Federated Funds
Fidelity Bond Filing
Joint Insureds Agreement and Amendments
Contents of Submission:
1)(a) Copy of the Financial Institution Investment Company Asset
Protection Bond ("Bond") received on October 6, 2006 for filing as
required by Rule 17g-1(g)(B)(i);*
(b) Copy of the National Union Fire Insurance Company of
Pittsburgh, PA Follow Form Bond ("Bond") received on November
16, 2006 for filing as required by Rule 17g-1(g)(B)(i);**
(c) Copy of the Continental Casualty Company Excess Insurance
Policy ("Bond") received on January 17, 2007 for filing as
required by Rule 17g-1(g)(B)(i);
2) Copy of the resolution of a majority of the disinterested
directors approving the amount, type, form and coverage of the
Bond, and the portion of the premium to be paid by such company as
required by Rule 17g-1(g)(B)(ii);
3) Copy of a statement showing the amount of the single insured
bond which the investment company would have provided and
maintained had it not been named as an insured under a joint
insured bond;
4) As required by Rule 17g-1(g)(B)(iv), the period for which
premiums have been paid is October 1, 2006 to October 1, 2007; and
5) Copy of the agreement and amendments thereto between the
Investment company and all of the other named insureds received on
January 17, 2007 as required by Rule 17g-1(g)(B)(v).
* Incorporated by reference to the Fidelity Bond filing submitted on
October 16, 2006.
** Incorporated by reference to the Fidelity Bond filing submitted
on November 22, 2006.
Revised 12/12/06
Declarations
EXCESS INSURANCE POLICY
CUSTOMER NUMBER 87215
DATE ISSUED 01/17/2007
POLICY NUMBER 267920149
PRODUCER NO. 718055
COVERAGE IS PROVIDED BY Continental Casualty Company
(herein called `Underwriter')
Item 1.
NAMED INSURED AND ADDRESS PRODUCER NAME AND ADDRESS
Federated Investors, Inc. Marsh USA Inc.
(herein called `Insured') Jim Brennan
1001 Liberty Avenue 1166 Avenue of the Americas
Pittsburgh, PA 15222 New York, NY 10036
Item 2. Policy Period: from 12:01 a.m. on 10/1/2006 to 12:01 a.m. on
10/1/2007 standard time.
Item 3. Single Loss Limit of Liability: $25,000,000
Item 4. Underlying Insurance:
Primary Single Loss
Underlying Insurer Policy Number Limit of Liability Deductible
------------------ ------------- ------------------ ----------
Chubb (Federal 81948005 $15,000,000 $250,000
Insurance Company)
Excess Single Loss
Underlying Insurer Policy Number Limit of Liability Deductible
------------------ ------------- ------------------ ----------
AIG (National 673-83-04 $10,000,000 Excess $0
Union Fire Insurance of $15,000,000
Company of Pittsburgh, PA)
Item 5. Notice of claim should be sent to the Underwriter at:
CNA Global Specialty Lines
Fidelity Bonding
40 Wall Street
New York, NY 10005
Item 6. The liability of the Underwriter is subject to the terms of the
following riders attached hereto:
SR-5261b Ed. 10/87 Cosurety Rider
PRO9499 Ed. 06/04 Trade and Economic Sanctions Endorsement
Item 7. The Insured by acceptance of this policy gives notice to the
Underwriter terminating or canceling prior policy(ies) no(s). N/A,
such termination or cancellation to be effective as of the time
this policy becomes effective.
IN WITNESS WHEREOF, the Underwriter has caused this policy to be signed by its
Chairman and Secretary, at Chicago, Illinois, but the same shall not be binding
upon the Underwriter unless countersigned by a duly authorized representative
of the Underwriter.
