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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 6, 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 5, 2001 Nov 28, 2001  Dec 6, 2000  Dec 5, 2001

Reserve Bank Credit                                         622,763    +   1,650    +  50,872      617,949
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    550,440    +     946    +  37,173      552,758
    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)                      34,571    -     672    +  10,894       28,000
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             8    -       1    -      61            2
    Seasonal credit                                              34    +       1    -      87           36
    Extended credit                                               0            0            0            0
   Float                                                      1,692    +   1,008    +   1,172        1,014
   Other F.R. assets                                         36,007    +     367    +   1,900       36,128
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0    -   1,000        2,200
Treasury currency outstanding                                33,139    +      26    +   1,738       33,139
        Total factors supplying reserve funds               669,147    +   1,676    +  51,610      664,333
                                                                   
Currency in circulation*                                    625,473    -     759    +  46,195      626,844
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         435    +       6    +      82          441
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,500    +     426    +     225        4,788
  Foreign                                                       394    +      67    +     313           86
  Service-related balances and adjustments (5)                8,532    +     374    +   1,926        8,532
  Other                                                         245    -      18    -      18          243
Other F.R. liabilities and capital                           18,048    +     233    -     224       17,716
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             658,627    +     329    +  48,499      658,650

Reserve balances with F.R. Banks  (6)                        10,520    +   1,346    +   3,111        5,683
                                                                
On   December 5, 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 $    734,033 million, a change of $  -   3,318 million for the week. The total includes
$    603,298 million of U.S. government securities and $    130,736 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 $     19,766 million (daily average over statement week) and $     18,889 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     19,766 million (daily average)
   and $     18,889 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      4,244 million (daily average) and $      3,862 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      9,711 million of inflation-indexed securities valued at the original face amount and 
   $        951 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 $      8,248 million and adjustments of $        285 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 5, 2001     Nov 28, 2001      Dec 6, 2000
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0        -   1,000
Coin                                                             1,049        +       3        +     135
Loans                                                               39        +       4        -      95
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           28,000        -  11,350        +   5,475
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       185,817        +     518        +   2,433
                   Notes (3)                                   263,851        +   1,475        +  26,823
                   Bonds (4)                                   103,090                0        +  10,402
    Total bought outright (5)                                  552,758        +   1,993        +  39,658
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          552,758        +   1,993        +  39,658
       Total loans and securities                              580,807        -   9,354        +  44,918
                          
Items in process of collection                      (986)       10,777        +   2,740        +   1,399
Bank premises                                                    1,520        +       1        +      79
Other assets (6)                                                34,708        -      71        +   1,911
                TOTAL ASSETS                        (986)      642,105        -   6,682        +  47,440
                          
                LIABILITIES
Federal Reserve notes                                          595,194        -      26        +  44,899
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       14,853        -   8,430        +   2,698
  U.S. Treasury--general account                                 4,788        +     475        -     427
  Foreign--official accounts                                        86        -     265        -       3
    Other                                             (0)          243        -      29        -       1
      Total deposits                                  (0)       19,970        -   8,249        +   2,268
Deferred availability cash items                    (986)        9,225        +   1,735        +     631
Other liabilities and accrued dividends (7)                      2,681        -       6        -   1,716
                TOTAL LIABILITIES                   (986)      627,070        -   6,546        +  46,082
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,357        -      13        +     269
Surplus                                                          6,730        -       3        +   4,051
Other capital accounts                                             949        -     120        -   2,961

*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 $      5,739 million of inflation-indexed securities valued at the original face amount and 
   $        583 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      3,972 million of inflation-indexed securities valued at the original face amount and 
   $        368 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,889 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      3,862 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 5, 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              17       15,078   -   8,869            0           0       18,000           0
16 days to 90 days          22      125,205   +  11,896            0           0       10,000           0
91 days to 1 year            0      129,286   -   1,037            0           0     ------      ------
Over 1 to 5 years                   151,093   +       2           10           0     ------      ------
Over 5 to 10 years                   53,251           0            0           0     ------      ------
Over 10 years                        78,845           0            0           0     ------      ------
                   		 	
Total                       39      552,758   +   1,993           10           0       28,000           0

