UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                           --------------------------
                                    FORM 10-Q
                           --------------------------

                                     -------
           |X| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                                     -------
                         SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended April 1, 2000
                                  -------------

                                       OR

                                     -------
            TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                                     -------
                         SECURITIES EXCHANGE ACT OF 1934

                        For the transition period from to
                                  -------------

                         Commission file number 0-14804
                     General Electric Capital Services, Inc.
             (Exact name of registrant as specified in its charter)

                     Delaware                    06-1109503
        (State or other jurisdiction of      (I.R.S. Employer
         incorporation or organization)     Identification No.)

                260 Long Ridge Road, Stamford, Connecticut 06927
               (Address of principal executive offices) (Zip Code)

                                 (203) 357-4000
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes |X| No

At May 15,  2000,  1,012 shares  of common stock with a par value of $1,000 were
outstanding.

REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND (b)
OF FORM 10-Q AND IS THEREFORE FILING THIS FORM 10-Q WITH THE REDUCED  DISCLOSURE
FORMAT.


<PAGE>

<TABLE>
<CAPTION>

                                TABLE OF CONTENTS

                                                                                                          Page

                                                                                                   -------------------
PART I - FINANCIAL INFORMATION
<S>           <C>                                                                                  <C>

Item 1.       Financial Statements ...........................................................             1

Item 2.       Management's Discussion and Analysis of Results of Operations ..................             6

Exhibit 12.   Computation of Ratio of Earnings to Fixed Charges and Computation of Ratio of
              Earnings to Combined Fixed Charges and Preferred Stock Dividends ...............             9


PART II - OTHER INFORMATION

Item 6.       Exhibits and Reports on Form 8-K ...............................................             10

Signatures    ................................................................................             11


</TABLE>

<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements
<TABLE>
<CAPTION>
        GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

              Condensed Statement of Current and Retained Earnings

                                   (Unaudited)


                                                                           Three Months Ended
                                                                 ------------------------------------
                                                                     April 1,          March 27,
 (In millions)                                                         2000               1999
                                                                  -----------------  ----------------
 Revenues
<S>                                                                 <C>                <C>
 Revenues from services .........................................   $     13,448       $     10,743
 Sales of goods .................................................          2,233              1,640
                                                                  -----------------  ----------------
                                                                          15,681             12,383
                                                                  -----------------  ----------------
 Expenses
 Interest .......................................................          2,570              2,113
 Operating and administrative ...................................          4,830              3,638
 Cost of goods sold .............................................          2,070              1,511
 Insurance losses and policyholder and annuity benefits .........          2,930              2,619
 Provision for losses on financing receivables ..................            521                379
 Depreciation and amortization of buildings and equipment and
     equipment on operating leases ..............................            964                685
 Minority interest in net earnings of consolidated affiliates ...             50                 38
                                                                  -----------------  ----------------
                                                                          13,935             10,983
                                                                  -----------------  ----------------
 Earnings
 Earnings before income taxes ...................................          1,746              1,400
 Provision for income taxes......................................           (536)              (368)
                                                                  -----------------  ----------------
 Net Earnings ...................................................          1,210              1,032
 Dividends ......................................................           (441)              (386)
 Retained earnings at beginning of period .......................         17,852             15,075
                                                                  -----------------  ----------------
 Retained earnings at end of period .............................   $     18,621       $     15,721
                                                                  =================  ================

</TABLE>












See Notes to Condensed, Consolidated Financial Statements.

