Item 1. Business.
Not Applicable.
Item 2.
Item 2. Properties.
Not Applicable.
Item 3.
Item 3. Legal Proceedings.
The Servicer is not aware of any material pending legal proceedings involving either the Registrant, the Trustee, the Seller or the Servicer with respect to the Notes or the Registrant's property.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
No vote or consent of the holders of the Notes (the "Noteholders") was solicited for any purpose during the year ended December 31, 1998.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
To the best knowledge of the Administrator, there is no established public trading market for the Notes. As of February 26, 1999, there were 14 Class A-1 Noteholders, 5 Class A-2 Noteholders, 3 Class A-3 Noteholders and 1 Class B Noteholder, some of whom may be holding Notes for the accounts of others.
Item 6.
Item 6. Selected Financial Data.
Not Applicable.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Not Applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11.
Item 11. Executive Compensation.
Not Applicable.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
The following table sets forth (i) the name and address of each entity owning more than 5% of the outstanding principal amount of the Class A-1, Class A-2, Class A-3 or the Class B Notes; (ii) the principal amount of Notes owned by each and (iii) the percent that the principal amount of Notes owned represents of the outstanding principal amount of the Class A-1, Class A-2, Class A-3 or the Class B Notes. The information set forth in the table is based upon information obtained by the Administrator from the Trustee and from The Depository Trust Company as of February 26, 1999. The Administrator is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Notes.
Amount Owned All dollar amounts are in thousands
Name and Address Principal Percent
Class A-1 Noteholders
Bank of New York $105,500 13.29 925 Patterson Plank Road Secaucus, NJ 07094
Boston Safe Deposit & Trust Company $166,500 20.97 c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259
Chase Manhattan Bank $381,700 48.07 4 New York Plaza - 13th Floor New York, NY 10004
Class A-2 Noteholders
Bank of New York $ 16,500 31.58 925 Patterson Plank Road Secaucus, NJ 07094
Boston Safe Deposit and Trust Company $ 4,240 8.12 c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259
Bankers Trust Company $ 25,000 47.86 Dealer Clearance 16 Wall Street New York, NY 10005
State Street Bank & Trust Company $ 6,000 11.49 Global Corp. Action Dept. JAB5W P. O. Box 1631 Boston, MA 02105-1631
Amount Owned All dollar amounts are in thousands
Name and Address Principal Percent
Class A-3 Noteholders
Boston Safe Deposit and Trust Company $ 42,900 63.18 c/o Mellon Bank N.A. Three Mellon Bank Center Room 153-3015 Pittsburgh, PA 15259
Chase Manhattan Bank/Chemical $ 10,000 14.73 Proxy Department - 13th Floor 4 New York Plaza New York, NY 10004
State Street Bank & Trust Company $ 15,000 22.09 Global Corp. Action Dept. JAB5W P. O. Box 1631 Boston, MA 02105-1631
Class B Noteholder
Bankers Trust Company $ 49,370 100.00 c/o BT Services Tennessee Inc. 648 Grassmere Park Drive Nashville, TN 37211
Item 13.
Item 13. Certain Relationships and Related Transactions.
None or Not Applicable.
PART IV
Item 14.
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) List the following documents filed as a part of the report:
(1) Financial Statements
Not Applicable.
(2) Financial Statement Schedules
Not Applicable.
(3) The Administrator, on behalf of the Issuer, is obligated to prepare, and has so prepared, an Annual Statement for the year 1998, and the Independent Public Accountants are required to prepare an Annual Report as to Compliance for such year. Copies of said documents are or will be filed as exhibits to this Form 10-K when they are available.
(b) The Registrant filed the following current reports on Form 8-K for the fourth quarter of 1998:
Date of Reports Items Covered
October 14, 1998 Item 7. - Statement to November 13, 1998 Noteholders with respect December 14, 1998 to the distributions on October 14 and 15, 1998, November 13 and 16, 1998, and December 14 and 15, 1998.
(c) (1) Exhibit 99. Copy of Annual Statement for the year ended December 31, 1998.
(2) Exhibit 99.1. Copy of Annual Report as to Compliance for the year ended December 31, 1998.
(d) Not Applicable. SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Servicer has duly caused this report to be signed on behalf of the Household Consumer Loan Trust 1996-2 by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION, as Administrator of and on behalf of the
HOUSEHOLD CONSUMER LOAN TRUST 1996-2 (Registrant)
Date: March 4, 1999 By: /s/John W. Blenke John W. Blenke Assistant Secretary
U:\WP\HFS088\10K\HCL96-1 Exhibit Index
Exhibit No. Exhibit Page No.
99 Copy of Annual Statement 10 for the year ended December 31, 1998
99.1 Copy of Annual Report as to 11 Compliance for the year ended December 31, 1998