EXHIBIT 23



INDEPENDENT AUDITORS' CONSENT
- -----------------------------

We consent to the incorporation by reference in the Registration  Statement
No.  333-59997  of Merrill  Lynch & Co.,  Inc. on Form S-3 of our reports  dated
March 28, 2000,  appearing in this Annual  Report on Form 10-K of Merrill  Lynch
Preferred  Capital Trust V and Merrill Lynch  Preferred  Funding V, L.P. for the
period ended December 31, 1999.


/s/ Deloitte & Touche LLP


New York, New York
March 28, 2000