UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: July 21, 1997
REPUBLIC NEW YORK CORPORATION
(Exact name of registrant as specified in its charter)
Maryland 1-7436 13-2764867
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
452 Fifth Avenue, New York, New York 10018
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 525-6100
<PAGE>
Item 5. Other Events
In connection with the filing of a Prospectus Supplement dated
July 17, 1997 relating to the offering of $250,000,000 aggregate principal
amount of the Corporation's 7.20% Subordinated Debentures Due 2097, the
Corporation is hereby filing the document listed under Item 7 below as an
Exhibit to the Corporation's Shelf Registration Statement, as amended (No.
33-49507). Such document is hereby incorporated herein by reference in this
Current Report on Form 8-K and a copy of the same is attached hereto as an
exhibit.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
c. Exhibits
12 Calculation of Ratios of Earnings to Fixed
Charges - Consolidated
<PAGE>
SIGNATURE
Pursuant to the requirement of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
REPUBLIC NEW YORK CORPORATION
By: /s/ William F. Rosenblum, Jr.
Senior Vice President
Date: July 21, 1997
<TABLE>
EXHIBIT 12
CALCULATION OF RATIOS OF EARNINGS TO
FIXED CHARGES-CONSOLIDATED
<CAPTION>
Three Months Ended
Years Ended December 31, March 31,
---------------------------------------------------------- --------------------
1992 1993 1994 1995 1996 1996 1997
---- ---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C> <C>
Excluding Interest on Deposits
Fixed Charges:
Interest on long-term debt and short-term
borrowings........................... $ 513,322 $ 467,841 $ 499,065 $ 489,697 $ 588,693 $139,059 $159,042
One-third of rent expense............... 10,252 10,859 14,412 13,651 14,495 3,486 3,568
---------- ---------- ---------- ---------- ---------- -------- --------
Total fixed charges................. $ 523,574 $ 478,700 $ 513,477 $ 503,348 $ 603,188 $142,545 $162,610
========== ========== ========== ========== ========== ======== ========
Earnings:
Income before income taxes.............. $ 347,269 $ 451,358 $ 492,366 $ 398,115 $ 590,546 $142,009 $161,773
Fixed charges........................... 523,574 478,700 513,477 503,348 603,188 142,545 162,610
---------- ---------- ---------- ---------- ---------- -------- --------
Total earnings..................... $ 870,843 $ 930,058 $1,005,843 $ 901,463 $1,193,734 $284,554 $324,383
========== ========== ========== ========== ========== ======== ========
Ratio of earnings to fixed charges excluding
interest on deposits.................... 1.66x 1.94x 1.96x 1.79x 1.98x 2.00x 1.99x
----- ----- ----- ----- ----- ----- -----
Including Interest on Deposits
Fixed Charges:
Interest on long-term debt, short-term
borrowings and deposits............ $1,318,228 $1,157,075 $1,326,855 $1,627,772 $1,870,898 $442,561 $493,903
One-third of rent expense............. 10,252 10,859 14,412 13,651 14,495 3,486 3,568
---------- ---------- ---------- ---------- ---------- -------- --------
Total fixed charges............... $1,328,480 $1,167,934 $1,341,267 $1,641,423 $1,885,393 $446,047 $497,471
========== ========== ========== ========== ========== ======== ========
Earnings:
Income before income taxes............. $ 347,269 $ 451,358 $ 492,366 $ 398,115 $ 590,546 $142,009 $161,773
Fixed charges.......................... 1,328,480 1,167,934 1,341,267 1,641,423 1,885,393 446,047 497,471
---------- ---------- ---------- ---------- ---------- -------- --------
Total earnings..................... $1,675,749 $1,619,292 $1,833,633 $2,039,538 $2,475,939 $588,056 $659,244
========== ========== ========== ========== ========== ======== ========
Ratio of earnings to fixed charges including
interest on deposits.................... 1.26x 1.39x 1.37x 1.24x 1.31x 1.32x 1.33x
----- ----- ----- ----- ----- ----- -----
<FN>
For the purpose of computing the consolidated ratio of earnings to fixed
charges, earnings represent consolidated income before income taxes plus
fixed charges. Fixed charges excluding interest on deposits consist of
interest on long-term debt and short-term borrowings and one-third of
rental expense (which is deemed representative of the interest factor).
Fixed charges including interest on deposits consist of the foregoing
items plus interest on deposits.
</FN>
</TABLE>
