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`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 F.R. Banks
                                                                                               May 31, 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     May 30, 2001 May 23, 2001 May 31, 2000 May 30, 2001

Reserve Bank Credit                                         590,597    +   8,510    +  30,313      608,219
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    529,168    +   3,069    +  22,977      529,372
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                              10            0    -     130           10
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      26,534    +   5,619    +   5,621       42,380
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            22    +      19    -      24            1
    Seasonal credit                                              86    +       3    -     270           89
    Extended credit                                               0            0            0            0
   Float                                                       -482    -     637    -     678          871
   Other F.R. assets                                         35,259    +     436    +   2,817       35,495
Gold stock                                                   11,046            0    -       2       11,046
Special drawing rights certificate account                    2,200            0    -   3,000        2,200
Treasury currency outstanding                                32,383    +      14    +   2,712       32,383
        Total factors supplying reserve funds               636,225    +   8,524    +  30,022      653,847
                                                                   
Currency in circulation*                                    594,820    +   3,975    +  26,000      596,444
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         510    -       1    +     333          510
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,148    +     155    +     268        4,301
  Foreign                                                       148    +      72    +      66           72
  Service-related balances and adjustments (5)                6,879    -     208    +     133        6,879
  Other                                                         294    -      48    +      77          295
Other F.R. liabilities and capital                           17,960    +      16    +   2,604       17,738
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             625,759    +   3,960    +  29,482      626,239

Reserve balances with F.R. Banks  (6)                        10,466    +   4,564    +     540       27,608
                                                                
On       May 30, 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 $    707,007 million, a change of $  -   6,335 million for the week. The total includes
$    578,117 million of U.S. government securities and $    128,890 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 $     17,385 million (daily average over statement week) and $     17,205 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     17,385 million (daily average)
   and $     17,205 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,914 million (daily average) and $      1,570 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      8,301 million of inflation-indexed securities valued at the original face amount and 
   $        722 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 $      6,602 million and adjustments of $        277 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
                                                           May 30, 2001     May 23, 2001     May 31, 2000
                ASSETS
Gold certificate account                                        11,046                0        -       2
Special drawing rights certificate account                       2,200                0        -   3,000
Coin                                                             1,070        -      26        +     471
Loans                                                               90        +       5        -     341
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           42,380        +  18,675        +  15,985
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     130
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       178,786        +   3,760        -  19,537
                   Notes (3)                                   252,357        +       3        +  28,726
                   Bonds (4)                                    98,230        +       2        +  13,439
    Total bought outright (5)                                  529,372        +   3,764        +  22,628
  Held under repurchase agreements (1)                               0                0                0
     Total U.S. government securities                          529,372        +   3,764        +  22,628
       Total loans and securities                              571,853        +  22,445        +  38,143
                          
Items in process of collection                      (891)       10,612        +   2,979        -   1,373
Bank premises                                                    1,499                0        +      99
Other assets (6)                                                33,813        +     440        +   2,860
                TOTAL ASSETS                        (891)      632,094        +  25,838        +  37,198
                          
                LIABILITIES
Federal Reserve notes                                          565,642        +   3,229        +  24,052
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       33,995        +  20,589        +  12,361
  U.S. Treasury--general account                                 4,301        -     487        -   1,144
  Foreign--official accounts                                        72        -      12        -      38
    Other                                             (0)          295        -      33        +      69
      Total deposits                                  (0)       38,664        +  20,059        +  11,248
Deferred availability cash items                    (891)       10,050        +   2,497        -     569
Other liabilities and accrued dividends (7)                      3,390        -       8        -   1,362
                TOTAL LIABILITIES                   (891)      617,746        +  25,777        +  33,369
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,069        +       9        +     288
Surplus                                                          6,566        +      24        +   3,887
Other capital accounts                                             712        +      27        -     346

*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 $      5,614 million of inflation-indexed securities valued at the original face amount and 
   $        506 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      2,687 million of inflation-indexed securities valued at the original face amount and 
   $        216 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     17,205 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      1,570 million that are fully collateralized by other
   U.S. government securities.
6  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.
7  Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of 
   foreign exchange commitments.
Components may not add to totals due to rounding.


MATURITY DISTRIBUTION OF LOANS AND SECURITIES,       May 30, 2001
Holdings of securities include securitites held under repurchase agreements, which are classified according 
to remaining maturity.

