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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
                                                                                           January 10, 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      Jan 9, 2002  Jan 2, 2002 Jan 10, 2001  Jan 9, 2002

Reserve Bank Credit                                         631,596    -  11,205    +  53,246      633,428
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    556,350    +   2,506    +  42,238      557,614
    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)                      36,929    -  13,785    +   9,813       37,500
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                           155    +     145    +      70        1,005
    Seasonal credit                                              12    -      19    -      24            8
    Extended credit                                               0            0            0            0
   Float                                                        933    -     198    +     181          -80
   Other F.R. assets                                         37,208    +     148    +   1,089       37,371
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,209    +      14    +   1,464       33,209
        Total factors supplying reserve funds               678,050    -  11,191    +  54,709      679,883
                                                                   
Currency in circulation*                                    639,058    -   4,164    +  50,547      636,394
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         428    +       2    -      26          435
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,053    -     929    +     258        5,107
  Foreign                                                       104    -      26    -       4           81
  Service-related balances and adjustments (5)                8,869    -     219    +   1,913        8,869
  Other                                                         187    -     215    +       8          184
Other F.R. liabilities and capital                           17,446    +      36    -     536       17,409
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             671,145    -   5,515    +  52,160      668,478

Reserve balances with F.R. Banks  (6)                         6,904    -   5,678    +   2,548       11,405
                                                                
On    January 9, 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 $    729,156 million, a change of $  -   3,486 million for the week. The total includes
$    596,825 million of U.S. government securities and $    132,331 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 $     19,589 million (daily average over statement week) and $     19,184 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     19,589 million (daily average)
   and $     19,184 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      4,604 million (daily average) and $      2,478 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 
   $        955 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 $      8,552 million and adjustments of $        317 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
                                                            Jan 9, 2002      Jan 2, 2002     Jan 10, 2001
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,053        +      17        +      98
Loans                                                            1,013        +     981        +     981
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           37,500        -  12,000        +   9,625
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       186,221        +     975        +   2,856
                   Notes (3)                                   267,736        +   1,796        +  28,544
                   Bonds (4)                                   103,658        -       2        +  10,737
    Total bought outright (5)                                  557,614        +   2,769        +  42,136
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          557,614        +   2,769        +  42,136
       Total loans and securities                              596,138        -   8,249        +  52,622
                          
Items in process of collection                    (1,173)        9,080        +   1,617        +     932
Bank premises                                                    1,511                0        +      49
Other assets (6)                                                35,973        +     473        +   1,109
                TOTAL ASSETS                      (1,173)      657,000        -   6,141        +  54,810
                          
                LIABILITIES
Federal Reserve notes                                          604,673        -   7,206        +  48,920
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       21,572        +   1,172        +   6,694
  U.S. Treasury--general account                                 5,107        -   2,293        -      53
  Foreign--official accounts                                        81        -      15        -      41
    Other                                             (0)          184        -      41        +      10
      Total deposits                                  (0)       26,943        -   1,179        +   6,609
Deferred availability cash items                  (1,173)        7,975        +   2,054        -     143
Other liabilities and accrued dividends (7)                      2,362        -      14        -   1,777
                TOTAL LIABILITIES                 (1,173)      641,953        -   6,345        +  53,608
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,419        +      45        +     420
Surplus                                                          7,272        -      11        +   1,083
Other capital accounts                                             356        +     170        -     302

*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 
   $        563 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 
   $        392 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     19,184 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,478 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,    January 9, 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           1,008       16,267   +   1,586            0           0       31,500           0
16 days to 90 days           5      122,280   -   1,443            0           0        6,000           0
91 days to 1 year            0      131,458   +     831            0           0     ------      ------
Over 1 to 5 years                   154,956   +   1,798           10           0     ------      ------
Over 5 to 10 years                   53,336   -       2            0           0     ------      ------
Over 10 years                        79,317   -       2            0           0     ------      ------
                   		 	
