FEDERATED FUND FOR US GOVERNMENT SECURITIES INC
485B24E, 1996-05-15
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                                        1933 Act File No.2-33490
                                        1940 Act File No.811-1890

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  Form N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

  Pre-Effective Amendment No.       ..............

  Post-Effective Amendment No.   64  .............        x

                                    and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

  Amendment No.       ............................

             FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES, INC.
            (formerly:  Fund for U.S. Government Securities, Inc.)
              (Exact Name of Registrant as Specified in Charter)

                          Federated Investors Tower
                     Pittsburgh, Pennsylvania 15222-3779
                   (Address of Principal Executive Offices)

                                (412) 288-1900
                       (Registrant's Telephone Number)
            John W. McGonigle, Esquire, Federated Investors Tower,
                     Pittsburgh, Pennsylvania 15222-3779
                   (Name and Address of Agent for Service)

It is proposed that this filing will become effective:

 x  immediately upon filing pursuant to paragraph (b)
    on                   pursuant to paragraph (b)
       -----------------
    60 days after filing pursuant to paragraph (a)
    on                 pursuant to paragraph (a) of Rule 485.

Registrant has filed with the Securities and Exchange Commission a declaration
pursuant to Rule 24f-2 under the Investment Company Act of 1940, and:

    filed the Notice required by that Rule on May 15, 1996; or
    intends to file the Notice required by that Rule on or about
              ; or
   -----------
 x  during the most recent fiscal year did not sell any securities pursuant to
   Rule 24f-2 under the Investment Company Act of 1940, and, pursuant to
   Rule 24f-2(b)(2), need not file the Notice.

                                  Copies to:

  Charles H. Morin, Esquire
  Dickstein, Shapiro & Morin, L.L.P.
  2101 L Street, N.W.
  Washington, D.C.  20037



CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933


                                      Proposed
Title of                 Proposed     Maximum
Securities   Amount      Maximum      Aggregate    Amount of
Being        Being       Offering Price            Offering Registration
Registered   Registered  Per Unit     Price*       Fee

Shares       34,342,674   $8.06       $276,801,952 $100.00
Capital Stock
(par value $.001)
(no par value)

*Registrant has elected to calculate its filing fee in the manner described in
Rule 24e-2 of the Investment Company Act of 1940.  The total amount of
securities redeemed during the previous fiscal year was 34,342,674. The total
amount of redeemed securities used for reductions pursuant to paragraph (a) of
Rule 24e-2 or paragraph (c) of Rule 24f-2 during the current year was -0-.
The amount of redeemed securities being used for reduction of the registration
fee in this Amendment is 34,342,674.



                            CONTENTS OF AMENDMENT

  This Post-Effective Amendment No. 64 to the Registration Statement of
FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES, INC. Is comprised of the
following papers and documents:

     1.The facing sheet to register a definite
       number of shares of beneficial interest,
       no par value, of FEDERATED FUND FOR U.S. GOVERNMENT
       SECURITIES, INC.;

     2.The legal opinion of counsel for the Registrant, as
       to the legality of shares being offered; and as to
       the eligibility to become effective pursuant to
       Paragraph (b) of Rule 485; and

     3.Signature page.


                                  SIGNATURES

  Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, FEDERATED FUND FOR U.S
GOVERNMENT SECURITIES, INC. certifies that it meets all of the requirements
for effectiveness of this Amendment to its Registration Statement pursuant to
Rule 485(b) under the Securities Act of 1933 and has duly caused this
Amendment to its Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Pittsburgh and
Commonwealth of Pennsylvania on the 15TH day of May, 1996.

              FEDERATED FUND FOR U.S GOVERNMENT SECURITIES, INC.

          BY:  /s/Charles H. Field
             Charles H. Field, Assistant Secretary
             Attorney in Fact for John F. Donahue
             May 15, 1996


  Pursuant to the requirements of the Securities Act of 1933, this Amendment
to its Registration Statement has been signed below by the following person in
the capacity and on the date indicated:

   NAME                     TITLE              DATE

By:  /s/Charles H. Field
   Charles H. Field        Attorney In Fact    May 15, 1996
   Assistant Secretary     For the Persons
                           Listed Below

   NAME                     TITLE

John F. Donahue*           Chairman and Director
                           (Chief Executive Officer)

J. Christopher Donahue*    President & Director

David M. Taylor*           Treasurer
                           (Principal Financial and
                           Accounting Officer)

