Exhibit 12.2

JPMORGAN CHASE & CO.

Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements

Three months ended March 31, (in millions, except ratios)	2009
Excluding interest on deposits
Income before income tax expense and extraordinary gain	$	3,056
Fixed charges:
Interest expense		2,873
One-third of rents, net of income from subleases (a)		143
Total fixed charges		3,016
Add: Equity in undistributed loss of affiliates		34
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest	$	6,106
Fixed charges, as above	$	3,016
Preferred stock dividends (pre-tax)		750
Fixed charges including preferred stock dividends	$	3,766
Ratio of earnings to fixed charges and preferred stock dividend requirements		1.62
Including interest on deposits
Fixed charges including preferred stock dividends, as above	$	3,766
Add: Interest on deposits		1,686
Total fixed charges including preferred stock dividends and interest on deposits	$	5,452
Income before income tax expense and extraordinary gain and fixed charges, excluding capitalized interest, as above	$	6,106
Add: Interest on deposits		1,686
Total income before income tax expense and extraordinary gain, fixed charges and interest on deposits	$	7,792
Ratio of earnings to fixed charges and preferred stock dividend requirements		1.43

^(a) The proportion deemed representative of the interest factor.