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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
                                                                                           January 31, 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     Jan 30, 2002 Jan 23, 2002 Jan 31, 2001 Jan 30, 2002

Reserve Bank Credit                                         627,628    -   4,289    +  53,922      635,310
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    561,041    +   3,112    +  44,242      562,933
    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)                      28,464    -   7,465    +   9,478       32,250
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                            11    -      10    -       1           12
    Seasonal credit                                              19    +       2    -      12           14
    Extended credit                                               0            0            0            0
   Float                                                        -22    -     120    -     697        1,705
   Other F.R. assets                                         38,105    +     192    +   1,033       38,387
Gold stock                                                   11,045            0    -       1       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding                                33,251    +      14    +   1,363       33,251
        Total factors supplying reserve funds               674,124    -   4,275    +  55,284      681,806
                                                                   
Currency in circulation*                                    630,280    -   1,685    +  51,793      631,321
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         422    +       5    -      33          415
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    9,170    +   2,071    +     267       13,340
  Foreign                                                       263    +     128    +     153          434
  Service-related balances and adjustments (5)                8,927    -     285    +   2,349        8,927
  Other                                                         237    +      14    -      40          228
Other F.R. liabilities and capital                           17,501    -      93    -     697       17,427
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             666,800    +     155    +  53,792      672,092

Reserve balances with F.R. Banks  (6)                         7,324    -   4,431    +   1,492        9,714
                                                                
On   January 30, 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 $    726,813 million, a change of $  +   3,333 million for the week. The total includes
$    593,945 million of U.S. government securities and $    132,868 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 $     18,794 million (daily average over statement week) and $     18,136 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     18,794 million (daily average)
   and $     18,136 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,981 million (daily average) and $      1,359 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 
   $        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 $      8,647 million and adjustments of $        279 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 30, 2002     Jan 23, 2002     Jan 31, 2001
                ASSETS
Gold certificate account                                        11,045                0        -       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,151        +      31        +      85
Loans                                                               25        -      37        -      10
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           32,250        -  24,250        +  13,330
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     120
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       189,897        +   2,743        +   6,948
                   Notes (3)                                   268,568        -       3        +  28,843
                   Bonds (4)                                   104,468        -       2        +  11,123
    Total bought outright (5)                                  562,933        +   2,738        +  46,915
  Held under repurchase agreements                                   0                0                0
     Total U.S. government securities                          562,933        +   2,738        +  46,915
       Total loans and securities                              595,219        -  21,547        +  60,116
                          
Items in process of collection                    (1,018)        9,685        -   5,048        -     338
Bank premises                                                    1,509        -       4        +      42
Other assets (6)                                                36,860        +     343        +   1,693
                TOTAL ASSETS                      (1,018)      657,669        -  26,225        +  61,597
                          
                LIABILITIES
Federal Reserve notes                                          599,636        -   1,015        +  50,200
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       18,592        -  25,864        +   3,172
  U.S. Treasury--general account                                13,340        +   3,490        +   8,084
  Foreign--official accounts                                       434        +     150        +     235
    Other                                             (0)          228        +       8        -      78
      Total deposits                                  (0)       32,594        -  22,217        +  11,412
Deferred availability cash items                  (1,018)        8,012        -   3,018        +     206
Other liabilities and accrued dividends (7)                      2,322        +      13        -   1,638
                TOTAL LIABILITIES                 (1,018)      642,563        -  26,238        +  60,179
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,433        +      13        +     419
Surplus                                                          7,271        -       1        +   1,006
Other capital accounts                                             402        +       1        -       7

*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 
   $        556 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 
   $        387 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     18,136 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      1,359 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,   January 30, 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              25       24,757   +     610            0           0       27,250           0
16 days to 90 days           1      122,892   +   7,916            0           0        5,000           0
91 days to 1 year            0      126,032   -   5,783            0           0     ------      ------
Over 1 to 5 years                   157,732   -       1           10           0     ------      ------
Over 5 to 10 years                   51,627   -       1            0           0     ------      ------
Over 10 years                        79,894   -       2            0           0     ------      ------
                   		 	
