MERRILL LYNCH CALIFORNIA BOND FUND OF ML CALIF MUN SERIES TR
NSAR-B, 1996-10-25
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Next: AMERICAN TECHNICAL CERAMICS CORP, DEF 14A, 1996-10-25



<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  6
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<PAGE>      PAGE  10
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SIGNATURE   GERALD M. RICHARD                            
TITLE       TREASURER           
 


<TABLE> <S> <C>

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   <NAME> MERRILL LYNCH CALIFORNIA MUNICIPAL BOND FUND
       
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<TABLE> <S> <C>

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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000765199
<NAME> ML CALIFORNIA MUNICIPAL SERIES TRUST
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   <NUMBER> 014
   <NAME> MERRILL LYNCH CALIFORNIA MUNICIPAL BOND FUND
       
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                   (797598)
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<NET-CHANGE-IN-ASSETS>                      (24139409)
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<PER-SHARE-NAV-BEGIN>                            11.40
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<PER-SHARE-NAV-END>                              11.49
<EXPENSE-RATIO>                                    .75
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000765199
<NAME> ML CALIFORNIA MUNICIPAL SERIES TRUST
<SERIES>
   <NUMBER> 021
   <NAME> ML CALIFORNIA INSURED MUNICIPAL BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                         92348094
<INVESTMENTS-AT-VALUE>                        94676333
<RECEIVABLES>                                  2330766
<ASSETS-OTHER>                                   64914
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                97072013
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       392370
<TOTAL-LIABILITIES>                             392370
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      98516266
<SHARES-COMMON-STOCK>                          1441410
<SHARES-COMMON-PRIOR>                          1472276
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<ACCUMULATED-NET-GAINS>                      (4164862)
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<ACCUM-APPREC-OR-DEPREC>                       2328239
<NET-ASSETS>                                  14182528
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              5365221
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (854079)
<NET-INVESTMENT-INCOME>                        4511142
<REALIZED-GAINS-CURRENT>                        605747
<APPREC-INCREASE-CURRENT>                      1181849
<NET-CHANGE-FROM-OPS>                          6298738
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (752385)
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<NUMBER-OF-SHARES-SOLD>                         192761
<NUMBER-OF-SHARES-REDEEMED>                   (252553)
<SHARES-REINVESTED>                              28926
<NET-CHANGE-IN-ASSETS>                         7182525
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (4404870)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                    (365739)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1200193
<AVERAGE-NET-ASSETS>                          14354380
<PER-SHARE-NAV-BEGIN>                             9.65
<PER-SHARE-NII>                                    .52
<PER-SHARE-GAIN-APPREC>                            .19
<PER-SHARE-DIVIDEND>                             (.52)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.84
<EXPENSE-RATIO>                                    .85
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000765199
<NAME> ML CALIFORNIA MUNICIPAL SERIES TRUST
<SERIES>
   <NUMBER> 022
   <NAME> ML CALIFORNIA INSURED MUNICIPAL BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                         92348094
<INVESTMENTS-AT-VALUE>                        94676333
<RECEIVABLES>                                  2330766
<ASSETS-OTHER>                                   64914
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<TOTAL-ASSETS>                                97072013
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       392370
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      98516266
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<SHARES-COMMON-PRIOR>                          7427977
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<ACCUMULATED-NET-GAINS>                      (4164862)
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<REALIZED-GAINS-CURRENT>                        605747
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<NET-CHANGE-FROM-OPS>                          6298738
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<DISTRIBUTIONS-OF-INCOME>                    (3437910)
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<NUMBER-OF-SHARES-SOLD>                        1369886
<NUMBER-OF-SHARES-REDEEMED>                  (1505050)
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<NET-CHANGE-IN-ASSETS>                         7182525
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000765199
<NAME> ML CALIFORNIA MUNICIPAL SERIES TRUST
<SERIES>
   <NUMBER> 023
   <NAME> ML CALIFORNIA INSURED MUNICIPAL BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1996
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<REALIZED-GAINS-CURRENT>                        605747
<APPREC-INCREASE-CURRENT>                      1181849
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<DISTRIBUTIONS-OF-INCOME>                     (161469)
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<NUMBER-OF-SHARES-SOLD>                         424343
<NUMBER-OF-SHARES-REDEEMED>                   (121901)
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<NET-CHANGE-IN-ASSETS>                         7182525
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (4404870)
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<OVERDIST-NET-GAINS-PRIOR>                    (365739)
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<GROSS-EXPENSE>                                1200193
<AVERAGE-NET-ASSETS>                           3491284
<PER-SHARE-NAV-BEGIN>                             9.64
<PER-SHARE-NII>                                    .46
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<EXPENSE-RATIO>                                   1.46
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000765199
<NAME> ML CALIFORNIA MUNICIPAL SERIES TRUST
<SERIES>
   <NUMBER> 024
   <NAME> ML CALIFORNIA INSURED MUNICIPAL BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
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<ACCUMULATED-NET-GAINS>                      (4164862)
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<NUMBER-OF-SHARES-REDEEMED>                    (63998)
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<GROSS-EXPENSE>                                1200193
<AVERAGE-NET-ASSETS>                           3104901
<PER-SHARE-NAV-BEGIN>                             9.65
<PER-SHARE-NII>                                    .51
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<PER-SHARE-NAV-END>                               9.85
<EXPENSE-RATIO>                                    .95
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000765199
<NAME> ML CALIFORNIA MUNICIPAL SERIES TRUST
<SERIES>
   <NUMBER> 011
   <NAME> MERRILL LYNCH CALIFORNIA MUNICIPAL BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1996
<PERIOD-START>                             SEP-01-1995
<PERIOD-END>                               AUG-31-1996
<INVESTMENTS-AT-COST>                        598689871
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<PAYABLE-FOR-SECURITIES>                             0
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<OTHER-ITEMS-LIABILITIES>                      2843352
<TOTAL-LIABILITIES>                            2843352
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     626508078
<SHARES-COMMON-STOCK>                          3713704
<SHARES-COMMON-PRIOR>                          3880999
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<ACCUMULATED-NET-GAINS>                     (16973057)
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<NET-ASSETS>                                  42668594
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<NET-INVESTMENT-INCOME>                       33842706
<REALIZED-GAINS-CURRENT>                       4306220
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<NUMBER-OF-SHARES-SOLD>                         343484
<NUMBER-OF-SHARES-REDEEMED>                   (602254)
<SHARES-REINVESTED>                              91475
<NET-CHANGE-IN-ASSETS>                      (24139409)
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<AVERAGE-NET-ASSETS>                          44207860
<PER-SHARE-NAV-BEGIN>                            11.40
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<EXPENSE-RATIO>                                    .65
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</TABLE>


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