**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**Form      10-Q**

| x | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 FOR THE QUARTERLY PERIOD ENDED MARCH                31, 2006OR       |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| o | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 FOR THE TRANSITION PERIOD FROM __________TO                ________ |

**Commission      file number **
**1-14103**

**(Exact      name of registrant as specified in its charter)**

| Maryland                                                              | 52-2063921                             |
|-----------------------------------------------------------------------|----------------------------------------|
| **(State                or other jurisdiction of**                    | **(I.R.S.                Employer**    |
| **incorporation                or organization)**                     | **Identification                No.)** |
|                                                                  |                                   |
| 65                East 55th                Street, New York, New York | 10022                                  |
| **(Address                of principal executive offices)**      | **(Zip                Code)**          |

**(Registrant’s      telephone number, including area code)**

**(N/A)**

**(Former      name, former address and former fiscal year, if changed since last      report)**

|   | **Class**                                | **Outstanding                at****May                5, 2006** |
|--------|------------------------------------------|-----------------------------------------------------------------|
|   | Common                Stock              |                                                            |
|   | par                value $0.01 per share | 100                                                             |

----

| Part                  I. FINANCIAL INFORMATION: | Page                                                                                                                                  |
|-------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  1(a). Financial Statements                                                                                      |   |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Balance                  Sheets -                                                                                                     |   |   |
|                                            |     As                  of March 31, 2006 and December 31, 2005                                                   | 1 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Statements                  of Income -                                                                                               |   |   |
|                                            |     For                  the three-month periods ended March 31, 2006 and 2005                                    | 2 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Statements                  of Stockholders’ Equity -                                                                           |   |   |
|                                            |     For                  the three-month periods ended March 31, 2006 and 2005                                    | 3 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Statements                  of Cash Flows -                                                                                           |   |   |
|                                            |     For                  the three-month periods ended March 31, 2006 and 2005                                    | 4 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Notes                  to the financial statements                                                                                    | 5 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  1(b). National Bank of Canada Summarized Financial                  Statements                                  | 8 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  2. Management’s Discussion and Analysis of Financial Condition and Results                  of Operations | 9 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  3. Quantitative and Qualitative Disclosures About Market                  Risk                                  | 11 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  4. Controls and Procedures                                                                                      | 11 |   |
|                                            |                                                                                                                                  |   |   |
| Part                  II. OTHER INFORMATION :   |                                                                                                                                  |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  1. Legal Proceedings                                                                                            | 12 |   |
|                                            |                                                                                                                                  |   |   |
|                                            | Item                  6. Exhibits                                                                                                     | 12 |   |

----

----

**ITEM        1(a). FINANCIAL STATEMENTS**

***NB          CAPITAL CORPORATION***

***BALANCE          SHEETS***

| ***(                    in thousand of US dollars )***          |   | **March                            31,2006****(unaudited)** |        | **December                            31,2005** |   |
|-----------------------------------------------------------------|--------|-------------------------------------------------------------|-------------|-------------------------------------------------|--------|
| **Assets**                                                      |   |                                                        | $           |                                            |   | $ |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| **Current                    Assets**                           |   |                                                        |        |                                            |   |   |   |
| Cash                    and cash equivalents                    |   |                                                        | 12,191      |                                            |   | 59,901 |   |
| Due                    from an affiliated company               |   |                                                        | 9,716       |                                            |   | 9,680 |   |
| Promissory                    notes - current portion           |   |                                                        | 140,770     |                                            |   | 79,840 |   |
| Prepaid                    expenses                             |   |                                                        | 33          |                                            |   | 32 |   |
| Accrued                    interest on cash equivalents         |   |                                                        | 3           |                                            |   | 19 |   |
|                                                            |   |                                                        | 162,713     |                                            |   | 149,472 |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| **Promissory                    notes**                         |   |                                                        | 318,701     |                                            |   | 330,139 |   |
|                                                            |   |                                                        | **481,414** |                                            |   | **479,611** |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| **Liabilities**                                                 |   |                                                        |        |                                            |   |   |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| **Current                    Liabilities**                      |   |                                                        |        |                                            |   |   |   |
| Due                    to the parent company                    |   |                                                        | 421         |                                            |   | 402 |   |
| Accounts                    payable                             |   |                                                        | 59          |                                            |   | 117 |   |
|                                                            |   |                                                        | 480    |                                            |   | 519  |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| **Stockholders'                    equity**                     |   |                                                        |        |                                            |   |   |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| Capital                    stock and Additional paid-in capital |   |                                                        | 476,764     |                                            |   | 476,764 |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
| Retained                    earnings                            |   |                                                        | 4,170       |                                            |   | 2,328 |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
|                                                            |   |                                                        | 480,934     |                                            |   | 479,092 |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
|                                                            |   |                                                        |        |                                            |   |   |   |
|                                                            |   |                                                        | **481,414** |                                            |   | **479,611** |   |

