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                                                                     EXHIBIT 12
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       GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                       AND
           COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
                          AND PREFERRED STOCK DIVIDENDS

                        THREE MONTHS ENDED MARCH 29, 1997

                                   (Unaudited)

                                                                      RATIO OF 
                                                                      EARNINGS 
                                                                         TO    
                                                                      COMBINED 
                                                                        FIXED  
                                                           RATIO OF    CHARGES 
                                                           EARNINGS      AND   
                                                              TO      PREFERRED
                                                             FIXED      STOCK  
(Dollar amounts in millions)                                CHARGES   DIVIDENDS
                                                           --------    --------
<S>                                                        <C>         <C>     
Net earnings ...........................................   $    754    $    754
Provision for income taxes .............................        327         327
Minority interest in net earnings of consolidated
 affiliates ............................................         30          30
                                                           --------    --------
Earnings before provision for income taxes and
 minority interest .....................................      1,111       1,111
                                                           --------    --------

Fixed charges:
  Interest .............................................      1,808       1,808
  One-third of rentals .................................         49          49
                                                           --------    --------
Total fixed charges ....................................      1,857       1,857
                                                           --------    --------

Less interest capitalized, net of amortization .........         12          12
                                                           --------    --------
Earnings before provision for income taxes and minority
 interest, plus fixed charges ..........................   $  2,956    $  2,956
                                                           ========    ========

Ratio of earnings to fixed charges .....................       1.59
                                                           ========


Preferred stock dividend requirements ..................               $    -- 
Ratio of earnings before provision for income taxes to
 net earnings ..........................................                   1.43
Preferred stock dividend factor on pre-tax basis .......                    -- 
Fixed charges ..........................................                  1,857
                                                                       --------
Total fixed charges and preferred stock dividend
 requirements ..........................................               $  1,857
                                                                       ========

Ratio of earnings to combined fixed charges and
 preferred stock dividends .............................                   1.59
                                                                       ========
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For purposes of computing the ratios,  fixed charges  consist of interest on all
indebtedness and one-third of rentals, which management believes is a reasonable
approximation of the interest factor of such rentals.