Thomas G. Bigley*          Director

John T. Conroy, Jr.*       Director

William J. Copeland*       Director

James E. Dowd*             Director

Lawrence D. Ellis, M.D.*   Director

Edward L. Flaherty, Jr.*   Director

Peter E. Madden*           Director

Gregor F. Meyer*           Director

John E. Murray, Jr.*       Director

Wesley W. Posvar*          Director
Marjorie P. Smuts*         Director






   FEDERATED ADMINISTRATIVE
             SERVICES

                                          FEDERATED INVESTORS TOWER
                                          PITTSBURGH, PA 15222-3779
                                          412-288-1900

                                          May 15, 1996



Federated Fund for U.S. Government Securities, Inc.
(formerly:  Fund for U.S. Government Securities, Inc.)
Federated Investors Tower
Pittsburgh, PA  15222-3779

Gentlemen:

     You have requested my opinion in conjunction with the registration by
Federated Fund for U.S. Government Securities, Inc.  (formerly:  Fund for U.S.
Government Securities, Inc.) (the "Corporation") of an additional 34,342,674
shares of its common stock pursuant to Post-effective Amendment No. 64 to the
Corporation's registration statement filed with the Securities and Exchange
Commission under the Securities Act of 1933 (File No.2-33490). The subject
Post-effective Amendment will be filed pursuant to Paragraph (b) of Rule 485
and become effective pursuant to said Rule immediately upon filing.

     As counsel I have participated in the preparation and filing of the
Corporation's amended registration statement under the Securities Act of 1933
referred to above. Further, I have examined and am familiar with the
Corporation's Articles of Incorporation dated June 6, 1969 ("Articles of
Incorporation"), its Bylaws and other corporate documents and records deemed
relevant. I have also reviewed questions of law and consulted with counsel
thereon as deemed necessary or appropriate by me for the purpose of this
opinion.

     On the basis of the foregoing, it is my opinion that:
     1.   The Corporation is duly organized and validly existing under the
laws of the State of Maryland.

     2.   The Corporation is authorized to issue 2,000,000,000 shares of
common stock of a par value of $0.001 per share.

     3.   The Shares which are currently being registered by the Registration
Statement referred to above may be legally and validly issued from time to
time in accordance with the Articles of Incorporation upon receipt of
consideration sufficient to comply with the Articles of Incorporation and
subject to compliance with the Securities Act of 1933, as amended, the
Investment Company Act of 1940, as amended, and applicable state laws
regulating the sale of securities. Such Shares, when so issued, will be fully
paid and non-assessable.

     I hereby consent to the filing of this opinion as part of the
Corporation's registration statement referred to above and as a part of any
application or registration statement filed under the securities laws of the
States of the United States.

     The foregoing opinion is limited to the Federal laws of the United States
and the laws of the State of Maryland, and I am expressing no opinion as to
the effect of the laws of any other jurisdiction.

                                   Very truly yours,


                                   /s/ Charles H. Field
                                   Charles H. Field


<TABLE> <S> <C>


       
<S>                         <C>

<ARTICLE>                   6
<SERIES>
     <NUMBER>               001
     <NAME>                 Federated Fund for U.S.
                            Government Securities, Inc.
                            Class A Shares