----

***NB            CAPITAL CORPORATION***

***STATEMENTS              OF INCOME***

***(Unaudited)***

|                                                                                                            |       | **Three-month                          periods ended March 31,   ** |      |
|-----------------------------------------------------------------------------------------------------------------|------------|------------------------------------------------------------------------------------|-----------|
| ***(                          in thousand of US dollars, except per share amounts                          )*** | ** ** | ** **                                                                         | **2006**  |   |   | **2005** |   |
|                                                                                                            |       |                                                                               | $         |   |   | $ |   |
| **Revenue**                                                                                                     |       |                                                                               |      |   |   |   |   |
| *Interest                          income*                                                                      |       |                                                                               |      |   |   |   |   |
| Cash                          and cash equivalents                                                              |       |                                                                               | 438       |   |   | 226 |   |
| Promissory                          notes                                                                       |       |                                                                               | 8,144     |   |   | 8,662 |   |
|                                                                                                            |       |                                                                               | **8,582** | ** ** | ** ** | **8,888** |   |
|                                                                                                            |       |                                                                               |      |   |   |   |   |
| **Expenses**                                                                                                    |       |                                                                               |      |   |   |   |   |
| Servicing                          and advisory fees                                                            |       |                                                                               | 421       |   |   | 413 |   |
| Legal                          and other professional fees                                                      |       |                                                                               | 49        |   |   | 75 |   |
|                                                                                                            |       |                                                                               | **470**   |   |   | **488** |   |
|                                                                                                            |       |                                                                               |      |   |   |   |   |
| **Net                          income**                                                                         |       |                                                                               | **8,112** |   |   | **8,400** |   |
|                                                                                                            |       |                                                                               |      |   |   |   |   |
| Preferred                          stock dividends                                                              |       |                                                                               | 6,270     |   |   | 6,268 |   |
|                                                                                                            |       |                                                                               |      |   |   |   |   |
| **Income                          available to common stockholders**                                            |       |                                                                               | **1,842** |   |   | **2,132** |   |
|                                                                                                            |       |                                                                               |      |   |   |   |   |
| Weighted-average                          number of common shares outstanding                                   |       |                                                                               | 100       |   |   | 100 |   |
|                                                                                                            |       |                                                                               |      |   |   |   |   |
| **Earnings                          per common share - basic and diluted**                                      |       |                                                                               | **18**    |   |   | **21** |   |

