Exhibit 12.01

CITICORP
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   | Six Months Ended June 30,
|------------------------------------------------------------------------------------------------------------- |  | - | ------ |  | - | ------ |  | - | ------ |  | - | -------------------------
|
|
|
|EXCLUDING INTEREST ON DEPOSITS:                                                                               |  |   |        |  |   |        |  |   |        |  |   |                          
|Fixed charges                                                                                                 |  |   |        |  |   |        |  |   |        |  |   |                          
|Interest expense (other than interest on deposits)                                                            |  | $ | 5,323  |  | $ | 6,282  |  | $ | 8,316  |  | $ | 8,722                    
|Interest factor in rent expense                                                                               |  |   | 363    |  |   | 322    |  |   | 303    |  |   | 283                      
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Total fixed charges                                                                                           |  | $ | 5,686  |  | $ | 6,604  |  | $ | 8,619  |  | $ | 9,005                    
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Income                                                                                                        |  |   |        |  |   |        |  |   |        |  |   |                          
|Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes |  | $ | 19,646 |  | $ | 16,166 |  | $ | 15,221 |  | $ | 12,876                   
|Fixed charges                                                                                                 |  |   | 5,686  |  |   | 6,604  |  |   | 8,619  |  |   | 9,005                    
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Total income                                                                                                  |  | $ | 25,332 |  | $ | 22,770 |  | $ | 23,840 |  | $ | 21,881                   
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Ratio of income to fixed charges excluding interest on deposits                                               |  |   | 4.46   |  |   | 3.45   |  |   | 2.77   |  |   | 2.43                     
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|INCLUDING INTEREST ON DEPOSITS:                                                                               |  |   |        |  |   |        |  |   |        |  |   |                          
|Fixed charges                                                                                                 |  |   |        |  |   |        |  |   |        |  |   |                          
|Interest expense                                                                                              |  | $ | 12,474 |  | $ | 15,079 |  | $ | 20,181 |  | $ | 22,045                   
|Interest factor in rent expense                                                                               |  |   | 363    |  |   | 322    |  |   | 303    |  |   | 283                      
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Total fixed charges                                                                                           |  | $ | 12,837 |  | $ | 15,401 |  | $ | 20,484 |  | $ | 22,328                   
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Income                                                                                                        |  |   |        |  |   |        |  |   |        |  |   |                          
|Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes |  | $ | 19,646 |  | $ | 16,166 |  | $ | 15,221 |  | $ | 12,876                   
|Fixed charges (excluding preferred stock dividends)                                                           |  |   | 12,837 |  |   | 15,401 |  |   | 20,484 |  |   | 22,328                   
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Total income                                                                                                  |  | $ | 32,483 |  | $ | 31,567 |  | $ | 35,705 |  | $ | 35,204                   
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          
|Ratio of income to fixed charges including interest on deposits                                               |  |   | 2.53   |  |   | 2.05   |  |   | 1.74   |  |   | 1.58                     
|                                                                                                              |  |   |        |  |   |        |  |   |        |  |   |                          

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