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`For Release at 
4:30 P.M. Eastern time 
December 5, 2002



The H.4.1 Statistical Release ("Factors Affecting Reserve Balances of Depository 
Institutions and Condition Statement of Federal Reserve Banks") for November 29, 2002
contained an error on page 4.  In the section titled "Federal Reserve Agents' Accounts,"
the total amount of collateral pledged against Federal Reserve notes, as well as amounts 
provided by U.S. government and federal agency securities and other eligible assets, were
incorrect and erroneously indicated insufficient collateral.  In fact, an adequate volume
of securities was available as collateral against Federal Reserve notes.  All other data
items on the original release were correct.  A corrected version of the November 29
release is posted on this website.




FEDERAL RESERVE
These data are scheduled for release each Thursday.

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           December 5, 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      Dec 4, 2002 Nov 27, 2002  Dec 5, 2001  Dec 4, 2002

Reserve Bank Credit                                         672,629    +   3,602    +  49,896      666,894
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    609,586    +     351    +  59,146      610,876
    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)                      25,857    +   2,821    -   8,714       18,000
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             2    -       1    -       6            2
    Seasonal credit                                              54            0    +      20           49
    Extended credit                                               0            0            0            0
   Float                                                        274    +     255    -   1,389        1,090
   Other F.R. assets                                         36,846    +     175    +     840       36,866
Gold stock                                                   11,042            0    -       3       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                34,441    +      14    +   1,468       34,441
        Total factors supplying reserve funds               720,312    +   3,616    +  51,361      714,578
                                                                   
Currency in circulation*                                    674,514    +   4,602    +  49,207      675,369
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         377    -       7    -      58          377
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,664    -     352    -     836        3,504
  Foreign                                                       127    +       2    -     267          153
  Service-related balances and adjustments (5)               10,685    +      60    +   2,160       10,685
  Other                                                         228    +      48    -      17          207
Other F.R. liabilities and capital                           19,571    +      88    +   1,523       19,452
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             710,166    +   4,441    +  51,712      709,748

Reserve balances with F.R. Banks  (6)                        10,146    -     826    -     351        4,830
                                                                
On   December 4, 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 $    833,276 million, a change of $  +   1,987 million for the week. The total includes
$    681,438 million of U.S. government securities and $    151,837 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 $     19,238 million (daily average over statement week) and $     18,510 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     19,238 million (daily average)
   and $     18,510 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        574 million (daily average) and $          0 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $     12,242 million of inflation-indexed securities valued at the original face amount and 
   $      1,242 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 $     10,281 million and adjustments of $        404 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 4, 2002     Nov 27, 2002      Dec 5, 2001
                ASSETS
Gold certificate account                                        11,039        +       1        -       6
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,028        -      21        -      21
Loans                                                               52        -       8        +      13
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           18,000        -  11,000        -  10,000
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       208,172        +     604        +  22,355
                   Notes (3)                                   297,881        +     542        +  34,030
                   Bonds (4)                                   104,823        +     116        +   1,733
    Total bought outright (5)                                  610,876        +   1,262        +  58,118
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          610,876        +   1,262        +  58,118
       Total loans and securities                              628,938        -   9,746        +  48,131
                          
Items in process of collection                    (1,098)        9,589        +   1,471        -   1,188
Bank premises                                                    1,530                0        +      10
Other assets (6)                                                35,322                0        +     614
                TOTAL ASSETS                      (1,098)      689,645        -   8,296        +  47,540
                          
                LIABILITIES
Federal Reserve notes                                          642,328        +   1,042        +  47,134
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       15,670        -   8,302        +     817
  U.S. Treasury--general account                                 3,504        -   1,578        -   1,284
  Foreign--official accounts                                       153        -      71        +      67
    Other                                            (38)          207        +      23        -      36
      Total deposits                                 (38)       19,535        -   9,928        -     435
Deferred availability cash items                  (1,059)        8,329        +     572        -     896
Other liabilities and accrued dividends (7)                      2,425        -       2        -     256
                TOTAL LIABILITIES                 (1,098)      672,618        -   8,315        +  45,548
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  8,353        +       4        +     996
Surplus                                                          7,312                0        +     582
Other capital accounts                                           1,362        +      14        +     413

