UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                     Washington, D. C. 20549

                            FORM 10-K
      [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                THE SECURITIES EXCHANGE ACT OF 1934
             For the fiscal year ended December 31, 1999

                               OR

     [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
               THE SECURITIES EXCHANGE ACT OF 1934
             For the transition period from _____ to ______

Commission File Nos. 33-47812;  33-49106;  33-67502; 33-81634;
                    333-51045; 000-21424; 000-21424-01

                  AMERICAN EXPRESS MASTER TRUST
                    (Issuer of Certificates)

       AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION
           Co-Originator of the Trust and a Transferor
    ------------------------------------------------------
    (Exact name of registrant as specified in its charter)

          Delaware                                    13-3632012
----------------------------                      -------------------
(State or other jurisdiction                       (I.R.S. Employer
   of incorporation)                              Identification No.)

 200 Vesey Street, New York, New York                   10285
----------------------------------------              ----------
(Address of principal executive offices)              (Zip code)

  Registrant's telephone number, including area code (212) 640-5582

                 AMERICAN EXPRESS CENTURION BANK
           Co-Originator of the Trust and a Transferor
    ------------------------------------------------------
    (Exact name of registrant as specified in its charter)

          Utah                                        11-2869525
----------------------------                       ----------------
(State or other jurisdiction                       (I.R.S. Employer
   of incorporation)                              Identification No.)

6985 Union Park Center, Midvale, Utah                   84047
----------------------------------------              ----------
(Address of principal executive offices)              (Zip code)

         Registrant's telephone number, including area code (801) 565-5000

         Securities registered pursuant to Section 12(b) of the Act:  NONE

         Securities registered pursuant to Section 12(g) of the Act:
the 5.375% Class A Accounts Receivable Trust Certificates, Series 1993-1,
the 7.60%  Class A Accounts Receivable Trust Certificates, Series 1994-2,
the 7.85%  Class A Accounts Receivable Trust Certificates, Series 1994-3,
the Class A Floating Rate Accounts Receivable Trust Certificates, Series 1996-1,
the Class A Floating Rate Accounts Receivable Trust Certificates, Series 1996-2,
and the 5.90%  Class A Accounts Receivable Trust Certificates, Series 1998-1

Indicate  by  check  mark  whether  the  registrant  (1)  has  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
                                              -

Indicate  by  check  mark  if  disclosure of delinquent  filers pursuant to Item
405 of Regulation S-K is not contained herein and will not be contained,  to the
best  of  the  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part  III of this  Form  10-K or any
amendment to this Form 10-K.  Not applicable.

State the aggregate  market  value  of  the  voting stock held by non-affiliates
of the registrant:   Not applicable.

                DOCUMENTS INCORPORATED BY REFERENCE: NONE
<PAGE>

                                  PART I


Item 1.  Business

         The American Express Master Trust (the "Trust") was formed  pursuant to
a Master Pooling and Servicing Agreement,  dated as of June 30, 1992,  which was
amended by the Amended and  Restated  Master  Pooling and  Servicing  Agreement,
dated as of May 1, 1998 (the  "Agreement"),  among American Express  Receivables
Financing  Corporation and American Express  Centurion Bank, as transferors (the
"Transferors"),  American  Express  Travel  Related  Services  Company,  Inc. as
servicer (the "Servicer"), and The Bank of New York, as trustee (the "Trustee").
American Express Centurion Bank was added as a transferor in May 1998.  American
Express Receivables  Financing Corporation ("RFC") was incorporated in the state
of  Delaware  on July 30,  1991 and is a wholly  owned  subsidiary  of  American
Express Travel Related Services Company,  Inc. ("TRS").  Its principal executive
offices  are  located  at  200  Vesey  Street,  New  York,  New  York.  TRS  was
incorporated  in the  state  of New York on May 3,  1982  and is a wholly  owned
subsidiary  of American  Express  Company  ("American  Express").  Its principal
executive offices are located at 200 Vesey Street, New York, New York.  American
Express Centurion Bank was incorporated under Delaware banking laws as a limited
service  bank in 1985.  As of July 1, 1996,  its business was combined by merger
with another subsidiary of TRS that is a Utah-chartered, FDIC-insured industrial
loan  company.  The  surviving  institution  was  renamed  as  American  Express
Centurion Bank  ("Centurion").  Its principal  executive  offices are located at
6985 Union Park Center, Midvale, Utah.

