**EXHIBIT12.1**

 

**Ratiosof Earnings to Fixed Charges – Continuing Operations**

 

The Company’s consolidated ratios of earnings to fixedcharges – continuing operations for each of the periods indicated are setfourth below:

 
|                                                                                                            |   | **Year Ended December 31,** |    |
|-----------------------------------------------------------------------------------------------------------------|--------|-----------------------------|---------|
|                                                                                                            |   | **2001**                    |    | **2000** |   | **1999** |   |
|                                                                                                            |   | **(Dollars  in millions)**  |    |
| Income from  continuing operations before income taxes                                                          |   | $                           | 668     |   | $ | 424 |   | $ | 364 |   |
| Combined fixed  charges:                                                                                        |   |                        |    |   |   |   |   |
| Interest expense  of deposits                                                                                   |   | 443                         |    | 509 |   | 480 |   |
| Interest expense  on senior bank notes                                                                          |   | 10                          |    | 12 |   | 14 |   |
| Interest expense  on subordinated bank notes                                                                    |   | 14                          |    | 3 |   | — |   |
| Interest expense  on guaranteed preferred beneficial interest in Company’s junior subordinated  debentures |   | 18                          |    | 18 |   | 18 |   |
| Appropriate  portion (1/3) of rent expense                                                                      |   | 9                           |    | 6 |   | 7 |   |
| Total combined  fixed charges                                                                                   |   | $                           | 494     |   | $ | 548 |   | $ | 519 |   |
|                                                                                                            |   |                        |    |   |   |   |   |
| Total combined  fixed charges (excluding interest expense on deposits)                                          |   | $                           | 51      |   | $ | 39 |   | $ | 39 |   |
|                                                                                                            |   |                        |    |   |   |   |   |
| Earnings before  income taxes and fixed charges                                                                 |   | $                           | 1,162   |   | $ | 972 |   | $ | 883 |   |
|                                                                                                            |   |                        |    |   |   |   |   |
| Ratio of earnings  to fixed charges (including interest expense on deposits)                                    |   | 2.35                        | x  | 1.77 | x  | 1.70 | x  |
|                                                                                                            |   |                        |    |   |   |   |   |
| Ratio of  earnings to fixed charges (excluding interest expense on deposits)                                    |   | 14.10                       | x  | 11.87 | x  | 10.33 | x  |

 

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