American Honda Rec Corp Honda Auto Rec 1994-A Grantor Trust · 8-K · For 6/30/96 · EX-28

Filed On 7/16/96   ·   SEC File 33-67204-03   ·   Accession Number 920243-96-4

Current Report   ·   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3     10K 
 2: EX-28       Information from Report Furnished to State             5±    25K 
                          Insurance Regulatory Authorities                       

EX-28   ·   Information from Report Furnished to State Insurance Regulatory Authorities

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                                    AMERICAN HONDA FINANCE CORPORATION                                    

                                    MONTHLY SERVICING REPORT -- Honda Grantor Trust 1994-A                

                                    June 1, 1996 through June 30, 1996                                    

                                                                                                          
A. ORIGINAL DEAL PARAMETER INPUTS                                                                         

(A) Original Total Portfolio                                           $435,814,748.61                    
(B) Class A Certificate Ownership Interest of the Trust                          92.75%                   
(C) Original Class A Certificate Balance                               $404,218,179.34                    
(D) Class A Certificate Rate                                                      4.80%                   
(E) Original Class B Certificate Balance                                $31,596,569.27                    
(F) Class B Certificate Rate                                                      4.80%                   
(G) Servicing Fee Rate                                                            1.00%                   
(H) Original Weighted Average Coupon (WAC)                                        9.44%                   
(I) Original Weighted Average Remaining Term (WAM)                                     month              
(J) Number of Contracts                                                                  41,400           
(K) Reserve Fund                                                                                          
    (i)    Reserve Fund Initial Deposit Percentage                                0.15%                   
    (ii)   Reserve Fund Initial Deposit                                    $653,722.00                    
    (iii)  Specified Reserve Fund Balance Percent                                 0.75%                   
    (iv)   Specified Reserve Fund Balance                                $3,268,611.00                    
    (v)    Floor Percent                                                          1.50%                   
    (vi)   Floor Amount                                                  $6,537,221.00                    
    (vii)  Floor Trigger Amount                                        $130,744,425.00                    
(L) Original Letter of Credit Amount                                         30,000,000.00                
(M) Number of Contructs @2/1/94 (L.C.Reset Percentage Basis)                             41,400           

B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS                                                          

(A) Total Portfolio Outstanding                                        $114,302,262.85                    
(B) Total Portfolio Pool Factor                                                    0.2622726              
(C) Class A Certificate Balance                                        $106,015,348.79                    
(D) Class A Principal Factor                                                       0.2622726              
(E) Class B Certificate Balance                                          $8,286,914.06                    
(F) Reserve Fund Balance                                                 $6,537,221.00                    
(G) Outstanding Advance                                                             1,442,379             
(H) Payahead Account Balance                                                        1,803,598             
(I) Cumulative Net Losses for All Prior Periods                                     1,870,456             
(J) Weighted Average Coupon of Remaining Portfolio (WAC)                          9.02%                   
(K) Weighted Average Remaining Term of Remaining Portfolio (WAM)                       month              
(L) Number of Contracts                                                                  20,524           
(M) Letter of Credit Amount                                                       14,872,464              

C. INPUTS FROM THE MAINFRAME                                                                              

(A) Precomputed Contracts Principal                                                                       
    (i)   Scheduled Principal Collections                                $5,038,573.81                    
    (ii)  Prepayments in Full                                                  2,013,908.37               
    (iii) Prepayments in Full Due to Repurchases                                  0.00                    
(B) Precomputed Contracts Total Collections                               7,654,502.76                    
(C) Payment Advance                                                                                       
    (i)  Reimbursement of Previous Advances                                 345,967.26                    
    (ii) Current Advance Amount                                            $648,587.28                    
(D) Payahead Account                                                                                      
    (i)  Payments Applied                                                   270,562.89                    
    (ii) Additional Payaheads                                               226,590.19                    
(E) Weighted Average Coupon of Remaining Portfolio (WAC)                          9.01%                   
(F) Weighted Average Remaining Maturity of Remaining Portfolio (WAM)             23.15 month              
(G) Remaining Number of Contracts                                               19,871                    
(H) Delinquent Contracts                                                                                  
                                                   Contracts                     Amount                   
                                                ---------------------  --------------------------------   
    (i)   30-59 Days Delinquent                                 1.84%       $2,468,758   2.31%            
    (ii)  60-89 Days Delinquent                                 0.24%                    0.24%            
    (iii) 90 Days or More Delinquent                            0.10%                    0.16%            

