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): July 19, 1996




                          CITIBANK (SOUTH DAKOTA), N.A.
                                  ON BEHALF OF
                       CITIBANK CREDIT CARD MASTER TRUST I
          (Issuer in respect of the Citibank Credit Card Master Trust I
      8 1/2% Class A Credit Card Participation Certificates, Series 1991-1
        9% Class B Credit Card Participation Certificates, Series 1991-1
        8 % Class A Credit Card Participation Certificates, Series 1991-3
      9 1/4% Class B Credit Card Participation Certificates, Series 1991-3
        8% Class A Credit Card Participation Certificates, Series 1991-4
      8 1/4% Class B Credit Card Participation Certificates, Series 1991-4
      7.875% Class A Credit Card Participation Certificates, Series 1991-6
      8.350% Class B Credit Card Participation Certificates, Series 1991-6
      6 1/4% Class B Credit Card Participation Certificates, Series 1992-1
  Floating Rate Class A Credit Card Participation Certificates, Series 1992-3
  Floating Rate Class B Credit Card Participation Certificates, Series 1992-3
      5 1/2% Class B Credit Card Participation Certificates, Series 1993-1
      5.95% Class A Credit Card Participation Certificates, Series 1993-2
      6.15% Class B Credit Card Participation Certificates, Series 1993-2
       5.50% Class A Credit Card Participation Certificates, Series 1993-3
      5.70% Class B Credit Card Participation Certificates, Series 1993-3
      4.65% Class A Credit Card Participation Certificates, Series 1994-1
       4.85% Class B Credit Card Participation Certificates, Series 1994-1
      7.25% Class A Credit Card Participation Certificates, Series 1994-2
      7.50% Class B Credit Card Participation Certificates, Series 1994-2
       6.80% Class A Credit Card Participation Certificates, Series 1994-3
      7.00% Class B Credit Card Participation Certificates, Series 1994-3
      8.25% Class A Credit Card Participation Certificates, Series 1994-4
       8.25% Class A Credit Card Participation Certificates, Series 1995-1
      8.45% Class B Credit Card Participation Certificates, Series 1995-1



                                                  [COVER PAGE 1 OF  2 PAGES]


<PAGE>



        8 % Class A Credit Card Participation Certificates, Series 1995-2
       7.85% Class A Credit Card Participation Certificates, Series 1995-3
   Floating Rate Class A Credit Card Participation Certificates, Series 1995-4
       7.65% Class B Credit Card Participation Certificates, Series 1995-4
   Floating Rate Class A Credit Card Participation Certificates, Series 1995-5
       6.75% Class A Credit Card Participation Certificates, Series 1995-6
      6.90% Class B Credit Card Participation Certificates, Series 1995-6
      6.70% Class A Credit Card Participation Certificates, Series 1995-8
       6.85% Class B Credit Card Participation Certificates, Series 1995-8
      6.55% Class A Credit Card Participation Certificates, Series 1995-9
      6.65% Class B Credit Card Participation Certificates, Series 1995-9
      5.90% Class A Credit Card Participation Certificates, Series 1995-10
      6.05% Class B Credit Card Participation Certificates, Series 1995-10
  Floating Rate Class A Credit Card Participation Certificates, Series 1995-11
    Zero Coupon Class A Credit Card Participation Certificates, Series 1996-1
Zero Coupon Class B Credit Card Participation Certificates, Series 1996-1 
                       (collectively, the "Certificates"))

                (Exact name of registrant as specified in charter)


         UNITED STATES OF AMERICA                      46-0358360

    (State or other jurisdiction            (I.R.S. Employer Identification No.)
          of incorporation)     


      33-38312, 33-41054, 33-41055, 33-42235, 33-43575, 33-43576, 33-47657,
     33-48148, 33-52152, 33-62180, 33-77802, 33-84834, 33-97664 AND 33-99328

                            (Commission File Numbers)


         701 EAST 60TH STREET, NORTH                                  57117
        SIOUX FALLS, SOUTH DAKOTA                                    (Zip Code)
          (Address of principal
            executive offices)                                               

       Registrant's telephone number, including area code: (605) 331-2626


                                 NOT APPLICABLE

          (Former name or former address, if changed since last report)





                                                 [COVER PAGE 2 OF  2 PAGES]



<PAGE>


ITEM 5.  OTHER EVENTS.

         The  information  provided  below is  provided  in respect of  Citibank
Credit Card Master  Trust I. Certain  capitalized  terms used herein are used as
defined in the Glossary of Terms at the end of this Report.

LOSS AND DELINQUENCY EXPERIENCE

         The following tables set forth the loss and delinquency experience with
respect  to  payments  by  cardholders  for each of the  periods  shown  for the
Accounts.  With respect to the Loss Experience  table below,  loss experience is
shown on a cash  basis for  Principal  Receivables.  If accrued  Finance  Charge
Receivables which have been written off were included in losses in the following
table,  Net Losses would be higher as an absolute  number and as a percentage of
the average of Principal and Finance Charge  Receivables  outstanding during the
periods  indicated.  There  can be no  assurance  that the loss and  delinquency
experience  for the  Receivables in the future will be similar to the historical
experience set forth below with respect to the Accounts.
<TABLE>

                                                      LOSS EXPERIENCE FOR THE ACCOUNTS(1)
                                                             (DOLLARS IN THOUSANDS)

<CAPTION>
                                                                                                    YEAR ENDED DECEMBER 31,
                                                                        SIX MONTHS           --------------------------------------
                                                                           ENDED                                                 
                                                                       JUNE 30, 1996         1995           1994           1993
    ---------------------..............................................--------             ------           -------      --------
<S>                                                                       <C>                  <C>            <C>            <C> 

Average Principal Receivables Outstanding(2).....................     $31,101,096        $25,083,447     $18,066,914   $13,738,599

Net Losses(3)....................................................        $777,172           $956,261        $685,118      $688,392

Net Losses as a Percentage of Average Principal Receivables
  Outstanding(4).................................................           5.00%              3.81%           3.79%         5.01%
</TABLE>

- ---------------
(1) Losses consist of write-offs of Principal Receivables.
(2)  Average  Principal  Receivables  Outstanding  is the  average of  Principal
Receivables outstanding during the periods indicated.
(3) Net losses as a percentage of gross  charge-offs for the first six months of
    1996 were 92.23% and for each of the years ended December 31, 1995, 1994 and
    1993 were 88.49%,  86.14% and 88.30%,  respectively.  Gross  charge-offs are
    charge-offs  before  recoveries  and  do  not  include  the  amount  of  any
    reductions  in  Average  Principal  Receivables  Outstanding  due to  fraud,
    returned goods, customer disputes or certain other miscellaneous write-offs.
(4) The  percentage  for the six  months  ended June 30,  1996 is an  annualized
number.