----

***NB            CAPITAL CORPORATION***

***STATEMENTS              OF STOCKHOLDERS' EQUITY***

***(Unaudited)***

|                                                                |       | **Three-month                            periods ended****March                              31,  ** |
|---------------------------------------------------------------------|------------|----------------------------------------------------------------------------------------------------------------|
| ***(                            in thousands of US dollars )***     | ** ** | ** **                                                                                                     | **2006** |   |   | **2005** |   |
| **PREFERRED                            STOCK**                      |       |                                                                                                           | $ |   |   | $ |   |
| **Balance,                            beginning and end of period** |       |                                                                                                           | 3 |   |   | 3 |   |
|                                                                |       |                                                                                                           |   |   |   |   |   |
|                                                                |       |                                                                                                           |   |   |   |   |   |
| **COMMON                            STOCK AND PAID-IN CAPITAL**     |       |                                                                                                           |   |   |   |   |   |
| **Balance,                            beginning and end of period** |       |                                                                                                           | 476,761 |   |   | 476,761 |   |
|                                                                |       |                                                                                                           |   |   |   |   |   |
| **RETAINED                            EARNINGS**                    |       |                                                                                                           |   |   |   |   |   |
| Balance,                            beginning of period             |       |                                                                                                           | 2,328 |   |   | 555 |   |
| Net                            income                               |       |                                                                                                           | 8,112 |   |   | 8,400 |   |
| Preferred                            stock dividends                |       |                                                                                                           | (6,270 | ) |   | (6,268 | ) |
| **Balance,                            end of period**               |       |                                                                                                           | **4,170** |   |   | **2,687** |   |
|                                                                |       |                                                                                                           |   |   |   |   |   |
| **TOTAL                            STOCKHOLDERS' EQUITY**           |       |                                                                                                           | **480,934** |   |   | **479,451** |   |

----

***NB            CAPITAL CORPORATION***

***STATEMENTS              OF CASH FLOWS***

***(Unaudited)***

|                                                                       |       | **Three-month                            periods ended****March                              31,** |
|----------------------------------------------------------------------------|------------|----------------------------------------------------------------------------------------------------|
| ***(in                            thousand of US dollars)***               | ** ** | ** **                                                                                         | **2006** |   |   | **2005** |   |
| **OPERATING                            ACTIVITIES**                        |       |                                                                                               |   |   |   |   |   |
|                                                                       |       |                                                                                               | $ |   |   | $ |   |
| Net                            income                                      |       |                                                                                               | 8,112 |   |   | 8,400 |   |
| Item                            not affecting cash resources :             |       |                                                                                               |   |   |   |   |   |
| Prepaid                            expenses                                |       |                                                                                               | (1 | ) |   | (1 | ) |
| Due                            from an affiliated company                  |       |                                                                                               | (36 | ) |   | 598 |   |
| Due                            to the parent company                       |       |                                                                                               | 19 |   |   | (1 | ) |
| Accounts                            payable                                |       |                                                                                               | (58 | ) |   | 8 |   |
| Accrued                            interest receivable on cash equivalents |       |                                                                                               | 16 |   |   | 25 |   |
|                                                                       |       |                                                                                               |   |   |   |   |   |
| Net                            cash provided by operating activities       |       |                                                                                               | **8,052** |   |   | **9,029** |   |
|                                                                       |       |                                                                                               |   |   |   |   |   |
| **FINANCING                            ACTIVITIES**                        |       |                                                                                               |   |   |   |   |   |
|                                                                       |       |                                                                                               |   |   |   |   |   |
| Dividends                                                                  |       |                                                                                               | (6,270 | ) |   | (6,268 | ) |
| Net                            cash used in financing activities           |       |                                                                                               | **(6,270** | **)** |   | **(6,268** | **)** |
|                                                                       |       |                                                                                               |   |   |   |   |   |
| **INVESTING                            ACTIVITIES**                        |       |                                                                                               |   |   |   |   |   |
|                                                                       |       |                                                                                               |   |   |   |   |   |
| Investment                            in promissory notes                  |       |                                                                                               | (82,898 | ) |   | (73,038 | ) |
| Repayments                            of promissory notes                  |       |                                                                                               | 33,406 |   |   | 29,349 |   |
| Net                            cash used in investing activities           |       |                                                                                               | **(49,492** | **)** |   | **(43,689** | **)** |
|                                                                       |       |                                                                                               |   |   |   |   |   |
| Cash                            and cash equivalents, beginning of period  |       |                                                                                               | 59,901 |   |   | 58,327 |   |
| **Cash                            and cash equivalents, end of period**    |       |                                                                                               | **12,191** |   |   | **17,399** |   |

