**Exhibit No. 12.1**

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**UNIONBANCAL CORPORATION AND SUBSIDIARIES**

**COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES REQUIREMENTS**

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| ** **                                                                                                         | ** ** | **For the Years Ended December 31,** | ** ** |
|--------------------------------------------------------------------------------------------------------------------|------------|--------------------------------------|------------|
| **(In millions, except ratios)**                                                                                   | ** ** | **2001**                             | ** ** | **2002** | ** ** | **2003** | ** ** | **2004** | ** ** | **2005** | ** ** |
| EXCLUDING INTEREST ON DEPOSITS                                                                                     |       |                                 |       |   |   |   |   |   |   |   |   |
| Income before income taxes and effect of  accounting changes                                                       |       | $                                    | 669        |   | $ | 736 |   | $ | 824 |   | $ | 1,109 |   | $ | 1,087 |   |
| Fixed Charges:                                                                                                     |       |                                 |       |   |   |   |   |   |   |   |   |
| Interest expense, excluding interest on  deposits                                                                  |       | 168                                  |       | 59 |   | 37 |   | 38 |   | 82 |   |
| One third of rents, net income from  subleases (A)                                                                 |       | 8                                    |       | 11 |   | 11 |   | 14 |   | 17 |   |
| Total fixed charges                                                                                                |       | 176                                  |       | 70 |   | 48 |   | 52 |   | 99 |   |
| Earnings before taxes, fixed charges, and  effect of accounting changes, excluding capitalized interest            |       | $                                    | 845        |   | $ | 806 |   | $ | 872 |   | $ | 1,161 |   | $ | 1,186 |   |
| Ratio of earnings to fixed charges  requirements                                                                   |       | 4.80                                 |       | 11.51 |   | 18.17 |   | 22.33 |   | 11.98 |   |
|                                                                                                               |       |                                 |       |   |   |   |   |   |   |   |   |
| INCLUDING INTEREST ON DEPOSITS                                                                                     |       |                                 |       |   |   |   |   |   |   |   |   |
| Fixed charges                                                                                                      |       | $                                    | 176        |   | $ | 70 |   | $ | 48 |   | $ | 52 |   | $ | 99 |   |
| Add: Interest on deposits                                                                                          |       | 476                                  |       | 220 |   | 152 |   | 147 |   | 303 |   |
| Total fixed charges including interest on  deposits                                                                |       | $                                    | 652        |   | $ | 290 |   | $ | 200 |   | $ | 199 |   | $ | 402 |   |
| Earnings before taxes, fixed charges, and  effect of accounting changes, excluding capitalized interest, as above. |       | $                                    | 845        |   | $ | 806 |   | $ | 872 |   | $ | 1,161 |   | $ | 1,186 |   |
| Add: Interest on deposits                                                                                          |       | 476                                  |       | 220 |   | 152 |   | 147 |   | 303 |   |
| Total earnings before taxes, fixed charges,  effect of accounting changes, and interest on deposits           |       | $                                    | 1,321      |   | $ | 1,026 |   | $ | 1,024 |   | $ | 1,308 |   | $ | 1,489 |   |
| Ratio of earnings to fixed charges  requirements                                                                   |       | 2.03                                 |       | 3.54 |   | 5.12 |   | 6.57 |   | 3.70 |   |

 

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(A) The proportion deemedrepresentative of the interest factor.

 

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