FEDERAL RESERVE
These data are scheduled for release each Thursday.  The exact time of each release will be announced, when
the information is available, on (202) 452-3206.

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of F.R. Banks
                                                                                               May 24, 2001
Millions of dollars
                                                                   Averages of daily figures
      Reserve balances of depository institutions at     Week ended   Change from week ended     Wednesday
 F.R. Banks, Reserve Bank credit, and related items     May 23, 2001 May 16, 2001 May 24, 2000 May 23, 2001

Reserve Bank Credit                                         582,087    -   2,759    +  29,432      584,970
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    526,099    -   1,159    +  18,417      525,608
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                              10            0    -     130           10
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      20,915    +     862    +   9,799       23,705
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             3    -     522    -     151            1
    Seasonal credit                                              83    -       5    -     241           84
    Extended credit                                               0            0            0            0
   Float                                                        155    +     305    -     985          504
   Other F.R. assets                                         34,823    -   2,238    +   2,724       35,058
Gold stock                                                   11,046            0    -       2       11,046
Special drawing rights certificate account                    2,200            0    -   3,000        2,200
Treasury currency outstanding                                32,369    +      14    +   2,735       32,369
        Total factors supplying reserve funds               627,702    -   2,744    +  29,165      630,584
                                                                   
Currency in circulation*                                    590,845    +     637    +  25,624      593,175
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         511    -       6    +     307          510
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,993    -     176    -     121        4,788
  Foreign                                                        76    -      28    -       2           84
  Service-related balances and adjustments (5)                7,087    +     242    +     300        7,087
  Other                                                         342    -      53    +      89          328
Other F.R. liabilities and capital                           17,944    -       2    +   2,605       17,685
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             621,799    +     615    +  28,802      623,658

Reserve balances with F.R. Banks  (6)                         5,902    -   3,360    +     362        6,927
                                                                
On       May 23, 2001, the face amount of marketable U.S. government and federal agency securities held in custody by the Federal Reserve
Banks for foreign official and international accounts was $    713,342 million, a change of $  -   1,767 million for the week. The total includes
$    585,028 million of U.S. government securities and $    128,314 million of federal agency securities. The total includes the face value of
U.S. Treasury strips and other zero coupon bonds.
1  Face value of the securities.
2  Net of $     19,638 million (daily average over statement week) and $     20,914 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     19,638 million (daily average)
   and $     20,914 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,409 million (daily average) and $      2,356 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      8,301 million of inflation-indexed securities valued at the original face amount and 
   $        718 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Cash value of agreements arranged through third-party custodial banks.  These agreements are collateralized 
   by U.S. government and federal agency securities.
5  Consists of required clearing balances of $      6,601 million and adjustments of $        486 million to 
   compensate for float.
6  Excludes required clearing balances and adjustments to compensate for float.

* Estimated (Treasury's figures).
Components may not add to totals due to rounding.

Worksheet for H.4.1 (a)

CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
Millions of Dollars
                                                                                    Change Since
                                                  *          Wednesday        Wednesday        Wednesday
                                                           May 23, 2001     May 16, 2001     May 24, 2000
                ASSETS
Gold certificate account                                        11,046                0        -       2
Special drawing rights certificate account                       2,200                0        -   3,000
Coin                                                             1,096        -       7        +     522
Loans                                                               85        -      25        -     399
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           23,705        -   8,042        +  11,175
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     130
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       175,026        -   3,682        -  26,732
                   Notes (3)                                   252,354        +     820        +  29,785
                   Bonds (4)                                    98,228        +      89        +  13,440
    Total bought outright (5)                                  525,608        -   2,772        +  16,493
  Held under repurchase agreements (1)                               0                0                0
     Total U.S. government securities                          525,608        -   2,772        +  16,493
       Total loans and securities                              549,408        -  10,839        +  27,139
                          
