Item 1. Business.
Omitted.
Item 2.
Item 2. Properties.
Omitted.
Item 3.
Item 3. Legal Proceedings.
The registrant knows of no material pending legal proceedings involving the People's Bank Credit Card Master Trust (the "Trust"), People's Bank (in its capacity as transferor and servicer of receivables transferred to the Trust) ("People's"), Bankers Trust Company (in its capacity as Trustee) ( the "Trustee") or People's Structured Finance Corp., a wholly owned special purpose subsidiary of People's ("PSFC"), as holder of the Exchangeable Transferor Certificate representing the undivided interest in the assets of the Trust not represented by Certificates, other than routine litigation incidental to the business of the Trust, People's (in such capacity), the Trustee (in such capacity) or PSFC.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
None.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
(a) To People's knowledge, there is no established public trading market for the Certificates. The Certificates are represented by one or more certificates registered in the name of Cede & Co. ("Cede"), the nominee of The Depository Trust Company ("DTC"), and PSFC.
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Omitted.
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Omitted.
Item 11.
Item 11. Executive Compensation.
Omitted.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
The Certificates are represented by one or more certificates registered in the name of Cede, the nominee of DTC, and an investor holding an interest in the Trust is not entitled to receive a Certificate representing such interest except in limited circumstances set forth in the Amended and Restated Pooling and Servicing Agreement, dated as of March 18, 1997, between People's and the Trustee, amending and restating in its entirety the Pooling and Servicing Agreement, dated as of June 1, 1993. Accordingly, Cede is the holder of record of the Certificates, which it holds on behalf of brokers, dealers, banks, and other direct participants in the DTC system. Such direct participants may hold Certificates for their own accounts or for the accounts of their customers. The name and address of Cede is:
Cede & Co. c/o The Depository Trust Company Seven Hanover Square New York, NY 10004
PSFC owns the Exchangeable Transferor Certificate, representing the undivided interest in the assets of the Trust not represented by Certificates. The address of PSFC is:
PSFC 850 Main Street Bridgeport, CT 06604
Item 13.
Item 13. Certain Relationships and Related Transactions.
To People's knowledge there have not been, and there are not currently proposed any transaction or series of transactions relating to the Trust, to which either the Trust, People's, as transferor or servicer, PSFC, or the Trustee, on behalf of the Trust, is a party with any Certificateholder who owns of record or beneficially more than five percent of the Certificates.
PART IV
Item 14.
Item 14. Exhibits, Financial Statement Schedules, and Report on Form 8-K.
(a) Exhibits
99.1 Management Report on the Internal Control Structure Over Financial Reporting for the Credit Card Division of People's Bank and Management Report on People's Bank's Compliance with Article IV, Section 4.2 of the Pooling and Servicing Agreement.
99.2 Independent Accountants' Report on Management's Report on the Internal Control Structure Over Financial Reporting for the Credit Card Division of People's Bank.
99.3 Independent Accountants' Report on Management's Report on People's Bank's compliance with Article IV, Section 4.2 of the Pooling and Servicing Agreement.
99.4 Aggregate Annual Report for People's Credit Card Master Trust for the Year Ended December 31, 1997.
99.5 Monthly Servicer's Certificates (incorporated by reference to Exhibit 20 of Current Reports on Form 8-K dated February 18, 1997; March 17, 1997; April 15, 1997; May 15, 1997; June 16, 1997; July 15, 1997; August 15, 1997; September 15, 1997; October 15, 1997; November 17, 1997; December 15, 1997; and January 15, 1998).
(b) Reports on Form 8-K
1. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of August dated September 15, 1997.
2. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of August dated August 1, 1997.
3. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of September dated October 15, 1997.
4. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of October dated November 17, 1997.
5. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of November dated December 15, 1997.
6. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of November dated November 1, 1997.
5. People's Bank Credit Card Master Trust Current Report on Form 8-K for the month of December dated January 15, 1998.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
PEOPLE'S BANK as originator of the Trust (Registrant)
By: /s/ David E.A. Carson David E.A. Carson Chief Executive Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on March 19, 1998 by the following persons on behalf of the registrant and in the capacities indicated.
Signatures Title
/s/ David E.A. Carson Chief Executive Officer, Director David E.A. Carson
/s/ Vincent J. Calabrese First Vice President, Comptroller, and Chief Vincent J. Calabrese Accounting Officer
/s/ James P. Biggs President and Chief Operating Officer, James P. Biggs Director
/s/ George W. Morriss Executive Vice President and Chief Financial George W. Morriss Officer
/s/ George P. Carter Director George P. Carter
Director Joseph E. Clancy
/s/ George R. Dunbar Director George R. Dunbar
/s/ Jerry Franklin Director Jerry Franklin
Director Eunice S. Groark
/s/ Samuel W. Hawley Chairman of the Executive Committee, Director Samuel W. Hawley
/s/ Betty Ruth Hollander Director Betty Ruth Hollander
Director Saul Kwartin
/s/ Jeremiah J. Lowney, Jr. Director Jeremiah J. Lowney, Jr.
/s/ Jack E. McGregor Director Jack E. McGregor
Director James A. Thomas
/s/ Wilmot F. Wheeler, Jr. Director Wilmot F. Wheeler, Jr.
EXHIBIT INDEX
No.
99.1 Management Report on the Internal Control Structure Over Financial Reporting for the Credit Card Division of People's Bank and Management Report on People's Bank's Compliance with Article IV, Section 4.2 of the Pooling and Servicing Agreement.
99.2 Independent Accountants' Report on Management's Report on the Internal Control Structure Over Financial Reporting for the Credit Card Division of People's Bank.
99.3 Independent Accountants' Report on Management's Report on People's Bank's Compliance with Article IV, Section 4.2 of the Pooling and Servicing Agreement.
99.4 Aggregate Annual Report for People's Credit Card Master Trust for the Year Ended December 31, 1997.
99.5 Monthly Servicer's Certificates (incorporated by reference to Exhibit 20 of Current Reports on Form 8-K dated February 18, 1997; March 17, 1997; April 15, 1997; May 15, 1997; June 16, 1997; July 15, 1997; August 15, 1997; September 15, 1997; October 15, 1997; November 17, 1997; December 15, 1997; and January 15, 1998).