<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, 1996, August
31, 1996 (Unaudited), May 31, 1996 (Unaudited) and February 29, 1996 (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-30-1996  NOV-30-1996  NOV-30-1996  NOV-30-1996
<PERIOD-START>                DEC-01-1995  DEC-01-1995  DEC-01-1995  DEC-01-1995
<PERIOD-END>                  NOV-30-1996  AUG-31-1996  MAY-31-1996  FEB-29-1996
<CASH>                              2,837        2,350        2,094        2,213
<RECEIVABLES>                       9,944       10,457       11,756       10,107
<SECURITIES-RESALE>                32,340       35,450       43,861       44,094
<SECURITIES-BORROWED>              20,651       24,350       19,295       12,159
<INSTRUMENTS-OWNED>                61,453       51,627       55,284       58,687
<PP&E>                                477          473          473          478
<TOTAL-ASSETS>                    128,596      125,666      133,725      128,702
<SHORT-TERM>                        8,202        7,130        8,004        6,996
<PAYABLES>                          8,586       11,412       10,547        9,442
<REPOS-SOLD>                       56,119       57,415       65,332       65,627
<SECURITIES-LOANED>                 6,296        6,682        4,250        3,872
<INSTRUMENTS-SOLD>                 26,364       22,101       25,712       23,485
<LONG-TERM>                        15,922       14,214       13,569       13,471
<PREFERRED-MANDATORY>                   0            0            0            0
<PREFERRED>                           508          508          508          508
<COMMON>                               11           11           11           11
<OTHER-SE>                          3,355        3,222        3,047        3,004
<TOTAL-LIABILITY-AND-EQUITY>      128,596      125,666      133,725      128,702
<TRADING-REVENUE>                   1,579        1,114          811          413
<INTEREST-DIVIDENDS>               11,298        8,369        5,405        2,656
<COMMISSIONS>                         362          267          190           96
<INVESTMENT-BANKING-REVENUES>         981          671          433          211
<FEE-REVENUE>                           0            0            0            0
<INTEREST-EXPENSE>                 10,816        8,072        5,208        2,565
<COMPENSATION>                      1,747        1,205          839          416
<INCOME-PRETAX>                       637          442          327          159
<INCOME-PRE-EXTRAORDINARY>            416          289          212          104
<EXTRAORDINARY>                         0            0            0            0
<CHANGES>                               0            0            0            0
<NET-INCOME>                          416          289          212          104
<EPS-PRIMARY>                        3.27         2.30         1.70         0.80
<EPS-DILUTED>                        3.24         2.27         1.68         0.79