THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES EXHIBIT 12.2 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Year ended December 31 Dollars in millions 1999 1998 1997 1996 1995 - ----------------------------------------------------------------------------------------------------------------------------------- EARNINGS Income before taxes $1,891 $1,710 $1,618 $1,527 $ 627 Fixed charges and preferred stock dividends excluding interest on deposits 1,265 1,395 1,201 1,106 1,492 ---------------------------------------------------------------- Subtotal 3,156 3,105 2,819 2,633 2,119 Interest on deposits 1,369 1,471 1,457 1,428 1,552 ---------------------------------------------------------------- Total $4,525 $4,576 $4,276 $4,061 $3,671 ================================================================ FIXED CHARGES Interest on borrowed funds $1,119 $1,268 $1,098 $1,065 $1,454 Interest component of rentals 50 37 29 31 32 Amortization of notes and debentures 1 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 65 60 43 1 Preferred stock dividend requirements 30 29 30 8 5 ---------------------------------------------------------------- Subtotal 1,265 1,395 1,201 1,106 1,492 Interest on deposits 1,369 1,471 1,457 1,428 1,552 ---------------------------------------------------------------- Total $2,634 $2,866 $2,658 $2,534 $3,044 ================================================================ RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 2.49x 2.23x 2.35x 2.38x 1.42x Including interest on deposits 1.72 1.60 1.61 1.60 1.21 ===================================================================================================================================