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): January 25, 1999


                        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
      5.95% Class A Credit Card Participation Certificates, Series 1993-2
      6.15% Class B Credit Card Participation Certificates, Series 1993-2
      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
  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
     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

                                                     [Cover page 1 of 2 pages]


<PAGE>

 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
       5.30% Class A Credit Card Participation Certificates, Series 1998-9
      5.55% Class B Credit Card Participation Certificates, Series 1998-9
                      (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]


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<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 for the
Accounts with respect to cardholder payments for each of the periods shown. For
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 that 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. Neither the Banks
nor the Trust can provide any assurance that the loss and delinquency experience
for the Receivables in the future will be similar to the historical experience
set forth below.

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

                                               Year Ended December 31,
                                       ----------------------------------------
                                            1998         1997         1996
                                            ----         ----         ----
Average Principal
  Receivables Outstanding(2)..........   $36,082,462  $33,529,923  $31,225,337
Net Losses(3).........................    $2,137,557   $2,099,096   $1,678,991
Net Losses as a Percentage of
  Average Principal Receivables
  Outstanding.........................      5.89%        6.26%        5.38%
---------------
(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 each of the years 
      ended December 31, 1998, 1997 and 1996 were 91.56%, 92.49% and 92.46%,
      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.


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<PAGE>

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

                                 As of December 31,
                           ------------------------------
                       1998                 1997                   1996
                    ----------           ----------             ----------

Number of Days  Delinquent Percent-   Delinquent Percent-   Delinquent Percent-
Delinquent      Amount(1)  age(2)     Amount(1)  age(2)     Amount(1)  age(2)
--------------  ---------- --------   ---------- --------   ---------- --------

35-64 days..    $669,655     1.83%    $683,773     2.01%    $714,532     2.25%
65-94 days..     391,200     1.07      389,897     1.15      394,432     1.25
95 days or more. 701,872     1.92      699,696     2.06      687,988     2.17
                --------     -----    --------     -----    --------     -----
  Total...... $1,762,727     4.82%  $1,773,366     5.22%  $1,796,952     5.67%
-----------

(1)   The Delinquent Amount includes both 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 each year of the three-year period ended
December 31, 1998 are set forth in the following table.

      The revenue experience in this 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.


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<PAGE>

                                    Revenue Experience for the Accounts
                                          (Dollars in Thousands)

                                          Year Ended December 31,
                                    ------------------------------------
                                       1998         1997         1996
                                    ----------   ----------   ----------
Finance Charges and Fees Paid....   $6,768,295   $6,189,383   $5,732,865
Average Revenue Yield(1).........      18.66%       18.46%       18.36%

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

      The revenues from 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 cardholders pay off their entire balance each month, thereby avoiding
periodic finance charges on their purchases)--and upon other card-related
services for which the cardholder pays a fee. 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
may specify that they will treat these fees as Finance Charge Receivables.
Revenues from 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. These
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

      Monthly payment rates on the Receivables may vary because, among other
things, a cardholder may fail to make a required payment, may only make the
minimum required payment or may pay 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 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 CBSD may change).

                            Cardholder Monthly Payment Rates for the Accounts

                                     Year Ended December 31,
                               ------------------------------------
                                 1998          1997          1996
                               --------      --------      --------
Lowest Month.................   19.15%        18.00%        17.65%
Highest Month................   22.31%        21.98%        21.05%
Average of the Months 
in the Period ...............   21.06%        19.92%        19.39%


The Receivables

      The Receivables in the Accounts as of December 26, 1998 included
$591,445,627 of Finance Charge Receivables and $39,178,848,088 of Principal
Receivables (which amounts include overdue Finance Charge Receivables and
overdue Principal Receivables). As of December 26, 1998, there were 31,305,607
Accounts. Included within the Accounts are inactive Accounts that have no
balance. The 


