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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 13, 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 12, 2001  Dec 5, 2001 Dec 13, 2000 Dec 12, 2001

Reserve Bank Credit                                         619,750    -   3,014    +  46,875      633,977
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    551,513    +   1,073    +  37,798      553,524
    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)                      31,500    -   3,071    +   8,879       42,500
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            43    +      35    +      39           83
    Seasonal credit                                              34            0    -      90           35
    Extended credit                                               0            0            0            0
   Float                                                        389    -   1,304    -   1,313        1,360
   Other F.R. assets                                         36,262    +     255    +   1,683       36,465
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0    -   1,000        2,200
Treasury currency outstanding                                33,153    +      14    +   1,660       33,153
        Total factors supplying reserve funds               666,149    -   2,999    +  47,535      680,375
                                                                   
Currency in circulation*                                    627,038    +   1,565    +  46,852      629,822
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         441    +       6    +      37          443
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,008    -     492    -     374        4,592
  Foreign                                                       154    -     240    +      79          294
  Service-related balances and adjustments (5)                8,756    +     224    +   1,776        8,756
  Other                                                         240    -       5    -       4          216
Other F.R. liabilities and capital                           17,885    -     163    -     622       17,764
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             659,521    +     894    +  47,743      661,886

Reserve balances with F.R. Banks  (6)                         6,628    -   3,893    -     208       18,489
                                                                
On  December 12, 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 $    733,487 million, a change of $  -     546 million for the week. The total includes
$    603,406 million of U.S. government securities and $    130,081 million of federal agency securities. The total includes the face value of
U.S. Treasury strips and other zero coupon bonds.
1  Face value of the securities.
2  Net of $     20,225 million (daily average over statement week) and $     18,344 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,461 million (daily average)
   and $     18,344 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      4,000 million (daily average) and $      6,171 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 
   $        943 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 $      8,247 million and adjustments of $        509 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 12, 2001      Dec 5, 2001     Dec 13, 2000
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0        -   1,000
Coin                                                             1,070        +      21        +     122
Loans                                                              118        +      79        -      15
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           42,500        +  14,500        +  15,240
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       186,591        +     774        +   3,385
                   Notes (3)                                   263,846        -       5        +  24,719
                   Bonds (4)                                   103,087        -       3        +  10,304
    Total bought outright (5)                                  553,524        +     766        +  38,409
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          553,524        +     766        +  38,409
       Total loans and securities                              596,152        +  15,345        +  53,513
                          
Items in process of collection                      (796)       10,069        -     708        -   1,979
Bank premises                                                    1,518        -       2        +      76
Other assets (6)                                                34,936        +     228        +   1,605
                TOTAL ASSETS                        (796)      656,989        +  14,884        +  52,335
                          
                LIABILITIES
Federal Reserve notes                                          598,181        +   2,987        +  45,764
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       27,731        +  12,878        +   6,914
  U.S. Treasury--general account                                 4,592        -     196        -     355
  Foreign--official accounts                                       294        +     208        +     222
    Other                                            (30)          216        -      27        -      32
      Total deposits                                 (30)       32,834        +  12,864        +   6,750
Deferred availability cash items                    (766)        8,210        -   1,015        +     458
Other liabilities and accrued dividends (7)                      2,664        -      17        -   1,958
                TOTAL LIABILITIES                   (796)      641,889        +  14,819        +  51,013
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,365        +       8        +     262
Surplus                                                          6,728        -       2        +   4,049
Other capital accounts                                           1,007        +      58        -   2,988

*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 
   $        578 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 
   $        365 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,344 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      6,171 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 12, 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              94       15,940   +     862            0           0       31,500           0
16 days to 90 days          24      124,812   -     393            0           0       11,000           0
91 days to 1 year            0      129,591   +     305            0           0     ------      ------
Over 1 to 5 years                   151,093           0           10           0     ------      ------
Over 5 to 10 years                   53,247   -       4            0           0     ------      ------
Over 10 years                        78,842   -       3            0           0     ------      ------
                   		 	
