EXHIBIT 23



CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
- --------------------------------------------------------

We consent to the incorporation by reference in Registration Statement No.
333-44173 of Merrill Lynch & Co., Inc., Merrill Lynch Preferred Capital Trust
IV, Merrill Lynch Preferred Funding IV, L.P., Merrill Lynch Preferred Capital
Trust V and Merrill Lynch Preferred Funding V, L.P. and Registration Statement
No. 333-59997 of Merrill Lynch & Co., Inc., Merrill Lynch Preferred Capital
Trust V and Merrill Lynch Preferred Funding V, L.P. on Forms S-3 of our reports
dated March 29, 2005, 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 year ended December 31, 2004.

/s/ Deloitte & Touche LLP


New York, New York
March 29, 2005