<PAGE>
<TABLE>



                                              DELINQUENCIES AS A PERCENTAGE OF THE ACCOUNTS(1)(2)
                                                             (DOLLARS IN THOUSANDS)
<CAPTION>
                                                                                      AS OF DECEMBER 31,
                                                                                  --------------------------------------------------
                                           AS OF
                                       JUNE 30, 1996                  1995                 1994                        1993        
- ---------                                    ----------
NUMBER OF DAYS                DELINQUENT                   DELINQUENT            DELINQUENT                    DELINQUENT
DELINQUENT                     AMOUNT(1)   PERCENTAGE(2) AMOUNT(1)PERCENTAGE(2)  AMOUNT(1)  PERCENTAGE(2)   AMOUNT(1)  PERCENTAGE(2)
                            --------------  --------------------------------    --------------------------------------------------- 
<S>                              <C>     <C>            <C>           <C>            <C>            <C>

35-64 days.............   $636,432      2.02%         $699,878       2.75%         $439,224       2.40%          $360,189     2.58%
65-94 days.............    331,636      1.05           353,832       1.39           228,335       1.25            196,227     1.41
95 days or more........    566,219      1.79           558,613       2.20           360,774       1.97            331,334     2.37
 ..........................---------------------   ------------   ----------    ------------   --------       ------------  --------
 Total................. $1,534,287      4.86%       $1,612,323       6.34%       $1,028,333       5.62%          $887,750     6.36%

</TABLE>


(1)  The Delinquent  Amount includes both the Principal  Receivables and Finance
     Charge Receivables.
(2)  The  percentages  are the result of dividing the  Delinquent  Amount by the
     average of Principal and Finance Charge Receivables  outstanding during the
     periods indicated.



REVENUE EXPERIENCE


        The  revenues  for the  Accounts  from  finance  charges,  fees  paid by
cardholders  and interchange for the six months ended June 30, 1996 and for each
year of the  three-year  period  ended  December  31,  1995 are set forth in the
following table.
        The revenue  experience  in the  following  table is presented on a cash
basis before deduction for charge-offs.  Revenues from finance charges, fees and
interchange will be affected by numerous factors, including the periodic finance
charge on the receivables,  the amount of any annual  membership fee, other fees
paid by cardholders, the percentage of cardholders who pay off their balances in
full each month and do not incur  periodic  finance  charges on  purchases,  the
percentage of Accounts bearing finance charges at promotional  rates and changes
in the level of delinquencies on the Receivables.



<PAGE>
<TABLE>


                                                               REVENUE EXPERIENCE FOR THE ACCOUNTS
                                                                      (DOLLARS IN THOUSANDS)

<CAPTION>

                                                    SIX MONTHS           YEAR ENDED DECEMBER 31,
                                                       ENDED 
                                                   JUNE 30, 1996       1995         1994       1993

<S>                                                    <C>             <C>            <C>        <C> 
Finance Charges and Fees Paid (1)................     $2,832,497   $4,545,420     $3,397,756  $2,860,602
Average Revenue Yield (2)(3).....................         18.21%       18.11%      18.81%       20.82%

</TABLE>

(1)  Certain  amounts  included in Finance Charges and Fees Paid will be treated
     for purposes of the Pooling Agreement as Principal  Receivables rather than
     Finance  Charge  Receivables.  These  amounts  were less than 5% of Finance
     Charges and Fees Paid for each of the periods shown in the table.
(2)  Average  Revenue Yield is the result of dividing  Finance  Charges and Fees
     Paid by  Average  Principal  Receivables  Outstanding  during  the  periods
     indicated.
(3)  The  percentage  for the six months  ended June 30,  1996 is an  annualized
     number.

          The periodic  finance charge assessed on most of the premium  accounts
for purchases of  merchandise  and services and cash advances in the Accounts is
lower  than the  periodic  finance  charge  assessed  on most of the  nonpremium
accounts for such  purchases  and  advances.  The  revenues  related to periodic
finance  charges  and fees  (other  than  annual  fees)  depend in part upon the
collective preference of cardholders to use their credit cards as revolving debt
instruments for purchases and cash advances and to pay off account balances over
several  months as opposed to  convenience  use  (where the  cardholders  prefer
instead to pay off their entire balance each month,  thereby  avoiding  periodic
finance  charges on purchases)  and upon other  services of which the cardholder
chooses to avail himself and which are paid for by the use of the card. Fees for
these other  services will be treated for purposes of the Pooling  Agreement and
the Series  Supplement  as  Principal  Receivables  rather than  Finance  Charge
Receivables;  however, the Banks will be permitted to specify that any such fees
will be treated as Finance  Charge  Receivables.  Revenues  related to  periodic
finance  charges and fees also depend on the types of charges and fees  assessed
on the Accounts and on whether such Accounts are nonpremium or premium Accounts.
Accordingly, revenues will be affected by future changes in the types of charges
and  fees  assessed  on the  Accounts,  on  the  respective  percentages  of the
Receivables  balances of  nonpremium  and premium  Accounts  and in the types of
Additional  Accounts the  receivables for which are added to the Trust from time
to time.  Revenues  could be  adversely  affected 
<PAGE>
by future  changes in fees and
charges assessed by CBSD and other factors.

         CBSD  has  previously  reduced  the  finance  charges  and  reduced  or
eliminated  the annual fees  applicable  to, and  modified  some other terms of,
certain of the Accounts.  Effective  January 1, 1995, CBSD eliminated the annual
fees applicable to certain other Accounts, including certain of its affinity and
co-branded  card  products.  These  changes  have reduced the gross yield of the
Accounts.

CARDHOLDER MONTHLY PAYMENT RATES FOR THE ACCOUNTS

         Monthly payment rates on the Receivables may vary because,  among other
things,  cardholders may fail to make a required payment, may only make payments
as low as the  minimum  required  payment  or may make  payments  as high as the
entire  outstanding  balance.  Monthly payment rates on the Receivables may also
vary due to seasonal purchasing and payment habits of cardholders. The following
table sets forth the highest and lowest cardholder monthly payment rates for the
Accounts during any month in the periods shown and the average of the cardholder
monthly  payment  rates for all months  during the periods  shown,  in each case
calculated  as a percentage  of the total  beginning  account  balances for such
month.  Monthly payment rates reflected in the table include amounts which would
be deemed payments of Principal  Receivables and Finance Charge Receivables with
respect to the Accounts. In addition, the amount of outstanding  Receivables and
the rates of payments,  delinquencies,  charge-offs  and new  borrowings  on the
Accounts  depend on a variety  of factors  including  seasonal  variations,  the
availability of other sources of credit, general economic conditions,  tax laws,
consumer  spending and borrowing  patterns and the terms of the Accounts  (which
are subject to change by CBSD).



