Exhibit 12.1
Ratio of Earnings to Fixed Charges
                                         
    Year Ended December 31,  
(in thousands of dollars)   2006     2005     2004     2003     2002  
 
                                       
Earnings:
                                       
Income before taxes
  $ 514,061     $ 543,574     $ 552,666     $ 523,987     $ 522,705  
 
Add: Fixed charges, excluding interest on deposits
    345,253       243,239       191,648       179,903       169,788  
 
Earnings available for fixed charges, excluding interest on deposits
    859,314       786,813       744,314       703,890       692,493  
Add: Interest on deposits
    717,167       446,919       257,099       288,271       385,733  
 
Earnings available for fixed charges, including interest on deposits
  $ 1,576,481     $ 1,233,732     $ 1,001,413     $ 992,161     $ 1,078,226  
 
 
                                       
Fixed Charges:
                                       
Interest expense, excluding interest on deposits
  $ 334,175     $ 232,435     $ 178,842     $ 168,499     $ 157,888  
Interest factor in net rental
    11,078       10,804       12,806       11,404       11,900  
expense
                                       
 
Total fixed charges, excluding interest on deposits
    345,253       243,239       191,648       179,903       169,788  
Add: Interest on deposits
    717,167       446,919       257,099       288,271       385,733  
 
Total fixed charges, including interest on deposits
  $ 1,062,420     $ 690,158     $ 448,747     $ 468,174     $ 555,521  
 
 
                                       
Ratio of Earnings to Fixed Charges
                                       
Excluding interest on deposits
    2.49x       3.23x       3.88x       3.91x       4.08x  
Including interest on deposits
    1.48x       1.79x       2.23x       2.12x       1.94x  

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