         The Trust was formed for the purpose of acquiring and holding the Trust
Assets (defined below) and from time to time issuing  asset-backed  certificates
(the  "Certificates")  under the Agreement and one or more  supplements  thereto
(each, a "Supplement"),  including  issuing and selling certain  Certificates to
investors in underwritten  public  offerings and private  placements  ("Investor
Certificates").  Each Certificate  represents an undivided interest in the Trust
and the right to receive  payments of interest at a specified  rate and payments
of  principal  at certain  times  during the term of the Trust.  Each  series of
Investor  Certificates (each, a "Series") will have its own Supplement to govern
the individual terms and allocations applicable to such Series.

         The property of the Trust (the "Trust Assets")  includes a portfolio of
receivables  (the  "Receivables")  generated from time to time in a portfolio of
American  Express(R)  Card,  American  Express(R) Gold Card and Platinum Card(R)
accounts  (collectively,  the "Accounts") owned by TRS or Centurion,  all monies
due or to  become  due in  payment  of the  Receivables,  all  proceeds  of such
Receivables  and any Series  Enhancement  provided for any particular  Series or
class of Certificates.  "Series  Enhancement"  may include,  with respect to any
Series or class of  Certificates,  the  subordination  of one or more classes or
Series of Certificates to one or more other classes or Series of Certificates, a
letter of credit,  a cash  collateral  guaranty,  a cash collateral  account,  a
surety  bond,  a  collateral  interest,  a spread  account,  a  guaranteed  rate
agreement,  a maturity  liquidity  facility,  a tax  protection  agreement or an
insurance policy. The Certificates do not represent  obligations of or interests
in RFC, Centurion or TRS.

         TRS and Centurion do not act as guarantors with respect to any payments
on the Certificates, and neither the Trustee nor the holders of the Certificates
will  have  general  recourse  against  any of TRS,  RFC or  Centurion  or their
respective  assets.  Instead,  the  Trustee's and  the  Certificateholders' only
recourse in any action seeking to collect  amounts owing under the  Certificates
will be against, and limited to, the Trust Assets.

         The Agreement governs the allocation  of  collections in respect of the
Receivables.  Payments  received on the Trust's  Assets are allocated  among the
different   Series  (and  within  a  Series  among  the  different   classes  of
Certificates  within  a  Series)  and  the  interest  of RFC and  Centurion,  as
transferors, all as set forth in the Agreement and Supplements.



                                       - 1 -


<PAGE>

         The Trust does not engage in any business activity other than acquiring
and holding the Trust Assets, issuing Certificates, making payments  thereon and
related activities.  Pursuant to the Agreement,  the Trustee will hold the Trust
Assets in trust for the benefit of the holders of the  Certificates,  and TRS or
any  successor  servicer,   as  the  Servicer,   will  be  responsible  for  the
administration  and  servicing  of the  Receivables.  The Trust has issued  nine
Series of Certificates, of which six are outstanding. The 6.60% Class A Accounts
Receivable Trust Certificates, Series 1992-2, were paid in full July 15, 1999.

         Information  concerning  the  performance of  the Trust Assets for each
monthly due  period  of  the  Trust is contained in monthly  Servicer's  reports
provided to  the  Trustee  and  filed  monthly  on  Form  8-K,  and  information
concerning distributions  made on  the  Investor  Certificates  is  contained in
payment date statements prepared by the Servicer and also filed on Form 8-K. The
Servicer has prepared  a  report that sets forth, with respect to certain of the
items  reported  on  monthly  in  the  monthly Servicer's reports, the aggregate
amount of such items for the full  year  1999  or,  as  applicable,  the  amount
of such  items as of December 26, 1999. This annual report is filed  herewith as
Exhibit 99.3.


Item 2.  Properties.

         See Exhibit 99.3.


Item 3.  Legal Proceedings.

