EXHIBIT 12

MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in millions)


	Successor Company										Predecessor Company
	Three Months Ended			Six Months Ended
	June 30,			June 30,			Year Ended		Year Ended		Year Ended			Year Ended
	2011			2011			December 31,		December 31,		December 26,			December 28,
	(unaudited)			(unaudited)			2010		2009		2008			2007
Pre-tax earnings (loss)(a)	$	(2,971	)	$	(2,714	)	$	2,708	$	6,455	$	(45,438	)	$	(13,723	)
Add: Fixed charges (excluding capitalized interest and preferred security dividend requirements of subsidiaries)		2,468			4,904			9,935		12,341		29,641			51,683

Pre-tax earnings / (loss) before fixed charges		(503	)		2,190			12,643		18,796		(15,797	)		37,960

Fixed charges:
Interest		2,390			4,743			9,621		12,040		29,349			51,425
Other(b)		78			161			314		301		292			258

Total fixed charges		2,468			4,904			9,935		12,341		29,641			51,683

Preferred stock dividend requirements		-			-			140		141		4,356			401

Total combined fixed charges and preferred stock dividends	$	2,468		$	4,904		$	10,075	$	12,482	$	33,997		$	52,084

Ratio of earnings to fixed charges			*			*		1.27		1.52			*			*
Ratio of earnings to combined fixed charges and preferred stock dividends			*			*		1.25		1.51			*			*

On January 1, 2009, Merrill Lynch (the “Predecessor Company”) was acquired by Bank of America through the merger of a wholly-owned subsidiary of Bank of America with and into ML & Co. with ML & Co. (the “Successor Company”) continuing as the surviving corporation and a wholly-owned subsidiary of Bank of America. The Predecessor Company and Successor Company periods have been separated by a vertical line above to highlight the fact that the financial information for such periods has been prepared under two different cost bases of accounting.


(a)		Excludes undistributed earnings (loss) from equity investments and earnings from discontinued operations.
(b)		Other fixed charges consist of the interest factor in rentals, amortization of debt issuance costs and preferred security dividend requirements of subsidiaries.
*		The earnings for the three and six months ended June 30, 2011 and for the years ended 2008 and 2007 were inadequate to cover total fixed charges and total fixed charges and preferred stock dividends. The coverage deficiencies for total fixed charges for the three and six months ended June 30, 2011 and for the years ended 2008 and 2007 were $2,971 million, $2,714 million, $45,438 million and $13,723 million, respectively.
		The coverage deficiencies for total fixed charges and preferred stock dividends for the three and six months ended June 30, 2011 and years ended 2008 and 2007 were $2,971 million, $2,714 million, $49,794 million and $14,124 million, respectively.

MERRILL LYNCH & CO., INC. 10-Q