1  Includes $      9,711 million of inflation-indexed securities valued at the original face amount and 
   $        951 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 5, 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                                           1,049         53         67         40         63        173        112        119         57         33         67        127        137
                       
Loans                                             39          2          0          0          0          0          4         10          4          3         10          1          4
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          28,000          0     28,000          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                     185,817     11,164     76,117      7,632     10,879     11,101     12,777     21,045      6,697        580      5,735      3,369     18,721
                   Notes (3)                 263,851     15,853    108,082     10,837     15,447     15,763     18,143     29,883      9,510        823      8,144      4,783     26,582
                   Bonds (4)                 103,090      6,194     42,229      4,234      6,035      6,159      7,089     11,676      3,716        322      3,182      1,869     10,386
     Total bought outright(5)                552,758     33,211    226,428     22,704     32,361     33,022     38,009     62,604     19,923      1,725     17,061     10,021     55,689
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             552,758     33,211    226,428     22,704     32,361     33,022     38,009     62,604     19,923      1,725     17,061     10,021     55,689
       Total loans and securities            580,807     33,213    254,432     22,704     32,362     33,023     38,014     62,616     19,928      1,728     17,071     10,022     55,694
                       
Items in process of collection                11,763        841      1,223        497        517        754      1,177        732        689        637        735        808      3,152
Bank premises                                  1,520         92        177         49        152        133        285        111         42        123         49        136        172
Other assets(6)                               34,708      1,772     12,516      1,262      2,066      4,790      2,271      3,331        919        661        930        775      3,417
Interdistrict settlement account                   0    - 3,199    -15,440    - 1,695    - 2,102    +10,552    + 4,138    + 4,948    +   531    +10,764    -   924    + 2,472    -10,046
          TOTAL ASSETS                       643,091     33,434    258,300     23,394     33,699     50,312     47,034     73,097     22,578     14,120     18,311     14,916     53,896

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 $      5,739 million of inflation-indexed securities valued at the original face amount and  $        583 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      3,972 million of inflation-indexed securities valued at the original face amount and  $        368 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,889 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      3,862 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 5, 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                         595,194     31,053    245,534     21,819     30,360     43,690     43,339     68,011     21,150     12,704     16,670     13,408     47,455
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      14,853        729      2,467        453      1,377      1,896      1,385      2,469        734        464        563        612      1,704
  U.S. Treasury--general account                4,788          0      4,788          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       86          2         62          1          2          7          2          3          1          1          1          1          3
  Other                                           243          1        134          0          0         87          1          3          1          2         13          1          1
    Total deposits                             19,970        731      7,451        454      1,380      1,990      1,388      2,475        735        466        577        614      1,708
Deferred credit items                          10,210        623      1,260        536        462        876        985        733        267        606        567        447      2,849
Other liabilities and accrued                 
  dividends (2)                                 2,681        164        854        121        166        249        222        283        113         63        106         92        248
    TOTAL LIABILITIES                         628,055     32,572    255,098     22,930     32,368     46,805     45,933     71,502     22,265     13,840     17,920     14,561     52,261
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,357        418      1,503        222        665      1,756        531        775        149        180        190        163        805
Surplus                                         6,730        358      1,468        228        472      1,679        495        632        138        101        179        188        792
Other capital accounts                            949         85        232         15        194         72         75        188         26          0         21          4         38
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              643,091     33,434    258,300     23,394     33,699     50,312     47,034     73,097     22,578     14,120     18,311     14,916     53,896
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        748,513     35,998    289,503     28,691     35,433     55,574     64,616     75,608     24,045     14,990     21,147     33,068     69,839
  Less--Held by F.R. Banks                    153,318      4,945     43,969      6,872      5,073     11,884     21,278      7,597      2,895      2,285      4,477     19,659     22,384
  F.R. notes, net                             595,194     31,053    245,534     21,819     30,360     43,690     43,339     68,011     21,150     12,704     16,670     13,408     47,455
Collateral held against F.R. notes            
   Gold certificate account                    11,045
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                        1,181
   U.S. govt. and agency securities(3)        580,768
     Total collateral                         595,194

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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