FEDERAL RESERVE These data are scheduled for release each Thursday.

release will be announced, when the information is available, on (202) 452-3206.

The exact time of each

H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 31, 2002 Millions of dollars daily figures Reserve balances of depository institutions at week ended Wednesday F.R. Banks, Reserve Bank credit, and related items Jan 31, 2001 Jan 30, 2002 Reserve Bank Credit + 53,922 635,310 U.S. government securities (1) Bought outright-system account (2,3) 44,242 562,933 Held under repurchase agreements 0 0 Federal agency obligations (1) + Bought outright 120 10 Held under repurchase agreements 0 0 Repurchase agreements -- triparty (4) + 9,478 32,250 Acceptances 0 0 Loans to depository institutions Adjustment credit 1 12 Seasonal credit 12 14 Extended credit 0 0 Float 697 1,705 Other F.R. assets + 1,033 38,387 Gold stock 1 11,045 Special drawing rights certificate account 0 2,200 Treasury currency outstanding + 1,363 33,251 Total factors supplying reserve funds + 55,284 681,806 Currency in circulation* + 51,793 631,321 Averages of Week ended Change from

Jan 30, 2002 Jan 23, 2002 627,628 4,289

561,041 0

+

3,112 0

10 0 28,464 0 11 19 0 -22 38,105 11,045 2,200 33,251 674,124 630,280 + + + -

0 0 7,465 0 10 2 0 120 192 0 0 14 4,275 1,685

Reverse repurchase agreements -- triparty (4) 0 0 Treasury cash holdings* 33 415 Deposits,other than reserve balances,with F.R.Banks Treasury 267 13,340 Foreign + 153 434 Service-related balances and adjustments (5) + 2,349 8,927 Other 40 228 Other F.R. liabilities and capital 697 17,427 Total factors, other than reserve balances, + + absorbing reserve funds 53,792 672,092 (6)

0 422 +

0 5

9,170 263 8,927 237 17,501

+ + + -

2,071 128 285 14 93

666,800 7,324

+ -

155 4,431

Reserve balances with F.R. Banks + 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 23, 2002 Wednesday * Wednesday Jan 30, 2002 11,045 2,200 1,151 25 0 32,250 10 0 189,897 268,568 104,468 562,933 0 562,933 595,219 (1,018) 9,685 1,509 36,860 (1,018) 657,669 + + + + + Jan

Jan 31, 2001 ASSETS Gold certificate account 0 1 Special drawing rights certificate account 0 0 Coin 31 + 85 Loans 37 10 Acceptances 0 0 Repurchase agreements -- triparty (1) 24,250 + 13,330 Federal agency obligations (2) Bought outright 0 120 Held under repurchase agreements 0 0 U.S. government securities (2) Bought outright--Bills 2,743 + 6,948 Notes (3) 3 + 28,843 Bonds (4) 2 + 11,123 Total bought outright (5) 2,738 + 46,915 Held under repurchase agreements 0 0 Total U.S. government securities 2,738 + 46,915 Total loans and securities 21,547 + 60,116 Items in process of collection 5,048 338 Bank premises 4 + 42 Other assets (6) 343 + 1,693 TOTAL ASSETS 26,225 + 61,597 LIABILITIES Federal Reserve notes 1,015 + 50,200 Reverse repurchase agreements -- triparty (1) 0 0

599,636 0

-

Deposits Depository institutions 25,864 + 3,172 U.S. Treasury--general account 3,490 + 8,084 Foreign--official accounts 150 + 235 Other 8 78 Total deposits 22,217 + 11,412 Deferred availability cash items 3,018 + 206 Other liabilities and accrued dividends (7) 13 1,638 TOTAL LIABILITIES 26,238 + 60,179 CAPITAL ACCOUNTS Capital paid in 13 + 419 Surplus 1 + 1,006 Other capital accounts 1 7

18,592 13,340 434 (0) (0) (1,018) 228 32,594 8,012 2,322 (1,018) 642,563

+ + + + -

7,433 7,271 402

+ +

*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 Repurchase Agreements Loans Repurchase Agreements Holdings 25 1 0 24,757 122,892 126,032 157,732 51,627 79,894 25 0 562,933 securities (1,2) Weekly changes + + + 610 7,916 5,783 1 1 2 2,738 Holdings 0 0 0 10 0 0 10 obligations(2) Weekly changes 0 0 0 0 0 0 0

Triparty(3) Triparty(3) Within 15 days 27,250 0 16 days to 90 days 5,000 0 91 days to 1 year ----------Over 1 to 5 years ----------Over 5 to 10 years ----------Over 10 years ----------Total 32,250

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 Millions of dollars Kansas San January 30, 2002

