Exhibit 12.2

JPMorgan Chase & Co.

Computation of Ratio of Earnings to Fixed Charges

And Preferred Stock Dividend Requirements

Year ended December 31,
(in millions, except ratios)	2014		2013		2012		2011		2010
Excluding interest on deposits
Income from continuing operations before income taxes	$	29,792	$	25,914	$	28,917	$	26,749	$	24,859
Fixed charges:
Interest expense	6,264		7,610		8,498		9,749		9,357
One-third of rents, net of income from subleases(a)	624		616		554		562		578
Total fixed charges	6,888		8,226		9,052		10,311		9,935
Add: Equity in undistributed loss of affiliates/Less: Equity in undistributed income of affiliates	1,026		770		172		59		127
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest	$	37,706	$	34,910	$	38,141	$	37,119	$	34,921
Fixed charges, as above	$	6,888	$	8,226	$	9,052	$	10,311	$	9,935
Preferred stock dividends (pretax)	1,558		1,092		906		899		947
Fixed charges including preferred stock dividends	$	8,446	$	9,318	$	9,958	$	11,210	$	10,882
Ratio of earnings to fixed charges and preferred stock dividend requirements	4.46		3.75		3.83		3.31		3.21
Including interest on deposits
Fixed charges including preferred stock dividends, as above	$	8,446	$	9,318	$	9,958	$	11,210	$	10,882
Add: Interest on deposits	1,633		2,067		2,655		3,855		3,424
Total fixed charges including preferred stock dividends and interest on deposits	$	10,079	$	11,385	$	12,613	$	15,065	$	14,306
Income from continuing operations before income taxes and fixed charges, excluding capitalized interest, as above	$	37,706	$	34,910	$	38,141	$	37,119	$	34,921
Add: Interest on deposits	1,633		2,067		2,655		3,855		3,424
Total income from continuing operations before income taxes, fixed charges and interest on deposits	$	39,339	$	36,977	$	40,796	$	40,974	$	38,345
Ratio of earnings to fixed charges and preferred stock dividend requirements	3.90		3.25		3.23		2.72		2.68

(a) The proportion deemed representative of the interest factor.

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