MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
NSAR-A, 1995-12-28
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<PAGE>      PAGE  1
000 A000000 10/31/95
000 C000000 0000814079
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 MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
001 B000000 811-5149
001 C000000 8002251576
002 A000000 ONE FINANCIAL CENTER 15TH FLOOR
002 B000000 BOSTON
002 C000000 MA
002 D010000 02111
002 D020000 2646
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 MERRILL LYNCH TREASURY FUND
007 C030100 N
007 C010200  2
007 C020200 MERRILL LYNCH INSTITUTIONAL FUND
007 C030200 N
007 C010300  3
007 C020300 MERRILL LYNCH GOVERNMENT FUND
007 C030300 N
007 C010400  4
007 C020400 MERRILL LYNCH INSTITUTIONAL TAX-EXEMPT FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FUND ASSET MANAGEMENT, L.P.
008 B00AA01 A
008 C00AA01 801-12485
008 D01AA01 PRINCETON
008 D02AA01 NJ
008 D03AA01 08543
008 D04AA01 9011
010 C01AA03 .
010 C02AA03 .
011 A00AA01 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
<PAGE>      PAGE  2
011 B00AA01 8-14663
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02111
011 C04AA01 2646
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-05003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02266
012 C04AA01 8500
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
013 B04AA01 1617
014 A00AA01 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B00AA01 8-7221
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 C04AA01 8500
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00  180
019 C00AA00 MERRILLLYN
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022 B000001 13-5108880
022 C000001  10555324
022 D000001   6638002
022 A000002 HSBC SECURITIES, INC.
022 B000002 13-2650272
022 C000002   4789766
022 D000002   1587814
022 A000003 SMITH BARNEY INC.
022 B000003 13-1912900
022 C000003   4777439
<PAGE>      PAGE  3
022 D000003    175136
022 A000004 LEHMAN BROTHERS INC.
022 B000004 13-2518466
022 C000004   3241145
022 D000004    361883
022 A000005 FUJI SECURITIES INC.
022 B000005 36-2880742
022 C000005   2836509
022 D000005     75020
022 A000006 BARCLAYS DE ZOETE WEDD SECURITIES INC.
022 B000006 13-3551367
022 C000006   1246219
022 D000006    695904
022 A000007 CS FIRST BOSTON CORPORATION
022 B000007 13-5659485
022 C000007   1376983
022 D000007    247951
022 A000008 MERRILL LYNCH PIERCE FENNER & SMITH INC.
022 B000008 13-5674085
022 C000008    723619
022 D000008    478518
022 A000009 SWISS BANK CORPORATION NEDERLAND N.V.
022 C000009    876729
022 D000009     75014
022 A000010 GMAC MORTGAGE CORP.
022 C000010    647162
022 D000010         0
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023 D000000   11778662
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<PAGE>      PAGE  4
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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  13
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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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<PAGE>      PAGE  18
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044  000400    118
045  000400 Y
046  000400 N
047  000400 Y
048  000400  0.000
048 A010400  1500000
048 A020400 0.450
048 B010400   500000
048 B020400 0.425
<PAGE>      PAGE  19
048 C010400        0
048 C020400 0.000
048 D010400        0
048 D020400 0.000
048 E010400        0
048 E020400 0.000
048 F010400        0
048 F020400 0.000
048 G010400        0
048 G020400 0.000
048 H010400        0
048 H020400 0.000
048 I010400        0
048 I020400 0.000
048 J010400        0
048 J020400 0.000
048 K010400  2000000
048 K020400 0.400
049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 Y
053 B000400 Y
062 A000400 Y
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400 100.0
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
063 A000400  51
063 B000400  0.0
064 A000400 Y
064 B000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
<PAGE>      PAGE  20
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400         0
071 B000400         0
071 C000400         0
071 D000400    0
072 A000400  6
072 B000400     7701
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400      857
072 G000400        0
072 H000400        0
072 I000400       51
072 J000400       49
072 K000400        0
072 L000400        4
072 M000400        3
072 N000400       67
072 O000400        0
072 P000400        0
<PAGE>      PAGE  21
072 Q000400        0
072 R000400        8
072 S000400        3
072 T000400        0
072 U000400       15
072 V000400        0
072 W000400        4
072 X000400     1061
072 Y000400      476
072 Z000400     7116
072AA000400        4
072BB000400        3
072CC010400        0
072CC020400        0
072DD010400     7112
072DD020400        0
072EE000400        0
073 A010400   0.0200
073 A020400   0.0000
073 B000400   0.0000
073 C000400   0.0000
074 A000400     2883
074 B000400        0
074 C000400   455417
074 D000400        0
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400        0
074 K000400        0
074 L000400     2966
074 M000400       94
074 N000400   461360
074 O000400     5905
074 P000400        0
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400      224
074 S000400        0
074 T000400   455231
074 U010400   455351
074 U020400        0
074 V010400     1.00
074 V020400     0.00
074 W000400   0.9990
074 X000400     1401
074 Y000400        0
<PAGE>      PAGE  22
075 A000400   378001
075 B000400        0
076  000400     0.00
080 C000400        0
081 B000400   0
082 B000400        0
SIGNATURE   WILLIAM M. BREEN                             
TITLE       SR. VICE PRESIDENT  
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
   <NUMBER> 1
   <NAME> MERRILL LYNCH TREASURY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1996
<PERIOD-START>                              MAY-1-1995
<PERIOD-END>                               OCT-31-1995
<INVESTMENTS-AT-COST>                        482090033
<INVESTMENTS-AT-VALUE>                       482116451
<RECEIVABLES>                                  1359412
<ASSETS-OTHER>                                 1230704
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               484706567
<PAYABLE-FOR-SECURITIES>                        205382
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        77924
<TOTAL-LIABILITIES>                             283306
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     484396843
<SHARES-COMMON-STOCK>                        484396843
<SHARES-COMMON-PRIOR>                        342864941
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         26418
<NET-ASSETS>                                 484423261
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             13435040
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  619237
<NET-INVESTMENT-INCOME>                       12815803
<REALIZED-GAINS-CURRENT>                        132094
<APPREC-INCREASE-CURRENT>                        46897
<NET-CHANGE-FROM-OPS>                         12994794