Items in process of collection                    (1,033)        7,633        -     236        +     454
Bank premises                                                    1,499                0        +     105
Other assets (6)                                                33,373        +     460        +   2,446
                TOTAL ASSETS                      (1,033)      606,256        -  10,619        +  27,664
                          
                LIABILITIES
Federal Reserve notes                                          562,413        +   1,627        +  24,262
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       13,406        -  11,194        +     148
  U.S. Treasury--general account                                 4,788        -     521        -     154
  Foreign--official accounts                                        84        +       8        +       8
    Other                                             (0)          328        -      27        +      79
      Total deposits                                  (0)       18,605        -  11,735        +      81
Deferred availability cash items                  (1,033)        7,553        -     542        +     656
Other liabilities and accrued dividends (7)                      3,398        -      20        -   1,336
                TOTAL LIABILITIES                 (1,033)      591,969        -  10,670        +  23,663
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,060        +      33        +     283
Surplus                                                          6,542        +      34        +   3,903
Other capital accounts                                             685        -      16        -     185

*Figures in parentheses are the eliminations made in the consolidation process.
1  Cash value of agreements arranged through third-party custodial banks.
2  Face value of the securities.
3  Includes $      5,614 million of inflation-indexed securities valued at the original face amount and 
   $        503 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      2,687 million of inflation-indexed securities valued at the original face amount and 
   $        214 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     20,914 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,356 million that are fully collateralized by other
   U.S. government securities.
6  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.
7  Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of 
   foreign exchange commitments.
Components may not add to totals due to rounding.


MATURITY DISTRIBUTION OF LOANS AND SECURITIES,       May 23, 2001
Holdings of securities include securitites held under repurchase agreements, which are classified according 
to remaining maturity.

Millions of dollars
                                    U.S. government         Federal agency                      Reverse
                     Loans          securities (1,2)        obligations(2)        Repurchase   Repurchase
                                              Weekly                  Weekly      Agreements   Agreements
                                  Holdings    changes      Holdings    changes    Triparty(3)  Triparty(3)
Within 15 days              81       19,531   +     355            0           0       19,705           0
16 to 90 days                4      111,343   -   1,481            0           0        4,000           0
91 days to 1 year            0      120,829   -   2,555            0           0     ------      ------
Over 1 to 5 years                   141,640   +     905           10           0     ------      ------
Over 5 to 10 years                   57,505   +       3            0           0     ------      ------
Over 10 years                        74,760   +       1            0           0     ------      ------
                   		 	
Total                       85      525,608   -   2,772           10           0       23,705           0

1  Includes $      8,301 million of inflation-indexed securities valued at the original face amount and 
   $        718 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
2  Includes face value of securities held under repurchase agreements classified by the remaining maturity of 
   the agreements.
3  Cash value of agreements arranged through third-party custodial banks classified by remaining maturity of 
   the agreements.
Components may not add to totals due to rounding.


H.4.1 (b)

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON       May 23, 2001
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
         ASSETS                        
Gold certificate account                      11,046        546      4,452        454        538        741        871      1,028        343        143        317        477      1,136
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,096         80         72         63         64        173        100        130         62         44         72        104        133
                       
Loans                                             85          1          0          0          0          0          1         21          5         39         14          0          5
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          23,705          0     23,705          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)      
  Bought outright                                 10          1          4          0          1          1          1          1          0          0          0          0          1
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
U.S. government securities(2)         
  Bought outright--Bills                     175,026     10,516     71,697      7,189     10,247     10,456     12,035     19,823      6,309        546      5,402      3,173     17,633
                   Notes (3)                 252,354     15,162    103,372     10,365     14,774     15,076     17,353     28,581      9,096        787      7,789      4,575     25,424
                   Bonds (4)                  98,228      5,902     40,237      4,035      5,751      5,868      6,754     11,125      3,540        306      3,032      1,781      9,896
     Total bought outright(5)                525,608     31,580    215,306     21,589     30,772     31,400     36,142     59,529     18,945      1,640     16,223      9,528     52,954
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             525,608     31,580    215,306     21,589     30,772     31,400     36,142     59,529     18,945      1,640     16,223      9,528     52,954
       Total loans and securities            549,408     31,581    239,016     21,589     30,772     31,401     36,144     59,552     18,950      1,679     16,237      9,529     52,959
                       
