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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
                                                                                          February 21, 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     Feb 20, 2002 Feb 13, 2002 Feb 21, 2001 Feb 20, 2002

Reserve Bank Credit                                         636,464    +   8,620    +  59,333      640,383
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    565,884    +   3,238    +  46,215      566,822
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                              10            0    -      71           10
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      34,750    +   8,286    +  12,774       35,749
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             2    -      29    -      11            1
    Seasonal credit                                              16    -       8    -       1           14
    Extended credit                                               0            0            0            0
   Float                                                        -29    -      66    -     984        2,272
   Other F.R. assets                                         35,831    -   2,800    +   1,410       35,515
Gold stock                                                   11,044            0    -       2       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,293    +      14    +   1,247       33,293
        Total factors supplying reserve funds               683,001    +   8,633    +  60,578      686,921
                                                                   
Currency in circulation*                                    638,623    +   3,817    +  54,485      639,576
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         407    -       1    -      81          409
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    4,892    -      84    +      56        4,946
  Foreign                                                       136    -     178    +      29           81
  Service-related balances and adjustments (5)                9,447    +      69    +   2,917        9,447
  Other                                                         219    -       3    -      38          241
Other F.R. liabilities and capital                           17,791    +      76    -     371       17,501
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             671,516    +   3,698    +  56,996      672,201

Reserve balances with F.R. Banks  (6)                        11,485    +   4,935    +   3,582       14,720
                                                                
On  February 20, 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 $    737,037 million, a change of $  +   5,635 million for the week. The total includes
$    607,276 million of U.S. government securities and $    129,761 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 $     19,346 million (daily average over statement week) and $     19,122 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     19,346 million (daily average)
   and $     19,122 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $        786 million (daily average) and $      3,242 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 
   $        912 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 $      8,815 million and adjustments of $        632 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
                                                           Feb 20, 2002     Feb 13, 2002     Feb 21, 2001
                ASSETS
Gold certificate account                                        11,044                0        -       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,149        -      20        +      37
Loans                                                               15        -       6        -      17
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           35,749        +  10,249        +   6,984
Federal agency obligations (2)          
  Bought outright                                                   10                0                0
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       189,632        +     502        +   5,720
                   Notes (3)                                   273,665        +   3,036        +  31,228
                   Bonds (4)                                   103,524        -   1,034        +   8,754
    Total bought outright (5)                                  566,822        +   2,505        +  45,704
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          566,822        +   2,505        +  45,704
       Total loans and securities                              602,596        +  12,748        +  52,671
                          
Items in process of collection                      (967)       13,987        +   6,953        -     280
Bank premises                                                    1,511                0        +      42
Other assets (6)                                                33,997        -   3,363        +     757
                TOTAL ASSETS                        (967)      666,485        +  16,318        +  53,226
                          
                LIABILITIES
Federal Reserve notes                                          607,842        +   2,349        +  53,204
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       24,588        +   9,584        -     405
  U.S. Treasury--general account                                 4,946        +     838        +     846
  Foreign--official accounts                                        81        -     275        +       4
    Other                                            (13)          241        +      29        -      15
      Total deposits                                 (13)       29,856        +  10,176        +     429
Deferred availability cash items                    (954)       11,287        +   3,895        +      28
Other liabilities and accrued dividends (7)                      2,336        -       2        -   1,571
                TOTAL LIABILITIES                   (967)      651,319        +  16,416        +  52,088
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,440        -       2        +     426
Surplus                                                          7,269        -       1        +     902
Other capital accounts                                             457        -      95        -     191

*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 
   $        538 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 
   $        373 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     19,122 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      3,242 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,  February 20, 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              15       29,453   -   1,648            0           0       28,749           0
16 days to 90 days           0      115,927   +   3,515            0           0        7,000           0
91 days to 1 year            0      133,146   +   2,200            0           0     ------      ------
Over 1 to 5 years                   156,384   -   1,636           10           0     ------      ------
Over 5 to 10 years                   51,450   -     504            0           0     ------      ------
Over 10 years                        80,462   +     577            0           0     ------      ------
                   		 	
