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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 18, 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 17, 2001 Jan 10, 2001 Jan 19, 2000 Jan 17, 2001

Reserve Bank Credit                                         577,838    -     525    +   5,961      578,870
  U.S. government securities (1)                                                   
    Bought outright-system account (2,3)                    516,288    +   2,176    +  21,464      516,778
    Held under repurchase agreements                              0            0            0            0
  Federal agency obligations (1)                                                   
    Bought outright                                             130            0    -      51          130
    Held under repurchase agreements                              0            0            0            0
  Repurchase agreements -- triparty (4)                      24,228    -   2,888    -  16,526       22,520
  Acceptances                                                     0            0            0            0
  Loans to depository institutions
    Adjustment credit                                             4    -      81    -     238            1
    Seasonal credit                                              26    -      10    -       2           24
    Extended credit                                               0            0            0            0
   Float                                                        748    -      16    +     345        2,919
   Other F.R. assets                                         36,415    +     296    +     985       36,498
Gold stock                                                   11,046            0    -       2       11,046
Special drawing rights certificate account                    2,200            0    -   4,000        2,200
Treasury currency outstanding                                31,247    +      14    +   3,055       31,247
        Total factors supplying reserve funds               622,331    -     511    +   5,014      623,363
                                                                   
Currency in circulation*                                    583,793    -   4,207    +   2,127      583,145
Reverse repurchase agreements -- triparty (4)                     0            0            0            0
Treasury cash holdings*                                         456    +       2    +     334          445
Deposits,other than reserve balances,with F.R.Banks                                        
  Treasury                                                    6,529    +   1,734    +   1,139        7,979
  Foreign                                                       106    -       2    +       5          103
  Service-related balances and adjustments (5)                6,631    -     325    -     840        6,631
  Other                                                         199    +      20    -      51          283
Other F.R. liabilities and capital                           18,265    +     283    -     181       17,936
        Total factors, other than reserve balances,                                        
        absorbing reserve funds                             615,980    -   2,493    +   2,535      616,521

Reserve balances with F.R. Banks  (6)                         6,351    +   1,982    +   2,479        6,842
                                                                
On   January 17, 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 $    696,657 million, a change of $  +   3,791 million for the week. The total includes
$    591,012 million of U.S. government securities and $    105,645 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 $     16,097 million (daily average over statement week) and $     15,752 million (outstanding on 
   Wednesday statement date) matched sale-purchase transactions, of which $     16,097 million (daily average)
   and $     15,752 million (outstanding on Wednesday statement date) were with foreign official and international
   accounts.  Includes securities loans of $      1,530 million (daily average) and $      2,229 million 
   (outstanding on Wednesday statement date) that are fully collateralized by other U.S. government securities.
3  Includes $      6,905 million of inflation-indexed securities valued at the original face amount and 
   $        532 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 $      6,080 million and adjustments of $        551 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 17, 2001     Jan 10, 2001     Jan 19, 2000
                ASSETS
Gold certificate account                                        11,046                0        -       2
Special drawing rights certificate account                       2,200                0        -   4,000
Coin                                                               987        +      32        +     695
Loans                                                               25        -       7        -     146
Acceptances                                                          0                0                0
Repurchase agreements -- triparty (1)                           22,520        -   5,355        -  12,090
Federal agency obligations (2)          
  Bought outright                                                  130                0        -      51
  Held under repurchase agreements                                   0                0                0
U.S. government securities (2)           
  Bought outright--Bills                                       184,010        +     645        -  11,042
                   Notes (3)                                   239,847        +     655        +  21,768
                   Bonds (4)                                    92,921                0        +   9,942
    Total bought outright (5)                                  516,778        +   1,300        +  20,668
  Held under repurchase agreements (1)                               0                0                0
     Total U.S. government securities                          516,778        +   1,300        +  20,668
       Total loans and securities                              539,453        -   4,063        +   8,381
                          
Items in process of collection                      (876)       15,495        +   7,347        +   1,601
Bank premises                                                    1,463        +       1        +      96
Other assets (6)                                                35,089        +     225        +     942
                TOTAL ASSETS                        (876)      605,734        +   3,544        +   7,714
                          
                LIABILITIES
Federal Reserve notes                                          553,329        -   2,424        +   3,266
Reverse repurchase agreements -- triparty (1)                        0                0                0
Deposits                     
  Depository institutions                                       13,624        -   1,254        -   1,030
  U.S. Treasury--general account                                 7,979        +   2,819        +   4,263
  Foreign--official accounts                                       103        -      19        +      23
    Other                                             (0)          283        +     109        +      27
      Total deposits                                  (0)       21,990        +   1,656        +   3,284
Deferred availability cash items                    (876)       12,479        +   4,361        +   1,415
Other liabilities and accrued dividends (7)                      4,079        -      60        -     435
                TOTAL LIABILITIES                   (876)      591,877        +   3,532        +   7,530
                          
                CAPITAL ACCOUNTS
Capital paid in                                                  7,000        +       1        +     357
Surplus                                                          6,190        +       1        -     242
Other capital accounts                                             667        +       9        +      69

*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 $      5,367 million of inflation-indexed securities valued at the original face amount and 
   $        428 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
4  Includes $      1,538 million of inflation-indexed securities valued at the original face amount and 
   $        105 million of compensation that adjusts for the effects of inflation on the principal of such 
   securities.
5  Net of $     15,752 million matched sale-purchase transactions outstanding at the end of the latest 
   statement week.  Includes securities loans of $      2,229 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 17, 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              25       20,094   +   5,213            0           0       16,525           0
16 to 90 days                0      112,438   -   3,931            0           0        5,995           0
91 days to 1 year            0      125,287   -     637            0           0     ------      ------
Over 1 to 5 years                   131,501           0          130           0     ------      ------
Over 5 to 10 years                   56,561   +     654            0           0     ------      ------
Over 10 years                        70,897           0            0           0     ------      ------
                   		 	