         The Registrant  knows  of  no  material pending legal  proceedings with
respect to the Trust, involving the Trust, the Trust Assets, RFC, Centurion, the
Trustee  or  TRS,  exclusive of ordinary  routine  litigation  incidental to the
duties of TRS, RFC, Centurion or the Trustee under the Agreement.


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.

         (a) To the  best knowledge  of  the Registrant, there is no established
             public trading market for the Investor Certificates.

         (b) The Investor  Certificates,  representing  investors'  interests in
             the Trust,  are  represented by certificates registered in the name
             of Cede & Co., the nominee of The Depository Trust Company ("DTC").

         (c) Not applicable.


Item 6.  Selected Financial Data.

         Not applicable.


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

         Not applicable.








                                          - 2 -
<PAGE>

Item 7a. Quantitative and Qualitative Disclosures About Market Risk.

         Not applicable.


Item 8.  Financial Statements and Supplementary Data.

         See Exhibit 99.3.


Item 9.  Changes  in  and  Disagreements  with  Accountants  on  Accounting  and
         Financial Disclosure.

         None.


                              PART III

Item 10. Directors and Executive Officers of the Registrant.

         Not applicable.


Item 11. Executive Compensation.

         Not applicable.


Item 12. Security Ownership of Certain Beneficial Owners and Management.

         (a) The Investor Certificates were delivered in book-entry form through
             the facilities  of  DTC.  As  a  consequence,  the sole  registered
             holder of Investor Certificates is Cede & Co., the nominee of  DTC.
             An investor  holding  an  interest in  the Trust is not entitled to
             receive a certificate representing such interest except in  limited
             circumstances. Cede & Co. holds the Investor Certificates on behalf
             of  brokers,  dealers,  banks  and  other  direct  participants  in
             the DTC system. DTC participants may own Investor  Certificates for
             their own account or hold them for the accounts of their customers.
             As  of  February  9,  2000  the  following  DTC  participants  held
             positions  in Investor Certificates  representing  interests in the
             Trust equal to or exceeding 5% of the total principal amount of the
             Investor  Certificates  of   the  relevant  class  of  each  Series
             outstanding  on  that  date:

             <TABLE>
             <CAPTION>
                                       Principal Amount
             Name                      of Certificates          Percent of Class
             ----                      ----------------         ----------------
             <S>                         <C>                         <C>
             CLASS A ACCOUNTS
             RECEIVABLE TRUST
             CERTIFICATES,
             SERIES 1993-1:

             The Bank of New York         $89,862,000                14.9%

             Bankers Trust Company        $64,927,000                10.8%

             Boston Safe Deposit &        $72,481,582                12.0%
               Trust Company

             Chase Manhattan Bank        $111,560,000                18.5%

             Citibank, N.A.               $51,823,000                 8.6%

             State Street Bank and        $54,000,000                 9.0%
               Trust Company

             </TABLE>






                                        - 3 -

<PAGE>
             <TABLE>
             <CAPTION>
                                       Principal Amount
             Name                      of Certificates          Percent of Class
             ----                      ----------------         ----------------
             <S>                         <C>                         <C>
             CLASS A ACCOUNTS
             RECEIVABLE TRUST
             CERTIFICATES,
             SERIES 1994-2:

             The Bank of New York         $41,885,000                13.9%

             Bankers Trust Company        $61,285,000                20.4%

             Chase Manhattan Bank         $43,965,000                14.6%

             Citibank, N.A.               $23,000,000                 7.6%

             First Union National Bank    $32,100,000                10.7%
             - Philadelphia

             State Street Bank and        $44,770,000                14.9%
               Trust Company



             CLASS A ACCOUNTS
             RECEIVABLE TRUST
             CERTIFICATES,
             SERIES 1994-3:

             The Bank of New York         $30,375,000                10.1%

             Chase Manhattan Bank         $46,835,000                15.6%

             Chase Manhattan Bank/        $46,285,000                15.4%
               F1-Trac 2

             Investors Fiduciary Trust    $21,220,000                 7.0%
               Company

             State Street Bank and        $21,500,000                 7.2%
               Trust Company

             Fifth Third Bank/            $31,675,000                10.5%
               State Teachers Retirement
               of Ohio



             CLASS A FLOATING
             RATE ACCOUNTS
             RECEIVABLE TRUST
             CERTIFICATES,
             SERIES 1996-1:

