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 Federal Reserve Banks
                                                                                              July 11, 2002
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     Jul 10, 2002  Jul 3, 2002 Jul 11, 2001 Jul 10, 2002

Reserve Bank Credit                                         658,153    -   1,638    +  66,751      661,700
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    592,626    +   1,772    +  59,859      594,531
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                              10            0            0           10
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      25,857    -   4,143    +   5,163       27,000
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            42    +      33    -     108           24
    Seasonal credit                                             167    -       1    +       6          173
    Extended credit                                               0            0            0            0
   Float                                                        500    +     715    -     341          329
   Other F.R. assets                                         38,950    -      14    +   2,171       39,632
Gold stock                                                   11,044            0            0       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,801    +      14    +   1,117       33,801
        Total factors supplying reserve funds               705,198    -   1,623    +  67,869      708,744
                                                                   
Currency in circulation*                                    663,900    +   4,125    +  62,413      663,898
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         392    -       2    -      47          394
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,985    -   1,163    +     189        5,194
  Foreign                                                        99    +      16    +      22           84
  Service-related balances and adjustments (5)               10,123    -      11    +   2,839       10,123
  Other                                                         228    -       3    -      55          221
Other F.R. liabilities and capital                           19,575    -     531    +   1,994       19,559
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             699,302    +   2,430    +  67,354      699,473

Reserve balances with F.R. Banks  (6)                         5,896    -   4,053    +     514        9,271
                                                                
On      July 10, 2002, 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 $    790,575 million, a change of $  -   2,419 million for the week. The total includes
$    635,093 million of U.S. government securities and $    155,482 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 $     23,476 million (daily average over statement week) and $     22,490 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     23,476 million (daily average)
   and $     22,490 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        559 million (daily average) and $        625 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     11,602 million of inflation-indexed securities valued at the original face amount and 
   $      1,216 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 $      9,902 million and adjustments of $        221 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
                                                           Jul 10, 2002      Jul 3, 2002     Jul 11, 2001
                ASSETS
Gold certificate account                                        11,039        -       5        -       5
Special drawing rights certificate account                       2,200                0                0
Coin                                                               885        -      20        -     178
Loans                                                              198        +      34        +       9
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           27,000        +     500        -     500
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       198,724        +   2,560        +  19,120
                   Notes (3)                                   290,167        +     662        +  37,602
                   Bonds (4)                                   105,640        +      54        +   4,992
    Total bought outright (5)                                  594,531        +   3,275        +  61,713
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          594,531        +   3,275        +  61,713
       Total loans and securities                              621,739        +   3,809        +  61,222
                          
Items in process of collection                      (955)        7,802        -   1,151        -     225
Bank premises                                                    1,519        +       1        +       7
Other assets (6)                                                37,939        +     710        +   2,541
                TOTAL ASSETS                        (955)      683,124        +   3,345        +  63,363
                          
                LIABILITIES
Federal Reserve notes                                          631,373        -     298        +  60,568
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       19,161        +   4,548        +   1,268
  U.S. Treasury--general account                                 5,194        +      20        -     250
  Foreign--official accounts                                        84        +       5        +       3
    Other                                             (0)          221        -      22        -      38
      Total deposits                                  (0)       24,660        +   4,552        +     983
Deferred availability cash items                    (955)        7,532        -   1,114        +      39
Other liabilities and accrued dividends (7)                      2,382        +      65        -     689
                TOTAL LIABILITIES                   (955)      665,947        +   3,205        +  60,901
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  8,268        -      66        +   1,125
Surplus                                                          7,312                0        +     635
Other capital accounts                                           1,598        +     207        +     704

*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 $      6,591 million of inflation-indexed securities valued at the original face amount and 
   $        715 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      5,011 million of inflation-indexed securities valued at the original face amount and 
   $        501 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     22,490 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $        625 million that are fully collateralized by other
   U.S. government securities.
6  Includes assets denominated in foreign currencies, revalued daily at market exchange rates.
7  Includes exchange-translation account reflecting the daily revaluation at market exchange rates of 
   foreign exchange commitments.
Components may not add to totals due to rounding.


