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Requirements
  
(dollars in thousands) (unaudited)
      
       
   
For the Six Months
  
   
Ended June 30,
  
   
2005
  
2004
  
Including Interest on Deposits
          
Earnings:
              
Income before income taxes
  
$
1,034,074
  
$
1,773,700
  
Fixed charges
    
838,870
    
750,134
  
Interest capitalized during period, net of amortization of previously capitalized interest
    
(2,487
)
  
(8,455
)
Earnings, for computation purposes
  
$
1,870,457
  
$
2,515,379
  
               
Fixed Charges and Preferred Stock Dividend Requirements:
              
Interest on deposits, short-term borrowings, and long-term debt and bank notes,
expensed or capitalized
  
$
836,871
  
$
747,671
  
Portion of rents representative of the interest factor
    
1,999
    
2,463
  
Fixed charges
    
838,870
    
750,134
  
Preferred stock dividend requirements
    
10,953
    
10,574
  
Fixed charges and preferred stock dividend requirements, including interest
on deposits, for computation purposes
  
$
849,823
  
$
760,708
  
               
Ratio of earnings to combined fixed charges and preferred stock dividend
  requirements, including interest on deposits
    
2.20
    
3.31
  
               
Excluding Interest on Deposits
              
Earnings:
              
Income before income taxes
  
$
1,034,074
  
$
1,773,700
  
Fixed charges
    
337,188
    
262,975
  
Interest capitalized during period, net of amortization of previously capitalized interest
    
(2,498
)
  
(8,465
)
Earnings, for computation purposes
  
$
1,368,764
  
$
2,028,210
  
               
Fixed Charges and Preferred Stock Dividend Requirements:
              
Interest on short-term borrowings and long-term debt and bank notes,
expensed or capitalized
  
$
335,189
  
$
260,512
  
Portion of rents representative of the interest factor
    
1,999
    
2,463
  
Fixed charges
    
337,188
    
262,975
  
Preferred stock dividend requirements
    
10,953
    
10,574
  
Fixed charges and preferred stock dividend requirements, excluding interest
on deposits, for computation purposes
  
$
348,141
  
$
273,549
  
               
Ratio of earnings to combined fixed charges and preferred stock dividend
    requirements, excluding interest on deposits
    
3.93
    
7.41
  
 
 
The ratio of earnings to combined fixed charges and preferred stock dividend requirements is computed by dividing (i) income before income taxes and fixed charges less interest capitalized during such period, net of amortization of previously capitalized interest, by (ii) fixed charges and preferred stock dividend requirements. Fixed charges consist of interest, expensed or capitalized, on borrowings (including or excluding deposits, as applicable), and the portion of rental expense which is deemed representative of interest. The preferred stock dividend requirements represent the pre-tax earnings which would have been required to cover such dividend requirements on the Corporation's Preferred Stock outstanding.