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 25, 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 24, 2002 Jul 17, 2002 Jul 25, 2001 Jul 24, 2002

Reserve Bank Credit                                         658,663    +   1,910    +  62,857      667,744
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    597,616    +   5,103    +  61,794      600,510
    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)                      21,107    -   3,464    -     736       26,750
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            15    +      13    -     141          104
    Seasonal credit                                             183    +       6    -      10          184
    Extended credit                                               0            0            0            0
   Float                                                       -406    -      96    -     498         -150
   Other F.R. assets                                         40,138    +     350    +   2,447       40,336
Gold stock                                                   11,044            0            0       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,969    +      14    +   1,257       33,969
        Total factors supplying reserve funds               705,875    +   1,923    +  64,113      714,957
                                                                   
Currency in circulation*                                    659,659    -   1,741    +  59,074      660,604
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         378    -      14    -      29          381
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,311    -     184    +     388        5,085
  Foreign                                                        77    -      21    -      30           78
  Service-related balances and adjustments (5)               10,239    +     121    +   2,741       10,239
  Other                                                         218    -      26    -      85          227
Other F.R. liabilities and capital                           19,765    -     145    +   1,709       19,226
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             695,647    -   2,010    +  63,769      695,841

Reserve balances with F.R. Banks  (6)                        10,228    +   3,933    +     344       19,117
                                                                
On      July 24, 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 $    790,963 million, a change of $  -   1,074 million for the week. The total includes
$    635,472 million of U.S. government securities and $    155,492 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 $     22,445 million (daily average over statement week) and $     22,129 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     22,445 million (daily average)
   and $     22,129 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      2,077 million (daily average) and $      1,723 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 $      9,908 million and adjustments of $        331 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 24, 2002     Jul 17, 2002     Jul 25, 2001
                ASSETS
Gold certificate account                                        11,039                0        -       5
Special drawing rights certificate account                       2,200                0                0
Coin                                                               922        +      25        -     170
Loans                                                              288        +     101        +      76
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           26,750        +   7,000        -   8,300
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       203,024        +   4,420        +  22,746
                   Notes (3)                                   291,777        +   1,610        +  36,415
                   Bonds (4)                                   105,709        +      69        +   4,957
    Total bought outright (5)                                  600,510        +   6,099        +  64,118
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          600,510        +   6,099        +  64,118
       Total loans and securities                              627,559        +  13,201        +  55,895
                          
Items in process of collection                      (966)        6,891        -     316        -     269
Bank premises                                                    1,522        +       2        +       8
Other assets (6)                                                38,719        +     433        +   2,419
                TOTAL ASSETS                        (966)      688,852        +  13,344        +  57,879
                          
                LIABILITIES
Federal Reserve notes                                          627,934        -     667        +  57,126
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       29,349        +  15,092        -     769
  U.S. Treasury--general account                                 5,085        +      85        +     368
  Foreign--official accounts                                        78        -      78        -       1
    Other                                             (0)          227        -       3        -      64
      Total deposits                                  (0)       34,739        +  15,096        -     465
Deferred availability cash items                    (966)        6,952        -     733        -     154
Other liabilities and accrued dividends (7)                      2,391        +      26        -     677
                TOTAL LIABILITIES                   (966)      672,017        +  13,722        +  55,831
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  8,265        +       4        +   1,112
Surplus                                                          7,312                0        +     583
Other capital accounts                                           1,258        -     383        +     353

*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 $     22,129 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      1,723 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 24, 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             272       22,480   +   2,046            0           0       22,750           0
16 days to 90 days          16      130,686   -     954            0           0        4,000           0
91 days to 1 year            0      141,763   +   4,431            0           0     ------      ------
Over 1 to 5 years                   169,944           0           10           0     ------      ------
Over 5 to 10 years                   54,005   +     506            0           0     ------      ------
Over 10 years                        81,632   +      69            0           0     ------      ------
                   		 	
Total                      288      600,510   +   6,099           10           0       26,750           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 24, 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                                             922         42         39         40         48        125        115        113         56         33         66        133        113
                       
Loans                                            288          2          0        100          0          0          5         45         37         65         23          8          2
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          26,750          0     26,750          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                     203,024     11,632     79,882      7,807     11,202     15,834     14,456     23,892      7,219      3,174      6,001      4,506     17,419
                   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)                600,510     34,406    236,277     23,091     33,133     46,835     42,759     70,668     21,353      9,388     17,751     13,327     51,521
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             600,510     34,406    236,277     23,091     33,133     46,835     42,759     70,668     21,353      9,388     17,751     13,327     51,521
       Total loans and securities            627,559     34,408    263,031     23,192     33,134     46,836     42,765     70,715     21,390      9,453     17,775     13,336     51,524
                       
Items in process of collection                 7,857        415        690        380        285        463        857        612        385        623        421        419      2,306
Bank premises                                  1,522         92        183         49        152        130        280        111         43        124         49        138        172
Other assets(6)                               38,719      2,045     13,535      1,310      2,594      5,599      2,606      4,007      1,033        660      1,021        852      3,457
Interdistrict settlement account                   0    - 2,473    +12,477    - 3,899    - 5,322    -   841    -    27    - 7,493    - 2,080    + 4,636    -   812    +10,844    - 5,009
          TOTAL ASSETS                       689,818     35,176    295,194     21,584     31,517     53,278     47,688     69,357     21,244     15,737     18,895     26,304     53,843

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 $     22,129 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      1,723 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 24, 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                         627,934     30,008    274,194     19,824     27,802     45,923     44,243     63,577     19,683     13,846     16,488     24,612     47,734
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      29,349      3,636     10,289        682      1,844      2,314      1,457      3,143        808        687      1,604        952      1,934
  U.S. Treasury--general account                5,085          0      5,085          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       78          2         54          1          3          7          2          3          1          1          1          1          3
  Other                                           227         12        146          0          1         61          0          2          2          0          1          0          0
    Total deposits                             34,739      3,649     15,574        683      1,848      2,383      1,459      3,148        811        688      1,606        953      1,938
Deferred credit items                           7,919        492        799        487        346        617        755        697        230        616        299        301      2,280
Other liabilities and accrued                 
  dividends (2)                                 2,391        146        752        107        134        228        201        258        106         76         96         93        194
    TOTAL LIABILITIES                         672,983     34,295    291,319     21,100     30,130     49,150     46,657     67,680     20,830     15,226     18,489     25,959     52,147
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 8,265        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                          1,258         31        519         28         36        311         23         66         64         89         16         11         64
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              689,818     35,176    295,194     21,584     31,517     53,278     47,688     69,357     21,244     15,737     18,895     26,304     53,843
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        749,488     34,855    310,051     26,652     32,650     56,200     60,050     70,025     23,346     15,652     20,862     33,810     65,335
  Less--Held by F.R. Banks                    121,554      4,847     35,857      6,828      4,849     10,277     15,807      6,447      3,664      1,805      4,374      9,198     17,600
  F.R. notes, net                             627,934     30,008    274,194     19,824     27,802     45,923     44,243     63,577     19,683     13,846     16,488     24,612     47,734
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)        614,695
     Total collateral                         627,934

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.