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                                                                                                                         Exhibit 12a


CITICORP AND SUBSIDIARIES
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
(In Millions)
                                                                                                                SIX MONTHS ENDED
                                                      YEAR ENDED DECEMBER 31,                                        JUNE 30,
                                         ---------------------------------------------------------------      ----------------------
EXCLUDING INTEREST ON DEPOSITS:             1997         1996          1995         1994          1993         1998          1997
                                         ---------    ---------     ---------     --------      --------      --------     ---------
<S>                                     <C>           <C>           <C>           <C>           <C>             <C>        <C> 

FIXED CHARGES:
     INTEREST EXPENSE (OTHER THAN
        INTEREST ON DEPOSITS)               3,468          3,435        4,110        5,906        6,324          1,722        1,681
     INTEREST FACTOR IN RENT EXPENSE          159            150          140          143          147             83           78
                                           ------         ------       ------       ------       ------         ------       ------
                                                                                                                                   
        TOTAL FIXED CHARGES                 3,627          3,585        4,250        6,049        6,471          1,805        1,759
                                           ------         ------       ------       ------       ------         ------       ------
                                                                                                                                   
INCOME:                                                                                                                            
     NET INCOME                             3,591          3,788        3,464        3,422 (A)    1,919 (B)      2,162        2,019
     INCOME TAXES                           2,131          2,285        2,121        1,189          941          1,297        1,211
     FIXED CHARGES                          3,627          3,585        4,250        6,049        6,471          1,805        1,759
                                           ------         ------       ------       ------       ------         ------       ------
                                                                                                                                   
        TOTAL INCOME                        9,349          9,658        9,835       10,660        9,331          5,264        4,989
                                           ======         ======       ======       ======       ======         ======       ======
                                                                                                                                   
RATIO OF INCOME TO FIXED CHARGES                                                                                                   
     EXCLUDING INTEREST ON DEPOSITS          2.58           2.69         2.31         1.76         1.44           2.92         2.84
                                           ======         ======       ======       ======       ======         ======       ======
                                                                                                                                   
                                                                                                                                   
INCLUDING INTEREST ON DEPOSITS:                                                                                                    
                                                                                                                                   
FIXED CHARGES:                                                                                                                     
     INTEREST EXPENSE                      13,081         12,409       13,012       14,902       16,121          7,127        6,331
     INTEREST FACTOR IN RENT EXPENSE          159            150          140          143          147             83           78
                                           ------         ------       ------       ------       ------         ------       ------
                                                                                                                                   
        TOTAL FIXED CHARGES                13,240         12,559       13,152       15,045       16,268          7,210        6,409
                                           ------         ------       ------       ------       ------         ------       ------
                                                                                                                                   
INCOME:                                                                                                                            
     NET INCOME                             3,591          3,788        3,464        3,422 (A)    1,919 (B)      2,162        2,019
     INCOME TAXES                           2,131          2,285        2,121        1,189          941          1,297        1,211
     FIXED CHARGES                         13,240         12,559       13,152       15,045       16,268          7,210        6,409
                                           ------         ------       ------       ------       ------         ------       ------
                                                                                                                                   
        TOTAL INCOME                       18,962         18,632       18,737       19,656       19,128         10,669        9,639
                                           ======         ======       ======       ======       ======         ======       ======
                                                                                                                                   
                                                                                                                                   
RATIO OF INCOME TO FIXED CHARGES                                                                                                   
     INCLUDING INTEREST ON DEPOSITS          1.43           1.48         1.42         1.31         1.18           1.48         1.50 
</TABLE> 

         
(A)     NET INCOME FOR THE YEAR ENDED DECEMBER 31, 1994 EXCLUDES THE CUMULATIVE
        EFFECT OF ADOPTING STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 112,
        "EMPLOYERS' ACCOUNTING FOR POSTEMPLOYMENT BENEFITS", OF $(56) MILLION.

(B)     NET INCOME FOR THE YEAR ENDED DECEMBER 31, 1993 EXCLUDES THE CUMULATIVE
        EFFECT OF ADOPTING STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 109,
        "ACCOUNTING FOR INCOME TAXES", OF $300 MILLION.