             The Bank of New York        $146,026,000                15.3%

             Chase Manhattan Bank         $54,064,000                 5.7%

             Chase Manhattan Bank/        $50,000,000                 5.3%
               F1-Trac 2

             Citibank, N.A.              $286,910,000                30.2%

             State Street Bank and       $327,000,000                34.4%
               Trust Company

             </TABLE>





                                        - 4 -

<PAGE>

             <TABLE>
             <CAPTION>

                                       Principal Amount
             Name                      of Certificates          Percent of Class
             ----                      ----------------         ----------------
             <S>                          <C>                        <C>
             CLASS A FLOATING
             RATE ACCOUNTS
             RECEIVABLE TRUST
             CERTIFICATES,
             SERIES 1996-2:

             The Bank of New York          $97,720,000               32.6%

             Citibank, N.A.                $40,305,000               13.4%

             State Street Bank and        $104,135,000               34.7%
               Trust Company



             CLASS A ACCOUNTS
             RECEIVABLE TRUST
             CERTIFICATES,
             SERIES 1998-1

             The Bank of New York         $198,285,000               19.8%

             Bankers Trust Company        $268,183,500               26.8%

             Boston Safe Deposit and      $104,083,000               10.4%
               Trust Company

             Chase Manhattan Bank          $96,239,000                9.6%

             State Street Bank and         $86,852,000                8.7%
               Trust Company

             </TABLE>


             The address of each of the above participants is:

             c/o The Depository Trust Company
             55 Water Street
             New York, New York  10041

         (b) Not applicable.

         (c) Not applicable.


Item 13. Certain Relationships and Related Transactions.

         The Bank of New York acts as Trustee under the Agreement.










                                           - 5 -

<PAGE>


                                     PART IV


Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

         (a) Financial Statements:

             1.  Annual Servicing Statement Delivered to the Trustee (filed as
                 Exhibit 99.1).

             2.  Annual Accountant's Report of Ernst & Young LLP (filed as
                 Exhibit 99.2).

             3.  Annual Report containing Aggregate Information for the Fiscal
                 Year (filed as Exhibit 99.3).


         (b) Reports on Form 8-K:

             The Trust  has  filed  the  following  reports  on Form 8-K for the
             monthly  due  periods occurring since February 27, 1999:


             1.  Form  8-K,  dated  April  15,  1999,  attaching   the   Monthly
                 Servicer's   Certificate  for   the  due  period  February 27,
                 1999  through  March  28, 1999.

             2.  Form 8-K, dated  May 17, 1999, attaching the Monthly Servicer's
                 Certificate  for  the  due  period March 29, 1999 through April
                 27, 1999.

             3.  Form 8-K, dated June 15, 1999, attaching the Monthly Servicer's
                 Certificate  for the due period April 28, 1999 through May  27,
                 1999.

             4.  Form 8-K, dated July 15, 1999, attaching the Monthly Servicer's
                 Certificate  for the due period May 28, 1999  through  June 27,
                 1999.

             5.  Form  8-K,  dated  August  16,  1999,  attaching  the   Monthly
                 Servicer's Certificate for the due period June 28, 1999 through
                 July 27, 1999.

             6.  Form  8-K,  dated  September  15,  1999,  attaching the Monthly
                 Servicers  Certificate  for  the  due  period  July  28,  1999
                 through August 26, 1999.

             7.  Form  8-K,  dated  October  15,  1999,  attaching  the  Monthly
                 Servicer's  Certificate  for  the  due  period  August 27, 1999
                 through September 26, 1999.

             8.  Form  8-K,  dated  November  15,  1999, attaching  the  Monthly
                 Servicer's  Certificate  for  the due period September 27, 1999
                 through October  26,  1999.

             9.  Form  8-K,  dated   December 14,  1999, attaching  the  Monthly
                 Servicer's  Certificate  for  the  due  period October 27, 1999
                 through November 26, 1999.

             10. Form  8-K,  dated  January  18, 2000, attaching   the  Monthly
                 Servicer's  Certificate  for the due period  November 27, 1999
                 through December 26, 1999.

