Exhibit 12.01

CITIGROUP INC.

CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

	Year ended December 31,
In millions of dollars, except for ratios	2008(1)(2)			2007(1)(2)		2006(1)(2) (3)(4)		2005(1)(2) (3)(4)		2004(1)(2) (3)(4)
EXCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense (other than interest on deposits)	$	33,240		$	48,480	$	34,743	$	22,298	$	12,507
Interest factor in rent expense		810			672		556		502		474
Total fixed charges	$	34,050		$	49,152	$	35,299	$	22,800	$	12,981
Income
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes	$	(53,055	)	$	776	$	28,489	$	28,557	$	21,416
Fixed charges (excluding preferred stock dividends)		34,050			49,152		35,299		22,800		12,981
Total income	$	(19,005	)	$	49,928	$	63,788	$	51,357	$	34,397
Ratio of income to fixed charges excluding interest on deposits		NM			1.02		1.81		2.25		2.65
INCLUDING INTEREST ON DEPOSITS:
Fixed Charges
Interest expense	$	52,963		$	76,051	$	55,683	$	35,631	$	21,029
Interest factor in rent expense		810			672		556		502		474
Total fixed charges	$	53,773		$	76,723	$	56,239	$	36,133	$	21,503
Income
Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes	$	(53,055	)	$	776	$	28,489	$	28,557	$	21,416
Fixed charges (excluding preferred stock dividends)		53,773			76,723		56,239		36,133		21,503
Total income	$	718		$	77,499	$	84,728	$	64,690	$	42,919
Ratio of income to fixed charges including interest on deposits		NM			1.01		1.51		1.79		2.00

(1) On July 11, 2008, the Company announced an agreement to sell its German retail banking operations to Credit Mutuel. Citigroup reports these businesses separately as discontinued operations in the Company’s Consolidated Statement of Income. The calculation of the ratio of income to fixed charges excludes discontinued operations. Prior periods have been restated on a comparable basis.

(2) On April 17, 2008, Citigroup announced an agreement to sell most of Citigroup’s CitiCapital business unit to GE Capital. Citigroup reports these businesses separately as discontinued operations in the Company’s Consolidated Statement of Income. The calculation of the ratio of income to fixed charges excludes discontinued operations. Prior periods have been restated on a comparable basis.

(3) On December 1, 2005, Citigroup completed the sale of substantially all of Citigroup’s Asset Management Business to Legg Mason, Inc. Citigroup reports these businesses separately as discontinued operations in the Company’s Consolidated Statement of Income.

(4) On July 1, 2005, Citigroup completed the sale of Citigroup’s Travelers Life & Annuity and substantially all of Citigroup’s international insurance businesses to MetLife, Inc. Citigroup reports these businesses separately as discontinued operations in the Company’s Consolidated Statement of Income.