Exhibit - 12.2



COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO

OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS



Mellon Financial Corporation

and its subsidiaries



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|(dollar amounts in millions)                                                                                                        
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|1.    Income from continuing operations before impact of accounting change                                                          
|2.    Provision for income taxes                                                                                                    
|                                                                                                                                    
|3.    Income from continuing operations before provision for income
taxes and impact of accounting
change (line 1 + line 2)         
|                                                                                                                                    
|4.    Fixed charges:                                                                                                                
|a. Interest expense (excluding interest on deposits)                                                                                
|b. One-third of rental expense net of income from subleases and amortization of debt
issuance costs                                 
|                                                                                                                                    
|c. Total fixed charges (excluding interest on deposits) (line 4a + line
4b)                                                         
|d. Interest on deposits                                                                                                             
|                                                                                                                                    
|e. Total fixed charges (line 4c + line 4d)                                                                                          
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|5.    Preferred stock dividend requirements
(a)                                                                                     
|                                                                                                                                    
|6.    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)                                                                                
|                                                                                                                                    
|b. Including interest on deposits (line 3 + line 4e)                                                                                
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|7.    Ratio of earnings (as defined) to fixed charges:                                                                              
|a. Excluding interest on deposits (line 6a divided by line 4c)                                                                      
|b. Including interest on deposits (line 6b divided by line 4e)                                                                      
|                                                                                                                                    
|8.    Ratio of earnings (as defined) to combined fixed charges and preferred stock dividends:                                       
|a. Excluding interest on deposits [line 6a divided by (line 4c + line
5)]                                                           
|b. Including interest on deposits [line 6b divided by (line 4e + line
5)]                                                           
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|(a) |  | Preferred stock dividend requirements for 1998 represent the pretax amounts required to cover preferred stock dividends.
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