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)    March 25, 1999
                                                    -------------------------
                                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 March 25, 1999, MBNA America Bank, N.A. ("MBNA America"), a wholly
owned subsidiary of MBNA Corporation, completed the securitization of
$500.0 million of five-year credit card asset backed securities.  MBNA America
transferred credit card receivables to MBNA Master Credit Card Trust II which
issued Series 1999-A.  The transaction had two classes of publicly traded
securities (Class A and Class B), and a separate, privately placed, collateral
invested amount.

     Series 1999-A consists of $425.0 million Class A (senior) floating rate
asset backed certificates and $37.5 million Class B (subordinate) floating
rate asset backed certificates.  The privately placed collateral invested
amount was issued in the amount of $37.5 million and is subordinate to the
Class A and Class B asset backed certificates. The 5.0 year Class A
certificates accrue interest at 14 basis points over the one month London
Interbank Offered Rate ("LIBOR").  The 5.0 year Class B certificates accrue
interest at 37 basis points over the one month LIBOR.  Both the Class A and
Class B certificates were priced at par.  MBNA America retained ownership of
the credit card accounts which generated the receivables and will act as
servicing agent for Series 1999-A.


                                   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: March 25, 1999                           By: /s/  M. Scot Kaufman
                                                  ---------------------------
                                                        M. Scot Kaufman
                                                   Executive Vice President
                                                  and Chief Financial Officer
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 3472}]
{"company-data": {"conformed-name": "MBNA CORP", "cik": "0000870517", "assigned-sic": "6021", "irs-number": "521713008", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10683", "film-number": "99572528"}, "business-address": {"street1": "1100 N KING ST", "street2": "C/O MBNA AMERICA BANK NA", "city": "WILMINGTON", "state": "DE", "zip": "19884", "phone": "8003626255"}, "mail-address": {"street1": "1100 NORTH KING STREET", "city": "WILMINGTON", "state": "DE", "zip": "19884"}}
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)    March 25, 1999
                                                    -------------------------
                                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 March 25, 1999, MBNA America Bank, N.A. ("MBNA America"), a wholly
owned subsidiary of MBNA Corporation, completed the securitization of
$500.0 million of five-year credit card asset backed securities.  MBNA America
transferred credit card receivables to MBNA Master Credit Card Trust II which
issued Series 1999-A.  The transaction had two classes of publicly traded
securities (Class A and Class B), and a separate, privately placed, collateral
invested amount.

     Series 1999-A consists of $425.0 million Class A (senior) floating rate
asset backed certificates and $37.5 million Class B (subordinate) floating
rate asset backed certificates.  The privately placed collateral invested
amount was issued in the amount of $37.5 million and is subordinate to the
Class A and Class B asset backed certificates. The 5.0 year Class A
certificates accrue interest at 14 basis points over the one month London
Interbank Offered Rate ("LIBOR").  The 5.0 year Class B certificates accrue
interest at 37 basis points over the one month LIBOR.  Both the Class A and
Class B certificates were priced at par.  MBNA America retained ownership of
the credit card accounts which generated the receivables and will act as
servicing agent for Series 1999-A.

                                   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: March 25, 1999                           By: /s/  M. Scot Kaufman
                                                  ---------------------------
                                                        M. Scot Kaufman
                                                   Executive Vice President
                                                  and Chief Financial Officer