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): January 17, 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 7/8% Class A Credit Card Participation Certificates, Series 1991-3
      9 1/4% Class B Credit Card Participation Certificates, Series 1991-3
      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]


                                        1
<PAGE>

       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
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-5
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-5
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-6

                       (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
         of incorporation)                        Identification No.)


      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
            Sioux Falls, South Dakota                       57117

      (Address of principal executive offices)            (Zip Code)

       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]


                                        2
<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.

                       Loss Experience for the Accounts(1)
                             (Dollars in Thousands)

                                                 Year Ended December 31,
                                          -------------------------------------
                                             1996         1995         1994
                                          -----------  -----------  -----------

Average Principal
  Receivables Outstanding(2) ...........  $31,225,337  $25,083,447  $18,066,914

Net Losses(3) ..........................  $ 1,678,991  $   956,261  $   685,118

Net Losses as a Percentage of Average
  Principal Receivables Outstanding ....         5.38%        3.81%        3.79%

----------

(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 each of the years ended
     December 31, 1996, 1995 and 1994 were 92.46%, 88.49% and 86.14%,
     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.


                                        3
<PAGE>

               Delinquencies as a Percentage of the Accounts(1)(2)
                             (Dollars in Thousands)

<TABLE>
<CAPTION>
                                                        As of December 31,
                                 -------------------------------------------------------------------
                      1996                       1995                       1994
                    ----------                 ---------                  ----------
Number of Days      Delinquent                 Delinquent                 Delinquent
Delinquent           Amount(1)   Percentage(2)  Amount(1)   Percentage(2)  Amount(1)   Percentage(2)
                    ----------   ------------- ----------   ------------- ----------   -------------
<S>                 <C>             <C>        <C>             <C>        <C>             <C>  
35-64 days ......   $  714,532      2.25%      $  699,878      2.75%      $  439,224      2.40%
65-94 days ......      394,432      1.25          353,832      1.39          228,335      1.25
95 days or more .      687,988      2.17          558,613      2.20          360,774      1.97
                    ----------      ----       ----------      ----       ----------      ---- 
 Total ..........   $1,796,952      5.67%      $1,612,323      6.34%      $1,028,333      5.62%
</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 each year of the three-year period ended
December 31, 1996 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.


                                        4
<PAGE>

                       Revenue Experience for the Accounts
                             (Dollars in Thousands)

                                                      Year Ended December 31,
                                                    --------------------------
                                         1996          1995            1994
                                      ----------    ----------      ----------

Finance Charges and Fees Paid (1)...  $5,732,865    $4,545,420      $3,397,756
Average Revenue Yield (2)...........       18.36%        18.11%          18.81%

----------
(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.


     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.


                                        5
<PAGE>

     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).


                                        6

<PAGE>

                Cardholder Monthly Payment Rates for the Accounts

                                                         Year Ended December 31,
                                                         ----------------------
                                           1996           1995            1994
                                          -------        ------          ------
                                                                      
Lowest Month............................   17.65%         17.59%         18.21%
Highest Month...........................   21.05%         20.92%         21.33%
Average of the Months in the Period.....   19.39%         19.09%         19.69%
                                                                     

     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 January 5, 1997 included $418,037,204
of Finance Charge Receivables and $32,633,125,361 of Principal Receivables
(which amounts include overdue Finance Charge Receivables and overdue Principal
Receivables). As of January 5, 1997, there were 25,678,632 Accounts. Included
within the Accounts are inactive Accounts that have no balance. The Accounts had
an average Principal Receivable balance of $1,271 and an average credit limit of
$4,796. The average total Receivable balance in the Accounts as a percentage of
the average credit limit with respect to the Accounts was 27%. Approximately 84%
of the Accounts were opened prior to December 1994. Approximately 13.27%,
11.03%, 6.65% and 5.61% 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 balance of the Receivables arising from nonpremium and premium accounts
as a percentage of the total Receivable balance of the Accounts, as of January
5, 1997, was approximately 72% and 28%, respectively. The periodic finance
charge assessed on balances in most accounts for cash advances and purchases is
currently the Prime Rate (as published in The Wall Street Journal) plus a
percentage ranging from 5.4% to 11.4% for


                                        7
<PAGE>

accounts in good standing, and the Prime Rate plus 12.9% for accounts which have
been recently, or currently are, delinquent. As of the most recent quarterly
reset date, the periodic finance charge ranged from 13.65% to 19.65% for most
accounts in good standing, and was 21.25% for most accounts which have been
recently, or currently are, delinquent. CBSD may change the periodic finance
charge on accounts at any time by written notice to the cardholders. Any
announced increase in such rate will become effective upon the earlier of
subsequent use of a card and the expiration of a 25-day period from the date
such change was made effective (assuming failure on the part of the cardholder
to object to the new rate). CBSD also offers promotional rates of limited
duration to attract new cardholders and to promote balance transfers from other
credit card issuers and, under certain circumstances, the periodic finance
charge on a limited number of accounts may be greater than or less than those
assessed by CBSD generally.