Countersigned by __________________________________
Authorized Representative
/s/ Jonathan D. Kantor /s/ Stephen W. Lilienthal
------------------------ -------------------------
Secretary Chairman of the Board
In consideration of the payment of the premium and in reliance upon all
statements made and information provided to the Underwriter by the Insured and
subject to the provisions of this policy, the Underwriter and the Insured agree
as follows:
INSURING AGREEMENT
The Underwriter agrees to indemnify the Insured for loss which exceeds the
Underlying Insurance if such loss is properly payable thereunder, or would be,
except for exhaustion of the Underlying Insurance, provided that such loss is
reported to the Underwriter during the Policy Period or within 30 days
following the expiration or cancellation of this policy.
GENERAL AGREEMENTS
1. NOTICE OF LOSS TO THE UNDERWRITER OR LEGAL PROCEEDINGS
At the earliest practicable moment after discovery of loss also reported to the
Primary Underlying Insurer, the Insured shall give the Underwriter written
notice thereof. Within six (6) months after such discovery, the Insured shall
furnish the Underwriter proof of loss, duly sworn, with full particulars; and,
if requested by the Underwriter, copies of proof of loss presented to the
Primary Underlying Insurer.
Legal proceedings for the recovery of any loss hereunder shall not be brought
prior to the expiration of sixty (60) days after the proof of loss if filed
with the Underwriter or after the expiration of twenty-four (24) months from
discovery of such loss. If any limitation embodied herein is prohibited by any
law controlling the construction thereof, such limitation will be deemed to be
amended so as to equal the minimum period of limitation permitted by such law.
CONDITIONS AND LIMITATIONS
1. UNDERLYING COVERAGE
This policy is subject to all terms and conditions of the Primary Underlying
Insurance (except premium, limit of liability and any other provision set forth
in this policy). However, should any provision of this policy conflict with
any provision of any Underlying Insurance, then the provisions of this policy
shall control. All Underlying Insurance in effect at the inception of this
policy shall be maintained in full effect during the Policy Period. If the
Underlying Insurance is amended or modified during the Policy Period, the
Underwriter shall be given written notice as required by the Primary Underlying
Insurance and premium hereunder shall be adjusted as appropriate. Failure to
comply with the foregoing shall not void this policy; however, in the event of
such failure, the Underwriter shall only be liable to the same extent as if the
Underlying Insurance remained in full force and with the terms and conditions
agreed to by the Underwriter.
2. DROP DOWN PROVISION
If payment by the Underlying Insurer(s) for loss reduces or exhausts the
Underlying Insurance Aggregate Limit of Liability, the amount of Underlying
Insurance shall correspondingly be reduced, but never below the Primary
Insurer's Deductible/Retention Amount; and this policy shall respond to the loss
in excess of that reduced amount.
Failure of an Underlying Insurer to make payment due to insolvency or for any
other reason shall not reduce the Underlying Insurance and this policy shall
continue to respond only to loss in excess of that unreduced amount.
3. AGGREGATE LIMIT OF LIABILITY
The Underwriter's total liability for all Single Loss shall not cumulatively
exceed the Aggregate Limit of Liability set forth in Item 3 of the
Declarations. Each payment made under the terms of this policy shall reduce
the unpaid portion of the Aggregate Limit of Liability until it is exhausted,
except when a loss is settled by indemnity in lieu of payment. Upon exhaustion
of the Aggregate Limit of Liability by such payment, the Underwriter shall have
no further liability for loss regardless of when discovered and whether or not
previously reported to the Underwriter.
The unpaid portion of the Aggregate Limit of Liability shall not be increased
or reinstated by any recovery. The unpaid portion of the Aggregate Limit of
Liability shall not carry forward to loss discovered after the expiration of
the Policy Period.
4. SINGLE LOSS LIMIT OF LIABILITY
The Underwriter's liability for any Single Loss shall not exceed the Single
Loss Limit of Liability set forth in Item 3 of the Declarations.
5. CANCELLATION
This policy cancels in its entirety upon the earliest occurrence of any of the
following:
a. 60 days after the receipt by an Insured of a written notice from the
Underwriter of its decision to cancel this policy;
b. immediately upon the receipt by the Underwriter of a written notice from
the Insured of its decision to cancel this policy;
c. immediately upon the appointment of a trustee, receiver, or liquidator of
any Insured, or the taking over of any Insured by State or Federal
officials;
d. immediately upon the dissolution or takeover of an Insured;
e. immediately upon the exhaustion of the Aggregate Limit of Liability;
f. immediately upon the expiration of the Policy Period; or
g. immediately upon the cancellation, termination or non-renewal of the
Primary Underlying Insurance.