                                       1
<PAGE>
<TABLE>
<CAPTION>
          GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

                   Condensed Statement of Financial Position


                                                                                     April 1,          December 31,
 (In millions)                                                                         2000                1999
                                                                                 -----------------   -----------------
                                                                                    (Unaudited)
 Assets
<S>                                                                               <C>                <C>
 Cash and equivalents ......................................................      $      16,297      $        6,931
 Investment securities .....................................................             81,130              80,485
 Financing receivables:
    Time sales and loans, net of deferred income............................             97,724              93,625
    Investment in financing leases, net of deferred income..................             46,644              47,783
                                                                                 -----------------   -----------------
                                                                                        144,368             141,408
    Allowance for losses on financing receivables ..........................             (3,956)             (3,779)
                                                                                 -----------------   -----------------
       Financing receivables - net .........................................            140,412             137,629
 Other receivables - net ...................................................             29,434              30,681
 Inventories ...............................................................              1,248               1,209
 Equipment on operating leases (at cost), less accumulated amortization of
    $7,612 and $7,392 ......................................................             23,626              23,605
 Intangible assets .........................................................             15,435              14,748
 Other assets ..............................................................             51,888              49,730
                                                                                 -----------------   -----------------
         Total assets ......................................................     $      359,470      $      345,018
                                                                                 =================   =================

 Liabilities and share owners' equity

 Short-term borrowings .....................................................     $      122,216      $      129,259
 Long-term borrowings:
    Senior .................................................................             71,788              69,770
    Subordinated ...........................................................                996                 996
 Insurance liabilities, reserves and annuity benefits ......................            108,552              86,776
 Other liabilities .........................................................             22,209              24,550
 Deferred income taxes .....................................................              8,794               8,955
                                                                                 -----------------   -----------------
         Total liabilities .................................................            334,555             320,306
                                                                                 -----------------   -----------------
 Minority interest in equity of consolidated affiliates ....................              4,004               4,391
                                                                                 -----------------   -----------------
 Accumulated unrealized gains on investment securities - net ...............                101                 170
 Accumulated foreign currency translation adjustments ......................               (494)               (384)
                                                                                 -----------------   -----------------
 Accumulated non-owner changes in share owners' equity .....................               (393)               (214)
 Capital stock .............................................................                 11                  11
 Additional paid-in capital ................................................              2,672               2,672
 Retained earnings .........................................................             18,621              17,852
                                                                                 -----------------   -----------------
         Total share owners' equity ........................................             20,911              20,321
                                                                                 -----------------   -----------------
         Total liabilities and share owners' equity ........................     $      359,470      $      345,018
                                                                                 =================   =================
</TABLE>





See Notes to Condensed, Consolidated Financial Statements.

                                       2
<PAGE>

<TABLE>
<CAPTION>
          GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

                        Condensed Statement of Cash Flows

                                   (Unaudited)