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 2 6 Acceptances 0 0 0 0 0 0 Repurchase Agreements -- triparty(1) 0 0 0 0 0 0 Federal agency obligations(2) Bought outright 0 1 1 1 0 1 Held under repurchase agreements 0 0 0 0 0 0 U.S. government securities(2) Bought outright--Bills 7,800 11,118 11,345 13,058 3,443 19,132 Notes (3) 11,031 15,723 16,044 18,468 8,289 4,869 27,058 Bonds (4) 4,291 6,116 6,241 7,184 1,894 10,525 Total bought outright(5) 23,122 32,957 33,630 38,709 17,375 10,205 56,714 Held under repurchase agreements 0 0 0 0 0 0 Total U.S. govt. securities 23,122 32,957 33,630 38,709 17,375 10,205 56,714 Total loans and securities 23,122 32,957 33,635 38,710 17,377 10,207 56,721 Items in process of collection 874 459 652 1,333 579 2,521 Bank premises 49 151 132 280 137 171 Other assets(6) 1,314 2,484 4,756 2,444 738 3,542 Interdistrict settlement account 2,842 - 3,370 +11,361 + 3,298 + 2,562 -12,648 TOTAL ASSETS 23,108 33,391 51,600 47,232 17,753 14,943 51,825

7 0 0 0 32,250

1 0 0 0 0

1 0 0 0 32,250

2 0 0

1 0

10 0

0 0

1 0

0 0

4 0

0 0

189,897 21,507 268,568 30,418 104,468 11,832 562,933 63,757 0 0 562,933 63,757 595,219 63,765 10,703 867 105 1,509

11,409 6,845 16,136 9,680 6,277 3,765 33,822 20,290 0 0 33,822 20,290 33,826 20,291 570 484 43 92 0

77,788 592 110,015 838 42,793 326 230,596 1,756 0

5,861

3,224

0

230,596 1,756 262,851 1,757 1,021 661 123 177

680 49 1,005

36,860 3,756 + 1,803 0 +

1,993 1,014

13,424 389

- 3,801 - 7,217 336 +12,338 - 1,821 33,402 22,648 275,640 15,475 These

658,687 71,669

1 Cash value of agreements arranged through third-party custodial banks. 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 Millions of dollars Kansas San Total Chicago 599,636 66,391 0 0 January 30, 2002

Philadelphia Cleveland Richmond Atlanta City Dallas Francisco LIABILITIES Federal Reserve notes 20,769 29,868 44,898 44,070 16,281 13,495 45,520 Reverse repurchase agreements--triparty(1) 0 0 0 0 0 0 Deposits Depository institutions 1,116 1,720 2,258 1,082 641 1,938 U.S. Treasury--general account 0 0 0 0 0 0 Foreign--official accounts 1 3 7 2 1 3 Other 0 1 88 0 2 0 Total deposits 1,117 1,724 2,353 1,085 644 1,942 Deferred credit items 652 288 617 884 383 2,547 Other liabilities and accrued dividends (2) 109 134 213 187 88 195 TOTAL LIABILITIES

Boston New York St. Louis Minneapolis 30,959 20,927 0 0 252,569 13,890 0 0 0

18,592 2,709 13,340 0 3 1 32,594 2,713 9,030 686 2,322 252 643,581 434 228

1,088 0 1 2 1,091 214

781 0 0 2 1 0 783 645 1

4,117 593 13,340 0 410 129 2 17,996 594 1,138 547 1

550

553 428

141 109 32,528 59

737 99 272,440

22,647 17,361

32,013 14,609

48,081 50,204

46,225

70,041

22,340

15,091

CAPITAL ACCOUNTS Capital paid in 221 681 1,759 447 165 787 Surplus 221 665 1,757 535 164 796 Other capital accounts 18 33 2 26 4 38 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 23,108 33,391 51,600 47,232 17,753 14,943 51,825 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 27,887 34,691 55,697 63,839 20,905 32,991 68,464 Less--Held by F.R. Banks 7,117 4,823 10,799 19,769 19,496 22,944 F.R. notes, net 20,769 29,868 44,898 44,070 16,281 13,495 45,520 Collateral held against F.R. notes Gold certificate account Special drawing rights certificate account Other eligible assets U.S. govt. and agency securities(3) Total collateral

7,433 791 793 44 658,687 71,669 7,271 402 10 149 149

429 307 418 27 0 77

1,504 192 1,504 192 9 191

33,402 22,648

275,640 15,475

750,240 73,873 150,604 7,483 599,636 66,391 11,045 2,200 0 586,391 599,636

35,798 23,916 4,839 2,989 30,959 20,927

295,940 16,240 43,371 2,350 252,569 13,890 4,624

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.