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
                                                                                          November 23, 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     Nov 21, 2001 Nov 14, 2001 Nov 22, 2000 Nov 21, 2001

Reserve Bank Credit                                         619,225    +   3,223    +  51,224      623,390
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    549,068    +   3,031    +  36,043      549,166
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                              10            0    -     120           10
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      34,257    +   3,253    +  14,639       36,250
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            33    -      57    -     383            4
    Seasonal credit                                              30    -       1    -     118           31
    Extended credit                                               0            0            0            0
   Float                                                        601    +     529    -     351        2,391
   Other F.R. assets                                         35,226    -   3,532    +   1,514       35,538
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0    -   1,000        2,200
Treasury currency outstanding                                33,111    +      14    +   1,800       33,111
        Total factors supplying reserve funds               665,581    +   3,237    +  52,024      669,746
                                                                   
Currency in circulation*                                    622,985    +   1,615    +  46,435      626,282
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         436    -       2    +     147          428
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,603    +     913    +     428        4,627
  Foreign                                                       172    +      23    +      80          163
  Service-related balances and adjustments (5)                8,242    +     450    +   1,642        8,242
  Other                                                         274    +      18    +      36          257
Other F.R. liabilities and capital                           17,766    -     201    +      11       17,606
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             655,478    +   2,815    +  48,780      657,605

Reserve balances with F.R. Banks  (6)                        10,103    +     422    +   3,244       12,141
                                                                
On  November 21, 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 $    740,922 million, a change of $  +   4,554 million for the week. The total includes
$    608,839 million of U.S. government securities and $    132,083 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 $     18,764 million (daily average over statement week) and $     19,434 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,764 million (daily average)
   and $     19,434 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      4,371 million (daily average) and $      4,544 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      9,711 million of inflation-indexed securities valued at the original face amount and 
   $        940 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 $      7,804 million and adjustments of $        438 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
                                                           Nov 21, 2001     Nov 14, 2001     Nov 22, 2000
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0        -   1,000
Coin                                                             1,074        -      33        +     169
Loans                                                               35        +       5        -     111
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           36,250        -   1,505        +  11,635
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       184,655        +   1,149        +     772
                   Notes (3)                                   261,475        +     935        +  24,230
                   Bonds (4)                                   103,035        -     219        +  10,350
    Total bought outright (5)                                  549,166        +   1,866        +  35,353
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          549,166        +   1,866        +  35,353
       Total loans and securities                              585,460        +     365        +  46,756
                          
Items in process of collection                    (1,094)        9,608        -   5,063        +   1,136
Bank premises                                                    1,519        +       1        +      76
Other assets (6)                                                34,225        -   3,407        +   1,703
                TOTAL ASSETS                      (1,094)      645,131        -   8,137        +  48,838
                          
                LIABILITIES
Federal Reserve notes                                          594,673        +   3,154        +  44,481
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       19,627        -   7,198        +   3,357
  U.S. Treasury--general account                                 4,627        -     720        +     214
  Foreign--official accounts                                       163        -     308        +      92
    Other                                             (0)          257        -       5        +      24
      Total deposits                                  (0)       24,674        -   8,230        +   3,687
Deferred availability cash items                  (1,094)        8,178        -   3,063        +     733
Other liabilities and accrued dividends (7)                      2,696        -      48        -   1,672
                TOTAL LIABILITIES                 (1,094)      630,221        -   8,188        +  47,229
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,281        +       4        +     251
Surplus                                                          6,730        -       5        +   4,051
Other capital accounts                                             899        +      51        -   2,693

*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 $      5,739 million of inflation-indexed securities valued at the original face amount and 
   $        576 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      3,972 million of inflation-indexed securities valued at the original face amount and 
   $        364 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     19,434 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      4,544 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,  November 21, 2001



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              31       21,887   -     848            0           0       22,250           0
16 days to 90 days           4      115,019   -   2,360            0           0       14,000           0
91 days to 1 year            0      130,027   +     675            0           0     ------      ------
Over 1 to 5 years                   150,147   +   2,339           10           0     ------      ------
Over 5 to 10 years                   53,245   +   3,031            0           0     ------      ------
Over 10 years                        78,840   -     971            0           0     ------      ------
                   		 	