Items in process of collection                 8,667        599      1,173        547        317        615        710        735        428        507        591        237      2,207
Bank premises                                  1,499         94        167         50        154        130        281        105         37        125         49        137        170
Other assets(5)                               33,373      1,728     11,942      1,155      1,980      4,707      2,193      3,130        882        664        900        757      3,336
Interdistrict settlement account                   0    +   618    - 6,325    +    64    - 1,614    + 9,660    - 1,135    +   515    -   367    + 3,632    -   645    +   336    - 4,739
          TOTAL ASSETS                       607,289     35,361    251,370     24,004     32,315     47,573     39,330     65,407     20,406      6,824     17,587     11,675     55,437

1  Cash value of agreements arranged through third-party custodial banks.  These agreements are collateralized 
   by U.S. government and federal agency securities.
2  Face value of the securities.
3  Includes $      5,614 million of inflation-indexed securities valued at the original face amount and  $        503 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      2,687 million of inflation-indexed securities valued at the original face amount and  $        214 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     20,914 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,356 million that are fully collateralized by other U.S. government securities.
6  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.

Components may not add to totals due to rounding.


H.4.1 (c)

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON       May 23, 2001
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
       LIABILITIES                         
Federal Reserve notes                         562,413     32,412    239,313     22,257     30,230     40,649     36,206     60,795     18,874      5,470     16,152     10,299     49,754
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      13,406      1,244      1,765        437        604      2,597        951      2,128        764        334        489        550      1,541
  U.S. Treasury--general account                4,788          0      4,788          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       84          2         61          1          2          7          2          3          1          1          1          1          3
  Other                                           328          1        137          0          2        158          1          1          2          1          7          1         16
    Total deposits                             18,605      1,247      6,750        439        608      2,763        954      2,132        766        337        498        552      1,560
Deferred credit items                           8,586        627        982        676        363        690        868        656        284        475        422        372      2,171
Other liabilities and accrued                 
  dividends (2)                                 3,398        209      1,156        152        198        289        275        364        140         68        131        105        313
    TOTAL LIABILITIES                         593,002     34,495    248,201     23,523     31,399     44,391     38,303     63,947     20,064      6,349     17,203     11,328     53,798
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,060        417      1,451        229        411      1,694        495        706        162        371        184        152        788
Surplus                                         6,542        358      1,468        228        472      1,488        495        632        138        103        179        188        792
Other capital accounts                            685         91        250         24         34          0         37        122         42          0         21          7         59
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              607,289     35,361    251,370     24,004     32,315     47,573     39,330     65,407     20,406      6,824     17,587     11,675     55,437
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        737,903     36,509    295,115     30,312     35,377     54,071     58,904     69,604     22,581      9,267     20,669     31,933     73,562
  Less--Held by F.R. Banks                    175,490      4,097     55,802      8,055      5,147     13,422     22,698      8,809      3,706      3,796      4,516     21,634     23,808
  F.R. notes, net                             562,413     32,412    239,313     22,257     30,230     40,649     36,206     60,795     18,874      5,470     16,152     10,299     49,754
Collateral held against F.R. notes            
   Gold certificate account                    11,046
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        549,167
     Total collateral                         562,413

1  Cash value of agreements arranged through third-party custodial banks.  These agreements are collateralized 
   by U.S. government and federal agency securities.
2  Includes exchange translation account reflecting the monthly revaluation at market exchange rates of 
   foreign exchange commitments.
3  U.S. government and agency securities bought outright or held under repurchase agreement are valued at face amount.
   Includes cash value of repurchase agreements under triparty arrangements and excludes the par value of securities
   pledged under reverse repurchase agreements.

Components may not add to totals due to rounding.