<HTML><HEAD><TITLE>August 2004 Asset Quality Form 8-K</TITLE><!-- Licensed to: MBNA Corporation --><!-- Document Created using EDGARIZER HTML --><!-- Copyright 2004 EDGARfilings, Ltd., an IEC company.--><!-- All rights reserved EDGARfilings.com -->
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>UNITED STATES </STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>SECURITIES AND EXCHANGE COMMISSION</STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Washington, D.C. 20549</STRONG></FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman"><STRONG>FORM 8-K</STRONG></FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>CURRENT REPORT</STRONG></FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Securities Exchange Act of 1934</STRONG></FONT></DIV>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date of Report (Date of earliest event reported)</FONT></DIV></TD>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>August 31, 2004</STRONG></FONT></DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman"><STRONG>MBNA Corporation</STRONG></FONT></DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Maryland</STRONG></FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>1-10683</STRONG></FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>52-1713008</STRONG></FONT></DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Wilmington, Delaware</STRONG></FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>19884-0131</STRONG></FONT></DIV></TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Registrant's telephone number, including area code</FONT></DIV></TD>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>(800) 362-6255</STRONG></FONT></DIV></TD></TR></TABLE>
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(Former name or former address, if changed since last report)</FONT></DIV></TD></TR></TABLE>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></DIV></TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></DIV></TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></DIV></TD></TR></TABLE>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 8.01 Other Events</STRONG></FONT></DIV>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">The net credit loss and loan delinquency ratios for MBNA Corporation ("the Corporation"), for its loan receivables and its managed loans for the month ended August 31, 2004, are presented in the table below.</FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif"><STRONG>Net Credit </STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif"><STRONG>Loss (a)</STRONG></FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif"><STRONG>Delinquency (b)</STRONG></FONT></DIV></TD>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="14%" colSpan=2>&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="14%" colSpan=2>&nbsp;</TD>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Loan receivables (c) </FONT></DIV></TD>
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<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.32</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">3.37</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Credit card loan receivables</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.09</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">3.54</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Other consumer loan receivables</FONT></DIV></TD>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">5.65</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">3.63</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="67%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Commercial loan receivables</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT> </DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">2.24</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">1.89</FONT></DIV></TD>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="67%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Managed loans (d)</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.69</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.00</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="67%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Managed credit card loans</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.52</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.01</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="67%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Managed other consumer loans</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">6.38</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">4.51</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
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<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="67%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">Managed commercial loans</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">2.92</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="13%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman, serif">2.19</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV align=left><BR></DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">The following tables reconcile loan receivables data to managed loans data presented above (dollars in thousands):</FONT></DIV>
<DIV align=left><BR></DIV>
<DIV align=left>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="35%" colSpan=8>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>For the Month Ended August 31, 2004</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="35%" colSpan=8>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>At August 31, 2004</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="11%" colSpan=2>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Net Credit Losses (a)</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="11%" colSpan=2>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Average Loans Outstanding</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="11%" colSpan=2>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Net Credit Loss </STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Ratio (a)</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="11%" colSpan=2>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Delinquent Balances (b)</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="11%" colSpan=2>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Ending Loans Outstanding</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=middle width="11%" colSpan=2>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Delinquency Ratio (b)</STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="23%" colSpan=5>&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="11%" colSpan=2>&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="23%" colSpan=5>&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="11%" colSpan=2>&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Loan receivables:</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Credit card</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">61,861</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">18,135,509</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.09</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">672,682</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">19,009,026</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3.54</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Other consumer</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">41,019</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">8,711,969</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">5.65</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">313,709</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">8,635,688</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3.63</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Commercial</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">6,787</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,632,169</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.24</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">68,448</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,629,255</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1.89</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total loan </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">receivables (c) </FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">109,667</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">30,479,647</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.32</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,054,839</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">31,273,969</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3.37</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Securitized loans:</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Credit card</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">314,511</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">81,687,482</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.62</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,322,628</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">80,646,768</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.12</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Other