October 20, 1995
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Rule 24f-2 Notice for
MERRILL LYNCH FEDERAL SECURITIES
TRUST
File No. 2-92366
Dear Sirs:
In accordance with the provisions of Rule
24f-2 under the Investment Company Act of
1940, Merrill Lynch Federal Securities Trust
(the "Fund") hereby files its Rule 24f-2
Notice (the "Notice").
1. The Notice is being filed for the fiscal year
ended August 31, 1995 (the "Fiscal Year").
2. 63,272,790 shares of beneficial interest
of the Fund which had been registered
under the Securities Act of 1933
(the "Securities Act") other than pursuant
to Rule 24f-2 remained unsold at the
beginning of the Fiscal Year.
3. 139,365,173 shares of beneficial interest
were registered under the Securities Act
during the Fiscal Year other than pursuant
to Rule 24f-2.
4. 58,605,186 shares of beneficial interest
were sold during the Fiscal Year.*
_______________
*Of this amount, 30,530,411 Class A shares
were sold at an aggregate price of
$282,073,169, 21,572,051 Class B shares
were sold at an aggregate price of
$201,569,458, 1,942,998 Class C shares
were sold at an aggregate price of
$18,329,377 and 4,559,726 Class D shares
were sold at an aggregate price of
$42,871,930. The aggregate sale price of
all shares of beneficial interest sold during
the fiscal year was $544,843,934.
<PAGE>
5. No shares of beneficial interest were
sold during the Fiscal Year in reliance
upon registration pursuant to Rule 24f-2.
Please direct any questions relating to this
Notice to Michael J. Hennewinkel, Merrill
Lynch Asset Management, P.O. Box 9011,
Princeton, NJ 08543, (609) 282-2024 or to
Laurin Blumenthal Kleiman at Brown & Wood,
One World Trade Center, New York, New York
10048, (212) 839-5525.
Very truly yours,
MERRILL LYNCH FEDERAL SECURITIES
TRUST
By /s/ Michael J. Hennewinkel
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Michael J. Hennewinkel
Secretary
