FIRST NORTH AMERICAN NATIONAL BANK CIRCUIT CITY CREDIT CARD MASTER TRUST SERIES 2000-2 Pursuant to the Master Pooling and Servicing Agreement dated as of October 4,1994 (as amended or supplemented, the "Pooling and Servicing Agreement"), as...
FIRST NORTH AMERICAN NATIONAL BANK
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CIRCUIT CITY CREDIT CARD MASTER TRUST
SERIES 2000-2
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Pursuant to the Master Pooling and Servicing Agreement dated as of October
4,1994 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 2000-2 Supplement, dated as of November 29, 2000 (the
"Supplement" and, together with the Pooling and Servicing Agreement, the
"Agreement"), each between First North American National Bank, as Transferor and
Servicer, and Bankers Trust Company, as Trustee, the Servicer is required to
prepare certain information each month regarding distributions to
Certificateholders and the performance of the Trust. The information with
respect to the applicable Distribution Date and Due Period is set forth below:
Due Period Ending January 31, 2001
Determination Date February 7, 2001
Distribution Date February 15, 2001
-----
-----
Class A and Class B Accumulation Period ("Y" or "N")? N
-----
-----
Early Amortization Period ("Y" or "N")? N
-----
-----
Sharing Principal Collections with another Series ("Y" or "N")? N
-----
-----
MASTER TRUST INFORMATION
Receivables
1. The aggregate amount of Eligible Receivables as of the end of
the last day of the relevant Due Period $ 1,251,999,442.62
2. The aggregate amount of Principal Receivables as of the end
of the last day of the relevant Due Period $ 1,223,414,020.69
3. The aggregate amount of Finance Charge Receivables as of
the end of the last day of the relevant Due Period $ 28,585,421.93
4. The aggregate amount of Discount Option Receivables as of
------------------
------------------
the end of the last day of the relevant Due Period $ 0.00
------------------
------------------
5. The Transferor Amount as of the end of the last day of the
relevant Due Period $ 32,014,020.69
6. The minimum Transferor Amount as of the end of the last
day of the relevant Due Period $ 0.00
7. The Excess Funding Account Balance as of the end of the
last day of the relevant Due Period $ 0.00
8. The aggregate principal balance of Receivables determined to be
Receivables of Defaulted Accounts for the relevant Due Period $ 6,806,716.09
9. The aggregate amount of Recoveries for the relevant Due Period $ 1,825,372.70
10. The Default Amount for the relevant Due Period $ 4,981,343.39
Collections
11. The aggregate amount of Collections of Principal Receivables
for the relevant Due Period $ 131,829,799.91
12. The aggregate amount of Collections of Finance Charge
Receivables for the relevant Due Period $ 20,023,839.34
13. The aggregate amount of interest earnings (net of losses
and investment expenses) on the Excess Funding
Account for the relevant Due Period $ 0.00
14. The aggregate amount of Collections processed for the relevant
Due Period (sum of lines 9+11+12+13) $ 153,679,011.95
------------------
------------------
15. The average Discount Percentage for the relevant Due Period % 0.00%
------------------
------------------
Invested Amounts
16. The Series 1996-1 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 162,000,000.00
b. Class B $ 22,500,000.00
c. Collateral Indebtedness Interest $ 29,250,000.00
d. Class D $ 11,250,000.00
------------------
------------------
e. Total Invested Amount (sum of a - d) $ 225,000,000.00
17. The Series 1998-2 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 174,000,000.00