<PAGE>
<TABLE>


                                                                   CARDHOLDER MONTHLY PAYMENT RATES FOR THE ACCOUNTS
<CAPTION>

                                                              SIX MONTHS                 YEAR ENDED DECEMBER 31,
                                                                  ENDED         --------------------------------------
                                                              JUNE 30, 1996         1995          1994          1993
     --------------------.......................................................-------------   ------         -----
<S>                                                                <C>               <C>           <C>          <C> 

Lowest Month.................................................    18.41%           17.59%        18.21%        15.74%
Highest Month................................................    20.87%           20.92%        21.33%        21.97%
Average of the Months in the Period..........................    19.52%           19.09%        19.69%        18.22%

</TABLE>

         CBSD has  changed  certain  fees and other  terms of certain  Accounts,
including a decrease in the  required  minimum  monthly  payment.  CBSD does not
expect these changes to have any material  adverse effect on cardholder  monthly
payment rates for the Accounts.  Effective  January 1, 1995, CBSD eliminated the
annual fees applicable to certain  Accounts,  including  certain of its affinity
and co-branded card products. This change did not have a material adverse effect
on cardholder monthly payment rates for the Accounts.

THE RECEIVABLES


         The   Receivables   in  the  Accounts  as  of  July  7,  1996  included
$381,848,499  of Finance Charge  Receivables  and  $31,414,439,867  of Principal
Receivables  (which  amounts  include  overdue  Finance Charge  Receivables  and
overdue  Principal  Receivables).  As of July 7,  1996,  there  were  26,076,615
Accounts. The Accounts had an average Principal Receivable balance of $1,205 and
an average credit limit of $4,598.  The average total Receivable  balance in the
Accounts  as a  percentage  of the  average  credit  limit  with  respect to the
Accounts was 27%.  Approximately  75% of the Accounts  were opened prior to June
1994.  Approximately 13.32%,  11.11%, 6.68% and 5.56% of the Accounts related to
cardholders having billing addresses in California, New York, Texas and Florida,
respectively.  Not more than 5% of the Accounts  related to  cardholders  having
billing addresses in any other single state.

         The following  tables  summarize the Accounts by various criteria as of
July 7, 1996.  References to "Receivables  Outstanding" in the following  tables
include both Finance Charge Receivables and Principal  Receivables.  Because the
composition  of the  Accounts  will change in the future,  these  tables are not
necessarily indicative of the future composition of the Accounts.
<PAGE>

<TABLE>

                                                            COMPOSITION OF ACCOUNTS BY ACCOUNT BALANCE
<CAPTION>

                                                                        PERCENTAGE                          PERCENTAGE
                                                                         OF TOTAL                           OF TOTAL
                                                       NUMBER OF         NUMBER OF     RECEIVABLES          RECEIVABLES
                       ACCOUNT BALANCE                 ACCOUNTS          ACCOUNTS      OUTSTANDING          OUTSTANDING
      -------------------------------...........................-----------------------------------          -----------
<S>                                                       <C>            <C>              <C>                  <C>  
Credit Balance(1)....................................  1,106,860        4.24%         $(46,001,479)          (0.14)%
No Balance(2)........................................  9,621,100       36.91                      0           0.00
Less than or equal to $500.00........................  3,961,596       15.19            814,517,196           2.56
$500.01 to $1,000.00.................................  2,386,547        9.15          1,768,516,649           5.56
$1,000.01 to $2,000.00...............................  3,437,996       13.18          5,058,180,181          15.90
$2,000.01 to $3,000.00...............................  1,976,329        7.58          4,880,317,075          15.35
$3,000.01 to $4,000.00...............................  1,189,929        4.56          4,120,551,416          12.96
$4,000.01 to $5,000.00...............................    885,411        3.40          3,998,776,611          12.58
$5,000.01 to $6,000.00...............................    525,862        2.02          2,875,621,879           9.04
$6,000.01 to $7,000.00...............................    329,596        1.26          2,133,093,066           6.71
$7,000.01 to $8,000.00...............................    224,754        0.86          1,679,442,142           5.28
$8,000.01 to $9,000.00...............................    146,908        0.56          1,245,569,000           3.92
$9,000.01 to $10,000.00..............................    110,924        0.43          1,052,168,944           3.31
Over $10,000.00......................................    172,803        0.66          2,215,535,686           6.97
                                                 ---------------   ----------  --------------------    -----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%

</TABLE>
(1)  Credit balances are a result of cardholder  payments and credit adjustments
     applied in excess of an Account's unpaid balance.  Accounts which currently
     have a credit  balance are included  because  Receivables  may be generated
     with respect thereto in the future.
(2)  Accounts which currently have no balance are included  because  Receivables
     may be generated with respect thereto in the future.
<PAGE>



<PAGE>
<TABLE>


                                                             COMPOSITION OF ACCOUNTS BY CREDIT LIMIT
<CAPTION>

                                                                                    PERCENTAGE             PERCENTAGE
                                                                                     OF TOTAL               OF TOTAL
                                                       NUMBER OF       NUMBER OF    RECEIVABLES            RECEIVABLES
              CREDIT LIMIT                             ACCOUNTS        ACCOUNTS     OUTSTANDING            OUTSTANDING
      -------------------------------               ------------     -----------    ---------------        ------------
<S>                                                      <C>             <C>              <C>                  <C> 
Less than or equal to $500.00........................  1,589,122        6.09%          $112,788,692           0.35%
$500.01 to $1,000.00.................................  1,929,700        7.40            651,149,675           2.05
$1,000.01 to $2,000.00...............................  4,758,510       18.25          3,193,927,633          10.04
$2,000.01 to $3,000.00...............................  3,453,464       13.24          3,172,223,012           9.98
$3,000.01 to $4,000.00...............................  2,452,233        9.40          2,792,216,961           8.78
$4,000.01 to $5,000.00...............................  2,930,898       11.24          3,950,719,668          12.43
Over $5,000.00.......................................  8,962,688       34.38         17,923,262,725          56.37
                                                  --------------   ----------  --------------------      ----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%

