SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): October 19, 1998


                        Citibank (South Dakota), N.A.
                                 on behalf of
                      Citibank Credit Card Master Trust I
         (Issuer in respect of the Citibank Credit Card Master Trust I
      7.875% Class A Credit Card Participation Certificates, Series 1991-6
      8.350% Class B Credit Card Participation Certificates, Series 1991-6
      5.95% Class A Credit Card Participation Certificates, Series 1993-2
      6.15% Class B Credit Card Participation Certificates, Series 1993-2
      5.50% Class A Credit Card Participation Certificates, Series 1993-3
      5.70% Class B Credit Card Participation Certificates, Series 1993-3
      7.25% Class A Credit Card Participation Certificates, Series 1994-2
      7.50% Class B Credit Card Participation Certificates, Series 1994-2
      6.80% Class A Credit Card Participation Certificates, Series 1994-3
      7.00% Class B Credit Card Participation Certificates, Series 1994-3
      8.25% Class A Credit Card Participation Certificates, Series 1994-4
      8.25% Class A Credit Card Participation Certificates, Series 1995-1
      8.45% Class B Credit Card Participation Certificates, Series 1995-1
      7.85% Class A Credit Card Participation Certificates, Series 1995-3
      6.55% Class A Credit Card Participation Certificates, Series 1995-9
      6.65% Class B Credit Card Participation Certificates, Series 1995-9
     5.90% Class A Credit Card Participation Certificates, Series 1995-10
     6.05% Class B Credit Card Participation Certificates, Series 1995-10
 Floating Rate Class A Credit Card Participation Certificates, Series 1995-11
  Zero Coupon Class A Credit Card Participation Certificates, Series 1996-1
  Zero Coupon Class B Credit Card Participation Certificates, Series 1996-1
 Floating Rate Class A Credit Card Participation Certificates, Series 1996-5
 Floating Rate Class B Credit Card Participation Certificates, Series 1996-5
 Floating Rate Class A Credit Card Participation Certificates, Series 1996-6
 Floating Rate Class B Credit Card Participation Certificates, Series 1996-6

                                                     [Cover page 1 of 2 pages]


<PAGE>

     6.55% Class A Credit Card Participation Certificates, Series 1997-2
     6.70% Class B Credit Card Participation Certificates, Series 1997-2
     6.839% Class A Credit Card Participation Certificates, Series 1997-3
     6.989% Class B Credit Card Participation Certificates, Series 1997-3
 Floating Rate Class A Credit Card Participation Certificates, Series 1997-4
 Floating Rate Class B Credit Card Participation Certificates, Series 1997-4
  Zero Coupon Class A Credit Card Participation Certificates, Series 1997-6
  Zero Coupon Class B Credit Card Participation Certificates, Series 1997-6
     6.35% Class A Credit Card Participation Certificates, Series 1997-7
     6.45% Class B Credit Card Participation Certificates, Series 1997-7
 Floating Rate Class A Credit Card Participation Certificates, Series 1997-8
 Floating Rate Class A Credit Card Participation Certificates, Series 1997-10
 Floating Rate Class B Credit Card Participation Certificates, Series 1997-10
     5.750% Class A Credit Card Participation Certificates, Series 1998-1
     5.875% Class B Credit Card Participation Certificates, Series 1998-1
      6.05% Class A Credit Card Participation Certificates, Series 1998-2
      6.20% Class B Credit Card Participation Certificates, Series 1998-2
      5.80% Class A Credit Card Participation Certificates, Series 1998-3
      5.95% Class B Credit Card Participation Certificates, Series 1998-3
      5.85% Class A Credit Card Participation Certificates, Series 1998-6
      6.00% Class B Credit Card Participation Certificates, Series 1998-6
  Floating Rate Class A Credit Card Participation Certificates, Series 1998-7
  Floating Rate Class B Credit Card Participation Certificates, Series 1998-7
                       (collectively, the "Certificates"))

              (Exact name of registrant as specified in charter)


    UNITED STATES OF AMERICA                            46-0358360
  (State or other jurisdiction              (I.R.S. Employer Identification No.)
      of incorporation)        

      33-41055, 33-43576, 33-62180, 33-77802, 33-84834, 33-97664, 33-99328
                                  and 333-38803
                            (Commission File Numbers)

    701 EAST 60TH STREET, NORTH
    SIOUX FALLS, SOUTH DAKOTA                                     57117
(Address of principal executive offices)                        (Zip Code)

       Registrant's telephone number, including area code: (605) 331-2626

                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)

                                                  [Cover page 2 of 2 pages]


                                       2


<PAGE>

Item 5.  Other Events.