Total                      118      553,524   +     766           10           0       42,500           0

1  Includes $      9,711 million of inflation-indexed securities valued at the original face amount and 
   $        943 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 12, 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                                           1,070         53         66         39         65        171        121        120         59         34         72        129        140
                       
Loans                                            118          3         75          1          1          0          3         11          3          4          8          0          8
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          42,500          0     42,500          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                     186,591     11,211     76,434      7,664     10,924     11,147     12,831     21,133      6,725        582      5,759      3,383     18,799
                   Notes (3)                 263,846     15,852    108,080     10,837     15,447     15,762     18,143     29,883      9,510        823      8,144      4,783     26,582
                   Bonds (4)                 103,087      6,194     42,228      4,234      6,035      6,158      7,089     11,675      3,716        322      3,182      1,869     10,386
     Total bought outright(5)                553,524     33,257    226,742     22,735     32,406     33,068     38,062     62,691     19,951      1,727     17,085     10,034     55,766
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             553,524     33,257    226,742     22,735     32,406     33,068     38,062     62,691     19,951      1,727     17,085     10,034     55,766
       Total loans and securities            596,152     33,260    269,321     22,737     32,407     33,068     38,066     62,703     19,954      1,731     17,093     10,035     55,775
                       
Items in process of collection                10,865        629        939        485        348        949      1,585        747        473        638        605        780      2,687
Bank premises                                  1,518         92        177         49        152        133        286        107         42        123         49        137        172
Other assets(6)                               34,936      1,796     12,685      1,275      2,059      4,771      2,295      3,287        928        664        943        781      3,451
Interdistrict settlement account                   0    - 2,716    -23,321    - 1,744    -    80    +12,270    + 4,575    + 5,172    +   730    +11,970    -   533    + 2,290    - 8,612
          TOTAL ASSETS                       657,785     33,776    265,191     23,378     35,594     52,250     47,964     73,378     22,600     15,334     18,612     14,725     54,983

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  $        578 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  $        365 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,344 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      6,171 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 12, 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                         598,181     31,190    247,667     21,763     30,591     43,871     44,139     67,745     21,048     13,206     16,692     13,098     47,170
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      27,731        957      7,503        488      3,116      3,743      1,606      3,134        852      1,249      1,051        757      3,274
  U.S. Treasury--general account                4,592          0      4,592          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      294          2        270          1          2          7          2          3          1          1          1          1          3
  Other                                           246          1        136          1          2         59          0          1          1          2         42          1          1
    Total deposits                             32,863        960     12,502        490      3,120      3,809      1,608      3,138        854      1,252      1,094        760      3,278
Deferred credit items                           8,977        599        963        536        369        807        903        616        272        531        326        418      2,636
Other liabilities and accrued                 
  dividends (2)                                 2,664        165        847        122        160        242        224        279        114         67        108         93        244
    TOTAL LIABILITIES                         642,685     32,914    261,979     22,912     34,241     48,730     46,874     71,778     22,287     15,056     18,220     14,368     53,328
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,365        418      1,504        221        665      1,756        535        776        149        180        191        163        807
Surplus                                         6,728        358      1,468        228        472      1,679        495        632        138         99        179        188        792
Other capital accounts                          1,007         85        240         17        217         85         60        193         27          0         22          5         55
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              657,785     33,776    265,191     23,378     35,594     52,250     47,964     73,378     22,600     15,334     18,612     14,725     54,983
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        751,210     36,122    292,143     28,636     35,406     55,523     64,442     75,469     24,145     15,469     21,271     32,943     69,641
  Less--Held by F.R. Banks                    153,029      4,932     44,475      6,873      4,815     11,651     20,303      7,724      3,098      2,263      4,579     19,846     22,471
  F.R. notes, net                             598,181     31,190    247,667     21,763     30,591     43,871     44,139     67,745     21,048     13,206     16,692     13,098     47,170
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)        584,936
     Total collateral                         598,181

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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