Bank of America Corporation and Subsidiaries Exhibit 12(b) Ratio of Earnings to Fixed Charges and Preferred Dividends - ----------------------------------------------------------------------------------------------------------------------------------- Year Ended December 31 Three Months ------------------------------------------------------ Ended (Dollars in millions) March 31, 2001 2000 1999 1998 1997 1996 - ----------------------------------------------------------------------------------------------------------------------------------- Excluding Interest on Deposits Income before income taxes $2,922 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311 Less: Equity in undistributed earnings of unconsolidated subsidiaries (3) (27) (167) 162 (49) (7) Fixed charges: Interest expense (including capitalized interest) 2,889 13,806 10,084 9,479 8,219 7,082 1/3 of net rent expense 94 368 342 335 302 282 - ----------------------------------------------------------------------------------------------------------------------------------- Total fixed charges 2,983 14,174 10,426 9,814 8,521 7,364 Preferred dividend requirements 2 9 10 40 183 332 - ----------------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $5,902 $25,935 $22,474 $18,024 $19,028 $16,668 - ----------------------------------------------------------------------------------------------------------------------------------- Fixed charges and preferred dividends $2,985 $14,183 $10,436 $9,854 $8,704 $7,696 - ----------------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges and preferred dividends 1.98 1.83 2.15 1.83 2.19 2.17 - -----------------------------------------------------------------------------------------------------------------------------------

- ----------------------------------------------------------------------------------------------------------------------------------- Year Ended December 31 Three Months ------------------------------------------------------ Ended (Dollars in millions) March 31, 2001 2000 1999 1998 1997 1996 - ----------------------------------------------------------------------------------------------------------------------------------- Including Interest on Deposits Income before income taxes $2,922 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311 Less: Equity in undistributed earnings of unconsolidated subsidiaries (3) (27) (167) 162 (49) (7) Fixed charges: Interest expense (including capitalized interest) 5,602 24,816 19,086 20,290 18,903 16,682 1/3 of net rent expense 94 368 342 335 302 282 - ----------------------------------------------------------------------------------------------------------------------------------- Total fixed charges 5,696 25,184 19,428 20,625 19,205 16,964 Preferred dividend requirements 2 9 10 40 183 332 - ----------------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $8,615 $36,945 $31,476 $28,835 $29,712 $26,268 - ----------------------------------------------------------------------------------------------------------------------------------- Fixed charges and preferred dividends $5,698 $25,193 $19,438 $20,665 $19,388 $17,296 - ----------------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges and preferred dividends 1.51 1.47 1.62 1.40 1.53 1.52 - -----------------------------------------------------------------------------------------------------------------------------------