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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
                                                                                               May 17, 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     May 16, 2001  May 9, 2001 May 17, 2000 May 16, 2001

Reserve Bank Credit                                         584,854    +   4,840    +  28,459      594,075
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    527,258    +   2,544    +  18,905      528,380
    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)                      20,053    +   2,620    +   5,730       31,747
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                           525    +     517    +     459           24
    Seasonal credit                                              88    +      19    -     172           86
    Extended credit                                               0            0            0            0
   Float                                                       -145    -     410    +     215         -674
   Other F.R. assets                                         37,064    -     451    +   3,450       34,503
Gold stock                                                   11,046            0    -       2       11,046
Special drawing rights certificate account                    2,200            0    -   3,000        2,200
Treasury currency outstanding                                32,355    +      14    +   2,758       32,355
        Total factors supplying reserve funds               630,455    +   4,855    +  28,215      639,676
                                                                   
Currency in circulation*                                    590,208    +     596    +  24,749      591,527
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         517    -       1    +     312          511
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    5,169    +     116    -     255        5,309
  Foreign                                                       104    +      29    -      17           76
  Service-related balances and adjustments (5)                6,845    -      34    -      13        6,845
  Other                                                         395    +      30    +     141          355
Other F.R. liabilities and capital                           17,946    -      88    +   2,655       17,654
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             621,184    +     647    +  27,572      622,277

Reserve balances with F.R. Banks  (6)                         9,271    +   4,207    +     642       17,399
                                                                
On       May 16, 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 $    715,109 million, a change of $  +   9,315 million for the week. The total includes
$    585,823 million of U.S. government securities and $    129,286 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 $     17,358 million (daily average over statement week) and $     17,139 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     17,358 million (daily average)
   and $     17,139 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,449 million (daily average) and $      3,230 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      8,301 million of inflation-indexed securities valued at the original face amount and 
   $        713 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 $      6,558 million and adjustments of $        287 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
                                                           May 16, 2001      May 9, 2001     May 17, 2000
                ASSETS
Gold certificate account                                        11,046                0        -       2
Special drawing rights certificate account                       2,200                0        -   3,000
Coin                                                             1,103        -       7        +     515
Loans                                                              110        +      15        -     321
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           31,747        +  16,740        +  17,127
Federal agency obligations (2)          
  Bought outright                                                   10                0        -     130
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       178,708        -     200        -  21,863
                   Notes (3)                                   251,534        +   2,165        +  28,974
                   Bonds (4)                                    98,139        -      26        +  13,354
    Total bought outright (5)                                  528,380        +   1,938        +  20,464
  Held under repurchase agreements (1)                               0                0                0
     Total U.S. government securities                          528,380        +   1,938        +  20,464
       Total loans and securities                              560,247        +  18,693        +  37,140
                          
Items in process of collection                      (992)        7,869        -   1,042        +       3
Bank premises                                                    1,499                0        +     104
Other assets (6)                                                32,913        -   3,142        +   2,352
                TOTAL ASSETS                        (992)      616,875        +  14,500        +  37,109
                          
                LIABILITIES
Federal Reserve notes                                          560,786        +     274        +  23,503
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       24,600        +  13,360        +  10,037
  U.S. Treasury--general account                                 5,309        +     882        +     386
  Foreign--official accounts                                        76        -      13        -      50
    Other                                             (0)          355                0        +      95
      Total deposits                                  (0)       30,340        +  14,230        +  10,468
Deferred availability cash items                    (992)        8,095        +      28        +     493
Other liabilities and accrued dividends (7)                      3,418        -      43        -   1,326
                TOTAL LIABILITIES                   (992)      602,639        +  14,488        +  33,139
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,027        -      18        +     262
Surplus                                                          6,508        +      29        +   3,914
Other capital accounts                                             701                0        -     205

*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 $      5,614 million of inflation-indexed securities valued at the original face amount and 
   $        500 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      2,687 million of inflation-indexed securities valued at the original face amount and 
   $        213 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     17,139 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      3,230 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,       May 16, 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              50       19,176   -   1,980            0           0       27,742           0
16 to 90 days               59      112,824   -   3,563            0           0        4,005           0
91 days to 1 year            0      123,384   +   1,908            0           0     ------      ------
Over 1 to 5 years                   140,735   +   5,184           10           0     ------      ------
Over 5 to 10 years                   57,502   +   1,162            0           0     ------      ------
Over 10 years                        74,759   -     772            0           0     ------      ------
                   		 	