Total                    1,013      557,614   +   2,769           10           0       37,500           0

1  Includes $     10,186 million of inflation-indexed securities valued at the original face amount and 
   $        955 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    January 9, 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                      11,045        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                                           1,053         55         60         45         58        165        120        118         59         32         68        131        142
                       
Loans                                          1,013          0          0          0        860          0        140          8          4          1          0          0          0
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          37,500          0     37,500          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                     186,221     11,189     76,282      7,649     10,902     11,125     12,805     21,091      6,712        581      5,748      3,376     18,761
                   Notes (3)                 267,736     16,086    109,673     10,997     15,675     15,995     18,410     30,323      9,650        835      8,264      4,854     26,974
                   Bonds (4)                 103,658      6,228     42,462      4,258      6,069      6,193      7,128     11,740      3,736        323      3,199      1,879     10,443
     Total bought outright(5)                557,614     33,503    228,417     22,903     32,645     33,312     38,343     63,154     20,098      1,740     17,211     10,109     56,178
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             557,614     33,503    228,417     22,903     32,645     33,312     38,343     63,154     20,098      1,740     17,211     10,109     56,178
       Total loans and securities            596,138     33,503    265,921     22,904     33,506     33,313     38,484     63,163     20,103      1,740     17,211     10,109     56,179
                       
Items in process of collection                10,253        637      1,179        496        432        877      1,040        758        572        738        591        571      2,363
Bank premises                                  1,511         91        177         49        151        132        281        105         43        123         49        137        171
Other assets(6)                               35,973      1,858     13,148      1,313      2,112      4,778      2,365      3,477        968        655        971        792      3,536
Interdistrict settlement account                   0    - 2,711    -14,862    - 2,646    - 2,084    +10,137    + 4,417    + 3,851    +   285    +12,461    -   776    + 2,338    -10,410
          TOTAL ASSETS                       658,173     34,095    270,948     22,698     34,818     50,289     47,745     72,712     22,444     15,922     18,497     14,653     53,352

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  $        563 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  $        392 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     19,184 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,478 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    January 9, 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                         604,673     31,594    253,175     21,203     30,294     44,585     44,326     67,618     21,160     13,958     16,673     13,085     47,002
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      21,572        847      7,366        402      2,693      1,120      1,319      2,570        583        850        858        734      2,229
  U.S. Treasury--general account                5,107          0      5,107          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       81          2         57          1          2          7          2          3          1          1          1          1          3
  Other                                           184          1        135          0          0         37          2          1          0          0          4          1          1
    Total deposits                             26,943        850     12,665        404      2,696      1,164      1,323      2,574        584        851        863        736      2,233
Deferred credit items                           9,148        646      1,160        523        344        826        892        640        280        660        471        417      2,290
Other liabilities and accrued                 
  dividends (2)                                 2,362        147        764        111        136        203        196        255        107         60         98         84        201
    TOTAL LIABILITIES                         643,126     33,237    267,763     22,241     33,470     46,779     46,736     71,086     22,131     15,529     18,104     14,323     51,726
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,419        419      1,503        221        665      1,758        451        793        149        309        191        164        795
Surplus                                         7,272        418      1,504        221        665      1,752        535        793        149         84        191        164        796
Other capital accounts                            356         22        177         14         19          0         23         39         15          0         11          2         35
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              658,173     34,095    270,948     22,698     34,818     50,289     47,745     72,712     22,444     15,922     18,497     14,653     53,352
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        750,317     35,897    294,381     28,243     35,015     55,249     64,002     74,658     23,998     16,073     21,038     32,834     68,929
  Less--Held by F.R. Banks                    145,644      4,303     41,207      7,039      4,721     10,663     19,676      7,040      2,837      2,115      4,366     19,749     21,928
  F.R. notes, net                             604,673     31,594    253,175     21,203     30,294     44,585     44,326     67,618     21,160     13,958     16,673     13,085     47,002
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)        591,428
     Total collateral                         604,673

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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