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 Six Months Ended
June 30, June 30,
2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
EARNINGS
--------
Income Before Income Taxes $ 590 $ 539 $1,152 $1,067
Fixed Charges, Excluding Interest
on Deposits 132 107 256 228
------ ------ ------ ------
Income Before Income Taxes and Fixed
Charges Excluding Interest on Deposits 722 646 1,408 1,295
Interest on Deposits 521 324 992 641
------ ------ ------ ------
Income Before Income Taxes and Fixed
Charges, Including Interest on Deposits $1,243 $ 970 $2,400 $1,936
====== ====== ====== ======
FIXED CHARGES
-------------
Interest Expense, Excluding Interest
on Deposits $ 123 $ 99 $ 237 $ 212
One-Third Net Rental Expense* 9 8 19 16
------ ------ ------ ------
Total Fixed Charges, Excluding Interest
on Deposits 132 107 256 228
Interest on Deposits 521 324 992 641
------ ------ ------ ------
Total Fixed Charges, Including Interest
on Deposits $ 653 $ 431 $1,248 $ 869
====== ====== ====== ======
DISTRIBUTION ON PREFERRED TRUST
SECURITIES, PRE-TAX BASIS $ 28 $ 28 $ 57 $ 56
-------------------------------
====== ====== ====== ======
EARNINGS TO FIXED CHARGES RATIOS
--------------------------------
Excluding Interest on Deposits 5.47x 6.04x 5.50x 5.68x
Including Interest on Deposits 1.90 2.25 1.92 2.23
EARNINGS TO COMBINED FIXED CHARGES,
DISTRIBUTION ON PREFERRED TRUST SECURITIES,
& PREFERRED STOCK DIVIDENDS RATIOS
-------------------------------------------
Excluding Interest on Deposits 4.51 4.79 4.50 4.56
Including Interest on Deposits 1.83 2.11 1.84 2.09
<FN>
*The proportion deemed representative of the interest factor.
</FN>
</TABLE>
