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                                                                   EXHIBIT 12(b)

               BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
    COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
                    AND PREFERRED STOCK DIVIDEND REQUIREMENTS
                              (dollars in millions)

<TABLE>
<CAPTION>
                                                                                         Year Ended December 31,
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                                                                            1993       1994       1995       1996       1997
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<S>                                                                      <C>        <C>        <C>        <C>        <C>    
Earnings:
 1.  Income before income taxes and cumulative effects of
       accounting changes                                                $ 1,698    $   987    $   469    $ 1,131    $ 1,239
 2.  Add: Fixed charges excluding capitalized interest (Line 13)           3,168      3,911      5,138      5,483      5,963
 3.  Less: Equity in undistributed income of unconsolidated
       subsidiaries and affiliates                                            30         45         28         30       (117)
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 4.  Earnings including interest on deposits                               4,836      4,853      5,579      6,584      7,319
 5.  Less: Interest on deposits                                            1,013        965      1,360      1,355      2,076
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 6.  Earnings excluding interest on deposits                             $ 3,823    $ 3,888    $ 4,219    $ 5,229    $ 5,243
============================================================================================================================
Preferred Stock Dividend Requirements:
 7.  Preferred stock dividend requirements                               $    23    $    28    $    51    $    51    $    49
 8.  Ratio of income from continuing operations before income taxes to
       income from continuing operations after income taxes                  147%       144%       151%       148%       143%
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 9.  Preferred stock dividend requirements on a pretax basis             $    34    $    40    $    77    $    75         70
============================================================================================================================
Fixed Charges:

10.  Interest Expense                                                    $ 3,137    $ 3,880    $ 5,105    $ 5,451    $ 5,926
11.  Estimated interest component of net rental expense                       31         31         33         32         33
12.  Amortization of debt issuance expense                                    --         --         --         --          4
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13.  Total fixed charges including interest on deposits and
       excluding capitalized interest                                      3,168      3,911      5,138      5,483      5,963
14.  Add: Capitalized interest                                                --         --         --         --         --
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15.  Total fixed charges                                                   3,168      3,911      5,138      5,483      5,963
16.  Add: Preferred stock dividend requirements--pretax (Line 9)              34         40         77         75         70
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17.  Total combined fixed charges and preferred
       stock dividend requirements on a pretax basis                       3,202      3,951      5,215      5,558      6,033
18.  Less: Interest on deposits (Line 5)                                   1,013        965      1,360      1,355      2,076
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19.  Combined fixed charges and preferred stock dividend requirements
       on a pretax basis excluding interest on deposits                  $ 2,189    $ 2,986    $ 3,855    $ 4,203    $ 3,957
============================================================================================================================
Consolidated Ratios of Earnings to Combined Fixed Charges and
     Preferred Stock Dividend Requirements:

Including interest on deposits (Line 4/Line 17)                             1.51       1.23       1.07       1.18       1.21
============================================================================================================================
Excluding interest on deposits (Line 6/Line 19)                             1.75       1.30       1.09       1.24       1.32
============================================================================================================================
</TABLE>


               BANKERS TRUST NEW YORK CORPORATION AND SUBSIDIARIES
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