Form: 10-K

Annual report pursuant to Section 13 and 15(d)

March 25, 1997

Documents

10-K: Annual report pursuant to Section 13 and 15(d)

Published on March 25, 1997


SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934


FOR THE FISCAL YEAR ENDED: COMMISSION FILE
NUMBER:
December 31, 1996 33-99324
MBNA AMERICA BANK, NATIONAL ASSOCIATION,
ON BEHALF OF
MBNA MASTER CREDIT CARD TRUSTS
(Issuer in respect of the MBNA Master Credit Card Trust
II
Fixed and Floating Rate Asset Backed
Certificates)
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS
CHARTER)

United States of America 51-
0331-454
(STATE OR OTHER JURISDICTION (I.R.S.
EMPLOYER
OF INCORPORATION OR ORGANIZATION)
IDENTIFICATION NO.)


Wilmington, DE. 19884-0781
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(800) 362-6255
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
None
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
MBNA Master Credit Card Trust II, Series 1994-A, Series 1994-B,
Series 1994-C,
Series 1994-D, Series 1995-A, Series 1995-B, Series 1995-C,
Series 1995-D, Series 1995-E, Series 1995-F, Series 1995-I,
Series 1995-J, Series 1996-A, Series 1996-B, Series 1996-C,
Series 1996-D, Series 1996-E, Series 1996-G, Series 1996-H,
Series 1996-J, Series 1996-K, Series 1996-L, and Series 1996-M

Fixed and Floating Rate Asset Backed Certificates

INDICATE BY CHECK MARK WHETHER THE REGISTRANT HAS (1) FILED ALL
REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS
(OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO
FILE SUCH REPORTS) AND (2) HAS BEEN SUBJECT TO SUCH FILING
REQUIREMENTS FOR THE PAST 90 DAYS.

Yes [X] No [ ]

STATE THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY NON-
AFFILIATES OF THE REGISTRANT.

The Registrant has no voting stock or class of common stock
outstanding as of the date of this report.



INTRODUCTORY NOTE
-----------------

MBNA America Bank, National Association (the "Originator") is the
originator, seller, and servicer under the Pooling and Servicing
Agreement (the "Agreement"), dated as of August 4, 1994, and the
Series 1994-A, Series 1994-B, Series 1994-C , Series 1994-D,
Series 1995-A, Series 1995-B, Series 1995-C, Series 1995-D,
Series 1995-E, Series 1995-F, Series 1995-I, Series 1995-J,
Series 1996-A, Series 1996-B, Series 1996-C, Series 1996-D,
Series 1996-E, Series 1996-G, Series 1996-H, Series 1996-J,
Series 1996-K, Series 1996-L,and Series 1996-M Supplements dated
as of August 4, 1994, August 18, 1994, October 26, 1994, October
26, 1994, March 22, 1995, May 23, 1995, June 29, 1995, June 29,
1995, August 2, 1995, August 30, 1995, October 26, 1995, November
21, 1995, February 28, 1996, March 26, 1996, March 27, 1996, May
1, 1996, Mar 21, 1996, July 17, 1996, August 14, 1996, September
19, 1996, October 24, 1996, December 3, 1996 and November 26,
1996, respectively, by and between the Originator and the
trustee, providing for the issuance of the MBNA Master Credit
Card Trust II, Series 1994-A, Series 1994-B, Series 1994-C,
Series 1994-D, Series 1995-A, Series 1995-B, Series 1995-C,
Series 1995-D, Series 1995-E, Series 1995-F, Series 1995-I,
Series 1995-J, Series 1996-A, Series 1996-B, Series 1996-C,
Series 1996-D, Series 1996-E, Series 1996-G, Series 1996-H,
Series 1996-J, Series 1996-K, Series 1996-L,and Series 1996-M
Fixed and Floating Rate Asset Backed Certificates (the
"Certificates") and is the originator of the MBNA Master Credit
Card Trust II (the "Registrant"). The Certificates do not
represent obligations of or interest in the Originator. The
Originator has made application pursuant to Section 12 (h) of the
Securities Exchange Act of 1934 for an exemption from certain
reporting requirements. Pursuant to an Order of the Securities
and Exchange Commission dated December 30, 1988 granting
Originator's application, Originator is not required to respond
to various items of Form 10-K. Such items are designated herein
as "Not Applicable".


