UNITED STATES
                                       SECURITIES AND EXCHANGE COMMISSION
                                            Washington, D.C.  20549
                                                    FORM 13F
                                              FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: 12/31/2000

Check here if Amendment       [ ]             Amendment Number:

This Amendment                [ ]             is a restatement
                              [ ]             adds new holding entries

Institutional Investment Manager Filing this Report:

Name:       THE ROYAL BANK OF SCOTLAND GROUP
Address:    1-2 FINSBURY SQUARE
            LONDON  EC2A 1AA


13F File Number: 28-05954

The institutional investment Manager filing this report and the
person by whom it is signed hereby represent that the person signing
the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered intergral parts of
this form.

Person Signing this Report on Behalf of Reporting Manager:

Name: W D R Swanney Esq
Title: DIRECTOR, GROUP COMPLIANCE
Phone:
Signature, Place, and Date of Signing:

1    LONDON, ENGLAND    02132001

Report Type     (Check only one)
                [ ]            13F HOLDINGS REPORT
                [X]            13F NOTICE
                [ ]            13F COMBINATION REPORT


I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934