                                                                                         Three Months Ended
                                                                                -------------------------------------
                                                                                   April 1,            March 27,
 (In millions)                                                                       2000                1999
                                                                               -----------------   ------------------
 Cash Flows From Operating Activities
<S>                                                                            <C>                 <C>
 Net earnings ..............................................................   $        1,210      $        1,032
 Adjustments to reconcile net earnings to cash provided from operating
   activities:
      Provision for losses on financing receivables ........................              521                 379
      Depreciation and amortization of buildings and equipment and equipment
        on operating leases ................................................              964                 685
      Decrease in acquired insurance policyholder liabilities and reserves
        (Note 5) ...........................................................
      Other - net ..........................................................           (2,554)                459
                                                                               -----------------   ------------------
         Cash from operating activities ....................................              141               2,555
                                                                               -----------------   ------------------
 Cash Flows From Investing Activities
 Increase in loans to customers ............................................          (23,565)            (19,236)
 Principal collections from customers - loans ..............................           22,766              18,480
 Investment in equipment for financing leases ..............................           (4,131)             (3,509)
 Principal collections from customers - financing leases ...................            4,477               3,251
 Net change in credit card receivables .....................................              394                 763
 Buildings and equipment and equipment on operating leases:
      - additions ..........................................................           (2,421)             (1,368)
      - dispositions .......................................................            1,219                 871
 Payments for principal businesses purchased, net of cash acquired .........               (3)             (4,125)
 Purchases of securities by insurance and annuity businesses ...............          (11,774)             (5,594)
 Dispositions and maturities of securities by insurance and annuity
      businesses ...........................................................           10,032               5,495
 Other - net ...............................................................            2,698                (740)
                                                                               -----------------   ------------------
         Cash used for investing activities ................................             (308)             (5,712)
                                                                               -----------------   ------------------
 Cash Flows From Financing Activities
 Net change in borrowings (maturities 90 days or less) .....................           (7,284)              3,489
 Newly issued debt  -  short-term (maturities 91-365 days) .................            1,287               1,354
                     -  long-term (longer than one year) ...................            7,185               6,206
 Proceeds - non-recourse, leveraged lease debt .............................              161                 165
 Repayments and other reductions:
                    -  short-term (maturities 91-365 days) .................           (3,681)             (6,512)
                    -  long-term (longer than one year) ....................             (444)               (774)
 Principal payments - non-recourse, leveraged lease debt ...................             (101)               (206)
 Proceeds from sales of investment contracts ...............................            1,960               1,548
 Cash received upon assumption of Toho Mutual Life Insurance Company
      insurance liabilities ................................................           13,177                   -
 Redemption of investment contracts ........................................           (2,286)             (1,589)
 Dividends paid ............................................................             (441)               (386)
 Issuance of variable cumulative preferred stock by consolidated affiliates                 -                 300
                                                                               -----------------   ------------------
         Cash from financing activities ....................................            9,533               3,595
                                                                               -----------------   ------------------
 Increase in Cash and Equivalents ..........................................            9,366                 438
 Cash and Equivalents at Beginning of Period ...............................            6,931               3,342
                                                                               -----------------   ------------------
 Cash and Equivalents at End of Period .....................................   $       16,297      $        3,780
                                                                               =================   ==================
</TABLE>

See Notes to Condensed, Consolidated Financial Statements.

                                       3
<PAGE>


       GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

              Notes to Condensed, Consolidated Financial Statements

                                   (Unaudited)

1.   The accompanying  condensed  quarterly financial  statements  represent the
     consolidation  of  General  Electric   Capital   Services,   Inc.  and  all
     majority-owned  and  controlled   affiliates   (collectively   called  "the
     Corporation" or "GECS"). All significant  transactions among the parent and
     consolidated  affiliates  have been  eliminated.  Certain prior period data
     have been reclassified to conform to the current period presentation.

2.   The condensed  consolidated  quarterly financial  statements are unaudited.
     These  statements  include all adjustments  (consisting of normal recurring
     accruals) considered necessary by management to present a fair statement of
     the results of operations,  financial  position and cash flows. The results
     reported in these condensed consolidated financial statements should not be
     regarded as necessarily  indicative of results that may be expected for the
     entire year.

3.   The Financial  Accounting  Standards Board ("FASB") has issued Statement of
     Financial  Accounting Standards ("SFAS") No. 133, Accounting for Derivative
     Instruments  and  Hedging  Activities,  effective  for the  Corporation  on
     January 1, 2001.  Upon  adoption,  all  derivative  instruments  (including
     certain  derivative  instruments  embedded  in  other  contracts)  will  be
     recognized in balance sheets at fair value, and changes in such fair values
     must be recognized immediately in earnings unless specific hedging criteria
     are met.  Changes  in the  values  of  derivatives  meeting  these  hedging
     criteria will  ultimately  offset  related  earnings  effects of the hedged
     items;  effects of  qualifying  changes in fair value are to be recorded in
     equity pending recognition in earnings. Certain significant refinements and
     interpretations  of SFAS No. 133 are being deliberated by the FASB, and the
     effects on accounting  for the  Corporation's  financial  instruments  will
     depend to some degree on the results of such deliberations.  Management has
     not determined the total  probable  effects on its financial  statements of
     adopting  SFAS No.  133,  and does not  believe  that an  estimate  of such
     effects would be meaningful at this time.

