Exhibit 12.1

The PNC Financial Services Group, Inc. and Subsidiaries

Computation of Ratio of Earnings

to Fixed Charges (1)

 

     Year Ended December 31  

Dollars in millions

    2008     2007     2006     2005     2004  

Earnings

           

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

    $ 1,063     $ 1,806     $ 3,913     $ 1,962     $ 1,745  

Add:

           

Distributed income of equity investees

      157       124       20      

Fixed charges excluding interest on deposits

      1,076       1,267       841       662       357  

Less:

           

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

      122       101       33       20       10  
                                        

Earnings excluding interest on deposits

      2,174       3,096       4,741       2,604       2,092  

Interest on deposits

      1,485       2,053       1,590       981       484  
                                        

Total earnings

    $ 3,659     $ 5,149     $ 6,331     $ 3,585     $ 2,576  
                                        

Fixed charges

           

Interest on borrowed funds

    $ 1,004     $ 1,197     $ 777     $ 599     $ 298  

Interest component of rentals

      71       69       64       63       58  

Amortization of notes and debentures

      1       1           1  

Distributions on mandatorily redeemable capital securities of subsidiary trusts

           
                                        

Fixed charges excluding interest on deposits

      1,076       1,267       841       662       357  

Interest on deposits

      1,485       2,053       1,590       981       484  
                                        

Total fixed charges

    $ 2,561     $ 3,320     $ 2,431     $ 1,643     $ 841  
                                        

Ratio of earnings to fixed charges

           

Excluding interest on deposits

      2.02 x     2.44 x     5.64 x     3.93 x     5.86 x

Including interest on deposits

      1.43       1.55       2.60       2.18       3.06  

 

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