Merrill LYNCH Preferred Funding Iv 10-K 2011 FY Annual report

EXHIBIT 12

MERRILL LYNCH PREFERRED CAPITAL TRUST IV

MERRILL LYNCH PREFERRED FUNDING IV, L.P.

COMPUTATION OF RATIOS OF EARNINGS TO

COMBINED FIXED CHARGES AND PREFERRED SECURITIES DISTRIBUTIONS (UNAUDITED)

(dollars in thousands)

	FOR THE YEAR ENDED December 31, 2011				FOR THE YEAR ENDED December 31, 2010				FOR THE YEAR ENDED December 31, 2009
	MERRILL LYNCH PREFERRED CAPITAL TRUST IV		MERRILL LYNCH PREFERRED FUNDING IV, L.P.		MERRILL LYNCH PREFERRED CAPITAL TRUST IV		MERRILL LYNCH PREFERRED FUNDING IV, L.P.		MERRILL LYNCH PREFERRED CAPITAL TRUST IV		MERRILL LYNCH PREFERRED FUNDING IV, L.P.
Earnings	$	29,361	$	34,207	$	29,361	$	34,206	$	29,361	$	34,213
Fixed charges	$	—	$	—	$	—	$	—	$	—	$	—
Preferred securities distribution requirements	28,480		29,361		28,480		29,361		28,480		29,361
Total combined fixed charges and preferred securities distribution requirements	$	28,480	$	29,361	$	28,480	$	29,361	$	28,480	$	29,361
Ratio of earnings to combined fixed charges and preferred securities distribution requirements	1.03		1.17		1.03		1.17		1.03		1.17