EXHIBIT 23









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

We consent to the incorporation by reference in Registration  Statement No.
333-42859 of Merrill  Lynch & Co.,  Inc. on Form S-3 of our reports  dated March
28,  2001,  appearing  in this  Annual  Report  on Form  10-K of  Merrill  Lynch
Preferred Capital Trust III and Merrill Lynch Preferred Funding III, L.P.for the
period ended December 29, 2000.


/s/ Deloitte & Touche LLP


New York, New York
March 28, 2001