             11. Form  8-K,  dated  February  15, 2000,  attaching  the  Monthly
                 Servicer's  Certificate  for  the due  period December 27, 1999
                 through January  27, 2000.







                                        - 6 -
<PAGE>


             12. Form  8-K,  dated  March  15,  2000,  attaching   the   Monthly
                 Servicer's  Certificate  for  the  due period  January 28, 2000
                 through February 26, 2000.


         (c) Exhibits:

             4.1 Master  Pooling  and Servicing Agreement,  dated as of June 30,
                 1992, among American Express Receivables Financing Corporation,
                 as  Transferor,  American   Express  Travel  Related  Services
                 Company,  Inc.,  as  Servicer,  and  The  Bank  of New York, as
                 Trustee (incorporated by reference to Exhibit 1 of Form 8-K of
                 the registrant dated August 3, 1992, File No. 33-49106).

             4.2 Amendment  No. 1  to  Master  Pooling and Servicing  Agreement,
                 dated  as  of  September  8,  1993,  among   American  Express
                 Receivables  Financing  Corporation,  as  Transferor,  American
                 Express  Travel  Related  Services Company,  Inc., as Servicer,
                 and The Bank of New York, as Trustee (incorporated by reference
                 to Exhibit 1.2 of Form 8-A of the registrant dated October 15,
                 1996, File No. 33-49106).

             4.3 Amendment  No. 2  to  Master  Pooling and Servicing  Agreement,
                 dated as of July 15, 1994, among American  Express  Receivables
                 Financing  Corporation, as Transferor,  American Express Travel
                 Related Services Company,  Inc., as  Servicer,  and The Bank of
                 New York, as Trustee  (incorporated  by  reference to Exhibit 2
                 of Form 8-K of the  registrant  dated  July 15, 1994, File  No.
                 33-49106).

             4.4 Amendment No. 3 to  Master  Pooling  and  Servicing  Agreement,
                 dated  as  of  September  12,  1994,  among   American  Express
                 Receivables  Financing  Corporation,  as  Transferor,  American
                 Express Travel Related Services Company, Inc., as Servicer, and
                 The Bank of New York,  as Trustee  (incorporated  by  reference
                 to Exhibit 2 of Form 8-K of the  registrant dated September 12,
                 1994, File No. 33-49106).

             4.5 Amendment  No. 4  to  Master  Pooling and Servicing  Agreement,
                 dated  as  of  January  17,  1996,  among   American   Express
                 Receivables  Financing  Corporation,  as  Transferor,  American
                 Express  Travel  Related  Services Company,  Inc., as Servicer,
                 and The Bank of New York, as Trustee (incorporated by reference
                 to  Exhibit 2 of  Form 8-K of the registrant  dated January 17,
                 1996, File No. 33-49106).

             4.6 Amendment  No. 5 to Master  Pooling  and  Servicing  Agreement,
                 dated as of March 27, 1997, among American  Express Receivables
                 Financing Corporation, as  Transferor,  American Express Travel
                 Related  Services  Company, Inc., as Servicer, and The  Bank of
                 New York, as Trustee (incorporated  by reference to Exhibit 4.6
                 of Form 10-K of the  registrant dated March 26, 1998, File Nos.
                 33-47812, 33-49106, 33-67502 and 33-81634).

             4.7 Amended  and Restated  Master Pooling and Servicing  Agreement,
                 dated as of May 1, 1998,  among  American  Express  Receivables
                 Financing  Corporation  and  American  Express  Centurion Bank,
                 as  Transferors,   American  Express  Travel  Related  Services
                 Company,  Inc.,  as  Servicer,  and  The  Bank  of New York, as
                 Trustee  (incorporated  by reference to Exhibit 4.1 of Form 8-K
                 of  the  registrants  dated  May 27, 1998,  File Nos. 33-47812,
                 33-49106,   33-67502,   33-81634,   333-51045,  000-21424   and
                 000-21424-01).

             4.8 Series  1993-1  Supplement,  dated  as  of  September  1, 1993,
                 to Master  Pooling and  Servicing  Agreement  (incorporated  by
                 reference  to  Exhibit 2  of  Form 8-K  of the registrant dated
                 September 22, 1993, File No. 33-47812).

