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 18, 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 17, 2002 Jul 10, 2002 Jul 18, 2001 Jul 17, 2002

Reserve Bank Credit                                         656,753    -   1,406    +  64,885      653,900
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    592,513    -     113    +  58,273      594,411
    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)                      24,571    -   1,286    +   4,842       19,750
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             2    -      40    -     162            3
    Seasonal credit                                             177    +      10    +       1          184
    Extended credit                                               0            0            0            0
   Float                                                       -310    -     811    -     678         -266
   Other F.R. assets                                         39,789    +     835    +   2,607       39,808
Gold stock                                                   11,044            0            0       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,955    +      14    +   1,257       33,955
        Total factors supplying reserve funds               703,952    -   1,392    +  66,143      701,099
                                                                   
Currency in circulation*                                    661,400    -   2,644    +  60,311      661,286
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         392    +       4    -      20          377
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,495    +     510    +     558        5,000
  Foreign                                                        98    -       1    +      23          156
  Service-related balances and adjustments (5)               10,118    -       5    +   3,042       10,118
  Other                                                         244    +      16    -      81          230
Other F.R. liabilities and capital                           19,910    +     335    +   1,983       19,578
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             697,657    -   1,786    +  65,815      696,746

Reserve balances with F.R. Banks  (6)                         6,295    +     394    +     328        4,353
                                                                
On      July 17, 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 $    792,037 million, a change of $  +   1,462 million for the week. The total includes
$    638,404 million of U.S. government securities and $    153,633 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 $     24,755 million (daily average over statement week) and $     22,977 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     24,755 million (daily average)
   and $     22,977 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        889 million (daily average) and $      2,109 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     11,712 million of inflation-indexed securities valued at the original face amount and 
   $      1,105 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Cash value of agreements arranged through third-party custodial banks.  These agreements are collateralized 
   by U.S. government and federal agency securities.
5  Consists of required clearing balances of $      9,902 million and adjustments of $        217 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 17, 2002     Jul 10, 2002     Jul 18, 2001
                ASSETS
Gold certificate account                                        11,039                0        -       5
Special drawing rights certificate account                       2,200                0                0
Coin                                                               897        +      12        -     182
Loans                                                              187        -      11        -     274
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           19,750        -   7,250        +   2,900
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       198,604        -     120        +  18,605
                   Notes (3)                                   290,167                0        +  34,812
                   Bonds (4)                                   105,640                0        +   4,892
    Total bought outright (5)                                  594,411        -     120        +  58,309
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          594,411        -     120        +  58,309
       Total loans and securities                              614,358        -   7,381        +  60,935
                          
Items in process of collection                    (1,111)        7,207        -     595        -   2,268
Bank premises                                                    1,520        +       1        +       7
Other assets (6)                                                38,286        +     347        +   2,585
                TOTAL ASSETS                      (1,111)      675,508        -   7,616        +  61,072
                          
                LIABILITIES
Federal Reserve notes                                          628,601        -   2,772        +  57,980
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       14,257        -   4,904        +   1,799
  U.S. Treasury--general account                                 5,000        -     194        -     619
  Foreign--official accounts                                       156        +      72        +      86
    Other                                             (0)          230        +       9        -      91
      Total deposits                                  (0)       19,643        -   5,017        +   1,176
Deferred availability cash items                  (1,111)        7,685        +     153        +      27
Other liabilities and accrued dividends (7)                      2,365        -      17        -     665
                TOTAL LIABILITIES                 (1,111)      658,295        -   7,652        +  58,519
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  8,261        -       7        +   1,108
Surplus                                                          7,312                0        +     591
Other capital accounts                                           1,641        +      43        +     855

*Figures in parentheses are the eliminations made in the consolidation process.
1  Cash value of agreements arranged through third-party custodial banks.
2  Face value of the securities.
3  Includes $      6,701 million of inflation-indexed securities valued at the original face amount and 
   $        605 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      5,011 million of inflation-indexed securities valued at the original face amount and 
   $        501 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     22,977 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,109 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 17, 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             170       20,434   +   4,365            0           0       15,750           0
16 days to 90 days          17      131,640   -   7,000            0           0        4,000           0
91 days to 1 year            0      137,332   +   1,506            0           0     ------      ------
Over 1 to 5 years                   169,944           0           10           0     ------      ------
Over 5 to 10 years                   53,499   +   1,010            0           0     ------      ------
Over 10 years                        81,563           0            0           0     ------      ------
                   		 	