b. Class B $ 17,400,000.00
------------------
------------------
c. Total Invested Amount (sum of a - b) $ 191,400,000.00
18. The Series 2000-1 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 365,000,000.00
b. Class B $ 57,500,000.00
c. Collateralized Trust Obligation $ 47,500,000.00
d. Class D $ 30,000,000.00
------------------
------------------
e. Total Invested Amount (sum of a - d) $ 500,000,000.00
19. The Series 2000-2 Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 200,750,000.00
b. Class B $ 31,625,000.00
c. Collateralized Trust Obligation $ 26,125,000.00
d. Class D $ 16,500,000.00
------------------
------------------
e. Total Invested Amount (sum of a - d) $ 275,000,000.00
20. The aggregate Invested Amount across all series of Investor
Certificates outstanding as of the end of the last day of the
relevant Due Period $ 1,191,400,000.00
Investor Amounts
21. The Series 1996-1 Investor Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 162,000,000.00
b. Class B $ 22,500,000.00
c. Collateral Indebtedness Interest $ 29,250,000.00
d. Class D $ 11,250,000.00
------------------
------------------
e. Total Investor Amount (sum of a - d) $ 225,000,000.00
22. The Series 1998-2 Investor Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 174,000,000.00
b. Class B $ 17,400,000.00
------------------
------------------
c. Total Investor Amount (sum of a - b) $ 191,400,000.00
23. The Series 2000-1 Adjusted Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 365,000,000.00
b. Class B $ 57,500,000.00
c. Collateralized Trust Obligation $ 47,500,000.00
d. Class D $ 30,000,000.00
------------------
------------------
e. Total Adjusted Invested Amount (sum of a - d) $ 500,000,000.00
24. The Series 2000-2 Adjusted Invested Amounts as of the end of the last
day of the relevant Due Period
a. Class A $ 200,750,000.00
b. Class B $ 31,625,000.00
c. Collateralized Trust Obligation $ 26,125,000.00
d. Class D $ 16,500,000.00
------------------
------------------
e. Total Adjusted Invested Amount (sum of a - d) $ 275,000,000.00
25. The aggregate Investor Amount across all series of Investor
Certificates outstanding as of the end of the last day of the
relevant Due Period $ 1,191,400,000.00
Series 2000-2 Allocation Percentages
26. The Fixed Percentage with respect to the relevant
Due Period
a. Class A 0.00%
b. Class B 0.00%
c. Collateralized Trust Obligation 0.00%
d. Class D 0.00%
------------------
------------------
e. Series 2000-2 Total 0.00%
------------------
------------------
27. The Floating Percentage with respect to the relevant
Due Period
a. Class A 16.26%
b. Class B 2.56%
c. Collateralized Trust Obligation 2.12%
d. Class D 1.34%
------------------
------------------
e. Series 2000-2 Total 22.27%
------------------
------------------
Allocation of Collections
28. The Series 2000-2 allocation of Collections of Principal
Receivables for the relevant Due Period (line 28 times
line 11)
a. Class A $ 21,435,748.76
b. Class B $ 3,376,864.53
c. Collateralized Trust Obligation $ 2,789,583.74
d. Class D $ 1,761,842.36
------------------
------------------
e. Series 2000-2 Total $ 29,364,039.40
------------------
------------------
29. The Series 2000-2 allocation of Collections of Finance
Charge Receivables for the relevant Due Period (line 29
times line 12)
a. Class A $ 3,255,910.19
b. Class B $ 512,917.36
c. Collateralized Trust Obligation $ 423,714.34
d. Class D $ 267,609.06
------------------
------------------
e. Series 2000-2 Total $ 4,460,150.95
------------------
------------------
Portfolio Yield and Delinquencies
30. The Portfolio Yield for the relevant Due Period (including