</TABLE>
<TABLE>

                                                                      COMPOSITION OF ACCOUNTS BY PAYMENT STATUS
<CAPTION>

                                                                                    PERCENTAGE             PERCENTAGE
                                                                                     OF TOTAL               OF TOTAL
                                                     NUMBER OF         NUMBER OF     RECEIVABLES           RECEIVABLES
                       PAYMENT STATUS                ACCOUNTS          ACCOUNTS      OUTSTANDING           OUTSTANDING
      -------------------------------         .   --------------    -----------------------------------    -----------
<S>                                                    <C>               <C>              <C>                   <C>      
Current(1)........................................... 24,490,055       93.93%       $28,191,456,199          88.67%
Up to 34 days delinquent.............................    944,604        3.62          2,070,545,724           6.51
35 to 64 days delinquent.............................    302,203        1.16            636,431,646           2.00
65 to 94 days delinquent.............................    133,897        0.51            331,635,979           1.04
95 to 124 days delinquent............................     87,057        0.33            229,524,421           0.72
125 to 154 days delinquent...........................     65,924        0.25            184,754,628           0.58
155 to 184 days delinquent...........................     52,875        0.20            151,939,769           0.48
                                                  --------------  ----------   --------------------     -----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%

</TABLE>

(1)  Includes  Accounts on which the minimum  payment has not yet been  received
     prior to the second  billing  date  following  the  issuance of the related
     bill.
<TABLE>

                                                                  COMPOSITION OF ACCOUNTS BY AGE
<CAPTION>

                                                                                      PERCENTAGE            PERCENTAGE
                                                                                       OF TOTAL              OF TOTAL
                                                        NUMBER OF        NUMBER OF    RECEIVABLES           RECEIVABLES
                  AGE                                   ACCOUNTS          ACCOUNTS    OUTSTANDING           OUTSTANDING
                -------                              -----------------------------    -----------           -----------
<S>                                                        <C>           <C>              <C>                   <C> 

Less than or equal to 6 months.......................          0        0.00%$                    0           0.00%
Over 6 months to 12 months...........................  1,501,973        5.76          1,842,323,397           5.79
Over 12 months to 24 months..........................  5,002,215       19.18          5,473,873,538          17.22
Over 24 months to 36 months..........................  3,092,316       11.86          3,329,111,713          10.47
Over 36 months to 48 months..........................  1,725,612        6.62          2,053,036,943           6.46
Over 48 months....................................... 14,754,499       56.58         19,097,942,775          60.06
                                                 ---------------  ----------   --------------------     -----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%

</TABLE>



<PAGE>


CERTAIN LEGAL MATTERS
    Since October  1991, a number of lawsuits have been filed in several  states
against  CBSD  and  other   out-of-state   credit  card   issuing   banks  (both
federally-insured  state-chartered banks and  federally-insured  national banks)
which  challenge  various  fees and charges  (such as late fees,  over-the-limit
fees,  returned  check  charges and annual  membership  fees)  assessed  against
residents of the states in which such suits were filed, based on restrictions or
prohibitions   under  such  states'  laws  alleged  to  be   applicable  to  the
out-of-state  credit card issuers.  On June 3, 1996 in Smiley v. Citibank (South
Dakota), N.A., the Supreme Court of the United States, in a unanimous opinion in
favor of CBSD,  ruled that the  determination of the Comptroller of the Currency
defining the term  "interest" for purposes of the National Bank Act was entitled
to judicial deference.  As a result of this decision,  the Banks expect that all
such  pending  cases  against CBSD will be resolved in favor of CBSD in the near
future.



<PAGE>

                                    GLOSSARY OF TERMS

"Accounts" means the portfolio of revolving credit card accounts established and
supplemented in accordance with the Pooling Agreement.

"Additional  Accounts"  consist  of newly  originated  Eligible  Accounts  to be
included as Accounts and Accounts relating to any Lump Sum Additions.

"Banks" means Citibank (South Dakota), N.A., a national banking association, and
Citibank (Nevada), National Association, a national banking association.

"CBSD" means Citibank (South Dakota), N.A.

"Eligible  Accounts"  An  "Eligible  Account"  is defined to mean a credit  card
account  owned by CBSD which,  as of the Trust  Cut-Off  Date with respect to an
Initial  Account  or as of  the  additional  cut-off  date  with  respect  to an
Additional  Account:  (a) is in existence and maintained by CBSD; (b) is payable
in  United  States  dollars;  (c) in the  case of the  Initial  Accounts,  has a
cardholder  who has provided,  as his most recent  billing  address,  an address
located in the United States or its  territories  or  possessions  or a military
address;  (d)  has a  cardholder  who  has not  been  identified  by CBSD in its
computer  files as being  involved  in a  voluntary  or  involuntary  bankruptcy
proceeding;  (e) has not been identified as an Account with respect to which the
related  card has been lost or  stolen;  (f) has not been sold or pledged to any
other party;  (g) does not have  receivables  which have been sold or pledged to
any  other  party;  and (h) in the case of the  Initial  Accounts,  is a VISA or
MasterCard revolving credit card account.

"Finance Charge  Receivables"  consist of all periodic finance  charges,  annual
membership  fees,  cash  advance  fees and late  charges on amounts  charged for
merchandise  and services and certain  other fees  designated  by the Banks.  In
addition,  certain Interchange  attributed to cardholder charges for merchandise
and services in the Accounts will be treated as Finance Charge Receivables.

"Interchange"  means  interchange fees payable to Citibank (South Dakota) or any
additional  seller,  in its  capacity  as  credit  card  issuer,  through  VISA,
Mastercard or any other similar entity or organization with respect to any other
type of revolving credit card accounts included as Accounts (except as otherwise
provided  in the  initial  Assignment  with  respect  to any such  other type of
Accounts), in connection with cardholder charges for goods and services.

"Lump Sum Addition" means the designation of additional  Eligible Accounts to be
included  as  Accounts  pursuant  to  Section  2.09(a)  or (b)  of  the  Pooling
Agreement. 

"Pooling  Agreement"  means the Pooling and Servicing  Agreement dated as of May
29, 1991 among the Banks and Yasuda Bank and Trust Company (U.S.A.),  a New York
trust company, including all amendments thereto.

"Principal  Receivables"  consist  of all  amounts  charged by  cardholders  for
merchandise and services,  amounts  advanced to cardholders as cash advances and
all other fees billed to cardholders on the Accounts.

"Receivables"  means all  amounts  shown on the  Servicer's  records  as amounts
payable by the Person or Persons  obligated to make payments with respect to the
Accounts.

"Receivables Outstanding" as defined on page 7.

"Series  Supplement"  means  any  series  supplement  to the  Pooling  Agreement
executed  in  connection  with the  original  issuance  of a series of  Investor
Certificates pursuant to Section 6.03 of the Pooling Agreement.

"Trust" means Citibank Credit Card Master Trust I.

"Trustee"  means  Yasuda  Bank and  Trust  Company  (U.S.A.),  a New York  trust
company.


<PAGE>



                                     SIGNATURES

              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.