             4.9 Series  1994-2  Supplement,  dated  as  of  September  1, 1994,
                 to Master  Pooling and  Servicing  Agreement  (incorporated  by
                 reference  to  Exhibit 6  of  Form 8-K  of the registrant dated
                 September 12, 1994, File No. 33-47812).




                                                - 7 -
<PAGE>


            4.10 Series  1994-3  Supplement,  dated  as  of  September  1, 1994,
                 to Master  Pooling and  Servicing  Agreement  (incorporated  by
                 reference  to  Exhibit 7  of  Form 8-K  of the registrant dated
                 September 12, 1994, File No. 33-47812).

            4.11 Series  1996-1  Supplement,  dated  as  of September  18, 1996,
                 to Master  Pooling and  Servicing  Agreement  (incorporated  by
                 reference  to  Exhibit 20.1 of Form 8-K of the registrant dated
                 September 18, 1996, File No. 33-47812).

            4.12 Series  1996-2  Supplement,  dated  as  of September  18, 1996,
                 to Master  Pooling and  Servicing  Agreement  (incorporated  by
                 reference  to  Exhibit 20.2 of Form 8-K of the registrant dated
                 September 18, 1996, File No. 33-47812).

            4.13 Series 1998-1  Supplement,  dated  as of  May 27, 1998,  to the
                 Amended and Restated  Master Pooling and  Servicing  Agreement,
                 dated as of May 1, 1998  (incorporated  by reference to Exhibit
                 4.2 of Form 8-K  of  the registrant  dated  May 27, 1998,  File
                 Nos. 33-47812,   33-49106,   33-67502,   33-81634,   333-51045,
                 000-21424 and 000-21424-01).

           10.1  Receivable  Purchase  Agreement,  dated  as  of  June 30, 1992,
                 between  American  Express Receivables  Financing  Corporation,
                 as  purchaser,  and  American  Express  Travel Related Services
                 Company, Inc., as seller (incorporated by reference  to Exhibit
                 4(b)  to the Registration Statement filed on behalf of American
                 Express Master Trust, Series 1992-1, File No. 33-47812).

           10.2  Amendment  No. 1 to Receivable  Purchase  Agreement,  dated  as
                 of September 12, 1994,  between  American  Express  Receivables
                 Financing  Corporation,  as  purchaser,  and  American  Express
                 Travel  Related  Services  Company,  Inc.,  as  seller (incor-
                 porated by reference to Exhibit 4 of Form 8-K of the registrant
                 dated September 12, 1994, File No. 33-47812).

           10.3  Amendment No. 2  to Receivable Purchase Agreement,  dated as of
                 August 7, 1997, between American Express Receivables  Financing
                 Corporation,  as purchaser, and American Express Travel Related
                 Services  Company,  Inc., as seller  (incorporated by reference
                 to  Exhibit 20.3 of Form 8-K of the registrant dated August 14,
                 1997, File No. 33-47812).

           24.1  Power of Attorney for RFC.

           24.2  Power of Attorney for Centurion.

           99.1  Annual Servicing Statement Delivered to the Trustee.

           99.2  Annual Accountant's Report of Ernst & Young LLP.

           99.3  Annual Report Containing Aggregated Information for the  Fiscal
                 Year.




                                            - 8 -

<PAGE>


                                   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.

                            AMERICAN EXPRESS MASTER TRUST


                            AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION,
                            Co-Originator of the Trust and Registrant


                            By: /s/ Leslie R. Scharfstein
                                -------------------------------
                                Leslie R. Scharfstein
                                President



     Pursuant to the  requirements of the Securities  Exchange Act of 1934, this
report has been signed by the following persons in the capacities indicated.


Signature                                    Title

         *
-------------------------
Richard K. Goeltz                            Director


         *
-------------------------
Jay B. Stevelman                             Director


         *
-------------------------
Walker C. Tompkins, Jr.                      Director


         *
-------------------------
Leslie R. Scharfstein                        President
                                             (Principal Executive Officer)

         *
-------------------------
John D. Koslow                               Vice President and Treasurer
                                             (Principal Finance Officer and
                                             Principal Accounting Officer)

*By: /s/ Leslie R. Scharfstein
     -------------------------
     Leslie R. Scharfstein
     Attorney-in-Fact


Dated:  March 29, 2000






                                        - 9 -
<PAGE>


                                   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.

