Exhibit (12)(b)

WACHOVIA CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS

					Nine
					Months			Years Ended December 31,
					Ended
					Sept. 30,
(In millions)					2003			2002		2001		2000		1999		1998
EXCLUDING INTEREST ON DEPOSITS
	Pretax income from continuing operations				$	4,515			4,667		2,293		632		4,831		3,965
	Fixed charges, excluding preferred stock dividends and capitalized interest					1,800			2,500		3,734		4,963		3,751		3,504
		Earnings	(A	)	$	6,315			7,167		6,027		5,595		8,582		7,469
Interest, excluding interest on deposits					$	1,658			2,333		3,581		4,828		3,645		3,395
One-third of rents						142			167		153		135		106		109
Preferred stock dividends						5			19		6		—		—		—
Capitalized interest						—			—		—		—		—		—
		Fixed charges	(B	)	$	1,805			2,519		3,740		4,963		3,751		3,504
Consolidated ratios of earnings to fixed charges and preferred stock dividends, excluding interest on deposits			(A)/	(B)		3.50	X		2.85		1.61		1.13		2.29		2.13
INCLUDING INTEREST ON DEPOSITS
	Pretax income from continuing operations				$	4,515			4,667		2,293		632		4,831		3,965
	Fixed charges, excluding preferred stock dividends and capitalized interest					3,592			5,930		8,478		10,232		7,805		7,820
		Earnings	(C	)	$	8,107			10,597		10,771		10,864		12,636		11,785
Interest, including interest on deposits					$	3,450			5,763		8,325		10,097		7,699		7,711
One-third of rents						142			167		153		135		106		109
Preferred stock dividends						5			19		6		—		—		—
Capitalized interest						—			—		—		—		—		—
		Fixed charges	(D	)	$	3,597			5,949		8,484		10,232		7,805		7,820
Consolidated ratios of earnings to fixed charges and preferred stock dividends, including interest on deposits			(C)/	(D)		2.25	X		1.78		1.27		1.06		1.62		1.51