4.   A summary of changes in share  owners'  equity that do not result  directly
     from transactions with share owners is provided below.
<TABLE>
<CAPTION>

                                                                                          Three Months Ended
                                                                                  ------------------------------------
                                                                                     April 1,         March 27, 1999
(In millions)                                                                          2000
                                                                                 -----------------   -----------------
<S>                                                                               <C>                <C>
 Net earnings ..............................................................      $       1,210      $        1,032
 Unrealized gains (losses) on investment securities - net ..................                (69)               (444)
 Foreign currency translation adjustments ..................................               (110)                (72)
                                                                                 -----------------   -----------------
   Total ...................................................................      $       1,031       $         516
                                                                                 =================   =================
</TABLE>

5.   On March 1, 2000, the insurance  policies and related assets of Toho Mutual
     Life Insurance Company were transferred to GE Edison Life Insurance Company
     ("GE Edison"),  a subsidiary of GE Financial  Assurance  Holdings,  Inc., a
     wholly-owned,   indirect   subsidiary  of  GECS.  Total  cash,   investment
     securities  and time  sales  and  loans  acquired  by GE  Edison  was $19.7
     billion, and restructured insurance contracts and other liabilities assumed
     were $21.5 billion.

                                       4
<PAGE>
6.   Revenues and net earnings of the Corporation, by operating segment, for the
     three months ended April 1, 2000 and March 27, 1999 were as follows:

<TABLE>
<CAPTION>
                                                                 Three Months Ended
                                                         -----------------------------------
                                                            April 1,          March 27,
 (In millions)                                                2000              1999
                                                         ----------------  -----------------
 Revenues
<S>                                                        <C>               <C>
 Consumer Services ...................................     $      5,511      $      4,381
 Equipment Management ................................            3,733             3,559
 Mid-Market Financing ................................            1,256               999
 Specialized Financing ...............................            1,716               800
 Specialty Insurance .................................            2,602             2,586
 All other ...........................................              863                58
                                                         ----------------  -----------------
   Total revenues ....................................     $     15,681      $     12,383
                                                         ================  =================

 Net Earnings
 Consumer Services ...................................     $        284      $        221
 Equipment Management ................................              151               210
 Mid-Market Financing ................................              152               114
 Specialized Financing ...............................              598               195
 Specialty Insurance .................................              198               350
 All other ...........................................             (173)              (58)
                                                         ----------------  -----------------
   Total net earnings ................................     $      1,210      $      1,032
                                                         ================  =================
</TABLE>



                                       5
<PAGE>


Item 2.  Management's Discussion and Analysis of Results of Operations

Overview

Net  earnings  for the first three  months of 2000 were $1,210  million,  a $178
million  (17%)  increase  over the  first  three  months  of 1999.  The  results
reflected the globalization and diversity of the Corporation's  businesses.  The
improvement  in earnings  was largely  attributable  to the effects of continued
asset growth, principally from acquisitions of businesses and portfolios.

Operating Results

Total  Revenues  from all  sources  increased  $3,298  million  (27%) to $15,681
million for the first three months of 2000,  compared  with $12,383  million for
the first three months of 1999.  This increase  primarily  reflected core growth
and asset gains in the Specialized  Financing segment, a combination of core and
acquisition  growth in the  Consumer  Services  segment,  and core growth in the
Mid-Market Financing segment.

Interest  expense for the first  three  months of 2000 was $2,570  million,  22%
higher than for the first three months of 1999. The increase primarily reflected
the effects of higher  average  borrowings  used to finance  asset  growth.  The
composite  interest  rate on the  Corporation's  borrowings  for the first three
months of 2000 was 5.57% compared with 5.33% in the first three months of 1999.

Operating and  administrative  expenses were $4,830  million for the first three
months of 2000; a 33% increase over the first three months of 1999. The increase
primarily  reflected costs  associated  with businesses and portfolios  acquired
over the past year and increases in insurance commissions.

Cost of goods sold is associated with activities of the  Corporation's  computer
equipment  distribution  business and retail  operations.  This cost amounted to
$2,070 million for the first three months of 2000,  compared with $1,511 million
for the first  three  months  of 1999.  The  increase  primarily  reflected  the
consolidation of the retail operation.

