Exhibit 20.1
ARRAN FUNDING LIMITED - SERIES 05-A
FORM OF MONTHLY SERVICER'S REPORT
Bloomberg Ticker Number: ARRAN2005
Arran Funding Limited - Series: 05-A
ABS - Credit Card - Bank, Closing Date: December 15, 2005
As at: July 17, 2006
RATING (S&P/Moodys/Fitch) POOLFACTOR PAY COUPON
TRANCHE CURRENCY ORIGINAL CURRENT ORIGINAL CURRENT FREQUENCY BASIS CURRENT
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Class A USD AAA /Aaa/AAA AAA /Aaa/AAA 100% 100% Monthly 1 Mth LIBOR + 0.02% 5.21875%
Class B USD A/A1/A A/A1/A 100% 100% Monthly 1 Mth LIBOR + 0.18% 5.37875%
Class C USD BBB/Baa2/NR BBB/Baa2/NR 100% 100% Monthly 1 Mth LIBOR + 0.32% 5.51875%
Scheduled start of Controlled Accumulation Period: 1 June, 2007
Expected maturity: 15 December, 2008
Legal final maturity: 15 December, 2010
Structure: Sr/sub Seq Pay
Tax Election: Debt
Amort. Type: Soft Bullet
Transferors: The Royal Bank of Scotland plc / National Westminster Bank plc
Originators: The Royal Bank of Scotland plc / National Westminster Bank plc
Servicer: RBS Cards, a division of The Royal Bank of Scotland plc
Trustee: Bank of New York (The)
Underwriter: The Royal Bank of Scotland plc
Pool Performance
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Month end Gross Expense Gross Charge Net Charge Excess Excess Transferor Interest
Yield (%) Rate (%) Off Rate (%) Off Rate (%) Spread (%) Spread (%) % Min %
Roll 1/4 Ave
30 Jun 2006 20.24% 5.82% 7.04% 6.81% 7.61% 7.44% 41.13% 6%
31 May 2006 21.17% 5.64% 7.96% 7.76% 7.77% 7.62% 42.10% 6%
30 Apr 2006 17.93% 4.94% 6.19% 6.04% 6.95% 7.50% 42.57% 6%
31 Mar 2006 21.86% 6.03% 7.79% 7.68% 8.15% 7.98% 42.14% 6%
28 Feb 2006 18.24% 5.09% 5.88% 5.76% 7.40% N/A 44.54% 6%
31 Jan 2006 19.99% 5.44% 6.22% 6.17% 8.38% N/A 45.20% 6%
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Delinquencies (loans which are 30 days or more past due)
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(% Pool)
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Month end 30-59 days 60-89 days 90-179 days 180+ days Total
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30 Jun 2006 1.27% 1.02% 2.59% 3.59% 8.47%
31 May 2006 1.29% 1.06% 2.48% 3.47% 8.31%
30 Apr 2006 1.37% 1.03% 2.43% 3.47% 8.30%
31 Mar 2006 1.29% 1.01% 2.40% 3.36% 8.06%
28 Feb 2006 1.32% 0.97% 2.32% 3.24% 7.85%
31 Jan 2006 1.27% 0.93% 2.27% 3.11% 7.58%
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Payment Rate
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Payments Pool balance
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Month End Total ((pound)000) Rate (%) (pound)000
30 Jun 2006 1,144,949 22.93% 4,911,036
31 May 2006 1,202,916 23.90% 4,992,642
30 Apr 2006 977,762 19.57% 5,033,594
31 Mar 2006 1,302,499 24.99% 4,996,352
28 Feb 2006 1,071,000 20.30% 5,212,805
31 Jan 2006 1,239,175 23.00% 5,275,021
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Average Actual Balance: (pound) 1,092
Number of Accounts: 4,495,505
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IN WITNESS WHEREOF, the undersigned has duly executed this Monthly Servicer's
Report as of the 17th day of July, 2006.
The Royal Bank of Scotland plc, as Servicer
By:
Name: Colin Baillie
Title: Director, Finance, Cards Business