EXHIBIT 12.2

JPMORGAN CHASE & CO.

Computation of Ratio of Earnings to Fixed Charges

and Preferred Stock Dividend Requirements

Six months ended June 30, (in millions, except ratios)		2012
Excluding interest on deposits
Income before income tax expense	$	13,981
Fixed charges:
Interest expense		4,529
One-third of rents, net of income from subleases (a)		279
Total fixed charges		4,808
Add:  Equity in undistributed loss of affiliates		44
Income before income tax expense and fixed charges, excluding capitalized interest	$	18,833
Fixed charges, as above	$	4,808
Preferred stock dividends (pre-tax)		453
Fixed charges including preferred stock dividends	$	5,261
Ratio of earnings to fixed charges and preferred stock dividend requirements		3.58
Including interest on deposits
Fixed charges including preferred stock dividends, as above	$	5,261
Add:  Interest on deposits		1,459
Total fixed charges including preferred stock dividends and interest on deposits	$	6,720
Income before income tax expense and fixed charges, excluding capitalized interest, as above	$	18,833
Add:  Interest on deposits		1,459
Total income before income tax expense, fixed charges and interest on deposits	$	20,292
Ratio of earnings to fixed charges and preferred stock dividend requirements		3.02

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