     The Accounts consist of Eligible Accounts. The Banks may (subject to
certain limitations and conditions), and, in certain circumstances, will be
obligated to, designate from time to time Additional Accounts and to convey to
the Trust all Receivables of such Additional Accounts, whether such Receivables
are then existing or thereafter created. The Banks have made Lump Sum Additions
to the Trust which, in the aggregate, included approximately $17.55 billion of
Principal Receivables.

     The following tables summarize the Accounts by various criteria as of
January 5, 1997. 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.


                                        8
<PAGE>

                   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) ............    209,349    0.82%  $   (36,311,353)   (0.11)%
No Balance(2) ................ 10,789,262   42.02                 0     0.00
Less than or equal to $500.00   3,391,921   13.21       716,032,557     2.17
$500.01 to $1,000.00 .........  2,205,987    8.59     1,638,414,973     4.96
$1,000.01 to $2,000.00 .......  3,315,730   12.91     4,878,052,723    14.76
$2,000.01 to $3,000.00 .......  1,979,658    7.71     4,880,306,866    14.76
$3,000.01 to $4,000.00 .......  1,214,022    4.73     4,203,714,817    12.72
$4,000.01 to $5,000.00 .......    890,749    3.47     4,018,730,760    12.16
$5,000.01 to $6,000.00 .......    560,707    2.18     3,065,532,598     9.27
$6,000.01 to $7,000.00 .......    357,681    1.39     2,314,450,919     7.00
$7,000.01 to $8,000.00 .......    247,130    0.96     1,846,671,368     5.59
$8,000.01 to $9,000.00 .......    164,885    0.64     1,397,769,758     4.23
$9,000.01 to $10,000.00 ......    125,355    0.49     1,189,004,352     3.60
Over $10,000.00 ..............    226,196    0.88     2,938,792,227     8.89
                               ----------  ------   ---------------   ------ 
   Total ..................... 25,678,632  100.00%  $33,051,162,565   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   1,551,458    6.04%  $    89,601,813     0.27%
$500.01 to $1,000.00 ........   1,736,049    6.76       563,784,057     1.71
$1,000.01 to $2,000.00 ......   4,496,063   17.51     2,986,440,479     9.03
$2,000.01 to $3,000.00 ......   3,370,648   13.13     3,086,898,571     9.34
$3,000.01 to $4,000.00 ......   2,409,046    9.38     2,739,808,275     8.29
$4,000.01 to $5,000.00 ......   2,813,650   10.96     3,760,834,216    11.38
Over $5,000.00 ..............   9,301,718   36.22    19,823,795,154    59.98
                               ----------  -------  ---------------   -------
   Total ....................  25,678,632  100.00%  $33,051,162,565   100.00%


                                        9
<PAGE>

                    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).................  23,948,301    93.26%   $28,860,955,114     87.32%
Up to 34 days delinquent...   1,018,380     3.97      2,393,256,552      7.24
35 to 64 days delinquent...     318,537     1.24        714,531,764      2.16
65 to 94 days delinquent...     149,902     0.58        394,431,726      1.19
95 to 124 days delinquent..     103,393     0.40        282,777,850      0.86
125 to 154 days delinquent.      78,250     0.31        224,318,662      0.68
155 to 184 days delinquent.      61,869     0.24        180,890,897      0.55
                             ----------   -------   ---------------    -------
   Total...................  25,678,632   100.00%   $33,051,162,565    100.00%

----------
(1)  Includes Accounts on which the minimum payment has not been received prior
     to the next billing date following the issuance of the related bill.

                         Composition of Accounts by Age
<TABLE>
<CAPTION>
                                           Percentage                  Percentage
                                            of Total                    of Total
                                Number of  Number of    Receivables    Receivables
               Age               Accounts    Accounts   Outstanding    Outstanding
   ------------------------     ---------  ---------  ---------------  -----------
<S>                   <C>                <C>   <C>    <C>                 <C>  
Less than or equal to 6 months           0     0.00%  $             0     0.00%
Over 6 months to 12 months ....          0     0.00                 0     0.00
Over 12 months to 24 months ...  4,028,388    15.69     5,054,501,211    15.29
Over 24 months to 36 months ...  4,221,370    16.44     4,565,019,318    13.81
Over 36 months to 48 months ...  2,198,314     8.56     2,850,409,511     8.63
Over 48 months ................ 15,230,560    59.31    20,581,232,525    62.27
                                ----------   ------   ---------------   ------ 
   Total ...................... 25,678,632   100.00%  $33,051,162,565   100.00%
</TABLE>


                                       10
<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 8.

