<ARTICLE> 9
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                          67,608
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  5,474,387
<INVESTMENTS-CARRYING>                         690,753
<INVESTMENTS-MARKET>                           690,845
<LOANS>                                     30,253,679
<ALLOWANCE>                                     86,889
<TOTAL-ASSETS>                              38,400,786
<DEPOSITS>                                           0
<SHORT-TERM>                                23,296,958
<LIABILITIES-OTHER>                          1,469,285
<LONG-TERM>                                 13,013,111
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        36,785
<OTHER-SE>                                     584,647
<TOTAL-LIABILITIES-AND-EQUITY>              38,400,786
<INTEREST-LOAN>                                604,114
<INTEREST-INVEST>                              103,313
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                               707,427
<INTEREST-DEPOSIT>                                   0
<INTEREST-EXPENSE>                             541,350
<INTEREST-INCOME-NET>                          166,077
<LOAN-LOSSES>                                    4,931
<SECURITIES-GAINS>                               5,381
<EXPENSE-OTHER>                                 90,862
<INCOME-PRETAX>                                208,604
<INCOME-PRE-EXTRAORDINARY>                     139,008
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   139,008
<EPS-PRIMARY>                                     0.81<F1>
<EPS-DILUTED>                                     0.80
<YIELD-ACTUAL>                                    1.83
<LOANS-NON>                                          0
<LOANS-PAST>                                   800,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                87,660
<CHARGE-OFFS>                                    6,636
<RECOVERIES>                                       934
<ALLOWANCE-CLOSE>                               86,899 
<ALLOWANCE-DOMESTIC>                            86,899 
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
<FN>
<F1>primary EPS represents Basic EPS caculated under FAS 128.
</FN>