Total                      187      594,411   -     120           10           0       19,750           0

1  Includes $     11,712 million of inflation-indexed securities valued at the original face amount and 
   $      1,105 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 17, 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                                             897         41         39         39         43        119        108        114         55         33         63        131        113
                       
Loans                                            187          2          0          0          0          0          5         48         33         60         20          8         11
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          19,750          0     19,750          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                     198,604     11,379     78,143      7,637     10,958     15,490     14,141     23,372      7,062      3,105      5,871      4,408     17,039
                   Notes (3)                 290,167     16,625    114,169     11,158     16,010     22,631     20,661     34,147     10,318      4,536      8,577      6,440     24,895
                   Bonds (4)                 105,640      6,053     41,565      4,062      5,829      8,239      7,522     12,432      3,756      1,651      3,123      2,345      9,064
     Total bought outright(5)                594,411     34,057    233,878     22,857     32,797     46,360     42,324     69,950     21,136      9,292     17,571     13,192     50,998
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             594,411     34,057    233,878     22,857     32,797     46,360     42,324     69,950     21,136      9,292     17,571     13,192     50,998
       Total loans and securities            614,358     34,059    253,632     22,857     32,797     46,361     42,330     70,000     21,169      9,352     17,591     13,200     51,009
                       
Items in process of collection                 8,318        493        905        354        315        529        628        751        371        637        618        309      2,407
Bank premises                                  1,520         92        183         49        152        130        280        109         43        124         49        138        172
Other assets(6)                               38,286      2,007     13,349      1,296      2,574      5,584      2,575      3,956      1,022        653      1,007        841      3,423
Interdistrict settlement account                   0    - 4,683    +12,943    - 3,335    - 5,588    +   111    + 1,028    - 8,055    - 2,043    + 4,558    - 1,452    +10,664    - 4,149
          TOTAL ASSETS                       676,619     32,656    286,289     21,773     30,919     53,799     48,041     68,168     21,034     15,566     18,252     25,865     54,255

1  Cash value of agreements arranged through third-party custodial banks.  These agreements are collateralized 
   by U.S. government and federal agency securities.
2  Face value of the securities.
3  Includes $      6,701 million of inflation-indexed securities valued at the original face amount and  $        605 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      5,011 million of inflation-indexed securities valued at the original face amount and  $        501 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     22,977 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,109 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 17, 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                         628,601     30,377    272,733     20,044     27,951     46,348     44,572     63,773     19,745     13,895     16,692     24,304     48,167
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      14,257        696      2,681        655        963      2,294      1,296      1,732        482        389        629        768      1,672
  U.S. Treasury--general account                5,000          0      5,000          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      156          2        132          1          3          7          2          3          1          1          1          1          3
  Other                                           230         15        144          0          1         64         -2          1          2          0          3          0          1
    Total deposits                             19,643        712      7,958        656        967      2,364      1,297      1,736        485        390        633        769      1,676
Deferred credit items                           8,796        522        901        469        446        666        916        688        265        698        416        347      2,463
Other liabilities and accrued                 
  dividends (2)                                 2,365        142        744        105        132        216        197        253        104         76         94         92        210
    TOTAL LIABILITIES                         659,406     31,752    282,336     21,274     29,496     49,595     46,982     66,451     20,600     15,058     17,834     25,511     52,516
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 8,261        432      1,852        236        686      2,055        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                          1,641         54        597         42         72        392         51        106         84         85         29         21        107
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              676,619     32,656    286,289     21,773     30,919     53,799     48,041     68,168     21,034     15,566     18,252     25,865     54,255
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        750,142     34,918    309,300     26,766     32,751     56,330     60,387     70,068     23,382     15,680     20,930     33,909     65,720
  Less--Held by F.R. Banks                    121,540      4,541     36,567      6,722      4,801      9,982     15,815      6,294      3,637      1,785      4,238      9,605     17,552
  F.R. notes, net                             628,601     30,377    272,733     20,044     27,951     46,348     44,572     63,773     19,745     13,895     16,692     24,304     48,167
Collateral held against F.R. notes            
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                        1,191
   U.S. govt. and agency securities(3)        614,171
     Total collateral                         628,601

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.