<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Condensed Consolidated Statements of Financial Condition at May 31, 1998 and
the Condensed Consolidated Statements of Income for the Six Months Ended May
31, 1998 and is qualified in its entirety by reference to such condensed
consolidated financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1998
<PERIOD-START>                             DEC-01-1997
<PERIOD-END>                               MAY-31-1998
<CASH>                                          17,078
<RECEIVABLES>                                   69,220
<SECURITIES-RESALE>                             93,431
<SECURITIES-BORROWED>                           88,414
<INSTRUMENTS-OWNED>                            103,277
<PP&E>                                           1,760
<TOTAL-ASSETS>                                 380,665
<SHORT-TERM>                                    37,292
<PAYABLES>                                      74,307
<REPOS-SOLD>                                   114,628
<SECURITIES-LOANED>                             24,032
<INSTRUMENTS-SOLD>                              78,030
<LONG-TERM>                                     28,354
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        875
<COMMON>                                             6
<OTHER-SE>                                      12,944
<TOTAL-LIABILITY-AND-EQUITY>                   380,665
<TRADING-REVENUE>                                1,994
<INTEREST-DIVIDENDS>                             8,146
<COMMISSIONS>                                    1,158
<INVESTMENT-BANKING-REVENUES>                    1,788
<FEE-REVENUE>                                    2,652
<INTEREST-EXPENSE>                               6,699
<COMPENSATION>                                   3,805
<INCOME-PRETAX>                                  2,533
<INCOME-PRE-EXTRAORDINARY>                       2,533
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,545
<EPS-PRIMARY>                                     2.60
<EPS-DILUTED>                                     2.47