PART I
------


Item 1. Business
- ------- --------

Not Applicable


Item 2. Properties
- ------- ----------

Not Applicable


Item 3. Legal Proceedings
- ------- -----------------

None


Item 4. Submission Of Matters To A Vote Of Security Holders.
- ------- ----------------------------------------------------

None


PART II
-------


Item 5. Market For Registrant's Common Equity
- ------- And Related Stockholder Matters.
--------------------------------

The Certificates representing investors' interests in
the Trust
are represented by a single Certificate registered in
the name of
Cede & Co., the nominee of The Depository Trust
Company.

To the best knowledge of the registrant, there is no
established
public trading market for the Certificates.


Item 6. Selected Financial Data
- ------- -----------------------

Not Applicable

Item 7. Management's Discussion and Analysis of Financial
Condition and
- ------- Results of Operations
-------------------------------------------------------
- --------

Not Applicable

Item 8. Financial Statements and Supplementary Data
- ------- -------------------------------------------

Not Applicable

Item 9. Changes In And Disagreements With Accountants On
Accounting
- ------- And Financial Disclosure.
-------------------------------------------------------
- ----

None

Item 10. Directors and Executive Officers of the Registrant
- -------- --------------------------------------------------

Not Applicable

Item 11. Executive Compensation
- -------- ----------------------

Not Applicable


PART III
--------


Item 12. Security Ownership Of Certain Beneficial Owners And
Management
- -------- -------------------------------------------------------
- -------

(a) The Certificates of each Series representing investors'
interests in the Trust are represented by one or more
Certificates registered in the name of Cede & Co., the nominee of
The Depository Trust Company ("DTC"), and an investor holding an
interest in the Trust is not entitled to receive a Certificate
representing such interest except in certain limited
circumstances. Accordingly, Cede & Co. is the sole holder of
record of Certificates, which it held on behalf of brokers,
dealers, banks and other direct participants in the DTC system at
December 31, 1996. Such direct participants may hold
Certificates for their own accounts or for the accounts of their
customers. At December 31, 1996, the following direct DTC
participants held positions in Certificates representing
interests in the Trust equal to or exceeding 5% of the total
principal amount of the Certificates of each Series outstanding
on that date:



Aggregate
Amount of Percentage
Title Certificates Of
Class Name Held Ownership
- ------------ ---------------------------------- ------------- ----------
- --- ------ --- --

Series 1994- Bank of New York $ 82,300,000 12.45%
A
Class A Bankers Trust Company 170,585,000 25.80%
Chase Manhattan Bank/Chemical 90,600,000 13.70%
Citicorp Services, Inc. 35,700,000 5.40%
Merrill Lynch, Pierce, Fenner & 35,000,000 5.29%
Smith Safekeeping
SSB-Custodian 153,580,000 23.23%
Class B Chase Manhattan Bank 24,700,000 72.22%
CS First Boston Corporation, (The) 5,000,000 14.62%
Morgan Guaranty Trust Co. of New 2,500,000 7.31%
York
Morgan Stanley & Co., Incorporated 2,000,000 5.85%

Series 1994- Bank of New York 57,000,000 6.55%
B
Class A Chase Manhattan Bank 250,000,000 28.74%
PNC National Association 130,000,000 14.94%
SSB - Custodian 307,485,000 35.34%
Class B Bank of New York 9,000,000 20.00%
Chase Manhattan Bank 33,500,000 74.44%
Morgan Guaranty Trust Co. of New 2,500,000 5.56%
York

Series 1994- Bank of New York 318,995,000 36.67%
C
Class A Bankers Trust Company. 66,000,000 7.59%
Chase Manhattan Bank 168,700,000 19.39%
Citicorp Services, Inc. 45,000,000 5.17%
Merrill Lynch, Pierce, Fenner & 65,000,000 7.47%
Smith Safekeeping
NatWest Securities Corporation 50,000,000 5.75%
Class B Bank of New York 7,000,000 15.56%
Chase Manhattan Bank 28,000,000 62.22%
Chase Manhattan Bank / Chemical 10,000,000 22.22%

