NationsBank Corporation and Subsidiaries                         Exhibit 12(b)
Ratio of Earnings to Fixed Charges and Preferred Dividends
(Dollars in Millions)



                                                     Nine Months                         Year Ended December 31
                                                      Ended
                                                 September 30, 1996  1995        1994          1993           1992         1991

Excluding Interest on Deposits
                                                                                                           

Income before taxes ...........................  $    2,676    $     2,991   $     2,555   $      1,991   $     1,396    $      109

Equity in undistributed earnings
  of unconsolidated subsidiaries ..............         (12)            (7)           (3)            (5)           (1)           (1)

Fixed charges:
     Interest expense (including
       capitalized interest) ..................       3,156          4,480         2,896          1,421           916         1,291
     Amortization of debt discount and
       appropriate issuance costs .............          15             12             8              6             3             2
     1/3 of net rent expense ..................          94            125           114             96            91            82
                                                 -----------------------------------------------------------------------------------
        Total fixed charges ...................       3,265          4,617         3,018          1,523         1,010         1,375

Preferred dividend requirements ...............          17             13            15             16            29            31

Earnings (excluding capitalized interest) .....  $    5,929    $     7,601   $     5,570   $      3,509   $     2,398    $    1,471
                                                 ===================================================================================

Fixed charges .................................  $    3,282    $     4,630   $     3,033   $      1,539   $     1,039    $    1,406
                                                 ===================================================================================

Ratio of Earnings to Fixed Charges ............        1.81           1.64          1.84           2.28          2.31          1.05



Including Interest on Deposits

Income before taxes ...........................  $    2,676    $     2,991   $     2,555   $      1,991   $     1,396    $      109

Equity in undistributed earnings
  of unconsolidated subsidiaries ..............         (12)            (7)           (3)            (5)           (1)           (1)
                                                 -----------------------------------------------------------------------------------
Fixed charges:
Interest expense (including
  capitalized interest) .......................       5,684          7,761         5,310          3,570         3,688         5,611
Amortization of debt discount and
  appropriate issuance costs ..................          15             12             8              6             3             2
1/3 of net rent expense .......................          94            125           114             96            91            82
                                                 -----------------------------------------------------------------------------------
        Total fixed charges ...................       5,793          7,898         5,432          3,672         3,782         5,695

Preferred dividend requirements ...............          17             13            15             16            29            31

Earnings (excluding capitalized interest) .....  $    8,457    $    10,882   $     7,984   $      5,658   $     5,170    $    5,791
                                                 ===================================================================================

Fixed charges .................................  $    5,810    $     7,911   $     5,447   $      3,688   $     3,811    $    5,726
                                                 ===================================================================================

Ratio of Earnings to Fixed Charges ............        1.46           1.38          1.47           1.53          1.36          1.01






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