Insurance losses and policyholder and annuity benefits increased $311 million to
$2,930 million for the first three months of 2000, compared with the first three
months of 1999.  The  increase  primarily  reflected  the  effects  of growth in
premium  volume,  and a  higher  loss  ratio  within  the  reinsurance  business
attributable  to an  increase in  property-related  incurred  losses,  partially
offset by improved market conditions in the mortgage insurance business.

Provision  for losses on  financing  receivables  was $521 million for the first
three  months of 2000  compared  with $379 million for the first three months of
1999. These provisions  principally related to credit cards,  personal loans and
auto loans and auto leases in the Consumer Services segment, which are discussed
below under Portfolio Quality.

Depreciation  and  amortization  of buildings  and  equipment  and  equipment on
operating  leases  increased  $279  million to $964  million for the first three
months of 2000  compared  with $685  million for the first three months of 1999.
The  increase  was  principally  the  result of higher  shorter-lived  levels of
equipment on operating leases, primarily reflecting acquisition growth.

Provision  for income  taxes was $536 million for the first three months of 2000
(an effective tax rate of 30.7%), compared with $368 million for the first three
months of 1999 (an effective tax rate of 26.3%). The higher provision for income
taxes primarily reflected increased non-U.S. earnings.

                                       6
<PAGE>


Operating Segments

Revenues and net earnings of the  Corporation,  by  operating  segment,  for the
three months ended April 1, 2000 and March 27, 1999 are summarized and discussed
below.

<TABLE>
<CAPTION>
                                                                                 Three Months Ended
                                                                        --------------------------------------
                                                                           April 1,            March 27,
(In millions)                                                                2000                 1999
                                                                        -----------------   ------------------
Revenues
<S>                                                                       <C>                 <C>
Consumer Services ..................................................      $      5,511        $      4,381
Equipment Management ...............................................             3,733               3,559
Mid-Market Financing ...............................................             1,256                 999
Specialized Financing ..............................................             1,716                 800
Specialty Insurance ................................................             2,602               2,586
All other ..........................................................               863                  58
                                                                        -----------------   ------------------
   Total revenues ..................................................      $     15,681        $     12,383
                                                                        =================   ==================

Net Earnings
Consumer Services ..................................................      $        284        $        221
Equipment Management ...............................................               151                 210
Mid-Market Financing ...............................................               152                 114
Specialized Financing ..............................................               598                 195
Specialty Insurance ................................................               198                 350
All other ..........................................................              (173)                (58)
                                                                        -----------------   ------------------
   Total net earnings ..............................................      $      1,210        $      1,032
                                                                        =================   ==================
</TABLE>


Consumer Services revenues  increased 26% and net earnings increased 29% for the
first three months of 2000,  compared  with the first three months of 1999.  The
increase  in  revenues  was led by  acquisition-related  and core  growth in the
consumer savings and insurance, U.S. consumer credit card, and non-U.S. consumer
finance  businesses,  partially  offset by the  effects of asset  reductions  in
automobile  financing  activities.  The  increase in net  earnings  was led by a
combination of acquisition-related  growth in the consumer savings and insurance
business  and  acquisition-related  growth and asset gains in the U.S.  consumer
credit card business.

Equipment  Management  revenues  grew 5% for the  first  three  months  of 2000,
compared  with  the  corresponding  period  in 1999  primarily  as a  result  of
acquisition-related  and core  growth  in fleet  services  and  core  growth  in
aviation  services,   partially  offset  by  volume  declines  in  the  European
information   technology  products  and  services  business.  The  net  earnings
decreased   28%  for  the  first  three  months  of  2000,   compared  with  the
corresponding  period in 1999 primarily  attributable  to volume declines in the
European information technology products and services business, partially offset
by core growth in the commercial  aircraft management business and the satellite
service business.

Mid-Market  Financing  revenues grew 26% and net earnings  increased 33% for the
first three  months of 2000,  compared  with the  corresponding  period in 1999,
primarily as a result of core growth from increased originations.