----

***NB      CAPITAL CORPORATION***

***NOTES      TO THE FINANCIAL STATEMENTS***

*March      31, 2006*

*(in      thousands of U.S. dollars)*

**1)      Incorporation and nature of operations**

**2)      Significant accounting policies**

***Financial      statements***

***Promissory      notes***

***Income      taxes***

*Internal      Revenue Code of 1986*

***Per      share data***

***Estimates***

----

***NB      CAPITAL CORPORATION***

***NOTES      TO THE FINANCIAL STATEMENTS***

*March      31, 2006*

*(in      thousands of U.S. dollars)*
*** ***

**2)      Significant accounting policies (continued)**

***Interest      on Promissory notes and cash equivalent***

**3)      Promissory notes**

| Promissory                notes as of December                31, 2005 |   | $      | 409,979 |   |
|------------------------------------------------------------------------|--------|--------|---------|--------|
| Acquisitions                                                           |   |   | 82,898  |   |
| Principal                repayments                                    |   |   | (33,406 | )      |
| Promissory                notes as of March                31, 2006    |   | $      | 459,471 |   |

| 2006 |   | $ | 91,449  |   |   | 2012   |   | $      | 35,430 |   |
|------|--------|---|---------|--------|--------|--------|--------|--------|--------|--------|
| 2007 |   | $ | 157,417 |   |   | 2013   |   | $      | 7,884  |   |
| 2008 |   | $ | 23,575  |   |   | 2014   |   | $      | 4,037  |   |
| 2009 |   | $ | 32,620  |   |   | 2015   |   | $      | 8,589  |   |
| 2010 |   | $ | 37,291  |   |   |   |   |   |   |   |
| 2011 |   | $ | 61,179  |   |   |   |   |   |   |   |

**4)      Transactions with an affiliated company**

**5)      Transactions with the parent company**

***Advisory      agreement***

----

***NB      CAPITAL CORPORATION***

***NOTES      TO THE FINANCIAL STATEMENTS***

*March      31, 2006*

*(in      thousands of U.S. dollars)*

**5)      Transactions with the parent company (continued)**

***Servicing      agreement***

***Custodial      agreement***

***Interest      on cash and cash equivalents***

**6)      Stockholders' equity **

*(in      U.S. Dollars)*

***Common      stock***

| ·                    | 100                shares have been authorized and issued to the                Bank. |
|----------------------------------------------------|---------------------------------------------------------------------------------------|

***Preferred      stock***

| ·                    | 300,000                shares of preferred stock have been authorized and issued as 8.35%                Non-cumulative Exchangeable Preferred Stock, Series A (“Series A Preferred                Shares”), non-voting, ranked senior to the common stock and junior to the                Adjustable Rate Cumulative Senior Preferred Shares, with a liquidation                value of $1,000 per share, redeemable at the Company's option on                or after                September 3, 2007, except upon the occurrence of certain changes                in tax                laws in the United States or in Canada, on or after September 3,                2002.                These Series A Preferred Shares are traded on the New York Stock                Exchange                in the form of Depository Shares, each Depository Share representing                a                one-fortieth interest therein. |
|----------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                    | Each                Series A Preferred Share is exchangeable, upon the occurrence of                certain                events, for one newly issued 8.45% Non-cumulative First Preferred                Share,                Series Z, of the Bank. |
|----------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                    | 1,000                shares of preferred stock have been authorized (110 issued) as Adjustable                Rate Cumulative Senior Preferred Shares, non-voting, ranked senior                to the                common stock and to the Series A Preferred Shares with a liquidation                value                of $3,000 per share, redeemable at the Company's option at any time                and                retractable at the holder's option on December 30, 2007 and every                ten-year                anniversary thereof. |
|----------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Highlights**

