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)    May 8, 1997
                                                    -------------------------
                                MBNA Corporation
   --------------------------------------------------------------------------
              (Exact name of registrant as specified in its charter)



           Maryland                    1-10683             52-1713008
   --------------------------------------------------------------------------
   (State or other jurisdiction     (Commission       (I.R.S. Employer
        of incorporation)           File Number)       Identification No.)



             Wilmington, Delaware                              19884
   --------------------------------------------------------------------------
   (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.)
<PAGE>
Item 5.  Other Events


     On May 8, 1997, MBNA America Bank, N.A. ("MBNA America"), a wholly owned
subsidiary of MBNA Corporation, completed the securitization of approximately
$750.0 million of five-year, floating rate credit card asset backed
securities.  MBNA America transferred credit card receivables to MBNA Master
Credit Card Trust II which issued Series 1997-E.  The transaction had two
classes of publicly traded securities (Class A and Class B) and a separate
class of privately placed collateral invested amounts.

     Series 1997-E consists of $637.5 million Class A (senior) floating rate
asset backed certificates and $56.25 million Class B (subordinate) floating
rate asset backed certificates.  The 5.0 year Class A certificates accrue
interest at 8 basis points over the three month London Interbank Offered Rate
(LIBOR). The 5.0 year Class B certificates accrue interest at 28 basis points
over the three month LIBOR.  Both the Class A and Class B certificates were
priced at par.  The privately placed class of floating rate asset backed
certificates were issued in the amount of $56.25 million and are subordinate
to the Class A and Class B asset backed certificates.  MBNA America retained
ownership of the credit card accounts which generated the receivables and will
act as servicing agent for Series 1997-E.
<PAGE>

                                   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 thereunto duly authorized.








                                                    MBNA CORPORATION


Date: May 8, 1997                       By:     /s/ M. Scot Kaufman
                                           -----------------------------------
                                                    M. Scot Kaufman
                                                Executive Vice President
                                              and Chief Financial Officer
<PAGE>
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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)    May 8, 1997
                                                    -------------------------
                                MBNA Corporation
   --------------------------------------------------------------------------
              (Exact name of registrant as specified in its charter)

           Maryland                    1-10683             52-1713008
   --------------------------------------------------------------------------
   (State or other jurisdiction     (Commission       (I.R.S. Employer
        of incorporation)           File Number)       Identification No.)

             Wilmington, Delaware                              19884
   --------------------------------------------------------------------------
   (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.)
Item 5.  Other Events

     On May 8, 1997, MBNA America Bank, N.A. ("MBNA America"), a wholly owned
subsidiary of MBNA Corporation, completed the securitization of approximately
$750.0 million of five-year, floating rate credit card asset backed
securities.  MBNA America transferred credit card receivables to MBNA Master
Credit Card Trust II which issued Series 1997-E.  The transaction had two
classes of publicly traded securities (Class A and Class B) and a separate
class of privately placed collateral invested amounts.

     Series 1997-E consists of $637.5 million Class A (senior) floating rate
asset backed certificates and $56.25 million Class B (subordinate) floating
rate asset backed certificates.  The 5.0 year Class A certificates accrue
interest at 8 basis points over the three month London Interbank Offered Rate
(LIBOR). The 5.0 year Class B certificates accrue interest at 28 basis points
over the three month LIBOR.  Both the Class A and Class B certificates were
priced at par.  The privately placed class of floating rate asset backed
certificates were issued in the amount of $56.25 million and are subordinate
to the Class A and Class B asset backed certificates.  MBNA America retained
ownership of the credit card accounts which generated the receivables and will
act as servicing agent for Series 1997-E.
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 thereunto duly authorized.

                                                    MBNA CORPORATION

Date: May 8, 1997                       By:     /s/ M. Scot Kaufman
                                           -----------------------------------
                                                    M. Scot Kaufman
                                                Executive Vice President
                                              and Chief Financial Officer