Specialized  Financing  revenues rose 115%, while net earnings increased 207% in
the first three  months of 2000,  compared  with the first three months of 1999.
Revenues  principally  reflect  increases in asset gains as well as  origination
growth.  Revenue and net earnings growth in both years is principally the result
of operating strength led by gains on sale of equity investments.

Specialty Insurance revenues grew 1% in the first three months of 2000, compared
with the  corresponding  period in 1999 as a result of increased  premium income
associated  with  origination  volume  partially  offset by reduced net realized
investment gains in the reinsurance business.  Net earnings decreased 43% in the
first  three  months of 2000,  compared  with the  corresponding  period in 1999
principally  reflecting  lower  net  realized  investment  gains  and  increased
frequency and severity of property-related losses in the reinsurance business.

All Other growth in revenues and increase in net loss were  primarily the result
of the  consolidation  of the retail  operation.  For the first three  months of
2000,  the retail  business  had  revenues of $719 million and a net loss of $80
million.
                                       7
<PAGE>
Portfolio Quality

Financing  receivables  are the  financing  businesses'  largest asset and their
primary  source of revenues.  The  portfolio of  financing  receivables,  before
allowance for losses,  increased to $144.4 billion at April 1, 2000, from $141.4
billion at the end of 1999,  primarily  reflecting  the  effects of  acquisition
growth and  higher  origination  volume,  partially  offset by foreign  currency
translation on European financing receivables.  The related allowance for losses
at April 1, 2000  amounted to $4.0 billion ($3.8 billion at the end of 1999) and
represents  management's  best  estimate  of  probable  losses  inherent  in the
portfolio given its strength and diversity,  and current economic circumstances.
A discussion about the quality of certain elements of the portfolio of financing
receivables follows. "Nonearning" receivables are those that are 90 days or more
delinquent  (or  for  which   collection  has  otherwise  become  doubtful)  and
"reduced-earning"  receivables are commercial  receivables whose terms have been
restructured to a below-market yield.

Consumer  financing  receivables,  primarily  credit card and personal loans and
auto loans and leases,  were $50.8  billion at April 1, 2000, a decrease of $1.6
billion from the end of 1999.  Nonearning  receivables  remained  steady at $0.9
billion,  1.8% of total  consumer  financing  receivables,  at April 1, 2000 and
December 31, 1999.  Write-offs of consumer receivables increased to $0.4 billion
for the first  three  months of 2000  compared  with $0.3  billion for the first
three months of 1999. This increase was primarily attributable to the effects of
higher   average   revolving   product   receivable   balances   resulting  from
acquisitions.

Other  financing  receivables,  totaling  $93.6  billion at April 1, 2000 ($89.1
billion at December 31, 1999), consisted of a diverse commercial, industrial and
equipment  loan and lease  portfolio.  Related  nonearning  and  reduced-earning
receivables  were $1.0 billion at April 1, 2000,  compared  with $0.9 billion at
year-end 1999.

The Corporation held loans and leases to commercial  airlines amounting to $12.0
billion at April 1, 2000, up from $11.8 billion at the end of 1999.

Statement of Financial Condition

The  Corporation's  assets  increased  by  $14.5  billion  from the end of 1999,
largely a result of acquisition of certain assets and liabilities of Toho Mutual
Life  Insurance  Company  ("Toho"),  an entity that was insolvent when acquired.
That  acquisition  included  approximately  $13  billion  in  cash,  as  well as
financing receivables and other assets, in exchange for assuming Toho's existing
insurance policyholder liabilities. The significant cash position of Toho at the
date of acquisition  reflects the liquidity needs of the business,  particularly
policyholder redemptions expected to occur over the succeeding six months.

