<ARTICLE>  BD
<LEGEND>
These schedules contain summary restated financial information derived from 
Holdings' Consolidated  Statements of Financial  Condition at, and Consolidated
Statements of Income for the respective periods ended, November 30, 1997, August
31, 1997 (Unaudited), May 31, 1997 (Unaudited) and February 28, 1997 (Unaudited)
and are qualified in their entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<RESTATED>
       
                                                         
<PERIOD-TYPE>                   YEAR         9-MOS        6-MOS        3-MOS
<FISCAL-YEAR-END>             NOV-30-1997  NOV-30-1997  NOV-30-1997  NOV-30-1997
<PERIOD-START>                DEC-01-1996  DEC-01-1996  DEC-01-1996  DEC-01-1996
<PERIOD-END>                  NOV-30-1997  AUG-31-1997  MAY-31-1997  FEB-28-1997
<CASH>                              2,834        2,227        3,468        3,547
<RECEIVABLES>                      12,838       13,020        9,778       11,879
<SECURITIES-RESALE>                43,606       43,268       40,093       35,019
<SECURITIES-BORROWED>              14,146       16,282       22,085       27,695
<INSTRUMENTS-OWNED>                76,862       71,683       68,309       69,922
<PP&E>                                468          468          467          468
<TOTAL-ASSETS>                    151,705      147,894      145,118      149,493
<SHORT-TERM>                        7,818        8,606       11,089        8,177
<PAYABLES>                         13,857       13,598        9,978        9,409
<REPOS-SOLD>                       63,204       57,802       57,179       67,221
<SECURITIES-LOANED>                 7,846        8,734        6,904        9,279
<INSTRUMENTS-SOLD>                 30,080       32,312       34,291       31,151
<LONG-TERM>                        20,261       18,904       17,945       17,296
<PREFERRED-MANDATORY>                   0            0            0            0
<PREFERRED>                           508          508          508          508
<COMMON>                               12           11           11           11
<OTHER-SE>                          4,003        3,784        3,619        3,493
<TOTAL-LIABILITY-AND-EQUITY>      151,705      147,894      145,118      149,493
<TRADING-REVENUE>                   1,418        1,061          672          346
<INTEREST-DIVIDENDS>               13,635        9,931        6,377        3,278
<COMMISSIONS>                         423          299          188           97
<INVESTMENT-BANKING-REVENUES>       1,318          910          514          240
<FEE-REVENUE>                           0            0            0            0
<INTEREST-EXPENSE>                 13,010        9,424        6,026        3,074
<COMPENSATION>                      1,964        1,445          902          469
<INCOME-PRETAX>                       937          672          391          219
<INCOME-PRE-EXTRAORDINARY>            647          462          265          144
<EXTRAORDINARY>                         0            0            0            0
<CHANGES>                               0            0            0            0
<NET-INCOME>                          647          462          265          144
<EPS-PRIMARY>                        4.84         3.49         2.15         1.18
<EPS-DILUTED>                        4.72         3.41         2.11         1.16