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
- --------------------------------------------------------------------------------------------------------------------------
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
Month end Gross Expense Gross Charge Excess Excess Transferor Interest
Yield (%) Rate (%) Off Rate (%) Spread (%) Spread (%) % Min %
Roll 1/4 Ave
30 Jun 2006 18.97% 5.82% 6.46% 6.69% 6.44% 40.08% 6%
31 May 2006 19.69% 5.64% 7.35% 6.71% 6.50% 41.07% 6%
30 Apr 2006 16.60% 4.96% 5.72% 5.92% 6.36% 41.51% 6%
31 Mar 2006 20.15% 6.03% 7.25% 6.87% 6.79% 41.18% 6%
28 Feb 2006 16.86% 5.09% 5.48% 6.29% N/A 43.52% 6%
31 Jan 2006 18.43% 5.46% 5.77% 7.19% N/A 44.22% 6%
Delinquencies (Principal receivables which are 30 days or more past due)
(% Pool)
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Month end 30-59 days 60-89 days 90-179 days 180+ days Total
- --------- ---------- ---------- ----------- --------- -----
30 Jun 2006 1.22% 0.97% 2.45% 3.39% 8.03%
31 May 2006 1.24% 1.01% 2.35% 3.28% 7.88%
30 Apr 2006 1.32% 0.98% 2.30% 3.28% 7.88%
31 Mar 2006 1.25% 0.96% 2.27% 3.17% 7.65%
28 Feb 2006 1.27% 0.92% 2.19% 3.07% 7.46%
31 Jan 2006 1.21% 0.88% 2.15% 2.93% 7.17%
Payment Rate
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 1,302,500 24.99% 4,996,352
28 Feb 2006 1,071,000 20.31% 5,212,805
31 Jan 2006 1,239,187 23.00% 5,272,903
Average Actual Balance: (pound) 1,092
Number of Accounts: 4,495,505
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: Patrick Neville
Title: Director, Finance, Cards Business