The Bank of New York Mellon Corporation (BK) 10-Q2008 Q3 Quarterly report

Filed: 7 Nov 08, 12:00am

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New words: ABCP, Absent, absolute, admitting, advertising, altered, anniversary, annum, appellate, appetite, Arden, Bush, buyer, case, CDs, cease, censure, comment, consent, contrast, CPP, CVA, deemphasizing, denominated, Department, depleted, depository, depreciation, depressed, DF, discretion, disruption, EAFE, EB, EESA, enacted, encourage, exacerbate, exacerbated, extreme, failure, faith, falling, FDIC, fine, Fitch, golden, good, haven, heighten, Henry, hired, illiquid, intensify, interdealer, interrelated, launched, led, legislation, Lehman, lot, media, medium, met, metro, mine, MMIFF, MMMF, MSCI, multiplied, newspaper, OCI, OTC, parachute, Paulson, permanent, Perpetual, pertinently, pledged, power, precipitated, President, pressure, pretax, prime, promissory, rank, reaction, reassessed, recession, regular, reliance, Relief, responded, roadmap, routing, safe, scrutiny, sharp, slowdown, SMAM, sophisticated, stabilization, stabilize, stabilizing, stronger, subset, substance, surcharge, sweep, symbol, TARP, telecom, temporarily, thereunder, tightly, troubled, turmoil, unaffiliated, unemployment, uniform, unpaid, unprecedented, unsuccessful, velocity, voluntarily, warrant, worsen, worsening

Removed: acceptable, actuarial, actuarially, administrative, anticipation, assumption, attrition, challenge, challenged, comparing, comprising, consist, conversion, count, dated, deducting, deposited, determinable, discount, disposition, draft, ESOP, exhibit, exist, FAS, fiduciary, fundamental, furnished, gap, harmonization, highest, hypothetical, inability, infrastructure, instance, judicial, litigated, matched, Notice, occurring, partner, permitted, procedure, prospective, quantify, reaching, realize, released, resale, reserved, restated, seniority, slightly, step, Susquehanna, timeframe, understand, undiscounted, unknown, varied, weighted

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Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The Bank of New York Mellon Corporation



	Quarter ended						Nine months ended
(dollar amounts in millions)		Sept. 30, 2008		June 30, 2008		Sept. 30, 2007		Sept. 30, 2008		Sept. 30, 2007	^(a)

Earnings
Income from continuing operations before income taxes	$	264	$	614	$	894	$	1,988	$	2,197
Fixed charges, excluding interest on deposits		230		233		367		766		818

Income from continuing operations before income taxes and fixed charges, excluding interest on deposits		494		847		1,261		2,754		3,015
Interest on deposits		432		477		772		1,524		1,659

Income from continuing operations before income taxes and fixed charges including interest on deposits	$	926	$	1,324	$	2,033	$	4,278	$	4,674


Fixed charges
Interest expense, excluding interest on deposits	$	204	$	204	$	336	$	682	$	753
One-third net rental expense^(b)		31		29		30		89		64

Total fixed charges, excluding interest on deposits		235		233		366		771		817
Interest on deposits		432		477		772		1,524		1,659

Total fixed charges, including interests on deposits	$	667	$	710	$	1,138	$	2,295	$	2,476


Earnings to fixed charges ratios
Excluding interest on deposits		2.10		3.64		3.45		3.57		3.69
Including interest on deposits		1.39		1.86		1.79		1.86		1.89

(a)

Results for nine months ended Sept. 30, 2007 include six months legacy The Bank of New York Company, Inc. and three months of The Bank of New York Mellon Corporation.

(b)

The proportion deemed representative of the interest factor.

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