<PAGE> PAGE 1
000 B000000 08/31/94
000 C000000 0000055615
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 KEYSTONE CUSTODIAN FUND B-2
001 B000000 811-93
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 INSTINET
020 B000001 13-3443395
020 C000001 22
020 A000002 PRUDENTIAL BACHE
020 B000002 22-2347336
020 C000002 8
020 A000003 THAMESWAY
020 C000003 6
020 A000004 DAVIS NED/BEAR STEARNS
020 B000004 13-2953224
020 C000004 4
020 A000005 FIRST BOSTON
020 B000005 13-5659485
020 C000005 4
020 A000006 SALOMAN BROTHERS
020 B000006 13-3082694
020 C000006 2
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 54
022 A000001 PRUDENTIAL SECURITIES
022 B000001 22-2347336
022 C000001 682304
022 D000001 0
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002 634658
<PAGE> PAGE 2
022 D000002 0
022 A000003 LINCOLN INVESTMENTS
022 C000003 452455
022 D000003 0
022 A000004 SANWA - BGR SECURITIES
022 B000004 13-3154528
022 C000004 386938
022 D000004 0
022 A000005 SMITH BARNEY
022 B000005 13-1912900
022 C000005 262317
022 D000005 0
022 A000006 DIRECT BOUGHT FFROM ISSUER
022 C000006 262134
022 D000006 0
022 A000007 PAINE WEBBER
022 B000007 13-2638166
022 C000007 227544
022 D000007 5775
022 A000008 KIDDER PEABODY
022 B000008 13-5650440
022 C000008 224942
022 D000008 1092
022 A000009 CARROLL MCENTEE
022 B000009 13-2650272
022 C000009 133269
022 D000009 0
022 A000010 AC SECURITIES
022 C000010 93615
022 D000010 0
023 C000000 3449869
023 D000000 13446
028 A010000 9692
028 A020000 8942
028 A030000 0
028 A040000 28029
028 B010000 6605
028 B020000 0
028 B030000 0
028 B040000 27124
028 C010000 5452
028 C020000 0
028 C030000 0
028 C040000 17142
028 D010000 14008
028 D020000 8633
028 D030000 0
028 D040000 17127
028 E010000 3411
028 E020000 0
028 E030000 0
<PAGE> PAGE 3
028 E040000 23390
028 F010000 4345
028 F020000 0
028 F030000 0
028 F040000 16201
028 G010000 43513
028 G020000 17575
028 G030000 0
028 G040000 129013
028 H000000 0
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 9147
044 000000 2720
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 1.6
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 7.4
062 N000000 12.6
062 O000000 0.0
062 P000000 65.3
062 Q000000 12.2
062 R000000 0.9
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
<PAGE> PAGE 4
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 Y
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1817430
071 B000000 1930033
071 C000000 907279
071 D000000 200
072 A000000 12
072 B000000 76909
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 4624
072 G000000 0
072 H000000 0
072 I000000 1911
072 J000000 324
072 K000000 0
072 L000000 51
072 M000000 52
072 N000000 31
072 O000000 0
072 P000000 0
072 Q000000 21
072 R000000 24
072 S000000 77
072 T000000 9147
072 U000000 0
072 V000000 0
072 W000000 108
072 X000000 16370
<PAGE> PAGE 5
072 Y000000 0
072 Z000000 60539
072AA000000 0
072BB000000 14281
072CC010000 0
072CC020000 77266
072DD010000 70243
072DD020000 0
072EE000000 0
073 A010000 1.2200
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 13212
074 C000000 113
074 D000000 783173
074 E000000 0
074 F000000 7449
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 19040
074 K000000 0
074 L000000 16672
074 M000000 117
074 N000000 839776
074 O000000 24356
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 1175
074 S000000 0
074 T000000 814245
074 U010000 53299
074 U020000 0
074 V010000 15.28
074 V020000 0.00
074 W000000 0.0000
074 X000000 39295
074 Y000000 0
075 A000000 0
075 B000000 907279
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 J000000 Y
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 FREDERICK JAMES
<PAGE> PAGE 6
080 C000000 35000
081 A000000 Y
081 B000000 40
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 N
085 B000000 N
SIGNATURE KEVIN J. MORRISSEY
TITLE TREASURER