*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 $      7,168 million of inflation-indexed securities valued at the original face amount and 
   $        698 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      5,074 million of inflation-indexed securities valued at the original face amount and 
   $        545 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,510 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $          0 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 4, 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              30       21,260   -   4,386            0           0       13,000           0
16 days to 90 days          22      142,625   +   7,380            0           0        5,000           0
91 days to 1 year            0      139,936   -   2,179            0           0     ------      ------
Over 1 to 5 years                   173,934   +     129           10           0     ------      ------
Over 5 to 10 years                   53,290   +     316            0           0     ------      ------
Over 10 years                        79,831   +       2            0           0     ------      ------
                   		 	
Total                       52      610,876   +   1,262           10           0       18,000           0

1  Includes $     12,242 million of inflation-indexed securities valued at the original face amount and 
   $      1,242 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 4, 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                                           1,028         47         38         62         46        143        115        129         59         36         69        160        124
                       
Loans                                             52          0          0          1          0          0          8          2         13          8         10          4          6
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          18,000          0     18,000          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                     208,172     11,927     81,908      8,005     11,486     16,236     14,823     24,498      7,402      3,254      6,154      4,620     17,860
                   Notes (3)                 297,881     17,067    117,204     11,454     16,436     23,233     21,210     35,055     10,592      4,657      8,805      6,611     25,557
                   Bonds (4)                 104,823      6,006     41,244      4,031      5,784      8,175      7,464     12,336      3,727      1,639      3,099      2,326      8,993
     Total bought outright(5)                610,876     35,000    240,356     23,490     33,705     47,644     43,497     71,888     21,721      9,550     18,057     13,557     52,411
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             610,876     35,000    240,356     23,490     33,705     47,644     43,497     71,888     21,721      9,550     18,057     13,557     52,411
       Total loans and securities            628,938     35,000    276,360     23,492     33,706     47,645     43,506     71,891     21,735      9,558     18,068     13,561     52,418
                       
Items in process of collection                10,686        459      1,158        558        495        879        919        793        712        641        667        369      3,037
Bank premises                                  1,530         91        184         49        152        129        279        116         43        125         50        140        172
Other assets(6)                               35,322      1,833     12,363      1,114      2,386      5,275      2,357      3,598        920        604        917        811      3,145
Interdistrict settlement account                   0    - 6,712    +33,694    - 5,751    - 5,581    - 3,197    - 5,319    -14,987    - 3,690    + 3,923    - 2,783    +12,927    - 2,526
          TOTAL ASSETS                       690,742     31,367    329,035     20,036     31,830     51,839     42,948     62,833     20,196     15,095     17,361     28,550     57,651

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 $      7,168 million of inflation-indexed securities valued at the original face amount and  $        698 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      5,074 million of inflation-indexed securities valued at the original face amount and  $        545 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,510 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $          0 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 4, 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                         642,328     28,668    299,947     18,011     28,459     44,943     39,356     57,192     18,832     13,305     15,728     26,926     50,963
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      15,670      1,056      1,844        917      1,355      1,773      1,369      2,849        553        403        680        685      2,186
  U.S. Treasury--general account                3,504          0      3,504          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      153          2        129          1          3          7          2          3          1          1          1          1          3
  Other                                           246          4        136          0          0         59         39          1          1          0          1          3          1
    Total deposits                             19,574      1,062      5,614        919      1,358      1,839      1,411      2,853        554        404        682        689      2,190
Deferred credit items                           9,388        602        978        504        456        639        957        793        292        667        449        472      2,579
Other liabilities and accrued                 
  dividends (2)                                 2,425        144        741        106        143        264        194        257        105         81         93         91        204
    TOTAL LIABILITIES                         673,715     30,476    307,280     19,540     30,416     47,686     41,918     61,095     19,783     14,457     16,952     28,178     55,935
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 8,353        436      1,801        242        700      2,073        474        851        199        338        200        185        854
Surplus                                         7,312        418      1,504        221        665      1,757        535        793        149        118        191        164        796
Other capital accounts                          1,362         36        450         32         49        323         22         94         65        182         18         24         66
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              690,742     31,367    311,035     20,036     31,830     51,839     42,948     62,833     20,196     15,095     17,361     28,550     57,651
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        759,934     33,531    329,317     25,659     33,026     54,938     57,676     65,703     22,356     15,217     20,167     36,099     66,245
  Less--Held by F.R. Banks                    117,606      4,863     29,371      7,648      4,567      9,994     18,320      8,511      3,524      1,913      4,439      9,173     15,282
  F.R. notes, net                             642,328     28,668    299,947     18,011     28,459     44,943     39,356     57,192     18,832     13,305     15,728     26,926     50,963
Collateral held against F.R. notes            
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                          204
   U.S. govt. and agency securities(3)        628,886
     Total collateral                         642,328

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.`

Statistical releases

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