Exhibit 12

Ratio of Earnings to Fixed Charges

                                         
    Twelve Months Ended December 31,  
(in thousands of dollars)   2004     2003     2002     2001     2000  
 
 
                                        
Earnings:
                                        
 
                                        
Income before taxes
   $ 552,666     $ 523,987     $ 522,705     $ 95,477     $ 448,454  
 
Add: Fixed charges, excluding interest on deposits
     191,648       179,903       169,788       299,872       398,214  
 
Earnings available for fixed charges, excluding interest on deposits
     744,314       703,890       692,493       395,349       846,668  
Add: Interest on deposits
     257,099       288,271       385,733       654,056       782,076  
 
Earnings available for fixed charges, including interest on deposits
   $ 1,001,413     $ 992,161     $ 1,078,226     $ 1,049,405     $ 1,628,744  
 
 
                                        
Fixed Charges:
                                        
Interest expense, excluding interest on deposits
   $ 178,842     $ 168,499     $ 157,888     $ 285,445     $ 383,997  
Interest factor in net rental expense
     12,806       11,404       11,900       14,427       14,217  
 
Total fixed charges, excluding interest on deposits
     191,648       179,903       169,788       299,872       398,214  
Add: Interest on deposits
     257,099       288,271       385,733       654,056       782,076  
 
Total fixed charges, including interest on deposits
   $ 448,747     $ 468,174     $ 555,521     $ 953,928     $ 1,180,290  
 
 
                                        
Ratio of Earnings to Fixed Charges
                                        
Excluding interest on deposits
     3.88 x       3.91 x       4.08 x       1.32 x       2.13 x  
Including interest on deposits
     2.23 x       2.12 x       1.94 x       1.10 x       1.38 x