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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 Federal Reserve Banks
                                                                                                May 9, 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      May 8, 2002  May 1, 2002  May 9, 2001  May 8, 2002

Reserve Bank Credit                                         641,535    -   5,853    +  61,534      643,085
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    582,167    +   1,248    +  57,453      583,672
    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)                      19,929    -   7,500    +   2,496       19,000
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             5    -       7    -       3            2
    Seasonal credit                                              94    +      27    +      25           89
    Extended credit                                               0            0            0            0
   Float                                                         66    +     265    -     191          940
   Other F.R. assets                                         39,265    +     114    +   1,754       39,371
Gold stock                                                   11,044            0    -       2       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,675    +      14    +   1,228       33,675
        Total factors supplying reserve funds               688,453    -   5,839    +  62,759      690,003
                                                                   
Currency in circulation*                                    646,424    +   2,206    +  56,706      648,573
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         396    +       3    -     122          407
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,145    -   1,801    +      92        5,452
  Foreign                                                        87    -       3    +      12           82
  Service-related balances and adjustments (5)               10,129    +     117    +   3,252       10,129
  Other                                                         260    +      23    -     105          251
Other F.R. liabilities and capital                           19,123    +      79    +   1,089       18,754
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             681,565    +     625    +  60,924      683,649

Reserve balances with F.R. Banks  (6)                         6,888    -   6,464    +   1,835        6,353
                                                                
On        May 8, 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 $    742,477 million, a change of $  +     470 million for the week. The total includes
$    595,294 million of U.S. government securities and $    147,183 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 $     20,021 million (daily average over statement week) and $     18,638 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     20,021 million (daily average)
   and $     18,638 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        585 million (daily average) and $        370 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     11,602 million of inflation-indexed securities valued at the original face amount and 
   $      1,089 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 $      9,861 million and adjustments of $        268 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 8, 2002      May 1, 2002      May 9, 2001
                ASSETS
Gold certificate account                                        11,044                0        -       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                               973        -       9        -     137
Loans                                                               92        -       4        -       3
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           19,000        -  15,500        +   3,993
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       194,812        +   2,796        +  15,904
                   Notes (3)                                   283,545        +       9        +  34,176
                   Bonds (4)                                   105,315        +       7        +   7,150
    Total bought outright (5)                                  583,672        +   2,812        +  57,230
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          583,672        +   2,812        +  57,230
       Total loans and securities                              602,774        -  12,693        +  61,220
                          
Items in process of collection                    (1,132)        8,527        -      60        -     384
Bank premises                                                    1,514        +       2        +      15
Other assets (6)                                                37,644        +     369        +   1,589
                TOTAL ASSETS                      (1,132)      664,674        -  12,392        +  62,299
                          
                LIABILITIES
Federal Reserve notes                                          616,279        +   2,255        +  55,767
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       16,169        -  14,785        +   4,929
  U.S. Treasury--general account                                 5,452        +   1,129        +   1,025
  Foreign--official accounts                                        82        -      10        -       7
    Other                                             (3)          251        +      39        -     104
      Total deposits                                  (3)       21,955        -  13,627        +   5,845
Deferred availability cash items                  (1,129)        7,686        -     906        -     381
Other liabilities and accrued dividends (7)                      2,415        +      42        -   1,046
                TOTAL LIABILITIES                 (1,132)      648,335        -  12,236        +  60,184
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  8,101        +      45        +   1,056
Surplus                                                          7,303        +       3        +     824
Other capital accounts                                             936        -     203        +     235

*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 $      6,591 million of inflation-indexed securities valued at the original face amount and 
   $        643 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 
   $        446 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,638 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $        370 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,        May 8, 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              14       27,663   +   5,142            0           0       14,000           0
16 days to 90 days          78      125,948   +   3,210            0           0        5,000           0
91 days to 1 year            0      133,193   -   5,555            0           0     ------      ------
Over 1 to 5 years                   161,355   +       2           10           0     ------      ------
Over 5 to 10 years                   54,005   +       6            0           0     ------      ------
Over 10 years                        81,509   +       7            0           0     ------      ------
                   		 	
