<PAGE> PAGE 1
000 B000000 12/31/98
000 C000000 0000065109
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MERRILL LYNCH READY ASSETS TRUST
001 B000000 811-2556
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 MERRILL LYNCH ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-11583
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
011 A000001 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B000001 8-14663
011 C010001 PRINCETON
011 C020001 NJ
011 C030001 08543
011 C040001 9011
012 A000001 FINANCIAL DATA SERVICES, INC.
012 B000001 84-01339
012 C010001 JACKSONVILLE
012 C020001 FL
012 C030001 32246
<PAGE> PAGE 2
012 C040001 6484
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B000001 8-7221
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
015 A000002 BANKERS TRUST COMPANY
015 B000002 S
015 C010002 NEW YORK
015 C020002 NY
015 C030002 10006
015 E010002 X
015 A000003 THE CHASE MANHATTAN BANK
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 10017
015 E010003 X
015 A000004 CUSTODIAL TRUST CO.
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10167
015 E010004 X
015 A000005 MORGAN GUARANTY TRUST CO. OF NEW YORK
015 B000005 S
015 C010005 NEW YORK
015 C020005 NY
015 C030005 10260
015 E010005 X
018 000000 Y
019 A000000 Y
019 B000000 212
019 C000000 MERRILLLYN
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
<PAGE> PAGE 3
021 000000 0
022 A000001 LEHMAN BROTHERS COMMERCIAL PAPER
022 C000001 6001268
022 D000001 767549
022 A000002 GOLDMAN, SACHS & CO.
022 B000002 13-5108880
022 C000002 4463390
022 D000002 261796
022 A000003 HSBC SECURITIES, INC.
022 B000003 13-2650272
022 C000003 3296011
022 D000003 705984
022 A000004 FUJI SECURITIES INC.
022 B000004 36-2880742
022 C000004 2935554
022 D000004 44122
022 A000005 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000005 13-5659485
022 C000005 2483565
022 D000005 301058
022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006 2049564
022 D000006 172699
022 A000007 MORGAN STANLEY & CO. INCORPORATED
022 B000007 13-2655998
022 C000007 1436745
022 D000007 451134
022 A000008 CHASE SECURITIES INC.
022 B000008 13-3112953
022 C000008 1472300
022 D000008 366266
022 A000009 LANSTON (AUBREY G.) & CO. INC.
022 B000009 13-5552129
022 C000009 1204954
022 D000009 95200
022 A000010 PAINEWEBBER INCORPORATED
022 B000010 13-2638166
022 C000010 952046
022 D000010 131062
023 C000000 33401769
023 D000000 4077098
024 000000 Y
025 A000001 GOLDMAN SACHS GROUP, L.P.
025 C000001 D
025 D000001 325986
025 A000002 LEHMAN BROTHERS HOLDINGS, INC.
025 C000002 D
025 D000002 156574
025 A000003 AUBREY G. LANSTON & CO., INC.
025 C000003 D
<PAGE> PAGE 4
025 D000003 150000
025 A000004 MORGAN STANLEY, DEAN WITTER & CO.
025 C000004 D
025 D000004 43240
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 1035131
028 A020000 29420
028 A030000 0
028 A040000 998173
028 B010000 1037009
028 B020000 28691
028 B030000 0
028 B040000 1006803
028 C010000 956836
028 C020000 31720
028 C030000 0
028 C040000 967649
028 D010000 1062600
028 D020000 29126
028 D030000 0
028 D040000 1002856
028 E010000 934747
028 E020000 27204
028 E030000 0
028 E040000 898817
028 F010000 1135597
028 F020000 31677
028 F030000 0
028 F040000 1383085
028 G010000 6161920
028 G020000 177838
028 G030000 0
028 G040000 6257383
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
<PAGE> PAGE 5
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
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 8411
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.500
048 B010000 500000
048 B020000 0.400
048 C010000 4000000
048 C020000 0.350
048 D010000 5000000
048 D020000 0.325
048 E010000 5000000
048 E020000 0.300
048 F010000 5000000
048 F020000 0.275
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 20000000
048 K020000 0.250
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
<PAGE> PAGE 6
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 3.0
062 C000000 20.5
062 D000000 5.9
062 E000000 0.0
062 F000000 0.7
062 G000000 10.0
062 H000000 0.0
062 I000000 38.7
062 J000000 0.0
062 K000000 0.0
062 L000000 21.5
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 65
063 B000000 0.0
064 A000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
<PAGE> PAGE 7
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 406559
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 25784
072 G000000 390
072 H000000 0
072 I000000 10788
072 J000000 223
072 K000000 0
072 L000000 425
072 M000000 163
072 N000000 306
072 O000000 0
<PAGE> PAGE 8
072 P000000 9
072 Q000000 0
072 R000000 46
072 S000000 68
072 T000000 8411
072 U000000 0
072 V000000 0
072 W000000 64
072 X000000 46677
072 Y000000 0
072 Z000000 359882
072AA000000 1430
072BB000000 302
072CC010000 371
072CC020000 0
072DD010000 359882
072DD020000 0
072EE000000 1129
073 A010000 0.0497
073 A020000 0.0000
073 B000000 0.0002
073 C000000 0.0000
074 A000000 0
074 B000000 422811
074 C000000 6769584
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 47087
074 M000000 207
074 N000000 7239689
074 O000000 0
074 P000000 4395
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 61581
074 S000000 0
074 T000000 7173713
074 U010000 7173471
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 1.0000
074 X000000 523274
<PAGE> PAGE 9
074 Y000000 0
075 A000000 7201108
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 P000000 Y
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 2500
081 A000000 Y
081 B000000 133
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000065109
<NAME> MERRILL LYNCH READY ASSETS TRUST
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 7192153369
<INVESTMENTS-AT-VALUE> 7192395052
<RECEIVABLES> 47087564
<ASSETS-OTHER> 206648
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7239689264
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 65976254
<TOTAL-LIABILITIES> 65976254
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7173471327
<SHARES-COMMON-STOCK> 7173471327
<SHARES-COMMON-PRIOR> 6946795638
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 241683
<NET-ASSETS> 7173713010
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 406559223
<OTHER-INCOME> 0
<EXPENSES-NET> (46677177)
<NET-INVESTMENT-INCOME> 359882046
<REALIZED-GAINS-CURRENT> 1128586
<APPREC-INCREASE-CURRENT> 370665
<NET-CHANGE-FROM-OPS> 361381297
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (359882046)
<DISTRIBUTIONS-OF-GAINS> (1128586)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13077395532
<NUMBER-OF-SHARES-REDEEMED> (13210307466)
<SHARES-REINVESTED> 359587623
<NET-CHANGE-IN-ASSETS> 227046354
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 25784290
<INTEREST-EXPENSE> 8875
<GROSS-EXPENSE> 46677177
<AVERAGE-NET-ASSETS> 7201107823
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