      The  information  provided below is provided in respect of Citibank Credit
Card Master Trust I. Certain  capitalized  terms used herein are used as defined
in the Glossary of Terms at the end of this Report.

Loss and Delinquency Experience

      The following  tables set forth the loss and  delinquency  experience with
respect  to  payments  by  cardholders  for each of the  periods  shown  for the
Accounts.  With respect to the Loss Experience  table below,  loss experience is
shown on a cash  basis for  Principal  Receivables.  If accrued  Finance  Charge
Receivables which have been written off were included in losses in the following
table,  Net Losses would be higher as an absolute  number and as a percentage of
the average of Principal and Finance Charge  Receivables  outstanding during the
periods  indicated.  There  can be no  assurance  that the loss and  delinquency
experience  for the  Receivables in the future will be similar to the historical
experience set forth below with respect to the Accounts.

<TABLE>
<CAPTION>

                      Loss Experience for the Accounts(1)
                             (Dollars in Thousands)

                                                           Nine Months              Year Ended December 31,
                                                              Ended          -----------------------------------------
                                                       September 30, 1998       1997           1996            1995
                                                      --------------------   -----------    -----------    -----------
<S>                                                         <C>              <C>            <C>            <C>
Average Principal Receivables Outstanding(2).........       $35,599,154      $33,529,923    $31,225,337    $25,083,447

Net Losses(3)........................................         1,625,519       $2,099,096     $1,678,991       $956,261

Net Losses as a Percentage of Average Principal
   Receivables Outstanding(4)........................              6.10%            6.26%          5.38%          3.81%
</TABLE>

---------------
(1) Losses consist of write-offs of Principal Receivables.
(2) Average Principal Receivables Outstanding is the average of Principal
    Receivables outstanding during the periods indicated.
(3) Net losses as a percentage of gross charge-offs for the first nine months of
    1998 were 91.82% and for each of the years ended December 31, 1997, 1996 and
    1995 were 92.49%, 92.46% and 88.49%, respectively. Gross charge-offs are
    charge-offs before recoveries and do not include the amount of any
    reductions in Average Principal Receivables Outstanding due to fraud,
    returned goods, customer disputes or certain other miscellaneous write-offs.
(4) The percentage for the nine months ended September 30, 1998 is an annualized
    number.


                                       3


<PAGE>

<TABLE>
<CAPTION>

                                 Delinquencies as a Percentage of the Accounts(1)(2)
                                               (Dollars in Thousands)

                                                                            As of December 31,
                                As of              -------------------------------------------------------------------
                         September 30, 1998                1997                       1996                     1995
                         -------------------             ---------                ----------                ----------
Number of Days        Delinquent                  Delinquent                Delinquent                 Delinquent
Delinquent             Amount(1) Percentage(2)     Amount(1) Percentage(2)   Amount(1) Percentage(2)    Amount(1) Percentage(2)
--------------        ---------- -------------    ---------- -------------  ---------- -------------  ----------- -------------
<S>                    <C>             <C>        <C>               <C>     <C>               <C>     <C>               <C>

35-64 days........     $742,405        2.05%        $683,773        2.01%     $714,532        2.25%     $699,878        2.75%
65-94 days........      386,889        1.07          389,897        1.15       394,432        1.25       353,832        1.39
95 days or more...      664,282        1.84          699,696        2.06       687,988        2.17       558,613        2.20
                     ---------- -------------     ---------- -------------  ---------- -------------  ---------- --------------
 Total............   $1,793,576        4.96%      $1,773,366        5.22%   $1,796,952        5.67%   $1,612,323        6.34%
</TABLE>
--------------------

(1)   The Delinquent Amount includes both the Principal  Receivables and Finance
      Charge Receivables.

