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
                                                                                             August 1, 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 31, 2002 Jul 24, 2002  Aug 1, 2001 Jul 31, 2002

Reserve Bank Credit                                         655,498    -   3,165    +  59,126      659,027
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    600,142    +   2,526    +  64,069      600,455
    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)                      15,429    -   5,678    -   6,885       19,500
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            23    +       8    +      17            4
    Seasonal credit                                             180    -       3    -      16          182
    Extended credit                                               0            0            0            0
   Float                                                       -486    -      80    -     303         -950
   Other F.R. assets                                         40,200    +      62    +   2,244       39,826
Gold stock                                                   11,044            0            0       11,042
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,983    +      14    +   1,257       33,983
        Total factors supplying reserve funds               702,724    -   3,152    +  60,383      706,252
                                                                   
Currency in circulation*                                    659,578    -      81    +  57,087      661,131
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         381    +       3    -      37          377
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,779    +     468    +     548        6,242
  Foreign                                                        94    +      17    +      15          164
  Service-related balances and adjustments (5)               10,222    -      17    +   2,860       10,222
  Other                                                         216    -       2    -      90          236
Other F.R. liabilities and capital                           19,201    -     564    +   1,144       18,940
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             695,471    -     176    +  61,526      697,311

Reserve balances with F.R. Banks  (6)                         7,254    -   2,975    -   1,142        8,941
                                                                
On      July 31, 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 $    798,001 million, a change of $  +   7,038 million for the week. The total includes
$    645,831 million of U.S. government securities and $    152,171 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 $     22,498 million (daily average over statement week) and $     22,185 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     22,498 million (daily average)
   and $     22,185 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      2,203 million (daily average) and $      2,544 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     12,242 million of inflation-indexed securities valued at the original face amount and 
   $      1,151 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 $      9,962 million and adjustments of $        259 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 31, 2002     Jul 24, 2002      Aug 1, 2001
                ASSETS
Gold certificate account                                        11,038        -       1        -       6
Special drawing rights certificate account                       2,200                0                0
Coin                                                               947        +      25        -     163
Loans                                                              186        -     102        -       6
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           19,500        -   7,250        -   7,650
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       202,969        -      55        +  22,264
                   Notes (3)                                   291,777                0        +  37,149
                   Bonds (4)                                   105,709                0        +   4,941
    Total bought outright (5)                                  600,455        -      55        +  64,355
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          600,455        -      55        +  64,355
       Total loans and securities                              620,151        -   7,408        +  56,699
                          
Items in process of collection                    (1,026)        6,498        -     393        -   1,862
Bank premises                                                    1,519        -       3        +      14
Other assets (6)                                                38,193        -     526        +   2,158
                TOTAL ASSETS                      (1,026)      680,546        -   8,306        +  56,840
                          
                LIABILITIES
Federal Reserve notes                                          628,468        +     534        +  54,732
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       19,183        -  10,166        -     164
  U.S. Treasury--general account                                 6,242        +   1,157        +   2,094
  Foreign--official accounts                                       164        +      86        +      92
    Other                                             (0)          236        +       9        -      94
      Total deposits                                  (0)       25,825        -   8,914        +   1,928
Deferred availability cash items                  (1,026)        7,313        +     361        -   1,125
Other liabilities and accrued dividends (7)                      2,363        -      28        -     692
                TOTAL LIABILITIES                 (1,026)      663,969        -   8,048        +  54,843
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  8,266        +       1        +   1,101
Surplus                                                          7,312                0        +     587
Other capital accounts                                             999        -     259        +     309

*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 $      7,168 million of inflation-indexed securities valued at the original face amount and 
   $        644 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      5,074 million of inflation-indexed securities valued at the original face amount and 
   $        507 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     22,185 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,544 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 31, 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             151       21,605   -     875            0           0       17,500           0
16 days to 90 days          35      124,250   -   6,436            0           0        2,000           0
91 days to 1 year            0      147,388   +   5,625            0           0     ------      ------
Over 1 to 5 years                   171,575   +   1,631           10           0     ------      ------
Over 5 to 10 years                   54,005           0            0           0     ------      ------
Over 10 years                        81,632           0            0           0     ------      ------
                   		 	