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<PAGE>

Accounts had an average Principal Receivable balance of $1,251 and an average
credit limit of $5,524. The average total Receivable balance in the Accounts as
a percentage of the average credit limit with respect to the Accounts was 23%.
Approximately 93% of the Accounts were opened prior to December 1996. Of the
Accounts, approximately 13.23% related to cardholders with billing addresses in
California, 10.89% in New York, 6.68% in Texas and 5.70% in Florida. 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 13.15% to 20.65%. CBSD may change the periodic finance
charge on accounts at any time by written notice to the cardholders. Any
increase in such finance charge 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, 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
December 26, 1998. References to "Receivables Outstanding" in these 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)...............    245,120    0.78%    $(56,510,485)   (0.14)%
No Balance(2)................... 15,917,538   50.85                0     0.00
Less than or equal to $500.00...  3,437,690   10.98      691,144,577     1.74
$500.01 to $1,000.00............  1,956,638    6.25    1,451,191,761     3.65
$1,000.01 to $2,000.00..........  2,967,366    9.48    4,372,209,826    10.99
$2,000.01 to $3,000.00..........  1,959,064    6.26    4,839,582,595    12.17
$3,000.01 to $4,000.00..........  1,330,745    4.25    4,623,122,446    11.62
$4,000.01 to $5,000.00..........  1,077,328    3.44    4,859,957,873    12.22
$5,000.01 to $6,000.00..........    744,994    2.38    4,078,599,850    10.26
$6,000.01 to $7,000.00..........    499,737    1.60    3,234,881,802     8.13
$7,000.01 to $8,000.00..........    350,754    1.12    2,622,798,970     6.59
$8,000.01 to $9,000.00..........    244,505    0.78    2,072,143,537     5.21
$9,000.01 to $10,000.00.........    180,228    0.58    1,709,660,871     4.30
Over $10,000.00.................    393,900    1.25    5,271,510,092    13.26
                                 ----------  ------- --------------- -----------
   Total........................ 31,305,607  100.00% $39,770,293,715   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 have a
      credit balance are included because Receivables may be generated in these
      Accounts in the future.

(2)   Accounts which have no balance are included because Receivables may be
      generated in these Accounts 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.  1,950,391     6.23%       $70,337,100    0.18%
$500.01 to $1,000.00..........  1,739,162     5.56        387,090,331    0.97
$1,000.01 to $2,000.00........  4,279,693    13.67      2,144,034,444    5.39
$2,000.01 to $3,000.00........  3,416,040    10.91      2,543,740,625    6.40
$3,000.01 to $4,000.00........  2,486,096     7.94      2,392,583,124    6.02
$4,000.01 to $5,000.00........  3,525,637    11.26      3,914,507,350    9.84
Over $5,000.00................ 13,908,588    44.43     28,318,000,741   71.20
                               ----------  ---------  ---------------  ---------
   Total...................... 31,305,607   100.00%   $39,770,293,715  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).................. 29,938,882    95.63%   $35,781,145,362    89.97%
Up to 34 days delinquent....    792,505     2.53      2,226,421,176     5.60
35 to 64 days delinquent....    246,975     0.79        669,655,196     1.68
65 to 94 days delinquent....    122,475     0.39        391,200,184     0.98
95 to 124 days delinquent...     87,932     0.28        292,619,101     0.74
125 to 154 days delinquent..     66,201     0.21        228,632,983     0.57
155 to 184 days delinquent..     50,637     0.17        180,619,713     0.46
                             ----------  ---------  ---------------  -----------
   Total.................... 31,305,607   100.00%   $39,770,293,715   100.00%

-------------------
(1)   Includes Accounts on which the minimum payment has not been received
      before 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.....          0    0.00                 0     0.00
Over 12 months to 24 months....  2,269,289    7.25     2,949,524,429     7.42
Over 24 months to 36 months....  2,739,313    8.75     3,250,376,438     8.17
Over 36 months to 48 months....  4,398,811   14.05     5,270,685,012    13.25
Over 48 months................. 21,898,194   69.95    28,299,707,836    71.16
                                ----------  -------  --------------- -----------
   Total....................... 31,305,607  100.00%  $39,770,293,715   100.00%


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<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 Certificates" means the 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.).


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<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: January 25, 1999


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