6. CONFORMITY
If any limitation embodied in this policy is prohibited by any law controlling
the construction hereof, such limitation shall be deemed to be amended as to
equal the minimum limitation provided by such law.
7. CHANGE OR MODIFICATION
This policy or any amendment affecting same may not be changed or modified
orally. No change in or modification of this policy shall be effective except
when made by written endorsement to this policy duly executed by the
Underwriter.
/s/ Jonathan D. Kantor /s/ Stephen W. Lilienthal
------------------------ -------------------------
Secretary Chairman of the Board
COSURETY RIDER
It is agreed that:
1. The term "Underwriter" as used in the attached bond shall be construed to
mean, unless otherwise specified in this rider, all the Companies
executing the attached bond.
2. Each of said Companies shall be liable only for such proportion of any
Single Loss under the attached bond as the amount underwritten by such
Company as specified in the Schedule forming a part hereof, bears to the
Aggregate Limit of Liability of the attached bond, but in no event shall
any of said Companies be liable for an amount greater than that
underwritten by it.
3. In the absence of a request from any of said Companies to pay premiums
directly to it, premiums for the attached bond may be paid to the
Controlling Company for the account of all of said Companies.
4. In the absence of a request from any of said Companies that notice of
claim and proof of loss be given to or filed directly with it, the giving
of such notice to and the filing of such proof with, the Controlling
Company shall be deemed to be in compliance with the conditions of the
attached bond for the giving of notice of loss and the filing of proof of
loss, if given and filed in accordance with said conditions.
5. The Controlling Company may give notice in accordance with the terms of
the attached bond, terminating or canceling the attached bond as an
entirety or as to any Employee, and any notice so given shall terminate or
cancel the liability of all of said Companies as an entirety or as to such
Employee, as the case may be.
6. Any Company other than the Controlling Company may give notice in
accordance with the terms of the attached bond, terminating or canceling
the entire liability of such other Company under the attached bond or as
to any Employee.
7. In the absence of a request from any of said Companies that notice of
termination or cancelation by the Insured of the attached bond in its
entirety be given to or filed directly with it, the giving of such notice
in accordance with the terms of the attached bond to the Controlling
Company shall terminate or cancel the liability of all of said Companies
as an entirety. The Insured may terminate or cancel the entire liability
of any Company, other than the Controlling Company, under the attached
bond by giving notice of such termination or cancelation to such other
Company, and shall send copy of such notice to the Controlling Company.
8. In the event of the termination or cancelation of the attached bond as an
entirety, no Company shall be liable to the Insured for a greater
proportion of any return premium due the Insured than the amount
underwritten by such Company bears to the Aggregate Limit of Liability of
the attached bond.
9. In the event of the termination or cancelation of the attached bond as to
any Company, such Company alone shall be liable to the Insured for any
return premium due the Insured on account of such termination or
cancelation. The termination or cancelation of the attached bond as to any
Company other than the Controlling Company shall not terminate, cancel or
otherwise affect the liability of the other Companies under the attached
bond.
Underwritten for the sum of $8,333,333 Controlling Company
except as follows: Continental Casualty Company
By:_________________________
Underwritten for the sum of $8,333,333 Zurich Insurance Company
except as follows:
By:_________________________
Underwritten for the sum of $8,333,333 Travelers Insurance Company
except as follows:
By:_________________________
Accepted:
By:
COSURETY RIDER
FOR USE WITH ALL FORMS OF STANDARD BONDS.
REVISED TO OCTOBER, 1987.
This endorsement, which forms a part of and is for attachment to the following
described Policy issued by the designated Insurers takes effect on the
effective date of said Policy, unless another effective date is shown below, at
the hour stated in said Policy and expires concurrently with said Policy.