Shared Excess Finance Charge Collections, if allocated)
with respect to Series 2000-2 % 14.62%
31. The 3-month average Portfolio Yield for the three most recent
Due Periods % 14.86%
32. The Base Rate for the relevant Due Period % 8.40%
33. The 3-month average Base Rate for the three most recent
Due Periods % 8.80%
34. Average Portfolio Yield less average Base Rate % 6.06%
35. The amount of Shared Excess Finance Charge Collections
allocable to Series 2000-2 with respect to any Finance Charge
Shortfall in such Series for the relevant Due Period $ 0.00
36. The aggregate outstanding balance of Receivables which were
delinquent as of the end of the relevant Due Period:
------------------
------------------
(a) Delinquent 31 to 60 days $ 22,857,492.28
------------------
------------------
(b) Delinquent 61 to 90 days $ 13,471,126.27
------------------
------------------
(c) Delinquent 91 days or more $ 26,254,813.98
------------------
------------------
Determination of Monthly Interest
37. Class A Monthly Interest:
a. Class A Monthly Interest $ 1,022,570.31
b. Funds allocated and available to pay Class A
Monthly Interest for relevant Due Period (4.3a) $ 3,255,910.19
c. Class A Interest Shortfall (a less b) $ 0.00
d. Class A Additional Interest $ 0.00
38. Class B Monthly Interest:
a. Class B Monthly Interest $ 177,429.43
b. Funds allocated and available to pay Class B
Monthly Interest for relevant Due Period (4.3b) $ 512,917.36
c. Class B Interest Shortfall (a less b) $ 0.00
d. Class B Additional Interest $ 0.00
39. CTO Monthly Interest and Class D Monthly Interest:
a. CTO/Class D Monthly Interest $ 267,560.68
b. Funds allocated and available to pay CTO/
Class D Monthly Interest for relevant Due Period $ 691,323.40
c. CTO/Class D Interest Shortfall (a less b) $ 0.00
d. CTO/Class D Additional Interest $ 0.00
Accumulation Period
40. Required Accumulation Factor Number 11.00
41. Accumulation Period Factor 1.00
42. Accumulation Period Length 11.00
43. Accumulation Period Commencement Date December 1, 2002
Determination of Monthly Principal
44. Class A Monthly Principal (pursuant to section 4.4a):
(X)a. Fixed Allocation Percentage of Principal Receivable
Collections + Shared - Reallocated Coll. Applied $ 0.00
(Y)a. Controlled Accumulation Amount $ 0.00
b. Deficit Controlled Accumulation Amount $ 0.00
c. Controlled Deposit Amount $ 0.00
(Z)a. Class A Adjusted Invested Amount as of beginning of Due Period $ 200,750,000.00
Class A Monthly Principal (the least of x,y,z) $ 0.00
45. Class B Monthly Principal (pursuant to section 4.4b)
(distributable only after principal funding acct balance= O/S prin bal of Class A Cert.)
(X)a. Fixed Allocation Percentage of Principal Receivable
Collections + Shared - Reallocated Collections
Applied - Class A Monthly Principal $ 0.00
(Y)a. Controlled Accumulation Amount $ 0.00
b. Deficit Controlled Accumulation Amount $ 0.00
c. Controlled Deposit Amount $ 0.00
(Z)a. Class B Adjusted Invested Amount as of beginning of Due Period $ 31,625,000.00
Class B Monthly Principal (the least of x,y,z) $ 0.00
46. CTO Monthly Principal (pursuant to section 4.4c)
(X)a. Available Principal Collections - Class A Monthly
Principal and Class B Monthly Principal $ 0.00
(Y)a. Controlled Accumulation Amount $ 0.00
b. Deficit Controlled Accumulation Amount $ 0.00
c. Controlled Deposit Amount $ 0.00
(Z).a. CTO Adjusted Invested Amount as of beginning of Due Period $ 26,125,000.00
CTO Monthly Principal (the least of x,y,z) $ 0.00
47. Class D Monthly Principal (pursuant to section 4.4d)
(distributable only after CTO is paid in full) $ 0.00
Available Funds
48. Class A Available Funds
