SEPARATE ACCOUNT VA 2LNY OF FIRST TRANSAMERICA LIFE INS CO
NSAR-U, 1998-02-24
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                                FORM N-SAR
                            SEMI-ANNUAL REPORT
                    FOR REGISTERED INVESTMENT COMPANIES


Report for six month period ending:   /  /  (a)

          or fiscal year ending:  12/31  /97   (b)

Is this a transition report?  (Y/N)  _____N

Is this an amendment to a previous filing?  (Y/N)  _______N

Those  items or  sub-items  with a box "/"  after  the  item  number  should  be
completed only if the answer ha changed from the previous filing on this form.



1.   A.   Registrant Name:  SEPARATE ACCOUNT VA-2LNY OF TRANSAMERICA LIFE
INSURANCE COMPANY OF NEW YORK

     B.   File Number:  811-7368

     C.   Telephone Number:(213) 742-4454


2.   A.   Street:100 MANHATTANVILLE ROAD

     B.   City: PURCHASE           C. State: NY  D. Zip Code: 10577  Zip Ext:

     E.   Foreign Country:                   Foreign Postal Code:


3.   Is   this   the    first    filing    on   this    form   by    Registrant?
     (Y/N)_________________________N

4.   Is   this    the    last    filing    on   this    form   by    Registrant?
     (Y/N)_________________________N

5.   Is   Registrant   a   small    business    investment    company    (SBIC)?
     (Y/N)________________N  [If  answer is "Y"  (Yes)  complete  only  items 89
     through 110.]

6.   Is      Registrant      a      unit      investment       trust      (UIT)?
     (Y/N)_____________________________Y  [If answer is "Y" (Yes)  complete only
     items 111-132.]


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7.   A.   Is    Registrant   a   series   or   multiple    portfolio    company?
     (Y/N)________________N
     [If answer is "N" (No), go to item 8.]


     B.   How many separate series or portfolios did Registrant have at the
          end of the period?___________________________N/A



123. State the total value of the additional units considered in answering
     item 122 ($000's omitted)_______ $__________N/A

124. State  the total  value of units of prior  series  that were  placed in the
     portfolios  of subsequent  series  during the current  period (the value of
     these  units  is to be  measured  on  the  date  they  were  placed  in the
     subsequent series ($000's omitted)______________ $_________________N/A

125. State the total dollar amount of sales loads collected (before reallowances
     to other brokers or dealers) by Registrant's  principal underwriter and any
     underwriter  which is an  affiliated  person of the  principal  underwriter
     during the  current  period  solely from the sale of units of all series of
     Registrant ($000's omitted)_______ $____________0

126. Of the amount  shown in item 125,  state the total  dollar  amount of sales
     loads  collected from secondary  market  operations in  Registrant's  units
     (include  the sales  loads,  if any,  collected  on units of a prior series
     placed  in the  portfolio  of a  subsequent  series.)  ($000's  omitted)___
     $______N/A

127. Life opposite the appropriate  description below the number of series whose
     portfolios are invested  primarily (based upon a percentage of NAV) in each
     type of security shown,  the aggregate total assets at market value as of a
     date at or neat the end of the current  period of each such group of series
     and the total income distributions made by each such group of series during
     the current period (excluding distributions of realized gains, if any):

                                         Total          Total
                         Number of                 Assets    Distributions
                         Series          ($000's   ($000's
                         Investing       omitted)  omitted)


A.   U.S. Treasury
     direct issue__________                  $         $



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B.   U.S. Government
     agency____________                 $         $

C.   State and municipal
     tax-free___________                $         $

D.   Public utility
     debt_____________                       $         $

E.   Brokers or dealers
     debt or debt of
     brokers' or dealers'
     parent_____________                $         $

F.   All other corporate
     intermed. & long-term
     debt_________________                   $         $

G.   All other corporate
     short-term debt________                 $         $

H.   Equity securities of
     brokers or dealers
     or parents of
     brokers or dealers_______               $         $

I.   Investment company
     equity securities________           N/A    $303,498         $0

J.   All other equity
     securities___________                   $         $

K.   Other securities_______                 $         $

L.   Total assets of all
     series of
     registrant_________                N/A       $303,743         $0

128. Is the timely payment of principal and interest on any of the portfolio
     securities held by any of Registrant's series at the end of the current
     period insured or guaranteed by an entity other than the issuer? (Y/N)N/A

     [If answer is "N" (No), go to item 131.]

129. Is the  issuer  of any  instrument  covered  in item 128  delinquent  or in
     default as to payment of principal or interest at the end of the current


<PAGE>



     period?  (Y/N)N/A

     [If answer is "N" (No), go to item 131.]

130. In computations of NAV or offering price per unit, is any part of the
     value attributed to instruments identified in item 129 derived from
     insurance or guarantees?  (Y/N)N/A

131. Total  expenses  incurred  by all series of  Registrant  during the current
     reporting period ($000's omitted) $3,346

132. List the "811 (Investment  Company Act of 1940) registration number for all
     Series of Registrant that are being included in this filing:

     811-      811-      811-      811-      811-

     811-      811-      811-      811-      811-

     811-      811-      811-      811-      811-

     811-      811-      811-      811-      811-

     811-      811-      811-      811-      811-




<PAGE>





         This  report is signed on behalf of the  registrant  (or  depositor  or
trustee).



City of Los Angeles                       State of California

Date:  February 20, 1998




Name of Registrant, Depositor, or Trustee:  Separate Account VA-2LNY of 
Transamerica Life Insurance Company of New York






By:               /s/James W. Dederer
                  James W. Dederer
                  Chairman, General Counsel &
                  Corporate Secretary


Witness:         /s/Susan Vivino
                  Susan Vivino
                  Paralegal




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