Must be Completed
Complete Only When This Endorsement Is Not Prepared with the Policy
or is Not to be Effective with the Policy
ENDT. NO.
POLICY NO.
ISSUED TO EFFECTIVE DATE OF
THIS ENDORSEMENT
Countersigned by
Authorized Representative
Page 1 of 1
CNA INSURANCE COMPANIES
G-19911-A16
(ED. 07/93)
This rider/endorsement, which forms part of and is for attachment to the
following described bond/policy issued by the designated Underwriter/Company
takes effect on the effective date of said bond/policy, unless another
effective date is shown below, at the hour stated in said bond/policy and
expires concurrently with said bond/policy.
--------------------------------- -------------------------------------------------------
Must Be Completed Complete only when this rider/endorsement is not
prepared with the
bond/policy or is not to be effective with the
bond/policy
--------------------------------- -------------------------------------------------------
--------------------------------- -------------------------------------------------------
Rider/Endorsement Policy No. Issued to: Effective date of
No. 267920149 this
1 rider/endorsement
--------------------------------- -------------------------------------------------------
Countersigned by
-------------------------
Authorized Representative
TRADE AND ECONOMIC SANCTIONS ENDORSEMENT
In consideration of the premium paid, a new condition is added to the policy as
follows:
This policy does not provide coverage for Insureds, transaction or that part of
loss that is uninsurable under the laws or regulations of the United States
concerning trade or economic sanctions.
All other provisions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy
issued by the designated Insurers, takes effect on the effective date of said
Policy at the hour stated in said Policy and expires concurrently with said
Policy unless another effective date is shown below.
By Authorized Representative
------------------------------------------------------------------------
(No signature is required issued with the Policy or if it is effective on the
Policy Effective Date)
FEDERATED INVESTORS, INC.
FIDELITY BOND COVERAGE REVIEW - FEDERATED FUNDS
For December 29, 2006
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Fund Monthly Average Gross Assets Required
Coverage by
(Assets & Investment
Net Assets Liabilities*) Co.
--------------------------------------------------------------------------------
-------------------------------------------------------------------
Cash Trust Series, Inc.
GCS $530,849,360
MCS $381,338,225
PCS $4,378,384,172
TCS $355,017,186
----------------------------------
----------------------------------
$5,758,500,721 $2,500,000
Cash Trust Series II
TCSII $286,990,956
----------------------------------
----------------------------------
$292,730,775 $750,000
Edward Jones Money Market Fund
JONES $15,383,884,418
----------------------------------
----------------------------------
$15,691,562,106 $2,500,000
Federated American Leaders Fund, Inc.
ALF $2,230,414,427
----------------------------------
----------------------------------
$2,275,022,715 $1,700,000
Federated Adjustable Rate Securities Fund
FARSF $115,009,648
----------------------------------
----------------------------------
$117,309,841 $525,000
Federated Core Trust
FGP $0
FPP $0
HYCORE $800,380,015
IPCORE $2,433,372
MBCORE $1,249,859,509
----------------------------------
----------------------------------
$2,093,726,354 $1,700,000
MBCORE is a Blended Fund and its assets are also counted in participating
Federated Funds
Federated Core Trust II, LP
CACORE $150,749,060
EMCORE $432,779,786
MPCORE $43,918,643
----------------------------------
----------------------------------
$639,996,438 $900,000
Federated Equity Funds
FCAF $2,190,499,092
FTF $67,449,769
FMGSF $621,443,974
FKAUF $9,690,579,229
FKSCF $1,212,244,528
FSVF $727,216,818
FLCGF $161,746,765
FMOPF $2,878,626,404
----------------------------------
----------------------------------
$17,900,802,711 $2,500,000
Federated Equity Income Fund, Inc.
FEIF $1,146,744,179
----------------------------------
----------------------------------
$1,169,679,062 $1,250,000
Federated Fixed Income Securities, Inc.
FMUSF $242,274,773
SIF $1,097,298,574
----------------------------------
----------------------------------
$1,366,364,814 $1,250,000
Federated GNMA Trust
FGNMA $520,963,150
----------------------------------
----------------------------------
$531,382,413 $900,000
Federated Government Income Securities, Inc.
GISI $577,512,983
----------------------------------
----------------------------------
$589,063,243 $900,000
Federated High Income Bond Fund, Inc
FHIBF $1,297,560,552
----------------------------------
----------------------------------
$1,323,511,763 $1,250,000
Federated High Yield Trust
FHYT $269,706,242
----------------------------------
----------------------------------
$275,100,367 $750,000
Federated Income Securities Trust
FRRBF $2,537,490
FSACM $951,475
FCIF $555,791,827
FUSG $879,088,087
FMSAF $697,288,114
FICBF $227,363,313
FSTIF $268,690,270
----------------------------------
----------------------------------
$2,680,786,043 $1,900,000
Federated Income Trust
FIT $473,795,138
----------------------------------
----------------------------------
$483,271,041 $750,000
Federated Index Trust
MDCF $1,229,358,277
MNCF $109,025,153
MXCF $1,352,853,052
----------------------------------
----------------------------------
$2,745,061,212 $1,900,000
Federated Institutional
Trust
FIGCF $27,310,788
FIHYBF $41,103,843
FGUSF $231,631,281
----------------------------------
----------------------------------
$306,046,830 $750,000
Federated Insurance Series
IFALF $237,503,638
IFCAF $25,690,316
IFEIF $58,446,622
IFMGSF $47,268,530
IFHIBF $333,074,433
IFIEF $69,746,455
IFKAUF $101,627,624
IFMOPF $4,465,089
IFPMF $76,291,550
IFQBF $471,600,162
IFCIF $62,116,619
IFUSG $411,320,103
----------------------------------
----------------------------------
$1,937,134,165 $1,500,000
Federated International Series Inc.
FIBF $160,465,692
IEF $298,058,071
----------------------------------
----------------------------------
$467,694,238 $750,000
Federated Investment Series Fund, Inc.
FBF $1,036,930,050
----------------------------------
----------------------------------
$1,057,668,651 $1,250,000
Federated Intermediate Government Fund, Inc.
FIGF $38,975,809
----------------------------------
----------------------------------
$39,755,325 $350,000
Federated Managed Allocation Portfolios
FT2015 $1,184,941
FT2025 $1,717,760
FT2035 $1,415,669
FBAF $29,898,047
FCOAF $74,748,237
FGAF $63,418,311
FMAF $108,435,794
----------------------------------
----------------------------------
$251,534,389 $750,000
Federated Managed Pool Series
FMSP $0
FIBSP $0
FHYSP $0
FCP $5,221,922
----------------------------------
----------------------------------
$5,326,361 $150,000
Federated MDT Series
FMACC $290,457,205
FMBF $126,537,380
FMLCG $1,532,861
FMMCG $617,014
FMSCC $4,563,158
FMSCG $1,235,072
FMSCV $13,192,725
FMTAAC $7,538,358
----------------------------------
----------------------------------
$454,587,250 $750,000
Federated Municipal Securities Fund, Inc.
FMSF $510,438,755
----------------------------------
----------------------------------
$520,647,530 $900,000
Federated Municipal Securities Income Trust
FMHYAF $589,579,171
CAMIF $86,066,180
MIIMT $164,981,060
NCMIF $46,830,749
NYMIF $59,522,031
OHMIF $120,138,232
PAMIF $334,759,024
VTMIF $32,381,222
----------------------------------
----------------------------------
$861,572,068 $1,000,000
Federated Premier Municipal Income Fund
FPMIF $94,897,626
----------------------------------
----------------------------------
$96,795,579 $450,000
Federated Premier Intermediate Municipal Income Fund
FPIMIF $102,651,811
----------------------------------
----------------------------------
$104,704,848 $525,000
Federated Short-Term Municipal Trust
STMT $244,068,205
----------------------------------
----------------------------------
$248,949,569 $600,000
Federated Stock and Bond Fund, Inc.
