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                                                Exhibit 13(b)
                                                  Page 1 of 5

                               
           NAVISTAR FINANCIAL DEALER NOTE TRUST 1990
                               
      FLOATING RATE DEALER NOTE PASS-THROUGH CERTIFICATES
               ________________________________
                               
            ANNUAL SUMMARY OF SERVICER CERTIFICATES
                               
     DISTRIBUTION AND PERFORMANCE ANNUAL AGGREGATE REPORT
   For the period November 1, 1995 through October 31, 1996
                               

   Navistar financial corporation ("NFC"), as Servicer pursuant
to the Pooling and Servicing Agreement dated as of  December 1,
1990 (the "Agreement")  by and  among  NFC,  Navistar Financial
Securities Corporation ("NFSC") and  The  Chase  Manhattan Bank
(survivor in the merger between  The  Chase  Manhattan Bank and
Chemical  Bank  which  was the survivor  in the  merger between
Chemical  Bank  and  Manufacturers  Hanover  Trust Company), as
Trustee, is required to prepare  certain information each month
regarding  current   distributions  to  Investor  Accounts  and
payments  to  Investor  Certificateholders   as  well   as  the
performance  of  the  Trust.  An  annual  aggregation  of  such
monthly reports for the period November 1, 1995 through October
31, 1996  with  respect  to the performance of the Trust during
the period ended on  October 31, 1996  is  set forth below.  To
the  extent  not  defined  herein,  the  capitalized terms used
herein have the meanings assigned to them in the Agreement.

1.   NFC is Servicer under the Agreement.

2.   All Certificates filed during the period have been signed by
     a Servicing Officer.

3.   The amount of the Advance, if any, for the prior period
     is equal to                                                $193,806.74

4.   The amount of Dealer Finance Charge Collections for
     the prior period was equal to                           $31,163,823.56

5.   The amount of NITC Finance Charges for the prior
     period was equal to                                     $33,596,681.29

6.   The aggregate amount of all payments made pursuant to
     Section 4.03 for the prior period was equal to          $65,860,450.19

7.   The Deficiency Amount during the period was equal to             $0.00
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                                                Exhibit 13(b)
                                                  Page 2 of 5


8.   The Available Subordinated Amount as of the beginning
     of the period was equal to                              $78,718,300.00

9.   The Maximum Subordinated Amount as of the beginning
     of the period was equal to                              $78,718,300.00

10.  The Projected Spread for the current Distribution
     Period is equal to                                       $6,348,250.13

11.  The amount on deposit in the Spread Account as of the
     Spread Account Funding Date was equal to                 $6,348,250.13

12.  The principal amount of Dealer Notes outstanding as
     of the end of the period is equal to                   $671,544,305.64

13.  The average daily balance of Dealer Notes
     outstanding during the period is equal to              $840,163,980.07

14.  The amount of the Monthly Servicing Fee during
     the period is equal to                                   $8,401,639.83

15.  The amount of the Investor Monthly Servicing Fee
     during the period is equal to                            $5,078,600.00

16.  The amount of Dealer Finance Charges during the
     period is equal to                                      $50,486,316.91

17.  The amount of NITC Finance Charges during the period
     is equal to                                             $32,685,719.00

18.  The amount of Interest Income during the period is
     equal to                                                $83,299,016.27

19.  The amount of Investor Interest Income during the
     period is equal to                                      $31,667,054.82

20.  The amount of the Seller Interest Income during the
     period is equal to                                      $20,784,705.12

21.  The average daily Seller Interest during the period
     is equal to                                            $332,303,980.07

22.  The Total Investor Percentage as of the end of the
     period is equal to                                           63.78373%
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                                                Exhibit 13(b)
                                                  Page 3 of 5


23.  The Excess Servicing during the period is
     equal to                                                $22,445,616.53

24.  The Deficiency Amount as of the end of the period
     (after giving effect to the payments made pursuant
     to Section 4.03 of the Agreement) is equal to                    $0.00

25.  The amount of the Deficiency Amount specified in
     24 above allocable to each Class:

          Class A1                $  N/A

          Class A2                $  N/A

          Class A3                $  N/A

          Class A4                $  N/A

26.  The total amount of Advance Reimbursements during
     the period is equal to                                           $0.00

27.  The aggregate amount deposited in the Distribution
     Account on the Transfer Dates that was distributed on
     the Distribution Dates to the Investor Certificate-
     holders during the period was equal to                  $31,008,786.32

28.  The amount paid out to the Holders of each Class
     during the period in respect of Investor Certificate
     Interest:

          Class A1         $6,160,417.50

          Class A2         $6,360,417.51

          Class A3         $6,410,417.49

          Class A4        $12,077,533.82

29.  The aggregate principal amount of Dealer Notes
     repaid during the period is equal to                 $2,897,081,746.21

30.  The aggregate principal amount of Dealer Notes
     purchased by the Trust during the period is
     equal to                                             $2,721,550,438.57
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                                                Exhibit 13(b)
                                                  Page 4 of 5


31.  The aggregate principal amount of Investment Securities
     as of the end of the period is equal to                          $0.00

32.  The amount of Principal Losses during the period
     is equal to                                                      $0.00

33.  The amount of the Investor Loss Amount during the
     period is equal to                                               $0.00

34.  The Maximum Subordinated Amount as of the end of the
     period (after giving effect to the transactions set
     forth in Section 4.03 of the Agreement) is equal to     $78,718,300.00

35.  The Available Subordinated Amount at the end of the
     period (after giving effect to the transactions set
     forth in Section 4.03 of the Agreement) is equal to     $78,718,300.00

36.  The Seller Interest as of the end of the period
     is equal to                                            $163,694,305.64

37.  The Minimum Seller Interest at the end of the period
     (after giving effect to the transactions set forth in
     Section 4.03 of the Agreement) is equal to              $93,954,100.00

38.  The amount on deposit in the Spread Account at the
     end of the period (after giving effect to the
     transactions set forth in Section 4.03 of the 
     Agreement) is equal to                                   $6,348,250.13


AMORTIZATION TERM

39.  The Class Loss Amount during the period for each Class:

          Class A1                $  N/A

          Class A2                $  N/A

          Class A3                $  N/A

          Class A4                $  N/A

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                                                Exhibit 13(b)
                                                  Page 5 of 5


40.  The Class Charged-Off Amounts during the period for each Class:

          Class A1                $  N/A

          Class A2                $  N/A

          Class A3                $  N/A

          Class A4                $  N/A

41.  The amount of Principal Collections on deposit 
     in the Certificate Principal Account at the 
     end of the period                                       Not Applicable

42.  The amount of such Principal Collections allocable to
     each Amortizing Class:

          Class A1                $  N/A

          Class A2                $  N/A

          Class A3                $  N/A

          Class A4                $  N/A

43.  The amount on deposit in the Liquidity Reserve Account
     at the end of the period (after giving effect to the
     transactions made pursuant to Section 4.03 of the
     Agreement) is equal to                                  Not Applicable