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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
                                                                                          December 27, 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     Dec 26, 2001 Dec 19, 2001 Dec 27, 2000 Dec 26, 2001

Reserve Bank Credit                                         633,771    +   6,420    +  49,457      643,503
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    555,865    +   1,634    +  40,270      555,997
    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)                      41,743    +   5,150    +   9,984       50,250
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            36    +      24    -       5           13
    Seasonal credit                                              36    +       1    -      76           32
    Extended credit                                               0            0            0            0
   Float                                                        171    -     561    -   1,011        1,168
   Other F.R. assets                                         35,911    +     173    +     417       36,034
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,181    +      14    +   1,588       33,181
        Total factors supplying reserve funds               680,197    +   6,433    +  51,045      689,929
                                                                   
Currency in circulation*                                    638,670    +   8,074    +  48,867      642,190
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         425    -      15    +       9          425
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,645    -   1,219    +     305        4,856
  Foreign                                                       344    +      54    +     241          233
  Service-related balances and adjustments (5)                8,973    -     163    +   1,736        8,973
  Other                                                         207    -      14    -      51          223
Other F.R. liabilities and capital                           17,756    -     210    -     661       17,429
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             671,021    +   6,507    +  50,447      674,331

Reserve balances with F.R. Banks  (6)                         9,176    -      73    +     598       15,598
                                                                
On  December 26, 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 $    732,886 million, a change of $  -     947 million for the week. The total includes
$    600,096 million of U.S. government securities and $    132,790 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 $     18,990 million (daily average over statement week) and $     18,854 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,990 million (daily average)
   and $     18,854 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      4,455 million (daily average) and $      5,378 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 
   $        967 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 $      8,584 million and adjustments of $        390 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
                                                           Dec 26, 2001     Dec 19, 2001     Dec 27, 2000
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,066        -      13        +     120
Loans                                                               45        +       1        -      72
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           50,250        +  12,550        +   6,265
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       186,389        -      95        +   3,859
                   Notes (3)                                   265,944        +      24        +  25,768
                   Bonds (4)                                   103,663        +     484        +  10,879
    Total bought outright (5)                                  555,997        +     413        +  40,506
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          555,997        +     413        +  40,506
       Total loans and securities                              606,301        +  12,963        +  46,578
                          
Items in process of collection                      (341)        5,222        -   3,879        -   4,865
Bank premises                                                    1,519        +       1        +      64
Other assets (6)                                                35,593        +      66        +   1,325
                TOTAL ASSETS                        (341)      662,945        +   9,138        +  43,221
                          
                LIABILITIES
Federal Reserve notes                                          610,501        +   7,565        +  47,341
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       25,771        +   8,999        +     984
  U.S. Treasury--general account                                 4,856        -   2,318        -     464
  Foreign--official accounts                                       233        -     389        +     150
    Other                                             (0)          223        +      15        -      12
      Total deposits                                  (0)       31,084        +   6,309        +     658
Deferred availability cash items                    (341)        3,932        -   4,466        -   4,145
Other liabilities and accrued dividends (7)                      2,594        -      11        -   1,747
                TOTAL LIABILITIES                   (341)      648,111        +   9,397        +  42,108
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,357        +       2        +     333
Surplus                                                          6,712        -      13        +   4,033
Other capital accounts                                             765        -     247        -   3,253

*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 
   $        570 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 
   $        397 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,854 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      5,378 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,  December 26, 2001



Millions of dollars
                                    U.S. government         Federal agency                      Reverse
                     Loans          securities (1,2)        obligations(2)        Repurchase   Repurchase
                                              Weekly                  Weekly      Agreements   Agreements
                                  Holdings    changes      Holdings    changes    Triparty(3)  Triparty(3)
Within 15 days              41       22,044   +     639            0           0       38,250           0
16 days to 90 days           3      117,382   -   1,280            0           0       12,000           0
91 days to 1 year            0      132,180   +     545            0           0     ------      ------
Over 1 to 5 years                   151,727           0           10           0     ------      ------
Over 5 to 10 years                   53,341   +      24            0           0     ------      ------
Over 10 years                        79,322   +     484            0           0     ------      ------
                   		 	
Total                       45      555,997   +     413           10           0       50,250           0