                                                 CITIBANK (SOUTH DAKOTA), N.A.,
                                                 as Servicer
                                                 (Registrant)


                                                 By: \s\ Eugene D. Rowenhorst
                                                        Eugene D. Rowenhorst
                                                        Senior Vice President


Dated:    July 17, 1996
[{"type": "8-K", "sequence": "1", "description": "CITIBANK CREDIT CARD MASTER TRUST I", "secsgml_size_bytes": 33558}]
{"company-data": {"conformed-name": "CITIBANK SOUTH DAKOTA N A", "cik": "0000839947", "assigned-sic": "6189", "irs-number": "460358360", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17797", "film-number": "96596901"}, "business-address": {"street1": "701 E 60TH ST N", "city": "SIOUX FALLS", "state": "SD", "zip": "57117", "phone": "6053312626"}, "mail-address": {"street1": "CITIBANK N A LEGAL AFFAIRS OFFICE", "street2": "425 PARK AVENUE 2ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10043"}}
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): July 19, 1996

                          CITIBANK (SOUTH DAKOTA), N.A.
                                  ON BEHALF OF
                       CITIBANK CREDIT CARD MASTER TRUST I
          (Issuer in respect of the Citibank Credit Card Master Trust I
      8 1/2% Class A Credit Card Participation Certificates, Series 1991-1
        9% Class B Credit Card Participation Certificates, Series 1991-1
        8 % Class A Credit Card Participation Certificates, Series 1991-3
      9 1/4% Class B Credit Card Participation Certificates, Series 1991-3
        8% Class A Credit Card Participation Certificates, Series 1991-4
      8 1/4% Class B Credit Card Participation Certificates, Series 1991-4
      7.875% Class A Credit Card Participation Certificates, Series 1991-6
      8.350% Class B Credit Card Participation Certificates, Series 1991-6
      6 1/4% Class B Credit Card Participation Certificates, Series 1992-1
  Floating Rate Class A Credit Card Participation Certificates, Series 1992-3
  Floating Rate Class B Credit Card Participation Certificates, Series 1992-3
      5 1/2% Class B Credit Card Participation Certificates, Series 1993-1
      5.95% Class A Credit Card Participation Certificates, Series 1993-2
      6.15% Class B Credit Card Participation Certificates, Series 1993-2
       5.50% Class A Credit Card Participation Certificates, Series 1993-3
      5.70% Class B Credit Card Participation Certificates, Series 1993-3
      4.65% Class A Credit Card Participation Certificates, Series 1994-1
       4.85% Class B Credit Card Participation Certificates, Series 1994-1
      7.25% Class A Credit Card Participation Certificates, Series 1994-2
      7.50% Class B Credit Card Participation Certificates, Series 1994-2
       6.80% Class A Credit Card Participation Certificates, Series 1994-3
      7.00% Class B Credit Card Participation Certificates, Series 1994-3
      8.25% Class A Credit Card Participation Certificates, Series 1994-4
       8.25% Class A Credit Card Participation Certificates, Series 1995-1
      8.45% Class B Credit Card Participation Certificates, Series 1995-1

                                                  [COVER PAGE 1 OF  2 PAGES]
8 % Class A Credit Card Participation Certificates, Series 1995-2
       7.85% Class A Credit Card Participation Certificates, Series 1995-3
   Floating Rate Class A Credit Card Participation Certificates, Series 1995-4
       7.65% Class B Credit Card Participation Certificates, Series 1995-4
   Floating Rate Class A Credit Card Participation Certificates, Series 1995-5
       6.75% Class A Credit Card Participation Certificates, Series 1995-6
      6.90% Class B Credit Card Participation Certificates, Series 1995-6
      6.70% Class A Credit Card Participation Certificates, Series 1995-8
       6.85% Class B Credit Card Participation Certificates, Series 1995-8
      6.55% Class A Credit Card Participation Certificates, Series 1995-9
      6.65% Class B Credit Card Participation Certificates, Series 1995-9
      5.90% Class A Credit Card Participation Certificates, Series 1995-10
      6.05% Class B Credit Card Participation Certificates, Series 1995-10
  Floating Rate Class A Credit Card Participation Certificates, Series 1995-11
    Zero Coupon Class A Credit Card Participation Certificates, Series 1996-1
Zero Coupon Class B Credit Card Participation Certificates, Series 1996-1 
                       (collectively, the "Certificates"))

                (Exact name of registrant as specified in charter)

         UNITED STATES OF AMERICA                      46-0358360

    (State or other jurisdiction            (I.R.S. Employer Identification No.)
          of incorporation)     

      33-38312, 33-41054, 33-41055, 33-42235, 33-43575, 33-43576, 33-47657,
     33-48148, 33-52152, 33-62180, 33-77802, 33-84834, 33-97664 AND 33-99328

                            (Commission File Numbers)

         701 EAST 60TH STREET, NORTH                                  57117
        SIOUX FALLS, SOUTH DAKOTA                                    (Zip Code)
          (Address of principal
            executive offices)                                               

       Registrant's telephone number, including area code: (605) 331-2626

                                 NOT APPLICABLE

          (Former name or former address, if changed since last report)

                                                 [COVER PAGE 2 OF  2 PAGES]
ITEM 5.  OTHER EVENTS.

         The  information  provided  below is  provided  in respect of  Citibank
Credit Card Master  Trust I. Certain  capitalized  terms used herein are used as
defined in the Glossary of Terms at the end of this Report.

LOSS AND DELINQUENCY EXPERIENCE

         The following tables set forth the loss and delinquency experience with
respect  to  payments  by  cardholders  for each of the  periods  shown  for the
Accounts.  With respect to the Loss Experience  table below,  loss experience is
shown on a cash  basis for  Principal  Receivables.  If accrued  Finance  Charge
Receivables which have been written off were included in losses in the following
table,  Net Losses would be higher as an absolute  number and as a percentage of
the average of Principal and Finance Charge  Receivables  outstanding during the
periods  indicated.  There  can be no  assurance  that the loss and  delinquency
experience  for the  Receivables in the future will be similar to the historical
experience set forth below with respect to the Accounts.