Series 1994- Bankers Trust Company 112,150,000 12.89%
D
Class A Chase Manhattan Bank 580,250,000 66.70%
SSB-Custodian 89,000,000 10.23%
Class B Bankers Trust Co., Investment A/C 20,250,000 45.00%
Fuji Bank & Trust Company 10,000,000 22.22%
SSB-Custodian 5,000,000 11.11%
Swiss Bank Corporation, NY Branch 9,750,000 21.67%

Series 1995- Bank of New York 26,000,000 5.20%
A
Class A Chase Manhattan Bank 59,850,000 11.96%
Chase Manhattan Bank / Chemical 45,050,000 9.01%
Citicorp Services, Inc. 285,000,000 56.97%
Merrill Lynch, Pierce, Fenner & 32,050,000 6.41%
Smith Safekeeping
Class B Chase Manhattan Bank 7,875,000 30.43%
Citicorp Services, Inc. 8,000,000 30.92%
Fuji Bank & Trust Company 10,000,000 38.65%

Series 1995- Bank of New York 500,000,000 76.63%
B
Class A Chase Manhattan Bank 102,500,000 15.71%
First Union National Bank 50,000,000 7.66%
Class B Bank of Tokyo-Mitsubishi Trust 20,000,000 59.26%
Company (The)
Chase Manhattan Bank / Chemical 5,000,000 14.81%
Citicorp Services, Inc. 7,500,000 22.22%

Series 1995- Bank of New York 35,510,000 7.10%
C
Class A Bankers Trust Company 100,105,000 20.01%
Boston Safe Deposit & Trust Co. 82,428,000 16.48%
Chase Manhattan Bank 34,617,000 6.92%
SSB- Custodian 100,840,000 20.16%
Class B First National Bank of Chicago 25,875,000 100.00%

Series 1995- Bank of New York 55,285,000 12.71%
D
Class A Bankers Trust Company 23,340,000 5.37%
Boston Safe Deposit & Trust 22,180,000 5.10%
Company
Chase Manhattan Bank 71,160,000 16.36%
Chase Manhattan Bank Trust Co. of 39,000,000 8.97%
CA
Investors Bank & Trust / M.F. 29,375,000 6.75%
Custody
Northern Trust Company 25,190,000 5.79%
SSB-Custodian 26,070,000 5.99%
Class B First National Bank of Chicago 22,500,000 100.00%
1
Series 1995- Bank of New York 24,500,000 5.63%
E
Class A Chase Manhattan Bank 284,575,000 65.42%
Dai-Ichi Kangyo Bank Limited (The) 50,000,000 11.49%
New York Branch
Class B Citicorp Services Inc. 10,000,000 44.44%
First National Bank of Chicago 12,500,000 55.56%

Series 1995- Bank of New York 74,270,000 16.32%
F
Class A Bankers Trust Company 58,965,000 12.96%
Boston Safe Deposit & Trust Co. 27,740,000 6.10%
Chase Manhattan Bank 59,730,000 13.13%
SSB-Custodian 52,820,000 11.61%
Class B Chase Manhattan Bank 18,750,000 100.00%

Series 1995- Bank of New York 36,750,000 5.63%
I
Class A Bankers Trust Company 90,000,000 13.79%
Chase Manhattan Bank 180,750,000 27.70%
Goldman, Sachs & Co. 50,000,000 7.66%
LBI-Lehman Government Securities 36,100,000 5.53%
Inc.
Morgan Guarantee Trust Company of 96,500,000 14.79%
New York
SSB-Custodian 127,000,000 19.46%
Class B Citicorp Services Inc. 7,000,000 20.74%
First National Bank of Chicago 13,250,000 39.26%
Swiss Bank Corporation, NY Branch 13,500,000 40.00%

Series 1995- Bank of New York 51,600,000 11.86%
J
Class A Chase Manhattan Bank 226,770,000 52.13%
Chase Manhattan Bank / Chemical 50,000,000 11.49%
Dai-Ichi Kangyo Bank Limited 35,000,000 8.05%
Fuji Bank & Trust Company 25,000,000 5.75%
Lehman Government Securities Inc. 25,000,000 5.75%
Class B First National Bank of Chicago 22,500,000 100.00%

