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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 F.R. Banks
                                                                                              July 26, 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     Jul 25, 2001 Jul 18, 2001 Jul 26, 2000 Jul 25, 2001

Reserve Bank Credit                                         595,815    +   3,938    +  37,517      610,269
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    535,822    +   1,582    +  29,529      536,392
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                              10            0    -     130           10
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      21,843    +   2,114    +   6,606       35,050
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                           156    -       8    +     144           18
    Seasonal credit                                             193    +      17    -     356          194
    Extended credit                                               0            0            0            0
   Float                                                        104    -     276    -     378          632
   Other F.R. assets                                         37,688    +     509    +   2,103       37,973
Gold stock                                                   11,044            0    -       2       11,044
Special drawing rights certificate account                    2,200            0    -   2,000        2,200
Treasury currency outstanding                                32,660    +      14    +   2,426       32,660
        Total factors supplying reserve funds               641,719    +   3,952    +  37,941      656,173
                                                                   
Currency in circulation*                                    600,533    -     504    +  31,687      601,958
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         407    -       5    +     305          418
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,923    -      14    +     290        4,717
  Foreign                                                       107    +      32    -       4           79
  Service-related balances and adjustments (5)                7,498    +     415    +     661        7,498
  Other                                                         303    -      22    +      86          291
Other F.R. liabilities and capital                           18,056    +     129    +   2,264       17,855
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             631,827    +      29    +  35,288      632,816

Reserve balances with F.R. Banks  (6)                         9,892    +   3,923    +   2,653       23,357
                                                                
On      July 25, 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 $    706,387 million, a change of $  +   1,032 million for the week. The total includes
$    577,279 million of U.S. government securities and $    129,108 million of federal agency securities. The total includes the face value of
U.S. Treasury strips and other zero coupon bonds.
1  Face value of the securities.
2  Net of $     18,798 million (daily average over statement week) and $     18,505 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,798 million (daily average)
   and $     18,505 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      2,282 million (daily average) and $      1,327 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      9,243 million of inflation-indexed securities valued at the original face amount and 
   $        870 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 $      6,875 million and adjustments of $        623 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
                                                           Jul 25, 2001     Jul 18, 2001     Jul 26, 2000
                ASSETS
Gold certificate account                                        11,044                0        -       2
Special drawing rights certificate account                       2,200                0        -   2,000
Coin                                                             1,092        +      13        +     377
Loans                                                              212        -     249        -     356
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           35,050        +  18,200        +  18,095
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     130
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       180,278        +     279        -  11,348
                   Notes (3)                                   255,362        +       7        +  26,493
                   Bonds (4)                                   100,752        +       4        +  13,417
    Total bought outright (5)                                  536,392        +     290        +  28,562
  Held under repurchase agreements (1)                               0                0                0
     Total U.S. government securities                          536,392        +     290        +  28,562
       Total loans and securities                              571,664        +  18,241        +  46,171
                          
Items in process of collection                      (936)        7,160        -   2,315        -     230
Bank premises                                                    1,514        +       1        +     101
Other assets (6)                                                36,300        +     599        +   1,918
                TOTAL ASSETS                        (936)      630,973        +  16,537        +  46,333
                          
                LIABILITIES
Federal Reserve notes                                          570,808        +     187        +  30,620
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       30,118        +  17,660        +  13,366
  U.S. Treasury--general account                                 4,717        -     902        -     417
  Foreign--official accounts                                        79        +       9        -      15
    Other                                             (0)          291        -      30        +      70
      Total deposits                                  (0)       35,204        +  16,737        +  13,003
Deferred availability cash items                    (936)        7,106        -     552        +     291
Other liabilities and accrued dividends (7)                      3,068        +      38        -   1,820
                TOTAL LIABILITIES                   (936)      616,186        +  16,410        +  42,094
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,153                0        +     273
Surplus                                                          6,729        +       8        +   4,050
Other capital accounts                                             905        +     119        -      83

*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 
   $        558 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      3,504 million of inflation-indexed securities valued at the original face amount and 
   $        312 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,505 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      1,327 million that are fully collateralized by other
   U.S. government securities.
6  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.
7  Includes exchange-translation account reflecting the monthly revaluation at market exchange rates of 
   foreign exchange commitments.
Components may not add to totals due to rounding.


MATURITY DISTRIBUTION OF LOANS AND SECURITIES,      July 25, 2001
Holdings of securities include securitites held under repurchase agreements, which are classified according 
to remaining maturity.

