<ARTICLE>  BD
<LEGEND>
This schedule contains summary restated financial information derived from 
Holdings' Consolidated  Statements of Financial  Condition at, and Consolidated
Statements of Income for, the year ended November 30, 1995 and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<RESTATED>
       
                           
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>             NOV-30-1995
<PERIOD-START>                DEC-01-1994
<PERIOD-END>                  NOV-30-1995
<CASH>                              1,819
<RECEIVABLES>                       8,170
<SECURITIES-RESALE>                36,234
<SECURITIES-BORROWED>              16,290
<INSTRUMENTS-OWNED>                51,322
<PP&E>                                495
<TOTAL-ASSETS>                    115,303
<SHORT-TERM>                        6,235
<PAYABLES>                          8,824
<REPOS-SOLD>                       59,035
<SECURITIES-LOANED>                 1,966
<INSTRUMENTS-SOLD>                 19,854
<LONG-TERM>                        12,765
<PREFERRED-MANDATORY>                   0
<PREFERRED>                           708
<COMMON>                               11
<OTHER-SE>                          2,979
<TOTAL-LIABILITY-AND-EQUITY>      115,303
<TRADING-REVENUE>                   1,393
<INTEREST-DIVIDENDS>               10,788
<COMMISSIONS>                         450
<INVESTMENT-BANKING-REVENUES>         801
<FEE-REVENUE>                           0
<INTEREST-EXPENSE>                 10,405
<COMPENSATION>                      1,544
<INCOME-PRETAX>                       369
<INCOME-PRE-EXTRAORDINARY>            242
<EXTRAORDINARY>                         0
<CHANGES>                               0
<NET-INCOME>                          242
<EPS-PRIMARY>                        1.76
<EPS-DILUTED>                        1.76