1  Includes $     10,186 million of inflation-indexed securities valued at the original face amount and 
   $        967 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  December 26, 2001
Millions of dollars
                                                                                                                                                            Kansas                 San
                                               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco
         ASSETS                        
Gold certificate account                      11,045        546      4,451        454        538        741        871      1,028        343        143        317        477      1,136
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,066         55         65         42         62        167        119        119         59         32         71        129        144
                       
Loans                                             45          1          0          1          0          1          7         17          3          3          7          0          4
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          50,250          0     50,250          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)      
  Bought outright                                 10          1          4          0          1          1          1          1          0          0          0          0          1
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
U.S. government securities(2)         
  Bought outright--Bills                     186,389     11,199     76,351      7,656     10,912     11,135     12,817     21,110      6,718        582      5,753      3,379     18,778
                   Notes (3)                 265,944     15,978    108,940     10,923     15,570     15,888     18,287     30,120      9,585        830      8,208      4,821     26,793
                   Bonds (4)                 103,663      6,228     42,464      4,258      6,069      6,193      7,128     11,741      3,736        323      3,200      1,879     10,444
     Total bought outright(5)                555,997     33,405    227,755     22,837     32,551     33,215     38,232     62,971     20,040      1,735     17,161     10,079     56,015
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             555,997     33,405    227,755     22,837     32,551     33,215     38,232     62,971     20,040      1,735     17,161     10,079     56,015
       Total loans and securities            606,301     33,407    278,009     22,839     32,551     33,217     38,239     62,990     20,044      1,738     17,168     10,079     56,021
                       
Items in process of collection                 5,563        203        421        804        130        255        344        313        361        579        263        275      1,615
Bank premises                                  1,519         92        178         49        152        132        285        105         44        123         49        138        172
Other assets(6)                               35,593      1,840     13,023      1,304      2,094      4,755      2,338      3,375        956        653        961        785      3,509
Interdistrict settlement account                   0    -   115    -29,298    - 1,599    - 1,597    +12,624    + 6,693    + 5,151    +   748    +12,479    -   348    + 3,581    - 8,320
          TOTAL ASSETS                       663,286     36,143    267,723     23,976     34,034     52,039     49,055     73,292     22,625     15,777     18,547     15,563     54,511

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  $        570 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  $        397 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,854 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      5,378 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  December 26, 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                         610,501     31,778    251,598     22,001     30,775     44,955     45,923     68,375     21,398     13,987     17,014     14,071     48,623
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      25,771      3,166      6,413      1,076      1,584      3,092      1,729      2,783        699        958        850        844      2,578
  U.S. Treasury--general account                4,856          0      4,856          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      233          2        210          1          2          7          2          3          1          1          1          1          3
  Other                                           224          1        157          2          2         49          2          4          1          0          1          2          2
    Total deposits                             31,084      3,169     11,635      1,079      1,588      3,149      1,733      2,790        700        960        852        847      2,583
Deferred credit items                           4,273        182        515        323        180        220        106        282        107        502        189        205      1,463
Other liabilities and accrued                 
  dividends (2)                                 2,594        167        816        116        157        241        217        272        113         65        106         88        237
    TOTAL LIABILITIES                         648,452     35,295    264,564     23,519     32,699     48,564     47,980     71,720     22,318     15,514     18,161     15,211     52,906
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,357        418      1,504        221        665      1,757        534        775        149        180        191        163        799
Surplus                                         6,712        358      1,468        228        472      1,679        495        632        138         84        179        188        792
Other capital accounts                            765         71        187          8        198         39         46        166         19          0         17          0         14
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              663,286     36,143    267,723     23,976     34,034     52,039     49,055     73,292     22,625     15,777     18,547     15,563     54,511
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        752,553     35,869    294,277     28,432     35,130     55,445     64,554     74,953     24,053     16,052     21,134     33,146     69,508
  Less--Held by F.R. Banks                    142,053      4,091     42,678      6,431      4,355     10,490     18,631      6,577      2,655      2,064      4,121     19,075     20,885
  F.R. notes, net                             610,501     31,778    251,598     22,001     30,775     44,955     45,923     68,375     21,398     13,987     17,014     14,071     48,623
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)        597,256
     Total collateral                         610,501

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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