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
                                                                                           January 17, 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     Jan 16, 2002  Jan 9, 2002 Jan 17, 2001 Jan 16, 2002

Reserve Bank Credit                                         629,104    -   2,489    +  51,283      627,759
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    558,463    +   2,113    +  42,175      559,730
    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)                      32,971    -   3,958    +   8,743       30,900
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             8    -     147    +       4            2
    Seasonal credit                                              10    -       2    -      16           12
    Extended credit                                               0            0            0            0
   Float                                                        -81    -   1,005    -     812         -643
   Other F.R. assets                                         37,723    +     510    +   1,308       37,748
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,223    +      14    +   1,430       33,223
        Total factors supplying reserve funds               675,572    -   2,475    +  52,713      674,227
                                                                   
Currency in circulation*                                    632,744    -   6,314    +  48,405      632,241
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         432    +       4    -      24          416
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,712    +     659    -     817        6,719
  Foreign                                                       271    +     167    +     165           88
  Service-related balances and adjustments (5)                8,888    +      19    +   2,256        8,888
  Other                                                         232    +      45    +      33          238
Other F.R. liabilities and capital                           17,693    +     247    -     572       17,464
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             665,972    -   5,173    +  49,446      666,054

Reserve balances with F.R. Banks  (6)                         9,600    +   2,699    +   3,267        8,172
                                                                
On   January 16, 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 $    729,366 million, a change of $  +     210 million for the week. The total includes
$    593,939 million of U.S. government securities and $    135,427 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 $     18,661 million (daily average over statement week) and $     17,980 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,661 million (daily average)
   and $     17,980 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      2,624 million (daily average) and $      2,335 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     10,186 million of inflation-indexed securities valued at the original face amount and 
   $        951 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 $      8,399 million and adjustments of $        489 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
                                                           Jan 16, 2002      Jan 9, 2002     Jan 17, 2001
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,094        +      41        +     107
Loans                                                               14        -     999        -      11
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           30,900        -   6,600        +   8,380
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       187,759        +   1,538        +   3,749
                   Notes (3)                                   267,733        -       3        +  27,886
                   Bonds (4)                                   104,238        +     580        +  11,317
    Total bought outright (5)                                  559,730        +   2,116        +  42,952
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          559,730        +   2,116        +  42,952
       Total loans and securities                              590,654        -   5,484        +  51,201
                          
Items in process of collection                    (1,279)        8,657        -     423        -   6,838
Bank premises                                                    1,512        +       1        +      49
Other assets (6)                                                36,123        +     150        +   1,034
                TOTAL ASSETS                      (1,279)      651,285        -   5,715        +  45,551
                          
                LIABILITIES
Federal Reserve notes                                          600,528        -   4,145        +  47,199
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       17,869        -   3,703        +   4,245
  U.S. Treasury--general account                                 6,719        +   1,612        -   1,260
  Foreign--official accounts                                        88        +       7        -      15
    Other                                             (0)          238        +      54        -      45
      Total deposits                                  (0)       24,915        -   2,028        +   2,925
Deferred availability cash items                  (1,279)        8,378        +     403        -   4,101
Other liabilities and accrued dividends (7)                      2,353        -       9        -   1,726
                TOTAL LIABILITIES                 (1,279)      636,174        -   5,779        +  44,297
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,419                0        +     419
Surplus                                                          7,277        +       5        +   1,087
Other capital accounts                                             414        +      58        -     253

*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 $      5,766 million of inflation-indexed securities valued at the original face amount and 
   $        561 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      4,420 million of inflation-indexed securities valued at the original face amount and 
   $        390 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     17,980 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,335 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,   January 16, 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               5       22,622   +   6,355            0           0       25,900           0
16 days to 90 days           9      116,887   -   5,393            0           0        5,000           0
91 days to 1 year            0      132,034   +     576            0           0     ------      ------
Over 1 to 5 years                   156,660   +   1,704           10           0     ------      ------
Over 5 to 10 years                   51,630   -   1,706            0           0     ------      ------
Over 10 years                        79,897   +     580            0           0     ------      ------
                   		 	
