<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 0000777535
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 COLLEGE RETIREMENT EQUITIES FUND
001 B000000 811-4415
001 C000000 2129164905
002 A000000 730 THIRD AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
002 D020000 3206
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 7
077 A000000 Y
080 A00AA00 AETNA CASUALTY & SURETY COMPANY
080 C00AA00 100000
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
025 A000101 GOLDMAN SACHS GROUP LP
025 B000101 13-3501777
025 C000101 D
025 D000101 47749
025 A000102 MORGAN STANLEY GROUP, INC.
025 B000102 13-2838811
025 C000102 D
025 D000102 24789
025 A000103 MERRILL LYNCH & CO., INC.
025 B000103 13-2973073
025 C000103 D
025 D000103 9905
025 A000104 TRAVELERS GROUP, INC.
025 B000104 13-1912900
025 C000104 E
<PAGE> PAGE 2
025 D000104 189500
025 A000105 MORGAN (J.P.) & CO., INC.
025 B000105 13-3160926
025 C000105 E
025 D000105 163120
025 A000106 MERRILL LYNCH & CO., INC.
025 B000106 13-5674085
025 C000106 E
025 D000106 91820
025 A000107 MORGAN STANLEY GROUP, INC.
025 B000107 13-2838891
025 C000107 E
025 D000107 38974
025 A000108 CS HOLDINGS AG
025 B000108 13-5659485
025 C000108 E
025 D000108 28700
025 A000109 LEHMAN BROTHERS HOLDINGS, INC.
025 B000109 13-3216325
025 C000109 E
025 D000109 18465
025 D000110 0
025 D000111 0
025 D000112 0
025 D000113 0
025 D000114 0
025 D000115 0
025 D000116 0
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
071 A000100 11086992
071 B000100 9856789
071 C000100 60648815
071 D000100 16
072 A000100 12
<PAGE> PAGE 3
074 N000100 70702531
074 T000100 69370284
075 A000100 0
075 B000100 65510167
025 A000201 GOLDMAN SACHS GROUP LP
025 B000201 13-3501777
025 C000201 D
025 D000201 98454
025 A000202 SMITH BARNEY, INC.
025 B000202 13-2919773
025 C000202 D
025 D000202 49639
025 A000203 COMMERCIAL CREDIT CORPORATION
025 B000203 52-0883351
025 C000203 D
025 D000203 24876
025 A000204 MORGAN STANLEY GROUP, INC.
025 B000204 13-2838811
025 C000204 D
025 D000204 8425
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 2.4
062 G000200 9.4
062 H000200 2.2
062 I000200 61.7
062 J000200 0.0
062 K000200 0.0
062 L000200 24.3
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 12
074 N000200 3171983
074 T000200 3146855
075 A000200 3161644
075 B000200 0
<PAGE> PAGE 4
025 A000301 NATIONSBANK CORP.
025 B000301 56-1684171
025 C000301 D
025 D000301 5893
025 A000302 MORGAN (J.P.) & CO., INC.
025 B000302 13-3224016
025 C000302 D
025 D000302 3500
025 A000303 ASSOCIATES CORP OF NORTH AMERICA
025 B000303 74-1494454
025 C000303 D
025 D000303 3000
025 A000304 ABN AMRO BANK NV
025 B000304 13-3227945
025 C000304 D
025 D000304 3000
025 A000305 PAINE WEBBER GROUP, INC.
025 B000305 13-2638166
025 C000305 D
025 D000305 3000
025 A000306 SWISS BANK CORP.
025 B000306 13-3498485
025 C000306 D
025 D000306 3000
025 A000307 BEAR STEARNS COS., INC.
025 B000307 13-3299429
025 C000307 D
025 D000307 2000
025 D000308 0
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 1.8
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 46.1
062 N000300 30.4
062 O000300 0.0
062 P000300 20.3
062 Q000300 1.4
062 R000300 0.0
071 A000300 1472893
071 B000300 1213316
071 C000300 655466
071 D000300 185
<PAGE> PAGE 5
072 A000300 12
074 N000300 859380
074 T000300 833385
075 A000300 0
075 B000300 741555
025 A000401 COMMERCIAL CREDIT CORPORATION
025 B000401 52-0883351
025 C000401 D
025 D000401 3400
025 A000402 MERRILL LYNCH & CO., INC.
025 B000402 13-2793073
025 C000402 D
025 D000402 3125
025 A000403 HOUSEHOLD INTERNATIONAL NETHERLANDS BV
025 B000403 36-3121988
025 C000403 D
025 D000403 3000
025 A000404 NATIONSBANK CORP.
025 B000404 56-1684171
025 C000404 D
025 D000404 2000
025 A000405 MORGAN (J.P.) & CO., INC.
025 B000405 13-3224016
025 C000405 D
025 D000405 2000
025 A000406 CONAGRA INC.
025 B000406 47-0248710
025 C000406 D
025 D000406 1000
025 A000407 MORGAN (J.P.) & CO., INC.
025 B000407 13-3160926
025 C000407 E
025 D000407 6219
025 A000408 MERRILL LYNCH & CO., INC.
025 B000408 13-5674085
025 C000408 E
025 D000408 3341
025 A000409 TRAVELERS GROUP, INC.
025 B000409 13-1912900
025 C000409 E
025 D000409 2964
025 A000410 MORGAN STANLEY GROUP, INC.
025 B000410 13-2838891
025 C000410 E
025 D000410 2806
025 D000411 0
025 D000412 0
025 D000413 0
025 D000414 0
025 D000415 0
025 D000416 0
<PAGE> PAGE 6
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
071 A000400 714894
071 B000400 491417
071 C000400 933328
071 D000400 53
072 A000400 12
074 N000400 1188192
074 T000400 1164319
075 A000400 0
075 B000400 1048506
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
071 A000500 1840170
071 B000500 1820044
071 C000500 2696302
071 D000500 68
072 A000500 12
074 N000500 3298463
<PAGE> PAGE 7
074 T000500 3098795
075 A000500 0
075 B000500 2952617
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
071 A000600 863469
071 B000600 161533
071 C000600 661579
071 D000600 24
072 A000600 12
074 N000600 1171674
074 T000600 1156430
075 A000600 0
075 B000600 901968
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
071 A000700 289445
071 B000700 14539
071 C000700 174999
<PAGE> PAGE 8
071 D000700 8
072 A000700 12
074 N000700 397472
074 T000700 390878
075 A000700 0
075 B000700 254462
SIGNATURE ANTHONY V. BETRO
TITLE DIRECTOR, INV.ACCTG.
