<PAGE> PAGE 1
000 A000000 11/30/96
000 C000000 0000724201
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 RESERVE NEW YORK TAX-EXEMPT TRUST
001 B000000 811-3814
001 C000000 2129779982
002 A000000 810 SEVENTH AVENUE, 17TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
002 D020000 5868
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 NEW YORK TAX-EXEMPT FUND
007 C030100 N
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 A00AA01 RESERVE MANAGEMENT COMPANY, INC.
008 B00AA01 A
008 C00AA01 801-21972
008 D01AA01 MANHASSET
008 D02AA01 NY
008 D03AA01 11030
011 A00AA01 RESRV PARTNERS, INC.
011 B00AA01 8-26731
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
011 C04AA01 5868
012 A00AA01 RESERVE NEW YORK TAX-EXEMPT TRUST
012 B00AA01 84-1164
012 C01AA01 NEW YORK
012 C02AA01 NY
<PAGE> PAGE 2
012 C03AA01 10019
012 C04AA01 5868
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
013 B04AA01 6013
014 A00AA01 RESRV PARTNERS, INC.
014 B00AA01 8-26731
015 A00AA01 CHEMICAL BANK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10019
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 11
019 C00AA00 RESERVEFUN
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
021 000000 0
022 A000001 BEAR STEARNS & CO., INC.
022 B000001 13-3299429
022 C000001 4312
022 D000001 23550
022 A000002 PRUDENTIAL SECURITIES, INC.
022 B000002 22-2347336
022 C000002 48200
022 D000002 41900
022 A000003 MORGAN STANLEY & CO. INC.
022 B000003 13-2655998
022 C000003 18100
022 D000003 8900
022 A000004 FIRST ALBANY CORP.
022 B000004 14-1361448
022 C000004 4058
022 D000004 0
022 A000005 OPPENHEIMER & CO. INC.
022 B000005 13-2798343
022 C000005 3447
022 D000005 0
022 A000006 J.P. MORGAN SECURITIES INC.
<PAGE> PAGE 3
022 B000006 13-3224016
022 C000006 14500
022 D000006 2900
022 A000007 GOLDMAND SACHS & CO.
022 B000007 13-5108880
022 C000007 3000
022 D000007 0
022 A000008 SMITH BARNEY INC.
022 B000008 13-1912900
022 C000008 23200
022 D000008 2400
022 A000009 LEHMAN BROTHERS INC.
022 B000009 13-2518466
022 C000009 21350
022 D000009 9900
022 A000010 BANKERS TRUST SECURITIES CORP.
022 B000010 13-4941427
022 C000010 3008
022 D000010 1700
023 C000000 187179
023 D000000 92750
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 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 A01AA00 55156
028 A02AA00 248
028 A03AA00 55404
028 A04AA00 51154
028 B01AA00 100463
028 B02AA00 281
028 B03AA00 100744
028 B04AA00 80408
028 C01AA00 66912
028 C02AA00 344
028 C03AA00 67256
<PAGE> PAGE 4
028 C04AA00 62595
028 D01AA00 38337
028 D02AA00 286
028 D03AA00 38623
028 D04AA00 43742
028 E01AA00 54679
028 E02AA00 316
028 E03AA00 54995
028 E04AA00 53620
028 F01AA00 44607
028 F02AA00 325
028 F03AA00 44931
028 F04AA00 42948
028 G01AA00 360153
028 G02AA00 1800
028 G03AA00 361954
028 G04AA00 334466
028 H00AA00 27487
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 100
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 133
044 00AA00 133
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 500000
048 A02AA00 0.500
048 B01AA00 500000
<PAGE> PAGE 5
048 B02AA00 0.475
048 C01AA00 500000
048 C02AA00 0.450
048 D01AA00 500000
048 D02AA00 0.425
048 E01AA00 20000000
048 E02AA00 0.400
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 Y
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 N
060 B00AA00 N
061 00AA00 1000
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 0.0
<PAGE> PAGE 6
062 D00AA00 0.0
062 E00AA00 99.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 1.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 44
063 B00AA00 0.0
064 A00AA00 Y
064 B00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 Y
<PAGE> PAGE 7
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 Y
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 0
071 B00AA00 0
071 C00AA00 0
071 D00AA00 0
072 A00AA00 6
072 B00AA00 2586
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 374
072 G00AA00 0
072 H00AA00 0
072 I00AA00 0
072 J00AA00 0
072 K00AA00 0
072 L00AA00 0
072 M00AA00 4
072 N00AA00 0
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 0
072 S00AA00 0
072 T00AA00 133
072 U00AA00 0
072 V00AA00 0
072 W00AA00 275
072 X00AA00 786
072 Y00AA00 0
072 Z00AA00 1800
072AA00AA00 0
072BB00AA00 0
072CC01AA00 0
072CC02AA00 0
072DD01AA00 0
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.1800
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 892
<PAGE> PAGE 8
074 B00AA00 0
074 C00AA00 151147
074 D00AA00 0
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 916
074 M00AA00 0
074 N00AA00 152955
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 0
074 S00AA00 0
074 T00AA00 152955
074 U01AA00 152955
074 U02AA00 0
074 V01AA00 1.00
074 V02AA00 0.00
074 W00AA00 1.0001
074 X00AA00 12997
074 Y00AA00 0
075 A00AA00 149972
075 B00AA00 0
076 00AA00 0.00
077 A000000 N
078 000000 N
080 A00AA00 AETNA CASUALTY AND SURETY COMPANY
080 C00AA00 7000
081 A00AA00 Y
081 B00AA00 21
082 A00AA00 Y
082 B00AA00 50
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
<PAGE> PAGE 9
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE MARC C. COZZOLINO
TITLE COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-START> JUN-01-1996
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 151,212
<INVESTMENTS-AT-VALUE> 151,147
<RECEIVABLES> 916
<ASSETS-OTHER> 892
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 152,955
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 13
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 152,942
<SHARES-COMMON-PRIOR> 125,454
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 152,942
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,586
<OTHER-INCOME> 0
<EXPENSES-NET> 786
<NET-INVESTMENT-INCOME> 1,800
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 27,487
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,800
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 360,153
<NUMBER-OF-SHARES-REDEEMED> 334,466
<SHARES-REINVESTED> 1,800
<NET-CHANGE-IN-ASSETS> 27,487
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 374
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 786
<AVERAGE-NET-ASSETS> 149,972
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .012
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.012)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>