Total                       92      583,672   +   2,812           10           0       19,000           0

1  Includes $     11,602 million of inflation-indexed securities valued at the original face amount and 
   $      1,089 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 8, 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                      11,044        533      4,369        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                                             973         55         52         51         50        130         88        123         55         38         69        125        137
                       
Loans                                             92          7          0          0          0          0          0         32          6         37          9          0          2
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          19,000          0     19,000          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                     194,812     11,162     76,651      7,491     10,749     15,194     13,871     22,926      6,927      3,045      5,759      4,324     16,714
                   Notes (3)                 283,545     16,246    111,564     10,903     15,645     22,114     20,190     33,368     10,082      4,433      8,382      6,293     24,327
                   Bonds (4)                 105,315      6,034     41,437      4,050      5,811      8,214      7,499     12,393      3,745      1,646      3,113      2,337      9,036
     Total bought outright(5)                583,672     33,441    229,652     22,444     32,204     45,522     41,560     68,687     20,754      9,124     17,253     12,954     50,077
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             583,672     33,441    229,652     22,444     32,204     45,522     41,560     68,687     20,754      9,124     17,253     12,954     50,077
       Total loans and securities            602,774     33,448    248,656     22,444     32,205     45,523     41,560     68,720     20,760      9,161     17,262     12,954     50,079
                       
Items in process of collection                 9,659        293      1,158        403        490        615        838        789        631        610        647        454      2,731
Bank premises                                  1,514         92        181         49        152        131        280        108         43        123         49        136        171
Other assets(6)                               37,644      1,978     13,366      1,254      2,484      5,267      2,540      3,907      1,022        642        998        831      3,355
Interdistrict settlement account                   0    - 2,619    + 3,565    - 2,512    - 3,743    +   799    +   770    - 3,178    - 1,310    + 4,524    -   452    + 7,936    - 3,780
          TOTAL ASSETS                       665,806     33,894    272,222     22,202     32,264     53,431     47,169     71,761     21,619     15,307     18,948     23,018     53,973

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 $      6,591 million of inflation-indexed securities valued at the original face amount and  $        643 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  $        446 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,638 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $        370 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 8, 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                         616,279     30,577    258,134     20,625     29,064     46,955     43,904     66,062     20,237     13,747     17,396     21,564     48,013
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      16,169      1,659      3,196        517      1,274      1,263      1,147      3,149        601        562        656        608      1,538
  U.S. Treasury--general account                5,452          0      5,452          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       82          2         58          1          3          7          2          3          1          1          1          1          3
  Other                                           255         11        134          0          0        101          0          1          2          0          1          4          0
    Total deposits                             21,958      1,672      8,840        518      1,277      1,371      1,149      3,153        604        563        658        612      1,542
Deferred credit items                           8,815        620        961        492        360        679        907        638        265        500        404        410      2,576
Other liabilities and accrued                 
  dividends (2)                                 2,415        146        741        107        143        251        196        259        106         80         96         92        197
    TOTAL LIABILITIES                         649,466     33,016    268,677     21,742     30,844     49,256     46,156     70,112     21,212     14,890     18,555     22,678     52,327
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 8,101        430      1,682        223        722      2,114        451        801        205        306        191        167        808
Surplus                                         7,303        418      1,504        221        665      1,757        535        793        149        110        191        164        796
Other capital accounts                            936         29        358         16         33        303         27         55         53          0         11          9         42
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              665,806     33,894    272,222     22,202     32,264     53,431     47,169     71,761     21,619     15,307     18,948     23,018     53,973
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        749,316     35,167    299,965     27,460     33,825     57,114     61,487     72,841     23,773     15,946     21,224     33,975     66,537
  Less--Held by F.R. Banks                    133,037      4,590     41,832      6,835      4,761     10,159     17,584      6,779      3,536      2,198      3,829     12,411     18,524
  F.R. notes, net                             616,279     30,577    258,134     20,625     29,064     46,955     43,904     66,062     20,237     13,747     17,396     21,564     48,013
Collateral held against F.R. notes            
   Gold certificate account                    11,044
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                          353
   U.S. govt. and agency securities(3)        602,682
     Total collateral                         616,279

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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