FIRST TRUST GNMA SERIES 37
485BPOS, 1995-02-23
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                                  S-1


                                                File No. 33-07965






               SECURITIES AND EXCHANGE COMMISSION
                   WASHINGTON, D.C. 20549-1004
                                
                                
                         POST-EFFECTIVE
                         AMENDMENT NO. 8
                                
                                
                               TO
                                
                            FORM S-6

For Registration Under the Securities Act of 1933 of Securities
of Unit Investment Trusts Registered on Form N-8B-2


                 THE FIRST TRUST GNMA SERIES 37
                      (Exact Name of Trust)
                                
                                
                      NIKE SECURITIES L.P.
                    (Exact Name of Depositor)
                                
                                
                      1001 Warrenville Road
                     Lisle, Illinois  60532
                                
                                
  (Complete address of Depositor's principal executive offices)
                                


          NIKE SECURITIES L.P.     CHAPMAN AND CUTLER
          Attn:  James A. Bowen    Attn:  Eric F. Fess
          1001 Warrenville Road    111 West Monroe Street
          Lisle, Illinois  60532   Chicago, Illinois  60603


        (Name and complete address of agents for service)
              CONTENTS OF POST-EFFECTIVE AMENDMENT
                    OF REGISTRATION STATEMENT
                                
     
     This  Post-Effective  Amendment  of  Registration  Statement
comprises the following papers and documents:

                          The facing sheet

                          The purpose of the Amendment

                          The signatures








                               S-1
                  THE PURPOSE OF THE AMENDMENT
     
     The   purpose   of  this  amendment  is  to  terminate   the
declaration  made  pursuant to Rule 24f-2 promulgated  under  the
Investment Company Act of 1940, as amended, because Units of  The
First  Trust GNMA Series 37 are no longer being offered for  sale
in  the secondary market.  A final Rule 24f-2 Notice with respect
to such series has been filed concurrently with this filing.
     









                               S-2
                           SIGNATURES
     
     Pursuant to the requirements of the Securities Act of  1933,
the Registrant, The First Trust GNMA Series 37, certifies that it
meets   all  of  the  requirements  for  effectiveness  of   this
Registration  Statement  pursuant  to  Rule  485(b)   under   the
Securities  Act  of 1933 and has duly caused this  Post-Effective
Amendment  of  its  Registration Statement to be  signed  on  its
behalf  by  the  undersigned thereunto  duly  authorized  in  the
Village of Lisle and State of Illinois on February 23, 1995.
                                    
                         THE FIRST TRUST GNMA SERIES 37
                                                             (Registrant)
                         By      NIKE SECURITIES L.P.
                                                              (Depositor)
                         
                         
                         By        Carlos E. Nardo
                                                    Senior Vice President
                                    
     
     Pursuant to the requirements of the Securities Act of  1933,
this  Post-Effective Amendment of Registration Statement has been
signed  below by the following person in the capacity and on  the
date indicated:

Signature                  Title*                  Date

Robert D. Van Kampen  Sole Director of       )
                      Nike Securities        )
                     Corporation, the        )
                      General Partner        ) February 23, 1995
                  of Nike Securities L.P.    )
                                             )
                                             )
                                             )Carlos E. Nardo
                                             )Attorney-in-Fact**


*The title of the person named herein represents his capacity  in
     and relationship to Nike Securities L.P., the Depositor.

**An executed copy of the related power of attorney was filed  wi
     th the Securities and Exchange Commission in connection with
     Amendment  No.  1  to  Form S-6 of The First  Trust  Special
     Situations Trust, Series 18 (File No. 33-42683) and the same
     is hereby incorporated herein by this reference.

                               S-3






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