<ARTICLE> 5 <CIK> 0001052635 <NAME> MERRILL LYNCH PREFERRED FUNDING V, L.P. <PERIOD-TYPE> OTHER <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> DEC-26-1998 <PERIOD-END> MAR-26-1999 <CASH> 0 <SECURITIES> 1,031,132,758 <RECEIVABLES> 18,575,648 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,049,708,406 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 1,049,708,406 <CURRENT-LIABILITIES> 18,575,648 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 876,300,000 <COMMON> 154,832,758 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 1,049,708,406 <SALES> 0 <TOTAL-REVENUES> 18,649,441 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 18,649,441 <INCOME-TAX> 0 <INCOME-CONTINUING> 18,649,441 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 18,649,441 <EPS-PRIMARY> 0 <EPS-DILUTED> 0