Pricing Supplement No.12       Dated  July 28, 1993     Rule 424(b)(2)
(To Prospectus dated April 27, 1993 and                  File No. 33-57104
Prospectus Supplement dated April 30, 1993)

CHEMICAL BANKING CORPORATION

[X]	Senior Medium -Term Notes, Series C  Due From Nine
	Months to Thirty Years from Date of Issue

[  ]	Subordinated Medium Term Notes , Series A Due From
	Nine Months to Thirty Years from Date of Issue

	Principal Amount: $75,000,000
	Issue Price: 100%
	Commission or Discount: 0.2% ($150,000.00)
	Proceeds to Company: 99.8% ($74,550,000.00)
	Agent: GOLDMAN SACHS

	Agent's Capacity:  [  ]     As agent    [X ]  As principal
	
	If as principal
		[X ]   The Notes are being offered at varying prices to 
		        prevailing market prices at the time of sale

		[  ]   The Notes are being offered at a fixed initial public
		        offering price equal to the Issue Price (as a 
		        percentage of Principal Amount).

	Original Issue Date:	July 28, 1993
	Stated Maturity:		July 29, 1996
	
	Form:  [X]   Book-entry	[  ]   Certificated
	Currency:   U.S. Dollars

[  ]	Fixed Rate Note:
	Interest Rate:

[X]	Floating Rate Note:   CD[   ]   Commercial Paper Rate [   ]
			     Federal Fund Effective Rate [  ]
			     LIBOR Telerate [X]  LIBOR Reuter [  ]
			     Treasury Rate [  ]     Prime Rate   [  ]

	Initial Interest Rate:  3.4625
	Interest Reset Dates:
	Interest Determination Dates: Second Business Day preceeding 
				     each Interest Reset Date

	Interest Payment Dates:   10/29/93,  01/31/94,  04/29/94,  07/29/94,
			10/31/94,  01/30/95,  04/28/95.  07/31/95,  10/30/95,
			01/29/96,  04/29/96,  07/29/96.


	Index Maturity:		3 Month
	Spread (+/-):		+.15
	Spread Multiplier:	N/A
	Maximum Interest Rate:	N/A
	Minimum Interest Rate:	N/A
	
	Optional Redemption  :   Yes[  ]       No  [  ]
	     Redemption Dates
	        and Prices: