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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
                                                                                           January 25, 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     Jan 24, 2001 Jan 17, 2001 Jan 26, 2000 Jan 24, 2001

Reserve Bank Credit                                         577,567    -     270    +  11,826      589,528
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    516,988    +     700    +  19,410      518,441
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                             130            0    -      49          130
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      22,429    -   1,799    -   6,392       33,000
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            79    +      75    -      38            4
    Seasonal credit                                              23    -       3    -       4           24
    Extended credit                                               0            0            0            0
   Float                                                      1,189    +     441    -   2,176          940
   Other F.R. assets                                         36,730    +     316    +   1,093       36,989
Gold stock                                                   11,046            0    -       2       11,046
Special drawing rights certificate account                    2,200            0    -   4,000        2,200
Treasury currency outstanding                                31,261    +      14    +   3,024       31,261
        Total factors supplying reserve funds               622,074    -     256    +  10,848      634,035
                                                                   
Currency in circulation*                                    580,002    -   3,791    +   8,122      579,494
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         445    -      11    +     320          451
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    7,078    +     549    -     127        7,357
  Foreign                                                        85    -      21    +       2           69
  Service-related balances and adjustments (5)                6,947    +     316    -     822        6,947
  Other                                                         267    +      68    +      30          262
Other F.R. liabilities and capital                           18,248    -      17    -     243       17,937
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             613,072    -   2,908    +   7,282      612,516

Reserve balances with F.R. Banks  (6)                         9,002    +   2,651    +   3,566       21,519
                                                                
On   January 24, 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 $    693,117 million, a change of $  -   3,540 million for the week. The total includes
$    585,653 million of U.S. government securities and $    107,464 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 $     15,924 million (daily average over statement week) and $     15,520 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     15,924 million (daily average)
   and $     15,520 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,945 million (daily average) and $      2,218 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      7,386 million of inflation-indexed securities valued at the original face amount and 
   $        555 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 $      6,075 million and adjustments of $        872 million to 
   compensate for float.
6  Excludes required clearing balances and adjustments to compensate for float.

* Estimated (Treasury's figures).
Components may not add to totals due to rounding.

Worksheet for H.4.1 (a)

CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS
Millions of Dollars
                                                                                    Change Since
                                                  *          Wednesday        Wednesday        Wednesday
                                                           Jan 24, 2001     Jan 17, 2001     Jan 26, 2000
                ASSETS
Gold certificate account                                        11,046                0        -       2
Special drawing rights certificate account                       2,200                0        -   4,000
Coin                                                             1,028        +      41        +     703
Loans                                                               28        +       3        -     170
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           33,000        +  10,480        +   7,895
Federal agency obligations (2)          
  Bought outright                                                  130                0        -      45
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       184,510        +     500        -  12,601
                   Notes (3)                                   240,586        +     739        +  21,574
                   Bonds (4)                                    93,345        +     424        +  10,330
    Total bought outright (5)                                  518,441        +   1,663        +  19,303
  Held under repurchase agreements (1)                               0                0                0
     Total U.S. government securities                          518,441        +   1,663        +  19,303
       Total loans and securities                              551,598        +  12,145        +  26,981
                          
Items in process of collection                    (1,084)        8,815        -   6,680        -   8,307
Bank premises                                                    1,463                0        +      97
Other assets (6)                                                35,555        +     466        +   1,093
                TOTAL ASSETS                      (1,084)      611,706        +   5,972        +  16,566
                          
                LIABILITIES
Federal Reserve notes                                          549,711        -   3,618        +   7,904
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       28,678        +  15,054        +   9,184
  U.S. Treasury--general account                                 7,357        -     622        -   1,423
  Foreign--official accounts                                        69        -      34        -      12
    Other                                             (0)          262        -      21        +      25
      Total deposits                                  (0)       36,366        +  14,376        +   7,774
Deferred availability cash items                  (1,084)        7,692        -   4,787        +   1,313
Other liabilities and accrued dividends (7)                      4,023        -      56        -     442
                TOTAL LIABILITIES                 (1,084)      597,792        +   5,915        +  16,549
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,011        +      11        +     363
Surplus                                                          6,298        +     108        -     134
Other capital accounts                                             605        -      62        -     213

*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 $      5,552 million of inflation-indexed securities valued at the original face amount and 
   $        431 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      1,834 million of inflation-indexed securities valued at the original face amount and 
   $        124 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     15,520 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,218 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,   January 24, 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              28       22,272   +   2,178            0           0       29,000           0
16 to 90 days                0      111,129   -   1,309            0           0        4,000           0
91 days to 1 year            0      124,918   -     369            0           0     ------      ------
Over 1 to 5 years                   132,160   +     659          130           0     ------      ------
Over 5 to 10 years                   56,750   +     189            0           0     ------      ------
Over 10 years                        71,212   +     315            0           0     ------      ------
                   		 	
Total                       28      518,441   +   1,663          130           0       33,000           0

1  Includes $      7,386 million of inflation-indexed securities valued at the original face amount and 
   $        555 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
2  Includes face value of securities held under repurchase agreements classified by the remaining maturity of 
   the agreements.
3  Cash value of agreements arranged through third-party custodial banks classified by remaining maturity of 
   the agreements.
Components may not add to totals due to rounding.


H.4.1 (b)

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON   January 24, 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                      11,046        535      4,428        414        520        750        802      1,064        359        158        340        514      1,162
Special drawing rights certif. acct.           2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,028         59         73         56         70        130         99        124         53         38         71        102        152
                       
Loans                                             28          2          0          0          0          0          0         13          2          0          9          1          0
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          33,000          0     33,000          0          0          0          0          0          0          0          0          0          0
Federal agency obligations(2)      
  Bought outright                                130          7         50          5          7          8          9         16          5          1          4          4         14
  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                     184,510     10,592     71,221      7,685     10,325     10,831     12,281     22,070      7,009        777      6,149      5,459     20,110
                   Notes (3)                 240,586     13,812     92,867     10,020     13,463     14,123     16,014     28,778      9,139      1,013      8,017      7,118     26,221
                   Bonds (4)                  93,345      5,359     36,031      3,888      5,224      5,480      6,213     11,165      3,546        393      3,111      2,762     10,174
     Total bought outright(5)                518,441     29,763    200,119     21,593     29,013     30,434     34,509     62,013     19,694      2,182     17,277     15,339     56,504
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             518,441     29,763    200,119     21,593     29,013     30,434     34,509     62,013     19,694      2,182     17,277     15,339     56,504
       Total loans and securities            551,598     29,773    233,169     21,599     29,020     30,441     34,517     62,042     19,701      2,183     17,290     15,344     56,519
                       
Items in process of collection                 9,899        489      1,080        530        357        681        816        926        509        569        501        650      2,791
Bank premises                                  1,463         94        166         51        154        128        251        104         35        126         49        138        167
Other assets(5)                               35,555      1,703     12,076      1,252      2,092      5,311      2,313      3,449      1,055        690      1,032      1,080      3,501
Interdistrict settlement account                   0    + 2,335    + 7,805    +   362    +   827    + 3,100    + 1,254    -   234    - 1,280    +   245    - 1,406    - 6,827    - 6,181
          TOTAL ASSETS                       612,790     35,103    259,672     24,346     33,143     40,688     40,219     67,688     20,504      4,039     17,943     11,100     58,344

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 $      5,552 million of inflation-indexed securities valued at the original face amount and  $        431 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      1,834 million of inflation-indexed securities valued at the original face amount and  $        124 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     15,520 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,218 million that are fully collateralized by other U.S. government securities.
6  Includes assets denominated in foreign currencies, revalued monthly at market exchange rates.

Components may not add to totals due to rounding.


H.4.1 (c)

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON   January 24, 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                         549,711     31,712    239,446     22,223     30,426     33,443     36,604     59,740     18,835      1,591     16,181      8,303     51,206
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      28,678      1,778      7,086        841      1,128      3,199      1,409      5,482        943      1,345        882      1,828      2,758
  U.S. Treasury--general account                7,357          0      7,357          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       69          1         45          1          2          8          2          3          1          1          1          1          3
  Other                                           262          0        131          3          2        111          1          2          6          0          4          1          1
    Total deposits                             36,366      1,779     14,619        844      1,132      3,318      1,412      5,486        950      1,346        887      1,830      2,762
Deferred credit items                           8,776        606      1,035        616        380        759        856        668        246        528        336        423      2,324
Other liabilities and accrued                 
  dividends (2)                                 4,023        244      1,372        182        227        279        309        455        169         69        161        150        404
    TOTAL LIABILITIES                         598,876     34,343    256,472     23,866     32,165     37,799     39,181     66,350     20,201      3,533     17,564     10,706     56,696
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,011        368      1,468        228        472      1,679        496        633        138        369        179        188        792
Surplus                                         6,298        358      1,468        228        472      1,210        495        632        138        137        179        188        792
Other capital accounts                            605         34        265         25         34          0         46         73         27          0         21         17         64
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              612,790     35,103    259,672     24,346     33,143     40,688     40,219     67,688     20,504      4,039     17,943     11,100     58,344
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        748,172     37,087    299,374     31,554     36,436     50,861     60,142     70,606     23,009      9,487     21,531     32,012     76,074
  Less--Held by F.R. Banks                    198,461      5,375     59,928      9,330      6,010     17,418     23,539     10,865      4,174      7,896      5,349     23,708     24,868
  F.R. notes, net                             549,711     31,712    239,446     22,223     30,426     33,443     36,604     59,740     18,835      1,591     16,181      8,303     51,206
Collateral held against F.R. notes            
   Gold certificate account                    11,046
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                            0
   U.S. govt. and agency securities(3)        536,465
     Total collateral                         549,711

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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