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                        FIRST NATIONWIDE HOLDINGS INC. 
                 RATIO OF EARNINGS TO COMBINED FIXED CHARGES, 
               MINORITY INTEREST AND PREFERRED STOCK DIVIDENDS 

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<CAPTION>
                                                                               YEAR ENDED DECEMBER 31, 
                                                             ---------------------------------------------------------- 
                                                                 1996         1995        194        1993        1992 
                                                             -----------  ----------  ----------  ---------  ---------- 
<S>                                                          <C>          <C>         <C>         <C>        <C>
Fixed charges (excluding interest on deposits): 
----------------------------------------------------------- 
Interest on borrowings                                        $  388,626    $287,456    $ 98,888   $ 16,700    $ 11,137 
Total fixed charges (excluding interest on deposits)             388,626     287,456      98,888     16,700      11,137 
Rent interest factor                                               5,044       6,628       1,746        361       2,595 
Income before income taxes, extraordinary item 
  and minority interest                                          549,208     122,450      31,928    146,618     215,555 
Earnings                                                         942,878     416,534     132,562    163,679     229,287 
Fixed charges (excluding interest on deposits)                   393,670     294,064     100,634     17,061      13,732 
Minority interest and preferred stock dividends                   48,045      34,584           0          0       7,623 
Combined fixed charges (excluding interest on 
  deposits), minority interest and preferred stock dividends     441,715     328,668     100,634     17,061      21,355 
Ratio of earnings to combined fixed charges, 
  (excluding interest on deposits), minority interest 
  and preferred stock dividends                                     2.13x       1.27x       1.32x      9.59x      10.74x 
Fixed charges (including interest on deposits): 
----------------------------------------------------------- 
Interest on deposits                                          $  419,174    $447,359    $100,957   $ 55,410    $430,933 
Interest on borrowings                                           388,626     287,456      98,888     16,700      11,137 
Total fixed charges (including interest on deposits)             807,800     734,815     199,845     72,110     442,070 
Rent interest factor                                               5,044       6,628       1,746        361       2,595 
Income before income taxes, extraordinary item 
  and minority interest                                          549,208     122,450      31,928    146,618     215,555 
Earnings                                                       1,362,052     863,893     233,519    219,089     660,220 
Fixed charges (including interest on deposits)                   812,844     741,443     201,591     72,471     444,665 
Minority interest and preferred stock dividends                   48,045      34,584           0          0       7,623 
Combined fixed charges (including interest on 
  deposits), minority interest and preferred stock 
 dividends                                                       860,889     776,027     201,591     72,471     452,288 
Ratio of earnings to combined fixed charges (including 
  interest on deposits), minority interest and preferred 
  stock dividends                                                   1.58x       1.11x       1.16x      3.02x       1.46x 
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