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              86       18,608   -     923            0           0       36,380           0
16 to 90 days                5      116,467   +   5,124            0           0        6,000           0
91 days to 1 year            0      120,387   -     442            0           0     ------      ------
Over 1 to 5 years                   141,641   +       1           10           0     ------      ------
Over 5 to 10 years                   57,507   +       2            0           0     ------      ------
Over 10 years                        74,762   +       2            0           0     ------      ------
                   		 	
Total                       90      529,372   +   3,764           10           0       42,380           0

1  Includes $      8,301 million of inflation-indexed securities valued at the original face amount and 
   $        722 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       May 30, 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                      11,046        546      4,452        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                                           1,070         78         70         63         64        170         96        124         61         42         71        102        128
                       
Loans                                             90          0          0          1          0          0          1         23          6         37         18          0          4
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          42,380          0     42,380          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                     178,786     10,742     73,237      7,343     10,467     10,681     12,294     20,249      6,444        558      5,518      3,241     18,012
                   Notes (3)                 252,357     15,162    103,374     10,365     14,774     15,076     17,353     28,581      9,096        787      7,789      4,575     25,424
                   Bonds (4)                  98,230      5,902     40,238      4,035      5,751      5,868      6,755     11,125      3,541        306      3,032      1,781      9,896
     Total bought outright(5)                529,372     31,806    216,849     21,743     30,992     31,625     36,401     59,956     19,080      1,652     16,339      9,597     53,333
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             529,372     31,806    216,849     21,743     30,992     31,625     36,401     59,956     19,080      1,652     16,339      9,597     53,333
       Total loans and securities            571,853     31,807    259,233     21,745     30,993     31,626     36,403     59,980     19,087      1,689     16,357      9,597     53,338
                       
Items in process of collection                11,504        969      1,296        458        324        870      1,225        666        689        723        650        639      2,995
Bank premises                                  1,499         93        167         50        153        130        281        105         37        125         49        137        171
Other assets(5)                               33,813      1,754     12,125      1,171      2,006      4,726      2,225      3,179        900        666        913        766      3,380
Interdistrict settlement account                   0    +   963    -17,657    +   168    +   151    +14,128    -   868    + 1,241    -   575    + 4,248    -   341    +   642    - 2,100
          TOTAL ASSETS                       632,985     36,325    260,560     24,192     34,333     52,538     40,399     66,536     20,613      7,666     18,083     12,459     59,283

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 $      5,614 million of inflation-indexed securities valued at the original face amount and  $        506 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      2,687 million of inflation-indexed securities valued at the original face amount and  $        216 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     17,205 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      1,570 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       May 30, 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                         565,642     32,468    239,644     22,355     30,376     41,124     36,493     61,240     19,017      5,598     16,320     10,730     50,279
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      33,995      1,852     10,782        699      2,264      6,908      1,573      2,595        734        855        819        812      4,102
  U.S. Treasury--general account                4,301          0      4,301          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       72          2         49          1          2          7          2          3          1          1          1          1          3
  Other                                           295          1        136          0          4        129          0          2          3          0          7          1         12
    Total deposits                             38,664      1,855     15,267        700      2,270      7,044      1,576      2,599        738        856        827        814      4,118
Deferred credit items                          10,941        927      1,317        507        573        876      1,024        846        391        664        420        458      2,936
Other liabilities and accrued                 
  dividends (2)                                 3,390        208      1,144        150        200        287        278        362        143         69        132        105        312
    TOTAL LIABILITIES                         618,637     35,457    257,372     23,712     33,418     49,331     39,371     65,047     20,288      7,188     17,699     12,108     57,645
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,069        417      1,457        229        411      1,694        495        723        145        374        184        152        788
Surplus                                         6,566        358      1,468        228        472      1,512        495        632        138        104        179        188        792
Other capital accounts                            712         93        262         22         32          0         38        135         42          0         21         11         57
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              632,985     36,325    260,560     24,192     34,333     52,538     40,399     66,536     20,613      7,666     18,083     12,459     59,283
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        737,129     36,448    295,013     30,272     35,324     54,076     58,721     69,640     22,540      9,245     20,629     31,833     73,388
  Less--Held by F.R. Banks                    171,487      3,981     55,370      7,917      4,948     12,952     22,227      8,400      3,523      3,648      4,309     21,103     23,108
  F.R. notes, net                             565,642     32,468    239,644     22,355     30,376     41,124     36,493     61,240     19,017      5,598     16,320     10,730     50,279
Collateral held against F.R. notes            
   Gold certificate account                    11,046
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        552,396
     Total collateral                         565,642

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.`

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