Total                      110      528,380   +   1,938           10           0       31,747           0

1  Includes $      8,301 million of inflation-indexed securities valued at the original face amount and 
   $        713 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       May 16, 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        546      4,452        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                                           1,103         78         73         64         67        169        101        136         62         46         72        103        132
                       
Loans                                            110          0          0          0          0          0          0         21          8         36         14          0         30
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          31,747          0     31,747          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                     178,708     10,737     73,205      7,340     10,462     10,676     12,289     20,240      6,441        558      5,516      3,240     18,004
                   Notes (3)                 251,534     15,113    103,037     10,331     14,726     15,027     17,296     28,488      9,066        785      7,764      4,560     25,341
                   Bonds (4)                  98,139      5,896     40,201      4,031      5,746      5,863      6,748     11,115      3,537        306      3,029      1,779      9,887
     Total bought outright(5)                528,380     31,746    216,442     21,703     30,934     31,566     36,333     59,843     19,045      1,648     16,309      9,579     53,233
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             528,380     31,746    216,442     21,703     30,934     31,566     36,333     59,843     19,045      1,648     16,309      9,579     53,233
       Total loans and securities            560,247     31,747    248,193     21,703     30,935     31,566     36,334     59,866     19,053      1,684     16,323      9,579     53,264
                       
Items in process of collection                 8,860        594        933        582        399        570      1,094        647        466        490        437        244      2,404
Bank premises                                  1,499         93        167         50        154        130        281        105         37        125         49        137        170
Other assets(5)                               32,913      1,699     11,744      1,165      1,951      4,675      2,163      3,075        865        661        884        747      3,283
Interdistrict settlement account                   0    + 1,733    -10,938    +    31    -   422    +11,159    - 1,382    +   582    -   406    + 3,747    -   318    -   186    - 3,600
          TOTAL ASSETS                       617,867     36,606    255,498     24,132     33,725     49,157     39,627     65,650     20,491      6,926     17,830     11,200     57,024

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 $      5,614 million of inflation-indexed securities valued at the original face amount and  $        500 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      2,687 million of inflation-indexed securities valued at the original face amount and  $        213 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     17,139 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      3,230 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       May 16, 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                         560,786     32,664    239,575     22,108     30,489     40,131     35,458     61,022     18,870      5,301     16,131      9,739     49,297
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      24,600      2,255      5,035        804      1,655      4,714      1,782      2,151        781        548        765        651      3,457
  U.S. Treasury--general account                5,309          0      5,309          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                       76          2         52          1          2          7          2          3          1          1          1          1          3
  Other                                           355          2        137          0          2        166          1          1          1          3         10          1         32
    Total deposits                             30,340      2,259     10,532        806      1,659      4,888      1,785      2,155        783        552        776        653      3,493
Deferred credit items                           9,087        605      1,038        582        466        728      1,079        663        357        532        408        355      2,273
Other liabilities and accrued                 
  dividends (2)                                 3,418        210      1,177        153        200        274        277        366        141         70        131        103        318
    TOTAL LIABILITIES                         603,631     35,738    252,322     23,649     32,814     46,021     38,599     64,205     20,150      6,455     17,446     10,851     55,381
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,027        417      1,450        229        411      1,681        495        690        161        367        184        152        789
Surplus                                         6,508        358      1,468        228        472      1,455        495        632        138        103        179        188        792
Other capital accounts                            701         93        258         26         29          0         38        123         42          0         21          9         62
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              617,867     36,606    255,498     24,132     33,725     49,157     39,627     65,650     20,491      6,926     17,830     11,200     57,024
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        738,483     36,763    295,897     30,362     35,647     53,873     58,327     70,005     22,650      9,256     20,794     31,664     73,243
  Less--Held by F.R. Banks                    177,696      4,100     56,322      8,254      5,158     13,742     22,869      8,983      3,780      3,955      4,663     21,925     23,946
  F.R. notes, net                             560,786     32,664    239,575     22,108     30,489     40,131     35,458     61,022     18,870      5,301     16,131      9,739     49,297
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)        547,541
     Total collateral                         560,786

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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