Total                       15      566,822   +   2,505           10           0       35,749           0

1  Includes $     10,186 million of inflation-indexed securities valued at the original face amount and 
   $        912 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  February 20, 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                      11,044        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                                           1,149         65         61         57         66        174        118        138         63         36         83        143        147
                       
Loans                                             15          1          0          0          0          0          0          0          0          4          5          1          4
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          35,749          0     35,749          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                     189,632     11,394     77,680      7,789     11,102     11,329     13,040     21,477      6,835        592      5,853      3,438     19,105
                   Notes (3)                 273,665     16,442    112,102     11,241     16,022     16,349     18,818     30,995      9,864        854      8,447      4,961     27,571
                   Bonds (4)                 103,524      6,220     42,407      4,252      6,061      6,185      7,119     11,725      3,731        323      3,195      1,877     10,430
     Total bought outright(5)                566,822     34,056    232,189     23,282     33,184     33,862     38,976     64,197     20,430      1,768     17,495     10,276     57,106
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             566,822     34,056    232,189     23,282     33,184     33,862     38,976     64,197     20,430      1,768     17,495     10,276     57,106
       Total loans and securities            602,596     34,058    267,942     23,282     33,185     33,863     38,977     64,198     20,430      1,772     17,501     10,276     57,111
                       
Items in process of collection                14,954        898      2,055        639        822      1,037      1,772      1,449        685        592      1,033        766      3,206
Bank premises                                  1,511         92        178         49        151        132        280        105         43        123         49        137        172
Other assets(6)                               33,997      1,819     12,290      1,159      2,316      4,591      2,241      3,429        910        380        916        683      3,261
Interdistrict settlement account                   0    - 3,964    -17,989    - 3,153    - 3,040    +13,181    + 4,173    + 3,456    +   136    +13,449    -   644    + 6,703    -12,307
          TOTAL ASSETS                       667,452     33,628    269,861     22,570     34,142     53,865     48,599     74,016     22,682     16,526     19,321     19,283     52,959

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  $        538 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  $        373 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     19,122 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      3,242 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  February 20, 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                         607,842     30,978    250,962     20,951     30,101     46,928     44,503     67,716     21,049     13,894     17,392     17,407     45,961
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      24,588        731      8,265        527      1,833      2,093      1,731      3,516        861      1,330        977        757      1,968
  U.S. Treasury--general account                4,946          0      4,946          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       81          2         57          1          3          7          2          3          1          1          1          1          3
  Other                                           254          2        154          0          2         62          0          1         15          0          3          2         11
    Total deposits                             29,868        734     13,422        528      1,838      2,162      1,733      3,521        876      1,330        981        761      1,982
Deferred credit items                          12,241        886      1,530        526        683      1,035      1,162        898        334        855        453        692      3,187
Other liabilities and accrued                 
  dividends (2)                                 2,336        143        740        110        134        204        195        251        105         64         97         85        207
    TOTAL LIABILITIES                         652,286     32,742    266,655     22,114     32,756     50,329     47,593     72,386     22,364     16,143     18,923     18,945     51,337
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,440        429      1,504        218        683      1,762        447        792        150        308        193        166        788
Surplus                                         7,269        418      1,504        221        665      1,757        535        793        149         75        191        164        796
Other capital accounts                            457         38        198         16         38         17         25         45         19          0         15          8         38
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              667,452     33,628    269,861     22,570     34,142     53,865     48,599     74,016     22,682     16,526     19,321     19,283     52,959
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        751,211     35,754    295,538     27,794     34,541     56,742     63,185     74,671     23,758     16,203     21,738     33,560     67,728
  Less--Held by F.R. Banks                    143,369      4,775     44,576      6,843      4,440      9,814     18,682      6,955      2,708      2,309      4,346     16,153     21,767
  F.R. notes, net                             607,842     30,978    250,962     20,951     30,101     46,928     44,503     67,716     21,049     13,894     17,392     17,407     45,961
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)        594,597
     Total collateral                         607,842

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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