EXHIBIT 12

HSBC FINANCE CORPORATION
COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES AND TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

Three Months Ended March 31,	2010			2009
	(dollars are
	in millions)
Net income (loss)	$	(603	)	$	872
Income tax benefit (expense)		330			(855	)
Income (loss) before income tax expense (benefit)		(933	)		1,727
Fixed charges:
Interest expense		867			1,167
Interest portion of rentals(1)		5			22
Total fixed charges		872			1,189
Total earnings (loss) as defined	$	(61	)	$	2,916
Ratio of earnings (loss) to fixed charges		(.07	)		2.45
Preferred stock dividends(2)		14			14
Ratio of earnings (loss) to combined fixed charges and preferred stock dividends		(.07	)		2.42

(1)	Represents one-third of rentals, which approximates the portion representing interest.
(2)	Preferred stock dividends are grossed up to their pretax equivalents.