EXHIBIT 12.1

The PNC Financial Services Group, Inc. and Subsidiaries

Computation of Ratio of Earnings

to Fixed Charges (1)

 

Dollars in millions

   Six Months Ended
June 30, 2008
    Year Ended December 31  
     2007     2006     2005     2004     2003  

Earnings

            

Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees

   $ 1,179     $ 1,806     $ 3,913     $ 1,962     $ 1,745     $ 1,600  

Add:

            

Distributed income of equity investees

     76       124       20        

Fixed charges excluding interest on deposits

     588       1,267       841       662       357       346  

Less:

            

Minority interest in pretax income of subsidiaries that have not incurred fixed charges

     60       101       33       20       10       32  
                                                

Earnings excluding interest on deposits

     1,783       3,096       4,741       2,604       2,092       1,914  

Interest on deposits

     812       2,053       1,590       981       484       457  
                                                

Total earnings

   $ 2,595     $ 5,149     $ 6,331     $ 3,585     $ 2,576     $ 2,371  
                                                

Fixed charges

            

Interest on borrowed funds

   $ 553     $ 1,197     $ 777     $ 599     $ 298     $ 258  

Interest component of rentals

     35       69       64       63       58       59  

Amortization of notes and debentures

       1           1       1  

Distributions on mandatorily redeemable capital securities of subsidiary trusts

               28  
                                                

Fixed charges excluding interest on deposits

     588       1,267       841       662       357       346  

Interest on deposits

     812       2,053       1,590       981       484       457  
                                                

Total fixed charges

   $ 1,400     $ 3,320     $ 2,431     $ 1,643     $ 841     $ 803  
                                                

Ratio of earnings to fixed charges

            

Excluding interest on deposits

     3.03 x     2.44 x     5.64 x     3.93 x     5.86 x     5.53 x

Including interest on deposits

     1.85       1.55       2.60       2.18       3.06       2.95  

 

(1) As defined in Item 503(d) of Regulation S-K.