<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE CURRENT REPORT ON FORM 10-Q FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS AND
ACCOMPANYING DISCLOSURES.
</LEGEND>
<MULTIPLIER> 1,000,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<EXCHANGE-RATE>                                      1
<CASH>                                           1,522
<INT-BEARING-DEPOSITS>                           2,804
<FED-FUNDS-SOLD>                                36,537<F1>
<TRADING-ASSETS>                               123,475
<INVESTMENTS-HELD-FOR-SALE>                     24,190
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                         31,029
<ALLOWANCE>                                        392
<TOTAL-ASSETS>                                 280,777
<DEPOSITS>                                      57,026
<SHORT-TERM>                                    99,417<F2>
<LIABILITIES-OTHER>                             86,638<F3>
<LONG-TERM>                                     25,980
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        694
<COMMON>                                           502
<OTHER-SE>                                      10,520
<TOTAL-LIABILITIES-AND-EQUITY>                 280,777
<INTEREST-LOAN>                                  1,090
<INTEREST-INVEST>                                  706
<INTEREST-OTHER>                                 4,572
<INTEREST-TOTAL>                                 6,368
<INTEREST-DEPOSIT>                               1,493
<INTEREST-EXPENSE>                               5,742
<INTEREST-INCOME-NET>                              626
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                 111<F4>
<EXPENSE-OTHER>                                  3,048<F5>
<INCOME-PRETAX>                                  1,102
<INCOME-PRE-EXTRAORDINARY>                         718
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       718
<EPS-PRIMARY>                                     3.82<F6>
<EPS-DILUTED>                                     3.51<F6>
<YIELD-ACTUAL>                                     .63
<LOANS-NON>                                        588<F7>
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 1,081<F8>
<CHARGE-OFFS>                                      192<F8>
<RECOVERIES>                                        15<F8>
<ALLOWANCE-CLOSE>                                  904<F8>
<ALLOWANCE-DOMESTIC>                                25<F8>
<ALLOWANCE-FOREIGN>                                238<F8>
<ALLOWANCE-UNALLOCATED>                            641<F8>
<FN>
<F1>INCLUDES SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL 
<F2>INCLUDES SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND FEDERAL FUNDS
PURCHASED, COMMERCIAL PAPER, AND OTHER LIABILITIES FOR BORROWED MONEY.
<F3>INCLUDES TRADING ACCOUNT LIABILITIES, ACCOUNTS PAYABLE AND ACCURED EXPENSES,
OTHER LIABILITIES, AND COMPANY-OBLIGATED MANDATORILY REDEEMABLE PREFERRED
SECURITIES OF SUBSIDIARIES.
<F4>INCLUDES GAINS AND LOSSES ON DEBT AND EQUITY INVESTMENT SECURITIES,
OTHER-THAN-TEMPORARY IMPAIRMENTS OR WRITE-DOWNS IN VALUE, AND RELATED DIVIDEND
INCOME.
<F5>INCLUDES EMPLOYEE COMPENSATION AND BENEFITS, NET OCCUPANCY, TECHNOLOGY AND
COMMUNICATIONS, AND OTHER EXPENSES.
<F6>PRIMARY EPS REPRESENTS BASIC EPS UNDER STATEMENT OF FINANCIAL ACCOUNTING
STANDARDS NO. 128, EARNINGS PER SHARE.
<F7>INCLUDES NONPERFORMING LOANS AND OTHER NONPERFORMING ASSETS.
<F8>AMOUNTS RELATE TO THE FIRM'S AGGREGATE ALLOWANCE FOR CREDIT LOSSES.
</FN>