Bank of America Corporation and Subsidiaries
                                    Exhibit 12  
Ratio of Earnings to Fixed Charges
       
Ratio of Earnings to Fixed Charges and Preferred Dividends
       
    Three Months Ended     Year Ended December 31  
(Dollars in millions)   March 31, 2011     2010     2009     2008     2007     2006  
 
Excluding Interest on Deposits
                                               
 
Income before income taxes
  $ 2,780     $ (1,323 )   $ 4,360     $ 4,428     $ 20,924     $ 31,973  
Equity in undistributed earnings of unconsolidated subsidiaries
    841       1,285       (1,833 )     (144 )     (95 )     (315 )
Fixed charges:
                                               
Interest expense
    4,904       19,977       23,000       25,074       34,778       29,514  
1/3 of net rent expense (1)
    278       1,099       1,110       791       669       609  
 
Total fixed charges
    5,182       21,076       24,110       25,865       35,447       30,123  
Preferred dividend requirements (2)
    421       n/m       5,921       1,461       254       33  
 
Fixed charges and preferred dividends
    5,603       21,076       30,031       27,326       35,701       30,156  
 
Earnings
  $ 8,803     $ 21,038     $ 26,637     $ 30,149     $ 56,276     $ 61,781  
 
Ratio of earnings to fixed charges
    1.70       1.00       1.10       1.17       1.59       2.05  
 
Ratio of earnings to fixed charges and preferred dividends (2, 3)
    1.57       n/m       -       1.10       1.58       2.05  
 
                                                   
 
    Three Months Ended     Year Ended December 31  
(Dollars in millions)   March 31, 2011     2010     2009     2008     2007     2006  
 
Including Interest on Deposits
                                               
 
Income before income taxes
  $ 2,780     $ (1,323 )   $ 4,360     $ 4,428     $ 20,924     $ 31,973  
Equity in undistributed earnings of unconsolidated subsidiaries
    841       1,285       (1,833 )     (144 )     (95 )     (315 )
Fixed charges:
                                               
Interest expense
    5,743       23,974       30,807       40,324       52,871       43,994  
1/3 of net rent expense (1)
    278       1,099       1,110       791       669       609  
 
Total fixed charges
    6,021       25,073       31,917       41,115       53,540       44,603  
Preferred dividend requirements (2)
    421       n/m       5,921       1,461       254       33  
 
Fixed charges and preferred dividends
    6,442       25,073       37,838       42,576       53,794       44,636  
 
Earnings
  $ 9,642     $ 25,035     $ 34,444     $ 45,399     $ 74,369     $ 76,261  
 
Ratio of earnings to fixed charges
    1.60       1.00       1.08       1.10       1.39       1.71  
 
Ratio of earnings to fixed charges and preferred dividends (2, 3)
    1.50       n/m       -       1.07       1.38       1.71  
 
(1)   Represents an appropriate interest factor.
 
(2)   Reflects the impact of $12.4 billion of goodwill impairment charges 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