EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



                                                                                            Three
                                                                                           Months
                                                                                            Ended
                                                                                         March 31
                                                                                       ----------
                                                                                    
(Dollars in Millions)                                                                        1998
=================================================================================================
EARNINGS
 1.   Net income ....................................................................   $   328.5
 2.   Applicable income taxes .......................................................       189.3
                                                                                        ---------
 3.   Net income before taxes (1 + 2) ...............................................   $   517.8
                                                                                        =========
 4.   Fixed charges:
      a  Interest expense excluding interest on deposits .............................  $   215.1
      b. Portion of rents representative of interest and amortization of debt expense        10.8
                                                                                        ---------
      c. Fixed charges excluding interest on deposits (4a + 4b) ......................      225.9
      d. Interest on deposits ........................................................      355.1
                                                                                        ---------
      e. Fixed charges including interest on deposits (4c + 4d) ......................  $   581.0
                                                                                        =========
 5.   Amortization of interest capitalized ..........................................   $      --
 6.   Earnings excluding interest on deposits (3 + 4c + 5) ..........................       743.7
 7.   Earnings including interest on deposits (3 + 4e + 5) ..........................     1,098.8
 8.   Fixed charges excluding interest on deposits (4c) .............................       225.9
 9.   Fixed charges including interest on deposits (4e) .............................       581.0

RATIO OF EARNINGS TO FIXED CHARGES

10.   Excluding interest on deposits (line 6/line 8) ................................        3.29
11.   Including interest on deposits (line 7/line 9) ................................        1.89
=================================================================================================