a. Class A Finance Charge allocation (line 31a) $ 3,255,910.19
b. Class A Cap Payment $ 0.00
c. The amount of Principal Funding Investment Proceeds and
Reserve Account Investment Proceeds for such prior Due Period $ 0.00
d. Any amount of Reserve Account withdrawn and
included in Class A Available Funds (section 4.14d) $ 0.00
e. Class A Available Funds (sum a-d) $ 3,255,910.19
49. Class B Available Funds
a. Class B Finance Charge allocation (line 31b) $ 512,917.36
b. Class B Cap Payment $ 0.00
c. The amount of Principal Funding Investment Proceeds and
Reserve Account Investment Proceeds for such prior Due Period $ 0.00
d. Any amount of Reserve Account withdrawn and
included in Class B Available Funds (section 4.14d) $ 0.00
e. Class B Available Funds (sum a-c) $ 512,917.36
50. CTO Available Funds:
a. CTO Finance Charge allocation (line 35c) $ 423,714.34
b. On or After CTO Principal Commencement Date, the
amount of Principal Funding Investment Proceeds for
such prior Due Period $ 0.00
c. Any amount of Reserve Account withdrawn and
included in CTO Available Funds (section 4.14d) $ 0.00
d. CTO Available Funds (sum a-c) $ 423,714.34
51. Class D Available Funds
a. Class D Finance Charge allocation (line 31d) $ 267,609.06
Reallocated Principal Collections
52. Class D Subordinated Principal Collections (to the extent $ 0.00
needed to fund Required Amounts)
53. Collateral Subordinated Principal Collections (to the extent $ 0.00
needed to fund Required Amounts)
54. Class B Subordinated Principal Collections (to the extent $ 0.00
needed to fund Required Amounts)
55. Total Reallocated Principal Collections $ 0.00
Investor Default Amounts
56. Class A Investor Default Amount $ 809,974.87
4.89%
57. Class B Investor Default Amount $ 127,598.78
% 4.89%
58. CTO Investor Default Amount $ 105,407.69
% 4.89%
59. Class D Investor Default Amount $ 66,573.28
% 4.89%
60. Aggregate Investor Default Amount $ 1,109,554.62
% 4.89%
Allocable Amounts for Series 2000-2
61. The Allocable Amount for Series 2000-2 as of the end of the
relevant Due Period (Inv Default Amt + Series 00-1 Adjust Amt)
Class A $ 809,974.87
Class B $ 127,598.78
Class C $ 105,407.69
Class D $ 66,573.28
------------------
------------------
Aggregate Allocable Amount $ 1,109,554.62
Required Amounts for Series 2000-2
62. Class A Required Amount (section 4.5a)
a. Class A Monthly Interest for current Distribution
Date $ 1,022,570.31
b. Class A Monthly Interest previously due but not
paid $ 0.00
c. Class A Additional Interest for prior Due Period
or previously due but not paid $ 0.00
d. Class A Investor Allocable Amount $ 809,974.87
e. Class A Servicing Fee (if FNANB is no longer
servicer) $ 0.00
f. Class A Available Funds $ 3,255,910.19
g. Class A Required Amount (sum of a-e minus f) $ 0.00
63. Class B Required Amount (section 4.5b)
a. Class B Monthly Interest for current Distribution
Date $ 177,429.43
b. Class B Monthly Interest previously due but not
paid $ 0.00
c. Class B Additional Interest for prior Due Period
or previously due but not paid $ 0.00
d. Class B Servicing Fee (if FNANB is no longer
servicer) $ 0.00
e. Class B Available Funds $ 512,917.36
f. Excess of Class B Allocable Amount over
funds available to make payments (section 4.8d) $ 0.00
g. Class B Required Amount ((sum of a-d) minus e
plus f) $ 0.00
64. CTO Required Amount (section 4.5c)
a. CTO/Class D Monthly Interest for current
Distribution date $ 267,560.68
b. CTO/Class D Monthly Interest previously
due but not paid $ 0.00
c. CTO/Class D Additional Interest for prior
Due Period or previously due but not paid $ 0.00
d. CTO/Class D Servicing Fee (if FNANB is
no longer servicer) $ 0.00
e. CTO/Class D Available Funds $ 691,323.40
