EXHIBIT 12



THE BANK OF NEW YORK COMPANY, INC.

Ratios of Earnings to Fixed Charges

(Dollars in millions)



|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|---------------------------------------------------------------------------- |  | ---- | ----- | - | ---- | - | ----- | ---- |  | - | ----- | - |  | ---- | ----- | - |  | - | ----- | -
|For The Years Ended December 31                                              |  | 2005 |       |   | 2004 |   |       | 2003 |  |   | 2002  |   |  | 2001 |      
|EARNINGS                                                                     |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Income Before Income Taxes                                                   |  | $    | 2,367 |   |      | $ | 2,158 |      |  | $ | 1,752 |   |  | $    | 1,362 |   |  | $ | 2,048 |  
|Fixed Charges, Excluding Interest on Deposits                                |  |      | 563   |   |      |   | 326   |      |  |   | 266   |   |  |      | 342   |   |  |   | 602   |  
|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Income Before Income Taxes and Fixed Charges, Excluding Interest on Deposits |  |      | 2,930 |   |      |   | 2,484 |      |  |   | 2,018 |   |  |      | 1,704 |   |  |   | 2,650 |  
|Interest on Deposits                                                         |  |      | 957   |   |      |   | 548   |      |  |   | 507   |   |  |      | 644   |   |  |   | 1,392 |  
|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Income Before Income Taxes and Fixed Charges, Including Interest on Deposits |  | $    | 3,887 |   |      | $ | 3,032 |      |  | $ | 2,525 |   |  | $    | 2,348 |   |  | $ | 4,042 |  
|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|FIXED CHARGES                                                                |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Interest Expense, Excluding Interest on Deposits                             |  | $    | 490   |   |      | $ | 260   |      |  | $ | 214   |   |  | $    | 298   |   |  | $ | 547   |  
|One-Third Net Rental Expense*                                                |  |      | 73    |   |      |   | 66    |      |  |   | 52    |   |  |      | 44    |   |  |   | 55    |  
|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Total Fixed Charges, Excluding Interest on Deposits                          |  |      | 563   |   |      |   | 326   |      |  |   | 266   |   |  |      | 342   |   |  |   | 602   |  
|Interest on Deposits                                                         |  |      | 957   |   |      |   | 548   |      |  |   | 507   |   |  |      | 644   |   |  |   | 1,392 |  
|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Total Fixed Charges, Including Interest on Deposits                          |  | $    | 1,520 |   |      | $ | 874   |      |  | $ | 773   |   |  | $    | 986   |   |  | $ | 1,994 |  
|                                                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|EARNINGS TO FIXED CHARGES RATIOS                                             |  |      |       |   |      |   |       |      |  |   |       |   |  |      |       |   |  |   |       |  
|Excluding Interest on Deposits                                               |  |      | 5.20  | x |      |   | 7.62  | x    |  |   | 7.59  | x |  |      | 4.98  | x |  |   | 4.40  | x
|Including Interest on Deposits                                               |  |      | 2.56  |   |      |   | 3.47  |      |  |   | 3.27  |   |  |      | 2.38  |   |  |   | 2.03  |  

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|* | The proportion deemed representative of the interest factor.
|- | ------------------------------------------------------------