Exhibit 12.2



COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Mellon Financial Corporation and its subsidiaries)



Mellon Financial Corporation

(and its
subsidiaries)



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|                                                                                                                                                                   |  |               |      |                  |   |              |  |              |      |              |   |       |  |   |     
|------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | ------------- | ---- | ---------------- | - | ------------ |  | ------------ | ---- | ------------ | - | ----- |  | - | ----
|                                                                                                                                                                   |  | Quarter ended |      | Six months ended
|(dollar amounts in millions)                                                                                                                                       |  | June 30,2005  |      | March 31,2005    |   | June 30,2004 |  | June 30,2005 |      | June 30,2004
|Income from continuing operations before provision for income taxes                                                                                                |  | $             | 296  |                  | $ | 466          |  | $            | 265  |              | $ | 762   |  | $ | 630 
|Fixed charges: interest expense (excluding interest on deposits), one-third of rental expense net of income from subleases and amortization of
debt issuance costs |  |               | 84   |                  |   | 75           |  |              | 65   |              |   | 159   |  |   | 132 
|Total earnings (as defined), excluding interest on deposits                                                                                                        |  |               | 380  |                  |   | 541          |  |              | 330  |              |   | 921   |  |   | 762 
|Interest on deposits                                                                                                                                               |  |               | 85   |                  |   | 67           |  |              | 29   |              |   | 152   |  |   | 60  
|Total earnings (as defined)                                                                                                                                        |  | $             | 465  |                  | $ | 608          |  | $            | 359  |              | $ | 1,073 |  | $ | 822 
|Ratio of earnings (as defined) to fixed charges:                                                                                                                   |  |               |      |                  |   |              |  |              |      |              |   |       |  |   |     
|Excluding interest on deposits                                                                                                                                     |  |               | 4.55 |                  |   | 7.18         |  |              | 5.05 |              |   | 5.80  |  |   | 5.77
|Including interest on deposits                                                                                                                                     |  |               | 2.76 |                  |   | 4.26         |  |              | 3.79 |              |   | 3.45  |  |   | 4.27