Total                      186      600,455   -      55           10           0       19,500           0

1  Includes $     12,242 million of inflation-indexed securities valued at the original face amount and 
   $      1,151 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 31, 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                      11,038        533      4,363        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                                             947         40         47         41         46        125        121        115         57         33         66        136        119
                       
Loans                                            186          0          3          0          0          0          6         44         34         69         20          9          2
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          19,500          0     19,500          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                     202,969     11,629     79,860      7,805     11,199     15,830     14,452     23,885      7,217      3,173      6,000      4,505     17,414
                   Notes (3)                 291,777     16,717    114,803     11,220     16,099     22,757     20,776     34,336     10,375      4,561      8,625      6,476     25,033
                   Bonds (4)                 105,709      6,057     41,592      4,065      5,832      8,245      7,527     12,440      3,759      1,653      3,125      2,346      9,069
     Total bought outright(5)                600,455     34,403    236,256     23,089     33,130     46,831     42,755     70,662     21,351      9,387     17,749     13,326     51,517
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             600,455     34,403    236,256     23,089     33,130     46,831     42,755     70,662     21,351      9,387     17,749     13,326     51,517
       Total loans and securities            620,151     34,403    255,763     23,090     33,131     46,832     42,761     70,706     21,385      9,455     17,770     13,336     51,519
                       
Items in process of collection                 7,524        517        688        433        291        529        533        568        365        542        556        208      2,295
Bank premises                                  1,519         91        183         49        152        130        279        111         43        124         49        137        172
Other assets(6)                               38,193      2,005     13,418      1,261      2,553      5,501      2,574      3,955      1,020        651      1,007        841      3,407
Interdistrict settlement account                   0    - 5,353    +18,468    - 3,907    - 6,160    - 1,341    -   100    - 7,995    - 2,024    + 4,116    - 1,495    +10,900    - 5,109
          TOTAL ASSETS                       681,572     32,352    293,803     21,479     30,639     52,741     47,261     68,752     21,264     15,129     18,328     26,141     53,683

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 $      7,168 million of inflation-indexed securities valued at the original face amount and  $        644 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      5,074 million of inflation-indexed securities valued at the original face amount and  $        507 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     22,185 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,544 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 31, 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                         628,468     29,949    275,063     19,674     27,913     46,078     43,960     63,626     19,758     13,642     16,481     24,667     47,657
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      19,183        786      6,828        772        836      1,680      1,300      2,539        718        369        906        688      1,762
  U.S. Treasury--general account                6,242          0      6,242          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      164          2        140          1          3          7          2          3          1          1          1          1          3
  Other                                           236         11        126          0          0         59          0          1         36          0          1          1          1
    Total deposits                             25,825        799     13,335        773        839      1,746      1,303      2,543        754        370        908        689      1,766
Deferred credit items                           8,339        592        832        452        391        635        791        675        237        533        447        353      2,402
Other liabilities and accrued                 
  dividends (2)                                 2,363        144        750        106        135        226        197        255        105         75         95         89        185
    TOTAL LIABILITIES                         664,995     31,484    289,981     21,005     29,278     48,684     46,250     67,099     20,854     14,620     17,931     25,798     52,011
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 8,266        432      1,852        235        687      2,059        473        818        201        305        198        169        836
Surplus                                         7,312        418      1,504        221        665      1,757        535        793        149        118        191        164        796
Other capital accounts                            999         18        466         18         10        240          3         41         59         86          9          9         40
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              681,572     32,352    293,803     21,479     30,639     52,741     47,261     68,752     21,264     15,129     18,328     26,141     53,683
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        748,243     34,770    310,356     26,508     32,583     56,054     59,682     69,878     23,289     15,625     20,824     33,683     64,989
  Less--Held by F.R. Banks                    119,775      4,822     35,293      6,835      4,670      9,977     15,722      6,252      3,531      1,983      4,342      9,016     17,332
  F.R. notes, net                             628,468     29,949    275,063     19,674     27,913     46,078     43,960     63,626     19,758     13,642     16,481     24,667     47,657
Collateral held against F.R. notes            
   Gold certificate account                    11,038
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        615,230
     Total collateral                         628,468

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.