consumer</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">35,427</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">5,670,176</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">7.50</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">330,570</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">5,664,240</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">5.84</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Commercial</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,521</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,007,610</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">5.38</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">32,907</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,007,072</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3.27</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total securitized </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">loans</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">354,459</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">88,365,268</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.81</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,686,105</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">87,318,080</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.22</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Managed loans:</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Credit card</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">376,372</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">99,822,991</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.52</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,995,310</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">99,655,794</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.01</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">%</FONT></DIV></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Other consumer</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">76,446</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">14,382,145</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">6.38</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">644,279</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">14,299,928</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.51</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Commercial</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">11,308</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,639,779</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.92</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">101,355</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,636,327</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.19</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="26%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total managed </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">loans (d)</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="2%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">464,126</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">118,844,915</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.69</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,740,944</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black double" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">118,592,049</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=right width="10%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4.00</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<DIV align=left><BR></DIV><BR>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp; </TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD style="PAGE-BREAK-AFTER: always" width="100%" colSpan=3><FONT size=1>
<HR color=#000000 noShade SIZE=2>
</FONT></TD></TR></TABLE>
<TABLE id=HDR cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR>
<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE>
<DIV align=left>&nbsp;</DIV><BR>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(a) The Corporation&#146;s net credit loss ratio is calculated by dividing annualized net credit losses, which exclude uncollectible accrued interest and fees and fraud losses, for the period by average loans, which include the estimated collectible billed interest and fees for the corresponding period.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(b) Delinquency represents accruing loans that are 30 days or more past due. </FONT></DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(c)&nbsp; Loan receivables include loans held for securitization and the loan portfolio.</FONT></DIV>
<DIV align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(d) Managed loans include loan receivables and securitized loans. The Corporation allocates resources on a managed basis, and financial data provided to management reflects the Corporation's results on a managed basis. Managed data assumes the Corporation's securitized loan principal receivables have not been sold and presents the net credit losses and delinquent balances on the securitized loan principal receivables in the same fashion as the Corporation's owned loans. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Management, equity and debt analysts, rating agencies and others evaluate the Corporation's operations on a managed basis because the loans that are securitized are subject to underwriting standards comparable to the Corporation's owned loans, and the Corporation services the securitized and owned loans, and the related accounts, together and in the same manner without regard to ownership of the loans. In a securitization, the account relationships are not sold to the trust. The Corporation continues to own and service the accounts that generate the securitized loan principal receivables. The credit performance of the entire managed loan portfolio is important to understand the quality of loan originations and the related credit risks inherent in the owned portfolio and retained interests in securitization transactions.</FONT></DIV>
<DIV align=justify><BR></DIV>
<DIV style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Cautionary Language: The Corporation&#146;s future net credit losses are by their nature uncertain and changes in economic conditions, bankruptcy laws, regulatory policies, and other factors may impact losses.</FONT></DIV>
<DIV></DIV><BR>
<DIV></DIV><BR>
<DIV style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV></DIV><BR>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp; </TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD style="PAGE-BREAK-AFTER: always" width="100%" colSpan=3><FONT size=1>
<HR color=#000000 noShade SIZE=2>
</FONT></TD></TR></TABLE>
<TABLE id=HDR cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR>
<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR>
<DIV align=justify><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>SIGNATURE</STRONG></FONT></DIV>
<DIV align=left><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></DIV>
<DIV align=left><BR></DIV>
<DIV align=left><BR></DIV>
<DIV align=left><BR></DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
<TD vAlign=top align=left width="54%">&nbsp;</TD>
<TD vAlign=top align=left width="4%">&nbsp;</TD>
<TD vAlign=top align=middle width="29%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">MBNA Corporation</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top align=left width="54%">&nbsp;</TD>
<TD vAlign=top align=left width="4%">&nbsp;</TD>
<TD vAlign=top align=left width="29%">&nbsp;</TD></TR>
<TR>
<TD vAlign=top align=left width="54%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date: September 15, 2004</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=left width="4%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">/s/</FONT></DIV></TD>
<TD style="BORDER-BOTTOM: black thin solid" vAlign=top align=middle width="29%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Vernon H.C. Wright</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top align=left width="54%">&nbsp;</TD>
<TD vAlign=top align=left width="4%">&nbsp;</TD>
<TD vAlign=top align=middle width="29%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Vernon H.C. Wright</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top align=left width="54%">&nbsp;</TD>
<TD vAlign=top align=left width="4%">&nbsp;</TD>
<TD vAlign=top align=middle width="29%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Chief Financial Officer</FONT></DIV></TD></TR></TABLE>
<DIV align=left><BR></DIV>
<DIV align=left><BR></DIV>
<DIV></DIV></DIV></BODY></HTML>
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August 2004 Asset Quality Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 31, 2004
MBNA Corporation
(Exact name of registrant as specified in its charter)
Maryland
1-10683
52-1713008
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
Wilmington, Delaware
19884-0131
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(800) 362-6255
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
The net credit loss and loan delinquency ratios for MBNA Corporation ("the Corporation"), for its loan receivables and its managed loans for the month ended August 31, 2004, are presented in the table below.