Total                       25      516,778   +   1,300          130           0       22,520           0

1  Includes $      6,905 million of inflation-indexed securities valued at the original face amount and 
   $        532 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 17, 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                                             987         52         70         56         67        122         92        122         52         35         70         97        151
                       
Loans                                             25          1          0          0          0          0          0         13          2          0          6          3          0
Acceptances                                        0          0          0          0          0          0          0          0          0          0          0          0          0
Repurchase Agreements -- triparty(1)          22,520          0     22,520          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                     184,010     10,564     71,028      7,664     10,297     10,802     12,248     22,010      6,990        775      6,132      5,444     20,055
                   Notes (3)                 239,847     13,769     92,582      9,990     13,422     14,080     15,965     28,689      9,111      1,010      7,993      7,097     26,141
                   Bonds (4)                  92,921      5,334     35,868      3,870      5,200      5,455      6,185     11,115      3,530        391      3,097      2,749     10,127
     Total bought outright(5)                516,778     29,667    199,477     21,524     28,919     30,336     34,398     61,814     19,631      2,175     17,221     15,290     56,323
  Held under repurchase agreements                 0          0          0          0          0          0          0          0          0          0          0          0          0
     Total U.S. govt. securities             516,778     29,667    199,477     21,524     28,919     30,336     34,398     61,814     19,631      2,175     17,221     15,290     56,323
       Total loans and securities            539,453     29,676    222,048     21,529     28,927     30,344     34,407     61,843     19,638      2,176     17,232     15,297     56,337
                       
Items in process of collection                16,371      1,761      2,308        613        768      1,117      1,305      1,232        740        899      1,022        604      4,003
Bank premises                                  1,463         94        166         51        154        128        251        104         35        126         49        138        167
Other assets(5)                               35,089      1,674     11,897      1,232      2,067      5,272      2,279      3,391      1,033        688      1,014      1,067      3,476
Interdistrict settlement account                   0    + 1,299    +16,290    -    10    +   774    + 1,504    + 1,023    - 3,518    - 1,449    -   717    - 1,716    - 7,243    - 6,238
          TOTAL ASSETS                       606,610     35,204    258,082     23,968     33,381     39,384     40,326     64,451     20,479      3,394     18,078     10,571     59,292

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 $      5,367 million of inflation-indexed securities valued at the original face amount and  $        428 million 
   of compensation that adjusts for the effects of inflation on the principal of such  securities.
4  Includes $      1,538 million of inflation-indexed securities valued at the original face amount and  $        105 million 
   of compensation that adjusts for the effects of inflation on the principal of such securities.
5  Net of $     15,752 million matched sale-purchase transactions outstanding at the end of the latest statement week.  
   Includes securities loans of $      2,229 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 17, 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                         553,329     31,808    240,449     22,402     30,808     33,550     36,782     60,058     19,053      1,436     16,425      8,588     51,972
Reverse repurchase agreements--triparty(1)          0          0          0          0          0          0          0          0          0          0          0          0          0
Deposits                          
  Depository institutions                      13,624      1,344      3,062        394        793      1,475        888      1,548        497        646        544        926      1,507
  U.S. Treasury--general account                7,979          0      7,979          0          0          0          0          0          0          0          0          0          0
  Foreign--official accounts                      103          1         79          1          2          8          2          3          1          1          1          1          3
  Other                                           283          1        130          2          4        119          1          1         10          0         11          1          4
    Total deposits                             21,989      1,346     11,249        397        799      1,601        891      1,552        508        648        556        927      1,514
Deferred credit items                          13,356      1,054      1,776        503        566      1,099      1,307      1,038        449        738        561        515      3,749
Other liabilities and accrued                 
  dividends (2)                                 4,079        246      1,399        186        229        280        315        465        172         67        161        149        409
    TOTAL LIABILITIES                         592,753     34,455    254,873     23,488     32,402     36,530     39,296     63,113     20,181      2,889     17,703     10,180     57,645
                              
       CAPITAL ACCOUNTS                   
Capital paid in                                 7,000        358      1,467        228        472      1,679        496        633        138        368        179        188        792
Surplus                                         6,190        358      1,468        228        472      1,103        495        632        138        137        179        188        792
Other capital accounts                            667         33        273         25         35         73         38         73         22          0         17         15         62
     TOTAL LIABILITIES AND CAPITAL            
        ACCOUNTS                              606,610     35,204    258,082     23,968     33,381     39,384     40,326     64,451     20,479      3,394     18,078     10,571     59,292
                              
FEDERAL RESERVE AGENTS' ACCOUNTS              
                              
F.R. notes outstanding                        749,177     37,056    300,499     31,475     36,426     50,852     59,891     70,754     23,084      9,522     21,543     32,002     76,073
  Less--Held by F.R. Banks                    195,848      5,248     60,050      9,073      5,618     17,303     23,109     10,696      4,031      8,087      5,119     23,414     24,101
  F.R. notes, net                             553,329     31,808    240,449     22,402     30,808     33,550     36,782     60,058     19,053      1,436     16,425      8,588     51,972
Collateral held against F.R. notes            
   Gold certificate account                    11,046
   Special drawing rights                 
     certificate account                        2,200
   Other eligible assets                          655
   U.S. govt. and agency securities(3)        539,428
     Total collateral                         553,329

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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