Series 1996- Bank of New York 114,500,000 18.80%
A
Class A Bear Sterns Securities Corp. 50,000,000 8.21%
Chase Manhattan Bank 252,800,000 41.51%
Citicorp Services Inc. 55,900,000 9.18%
First National Bank of Chicago 37,400,000 6.14%
Class B Citicorp Services Inc. 15,000,000 47.62%
Fuji Bank & Trust Company 16,500,000 52.38%

Series 1996- Bank of New York 35,000,000 8.05%
B
Class A Bankers Trust Company 37,000,000 8.51%
Boston Safe Deposit & Trust 74,730,000 17.18%
Company
Chase Manhattan Bank / Chemical 136,500,000 31.38%
Citicorp Services Inc. 28,500,000 6.55%
Fuji Bank & Trust Company 25,000,000 5.75%
Harris Trust & Savings Bank 49,670,000 11.42%
Class B Boston Safe Deposit & Trust Co. 22,500,000 100.00%

Series 1996-
C
Class A Bank of New York 432,000,000 99.31%
Class B Bank of Bermuda (New York) LTD. 2,000,000 8.89%
Boston Safe Deposit & Trust 10,500,000 46.67%
Company
Chase Manhattan Bank 10,000,000 44.44%

Series 1996- Bank of New York 67,500,000 7.94%
D
Class A Chase Manhattan Bank 322,710,000 37.97%
Chase Manhattan Correspondent 54,250,000 6.38%
Clearing Services
Chase Manhattan Bank / Chemical 60,000,000 7.06%
Provident Bank 50,000,000 5.88%
SSB-Custodian 142,500,000 16.76%
Class B Boston Safe Deposit & Trust Co. 20,000,000 26.67%
Bankers Trust Co./Investment A/C 25,000,000 33.33%
Chase Manhattan Bank / Chemical 7,000,000 9.33%
Goldman, Sachs & Co. 18,000,000 24.00%
Harris Trust & Savings Bank 5,000,000 6.67%

Series 1996-
E
Class A Bank of New York 140,665,000 22.07%
Bankers Trust Company 37,000,000 5.80%
Chase Manhattan Bank 72,695,000 11.40%
Chase Manhattan Bank / Chemical 40,070,000 6.29%
Citicorp Services, Inc. 33,250,000 5.22%
Dai-ichi Kangyo Bank Limited (The) 100,000,000 15.69%
New York-Branch
First National Bank of Chicago 44,500,000 6.98%

Class B Boston Safe Deposit & Trust Co. 27,000,000 48.00%
Bankers Trust Co. / Investment A/C 10,000,000 17.78%
Chase Manhattan Bank 8,450,000 15.02%
Chase Manhattan Bank / Broker & 3,000,000 5.33%
Dealer Clearance Dept.
Harris Trust & Savings Bank 5,000,000 8.89%

Series 1996-
G
Class A Bank of New York 51,150,000 12.04%
Chase Manhattan Bank 35,000,000 8.24%
Chase Manhattan Bank / Chemical 92,000,000 21.65%
Citicorp Services, Inc. 35,250,000 8.29%
Dai-ichi Kangyo Bank Limited (The) 50,000,000 11.76%
New York-Branch
Goldman, Sachs & Co. 124,000,000 29.18%
Class B Bankers Trust Co. / Investment A/C 10,000,000 26.67%
Chase Manhattan Bank 27,500,000 73.33%

Series 1996-
H
Class A Bank of New York 322,000,000 31.57%
Bankers Trust Company 187,500,000 18.38%
Chase Manhattan Bank 131,500,000 12.89%
Chase Manhattan Bank / Chemical 56,600,000 5.55%
SSB-Custodian 162,600,000 15.94%
Class B Bankers Trust Co. / Investment A/C 27,000,000 30.00%
Chase Manhattan Bank 60,600,000 67.33%