(2)   The  percentages  are the result of dividing the Delinquent  Amount by the
      average of Principal and Finance Charge Receivables outstanding during the
      periods indicated.


Revenue Experience

      The  revenues  for  the  Accounts  from  finance  charges,  fees  paid  by
cardholders and interchange for the nine months ended September 30, 1998 and for
each year of the three-year  period ended December 31, 1997 are set forth in the
following table.

      The revenue experience in the following table is presented on a cash basis
before  deduction  for  charge-offs.  Revenues  from finance  charges,  fees and
interchange will be affected by numerous factors, including the periodic finance
charge on the Receivables,  the amount of any annual  membership fee, other fees
paid by cardholders, the percentage of cardholders who pay off their balances in
full each month and do not incur  periodic  finance  charges on  purchases,  the
percentage of Accounts bearing finance charges at promotional  rates and changes
in the level of delinquencies on the Receivables.


                                       4


<PAGE>

<TABLE>
<CAPTION>

                       Revenue Experience for the Accounts
                             (Dollars in Thousands)

                                                           Nine Months              Year Ended December 31,
                                                              Ended          -----------------------------------------
                                                       September 30, 1998       1997           1996            1995
                                                      --------------------   -----------    -----------    -----------
<S>                                                         <C>              <C>            <C>            <C>
Finance Charges and Fees Paid....................           $4,998,393       $6,189,383     $5,732,865     $4,545,420
Average Revenue Yield (1)(2).....................                18.77%           18.46%         18.36%         18.11%
</TABLE>

(1)   Average  Revenue Yield is the result of dividing  Finance Charges and Fees
      Paid by Average  Principal  Receivables  Outstanding  during  the  periods
      indicated.

(2)   The  percentage  for  the  nine  months  ended  September  30,  1998 is an
      annualized number.

      The  revenues  related to  periodic  finance  charges and fees (other than
annual fees) depend in part upon the collective preference of cardholders to use
their credit cards as revolving debt instruments for purchases and cash advances
and to pay off account  balances over several  months as opposed to  convenience
use (where the  cardholders  prefer instead to pay off their entire balance each
month,  thereby  avoiding  periodic finance charges on purchases) and upon other
services of which the cardholder chooses to avail himself and which are paid for
by the use of the card.  Fees for  these  other  services  will be  treated  for
purposes  of the  Pooling  Agreement  and the  Series  Supplement  as  Principal
Receivables rather than Finance Charge Receivables;  however,  the Banks will be
permitted  to  specify  that any such fees will be  treated  as  Finance  Charge
Receivables.  Revenues  related to periodic finance charges and fees also depend
on the types of charges and fees assessed on the Accounts. Accordingly, revenues
will be affected by future  changes in the types of charges and fees assessed on
the Accounts and in the types of  Additional  Accounts  added from time to time.
Revenues  could be  adversely  affected  by future  changes in fees and  charges
assessed by CBSD and other factors.

      CBSD has previously  reduced the finance charges and reduced or eliminated
the annual fees  applicable to, and modified some other terms of, certain of the
Accounts. These changes have reduced the gross yield of the Accounts.


                                       5


<PAGE>

Cardholder Monthly Payment Rates for the Accounts

      Monthly  payment rates on the  Receivables  may vary because,  among other
things,  cardholders may fail to make a required payment, may only make payments
as low as the  minimum  required  payment  or may make  payments  as high as the
entire  outstanding  balance.  Monthly payment rates on the Receivables may also
vary due to seasonal purchasing and payment habits of cardholders. The following
table sets forth the highest and lowest cardholder monthly payment rates for the
Accounts during any month in the periods shown and the average of the cardholder
monthly  payment  rates for all months  during the periods  shown,  in each case
calculated  as a percentage  of the total  beginning  account  balances for such
month.  Monthly payment rates reflected in the table include amounts which would
be deemed payments of Principal  Receivables and Finance Charge Receivables with
respect to the Accounts. In addition, the amount of outstanding  Receivables and
the rates of payments,  delinquencies,  charge-offs  and new  borrowings  on the
Accounts  depend on a variety  of factors  including  seasonal  variations,  the
availability of other sources of credit, general economic conditions,  tax laws,
consumer  spending and borrowing  patterns and the terms of the Accounts  (which
are subject to change by CBSD).