Total                       14      559,730   +   2,116           10           0       30,900           0

1  Includes $     10,186 million of inflation-indexed securities valued at the original face amount and 
   $        951 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   January 16, 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                      11,045        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                                           1,094         60         61         49         61        171        121        119         61         33         76        135        146
                       
Loans                                             14          3          0          0          0          0          0          7          2          1          0          0          1
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          30,900          0     30,900          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                     187,759     11,281     76,912      7,712     10,992     11,217     12,911     21,265      6,767        586      5,795      3,404     18,916
                   Notes (3)                 267,733     16,086    109,672     10,997     15,674     15,994     18,410     30,323      9,650        835      8,264      4,854     26,974
                   Bonds (4)                 104,238      6,263     42,700      4,281      6,103      6,227      7,168     11,806      3,757        325      3,217      1,890     10,502
     Total bought outright(5)                559,730     33,630    229,284     22,990     32,769     33,439     38,489     63,394     20,174      1,746     17,276     10,147     56,392
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             559,730     33,630    229,284     22,990     32,769     33,439     38,489     63,394     20,174      1,746     17,276     10,147     56,392
       Total loans and securities            590,654     33,633    260,188     22,991     32,770     33,439     38,490     63,402     20,177      1,747     17,277     10,147     56,393
                       
Items in process of collection                 9,936        508      1,178        471        362        748        802        901        508        738        579        406      2,735
Bank premises                                  1,512         91        177         49        151        132        281        106         43        123         49        137        171
Other assets(6)                               36,123      1,873     13,203      1,323      2,134      4,805      2,379      3,432        980        656        978        795      3,565
Interdistrict settlement account                   0    - 2,939    -11,507    - 2,547    - 2,616    +11,864    + 3,846    + 3,105    +     4    +11,938    - 1,219    + 2,214    -12,143
          TOTAL ASSETS                       652,564     33,888    268,625     22,873     33,505     52,048     46,955     72,305     22,189     15,407     18,122     14,410     52,238

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 $      5,766 million of inflation-indexed securities valued at the original face amount and  $        561 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      4,420 million of inflation-indexed securities valued at the original face amount and  $        390 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     17,980 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,335 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   January 16, 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                         600,528     31,177    253,153     20,786     30,096     44,399     43,593     67,154     20,957     13,883     16,459     12,818     46,052
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      17,869      1,052      3,491        917      1,524      3,085      1,223      2,460        511        465        657        719      1,765
  U.S. Treasury--general account                6,719          0      6,719          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       88          2         64          1          2          7          2          3          1          1          1          1          3
  Other                                           238          2        137          0          2         90          1          1          0          0          3          1          1
    Total deposits                             24,915      1,056     10,412        919      1,527      3,182      1,225      2,464        512        466        661        721      1,770
Deferred credit items                           9,657        648      1,147        599        375        731        930        797        296        607        510        451      2,566
Other liabilities and accrued                 
  dividends (2)                                 2,353        142        748        109        132        202        197        255        106         61         97         84        223
    TOTAL LIABILITIES                         637,453     33,023    265,460     22,413     32,130     48,514     45,945     70,670     21,871     15,017     17,726     14,074     50,611
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,419        419      1,504        220        681      1,758        449        790        149        307        191        164        787
Surplus                                         7,277        418      1,504        221        665      1,757        535        793        149         84        191        164        796
Other capital accounts                            414         28        157         19         29         18         27         52         19          0         13          8         44
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              652,564     33,888    268,625     22,873     33,505     52,048     46,955     72,305     22,189     15,407     18,122     14,410     52,238
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        750,973     35,872    295,952     28,135     34,964     55,207     63,669     74,486     24,011     16,250     21,029     32,707     68,693
  Less--Held by F.R. Banks                    150,445      4,694     42,798      7,350      4,868     10,808     20,076      7,332      3,054      2,367      4,569     19,888     22,641
  F.R. notes, net                             600,528     31,177    253,153     20,786     30,096     44,399     43,593     67,154     20,957     13,883     16,459     12,818     46,052
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)        587,283
     Total collateral                         600,528

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.