EXHIBIT 12

       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

                      NINE MONTHS ENDED SEPTEMBER 28, 1996

                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                      RATIO OF
                                                                    EARNINGS TO
                                                                      COMBINED
                                                                        FIXED
                                                          RATIO OF   CHARGES AND
                                                          EARNINGS    PREFERRED
                                                          TO FIXED      STOCK
(Dollar amounts in millions)                               CHARGES    DIVIDENDS
                                                           --------  -----------
<S>                                                        <C>         <C>  

Net earnings ...........................................   $  2,149    $  2,149
Provision for income taxes .............................        954         954
Minority interest in net earnings  of consolidated
 affiliates ............................................        120         120
                                                           --------    --------
Earnings before provision for income taxes and
 minority interest .....................................      3,223       3,223
                                                           --------    --------
Fixed charges:
   Interest ............................................      5,329       5,329
   One-third of rentals ................................        129         129
                                                           --------    --------
Total fixed charges ....................................      5,458       5,458
                                                           --------    --------

Less capitalized interest, net of amortization .........         26          26
                                                           --------    --------
Earnings before provision for income taxes and
 minority interest plus fixed charges ..................   $  8,655    $  8,655
                                                           ========    ========

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

Preferred stock dividend requirements ..................               $     --
Ratio of earnings before provision for income taxes to
 net earnings ..........................................                   1.44
Preferred stock dividend on pre-tax basis ..............                     --
Fixed charges ..........................................                  5,458
                                                                       --------
Total fixed charges and preferred stock dividend 
 requirements ..........................................               $  5,458
                                                                       ========

Ratio of earnings to combined fixed charges and
 preferred stock dividends .............................                   1.59
                                                                       ========
</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.