Exhibit 12.2

The PNC Financial Services Group, Inc. and Subsidiaries

Computation of Ratio of Earnings

to Fixed Charges and Preferred Stock Dividends (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 and preferred stock dividends excluding interest on deposits

     1,109       1,268       842       663       358  

Less:

          

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

     122       101       33       20       10  

Preferred stock dividend requirements

     33       1       1       1       1  
                                        

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 and preferred stock dividends

          

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

          

Preferred stock dividend requirements

     33       1       1       1       1  
                                        

Fixed charges and preferred stock dividends excluding interest on deposits

     1,109       1,268       842       663       358  

Interest on deposits

     1,485       2,053       1,590       981       484  
                                        

Total fixed charges and preferred stock dividends

   $ 2,594     $ 3,321     $ 2,432     $ 1,644     $ 842  
                                        

Ratio of earnings to fixed charges and preferred stock dividends

          

Excluding interest on deposits

     1.96 x     2.44 x     5.63 x     3.93 x     5.84 x

Including interest on deposits

     1.41       1.55       2.60       2.18       3.06  

 

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