<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000802209
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 ECLIPSE FINANCIAL ASSET TRUST
001 B000000 811-4847
001 C000000 2125765773
002 A000000 51 MADISON AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10010
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C020200 BALANCED FUND
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007 C010300 3
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007 C010400 4
007 C020400 GROWTH AND INCOME FUND
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<PAGE> PAGE 2
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020 A000001 STANDARD AND POOR'S SECURITIES
020 B000001 13-2671951
020 C000001 84
020 A000002 INSTINET CORPORATION
020 B000002 13-3443395
020 C000002 64
020 A000003 JOSEPHTHAL LYON & ROSS, INC.
020 B000003 13-1850914
020 C000003 62
020 A000004 OPPENHEIMER AND CO. INC.
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<PAGE> PAGE 3
020 A000005 BEAR STEARNS AND COMPANY INC.
020 B000005 13-3299429
020 C000005 13
020 A000006 WILSHIRE ASSOCIATES, INC.
020 B000006 95-2755361
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020 A000007 PAINEWEBBER, INC.
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020 A000008 U.S. CLEARING CORPORATION
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020 A000009 VANDHAM SECURITIES CORPORATION
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022 C000002 4168
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022 C000003 3633
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022 D000004 4008
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022 D000007 2414
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<PAGE> PAGE 4
022 A000009 CHARLES SCHWAB & CO.
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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SIGNATURE JENNIFER B. MCHUGH
TITLE ATTORNEY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000802209
<NAME> ECLIPSE FINANCIAL ASSET TRUST
<SERIES>
<NUMBER> 01
<NAME> ECLIPSE EQUITY FUND
<MULTIPLIER> 1
<S> <C>
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<APPREC-INCREASE-CURRENT> (9,128,540)
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<NAME> ECLIPSE FINANCIAL ASSET TRUST
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<NUMBER> 02
<NAME> ECLIPSE BALANCED FUND
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<S> <C>
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<NAME> ECLIPSE ULTRA SHORT TERM INCOME FUND
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<S> <C>
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<CIK> 0000802209
<NAME> ECLIPSE FINANCIAL ASSET TRUST
<SERIES>
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<NAME> ECLIPSE GROWTH AND INCOME FUND
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<S> <C>
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