"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 (formerly known as Standard
Credit Card Master Trust I).

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


                                       11
<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: January 17, 1997


                                       12
[{"type": "8-K", "sequence": "1", "description": "8-K FOR CCCMT I/ CITIBANK (SOUTH DAKOTA), N.A", "secsgml_size_bytes": 29473}]
{"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": "001-12615", "film-number": "97507634"}, "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): January 17, 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 7/8% Class A Credit Card Participation Certificates, Series 1991-3
      9 1/4% Class B Credit Card Participation Certificates, Series 1991-3
      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]

                                        1
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
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-5
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-5
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-6

                       (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
         of incorporation)                        Identification No.)

      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
            Sioux Falls, South Dakota                       57117

      (Address of principal executive offices)            (Zip Code)

       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]

                                        2
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,
                                          -------------------------------------
                                             1996         1995         1994
                                          -----------  -----------  -----------

Average Principal
  Receivables Outstanding(2) ...........  $31,225,337  $25,083,447  $18,066,914

Net Losses(3) ..........................  $ 1,678,991  $   956,261  $   685,118

Net Losses as a Percentage of Average
  Principal Receivables Outstanding ....         5.38%        3.81%        3.79%

----------

(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 each of the years ended
     December 31, 1996, 1995 and 1994 were 92.46%, 88.49% and 86.14%,
     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.

                                        3
Delinquencies as a Percentage of the Accounts(1)(2)
                             (Dollars in Thousands)
As of December 31,
                                 -------------------------------------------------------------------
                      1996                       1995                       1994
                    ----------                 ---------                  ----------
Number of Days      Delinquent                 Delinquent                 Delinquent
Delinquent           Amount(1)   Percentage(2)  Amount(1)   Percentage(2)  Amount(1)   Percentage(2)
                    ----------   ------------- ----------   ------------- ----------   -------------
35-64 days ......   $  714,532      2.25%      $  699,878      2.75%      $  439,224      2.40%
65-94 days ......      394,432      1.25          353,832      1.39          228,335      1.25
95 days or more .      687,988      2.17          558,613      2.20          360,774      1.97
                    ----------      ----       ----------      ----       ----------      ---- 
 Total ..........   $1,796,952      5.67%      $1,612,323      6.34%      $1,028,333      5.62%
----------
(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 each year of the three-year period ended
December 31, 1996 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.

                                        4
Revenue Experience for the Accounts
                             (Dollars in Thousands)

                                                      Year Ended December 31,
                                                    --------------------------
                                         1996          1995            1994
                                      ----------    ----------      ----------

Finance Charges and Fees Paid (1)...  $5,732,865    $4,545,420      $3,397,756
Average Revenue Yield (2)...........       18.36%        18.11%          18.81%

----------
(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.

     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.

                                        5
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).

                                        6
Cardholder Monthly Payment Rates for the Accounts

                                                         Year Ended December 31,
                                                         ----------------------
                                           1996           1995            1994
                                          -------        ------          ------
                                                                      
Lowest Month............................   17.65%         17.59%         18.21%
Highest Month...........................   21.05%         20.92%         21.33%
Average of the Months in the Period.....   19.39%         19.09%         19.69%
                                                                     

     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 January 5, 1997 included $418,037,204
of Finance Charge Receivables and $32,633,125,361 of Principal Receivables
(which amounts include overdue Finance Charge Receivables and overdue Principal
Receivables). As of January 5, 1997, there were 25,678,632 Accounts. Included
within the Accounts are inactive Accounts that have no balance. The Accounts had
an average Principal Receivable balance of $1,271 and an average credit limit of
$4,796. The average total Receivable balance in the Accounts as a percentage of
the average credit limit with respect to the Accounts was 27%. Approximately 84%
of the Accounts were opened prior to December 1994. Approximately 13.27%,
11.03%, 6.65% and 5.61% 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 balance of the Receivables arising from nonpremium and premium accounts
as a percentage of the total Receivable balance of the Accounts, as of January
5, 1997, was approximately 72% and 28%, respectively. The periodic finance
charge assessed on balances in most accounts for cash advances and purchases is
currently the Prime Rate (as published in The Wall Street Journal) plus a
percentage ranging from 5.4% to 11.4% for

                                        7
accounts in good standing, and the Prime Rate plus 12.9% for accounts which have
been recently, or currently are, delinquent. As of the most recent quarterly
reset date, the periodic finance charge ranged from 13.65% to 19.65% for most
accounts in good standing, and was 21.25% for most accounts which have been
recently, or currently are, delinquent. CBSD may change the periodic finance
charge on accounts at any time by written notice to the cardholders. Any
announced increase in such rate will become effective upon the earlier of
subsequent use of a card and the expiration of a 25-day period from the date
such change was made effective (assuming failure on the part of the cardholder
to object to the new rate). CBSD also offers promotional rates of limited
duration to attract new cardholders and to promote balance transfers from other
credit card issuers and, under certain circumstances, the periodic finance
charge on a limited number of accounts may be greater than or less than those
assessed by CBSD generally.