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             205       21,082   +     131            0           0       29,050           0
16 to 90 days                7      111,414   -   1,087            0           0        6,000           0
91 days to 1 year            0      128,145   +   1,236            0           0     ------      ------
Over 1 to 5 years                   144,849           0           10           0     ------      ------
Over 5 to 10 years                   53,809   +       5            0           0     ------      ------
Over 10 years                        77,092   +       4            0           0     ------      ------
                   		 	
Total                      212      536,392   +     290           10           0       35,050           0

1  Includes $      9,243 million of inflation-indexed securities valued at the original face amount and 
   $        870 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      July 25, 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                      11,044        546      4,450        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                                           1,092         69         57         59         69        182        119        133         61         35         69        111        126
                       
Loans                                            212          0          0          0          0          3          7         45         26         86         31          7          8
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          35,050          0     35,050          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                     180,278     10,831     73,848      7,405     10,554     10,770     12,396     20,418      6,498        562      5,564      3,268     18,163
                   Notes (3)                 255,362     15,343    104,605     10,489     14,950     15,255     17,559     28,922      9,204        797      7,882      4,629     25,727
                   Bonds (4)                 100,752      6,053     41,271      4,138      5,899      6,019      6,928     11,411      3,631        314      3,110      1,826     10,151
     Total bought outright(5)                536,392     32,228    219,724     22,032     31,403     32,044     36,884     60,751     19,333      1,673     16,556      9,724     54,040
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             536,392     32,228    219,724     22,032     31,403     32,044     36,884     60,751     19,333      1,673     16,556      9,724     54,040
       Total loans and securities            571,664     32,228    254,778     22,032     31,404     32,048     36,892     60,797     19,359      1,759     16,587      9,731     54,050
                       
Items in process of collection                 8,096        550        787        457        445        522        617        729        335        487        701        345      2,121
Bank premises                                  1,514         93        168         50        153        131        291        106         38        124         49        137        172
Other assets(5)                               36,300      1,898     13,168      1,330      2,144      4,867      2,385      3,446        992        669        985        807      3,607
Interdistrict settlement account                   0    +   789    -11,262    -   879    - 1,466    +12,670    +   750    + 2,153    -   252    + 4,927    - 1,183    + 1,539    - 7,786
          TOTAL ASSETS                       631,909     36,288    263,021     23,586     33,392     51,307     42,091     68,604     20,949      8,175     17,591     13,245     53,661

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  $        558 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      3,504 million of inflation-indexed securities valued at the original face amount and  $        312 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,505 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      1,327 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      July 25, 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                         570,808     31,984    243,629     21,617     30,162     42,185     38,703     62,475     19,270      6,270     15,896     11,825     46,791
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      30,118      2,678      9,354        854      1,790      4,671      1,204      3,628        987        883        813        619      2,638
  U.S. Treasury--general account                4,717          0      4,717          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       79          2         55          1          2          7          2          3          1          1          1          1          3
  Other                                           291          1        129          0          2        152          0          1          0          0          2          1          1
    Total deposits                             35,204      2,681     14,255        855      1,795      4,830      1,206      3,632        988        884        815        620      2,642
Deferred credit items                           8,041        561        887        500        335        607        823        643        244        484        366        342      2,249
Other liabilities and accrued                 
  dividends (2)                                 3,068        191      1,034        138        177        246        260        327        129         61        121         98        285
    TOTAL LIABILITIES                         617,121     35,418    259,804     23,111     32,469     47,868     40,992     67,077     20,632      7,700     17,198     12,885     51,968
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,153        417      1,466        221        411      1,700        527        727        148        375        188        160        813
Surplus                                         6,729        358      1,468        228        472      1,679        495        632        138        100        179        188        792
Other capital accounts                            905         96        282         26         40         60         77        168         31          0         26         12         88
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              631,909     36,288    263,021     23,586     33,392     51,307     42,091     68,604     20,949      8,175     17,591     13,245     53,661
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        738,458     36,102    292,036     29,850     35,529     55,143     62,117     70,974     22,813      9,110     20,123     32,105     72,556
  Less--Held by F.R. Banks                    167,650      4,118     48,408      8,233      5,367     12,958     23,414      8,499      3,543      2,840      4,226     20,280     25,765
  F.R. notes, net                             570,808     31,984    243,629     21,617     30,162     42,185     38,703     62,475     19,270      6,270     15,896     11,825     46,791
Collateral held against F.R. notes            
   Gold certificate account                    11,044
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        557,564
     Total collateral                         570,808

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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