorporated herein by reference. Exhibit 19.4 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended April 30, 1995. Master Trust Current Report on Form 8-K dated May 9, 1995 and incorporated herein by reference. Exhibit 19.5 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended May 31, 1995. Master Trust Current Report on Form 8-K dated June 2, 1995 and incorporated herein by reference. Exhibit 19.6 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended June 30, 1995. Master Trust Current Report on Form 8-K dated July 18, 1995 and incorporated herein by reference. Exhibit 19.7 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended July 31, 1995 Master Trust Current Report on Form 8-K dated August 9, 1995 and incorporated herein by reference. ITEM 14. (Continued) Designation Description Method of Filing - - ----------- ----------- ----------------- Exhibit 19.8 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended August 31, 1995. Master Trust Current Report on Form 8-K dated September 14, 1995 and incorporated herein by reference. Exhibit 19.9 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended September 30, 1995. Master Trust Current Report on Form 8-K dated October 16, 1995 and incorporated herein by reference. Exhibit 19.10 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended October 31, 1995. Master Trust Current Report on Form 8-K dated November 15, 1995 and incorporated herein by reference. Exhibit 19.11 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended November 30, 1995. Master Trust Current Report on Form 8-K dated December 11, 1995 and incorporated herein by reference. Exhibit 19.12 Distribution Date Statement Filed as Exhibit 19 to for Collection Period Ford Credit Auto Loan ended December 31, 1995. Master Trust Current Report on Form 8-K dated January 12, 1996 and incorporated herein by reference. Exhibit 19.13 Prospectus dated January Filed as Exhibit 28.1 30, 1992 relating to to Ford Credit Auto Series 1992-1 Master Trust Current Certificates. Report on Form 8-K dated February 7, 1992 and incorporated herein by reference. ITEM 14. (Continued) Designation Description Method of Filing - - ----------- ----------- ----------------- Exhibit 19.14 Prospectus dated May Filed as Exhibit 28.1 to 11, 1992 relating to Ford Credit Auto Loan Series 1992-2 Master Trust Current. Certificates. Report on Form 8-K dated May 15, 1992 and incorporated herein by reference. Exhibit 19.15 Prospectus dated July Filed with the Commission 26, 1994 relating to pursuant to Rule 424(b)(1) on Series 1994-1 July 27, 1994 and Certificates. incorporated herein by reference. Exhibit 19.16 Prospectus dated August 1, Filed with the Commission 1995 relating to Series pursuant to Rule 424(b)(1) 1995-1 Certificates on August 3, 1995 and incorporated herein by reference. Exhibit 99 Selected Information Filed with this report. relating to the Series 1992-1 Certificates, the the Series 1992-2 Certificates, the Series 1994-1 Certificates and the 1995-1 Certificates. (b) Reports on Form 8-K Date of Report Item October 16, 1995 Item 5 - Other Events November 15, 1995 Item 5 - Other Events December 11, 1995 Item 5 - Other Events January 12, 1996 Item 5 - Other Events SIGNATURES Pursuant to the requirements of Section 13 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. Ford Credit Auto Loan Master Trust (Registrant) March 22, 1996 By: /s/ Richard P. Conrad ------------------------ Richard P. Conrad (Assistant Secretary of Ford Credit Auto Receivables Corporation, originator of Trust) EXHIBIT INDEX Exhibit Number Description of Exhibit Page - - -------- ---------------------- ---- Exhibit 3.1 Restated Certificate of * Incorporation of Ford Credit Auto Receivables Corporation. Exhibit 3.2 By-Laws of Ford Credit Auto * Receivables Corporation. Exhibit 4.1 Conformed copy of Pooling and * Servicing Agreement dated as of December 31, 1991 among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 4.2 Conformed copy of Series * 1992-1 Supplement dated as of December 31, 1991 to the Pooling and Servicing Agreement referenced in Exhibit 4.1 above among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 4.3 Conformed copy of Series * 1992-2 Supplement dated as of March 31, 1993 to the Pooling and Servicing Agreement referred to in Exhibit 4.1 above among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 4.4 Form of Series 1994-1 * Supplement to the Pooling and Servicing Agreement referred to in Exhibit 4.1 above among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 4.5 Form of Series 1995-1 * Supplement to the Pooling and Servicing Agreement referred to in Exhibit 4.1 above among Ford Credit Auto Receivables Corporation, as seller, Ford Motor Credit Company, as servicer, and Chemical Bank, as trustee. Exhibit 19.1 Distribution Date Statement * for Collection Period ended January 31, 1995. Exhibit 19.2 Distribution Date Statement * for Collection Period ended February 28, 1994. Exhibit 19.3 Distribution Date Statement * for Collection Period ended March 31, 1995. Exhibit 19.4 Distribution Date Statement * for Collection Period ended April 30, 1995. Exhibit 19.5 Distribution Date Statement * for Collection Period ended May 31, 1995. Exhibit 19.6 Distribution Date Statement * for Collection Period ended June 30, 1995. Exhibit 19.7 Distribution Date Statement * for Collection Period ended July 31, 1995. Exhibit 19.8 Distribution Date Statement * for Collection Period ended August 31, 1995. Exhibit 19.9 Distribution Date Statement * for Collection Period ended September 30, 1995. Exhibit 19.10 Distribution Date Statement * for Collection Period ended October 31, 1995. Exhibit 19.11 Distribution Date Statement * for Collection Period ended November 30, 1995. Exhibit 19.12 Distribution Date Statement * for Collection Period ended December 31, 1995. Exhibit 19.13 Prospectus dated January 30, * 1992 relating to Series 1992-1 Certificates. Exhibit 19.14 Prospectus dated May 11, 1992 * relating to Series 1992-2 Certificates. Exhibit 19.15 Prospectus dated July 26, 1994 * relating to Series 1994-1 Certificates. Exhibit 19.16 Prospectus dated August 1, 1995 * relating to Series 1995-1 Certificates. Exhibit 99 Selected Information relating Filed with this Report. to the Series 1992-1 Certificates, the Series 1992-2 Certificates, the Series 1994-1 Certificates and the 1995-1 Certificates. __________________ * Previously Filed EX-99 2 Exhibit 99 Selected Information Relating to Series 1992-1 Certificates, Series 1992-2 Certificates, Series 1994-1 and Series 1995-1 Certificates from January 1, 1995 through December 31, 1995 ----------------------------------------
Series 1992-1 Series 1992-2 Series 1994-1 Series 1995-1 6 7/8% Auto 7 3/8% Auto Floating Rate 6.50% Auto Loan Asset Loan Asset Loan Asset Loan Asset Backed Backed Backed Backed Certificates Certificates Certificates Certificates ------------ ------------ ------------ ------------ Interest Paid $ 68,750,000.04 $ 51,624,999.96 $ 64,008,819.43 $ 26,010,416.67 Servicing Fee Paid $ 9,999,999.96 $ 6,999,999.96 $ 9,999,999.96 $ 4,166,666.65
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