-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 jQepA7CVsHdZqXFfVw1AjA==

<SEC-DOCUMENT>0000914121-09-000330.txt : 20090129
<SEC-HEADER>0000914121-09-000330.hdr.sgml : 20090129
<ACCEPTANCE-DATETIME>20090129203756
ACCESSION NUMBER:		0000914121-09-000330
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090123
FILED AS OF DATE:		20090129
DATE AS OF CHANGE:		20090129

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST TRUST FOUR CORNERS SENIOR FLOATING RATE INCOME FUND II
		CENTRAL INDEX KEY:			0001282850
		IRS NUMBER:				113716541

	BUSINESS ADDRESS:	
		STREET 1:		120 EAST LIBERTY DRIVE
		STREET 2:		SUITE 400
		CITY:			WHEATON
		STATE:			IL
		ZIP:			60187
		BUSINESS PHONE:		630-765-8000

	MAIL ADDRESS:	
		STREET 1:		120 EAST LIBERTY DRIVE
		STREET 2:		SUITE 400
		CITY:			WHEATON
		STATE:			IL
		ZIP:			60187

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
		CENTRAL INDEX KEY:			0000728612
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21539
		FILM NUMBER:		09555821

	BUSINESS ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
		BUSINESS PHONE:		2126702273

	MAIL ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CENTER
		STREET 2:		NORTH TOWER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080

	FORMER NAME:	
		FORMER CONFORMED NAME:	MERRILL LYNCH PIERCE FENNER & SMITH INC
		DATE OF NAME CHANGE:	19920929

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH & CO., INC.
		CENTRAL INDEX KEY:			0000065100
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21539
		FILM NUMBER:		09555820

	BUSINESS ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CTR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080
		BUSINESS PHONE:		2124491000

	MAIL ADDRESS:	
		STREET 1:		4 WORLD FINANCIAL CTR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10080

	FORMER NAME:	
		FORMER CONFORMED NAME:	MERRILL LYNCH & CO INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p15089124-4_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-01-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001282850</issuerCik>
        <issuerName>FIRST TRUST FOUR CORNERS SENIOR FLOATING RATE INCOME FUND II</issuerName>
        <issuerTradingSymbol>FCT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000065100</rptOwnerCik>
            <rptOwnerName>MERRILL LYNCH &amp; CO., INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4 WORLD FINANCIAL CTR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000728612</rptOwnerCik>
            <rptOwnerName>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INC.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4 WORLD FINANCIAL CENTER</rptOwnerStreet1>
            <rptOwnerStreet2>NORTH TOWER</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-01-23</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2009-01-23</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.78</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>56918</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-01-23</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2009-01-23</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.8725</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>57318</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The shares reflected on this Form 4 are held by Merrill Lynch &amp; Co, Inc. through its wholly owned subsidiary Merrill Lynch,
 Pierce, Fenner &amp; Smith, Incorporated.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Merrill Lynch &amp; Co., Inc., By: /s/ Pia Thompson, Assistant Secretary</signatureName>
        <signatureDate>2009-01-29</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Merrill Lynch, Pierce, Fenner &amp; Smith, Inc., By: /s/ Pia Thompson, Assistant Secretary</signatureName>
        <signatureDate>2009-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----