MATURITY DISTRIBUTION OF LOANS AND SECURITIES,      July 10, 2002



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              75       16,069   -   2,550            0           0       18,000           0
16 days to 90 days         122      138,640   +   3,684            0           0        9,000           0
91 days to 1 year            0      135,826   +   1,425            0           0     ------      ------
Over 1 to 5 years                   169,944   +     716           10           0     ------      ------
Over 5 to 10 years                   52,489           0            0           0     ------      ------
Over 10 years                        81,563           0            0           0     ------      ------
                   		 	
Total                      198      594,531   +   3,275           10           0       27,000           0

1  Includes $     11,602 million of inflation-indexed securities valued at the original face amount and 
   $      1,216 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      July 10, 2002
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
         ASSETS                        
Gold certificate account                      11,039        533      4,364        430        522        819        926      1,080        346        179        309        485      1,046
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             885         45         38         42         42        118        102        110         54         34         62        125        113
                       
Loans                                            198          2          0          0          0          0          5         49         46         54         20          6         16
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          27,000          0     27,000          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                     198,724     11,386     78,190      7,641     10,965     15,499     14,150     23,386      7,066      3,107      5,874      4,410     17,050
                   Notes (3)                 290,167     16,625    114,169     11,158     16,010     22,631     20,661     34,147     10,318      4,536      8,577      6,440     24,895
                   Bonds (4)                 105,640      6,053     41,565      4,062      5,829      8,239      7,522     12,432      3,756      1,651      3,123      2,345      9,064
     Total bought outright(5)                594,531     34,063    233,925     22,861     32,803     46,369     42,333     69,965     21,140      9,294     17,574     13,195     51,008
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             594,531     34,063    233,925     22,861     32,803     46,369     42,333     69,965     21,140      9,294     17,574     13,195     51,008
       Total loans and securities            621,739     34,066    260,929     22,862     32,804     46,370     42,339     70,014     21,186      9,348     17,595     13,201     51,026
                       
Items in process of collection                 8,757        517        955        367        481        629        698        599        372        547        509        417      2,666
Bank premises                                  1,519         92        183         49        152        130        280        110         43        124         49        138        172
Other assets(6)                               37,939      1,989     13,255      1,284      2,546      5,513      2,556      3,921      1,006        648        999        835      3,387
Interdistrict settlement account                   0    - 4,178    + 8,531    - 3,111    - 4,564    +   305    + 1,061    - 6,400    - 1,636    + 4,821    -   957    +10,131    - 4,002
          TOTAL ASSETS                       684,079     33,178    289,130     22,005     32,086     54,031     48,127     69,646     21,443     15,730     18,632     25,430     54,640

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 $      6,591 million of inflation-indexed securities valued at the original face amount and  $        715 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      5,011 million of inflation-indexed securities valued at the original face amount and  $        501 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     22,490 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $        625 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      July 10, 2002
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
       LIABILITIES                         
Federal Reserve notes                         631,373     30,604    272,636     20,339     28,303     46,847     44,581     64,877     19,998     13,965     16,886     23,749     48,588
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      19,161      1,000      5,486        663      1,867      2,069      1,393      2,162        697        529        810        870      1,615
  U.S. Treasury--general account                5,194          0      5,194          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       84          2         60          1          3          7          2          3          1          1          1          1          3
  Other                                           221         12        133          0          1         70          0          0          3          0          1          1          0
    Total deposits                             24,660      1,014     10,873        664      1,871      2,145      1,396      2,165        701        529        812        871      1,618
Deferred credit items                           8,487        518        945        401        364        566        902        639        202        664        425        366      2,495
Other liabilities and accrued                 
  dividends (2)                                 2,382        144        747        107        134        216        198        256        106         75         95         92        211
    TOTAL LIABILITIES                         666,902     32,280    285,201     21,511     30,672     49,774     47,077     67,937     21,007     15,234     18,218     25,078     52,912
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 8,268        432      1,852        236        686      2,054        473        818        208        305        198        170        836
Surplus                                         7,312        418      1,504        221        665      1,757        535        793        149        118        191        164        796
Other capital accounts                          1,598         48        573         37         64        445         42         97         79         74         24         19         96
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              684,079     33,178    289,130     22,005     32,086     54,031     48,127     69,646     21,443     15,730     18,632     25,430     54,640
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        750,562     35,037    309,426     26,686     32,920     56,541     60,174     70,639     23,462     15,723     20,852     33,720     65,383
  Less--Held by F.R. Banks                    119,189      4,433     36,790      6,348      4,617      9,694     15,593      5,762      3,463      1,758      3,967      9,971     16,794
  F.R. notes, net                             631,373     30,604    272,636     20,339     28,303     46,847     44,581     64,877     19,998     13,965     16,886     23,749     48,588
Collateral held against F.R. notes            
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        618,134
     Total collateral                         631,373

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.