Exhibit - 12.2



COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



Mellon Financial Corporation (and its subsidiaries)



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|--------------------------------------------------------------------------------------------------------------------------------- | ---- | ------------------- | ----- |  | ---- | ----- | ---- | - | ----- |  | - | ----- |  | - | -----
|(dollar amounts in millions)                                                                                                      |      | Year ended Dec. 31,
|                                                                                                                                  | 2004 |                     | 2003  |  | 2002 |       | 2001 |   | 2000 
|1. Income from continuing operations before impact of accounting change                                                           |      | $                   | 800   |  | $    | 683   |      | $ | 670   |  | $ | 435   |  | $ | 756  
|2. Provision for income taxes                                                                                                     |      |                     | 357   |  |      | 313   |      |   | 327   |  |   | 239   |  |   | 427  
|                                                                                                                                  |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|3. Income from continuing operations before provision for income taxes and impact of accounting change (line 1 + line 2)          |      | $                   | 1,157 |  | $    | 996   |      | $ | 997   |  | $ | 674   |  | $ | 1,183
|                                                                                                                                  |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|4. Fixed charges:                                                                                                                 |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|a. Interest expense (excluding interest on deposits)                                                                              |      | $                   | 231   |  | $    | 233   |      | $ | 274   |  | $ | 393   |  | $ | 512  
|b. One-third of rental expense net of income from subleases and amortization of debt issuance costs                               |      |                     | 51    |  |      | 58    |      |   | 55    |  |   | 46    |  |   | 40   
|                                                                                                                                  |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|c. Total fixed charges (excluding interest on deposits) (line 4a + line 4b)                                                       |      |                     | 282   |  |      | 291   |      |   | 329   |  |   | 439   |  |   | 552  
|d. Interest on deposits                                                                                                           |      |                     | 173   |  |      | 131   |      |   | 171   |  |   | 430   |  |   | 340  
|                                                                                                                                  |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|e. Total fixed charges (line 4c + line 4d)                                                                                        |      | $                   | 455   |  | $    | 422   |      | $ | 500   |  | $ | 869   |  | $ | 892  
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|5. Income from continuing operations before provision for income taxes and impact of accounting change, plus total fixed
charges: |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|a. Excluding interest on deposits (line 3 + line 4c)                                                                              |      | $                   | 1,439 |  | $    | 1,287 |      | $ | 1,326 |  | $ | 1,113 |  | $ | 1,735
|                                                                                                                                  |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|b. Including interest on deposits (line 3 + line 4e)                                                                              |      | $                   | 1,612 |  | $    | 1,418 |      | $ | 1,497 |  | $ | 1,543 |  | $ | 2,075
|                                                                                                                                  |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|6. Ratio of earnings (as defined) to combined fixed charges:                                                                      |      |                     |       |  |      |       |      |   |       |  |   |       |  |   |      
|a. Excluding interest on deposits (line 5a divided by line 4c)                                                                    |      |                     | 5.11  |  |      | 4.41  |      |   | 4.02  |  |   | 2.54  |  |   | 3.14 
|b. Including interest on deposits (line 5b divided by line 4e)                                                                    |      |                     | 3.54  |  |      | 3.36  |      |   | 2.99  |  |   | 1.78  |  |   | 2.33 
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