Exhibit 99.15

MBNA MASTER CREDIT CARD TRUST II

SERIES 1996-M

KEY PERFORMANCE FACTORS
DECEMBER, 2000



Expected B Maturity 12/15/06


Blended Coupon 6.9476%



Excess Protection Level
3 Month Average 4.32%
December, 2000 0.33%
November, 2000 6.34%
October, 2000 6.28%


Cash Yield 19.83%


Investor Charge Offs 10.15%


Base Rate 9.35%


Over 30 Day Delinquency 4.72%


Seller's Interest 10.47%


Total Payment Rate 13.35%


Total Principal Balance $ 57,190,978,436.47


Investor Participation Amount $ 500,000,000.00


Seller Participation Amount $ 5,990,287,874.98