Series 1996-
J
Class A Bank of New York 165,155,000 19.43%
Chase Manhattan Bank 353,995,000 41.65%
Chase Manhattan Bank / Chemical 54,500,000 6.41%
First National Bank of Chicago 75,750,000 8.91%
French American Banking Corp. 51,000,000 6.00%
Class B Boston Safe Deposit & Trust Co. 25,000,000 33.33%
Chase Manhattan Bank / Chemical 20,000,000 26.67%
Goldman, Sachs & Co. 30,000,000 40.00%

Series 1996-
K
Class A PNC National Association 820,000,000 96.47%
Class B Chase Manhattan Bank 15,000,000 20.00%
Chase Manhattan Bank / Chemical 5,000,000 6.67%
Goldman, Sachs & Co. 55,000,000 73.33%

Series 1996-
M
Class A Bank of New York 36,000,000 8.47%
Bank of New York / Barclays De 50,000,000 11.76%
Zoete Wedd Securities
Bankers Trust Company / First 59,000,000 13.88%
Union Cap. Mkt. Clearance
Chase Manhattan Bank 35,000,000 8.24%
Chase Manhattan Bank / Broker & 24,000,000 5.65%
Dealer Clearance Dept.
Chase Manhattan Bank / Chemical 80,000,000 18.82%
Northern Trust Company 60,000,000 14.12%
Class B Boston Safe Deposit & Trust 4,500,000 12.00%
Company
Chase Manhattan Bank 28,000,000 74.67%
Sanwa Bank Limited (The) New York- 5,000,000 13.33%
Branch
Series 1996-
L
Class A Bankers Trust Company 102,500,000 24.12%
Nesbitt Burns Securities, Inc. 25,000,000 5.88%
Bonds
Northern Trust Company 70,500,000 16.59%
SSB-Custodian 167,015,000 39.30%
Class B Chase Manhattan Bank 15,000,000 40.00%
Chase Manhattan Bank / Chemical 10,000,000 26.67%
Swiss American Securities, Inc. 12,500,000 33.33%








The address of each of the above participants is:

C/O The Depository Trust Company
55 Water Street
New York, NY 10041


(b) Not Applicable

(c) Not Applicable




Item 13. Certain Relationships and Related Transactions
- -------- ----------------------------------------------

None


PART IV
-------

Item 14. Exhibits, Financial Statement Schedules, And Reports On
Form 8-K
- -------- -------------------------------------------------------
- ---------


(a) The following documents are filed as part of this Report:

3. Exhibits:

99.01 Annual Accountant's report dated July 26, 1996 with respect
to Series 1994-A, Series 1994-B, Series 1994-C, Series 1994-
D, Series 1995-A, Series 1995-B, Series 1995-C, Series 1995-
D, Series 1995-E, Series 1995-F, Series 1995-I, Series 1995-
J, Series 1996-A, Series 1996-B, Series 1996-C, Series 1996-
D, Series and Series 1996-E


The Annual Accountant's report with respect to Series 1996-
G, Series
1996-H, Series 1996-J, Series 1996-K, Series 1996-L,and
Series 1996-M
is not required until August 31, 1997.

99.02 Annual Servicer's Certificate dated August 26,
1996 with respect to Series 1994-A, Series 1994-B, Series
1994-C, Series 1994-D, Series 1995-A, Series 1995-B, Series
1995-C, Series 1995-D,Series 1995-E, Series 1995-F, Series
1995-I, Series 1995-J, Series 1996-A, Series 1996-B, Series
1996-C, Series 1996-D, Series and 1996-E.


The Annual Servicer's Certificate with respect to Series
1996-G, Series 1996-H, Series 1996-J, Series 1996-K, Series 1996-L,
and Series 1996-M is not required until August 31, 1997.


(b) Three reports on Form 8-K were filed by the registrant for
each month during the quarter ended December 31, 1996. This
report included the following:


Item 2. Acquisition or Disposition of Assets

Item 5. Other Events


(c) See item 14(a) (3) above.




SIGNATURES
----------


Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned
thereunto duly authorized.


MBNA America Bank, National
Association
As originator of Trust
Registrant



Date: March 25, 1997 By: /s/ Marguerite M. Boylan
--------------------------
- -----
Marguerite M. Boylan
Vice President



_______________________________
1