EXHIBIT 12



Statement Regarding Computation of Ratios



The ratios of income to fixed charges have been computed on the basis of the
total enterprise (as defined by the Commission) by dividing income before fixed charges and income taxes by fixed charges. Fixed charges consist of interest expense on all long-term and short-term borrowings, excluding or including interest on
deposits as indicated below. The computations of other ratios are evident from the information presented in this Form 10-Q and the Corporations 2003 Annual Report.



Bank One Corporation and Subsidiaries



COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES



|                                                                                   |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|---------------------------------------------------------------------------------- |  | -------------------------------- | ----- | - | -------------- | - | ----- | -------------- |  | - | -------------- | - |  | ------------------ | ------ | - | -------------- | - | ------ | - |  | - | ------ | -
|(In millions, except ratios)                                                       |  | Three MonthsEnded March 31, 2004 |       |   | Year Ended2003 |   |       | Year Ended2002 |  |   | Year Ended2001 |   |  | Year Ended2000 (1) |        |   | Year Ended1999 |  
|EXCLUDING INTEREST ON DEPOSITS:                                                    |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|Pretax income (loss) from continuing operations                                    |  | $                                | 1,761 |   |                | $ | 4,390 |                |  | $ | 4,702          |   |  | $                  | 3,748  |   |                | $ | (1,119 | ) |  | $ | 4,932  |  
|Earnings (loss) from unconsolidated entities under the equity method of accounting |  |                                  | 36    |   |                |   | 140   |                |  |   | 91             |   |  |                    | (80    | ) |                |   | (129   | ) |  |   | (47    | )
|Fixed charges, excluding capitalized interest                                      |  |                                  | 647   |   |                |   | 2,585 |                |  |   | 2,720          |   |  |                    | 3,867  |   |                |   | 5,198  |   |  |   | 3,719  |  
|                                                                                   |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|Adjusted pretax earnings base                                                      |  |                                  | 2,444 |   |                |   | 7,115 |                |  |   | 7,513          |   |  |                    | 7,535  |   |                |   | 3,950  |   |  |   | 8,604  |  
|Interest, excluding interest on deposits                                           |  |                                  | 621   |   |                |   | 2,481 |                |  |   | 2,621          |   |  |                    | 3,771  |   |                |   | 5,105  |   |  |   | 3,622  |  
|Rental factor                                                                      |  |                                  | 26    |   |                |   | 104   |                |  |   | 99             |   |  |                    | 96     |   |                |   | 93     |   |  |   | 97     |  
|Capitalized interest                                                               |  |                                  |      |   |                |   | 2     |                |  |   | 1              |   |  |                    | 4      |   |                |   | 9      |   |  |   | 2      |  
|                                                                                   |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|Fixed charges                                                                      |  |                                  | 647   |   |                |   | 2,587 |                |  |   | 2,721          |   |  |                    | 3,871  |   |                |   | 5,207  |   |  |   | 3,721  |  
|Consolidated ratios of earnings to fixed charges, excluding interest on deposits   |  |                                  | 3.8   | x |                |   | 2.8   | x              |  |   | 2.8            | x |  |                    | 1.9    | x |                |   | 0.8    | x |  |   | 2.3    | x
|INCLUDING INTEREST ON DEPOSITS:                                                    |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|Pretax income (loss) from continuing operations                                    |  | $                                | 1,761 |   |                | $ | 4,390 |                |  | $ | 4,702          |   |  | $                  | 3,748  |   |                | $ | (1,119 | ) |  | $ | 4,932  |  
|Earnings (loss) from unconsolidated entities under the equity method of accounting |  |                                  | 36    |   |                |   | 140   |                |  |   | 91             |   |  |                    | (80    | ) |                |   | (129   | ) |  |   | (47    | )
|Fixed charges, excluding capitalized interest                                      |  |                                  | 1,119 |   |                |   | 4,616 |                |  |   | 5,431          |   |  |                    | 8,748  |   |                |   | 11,322 |   |  |   | 8,357  |  
|                                                                                   |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|Adjusted pretax earnings base                                                      |  |                                  | 2,916 |   |                |   | 9,146 |                |  |   | 10,224         |   |  |                    | 12,416 |   |                |   | 10,074 |   |  |   | 13,242 |  
|Interest, including interest on deposits                                           |  |                                  | 1,093 |   |                |   | 4,512 |                |  |   | 5,332          |   |  |                    | 8,652  |   |                |   | 11,229 |   |  |   | 8,260  |  
|Rental factor                                                                      |  |                                  | 26    |   |                |   | 104   |                |  |   | 99             |   |  |                    | 96     |   |                |   | 93     |   |  |   | 97     |  
|Capitalized interest                                                               |  |                                  |      |   |                |   | 2     |                |  |   | 1              |   |  |                    | 4      |   |                |   | 9      |   |  |   | 2      |  
|                                                                                   |  |                                  |       |   |                |   |       |                |  |   |                |   |  |                    |        |   |                |   |        |   |  |   |        |  
|Fixed charges                                                                      |  |                                  | 1,119 |   |                |   | 4,618 |                |  |   | 5,432          |   |  |                    | 8,752  |   |                |   | 11,331 |   |  |   | 8,359  |  
|Consolidated ratios of earnings to fixed charges, including interest on deposits   |  |                                  | 2.6   | x |                |   | 2.0   | x              |  |   | 1.9            | x |  |                    | 1.4    | x |                |   | 0.9    | x |  |   | 1.6    | x



|(1) | Results for the year ended December 31, 2000 were insufficient to cover fixed charges. The
coverage deficiency was approximately $1.3 billion.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------



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