                                                      LOSS EXPERIENCE FOR THE ACCOUNTS(1)
                                                             (DOLLARS IN THOUSANDS)
YEAR ENDED DECEMBER 31,
                                                                        SIX MONTHS           --------------------------------------
                                                                           ENDED                                                 
                                                                       JUNE 30, 1996         1995           1994           1993
    ---------------------..............................................--------             ------           -------      --------
Average Principal Receivables Outstanding(2).....................     $31,101,096        $25,083,447     $18,066,914   $13,738,599

Net Losses(3)....................................................        $777,172           $956,261        $685,118      $688,392

Net Losses as a Percentage of Average Principal Receivables
  Outstanding(4).................................................           5.00%              3.81%           3.79%         5.01%
- ---------------
(1) Losses consist of write-offs of Principal Receivables.
(2)  Average  Principal  Receivables  Outstanding  is the  average of  Principal
Receivables outstanding during the periods indicated.
(3) Net losses as a percentage of gross  charge-offs for the first six months of
    1996 were 92.23% and for each of the years ended December 31, 1995, 1994 and
    1993 were 88.49%,  86.14% and 88.30%,  respectively.  Gross  charge-offs are
    charge-offs  before  recoveries  and  do  not  include  the  amount  of  any
    reductions  in  Average  Principal  Receivables  Outstanding  due to  fraud,
    returned goods, customer disputes or certain other miscellaneous write-offs.
(4) The  percentage  for the six  months  ended June 30,  1996 is an  annualized
number.
DELINQUENCIES AS A PERCENTAGE OF THE ACCOUNTS(1)(2)
                                                             (DOLLARS IN THOUSANDS)
AS OF DECEMBER 31,
                                                                                  --------------------------------------------------
                                           AS OF
                                       JUNE 30, 1996                  1995                 1994                        1993        
- ---------                                    ----------
NUMBER OF DAYS                DELINQUENT                   DELINQUENT            DELINQUENT                    DELINQUENT
DELINQUENT                     AMOUNT(1)   PERCENTAGE(2) AMOUNT(1)PERCENTAGE(2)  AMOUNT(1)  PERCENTAGE(2)   AMOUNT(1)  PERCENTAGE(2)
                            --------------  --------------------------------    ---------------------------------------------------
35-64 days.............   $636,432      2.02%         $699,878       2.75%         $439,224       2.40%          $360,189     2.58%
65-94 days.............    331,636      1.05           353,832       1.39           228,335       1.25            196,227     1.41
95 days or more........    566,219      1.79           558,613       2.20           360,774       1.97            331,334     2.37
 ..........................---------------------   ------------   ----------    ------------   --------       ------------  --------
 Total................. $1,534,287      4.86%       $1,612,323       6.34%       $1,028,333       5.62%          $887,750     6.36%
(1)  The Delinquent  Amount includes both the Principal  Receivables and Finance
     Charge Receivables.
(2)  The  percentages  are the result of dividing the  Delinquent  Amount by the
     average of Principal and Finance Charge Receivables  outstanding during the
     periods indicated.

REVENUE EXPERIENCE

        The  revenues  for the  Accounts  from  finance  charges,  fees  paid by
cardholders  and interchange for the six months ended June 30, 1996 and for each
year of the  three-year  period  ended  December  31,  1995 are set forth in the
following table.
        The revenue  experience  in the  following  table is presented on a cash
basis before deduction for charge-offs.  Revenues from finance charges, fees and
interchange will be affected by numerous factors, including the periodic finance
charge on the receivables,  the amount of any annual  membership fee, other fees
paid by cardholders, the percentage of cardholders who pay off their balances in
full each month and do not incur  periodic  finance  charges on  purchases,  the
percentage of Accounts bearing finance charges at promotional  rates and changes
in the level of delinquencies on the Receivables.
REVENUE EXPERIENCE FOR THE ACCOUNTS
                                                                      (DOLLARS IN THOUSANDS)
SIX MONTHS           YEAR ENDED DECEMBER 31,
                                                       ENDED 
                                                   JUNE 30, 1996       1995         1994       1993
Finance Charges and Fees Paid (1)................     $2,832,497   $4,545,420     $3,397,756  $2,860,602
Average Revenue Yield (2)(3).....................         18.21%       18.11%      18.81%       20.82%
(1)  Certain  amounts  included in Finance Charges and Fees Paid will be treated
     for purposes of the Pooling Agreement as Principal  Receivables rather than
     Finance  Charge  Receivables.  These  amounts  were less than 5% of Finance
     Charges and Fees Paid for each of the periods shown in the table.
(2)  Average  Revenue Yield is the result of dividing  Finance  Charges and Fees
     Paid by  Average  Principal  Receivables  Outstanding  during  the  periods
     indicated.
(3)  The  percentage  for the six months  ended June 30,  1996 is an  annualized
     number.

          The periodic  finance charge assessed on most of the premium  accounts
for purchases of  merchandise  and services and cash advances in the Accounts is
lower  than the  periodic  finance  charge  assessed  on most of the  nonpremium
accounts for such  purchases  and  advances.  The  revenues  related to periodic
finance  charges  and fees  (other  than  annual  fees)  depend in part upon the
collective preference of cardholders to use their credit cards as revolving debt
instruments for purchases and cash advances and to pay off account balances over
several  months as opposed to  convenience  use  (where the  cardholders  prefer
instead to pay off their entire balance each month,  thereby  avoiding  periodic
finance  charges on purchases)  and upon other  services of which the cardholder
chooses to avail himself and which are paid for by the use of the card. Fees for
these other  services will be treated for purposes of the Pooling  Agreement and
the Series  Supplement  as  Principal  Receivables  rather than  Finance  Charge
Receivables;  however, the Banks will be permitted to specify that any such fees
will be treated as Finance  Charge  Receivables.  Revenues  related to  periodic
finance  charges and fees also depend on the types of charges and fees  assessed
on the Accounts and on whether such Accounts are nonpremium or premium Accounts.
Accordingly, revenues will be affected by future changes in the types of charges
and  fees  assessed  on the  Accounts,  on  the  respective  percentages  of the
Receivables  balances of  nonpremium  and premium  Accounts  and in the types of
Additional  Accounts the  receivables for which are added to the Trust from time
to time.  Revenues  could be  adversely  affected
by future  changes in fees and
charges assessed by CBSD and other factors.

         CBSD  has  previously  reduced  the  finance  charges  and  reduced  or
eliminated  the annual fees  applicable  to, and  modified  some other terms of,
certain of the Accounts.  Effective  January 1, 1995, CBSD eliminated the annual
fees applicable to certain other Accounts, including certain of its affinity and
co-branded  card  products.  These  changes  have reduced the gross yield of the
Accounts.