SBF $285,072,137
----------------------------------
----------------------------------
$290,773,579 $750,000
Federated Stock Trust
FST $731,541,651
----------------------------------
----------------------------------
$746,172,484 $900,000
Federated Total Return Government Bond Fund
FTRGBF $466,983,879
----------------------------------
----------------------------------
$476,323,556 $750,000
Federated Total Return Series, Inc.
FMF $354,555,332
FTRBF $1,720,155,560
FUSBF $418,780,774
----------------------------------
----------------------------------
$2,543,361,500 $1,900,000
Federated U.S. Government Bond Fund
FUSGBF $78,034,716
----------------------------------
----------------------------------
$79,595,410 $450,000
Federated U.S. Government Securities Fund: 1-3 Years
GOV 1-3 $317,397,167
----------------------------------
----------------------------------
$323,745,110 $750,000
Federated U.S. Government Securities Fund: 2-5 Years
GOV2-5 $641,535,355
----------------------------------
----------------------------------
$654,366,062 $900,000
Federated World Investment Series, Inc.
FIVF $148,689,892
FICAF $199,176,435
FIHIF $187,644,170
FISCF $556,848,347
----------------------------------
----------------------------------
$1,114,206,021 $1,250,000
Intermediate Municipal Trust
IMT $158,724,472
----------------------------------
----------------------------------
$161,898,962 $600,000
Money Market Obligations Trust
ACMT $3,118,076,381
AGCR $495,916,309
AGMT $563,729,400
ALMCT $284,541,143
AZMCT $101,029,870
CMCT $2,389,447,141
CTMCT $205,829,122
FCRF $8,801,225,543
FGRF $8,082,711,926
FLMCT $479,437,997
FMUTR $422,316,174
FMT $206,304,454
FSTG $214,739,984
FTFT $192,798,641
GAMCT $683,054,523
GOF $12,077,636,596
GOTMF $3,625,602,562
LCT $79,664,327
LIB $282,195,041
MAMCT $261,737,627
MDMCT $102,586,205
MIMCT $244,555,338
MMM $35,909,695
MNMCT $421,939,073
MOF $5,795,135,789
NCMCT $280,383,846
NJMCT $358,002,848
NYMCT $1,456,102,465
OHMCT $368,199,738
PAMCT $457,610,002
PCOF $8,282,320,239
PMOF $4,078,858,091
POF $23,601,066,523
PVOF $10,695,550,591
TFIT $2,724,932,392
TFOF $8,511,338,878
TOF $14,423,006,317
TTO $512,663,772
USTCR $2,725,125,446
VAMCT $537,105,538
----------------------------------
----------------------------------
$130,743,995,298 $2,500,000
================================================================================
================================================================================
TOTALS: $196,137,800,636.36 $199,420,726,405 $44,400,000
================================================================================
--------------------------------------
COVERAGE FOR FEDERATED FUNDS
Current Coverage:
$50,000,000
Coverage Cushion: 11.20%
$5,600,000
--------------------------------------
*ANA multiplied by 102% to approximate gross assets.
Liabilities are generally 2% of gross assets.