                            AMERICAN EXPRESS MASTER TRUST


                            AMERICAN EXPRESS CENTURION BANK,
                            Co-originator of the Trust and Registrant


                            By: /s/ Rhonda Halpern
                                ---------------------------
                                Rhonda Halpern
                                Chief Financial Officer,
                                Treasurer and Chief Compliance Officer


     Pursuant to the  requirements of the Securities  Exchange Act of 1934, this
report has been signed by the following persons in the capacities indicated.

Signature                                    Title

        *
------------------------
Frank L. Skillern                            Director and Chairman

        *
------------------------
David E. Poulsen                             Director, President and
                                             Chief Executive Officer
        *
------------------------
Gilbert E. Ahye                              Director


------------------------
Maria J. Garciaz                             Director

        *
------------------------
Ash Gupta                                    Director


------------------------
Peter A. Lefferts                            Director

        *
------------------------
Raymond F. Pettit                            Director

        *
------------------------
Roslyn M. Watson                             Director

        *
------------------------
James F. Welch                               Director




*By:  /s/ Robert D. Kraus
     --------------------
     Robert D. Kraus
     Attorney-in-Fact


Dated:  March 29, 2000



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<PAGE>


                              EXHIBIT INDEX

     The  following  exhibits are filed as part of this Annual  Report or, where
indicated,  were  heretofore  filed and are  hereby  incorporated  by  reference
(*indicates exhibits electronically filed herewith).

       Description

4.1    Master Pooling and Servicing  Agreement, dated as of June 30, 1992, among
       American  Express  Receivables   Financing  Corporation,  as  Transferor,
       American Express Travel Related Services Company, Inc.,  as Servicer, and
       The Bank of  New York, as Trustee (incorporated by reference to Exhibit 1
       of Form 8-K of the registrant dated August 3, 1992, File No. 33-49106).

4.2    Amendment  No. 1 to Master Pooling and Servicing  Agreement,  dated as of
       September 8, 1993,   among   American   Express   Receivables   Financing
       Corporation, as Transferor,  American  Express  Travel  Related  Services
       Company,  Inc., as  Servicer, and  The  Bank  of  New  York,  as  Trustee
       (incorporated by reference  to Exhibit 1.2 of Form 8-A of the  registrant
       dated October 15, 1996, File No. 33-49106).

4.3    Amendment No. 2  to Master Pooling and Servicing Agreement, dated  as  of
       July 15, 1994, among American Express Receivables Financing  Corporation,
       as Transferor, American Express Travel Related  Services  Company,  Inc.,
       as  Servicer,  and  The  Bank  of  New York, as Trustee  (incorporated by
       reference to Exhibit 2 of Form 8-K of the registrant dated July 15, 1994,
       File No.  33-49106).

4.4    Amendment  No. 3  to Master  Pooling and  Servicing  Agreement,  dated as
       of September 12,  1994, among  American  Express  Receivables   Financing
       Corporation, as Transferor,  American  Express  Travel  Related  Services
       Company, Inc., as  Servicer,  and  The  Bank  of  New  York,  as  Trustee
       (incorporated  by  reference  to  Exhibit 2 of Form 8-K of the registrant
       dated September 12, 1994, File No. 33-49106).

4.5    Amendment  No. 4 to  Master  Pooling and  Servicing  Agreement,  dated as
       of  January  17,  1996,  among  American  Express  Receivables  Financing
       Corporation,  as  Transferor,  American  Express  Travel Related Services
       Company,  Inc.,  as  Servicer,  and  The  Bank  of  New  York, as Trustee
       (incorporated  by  reference  to  Exhibit 2 of Form 8-K of the registrant
       dated January 17, 1996, File No. 33-49106).

4.6    Amendment  No. 5  to Master  Pooling and  Servicing  Agreement,  dated as
       of  March  27, 1997,   among   American   Express  Receivables  Financing
       Corporation,  as  Transferor,  American  Express  Travel Related Services
       Company,  Inc., as  Servicer,  and  The  Bank  of  New  York,  as Trustee
       (incorporated by reference to Exhibit 4.6 of Form 10-K of the  registrant
       dated   March  26,  1998,  File  Nos. 33-47812,  33-49106,  33-67502  and
       33-81634).