CARDHOLDER MONTHLY PAYMENT RATES FOR THE ACCOUNTS

         Monthly payment rates on the Receivables may vary because,  among other
things,  cardholders may fail to make a required payment, may only make payments
as low as the  minimum  required  payment  or may make  payments  as high as the
entire  outstanding  balance.  Monthly payment rates on the Receivables may also
vary due to seasonal purchasing and payment habits of cardholders. The following
table sets forth the highest and lowest cardholder monthly payment rates for the
Accounts during any month in the periods shown and the average of the cardholder
monthly  payment  rates for all months  during the periods  shown,  in each case
calculated  as a percentage  of the total  beginning  account  balances for such
month.  Monthly payment rates reflected in the table include amounts which would
be deemed payments of Principal  Receivables and Finance Charge Receivables with
respect to the Accounts. In addition, the amount of outstanding  Receivables and
the rates of payments,  delinquencies,  charge-offs  and new  borrowings  on the
Accounts  depend on a variety  of factors  including  seasonal  variations,  the
availability of other sources of credit, general economic conditions,  tax laws,
consumer  spending and borrowing  patterns and the terms of the Accounts  (which
are subject to change by CBSD).
CARDHOLDER MONTHLY PAYMENT RATES FOR THE ACCOUNTS
SIX MONTHS                 YEAR ENDED DECEMBER 31,
                                                                  ENDED         --------------------------------------
                                                              JUNE 30, 1996         1995          1994          1993
     --------------------.......................................................-------------   ------         -----
Lowest Month.................................................    18.41%           17.59%        18.21%        15.74%
Highest Month................................................    20.87%           20.92%        21.33%        21.97%
Average of the Months in the Period..........................    19.52%           19.09%        19.69%        18.22%
CBSD has  changed  certain  fees and other  terms of certain  Accounts,
including a decrease in the  required  minimum  monthly  payment.  CBSD does not
expect these changes to have any material  adverse effect on cardholder  monthly
payment rates for the Accounts.  Effective  January 1, 1995, CBSD eliminated the
annual fees applicable to certain  Accounts,  including  certain of its affinity
and co-branded card products. This change did not have a material adverse effect
on cardholder monthly payment rates for the Accounts.

THE RECEIVABLES

         The   Receivables   in  the  Accounts  as  of  July  7,  1996  included
$381,848,499  of Finance Charge  Receivables  and  $31,414,439,867  of Principal
Receivables  (which  amounts  include  overdue  Finance Charge  Receivables  and
overdue  Principal  Receivables).  As of July 7,  1996,  there  were  26,076,615
Accounts. The Accounts had an average Principal Receivable balance of $1,205 and
an average credit limit of $4,598.  The average total Receivable  balance in the
Accounts  as a  percentage  of the  average  credit  limit  with  respect to the
Accounts was 27%.  Approximately  75% of the Accounts  were opened prior to June
1994.  Approximately 13.32%,  11.11%, 6.68% and 5.56% of the Accounts related to
cardholders having billing addresses in California, New York, Texas and Florida,
respectively.  Not more than 5% of the Accounts  related to  cardholders  having
billing addresses in any other single state.

         The following  tables  summarize the Accounts by various criteria as of
July 7, 1996.  References to "Receivables  Outstanding" in the following  tables
include both Finance Charge Receivables and Principal  Receivables.  Because the
composition  of the  Accounts  will change in the future,  these  tables are not
necessarily indicative of the future composition of the Accounts.
COMPOSITION OF ACCOUNTS BY ACCOUNT BALANCE
PERCENTAGE                          PERCENTAGE
                                                                         OF TOTAL                           OF TOTAL
                                                       NUMBER OF         NUMBER OF     RECEIVABLES          RECEIVABLES
                       ACCOUNT BALANCE                 ACCOUNTS          ACCOUNTS      OUTSTANDING          OUTSTANDING
      -------------------------------...........................-----------------------------------          -----------
Credit Balance(1)....................................  1,106,860        4.24%         $(46,001,479)          (0.14)%
No Balance(2)........................................  9,621,100       36.91                      0           0.00
Less than or equal to $500.00........................  3,961,596       15.19            814,517,196           2.56
$500.01 to $1,000.00.................................  2,386,547        9.15          1,768,516,649           5.56
$1,000.01 to $2,000.00...............................  3,437,996       13.18          5,058,180,181          15.90
$2,000.01 to $3,000.00...............................  1,976,329        7.58          4,880,317,075          15.35
$3,000.01 to $4,000.00...............................  1,189,929        4.56          4,120,551,416          12.96
$4,000.01 to $5,000.00...............................    885,411        3.40          3,998,776,611          12.58
$5,000.01 to $6,000.00...............................    525,862        2.02          2,875,621,879           9.04
$6,000.01 to $7,000.00...............................    329,596        1.26          2,133,093,066           6.71
$7,000.01 to $8,000.00...............................    224,754        0.86          1,679,442,142           5.28
$8,000.01 to $9,000.00...............................    146,908        0.56          1,245,569,000           3.92
$9,000.01 to $10,000.00..............................    110,924        0.43          1,052,168,944           3.31
Over $10,000.00......................................    172,803        0.66          2,215,535,686           6.97
                                                 ---------------   ----------  --------------------    -----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%
(1)  Credit balances are a result of cardholder  payments and credit adjustments
     applied in excess of an Account's unpaid balance.  Accounts which currently
     have a credit  balance are included  because  Receivables  may be generated
     with respect thereto in the future.
(2)  Accounts which currently have no balance are included  because  Receivables
     may be generated with respect thereto in the future.
COMPOSITION OF ACCOUNTS BY CREDIT LIMIT
PERCENTAGE             PERCENTAGE
                                                                                     OF TOTAL               OF TOTAL
                                                       NUMBER OF       NUMBER OF    RECEIVABLES            RECEIVABLES
              CREDIT LIMIT                             ACCOUNTS        ACCOUNTS     OUTSTANDING            OUTSTANDING
      -------------------------------               ------------     -----------    ---------------        ------------
Less than or equal to $500.00........................  1,589,122        6.09%          $112,788,692           0.35%
$500.01 to $1,000.00.................................  1,929,700        7.40            651,149,675           2.05
$1,000.01 to $2,000.00...............................  4,758,510       18.25          3,193,927,633          10.04
$2,000.01 to $3,000.00...............................  3,453,464       13.24          3,172,223,012           9.98
$3,000.01 to $4,000.00...............................  2,452,233        9.40          2,792,216,961           8.78
$4,000.01 to $5,000.00...............................  2,930,898       11.24          3,950,719,668          12.43
Over $5,000.00.......................................  8,962,688       34.38         17,923,262,725          56.37
                                                  --------------   ----------  --------------------      ----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%
COMPOSITION OF ACCOUNTS BY PAYMENT STATUS
PERCENTAGE             PERCENTAGE
                                                                                     OF TOTAL               OF TOTAL
                                                     NUMBER OF         NUMBER OF     RECEIVABLES           RECEIVABLES
                       PAYMENT STATUS                ACCOUNTS          ACCOUNTS      OUTSTANDING           OUTSTANDING
      -------------------------------         .   --------------    -----------------------------------    -----------
Current(1)........................................... 24,490,055       93.93%       $28,191,456,199          88.67%
Up to 34 days delinquent.............................    944,604        3.62          2,070,545,724           6.51
35 to 64 days delinquent.............................    302,203        1.16            636,431,646           2.00
65 to 94 days delinquent.............................    133,897        0.51            331,635,979           1.04
95 to 124 days delinquent............................     87,057        0.33            229,524,421           0.72
125 to 154 days delinquent...........................     65,924        0.25            184,754,628           0.58
155 to 184 days delinquent...........................     52,875        0.20            151,939,769           0.48
                                                  --------------  ----------   --------------------     -----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%
(1)  Includes  Accounts on which the minimum  payment has not yet been  received
     prior to the second  billing  date  following  the  issuance of the related
     bill.

