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)     December 18, 2001
                                                    -------------------------
                                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                              19884-0141
   --------------------------------------------------------------------------
   (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 December 18, 2001, MBNA Europe Bank Limited, a wholly owned foreign bank
subsidiary of MBNA America Bank, N.A., located in the United Kingdom, completed
the securitization of 250.0 million pounds sterling of credit card asset-backed
securities issued via a special purpose vehicle, Chester Asset Receivables
Dealings 2001-B PLC (CARDS trademark).  MBNA America Bank, N.A. is a wholly
owned subsidiary of MBNA Corporation.

The transaction had three publicly traded securities, 220.0 million pounds
sterling Class A (senior) floating-rate asset-backed securities, 12.5 million
pounds sterling Class B (subordinate) floating-rate asset-backed securities and
17.5 million pounds sterling Class C (subordinate) floating-rate asset-backed
securities.  The Class A floating-rate asset-backed securities were indexed at
27.5 basis points over the three-month Sterling London Interbank Offered Rate
("LIBOR"), and were priced at par. The Class B floating-rate asset-backed
securities were indexed at 77 basis points over the three-month Sterling LIBOR,
and were priced at par. The Class C floating-rate asset-backed securities were
indexed at 165 basis points over the three-month Sterling LIBOR, and were priced
at par. The securities have an expected maturity of 10 years.  Interest on the
Class A securities, Class B securities and Class C securities will be paid
quarterly.

The securities are governed by English law and are expected to be listed
on the London Stock Exchange.































                                   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:  December 18, 2001                   By: /s/      M. Scot Kaufman
                                               -------------------------------
                                                        M. Scot Kaufman
                                               Senior Executive Vice President
                                                 and Chief Financial Officer
[{"type": "8-K", "sequence": "1", "filename": "cardsb.txt", "secsgml_size_bytes": 3739}]
{"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": "1816726"}, "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)     December 18, 2001
                                                    -------------------------
                                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                              19884-0141
   --------------------------------------------------------------------------
   (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 December 18, 2001, MBNA Europe Bank Limited, a wholly owned foreign bank
subsidiary of MBNA America Bank, N.A., located in the United Kingdom, completed
the securitization of 250.0 million pounds sterling of credit card asset-backed
securities issued via a special purpose vehicle, Chester Asset Receivables
Dealings 2001-B PLC (CARDS trademark).  MBNA America Bank, N.A. is a wholly
owned subsidiary of MBNA Corporation.

The transaction had three publicly traded securities, 220.0 million pounds
sterling Class A (senior) floating-rate asset-backed securities, 12.5 million
pounds sterling Class B (subordinate) floating-rate asset-backed securities and
17.5 million pounds sterling Class C (subordinate) floating-rate asset-backed
securities.  The Class A floating-rate asset-backed securities were indexed at
27.5 basis points over the three-month Sterling London Interbank Offered Rate
("LIBOR"), and were priced at par. The Class B floating-rate asset-backed
securities were indexed at 77 basis points over the three-month Sterling LIBOR,
and were priced at par. The Class C floating-rate asset-backed securities were
indexed at 165 basis points over the three-month Sterling LIBOR, and were priced
at par. The securities have an expected maturity of 10 years.  Interest on the
Class A securities, Class B securities and Class C securities will be paid
quarterly.

The securities are governed by English law and are expected to be listed
on the London Stock Exchange.

                                   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:  December 18, 2001                   By: /s/      M. Scot Kaufman
                                               -------------------------------
                                                        M. Scot Kaufman
                                               Senior Executive Vice President
                                                 and Chief Financial Officer