Exhibit 12

Statement Regarding Computation of Ratios

The ratios of income to fixed charges have been computed on the basis of the total enterprise (as defined by the Commission) by dividing income from continuing operations before fixed charges and income taxes by fixed charges. Fixed charges consist of interest expense on all long-term and short-term borrowings, excluding or including interest on deposits as indicated below. The computations of other ratios are evident from the information presented in this Form 10-K and the Corporation’s 2003 Annual Report.

Bank One Corporation and Subsidiaries
Computations of Consolidated Ratios of Earnings to Fixed Charges


				Year		Year		Year			Year			Year
				Ended		Ended		Ended			Ended			Ended
(In millions, except ratios)				2003		2002		2001			2000(1)			1999
EXCLUDING INTEREST ON DEPOSITS
		Pretax income from continuing operations		$	4,390	$	4,702	$	3,748		$	(1,119	)	$	4,932
		Earnings from unconsolidated entities under the equity method of accounting			140		91		(80	)		(129	)		(47	)
		Fixed charges, excluding capitalized interest			2,585		2,720		3,867			5,198			3,719

			Adjusted pretax earnings base		7,115		7,513		7,535			3,950			8,604

		Interest, excluding interest on deposits			2,481		2,621		3,771			5,105			3,622
		Rental factor			104		99		96			93			97
		Capitalized interest			2		1		4			9			2

			Fixed charges		2,587		2,721		3,871			5,207			3,721

Consolidated ratios of earnings to fixed charges, excluding interest on deposits					2.8x		2.8x		1.9x			0.8x			2.3x

INCLUDING INTEREST ON DEPOSITS
		Pretax income from continuing operations		$	4,390	$	4,702	$	3,748		$	(1,119	)	$	4,932
		Earnings from unconsolidated entities under the equity method of accounting			140		91		(80	)		(129	)		(47	)
		Fixed charges, excluding capitalized interest			4,616		5,431		8,748			11,322			8,357

			Adjusted pretax earnings base		9,146		10,224		12,416			10,074			13,242

		Interest, including interest on deposits			4,512		5,332		8,652			11,229			8,260
		Rental factor			104		99		96			93			97
		Capitalized interest			2		1		4			9			2

			Fixed charges		4,618		5,432		8,752			11,331			8,359

	Consolidated ratios of earnings to fixed charges, including interest on deposits				2.0x		1.9x		1.4x			0.9x			1.6x



(1) Results for the year ended December 31, 2000 were insufficient to cover fixed charges. The coverage deficiency was approximately $1.3 billion.

BANK ONE CORP 10-K