4.7    Amended and Restated  Master Pooling and Servicing  Agreement,  dated  as
       of May 1, 1998, among American Express Receivables Financing  Corporation
       and  American  Express  Centurion Bank, as Transferors,  American Express
       Travel Related Services Company,  Inc., as Servicer,  and The Bank of New
       York, as  Trustee  (incorporated  by  reference  to  Exhibit  4.1 of Form
       8-K of the registrants dated May 27, 1998, File Nos. 33-47812,  33-49106,
       33-67502, 33-81634, 333-51045, 000-21424 and 000-21424-01).

4.8    Series 1993-1  Supplement,  dated  as  of  September 1, 1993,  to  Master
       Pooling  and  Servicing Agreement (incorporated by reference to Exhibit 2
       of  Form 8-K  of  the  registrant  dated  September  22, 1993,  File  No.
       33-47812).

4.9    Series 1994-2  Supplement,  dated  as  of  September 1, 1994,  to  Master
       Pooling  and  Servicing Agreement (incorporated by reference to Exhibit 6
       of  Form 8-K  of  the  registrant  dated  September  12, 1994,  File  No.
       33-47812).





                                        - 11 -

<PAGE>

4.10   Series 1994-3  Supplement,  dated  as  of  September 1, 1994,  to  Master
       Pooling  and  Servicing Agreement (incorporated by reference to Exhibit 7
       of  Form 8-K  of  the  registrant  dated  September  12, 1994,  File  No.
       33-47812).

4.11   Series 1996-1  Supplement, dated  as  of  September 18, 1996,  to  Master
       Pooling  and  Servicing  Agreement  (incorporated by reference to Exhibit
       20.1  of  Form 8-K  of the  registrant dated September 18, 1996, File No.
       33-47812).

4.12   Series 1996-2  Supplement, dated  as  of  September 18, 1996,  to  Master
       Pooling and  Servicing  Agreement (incorporated  by reference to  Exhibit
       20.2 of  Form 8-K  of  the  registrant dated September 18, 1996, File No.
       33-47812).

4.13   Series 1998-1 Supplement,  dated as of May 27,  1998,  to the Amended and
       Restated Master Pooling and Servicing  Agreement, dated as of May 1, 1998
       (incorporated by reference to Exhibit 4.2 of Form 8-K  of  the registrant
       dated May 27, 1998,  File Nos. 33-47812,  33-49106,  33-67502,  33-81634,
       333-51045, 000-21424 and 000-21424-01).

10.1   Receivable Purchase  Agreement,  dated  as  of  June  30,  1992,  between
       American  Express Receivables Financing Corporation,  as  purchaser,  and
       American  Express  Travel  Related  Services  Company,  Inc.,  as  seller
       (incorporated by reference to Exhibit 4(b) to the Registration  Statement
       filed on behalf of American Express Master Trust, Series 1992-1, File No.
       33-47812).

10.2   Amendment No. 1 to Receivable Purchase Agreement, dated  as  of September
       12, 1994, between American Express Receivables  Financing Corporation, as
       purchaser, and American Express Travel Related Services Company, Inc., as
       seller (incorporated  by  reference  to  Exhibit 4 of  Form  8-K  of  the
       registrant dated September 12, 1994, File No. 33-47812).

10.3   Amendment No. 2 to  Receivable Purchase  Agreement, dated as of August 7,
       1997, between  American  Express  Receivables  Financing  Corporation, as
       purchaser, and American Express Travel Related Services Company, Inc., as
       seller (incorporated by  reference  to  Exhibit  20.3 of Form  8-K of the
       registrant dated August 14, 1997, File No. 33-47812).

24.1*  Power of Attorney for RFC.

24.2*  Power of Attorney for Centurion.

99.1*  Annual Servicing Statement Delivered to the Trustee.

99.2*  Annual Accountant's Report of Ernst & Young LLP.

99.3*  Annual Report Containing Aggregated Information for the Fiscal Year.









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