Total                       35      549,166   +   1,866           10           0       36,250           0

1  Includes $      9,711 million of inflation-indexed securities valued at the original face amount and 
   $        940 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  November 21, 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                      11,045        546      4,451        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                                           1,074         55         71         43         65        173        117        123         58         33         69        130        138
                       
Loans                                             35          1          0          0          0          0          4         11          4          3          7          2          3
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          36,250          0     36,250          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                     184,655     11,094     75,641      7,585     10,811     11,031     12,697     20,914      6,656        576      5,699      3,347     18,604
                   Notes (3)                 261,475     15,710    107,109     10,740     15,308     15,621     17,980     29,614      9,424        816      8,071      4,740     26,343
                   Bonds (4)                 103,035      6,191     42,207      4,232      6,032      6,155      7,085     11,670      3,714        321      3,180      1,868     10,381
     Total bought outright(5)                549,166     32,995    224,956     22,556     32,151     32,807     37,762     62,197     19,794      1,713     16,950      9,955     55,327
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             549,166     32,995    224,956     22,556     32,151     32,807     37,762     62,197     19,794      1,713     16,950      9,955     55,327
       Total loans and securities            585,460     32,996    261,211     22,557     32,151     32,808     37,767     62,210     19,798      1,716     16,958      9,957     55,332
                       
Items in process of collection                10,702        557        986        539        403      1,019      1,362        827        782        566        634        496      2,530
Bank premises                                  1,519         93        175         49        152        133        286        110         41        123         49        137        172
Other assets(6)                               34,225      1,761     12,403      1,178      2,025      4,748      2,247      3,209        909        665        923        768      3,389
Interdistrict settlement account                   0    - 1,928    -21,525    -   649    - 1,629    +10,732    + 3,611    + 6,996    +   640    + 9,708    -   950    + 3,485    - 8,490
          TOTAL ASSETS                       646,226     34,195    258,644     24,254     33,810     50,500     46,426     74,715     22,642     12,984     18,066     15,548     54,441

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 $      5,739 million of inflation-indexed securities valued at the original face amount and  $        576 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      3,972 million of inflation-indexed securities valued at the original face amount and  $        364 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     19,434 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      4,544 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  November 21, 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                         594,673     31,102    242,782     22,137     30,462     44,178     43,165     68,600     21,365     11,717     16,507     14,140     48,519
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      19,627      1,479      5,798        919      1,506      1,694      1,051      3,506        562        344        573        555      1,639
  U.S. Treasury--general account                4,627          0      4,627          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      163          2        139          1          2          7          2          3          1          1          1          1          3
  Other                                           257          1        132          0          2        100          1          1          0          0         15          1          3
    Total deposits                             24,674      1,482     10,696        920      1,510      1,802      1,054      3,510        563        345        589        557      1,646
Deferred credit items                           9,272        578      1,140        607        431        779        876        724        284        580        473        403      2,396
Other liabilities and accrued                 
  dividends (2)                                 2,696        166        872        123        160        239        224        287        115         62        109         92        248
    TOTAL LIABILITIES                         631,316     33,328    255,490     23,787     32,563     46,998     45,320     73,120     22,327     12,704     17,678     15,192     52,809
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,281        421      1,472        222        613      1,757        543        775        149        179        189        163        798
Surplus                                         6,730        358      1,468        228        472      1,679        495        632        138        101        179        188        792
Other capital accounts                            899         88        214         17        162         67         69        188         28          0         21          5         41
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              646,226     34,195    258,644     24,254     33,810     50,500     46,426     74,715     22,642     12,984     18,066     15,548     54,441
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        746,713     35,941    287,856     28,829     35,451     55,705     65,030     75,634     24,116     14,095     20,895     33,259     69,902
  Less--Held by F.R. Banks                    152,040      4,838     45,074      6,693      4,989     11,527     21,865      7,034      2,751      2,379      4,389     19,119     21,383
  F.R. notes, net                             594,673     31,102    242,782     22,137     30,462     44,178     43,165     68,600     21,365     11,717     16,507     14,140     48,519
Collateral held against F.R. notes            
   Gold certificate account                    11,045
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        581,428
     Total collateral                         594,673

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.