f. Excess of Collateral/Class D Allocable Amount
over funds available to make payments $ 0.00
g. CTO/Class D Required Amount ((sum of
a-d) minus e plus f) $ 0.00
Investor Charge-Offs
65. The aggregate amount of Class A Investor Charge-Offs and the
reductions in the Class B Invested Amount, Collateralized Trust Obligation
Amount and Class D Invested Amount
a. Class A $ 0.00
b. Class B $ 0.00
c. Collateralized Trust Obligation Amount $ 0.00
d. Class D $ 0.00
66. The aggregate amount of Class B Investor Charge-Offs and the
reductions in the Collateralized Trust Obligation Amount and Class D
Invested Amount
a. Class B $ 0.00
b. Collateralized Trust Obligation Amount $ 0.00
c. Class D $ 0.00
67. The aggregate amount of Collateral Charge-Offs and the reductions
in Class D Invested Amount
a. Collateralized Trust Obligation Amount $ 0.00
b. Class D $ 0.00
Servicing Fee
(2% of total Invested Amount)
68. Class A Servicing Fee for the relevant Due Period $ 334,583.33
69. Class B Servicing Fee for the relevant Due Period $ 52,708.33
70. CTO Servicing Fee for the relevant Due Period $ 43,541.67
71. Class D Servicing Fee for the relevant Due Period $ 27,500.00
Reserve Account
72. Lowest historical 3 month average Portfolio Yield less 3 month
average Base Rate (must be > 4%, or line 77 will adjust accordingly) % 5.89%
73. Reserve Account Funding Date (based on line 76) 10/15/02
74. Required Reserve Account Amount (after the Reserve Account
Funding Date, 0.5% times the Class A, Class B, and CTO O/S Certificates) $ 0.00
75. Covered Amount $ 0.00
76. Available Reserve Account Amount
a. Reserve Draw Amount (covered amount - p.f. proceeds) $ 0.00
b. Reserve Account Investment Proceeds $ 0.00
c. Amount on deposit in the Reserve Account at the end of the
relevant Due Period less Investment Proceeds $ 0.00
d. Required Reserve Account Amount (line 78) $ 0.00
e. Available Reserve Account Amount (after Reserve Draw) $ 0.00
------------------
------------------
f. Required Reserve Account Deposit on Distribution Date $ 0.00
------------------
------------------
Principal Funding Account
77. Principal Funding Account Balance at the beginning of the Due Period $ 0.00
78. a. Daily Deposits to the Principal Funding Account during the
relevant Due Period (pursuant to sec 4.6f) $ 0.00
b. Principal Funding Account Investment Proceeds $ 0.00
79. Withdrawals from the Principal Funding Account during the relevant
Due Period $ 0.00
80. Principal Funding Account Balance as of the last day of the
relevant Due Period $ 0.00
Spread Account
81. Average Excess Spread Percentage for three consecutive Due Periods % 6.06%
82. Available Spread Account Amount
a. Spread Account Balance at the beginning of the Due Period $ 0.00
b. Spread Account Draw Amount $ 0.00
c. Spread Account Investment Proceeds $ 0.00
d. Amount on Deposit in the Spread Account at end of relevant
Due Period less Spread Acct Investment Proceeds $ 0.00
e. Required Spread Account Amount $ 0.00
f. Available Spread Account Amount (lesser of d and e) $ 0.00
83. Spread Account deficiency, deposit to Spread Account $ 0.00
84. Spread Account Surplus $ 0.00
85. LIBOR Determination date for the relevant Due Period 11-Jan-01
86. LIBOR rate for the relevant Due Period % 5.8825%
87. As of the date hereof, no Early Amortization Event has been
deemed to have occurred during the relevant Due Period.
IN WITNESS WHEREOF, the undersigned has duly executed
and delivered this Certificate this 7th day of February, 2001
FIRST NORTH AMERICAN NATIONAL BANK,
as Servicer
By ____________________________________
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President