Resolutions of the Board of Directors
of the Federated Funds
as adopted unanimously at their
GENERAL SESSION MEETING
November 14, 2006
RESOLVED, that the Board, including a majority of the Independent
Trustees, hereby approves pursuant to Rule 17g-1 under
the 1940 Act ("Rule 17g-1") the $50,000,000 joint
Fidelity Bond program as being reasonable in amount,
type, form and coverage;
FURTHER RESOLVED, that the Board, including a majority of the
Independent Trustees, determines that the total amount
of the joint Fidelity Bond is at least equal to the
aggregate amount that each Fund would have been
required to obtain separately if it were not part of
the joint Fidelity Bond;
FURTHER RESOLVED, that the Board, including a majority of the
Independent Trustees, approves the Funds' payment of
the coverage premiums and the proposed allocation
methodology of the premium payment by the Funds, all as
described in the meeting materials;
FURTHER RESOLVED, that the Board hereby approves the form of Joint
Insureds Agreement among the parties named as insureds
in the joint Fidelity Bond covering larceny and
embezzlement by officers and employees of the insured
parties, relating to the sharing of any recovery under
the joint Fidelity Bond, as presented at this meeting;
FURTHER RESOLVED, that Mr. John A. Barrett be and hereby is
hereafter designated as the Officer required to
make the filings and give the notices required by
Rule 17g-1(g); and
FURTHER RESOLVED, that the Board hereby authorizes and
approves amendments to the joint Fidelity Bond and
D&O/E&O Insurance policies during the upcoming
policy year to include in the coverage new Funds
as of the date each Fund is declared effective by
the Securities and Exchange Commission ("SEC"),
and new portfolios or classes as of the date each
is declared effective by the SEC, provided that
the Boards of Trustees of each authorizes and
approves: (1) the addition of each to the joint
Fidelity Bond and D&O/E&O policies; and (2) the
payment of such Fund's rider premiums, if any, for
such joint Fidelity Bond and D&O/E&O policies
until the new contract year.
JOINT INSUREDS AGREEMENT
Capital Preservation Fund; Cash Trust Series, Inc.; Cash Trust Series II;
Edward Jones Money Market Fund; Federated American Leaders Fund, Inc.;
Federated Adjustable Rate Securities Fund; Federated Core Trust; Federated
Core Trust II, L.P.: Federated Equity Funds; Federated Equity Income Fund,
Inc.; Federated Fixed Income Securities, Inc.; Federated GNMA Trust;
Federated Government Income Securities, Inc.; Federated High Income Bond
Fund, Inc.; Federated High Yield Trust; Federated Income Securities Trust;
Federated Income Trust; Federated Index Trust; Federated Institutional Trust;
Federated Insurance Series; Federated Intermediate Government Fund, Inc.;
Federated International Funds PLC; Federated International Series, Inc.;
Federated Investment Series Fund, Inc.; Federated Managed Allocation
Portfolios; Federated Municipal High Yield Advantage Fund, Inc.; Federated
Municipal Securities Fund, Inc.; Federated Municipal Securities Income Trust;
Federated Premier Intermediate Municipal Income Fund; Federated Premier
Municipal Income Fund; Federated Short-Term Municipal Trust; Federated Stock
and Bond Fund, Inc.; Federated Stock Trust; Federated Strategic Investment
Series Fund, L.P.; Federated Total Return Series, Inc.; Federated Total
Return Government Bond Fund; Federated U.S. Government Bond Fund; Federated
U.S. Government Securities Fund: 1-3 Years; Federated U.S. Government
Securities Fund: 2-5 Years; Federated World Investment Series, Inc.;
Intermediate Municipal Trust; Federated Unit Trust; Money Market Obligations
Trust; (hereinafter referred to as the "Parties") do hereby enter into this
Agreement to be effective August 17, 2005, and agree as follows:
W I T N E S E TH :
WHEREAS, the Parties have procured a joint insured fidelity bond
program from Continental Casualty Company, Federal Insurance Company,
National Union Fire Insurance Company of Pittsburgh, PA, The Travelers
Casualty & Surety Company of America and The Fidelity & Deposit Company of
MD, which the parties have approved in form and amount (hereinafter referred
to as "the Bond");
WHEREAS, the Parties procured the Bond for the purpose of protecting
their respective assets against events of loss, theft or misappropriation by
their respective officers and employees; and
WHEREAS, the Parties hereto desire to enter into an agreement so as to be
in compliance with 17 CFR 270.17g-1(f).
NOW THEREFORE, the Parties hereto, intending to be legally bound hereby,
agree as follows:
1. In the event recovery is received under the Bond as a result of a
loss sustained by any registered management investment company that is named
in the Bond and one or more of the other Parties to the Bond, the registered
investment company shall receive an equitable and proportionate share of the
recovery, at least equal to the amount which it would have received had it
provided and maintained a single insured bond with the minimum coverage as
provided, by 17 CFR 270.17g-1(d)(1).
