EXHIBIT 12

FLEETBOSTON FINANCIAL CORPORATION
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED DIVIDENDS

EXCLUDING INTEREST ON DEPOSITS
(dollars in millions)

			Nine			Three
			months			months
			ended			ended
			Sept. 30,			Sept. 30,			Year ended December 31,
				2002			2002			2001			2000			1999			1998			1997
Earnings:
	Income from continuing operations before income taxes		$	1,844		$	898		$	1,524		$	5,979		$	3,949		$	4,481		$	4,252
Adjustments:
	Fixed charges:
		Interest on borrowed funds		1,234			376			2,816			3,912			3,182			2,568			2,026
		1/3 of rent		67			21			97			106			124			117			116
	Preferred dividends			20			7			44			64			83			96			155
Adjusted earnings			$	3,165		$	1,302		$	4,481		$	10,061		$	7,338		$	7,262		$	6,549
Fixed charges and preferred dividends			$	1,321		$	404		$	2,957		$	4,082		$	3,389		$	2,781		$	2,297
Adjusted earnings/fixed charges				2.40	x		3.22	x		1.52	x		2.46	x		2.17	x		2.61	x		2.85	x

INCLUDING INTEREST ON DEPOSITS
(dollars in millions)

			Nine			Three
			months			months
			ended			ended
			Sept. 30,			Sept. 30,			Year ended December 31,
				2002			2002			2001			2000			1999			1998			1997
Earnings:
	Income from continuing operations before income taxes		$	1,844		$	898		$	1,524		$	5,979		$	3,949		$	4,481		$	4,252
Adjustments:
	Fixed charges:
		Interest on borrowed funds		1,234			376			2,816			3,912			3,182			2,568			2,026
		1/3 of rent		67			21			97			106			124			117			116
		Interest on deposits		1,646			497			3,501			4,412			4,154			4,306			3,961
	Preferred dividends			20			7			44			64			83			96			155
Adjusted earnings			$	4,811		$	1,799		$	7,982		$	14,473		$	11,492		$	11,568		$	10,510
Fixed charges and preferred dividends			$	2,967		$	901		$	6,458		$	8,494		$	7,543		$	7,087		$	6,258
Adjusted earnings/fixed charges				1.62	x		2.00	x		1.24	x		1.70	x		1.52	x		1.63	x		1.68	x

EXHIBIT 12 (continued)
FLEETBOSTON FINANCIAL CORPORATION
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES

EXCLUDING INTEREST ON DEPOSITS
(dollars in millions)

			Nine				Three
			months				months
			ended				ended
			Sept. 30,				Sept. 30,				Year ended December 31,
			2002			2002				2001				2000				1999				1998				1997
Earnings:
	Income from continuing operations before income taxes		$	1,844			$	898			$	1,524			$	5,979			$	3,949			$	4,481			$	4,252
Adjustments:
	Fixed charges:
		Interest on borrowed funds		1,234				376				2,816				3,912				3,182				2,568				2,026
		1/3 of rent		67				21				97				106				124				117				116
Adjusted earnings			$	3,145			$	1,295			$	4,437			$	9,997			$	7,255			$	7,166			$	6,394
Fixed charges			$	1,301			$	397			$	2,913			$	4,018			$	3,306			$	2,685			$	2,142
Adjusted earnings/fixed charges				2.42	x			3.26	x			1.52	x			2.49	x			2.19	x			2.67	x			2.98	x

INCLUDING INTEREST ON DEPOSITS
(dollars in millions)

			Nine				Three
			months				months
			ended				ended
			Sept. 30,				Sept. 30,				Year ended December 31,
			2002			2002				2001				2000				1999				1998				1997
Earnings:
	Income from continuing operations before income taxes		$	1,844			$	898			$	1,524			$	5,979			$	3,949			$	4,481			$	4,252
Adjustments:
	Fixed charges:
		Interest on borrowed funds		1,234				376				2,816				3,912				3,182				2,568				2,026
		1/3 of rent		67				21				97				106				124				117				116
		Interest on deposits		1,646				497				3,501				4,412				4,154				4,306				3,961
Adjusted earnings			$	4,791			$	1,792			$	7,938			$	14,409			$	11,409			$	11,472			$	10,355
Fixed charges			$	2,947			$	894			$	6,414			$	8,430			$	7,460			$	6,991			$	6,103
Adjusted earnings/fixed charges				1.63	x			2.00	x			1.24	x			1.71	x			1.53	x			1.64	x			1.70	x