Exhibit 12
Bank of America Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges and Preferred Dividends
                                         
    Year Ended December 31  
(Dollars in millions)   2010     2009     2008     2007     2006  
 
Excluding Interest on Deposits
                                       
 
                                       
Income before income taxes
  $ (1,323 )   $ 4,360     $ 4,428     $ 20,924     $ 31,973  
Equity in undistributed earnings of unconsolidated subsidiaries
    1,285       (1,833 )     (144 )     (95 )     (315 )
Fixed charges:
                                       
Interest expense
    19,977       23,000       25,074       34,778       29,514  
1/3 of net rent expense (1)
    1,099       1,110       791       669       609  
 
Total fixed charges
    21,076       24,110       25,865       35,447       30,123  
Preferred dividend requirements (2)
    n/m       5,921       1,461       254       33  
 
Fixed charges and preferred dividends
    21,076       30,031       27,326       35,701       30,156  
 
Earnings
  $ 21,038     $ 26,637     $ 30,149     $ 56,276     $ 61,781  
 
Ratio of earnings to fixed charges
    1.00       1.10       1.17       1.59       2.05  
 
Ratio of earnings to fixed charges and preferred dividends (2, 3)
    n/m             1.10       1.58       2.05  
 
                                         
    Year Ended December 31  
(Dollars in millions)   2010     2009     2008     2007     2006  
 
Including Interest on Deposits
                                       
 
                                       
Income before income taxes
  $ (1,323 )   $ 4,360     $ 4,428     $ 20,924     $ 31,973  
Equity in undistributed earnings of unconsolidated subsidiaries
    1,285       (1,833 )     (144 )     (95 )     (315 )
Fixed charges:
                                       
Interest expense
    23,974       30,807       40,324       52,871       43,994  
1/3 of net rent expense (1)
    1,099       1,110       791       669       609  
 
Total fixed charges
    25,073       31,917       41,115       53,540       44,603  
Preferred dividend requirements (2)
    n/m       5,921       1,461       254       33  
 
Fixed charges and preferred dividends
    25,073       37,838       42,576       53,794       44,636  
 
Earnings
  $ 25,035     $ 34,444     $ 45,399     $ 74,369     $ 76,261  
 
Ratio of earnings to fixed charges
    1.00       1.08       1.10       1.39       1.71  
 
Ratio of earnings to fixed charges and preferred dividends (2, 3)
    n/m             1.07       1.38       1.71  
 
(1)    Represents an appropriate interest factor.
 
(2)    Reflects the impact of the $12.4 billion goodwill impairment charge during 2010 which resulted in a negative preferred dividend requirement.
 
(3)    The earnings for 2009 were inadequate to cover fixed charges and preferred stock dividends. The earnings deficiency is a result of the accelerated accretion of $4.0 billion recorded as a result of the repurchase of TARP Preferred Stock. The coverage deficiency for fixed charges and preferred dividends was $3.4 billion.
 
n/m = not meaningful