     The Accounts consist of Eligible Accounts. The Banks may (subject to
certain limitations and conditions), and, in certain circumstances, will be
obligated to, designate from time to time Additional Accounts and to convey to
the Trust all Receivables of such Additional Accounts, whether such Receivables
are then existing or thereafter created. The Banks have made Lump Sum Additions
to the Trust which, in the aggregate, included approximately $17.55 billion of
Principal Receivables.

     The following tables summarize the Accounts by various criteria as of
January 5, 1997. 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.

                                        8
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) ............    209,349    0.82%  $   (36,311,353)   (0.11)%
No Balance(2) ................ 10,789,262   42.02                 0     0.00
Less than or equal to $500.00   3,391,921   13.21       716,032,557     2.17
$500.01 to $1,000.00 .........  2,205,987    8.59     1,638,414,973     4.96
$1,000.01 to $2,000.00 .......  3,315,730   12.91     4,878,052,723    14.76
$2,000.01 to $3,000.00 .......  1,979,658    7.71     4,880,306,866    14.76
$3,000.01 to $4,000.00 .......  1,214,022    4.73     4,203,714,817    12.72
$4,000.01 to $5,000.00 .......    890,749    3.47     4,018,730,760    12.16
$5,000.01 to $6,000.00 .......    560,707    2.18     3,065,532,598     9.27
$6,000.01 to $7,000.00 .......    357,681    1.39     2,314,450,919     7.00
$7,000.01 to $8,000.00 .......    247,130    0.96     1,846,671,368     5.59
$8,000.01 to $9,000.00 .......    164,885    0.64     1,397,769,758     4.23
$9,000.01 to $10,000.00 ......    125,355    0.49     1,189,004,352     3.60
Over $10,000.00 ..............    226,196    0.88     2,938,792,227     8.89
                               ----------  ------   ---------------   ------ 
   Total ..................... 25,678,632  100.00%  $33,051,162,565   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   1,551,458    6.04%  $    89,601,813     0.27%
$500.01 to $1,000.00 ........   1,736,049    6.76       563,784,057     1.71
$1,000.01 to $2,000.00 ......   4,496,063   17.51     2,986,440,479     9.03
$2,000.01 to $3,000.00 ......   3,370,648   13.13     3,086,898,571     9.34
$3,000.01 to $4,000.00 ......   2,409,046    9.38     2,739,808,275     8.29
$4,000.01 to $5,000.00 ......   2,813,650   10.96     3,760,834,216    11.38
Over $5,000.00 ..............   9,301,718   36.22    19,823,795,154    59.98
                               ----------  -------  ---------------   -------
   Total ....................  25,678,632  100.00%  $33,051,162,565   100.00%

                                        9
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).................  23,948,301    93.26%   $28,860,955,114     87.32%
Up to 34 days delinquent...   1,018,380     3.97      2,393,256,552      7.24
35 to 64 days delinquent...     318,537     1.24        714,531,764      2.16
65 to 94 days delinquent...     149,902     0.58        394,431,726      1.19
95 to 124 days delinquent..     103,393     0.40        282,777,850      0.86
125 to 154 days delinquent.      78,250     0.31        224,318,662      0.68
155 to 184 days delinquent.      61,869     0.24        180,890,897      0.55
                             ----------   -------   ---------------    -------
   Total...................  25,678,632   100.00%   $33,051,162,565    100.00%

----------
(1)  Includes Accounts on which the minimum payment has not been received prior
     to the next 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 ....          0     0.00                 0     0.00
Over 12 months to 24 months ...  4,028,388    15.69     5,054,501,211    15.29
Over 24 months to 36 months ...  4,221,370    16.44     4,565,019,318    13.81
Over 36 months to 48 months ...  2,198,314     8.56     2,850,409,511     8.63
Over 48 months ................ 15,230,560    59.31    20,581,232,525    62.27
                                ----------   ------   ---------------   ------ 
   Total ...................... 25,678,632   100.00%  $33,051,162,565   100.00%
10
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 8.

"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 (formerly known as Standard
Credit Card Master Trust I).

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

                                       11
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: January 17, 1997

                                       12