<TABLE>
<CAPTION>

                Cardholder Monthly Payment Rates for the Accounts

                                              Nine Months                       Year Ended December 31,
                                                 Ended           -------------------------------------------------
                                          September 30, 1998         1997               1996             1995
                                         ---------------------   -------------      -------------    -------------
<S>                                             <C>                  <C>                <C>                 <C>

Lowest Month..............................      19.15%               18.00%             17.65%              17.59%
Highest Month.............................      22.31%               21.98%             21.05%              20.92%
Average of the Months in the Period.......      21.01%               19.92%             19.39%              19.09%
</TABLE>


The Receivables

      The  Receivables  in  the  Accounts  as of  September  27,  1998  included
$621,952,993  of Finance Charge  Receivables  and  $37,292,868,705  of Principal
Receivables  (which  amounts  include  overdue  Finance Charge  Receivables  and
overdue Principal Receivables).  As of September 27, 1998, there were 31,475,193
Accounts.  Included  within the  Accounts  are  inactive  Accounts  that have no
balance.  The Accounts had an average Principal Receivable balance of $1,185 and
an average credit limit of $5,468.  The average total


                                       6


<PAGE>

Receivable  balance in the Accounts as a percentage of the average  credit limit
with  respect to the Accounts was 22%.  Approximately  91% of the Accounts  were
opened prior to September 1996. Approximately 13.23%, 10.92%, 6.68% and 5.66% of
the Accounts related to cardholders having billing addresses in California,  New
York, Texas and Florida,  respectively. Not more than 5% of the Accounts related
to cardholders  having billing addresses in any other single state.

      The periodic finance charge assessed on balances in most accounts for cash
advances and  purchases is  currently  the Prime Rate (as  published in The Wall
Street  Journal)  plus a percentage  ranging from 5.4% to 12.9%.  As of the most
recent  quarterly  reset date,  the periodic  finance charge on balances in most
accounts  ranged from  13.90% to 21.40%.  CBSD may change the  periodic  finance
charge  on  accounts  at any time by  written  notice  to the  cardholders.  Any
announced  increase  in such rate will  become  effective  upon the  earlier  of
subsequent  use of a card and the  expiration  of a 25-day  period from the date
such change was made effective  (assuming  failure on the part of the cardholder
to object  to the new  rate).  CBSD also  offers  promotional  rates of  limited
duration to attract new cardholders and to promote balance  transfers from other
credit card issuers  and,  under  certain  circumstances,  the periodic  finance
charge on a  limited  number  of  accounts  may be  greater  or less than  those
assessed by CBSD generally.

      The  Accounts  consist of  Eligible  Accounts.  The Banks may  (subject to
certain  limitations and  conditions),  and, in certain  circumstances,  will be
obligated to,  designate from time to time Additional  Accounts and to convey to
the Trust all Receivables of such Additional Accounts,  whether such Receivables
are then existing or thereafter created.  The Banks have made Lump Sum Additions
to the Trust which, in the aggregate,  included  approximately $28.38 billion of
Principal Receivables.

      The  following  tables  summarize  the Accounts by various  criteria as of
September 27, 1998.  References to  "Receivables  Outstanding"  in the following
tables  include both  Finance  Charge  Receivables  and  Principal  Receivables.
Because the composition of the Accounts will change in the future,  these tables
are not necessarily indicative of the future composition of the Accounts.


