PNC BANK CORP. EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Nine Year ended December 31
months ended -------------------------------------------------------------
Dollars in millions September 30, 1999 1998 1997 1996 1995 1994
- -----------------------------------------------------------------------------------------------------------------------------
EARNINGS
Income before taxes and cumulative effect
of changes in accounting principles $ 1,458 $ 1,710 $ 1,618 $ 1,527 $ 627 $ 1,209
Fixed charges excluding interest on deposits 909 1,366 1,171 1,098 1,487 1,104
------------- ----------- ----------- ----------- ----------- -----------
Subtotal 2,367 3,076 2,789 2,625 2,114 2,313
Interest on deposits 1,024 1,471 1,457 1,428 1,552 1,160
------------- ----------- ----------- ----------- ----------- -----------
Total $ 3,391 $ 4,547 $ 4,246 $ 4,053 $ 3,666 $ 3,473
============= =========== =========== =========== =========== ===========
FIXED CHARGES
Interest on borrowed funds $ 823 $ 1,267 $ 1,098 $ 1,065 $ 1,454 $ 1,071
Interest component of rentals 38 37 29 31 32 32
Amortization of notes and debentures 2 1 1 1 1
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trusts 48 60 43 1
------------- ----------- ----------- ----------- ----------- -----------
Subtotal 909 1,366 1,171 1,098 1,487 1,104
Interest on deposits 1,024 1,471 1,457 1,428 1,552 1,160
------------- ----------- ----------- ----------- ----------- -----------
Total $ 1,933 $ 2,837 $ 2,628 $ 2,526 $ 3,039 $ 2,264
============= =========== =========== =========== =========== ===========
RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.60 x 2.25 x 2.38 x 2.39 x 1.42 x 2.10 x
Including interest on deposits 1.75 1.60 1.62 1.60 1.21 1.53
==============================================================================================================================