|  **(unaudited)**                                | ** ** | ** ****Quarter ended January                31**** **** **** **** ** | ** ** |
|------------------------------------------------------|------------|-----------------------------------------------------------------------------------------------|------------|
|                                                 |       | ** 2006**                                                                                | ** ** | ** 2005** | ** ** | ** %                Change** |   |
| **Operating              results**                   |       |                                                                                          |       |   |   |   |   |   |   |   |
| (millions              of Canadian dollars)          |       |                                                                                          |       |   |   |   |   |   |   |   |
| Total                revenues                        |       |                                                                                          | **$**979   |   |   | $983 |   |   | (0 | ) |
| Net                income                            |       |                                                                                          | **217**    |   |   | 239 |   |   | (9 | ) |
| Return                on common shareholders' equity |       |                                                                                          |       |   |   |   |   |   |   |   |
|                                                 |       |                                                                                          | **19.9**   | % |   | 23.6 | % |   |   |   |
| **Per                common share**                  |       |                                                                                          |       |   |   |   |   |   |   |   |
| Earnings                - basic                      |       |                                                                                          | **$**1.28  |   |   | $1.39 |   |   | (8 | ) |
| Dividends                paid                        |       |                                                                                          | **0.48**   |   |   | 0.42 |   |   | 14 |   |
| Book                value                            |       |                                                                                          | **25.72**  |   |   | 23.97 |   |   | 7 |   |
| Stock                trading range                   |       |                                                                                          |       |   |   |   |   |   |   |   |
| High                                                 |       |                                                                                          | **63.90**  |   |   | 49.75 |   |   |   |   |
| Low                                                  |       |                                                                                          | **58.35**  |   |   | 46.39 |   |   |   |   |
| Close                                                |       |                                                                                          | **61.75**  |   |   | 49.19 |   |   |   |   |

| **Financial              position**(millions                of Canadian dollars) |   |   | **January****31**** 2006 **  |   |   | **October                31****2005 **  |                 |   |    |   |
|----------------------------------------------------------------------------------|--------|--------|---------------------------------------------|--------|--------|---------------------------------------------------|----------------------|--------|---------|--------|
| Cash              resources and securities                                       |   |   | **47,536**                                  |   |   | 50,389                                            |                 |   | (6      | )      |
| Loans                and acceptances                                             |   |   | **51,235**                                  |   |   | 50,360                                            |                 |   | 2       |   |
| Other                assets                                                      |   |   | **6,505**                                   |   |   | 6,849                                             |                 |   | (5      | )      |
| Total                assets                                                      |   |   | **$**105,276                                |   |   | $107,598                                          |                 |   | (2      | )      |
|                                                                             |   |   |                                        |   |   |                                              |                 |   |    |   |
| Deposits                                                                         |   |   | **64,920**                                  |   |   | 61,977                                            |                 |   | 5       |   |
| Other                liabilities                                                 |   |   | **33,651**                                  |   |   | 39,435                                            |                 |   | (15     | )      |
|                                                                             |   |   |                                        |   |   |                                              |                 |   |    |   |
| Subordinated                debentures                                           |   |   | **1,600**                                   |   |   | 1,102                                             |                 |   | 45      |   |
| Non-controlling                interest                                          |   |   | **479**                                     |   |   | 487                                               |                 |   | (2      | )      |
|                                                                             |   |   |                                        |   |   |                                              |                 |   |    |   |
| Preferred                shares                                                  |   |   | **400**                                     |   |   | 400                                               |                 |   | — |   |
| Common                shares                                                     |   |   | **1,573**                                   |   |   | 1,565                                             |                 |   | 1       |   |
| Retained                earnings                                                 |   |   | **2,653**                                   |   |   | 2,632                                             |                 |   | 1       |   |
| Total                liabilities and shareholders' equity                        |   |   | **$**105,276                                |   |   | $107,598                                          |                 |   | (2      | )      |
|                                                                             |   |   |                                        |   |   |                                              |                 |   |    |   |
| Capital                ratios - BIS                                              |   |   |                                        |   |   |                                              |                 |   |    |   |
| Tier                1                                                            |   |   | **9.5**                                     | **%**  |   | 9.6                                               | %                    |   |    |   |
| Total                                                                            |   |   | **12.7**                                    | **%**  |   | 12.8                                              | %                (1) |   |    |   |
|                                                                             |   |   |                                        |   |   |                                              |                 |   |    |   |
| Impaired                loans, net of specific and general allowanc es           |   |   | **(195**                                    | **)**  |   | (191                                              | )                    |   |    |   |
| as                a % of loans and acceptances                                   |   |   | **(0.4)**                                   | **%**  |   | (0.4)                                             | %                    |   |    |   |
|                                                                             |   |   |                                        |   |   |                                              |                 |   |    |   |
| Assets                under administration/management                            |   |   | **227,796**                                 |   |   | 221,132                                           |                 |   |    |   |