D. INPUTS DERIVED FROM OTHER SOURCES                                                                      

(A) Collection Account Investment Income -- Paid to Servicer                      0.00                    
(B) Reserve Fund Investment Income -- Paid to Seller                                28,054.63             
(C) Aggregate Net Losses for Collection Period                                      25,527.71             
(D) Liquidated Contracts                                                                                  
    (i)   Gross Principal Balance of Liquidated Receivables                $157,914.95                    
    (ii)  Net Liquidation Proceeds Received During the Collection Per               88,965.79             
    (iii) Recoveries on Previously Liquidated Contracts                             43,421.45             
(E) Number of Vehicles Repossessed During the Collection Period                                 20        


                                    AMERICAN HONDA FINANCE CORPORATION                                    

                                    MONTHLY SERVICING REPORT -- Honda Grantor Trust 1994-A                

                                    June 1, 1996 through June 30, 1996                                    

                                                                                                          
I. COLLECTIONS                                                                                            

(A) Principal Payments Received (C(A)i-iii)                              $7,052,482.18                    
(B) Interest Payments Received (C(B)-(C(A)i-iii))                                 602,020.58              
(C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii)                132,387.24                    
(D) Principal on Repurchased Contracts (C(A)iv)                                   0.00                    

(E) Total Collections (Amount deposited to Certificate Account) (A+B+    $7,786,890.00                    

II. DISTRIBUTIONS                                                                                         

(A) Principal Payments Received (I(A))                                   $7,052,482.18                    
(B) Principal on Repurchased Contracts (I(D))                                     0.00                    
(C) Gross Principal Balance of Liquidated Receivables (D(D)i)                     157,914.95              

(D) Total Principal Reduction (A+B+C)                                    $7,210,397.13                    

(E) Class A Distributable Amount                                                                          
    (i)   Class A Monthly Interest Payment (A(D)*B(C))                     $424,061.40                    

    (ii)  Monthly Principal to Class A (II(D)*A(B))                      $6,687,643.33                    

    (iii) Total Distributable Amount (i+ii)                              $7,111,704.73                    

(F) Class B Distributable Amount                                                                          
    (i)   Class B Monthly Interest Payment (A(F)*B(E))                      $33,147.66                    
    (ii)  Monthly Principal to Class B (II(D)-(E)ii)                              522,753.80              

    (iii)  Total Class B Distributable Amount (i+ii)                       $555,901.46                    

(G) Required Distributions                                                                                
    (i)   Servicing Fee (A(G)*B(A))                                         $95,251.89                    
    (ii)  Class A Distributable Amount (II(E)iii)                              7,111,704.73               
    (iii)  Class B Distributable Amount (II(F)iii)                                555,901.46              
    (iv)  Deposit to Reserve Fund (If Positive (IV(G)-(A)))                       0.00                    
    (v)   Residual Releases to Seller (IV(F))                                       24,031.92             

    (vi)  Total Amount Distributed (i+ii+iii+iv+v)                       $7,786,890.00                    

(H) Amount of Draw from Reserve Fund (IV(B))                                     $0.00                    
(I) Sum of Draw from Reserve Fund and Total Collection (I(E)+IV(B))            7,786,890.00               

III. POOL BALANCES AND PORTFOLIO INFORMATION                                                              

                                                 Beginning                  End                           
                                                 of Period               of Period                        
(A) Balances and Principal Factors                                                                        
    (i)   Total Pool Balance                   $114,302,262.85         $107,091,865.72                    
    (ii)  Total Pool Factor                          0.2622726               0.2457280                    
    (iii) Class A Certificate Balance          $106,015,348.79          $99,327,705.46                    
    (iv)  Class A Principal Factor                   0.2622726               0.2457280                    
    (v)   Class B Certificate Balance            $8,286,914.06           $7,764,160.26                    

(B) Portfolio Information                                                                                 
    (i)   Weighted Average Coupon (WAC)                   9.02%                   9.01%                   
    (ii)  Weighted Average Remaining Maturity            23.96 months            23.15 months             
    (iii) Remaining Number of Contracts                 20,524                  19,871                    

(C) Outstanding Interest Advance                 $1,442,378.96           $1,744,998.98                    


