EXHIBIT 12.1

The PNC Financial Services Group, Inc. and Subsidiaries

Computation of Ratio of Earnings

to Fixed Charges (1)

 

     Three months ended       Year Ended December 31  
Dollars in millions    March 31, 2009     2008     2007     2006     2005     2004  

Earnings

            

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

   $ 705     $ 1,127     $ 1,806     $ 3,913     $ 1,962     $ 1,745  

Add:

            

Distributed income of equity investees

     45       157       124       20      

Fixed charges excluding interest on deposits

     443       1,076       1,267       841       662       357  

Less:

            

Noncontrolling interests in pretax income of subsidiaries that have not incurred fixed charges

     30       122       101       33       20       10  

Earnings excluding interest on deposits

     1,163       2,238       3,096       4,741       2,604       2,092  

Interest on deposits

     546       1,485       2,053       1,590       981       484  

Total earnings

   $ 1,709     $ 3,723     $ 5,149     $ 6,331     $ 3,585     $ 2,576  

Fixed charges

            

Interest on borrowed funds

   $ 409     $ 1,004     $ 1,197     $ 777     $ 599     $ 298  

Interest component of rentals

     34       71       69       64       63       58  

Amortization of notes and debentures

             1       1                       1  

Fixed charges excluding interest on deposits

     443       1,076       1,267       841       662       357  

Interest on deposits

     546       1,485       2,053       1,590       981       484  

Total fixed charges

   $ 989     $ 2,561     $ 3,320     $ 2,431     $ 1,643     $ 841  

Ratio of earnings to fixed charges

            

Excluding interest on deposits

     2.63 x     2.08 x     2.44 x     5.64 x     3.93 x     5.86 x

Including interest on deposits

     1.73       1.45       1.55       2.60       2.18       3.06  

 

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