EXHIBIT 12
<TABLE>
THE BANK OF NEW YORK COMPANY, INC.
Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Combined Fixed Charges,
and Distributions on Preferred Trust Securities
(Dollars in millions)
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
EARNINGS
--------
Income Before Income Taxes $ 604 $1,343 $1,756 $2,410
Fixed Charges, Excluding Interest
on Deposits 137 105 392 333
------ ------ ------ ------
Income Before Income Taxes and Fixed
Charges Excluding Interest on Deposits 741 1,448 2,148 2,743
Interest on Deposits 501 320 1,494 961
------ ------ ------ ------
Income Before Income Taxes and Fixed
Charges, Including Interest on Deposits $1,242 $1,768 $3,642 $3,704
====== ====== ====== ======
FIXED CHARGES
-------------
Interest Expense, Excluding Interest
on Deposits $ 127 $ 97 $ 364 $ 309
One-Third Net Rental Expense* 10 8 28 24
------ ------ ------ ------
Total Fixed Charges, Excluding Interest
on Deposits 137 105 392 333
Interest on Deposits 501 320 1,494 961
------ ------ ------ ------
Total Fixed Charges, Including Interest
on Deposits $ 638 $ 425 $1,886 $1,294
====== ====== ====== ======
DISTRIBUTION ON PREFERRED TRUST
SECURITIES, PRE-TAX BASIS $ 28 $ 28 $ 85 $ 84
-------------------------------
====== ====== ====== ======
EARNINGS TO FIXED CHARGES RATIOS
--------------------------------
Excluding Interest on Deposits 5.41x 13.79x 5.48x 8.24x
Including Interest on Deposits 1.95 4.16 1.93 2.86
EARNINGS TO COMBINED FIXED CHARGES,
DISTRIBUTION ON PREFERRED TRUST SECURITIES,
& PREFERRED STOCK DIVIDENDS RATIOS
-------------------------------------------
Excluding Interest on Deposits 4.49 10.89 4.50 6.58
Including Interest on Deposits 1.86 3.90 1.85 2.69
<FN>
*The proportion deemed representative of the interest factor.
</FN>
</TABLE>