                                    AMERICAN HONDA FINANCE CORPORATION                                    

                                    MONTHLY SERVICING REPORT -- Honda Grantor Trust 1994-A                

                                    June 1, 1996 through June 30, 1996                                    

                                                                                                          
IV. RECONCILIATION OF RESERVE FUND                                                                        

(A) Beginning Reserve Fund Balance (B(F))                                $6,537,221.00                    
(B) Draw for Class A and Class B Distributable Amount   (If Positive(             0.00                    
    (i) Contribution from Seller to fund new floor amount per Article I of Pooling and Servicing Agreement
(C) Amount Available for Deposit to the Reserve Fund                         24,031.92                    
        (If Positive (I(E)-(II(E)iii+II(G)i+II(F)iii)))                                                   
(D) Reserve Fund Balance Prior to Release (IV(A-B+C))                    $6,561,252.92                    

(E) Reserve Fund Required Amount (Was Trigger or Floor Hit?)             $6,537,221.00                    

(F) Residual Releases from Reserve Fund (If Positive (D-E))                  24,031.92                    

(G) Ending Reserve Fund Balance (D-F)                                     6,537,221.00                    

V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY                                                              

(A) Liquidated Contracts                                                                                  
    (i)   Gross Principal Balance of Liquidated Receivables (D(D)i)        $157,914.95                    
    (ii)  Net Liquidation Proceeds Received During the Collection Per        88,965.79                    
    (iii) Recoveries on Previously Liquidated Contracts (D(D)iii)            43,421.45                    
(B) Aggregate Net Losses for Collection Period (V(A)i-ii-iii)                25,527.71                    
(C) Cumulative Net Losses for all Periods (V(B)+B(I))                     1,895,983.55                    

(D) Delinquent and Repossessed Contracts                                                                  
                                                   Contracts                     Amount                   
                                                ---------------------   ------------------------------    
    (i)   30-59 Days Delinquent                            365  1.84%    $2,468,758.00   2.31%            
    (ii)  60-89 Days Delinquent                             48  0.24%       259,725.00   0.24%            
    (iii) 90 Days or More Delinquent                        20  0.10%       175,368.00   0.16%            

    (iv)  Vehicles Repossessed During the Col               20  0.10%       157,700.21   0.15%            
    (v)  Total Accumulated Repossessed and in               31  0.15%                    0.22%            

VI. TESTS FOR INCREASE IN RESERVE FUND BALANCE                                                            

(A) Ratio of Net Losses to the Pool Balance as of Each Collection Period.                                 
    (i)   Second Preceeding Collection Period                                     0.05%                   
    (ii)  Preceeding Collection Period                                           -0.20%                   
    (iii) Current Collection Period                                               0.28%                   
    (iv)  Three Month Average (Avg(i,ii,iii))                                     0.05%                   

(B) Ratio of Number of Contracts Delinquent 60 Days or More and Accumulated Repossessed in inventory      
      to the Outstanding Number of Receivables as of Each Collection Period.                              
    (i)   Second Preceeding Collection Period                                     0.34%                   
    (ii)  Preceeding Collection Period                                            0.41%                   
    (iii) Current Collection Period                                               0.50%                   
    (iv)  Three Month Average (Avg(i,ii,iii))                                     0.42%                   

(C) Loss and Delinquency Trigger Indicator                           Trigger Was Not Hit                  

VII.  LETTER OF CREDIT SUMMARY                                                                            

(A) Original Letter of Credit Amount   (A(L))                                       30,000,000.00         
(B) Reset Percentage (# of conts end of perd/basis #) (III(B)iii) / (            48.00%                   
(C) Less Draws                                                                                   -        
(D) Balance End of Period  (VII(A) * VII(B))-(VII(C))                        14,399,275.36                
(E) L/C Bal as Percentage of Pool Bal at End of Period  (VII(D) / III          13.4457%                   

I hereby certify that the servicing report provided                                                       
is true and accurate to the best of my knowledge.                                                         

/s/ John Weisickle                                                                                        
John Weisickle, Vice President / Finance                                                                  

Dates Referenced Herein   and   Documents Incorporated By Reference

This 8-K Filing		Date		Other Filings
		6/1/96
For The Period Ended		6/30/96
Filed On / Filed As Of		7/16/96
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