Exhibit - 12.2



COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



|                                                    |  |                                                                                                                                |  |      |       |      |   |       |  |      |       |  |   |       |  |   |      
|--------------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------ |  | ---- | ----- | ---- | - | ----- |  | ---- | ----- |  | - | ----- |  | - | -----
|                                                   
|Mellon Financial Corporation (and its subsidiaries) |  | Year ended Dec. 31,                                                                                                           
|(dollar amounts in millions)                        |  | 2003                                                                                                                           |  | 2002 |       | 2001 |   | 2000  |  | 1999
|                                                   
|1.                                                  |  | Income from continuing operations before impact of accounting change                                                           |  | $    | 677   |      | $ | 663   |  | $    | 435   |  | $ | 756   |  | $ | 742  
|2.                                                  |  | Provision for income taxes                                                                                                     |  |      | 311   |      |   | 323   |  |      | 239   |  |   | 427   |  |   | 431  
|                                                   
|3.                                                  |  | Income from continuing operations before provision for income taxes and impact of accounting change (line 1 + line 2)          |  | $    | 988   |      | $ | 986   |  | $    | 674   |  | $ | 1,183 |  | $ | 1,173
|                                                   
|4.                                                  |  | Fixed charges:                                                                                                                 |  |      |       |      |   |       |  |      |       |  |   |       |  |   |      
|                                                    |  | a. Interest expense (excluding interest on deposits)                                                                           |  | $    | 234   |      | $ | 274   |  | $    | 393   |  | $ | 512   |  | $ | 534  
|                                                    |  | b. One-third of rental expense net of income from subleases and amortization of debt issuance costs                            |  |      | 60    |      |   | 58    |  |      | 46    |  |   | 40    |  |   | 41   
|                                                   
|                                                    |  | c. Total fixed charges (excluding interest on deposits) (line 4a + line 4b)                                                    |  |      | 294   |      |   | 332   |  |      | 439   |  |   | 552   |  |   | 575  
|                                                    |  | d. Interest on deposits                                                                                                        |  |      | 114   |      |   | 172   |  |      | 430   |  |   | 340   |  |   | 355  
|                                                   
|                                                    |  | e. Total fixed charges (line 4c + line 4d)                                                                                     |  | $    | 408   |      | $ | 504   |  | $    | 869   |  | $ | 892   |  | $ | 930  
|                                                   
|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)                                                                           |  | $    | 1,282 |      | $ | 1,318 |  | $    | 1,113 |  | $ | 1,735 |  | $ | 1,748
|                                                   
|                                                    |  | b. Including interest on deposits (line 3 + line 4e)                                                                           |  | $    | 1,396 |      | $ | 1,490 |  | $    | 1,543 |  | $ | 2,075 |  | $ | 2,103
|                                                   
|6.                                                  |  | Ratio of earnings (as defined) to combined fixed charges:                                                                      |  |      |       |      |   |       |  |      |       |  |   |       |  |   |      
|                                                    |  | a. Excluding interest on deposits (line 5a divided by line 4c)                                                                 |  |      | 4.36  |      |   | 3.97  |  |      | 2.54  |  |   | 3.14  |  |   | 3.04 
|                                                    |  | b. Including interest on deposits (line 5b divided by line 4e)                                                                 |  |      | 3.42  |      |   | 2.96  |  |      | 1.78  |  |   | 2.33  |  |   | 2.26 
|