EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES




Year Ended December 31 (Dollars in Millions)                          1998       1997      1996       1995        1994
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EARNINGS
 1.  Net income from continuing operations                         $1,327.4   $  838.5   $1,218.7   $  897.1   $  568.2
 2.  Applicable income taxes                                          766.5      552.2      725.7      523.9      311.5
                                                                   --------   --------   --------   --------   --------
 3.  Income before taxes (1 + 2)                                   $2,093.9   $1,390.7   $1,944.4   $1,421.0   $  879.7
                                                                   --------   --------   --------   --------   --------
 4.  Fixed charges:
     a. Interest expense excluding interest on deposits            $  955.8   $  808.7   $  702.5   $  681.4   $  486.3
     b. Portion of rents representative of interest
        and amortization of debt expense                               47.7       41.2       45.4       46.6       48.7
                                                                   --------   --------   --------   --------   --------
     c. Fixed charges excluding interest on deposits (4a + 4b)      1,003.5      849.9      747.9      728.0      535.0
     d. Interest on deposits                                        1,391.0    1,436.8    1,441.3    1,416.7    1,121.1
                                                                   --------   --------   --------   --------   --------
     e. Fixed charges including interest on deposits (4c + 4d)     $2,394.5   $2,286.7   $2,189.2   $2,144.7   $1,656.1
                                                                   --------   --------   --------   --------   --------
 5.  Amortization of interest capitalized                          $     --   $     --   $     --   $     --   $     .1
 6.  Earnings excluding interest on deposits (3 + 4c + 5)           3,097.4    2,240.6    2,692.3    2,149.0    1,414.8
 7.  Earnings including interest on deposits (3 + 4e + 5)           4,488.4    3,677.4    4,133.6    3,565.7    2,535.9
 8.  Fixed charges excluding interest on deposits (4c)              1,003.5      849.9      747.9      728.0      535.0
 9.  Fixed charges including interest on deposits (4e)              2,394.5    2,286.7    2,189.2    2,144.7    1,656.1

RATIO OF EARNINGS TO FIXED CHARGES
10.  Excluding interest on deposits (line 6 / line 8)                   3.09       2.64       3.60       2.95       2.64
11.  Including interest on deposits (line 7 / line 9)                   1.87       1.61       1.89       1.66       1.53
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