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     12947897
<DISTRIBUTIONS-OF-GAINS>                        134195
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     1353895934
<NUMBER-OF-SHARES-REDEEMED>                 1224754746
<SHARES-REINVESTED>                           12390714
<NET-CHANGE-IN-ASSETS>                       141531902
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           826340
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 972935
<AVERAGE-NET-ASSETS>                         468788885
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   .027
<PER-SHARE-GAIN-APPREC>                         178991
<PER-SHARE-DIVIDEND>                              .027
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   .027
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
   <NUMBER> 2
   <NAME> MERRILL LYNCH INSTITUTIONAL FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1996
<PERIOD-START>                              MAY-1-1995
<PERIOD-END>                               OCT-31-1995
<INVESTMENTS-AT-COST>                       7544876995
<INVESTMENTS-AT-VALUE>                      7547290361
<RECEIVABLES>                                 88062552
<ASSETS-OTHER>                                 3435451
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              7638788364
<PAYABLE-FOR-SECURITIES>                     115156146
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      7843767
<TOTAL-LIABILITIES>                          122999913
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    7513375085
<SHARES-COMMON-STOCK>                       7513375085
<SHARES-COMMON-PRIOR>                       6579987346
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                7515788451
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            219602489
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 8866320
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<NET-CHANGE-FROM-OPS>                        214374753
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                35940742038
<SHARES-REINVESTED>                          175905810
<NET-CHANGE-IN-ASSETS>                       933387739
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                         12116233
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               13642743
<AVERAGE-NET-ASSETS>                        7279975185
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   .029
<PER-SHARE-GAIN-APPREC>                        3638584
<PER-SHARE-DIVIDEND>                              .029
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .24
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
<SERIES>
   <NUMBER> 3
   <NAME> MERRILL LYNCH GOVERNMENT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1996
<PERIOD-START>                              MAY-1-1995
<PERIOD-END>                               OCT-31-1995
<INVESTMENTS-AT-COST>                       1567627926
<INVESTMENTS-AT-VALUE>                      1567657084
<RECEIVABLES>                                 29743446
<ASSETS-OTHER>                                 4370249
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              1601770779
<PAYABLE-FOR-SECURITIES>                      17614466
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       829681
<TOTAL-LIABILITIES>                           18444147
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    1583297474
<SHARES-COMMON-STOCK>                       1583297474
<SHARES-COMMON-PRIOR>                       1601046564
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         29158
<NET-ASSETS>                                1583326632
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             48600664
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 2050244
<NET-INVESTMENT-INCOME>                       46550420
<REALIZED-GAINS-CURRENT>                        154861
<APPREC-INCREASE-CURRENT>                       (9284)
<NET-CHANGE-FROM-OPS>                         46695997
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     46705281
<DISTRIBUTIONS-OF-GAINS>                        166165
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     5242709092
<NUMBER-OF-SHARES-REDEEMED>                 5304089489
<SHARES-REINVESTED>                           43631307
<NET-CHANGE-IN-ASSETS>                      (17749090)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2644684
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                3062034
<AVERAGE-NET-ASSETS>                        1619582659
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   .029
<PER-SHARE-GAIN-APPREC>                         145577
<PER-SHARE-DIVIDEND>                              .029
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000814079
<NAME> MERRILL LYNCH FUNDS FOR INSTITUTION SERIES
<SERIES>
   <NUMBER> 4
   <NAME> MERRILL LYNCH INSTITUTIONAL TAX-EXEMPT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1996
<PERIOD-START>                              MAY-1-1995
<PERIOD-END>                               OCT-31-1995
<INVESTMENTS-AT-COST>                        455416624
<INVESTMENTS-AT-VALUE>                       455416624
<RECEIVABLES>                                  2965943
<ASSETS-OTHER>                                 2977389
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               461359956
<PAYABLE-FOR-SECURITIES>                       5905000
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       224200
<TOTAL-LIABILITIES>                            6129200
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     455351187
<SHARES-COMMON-STOCK>                        455351187
<SHARES-COMMON-PRIOR>                        404028815
<ACCUMULATED-NII-CURRENT>                       (4281)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            796
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        120431
<NET-ASSETS>                                 455230756
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              7700711
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  584580
<NET-INVESTMENT-INCOME>                        7116131
<REALIZED-GAINS-CURRENT>                           796
<APPREC-INCREASE-CURRENT>                         5077
<NET-CHANGE-FROM-OPS>                          7116927
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      7111850
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     1378121320
<NUMBER-OF-SHARES-REDEEMED>                 1333409212
<SHARES-REINVESTED>                            6610264
<NET-CHANGE-IN-ASSETS>                               0
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           857492
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1060964
<AVERAGE-NET-ASSETS>                         377927153
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                            796
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .31
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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