                                       7


<PAGE>

                   Composition of Accounts by Account Balance

                                           Percentage                Percentage
                                            of Total                  of Total
                               Number of    Number of   Receivables  Receivables
         Account Balance       Accounts     Accounts    Outstanding  Outstanding
         ---------------       ----------  ----------  ------------- -----------
Credit Balance(1).............    269,231     0.86%    $(58,156,813)    (0.15)%
No Balance(2)................. 15,850,373    50.36                 0     0.00
Less than or equal to $500.00.  3,782,693    12.02       744,796,251     1.96
$500.01 to $1,000.00..........  2,028,098     6.44     1,502,209,541     3.96
$1,000.01 to $2,000.00........  3,018,069     9.59     4,440,716,099    11.71
$2,000.01 to $3,000.00........  1,947,716     6.19     4,808,652,205    12.68
$3,000.01 to $4,000.00........  1,302,871     4.14     4,524,472,715    11.93
$4,000.01 to $5,000.00........  1,055,470     3.35     4,762,605,122    12.56
$5,000.01 to $6,000.00........    711,539     2.26     3,894,145,410    10.27
$6,000.01 to $7,000.00........    466,443     1.48     3,018,942,344     7.96
$7,000.01 to $8,000.00........    323,084     1.02     2,415,324,721     6.37
$8,000.01 to $9,000.00........    222,671     0.71     1,886,816,826     4.98
$9,000.01 to $10,000.00.......    162,009     0.51     1,536,701,462     4.06
Over $10,000.00...............    334,926     1.07     4,437,595,815    11.71
                               ----------  --------- ---------------  ----------
     Total.................... 31,475,193   100.00%  $37,914,821,698   100.00%

-----------------
(1)   Credit balances are a result of cardholder payments and credit adjustments
      applied in excess of an Account's unpaid balance. Accounts which currently
      have a credit balance are included  because  Receivables  may be generated
      with respect thereto in the future.

(2)   Accounts which currently have no balance are included because  Receivables
      may be generated with respect thereto in the future.


                     Composition of Accounts by Credit Limit

                                            Percentage               Percentage
                                            of Total                  of Total
                                 Number of  Number of   Receivables  Receivables
     Credit Limit                Accounts   Accounts    Outstanding  Outstanding
     ------------                --------- ---------   ------------  -----------
Less than or equal to $500.00..  1,930,373    6.13%     $76,719,720      0.20%
$500.01 to $1,000.00...........  1,817,456    5.77      417,883,975      1.10
$1,000.01 to $2,000.00.........  4,404,646   13.99    2,254,212,831      5.95
$2,000.01 to $3,000.00.........  3,437,749   10.92    2,582,176,091      6.81
$3,000.01 to $4,000.00.........  2,487,318    7.90    2,412,777,745      6.36
$4,000.01 to $5,000.00.........  3,562,279   11.32    3,995,079,157     10.54
Over $5,000.00................. 13,835,372   43.97   26,175,972,179     69.04
                                ---------- --------- --------------  -----------
     Total..................... 31,475,193  100.00% $37,914,821,698    100.00%


                                       8


<PAGE>

                    Composition of Accounts by Payment Status

                                         Percentage                  Percentage
                                         of Total                      of Total
                            Number of    Number of  Receivables      Receivables
     Payment Status         Accounts     Accounts   Outstanding      Outstanding
     ---------------        ----------  ----------  ---------------  -----------

Current(1)................. 29,961,591    95.19%    $33,578,154,075     88.56%
Up to 34 days delinquent...    907,603     2.88       2,543,091,134      6.71
35 to 64 days delinquent...    285,646     0.91         742,405,214      1.96
65 to 94 days delinquent...    124,961     0.40         386,888,575      1.02
95 to 124 days delinquent..     82,405     0.26         270,465,394      0.71
125 to 154 days delinquent.     63,663     0.20         217,354,407      0.57
155 to 184 days delinquent.     49,324     0.16         176,462,899      0.47
                            ----------  ----------  ---------------  -----------
     Total................. 31,475,193   100.00%    $37,914,821,698    100.00%


(1)  Includes Accounts on which the minimum payment has not been received prior
     to the next billing date following the issuance of the related bill.



                         Composition of Accounts by Age

                                           Percentage                Percentage
                                           of Total                  of Total
                               Number of   Number of   Receivables   Receivables
         Age                   Accounts    Accounts    Outstanding   Outstanding
         ---                   ----------  ----------  ------------- -----------
Less than or equal to 6 months.         0     0.00%    $           0     0.00%
Over 6 months to 12 months.....   447,684     1.42       642,183,028     1.69
Over 12 months to 24 months.... 2,481,176     7.88     2,935,433,297     7.74
Over 24 months to 36 months.... 3,125,697     9.93     3,597,682,316     9.49
Over 36 months to 48 months.... 4,718,979    14.99     5,077,471,155    13.39
Over 48 months.................20,701,657    65.78    25,662,051,902    67.69
                               ----------   -------- --------------- -----------
     Total.....................31,475,193   100.00%  $37,914,821,698   100.00%


                                       9


<PAGE>

                                GLOSSARY OF TERMS

"Accounts" means the portfolio of revolving credit card accounts established and
supplemented in accordance with the Pooling Agreement.

