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: March 15, 2007
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% 5.34000%
Class B USD A/A1/A A/A1/A 100% 100% Monthly 1 Mth LIBOR + 0.18% 5.50000%
Class C USD BBB/Baa2/NR BBB/Baa2/NR 100% 100% Monthly 1 Mth LIBOR + 0.32% 5.64000%
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
New Issuance during period On 1 February 2007 the Issuer issued EUR 51,200,000 Series
2007-A Class A2 Asset Backed Floating Rate Notes due 2014 and
GBP 24,000,000 Series 2007-A Class A3 Asset Backed Floating Rate
Notes due 2014
Pool Performance
Month end Gross Expense Gross Charge Excess Excess Transferor Interest
Yield (%) Rate (%) Off Rate (%) Spread (%) Spread (%) % Min %
Roll 1/4 Ave
28 Feb 2007 18.30% 5.86% 6.60% 5.84% 6.11% 37.02% 6%
31 Jan 2007 20.92% 6.23% 7.61% 7.08% 6.13% 39.42% 6%
31 Dec 2006 19.19% 6.43% 7.34% 5.42% 5.80% 41.40% 6%
30 Nov 2006 19.49% 5.97% 7.62% 5.90% 5.43% 40.72% 6%
31 Oct 2006 20.51% 5.76% 8.66% 6.09% 5.27% 41.87% 6%
30 Sep 2006 17.88% 5.90% 7.67% 4.31% 5.32% 38.17% 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
- --------- ---------- ---------- ----------- --------- -----
28 Feb 2007 1.23% 0.96% 2.48% 3.79% 8.46%
31 Jan 2007 1.20% 0.96% 2.42% 3.67% 8.25%
31 Dec 2006 1.20% 0.97% 2.36% 3.57% 8.09%
30 Nov 2006 1.24% 0.96% 2.40% 3.56% 8.16%
31 Oct 2006 1.24% 0.95% 2.39% 3.48% 8.05%
30 Sep 2006 1.26% 1.01% 2.43% 3.63% 8.34%
Payment Rate
Payments Pool balance
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Month End Total ((pound)000) Rate (%) (pound)000
28 Feb 2007 1,023,326 21.05% 4,775,517
31 Jan 2007 1,270,169 25.27% 4,861,604
31 Dec 2006 1,103,209 22.21% 5,026,446
30 Nov 2006 1,200,831 23.71% 4,967,182
31 Oct 2006 1,138,033 23.88% 5,063,743
30 Sep 2006 1,033,824 21.48% 4,764,939
Average Actual Balance: (pound) 986
Number of Accounts: 4,843,029
IN WITNESS WHEREOF, the undersigned has duly executed this Monthly Servicer's
Report as of the 15th day of March, 2007.
The Royal Bank of Scotland plc, as Servicer
By:
Name: Patrick Neville
Title: Director, Finance, Cards Business