EXHIBIT 12.1

STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES

		Years Ended December 31,
		2004			2003			2002			2001			2000
(Dollars in millions)
(A) Excluding interest on deposits:
Earnings:
Income before income taxes		$	1,231		$	1,123		$	1,554		$	944		$	914
Fixed charges			481			424			552			1,025			1,387
Earnings as adjusted		$	1,712		$	1,547		$	2,106		$	1,969		$	2,301
Income before income taxes
Pretax income from continuing operations, as reported		$	1,192		$	1,112		$	1,555		$	930		$	906
Share of pretax income (loss) of 50% owned subsidiaries         not included in above			39			11			(1	)		14			8
Net income as adjusted		$	1,231		$	1,123		$	1,554		$	944		$	914
Fixed charges:
Interest on other borrowings		$	315		$	279		$	426		$	881		$	1,268
Interest on long-term debt including amortization of debt         issue costs			68			69			71			93			82
Portion of rents representative of the interest factor in         long term lease(1)			98			76			55			51			37
Fixed charges		$	481		$	424		$	552		$	1,025		$	1,387
Ratio of earnings to fixed charges			3.56	x		3.65	x		3.82	x		1.92	x		1.66	x
(B) Including interest on deposits:
Earnings:
Adjusted earnings from (A) above		$	1,712		$	1,547		$	2,106		$	1,969		$	2,301
Add interest on deposits			512			372			498			856			1,012
Earnings as adjusted		$	2,224		$	1,919		$	2,604		$	2,825		$	3,313
Fixed charges:
Fixed charges from (A) above		$	481		$	424		$	552		$	1,025		$	1,387
Interest on deposits			512			372			498			856			1,012
Adjusted fixed charges		$	993		$	796		$	1,050		$	1,881		$	2,399
Ratio of adjusted earnings to adjusted fixed charges			2.24	x		2.41	x		2.48	x		1.50	x		1.38	x
(1)	The interest factor on long-term operating leases is estimated using one-third of rental expense. The interest factor on long-term capital leases is equal to the amount recorded as interest expense in the Consolidated Statement of Income.

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