2. Registered management investment companies, collective investment
funds, and investment companies exempt from registration under the Investment
Company Act of 1940, or series thereof, which become effective in the future,
and future established series of registered management investment companies,
collective investment funds, or investment companies exempt from registration
under the Investment Company Act of 1940, which are currently Parties, are
hereafter referred to as "Future Funds". Such Future Funds which are advised
and/or distributed and/or administered by companies which are subsidiaries or
affiliates of Federated Investors, Inc. may undertake action to become
parties to the Bond by executing a counterpart signature page to this
Agreement.
3. This Agreement may be amended or modified by a written agreement
executed by the Parties.
4. This Agreement shall be construed and the provisions thereof
interpreted in accordance with the laws of Pennsylvania.
5. This Agreement constitutes the entire agreement among the parties
hereto and supersedes any prior agreement with respect to the subject hereof,
whether oral or written, among any or all of the parties.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to
be executed in their names and on their behalf under their seals by and
through their duly authorized officers, as of the day and year first above
written.
Cash Trust Series, Inc.
Cash Trust Series II
Edward Jones Money Market Fund
Federated American Leaders Fund, Inc.
Federated Adjustable Rate Securities Fund
Federated Core Trust
Federated Core Trust II, L.P.
Federated Equity Funds
Federated Equity Income Fund, Inc.
Federated Fixed Income Securities, Inc.
Federated GNMA Trust
Federated Government Income Securities, Inc.
Federated High Income Bond Fund, Inc.
Federated High Yield Trust
Federated Income Securities Trust
Federated Income Trust
Federated Index Trust
Federated Institutional Trust
Federated Insurance Series
Federated Intermediate Government Fund, Inc.
Federated International Series, Inc.
Federated Investment Series Funds, Inc.
Federated Managed Allocation Portfolios
Federated Municipal High Yield Advantage Fund, Inc.
Federated Municipal Securities Fund, Inc.
Federated Municipal Securities Income Trust
Federated Premier Intermediate Municipal Income Fund
Federated Premier Municipal Income Fund
Federated Short-Term Municipal Trust
Federated Stock and Bond Fund, Inc.
Federated Stock Trust
Federated Total Return Series, Inc.
Federated Total Return Government Bond Fund
Federated U.S. Government Bond Fund
Federated U.S. Government Securities Fund: 1-3 Years
Federated U.S. Government Securities Fund: 2-5 Years
Federated World Investment Series, Inc.
Intermediate Municipal Trust
Money Market Obligations Trust
/s/ John W. McGonigle
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John W. McGonigle, Secretary
Capital Preservation Fund
/s/ Joseph M. Huber
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Joseph M. Huber, Secretary
Federated International Funds PLC
Federated Unit Trust
/s/ C. Todd Gibson
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C. Todd Gibson, Secretary
Federated Strategic Investment Series Fund, L.P.
/s/ Peter J. Germain
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Peter J. Germain, Secretary
Federated Joint Insured's Agreement
Amendment #1
Dated June 30, 2006
The entities designated below require that the Joint Insured's Agreement
filed with the Securities and Exchange Commission on August 17, 2005 be
amended as follows:
Entity Name Effective Date
Federated Managed Pool Series 6/12/2006
/s/ G. Andrew Bonnewell
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G. Andrew Bonnewell, Secretary
Federated Joint Insured's Agreement
Amendment #2
Dated September 29, 2006
The entities designated below require that the Joint Insured's Agreement
filed with the Securities and Exchange Commission on August 17, 2005 be
amended as follows:
Entity Name Effective Date
ADD Federated MDT Series 8/10/06
/s/ John W. McGonigle
------------------------------------------
John W. McGonigle, Secretary
Federated Joint Insured's Agreement
Amendment #3
Dated December 29, 2006
The entities designated below require that the Joint Insured's Agreement
filed with the Securities and Exchange Commission on August 17, 2005 be
amended as follows:
Entity Name Effective Date
DELETE Federated Municipal High Yield Advantage Fund, Inc. 10/10/2006
/s/ John W. McGonigle, Secretary
John W. McGonigle, Secretary