Total                       25      562,933   +   2,738           10           0       32,250           0

1  Includes $     10,186 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   January 30, 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                      11,045        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                                           1,151         63         60         53         67        177        129        132         65         35         80        143        148
                       
Loans                                             25          3          1          0          0          4          0          7          1          1          2          2          6
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          32,250          0     32,250          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                     189,897     11,409     77,788      7,800     11,118     11,345     13,058     21,507      6,845        592      5,861      3,443     19,132
                   Notes (3)                 268,568     16,136    110,015     11,031     15,723     16,044     18,468     30,418      9,680        838      8,289      4,869     27,058
                   Bonds (4)                 104,468      6,277     42,793      4,291      6,116      6,241      7,184     11,832      3,765        326      3,224      1,894     10,525
     Total bought outright(5)                562,933     33,822    230,596     23,122     32,957     33,630     38,709     63,757     20,290      1,756     17,375     10,205     56,714
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             562,933     33,822    230,596     23,122     32,957     33,630     38,709     63,757     20,290      1,756     17,375     10,205     56,714
       Total loans and securities            595,219     33,826    262,851     23,122     32,957     33,635     38,710     63,765     20,291      1,757     17,377     10,207     56,721
                       
Items in process of collection                10,703        570      1,021        874        459        652      1,333        867        484        661        680        579      2,521
Bank premises                                  1,509         92        177         49        151        132        280        105         43        123         49        137        171
Other assets(6)                               36,860      1,993     13,424      1,314      2,484      4,756      2,444      3,756      1,014        389      1,005        738      3,542
Interdistrict settlement account                   0    - 3,801    - 7,217    - 2,842    - 3,370    +11,361    + 3,298    + 1,803    +   336    +12,338    - 1,821    + 2,562    -12,648
          TOTAL ASSETS                       658,687     33,402    275,640     23,108     33,391     51,600     47,232     71,669     22,648     15,475     17,753     14,943     51,825

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  $        556 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  $        387 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     18,136 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      1,359 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 30, 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                         599,636     30,959    252,569     20,769     29,868     44,898     44,070     66,391     20,927     13,890     16,281     13,495     45,520
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      18,592        781      4,117      1,116      1,720      2,258      1,082      2,709      1,088        593        550        641      1,938
  U.S. Treasury--general account               13,340          0     13,340          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      434          2        410          1          3          7          2          3          1          1          1          1          3
  Other                                           228          1        129          0          1         88          0          1          2          0          2          2          0
    Total deposits                             32,594        783     17,996      1,117      1,724      2,353      1,085      2,713      1,091        594        553        644      1,942
Deferred credit items                           9,030        645      1,138        652        288        617        884        686        214        547        428        383      2,547
Other liabilities and accrued                 
  dividends (2)                                 2,322        141        737        109        134        213        187        252        109         59         99         88        195
    TOTAL LIABILITIES                         643,581     32,528    272,440     22,647     32,013     48,081     46,225     70,041     22,340     15,091     17,361     14,609     50,204
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,433        429      1,504        221        681      1,759        447        791        149        307        192        165        787
Surplus                                         7,271        418      1,504        221        665      1,757        535        793        149         77        191        164        796
Other capital accounts                            402         27        192         18         33          2         26         44         10          0          9          4         38
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              658,687     33,402    275,640     23,108     33,391     51,600     47,232     71,669     22,648     15,475     17,753     14,943     51,825
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        750,240     35,798    295,940     27,887     34,691     55,697     63,839     73,873     23,916     16,240     20,905     32,991     68,464
  Less--Held by F.R. Banks                    150,604      4,839     43,371      7,117      4,823     10,799     19,769      7,483      2,989      2,350      4,624     19,496     22,944
  F.R. notes, net                             599,636     30,959    252,569     20,769     29,868     44,898     44,070     66,391     20,927     13,890     16,281     13,495     45,520
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)        586,391
     Total collateral                         599,636

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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