Net Credit
Loss (a)
Delinquency (b)
Loan receivables (c)
4.32
%
3.37
%
Credit card loan receivables
4.09
3.54
Other consumer loan receivables
5.65
3.63
Commercial loan receivables
2.24
1.89
Managed loans (d)
4.69
4.00
Managed credit card loans
4.52
4.01
Managed other consumer loans
6.38
4.51
Managed commercial loans
2.92
2.19
The following tables reconcile loan receivables data to managed loans data presented above (dollars in thousands):
For the Month Ended August 31, 2004
At August 31, 2004
Net Credit Losses (a)
Average Loans Outstanding
Net Credit Loss
Ratio (a)
Delinquent Balances (b)
Ending Loans Outstanding
Delinquency Ratio (b)
Loan receivables:
Credit card
$
61,861
$
18,135,509
4.09
%
$
672,682
$
19,009,026
3.54
%
Other consumer
41,019
8,711,969
5.65
313,709
8,635,688
3.63
Commercial
6,787
3,632,169
2.24
68,448
3,629,255
1.89
Total loan
receivables (c)
$
109,667
$
30,479,647
4.32
$
1,054,839
$
31,273,969
3.37
Securitized loans:
Credit card
$
314,511
$
81,687,482
4.62
%
$
3,322,628
$
80,646,768
4.12
%
Other consumer
35,427
5,670,176
7.50
330,570
5,664,240
5.84
Commercial
4,521
1,007,610
5.38
32,907
1,007,072
3.27
Total securitized
loans
$
354,459
$
88,365,268
4.81
$
3,686,105
$
87,318,080
4.22
Managed loans:
Credit card
$
376,372
$
99,822,991
4.52
%
$
3,995,310
$
99,655,794
4.01
%
Other consumer
76,446
14,382,145
6.38
644,279
14,299,928
4.51
Commercial
11,308
4,639,779
2.92
101,355
4,636,327
2.19
Total managed
loans (d)
$
464,126
$
118,844,915
4.69
$
4,740,944
$
118,592,049
4.00
(a) The Corporation's net credit loss ratio is calculated by dividing annualized net credit losses, which exclude uncollectible accrued interest and fees and fraud losses, for the period by average loans, which include the estimated collectible billed interest and fees for the corresponding period.
(b) Delinquency represents accruing loans that are 30 days or more past due.
(c)  Loan receivables include loans held for securitization and the loan portfolio.
(d) Managed loans include loan receivables and securitized loans. The Corporation allocates resources on a managed basis, and financial data provided to management reflects the Corporation's results on a managed basis. Managed data assumes the Corporation's securitized loan principal receivables have not been sold and presents the net credit losses and delinquent balances on the securitized loan principal receivables in the same fashion as the Corporation's owned loans.
Management, equity and debt analysts, rating agencies and others evaluate the Corporation's operations on a managed basis because the loans that are securitized are subject to underwriting standards comparable to the Corporation's owned loans, and the Corporation services the securitized and owned loans, and the related accounts, together and in the same manner without regard to ownership of the loans. In a securitization, the account relationships are not sold to the trust. The Corporation continues to own and service the accounts that generate the securitized loan principal receivables. The credit performance of the entire managed loan portfolio is important to understand the quality of loan originations and the related credit risks inherent in the owned portfolio and retained interests in securitization transactions.
Cautionary Language: The Corporation's future net credit losses are by their nature uncertain and changes in economic conditions, bankruptcy laws, regulatory policies, and other factors may impact losses.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MBNA Corporation
Date: September 15, 2004
/s/
Vernon H.C. Wright
Vernon H.C. Wright
Chief Financial Officer