Statement of Cash Flows

The  Corporation's  cash and  equivalents  increased by $9.4 billion  during the
first quarter of 2000 to $16.3 billion, principally as a result of cash acquired
in connection with the Toho acquisition. Cash provided from operating activities
amounted to $141 million  during the first three months of 2000. The decrease in
cash from operating  activities compared with last year was largely attributable
to insurance policyholder redemptions associated with the Toho acquisition. Cash
from  financing  activities  totaled  $9.5  billion,  primarily  as a result  of
insurance policyholder  liabilities assumed in the Toho acquisition,  the effect
of which was partially  offset by net  reductions in debt.  The principal use of
cash during the period was for investing  activities ($0.3 billion),  a majority
of which was  attributable  to net  purchases of  securities  by  insurance  and
annuity businesses.

                                       8
<PAGE>


                                                                      EXHIBIT 12
<TABLE>
<CAPTION>

        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 April 1, 2000

                                   (Unaudited)


                                                                                                        Ratio of
                                                                                                       Earnings to
                                                                                                      Combined Fixed
                                                                                     Ratio of          Charges and
                                                                                    Earnings to      Preferred Stock
 (Dollar Amounts In millions)                                                      Fixed Charges        Dividends
                                                                                 -----------------   -----------------
<S>                                                                                <C>                 <C>
 Net earnings ..............................................................       $       1,210       $       1,210
 Provision for income taxes ................................................                 536                 536
 Minority interest in net earnings of consolidated affiliates ..............                  50                  50
                                                                                 -----------------   -----------------
 Earnings before provision for income taxes and minority interest ..........               1,796               1,796
 Fixed charges:
    Interest ...............................................................               2,670               2,670
    One-third of rentals ...................................................                 107                 107
                                                                                 -----------------   -----------------
 Total fixed charges .......................................................               2,777               2,777
 Less interest capitalized, net of amortization ............................                 (25)                (25)
                                                                                 -----------------   -----------------
 Earnings before provision for income taxes and minority interest, plus fixed
    charges ................................................................       $       4,548       $       4,548
                                                                                 =================   =================
 Ratio of earnings to fixed charges ........................................                1.64
                                                                                 =================
 Preferred stock dividend requirements .....................................                          $         -
 Ratio of earnings before provision for income taxes to net earnings .......                                    1.44
                                                                                                     -----------------
 Preferred stock dividend factor on pre-tax basis ..........................                                    -
 Fixed charges .............................................................                                   2,777
                                                                                                     -----------------
 Total fixed charges and preferred stock dividend requirements .............                           $       2,777
                                                                                                     =================
 Ratio of earnings to combined fixed charges and preferred stock dividends .                                    1.64
                                                                                                     =================
</TABLE>


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.

                                       9
<PAGE>


                           PART II--OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K.

     a.  Exhibits.

         Exhibit 12.  Computation of ratio of earnings to fixed charges and
                      computation of ratio of earnings to combined fixed charges
                      and preferred stock dividends.

         Exhibit 27.  Financial Data Schedule (filed electronically only).

     b.  Reports on Form 8-K.

         None.


                                       10
<PAGE>


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                         GENERAL ELECTRIC CAPITAL SERVICES, INC.
                                         ---------------------------------------
                                                                    (Registrant)


Date: May 15, 2000            By:        /s/ J.A. Parke
                                       -------------------------------------
                                          J.A. Parke,
                            Executive Vice President and Chief Financial Officer
                                      (Principal Financial Officer)



Date: May 15, 2000            By:         /s/ J.C. Amble
                                       -------------------------------------
                                           J.C. Amble,
                                       Vice President and Controller
                                       (Principal Accounting Officer)


                                      11
<PAGE>

       GENERAL ELECTRIC CAPITAL SERVICES, INC. AND CONSOLIDATED AFFILIATES

                                INDEX TO EXHIBITS


EXHIBIT NO.                                                             PAGE
-----------                                                           --------

   12       Computation   of  ratio  of  earnings  to  fixed
            charges  and computation of ratio of earnings to
            combined fixed charges and preferred stock dividends ...     13


   27       Financial Data Schedule (filed electronically only)




                                       12