----

| ITEM                2. | MANAGEMENT’S                DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF                OPERATIONS |
|------------------------|---------------------------------------------------------------------------------------------------------------------------|

**Overview**

*(in      thousands of U.S. dollars)*

**Critical      accounting policies **

**Results      of operations**

*(in      thousands of U.S. dollars)*

----

| ITEM                2. | MANAGEMENT’S                DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                (continued) |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------|

**Capital      Resources and Liquidity**

*(in      thousand of U.S. dollars)*

----

| ITEM                2. | MANAGEMENT’S                DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                (continued) |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------|

**Disclosure      of Contractual Obligations**

**Off-Balance      Sheet Arrangements**

| ITEM                3. | QUANTITATIVE                AND QUALITATIVE DISCLOSURES ABOUT MARKET                RISK |
|------------------------|------------------------------------------------------------------------------------------|

**Disclosure      About Market Risk**

| ITEM                4. | CONTROLS                AND PROCEDURES |
|------------------------|----------------------------------------|

----

| ITEM                1. | LEGAL                PROCEEDINGS |
|------------------------|----------------------------------|

| ITEM                6. | EXHIBITS |
|------------------------|----------|

|   | Exhibit                No. |   | Description                                                                                                                                                                  |
|--------|----------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                       |   |                                                                                                                                                                         |
|   | 11                         |   | Computation                of Earnings Per Share                                                                                                                             |
|   |                       |   |                                                                                                                                                                         |
|   | 31.1                       |   | Certification                of Chairman and President pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002                                              |
|   |                       |   |                                                                                                                                                                         |
|   | 31.2                       |   | Certification                of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002                                             |
|   |                       |   |                                                                                                                                                                         |
|   | 32.1                       |   | Written                Statement of Chairman and President Pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)                 |
|   |                       |   |                                                                                                                                                                         |
|   | 32.2                       |   | Written                Statement of Chief Financial Officer Pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002 (18 U.S.C. Section                1350) |

----

**SIGNATURES**

|                                                    |                                                                |                               |
|---------------------------------------------------------|---------------------------------------------------------------------|------------------------------------|
|                                                    | NB              CAPITAL              CORPORATION                    |
|                                                    |                                                                |                          |
| Date              May              12, 2006   |                             | /s/               Donna Goral |
|                                                    | Donna Goral Chairman of the Board and                President |

|                                                            |                                                               |                                     |
|-----------------------------------------------------------------|--------------------------------------------------------------------|------------------------------------------|
|                                                            |                                                               |                                |
| Date                  May                  12, 2006   |                            | /s/                   Jean Dagenais |
|                                                            | Jean Dagenais Chief Financial                    Officer      |

----