<ARTICLE> BD
<LEGEND>
This schedule contains summary financial information extracted from the
Condensed Consolidated Statements of Financial Condition at February 28, 1999
and the Condensed Consolidated Statements of Income for the Three Months Ended
February 28, 1999 and is qualified in its entirety by reference to such
Condensed consolidated financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-START>                             DEC-01-1998
<PERIOD-END>                               FEB-28-1999
<CASH>                                          20,720
<RECEIVABLES>                                   50,462
<SECURITIES-RESALE>                             74,363
<SECURITIES-BORROWED>                           71,185
<INSTRUMENTS-OWNED>                             95,181
<PP&E>                                           2,121
<TOTAL-ASSETS>                                 321,778
<SHORT-TERM>                                    28,474
<PAYABLES>                                      53,158
<REPOS-SOLD>                                   108,248
<SECURITIES-LOANED>                             21,736
<INSTRUMENTS-SOLD>                              58,974
<LONG-TERM>                                     27,298
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        673
<COMMON>                                             6
<OTHER-SE>                                      14,158
<TOTAL-LIABILITY-AND-EQUITY>                   321,778
<TRADING-REVENUE>                                1,691
<INTEREST-DIVIDENDS>                             3,480
<COMMISSIONS>                                      665
<INVESTMENT-BANKING-REVENUES>                      957
<FEE-REVENUE>                                    1,308
<INTEREST-EXPENSE>                               2,877
<COMPENSATION>                                   2,363
<INCOME-PRETAX>                                  1,672
<INCOME-PRE-EXTRAORDINARY>                       1,672
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,037
<EPS-PRIMARY>                                     1.85
<EPS-DILUTED>                                     1.76