Exhibit 12.01

CITICORP
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES

|                                                                                                              |  | YEAR ENDED DECEMBER 31,
|------------------------------------------------------------------------------------------------------------- |  | -----------------------
|
|
|EXCLUDING INTEREST ON DEPOSITS:                                                                               |  |                        
|Fixed charges                                                                                                 |  |                        
|Interest expense (other than interest on deposits)                                                            |  | $                      
|Interest factor in rent expense                                                                               |  |                        
|                                                                                                              |  |                        
|Total fixed charges                                                                                           |  | $                      
|                                                                                                              |  |                        
|Income                                                                                                        |  |                        
|Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes |  | $                      
|Fixed charges                                                                                                 |  |                        
|                                                                                                              |  |                        
|Total income                                                                                                  |  | $                      
|                                                                                                              |  |                        
|Ratio of income to fixed charges excluding interest on deposits                                               |  |                        
|                                                                                                              |  |                        
|INCLUDING INTEREST ON DEPOSITS:                                                                               |  |                        
|Fixed charges                                                                                                 |  |                        
|Interest expense                                                                                              |  | $                      
|Interest factor in rent expense                                                                               |  |                        
|                                                                                                              |  |                        
|Total fixed charges                                                                                           |  | $                      
|                                                                                                              |  |                        
|Income                                                                                                        |  |                        
|Income from continuing operations before taxes, minority interest and cumulative effect of accounting changes |  | $                      
|Fixed charges (excluding preferred stock dividends)                                                           |  |                        
|                                                                                                              |  |                        
|Total income                                                                                                  |  | $                      
|                                                                                                              |  |                        
|Ratio of income to fixed charges including interest on deposits                                               |  |                        
|                                                                                                              |  |                        

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