"Additional  Accounts"  consist  of newly  originated  Eligible  Accounts  to be
included as Accounts and Accounts relating to any Lump Sum Additions.

"Banks" means Citibank (South Dakota), N.A., a national banking association, and
Citibank (Nevada), National Association, a national banking association.

"CBSD" means Citibank (South Dakota), N.A.

"Eligible  Accounts"  An  "Eligible  Account"  is defined to mean a credit  card
account  owned by CBSD which,  as of the Trust  Cut-Off  Date with respect to an
Initial  Account  or as of  the  additional  cut-off  date  with  respect  to an
Additional  Account:  (a) is in existence and maintained by CBSD; (b) is payable
in  United  States  dollars;  (c) in the  case of the  Initial  Accounts,  has a
cardholder  who has provided,  as his most recent  billing  address,  an address
located in the United States or its  territories  or  possessions  or a military
address;  (d)  has a  cardholder  who  has not  been  identified  by CBSD in its
computer  files as being  involved  in a  voluntary  or  involuntary  bankruptcy
proceeding;  (e) has not been identified as an Account with respect to which the
related  card has been lost or  stolen;  (f) has not been sold or pledged to any
other party;  (g) does not have  receivables  which have been sold or pledged to
any  other  party;  and (h) in the case of the  Initial  Accounts,  is a VISA or
MasterCard revolving credit card account.

"Finance Charge  Receivables"  consist of all periodic finance  charges,  annual
membership  fees,  cash  advance  fees and late  charges on amounts  charged for
merchandise  and services and certain  other fees  designated  by the Banks.  In
addition,  certain Interchange  attributed to cardholder charges for merchandise
and services in the Accounts will be treated as Finance Charge Receivables.

"Interchange"  means  interchange fees payable to Citibank (South Dakota) or any
additional  seller,  in its  capacity  as  credit  card  issuer,  through  VISA,
Mastercard or any other similar entity or organization with respect to any other
type of revolving credit card accounts included as Accounts (except as otherwise
provided  in the  initial  Assignment  with  respect  to any such  other type of
Accounts), in connection with cardholder charges for goods and services.

"Investor  Certificateholders"  means holders of interests in the Class A Credit
Card   Participation   Certificates  and  Class  B  Credit  Card   Participation
Certificates issued by the Trust.

"Lump Sum Addition" means the designation of additional  Eligible Accounts to be
included  as  Accounts  pursuant  to  Section  2.09(a)  or (b)  of  the  Pooling
Agreement.

"Pooling  Agreement"  means the Pooling and Servicing  Agreement dated as of May
29, 1991 among the Banks and the Trustee, including all amendments thereto.

"Principal  Receivables"  consist  of all  amounts  charged by  cardholders  for
merchandise and services,  amounts  advanced to cardholders as cash advances and
certain fees billed to cardholders on the Accounts.

"Receivables"  means all  amounts  shown on the  Servicer's  records  as amounts
payable by the Person or Persons  obligated to make payments with respect to the
Accounts.

"Receivables Outstanding" as defined on page 7.

"Series  Supplement"  means  any  series  supplement  to the  Pooling  Agreement
executed  in  connection  with the  original  issuance  of a series of  Investor
Certificates pursuant to Section 6.03 of the Pooling Agreement.

"Trust" means  Citibank  Credit Card Master Trust I (formerly  known as Standard
Credit Card Master Trust I).

"Trustee"  means  Bankers Trust  Company,  as successor to Yasuda Bank and Trust
Company (U.S.A.).


                                       10


<PAGE>

                                   SIGNATURES

      Pursuant to the  requirements 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.


                                     CITIBANK (SOUTH DAKOTA), N.A.,
                                     as Servicer
                                     (Registrant)


                                     By:  /s/ Eugene D. Rowenhorst
                                        -----------------------------
                                              Eugene D. Rowenhorst
                                              Senior Vice President

Dated: October 19, 1998


                                       11