                                                                  COMPOSITION OF ACCOUNTS BY AGE
PERCENTAGE            PERCENTAGE
                                                                                       OF TOTAL              OF TOTAL
                                                        NUMBER OF        NUMBER OF    RECEIVABLES           RECEIVABLES
                  AGE                                   ACCOUNTS          ACCOUNTS    OUTSTANDING           OUTSTANDING
                -------                              -----------------------------    -----------           -----------
Less than or equal to 6 months.......................          0        0.00%$                    0           0.00%
Over 6 months to 12 months...........................  1,501,973        5.76          1,842,323,397           5.79
Over 12 months to 24 months..........................  5,002,215       19.18          5,473,873,538          17.22
Over 24 months to 36 months..........................  3,092,316       11.86          3,329,111,713          10.47
Over 36 months to 48 months..........................  1,725,612        6.62          2,053,036,943           6.46
Over 48 months....................................... 14,754,499       56.58         19,097,942,775          60.06
                                                 ---------------  ----------   --------------------     -----------
     Total........................................... 26,076,615      100.00%       $31,796,288,366         100.00%
CERTAIN LEGAL MATTERS
    Since October  1991, a number of lawsuits have been filed in several  states
against  CBSD  and  other   out-of-state   credit  card   issuing   banks  (both
federally-insured  state-chartered banks and  federally-insured  national banks)
which  challenge  various  fees and charges  (such as late fees,  over-the-limit
fees,  returned  check  charges and annual  membership  fees)  assessed  against
residents of the states in which such suits were filed, based on restrictions or
prohibitions   under  such  states'  laws  alleged  to  be   applicable  to  the
out-of-state  credit card issuers.  On June 3, 1996 in Smiley v. Citibank (South
Dakota), N.A., the Supreme Court of the United States, in a unanimous opinion in
favor of CBSD,  ruled that the  determination of the Comptroller of the Currency
defining the term  "interest" for purposes of the National Bank Act was entitled
to judicial deference.  As a result of this decision,  the Banks expect that all
such  pending  cases  against CBSD will be resolved in favor of CBSD in the near
future.
GLOSSARY OF TERMS

"Accounts" means the portfolio of revolving credit card accounts established and
supplemented in accordance with the Pooling Agreement.

"Additional  Accounts"  consist  of newly  originated  Eligible  Accounts  to be
included as Accounts and Accounts relating to any Lump Sum Additions.

"Banks" means Citibank (South Dakota), N.A., a national banking association, and
Citibank (Nevada), National Association, a national banking association.

"CBSD" means Citibank (South Dakota), N.A.

"Eligible  Accounts"  An  "Eligible  Account"  is defined to mean a credit  card
account  owned by CBSD which,  as of the Trust  Cut-Off  Date with respect to an
Initial  Account  or as of  the  additional  cut-off  date  with  respect  to an
Additional  Account:  (a) is in existence and maintained by CBSD; (b) is payable
in  United  States  dollars;  (c) in the  case of the  Initial  Accounts,  has a
cardholder  who has provided,  as his most recent  billing  address,  an address
located in the United States or its  territories  or  possessions  or a military
address;  (d)  has a  cardholder  who  has not  been  identified  by CBSD in its
computer  files as being  involved  in a  voluntary  or  involuntary  bankruptcy
proceeding;  (e) has not been identified as an Account with respect to which the
related  card has been lost or  stolen;  (f) has not been sold or pledged to any
other party;  (g) does not have  receivables  which have been sold or pledged to
any  other  party;  and (h) in the case of the  Initial  Accounts,  is a VISA or
MasterCard revolving credit card account.

"Finance Charge  Receivables"  consist of all periodic finance  charges,  annual
membership  fees,  cash  advance  fees and late  charges on amounts  charged for
merchandise  and services and certain  other fees  designated  by the Banks.  In
addition,  certain Interchange  attributed to cardholder charges for merchandise
and services in the Accounts will be treated as Finance Charge Receivables.

"Interchange"  means  interchange fees payable to Citibank (South Dakota) or any
additional  seller,  in its  capacity  as  credit  card  issuer,  through  VISA,
Mastercard or any other similar entity or organization with respect to any other
type of revolving credit card accounts included as Accounts (except as otherwise
provided  in the  initial  Assignment  with  respect  to any such  other type of
Accounts), in connection with cardholder charges for goods and services.

"Lump Sum Addition" means the designation of additional  Eligible Accounts to be
included  as  Accounts  pursuant  to  Section  2.09(a)  or (b)  of  the  Pooling
Agreement. 

"Pooling  Agreement"  means the Pooling and Servicing  Agreement dated as of May
29, 1991 among the Banks and Yasuda Bank and Trust Company (U.S.A.),  a New York
trust company, including all amendments thereto.

"Principal  Receivables"  consist  of all  amounts  charged by  cardholders  for
merchandise and services,  amounts  advanced to cardholders as cash advances and
all other fees billed to cardholders on the Accounts.

"Receivables"  means all  amounts  shown on the  Servicer's  records  as amounts
payable by the Person or Persons  obligated to make payments with respect to the
Accounts.

"Receivables Outstanding" as defined on page 7.

"Series  Supplement"  means  any  series  supplement  to the  Pooling  Agreement
executed  in  connection  with the  original  issuance  of a series of  Investor
Certificates pursuant to Section 6.03 of the Pooling Agreement.

"Trust" means Citibank Credit Card Master Trust I.

"Trustee"  means  Yasuda  Bank and  Trust  Company  (U.S.A.),  a New York  trust
company.
SIGNATURES

              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.

                                                 CITIBANK (SOUTH DAKOTA), N.A.,
                                                 as Servicer
                                                 (Registrant)

                                                 By: \s\ Eugene D. Rowenhorst
                                                        Eugene D. Rowenhorst
                                                        Senior Vice President

Dated:    July 17, 1996