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 months ended Sept. 30,			Three months ended Sept. 30,			Year ended December 31,
		2003			2003			2002			2001			2000			1999			1998
Earnings:
Income from continuing operations before income taxes	$	2,826		$	1,046		$	2,292		$	1,541		$	5,925		$	3,919		$	4,498
Adjustments:
Fixed charges:
Interest on borrowed funds		1,086			351			1,610			2,816			3,912			3,182			2,568
1/3 of rent		62			21			88			97			105			124			116
Preferred dividends		21			7			27			44			64			83			96
Adjusted earnings	$	3,995		$	1,425		$	4,017		$	4,498		$	10,006		$	7,308		$	7,278
Fixed charges and preferred dividends	$	1,169		$	379		$	1,725		$	2,957		$	4,081		$	3,389		$	2,780
Adjusted earnings/fixed charges		3.42	x		3.76	x		2.33	x		1.52	x		2.45	x		2.16	x		2.62	x

INCLUDING INTEREST ON DEPOSITS

(dollars in millions)

	Nine months ended Sept. 30,			Three months ended Sept. 30,			Year ended December 31,
		2003			2003			2002			2001			2000			1999			1998
Earnings:
Income from continuing operations before income taxes	$	2,826		$	1,046		$	2,292		$	1,541		$	5,925		$	3,919		$	4,498
Adjustments:
Fixed charges:
Interest on borrowed funds		1,086			351			1,610			2,816			3,912			3,182			2,568
1/3 of rent		62			21			88			97			105			124			116
Interest on deposits		1,056			322			2,072			3,501			4,412			4,154			4,307
Preferred dividends		21			7			27			44			64			83			96
Adjusted earnings	$	5,051		$	1,747		$	6,089		$	7,999		$	14,418		$	11,462		$	11,585
Fixed charges and preferred dividends	$	2,225		$	701		$	3,797		$	6,458		$	8,493		$	7,543		$	7,087
Adjusted earnings/fixed charges		2.27	x		2.49	x		1.60	x		1.24	x		1.70	x		1.52	x		1.63	x

EXHIBIT 12 (continued)

FLEETBOSTON FINANCIAL CORPORATION

COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS

TO FIXED CHARGES

EXCLUDING INTEREST ON DEPOSITS

(dollars in millions)

	Nine months ended Sept. 30,			Three months ended Sept. 30,			Year ended December 31,
		2003			2003			2002			2001			2000			1999			1998
Earnings:
Income from continuing operations before income taxes	$	2,826		$	1,046		$	2,292		$	1,541		$	5,925		$	3,919		$	4,498
Adjustments:
Fixed charges:
Interest on borrowed funds		1,086			351			1,610			2,816			3,912			3,182			2,568
1/3 of rent		62			21			88			97			105			124			116
Adjusted earnings	$	3,974		$	1,418		$	3,990		$	4,454		$	9,942		$	7,225		$	7,182
Fixed charges	$	1,148		$	372		$	1,698		$	2,913		$	4,017		$	3,306		$	2,684
Adjusted earnings/fixed charges		3.46	x		3.81	x		2.35	x		1.53	x		2.47	x		2.19	x		2.68	x

INCLUDING INTEREST ON DEPOSITS

(dollars in millions)

	Nine months ended Sept. 30,			Three months ended Sept. 30,			Year ended December 31,
		2003			2003			2002			2001			2000			1999			1998
Earnings:
Income from continuing operations before income taxes	$	2,826		$	1,046		$	2,292		$	1,541		$	5,925		$	3,919		$	4,498
Adjustments:
Fixed charges:
Interest on borrowed funds		1,086			351			1,610			2,816			3,912			3,182			2,568
1/3 of rent		62			21			88			97			105			124			116
Interest on deposits		1,056			322			2,072			3,501			4,412			4,154			4,307
Adjusted earnings	$	5,030		$	1,740		$	6,062		$	7,955		$	14,354		$	11,379		$	11,489
Fixed charges	$	2,204		$	694		$	3,770		$	6,414		$	8,429		$	7,460		$	6,991
Adjusted earnings/fixed charges		2.28	x		2.51	x		1.61	x		1.24	x		1.70	x		1.53	x		1.64	x

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