<PERIOD-TYPE>               12-MOS
<FISCAL-YEAR-END>           Mar-31-1996
<PERIOD-END>                Mar-31-1996
<INVESTMENTS-AT-COST>       1,786,271,514
<INVESTMENTS-AT-VALUE>      1,784,885,273
<RECEIVABLES>               56,005,121
<ASSETS-OTHER>              103,288
<OTHER-ITEMS-ASSETS>        0
<TOTAL-ASSETS>              1,840,993,682
<PAYABLE-FOR-SECURITIES>    94,557,191
<SENIOR-LONG-TERM-DEBT>     0
<OTHER-ITEMS-LIABILITIES>   243,046,181
<TOTAL-LIABILITIES>         337,603,372
<SENIOR-EQUITY>             0
<PAID-IN-CAPITAL-COMMON>    1,669,651,407
<SHARES-COMMON-STOCK>       171,003,431
<SHARES-COMMON-PRIOR>       178,322,326
<ACCUMULATED-NII-CURRENT>   8,271,612
<OVERDISTRIBUTION-NII>      0
<ACCUMULATED-NET-GAINS>     (173,146,468)
<OVERDISTRIBUTION-GAINS>    0
<ACCUM-APPREC-OR-DEPREC>    (1,386,241)
<NET-ASSETS>                1,330,271,874
<DIVIDEND-INCOME>           0
<INTEREST-INCOME>           118,204,745
<OTHER-INCOME>              0
<EXPENSES-NET>              15,770,529
<NET-INVESTMENT-INCOME>     102,434,216
<REALIZED-GAINS-CURRENT>    15,733,325
<APPREC-INCREASE-CURRENT>   7,914,175
<NET-CHANGE-FROM-OPS>       126,081,716
<EQUALIZATION>              (663,008)
<DISTRIBUTIONS-OF-INCOME>   95,810,418
<DISTRIBUTIONS-OF-GAINS>    0
<DISTRIBUTIONS-OTHER>       0
<NUMBER-OF-SHARES-SOLD>     14,028,935
<NUMBER-OF-SHARES-REDEEMED> 29,072,831
<SHARES-REINVESTED>         7,725,001
<NET-CHANGE-IN-ASSETS>      20,885,184
<ACCUMULATED-NII-PRIOR>     11,523,255
<ACCUMULATED-GAINS-PRIOR>   (210,825,433)
<OVERDISTRIB-NII-PRIOR>     0
<OVERDIST-NET-GAINS-PRIOR>  0
<GROSS-ADVISORY-FEES>       8,731,709
<INTEREST-EXPENSE>          0
<GROSS-EXPENSE>             17,314,144
<AVERAGE-NET-ASSETS>        1,516,432,555
<PER-SHARE-NAV-BEGIN>       7.670
<PER-SHARE-NII>             0.530
<PER-SHARE-GAIN-APPREC>     0.130
<PER-SHARE-DIVIDEND>        0.550
<PER-SHARE-DISTRIBUTIONS>   0.000
<RETURNS-OF-CAPITAL>        0.000
<PER-SHARE-NAV-END>         7.780
<EXPENSE-RATIO>             0.95
<AVG-DEBT-OUTSTANDING>      221,768,341
<AVG-DEBT-PER-SHARE>        1.147
        


</TABLE>

<TABLE> <S> <C>


       
<S>                       <C>

<ARTICLE>                 6
<SERIES>
     <NUMBER>             002
     <NAME>               Federated Fund for
                          U.S. Government Securities, Inc.
                          Class B Shares

<PERIOD-TYPE>                      12-MOS
<FISCAL-YEAR-END>                  Mar-31-1996
<PERIOD-END>                       Mar-31-1996
<INVESTMENTS-AT-COST>              1,786,271,514
<INVESTMENTS-AT-VALUE>             1,784,885,273
<RECEIVABLES>                         56,005,121
<ASSETS-OTHER>                           103,288
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                     1,840,993,682
<PAYABLE-FOR-SECURITIES>              94,557,191
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>            243,046,181
<TOTAL-LIABILITIES>                  337,603,372
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>           1,669,651,407
<SHARES-COMMON-STOCK>                 11,977,944
<SHARES-COMMON-PRIOR>                  4,469,045
<ACCUMULATED-NII-CURRENT>              8,271,612
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>             (173,146,468)
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>              (1,386,241)
<NET-ASSETS>                          93,168,991
<DIVIDEND-INCOME>                              0
<INTEREST-INCOME>                    118,204,745
<OTHER-INCOME>                                 0
<EXPENSES-NET>                        15,770,529
<NET-INVESTMENT-INCOME>              102,434,216
<REALIZED-GAINS-CURRENT>              15,733,325
<APPREC-INCREASE-CURRENT>              7,914,175
<NET-CHANGE-FROM-OPS>                126,081,716
<EQUALIZATION>                          (663,008)
<DISTRIBUTIONS-OF-INCOME>              4,295,610
<DISTRIBUTIONS-OF-GAINS>                       0
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                9,233,866
<NUMBER-OF-SHARES-REDEEMED>            2,034,581
<SHARES-REINVESTED>                      309,614
<NET-CHANGE-IN-ASSETS>                20,885,184
<ACCUMULATED-NII-PRIOR>               11,523,255
<ACCUMULATED-GAINS-PRIOR>           (210,825,433)
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                  8,731,709
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                       17,314,144
<AVERAGE-NET-ASSETS>               1,516,432,555
<PER-SHARE-NAV-BEGIN>                      7.670
<PER-SHARE-NII>                            0.480
<PER-SHARE-GAIN-APPREC>                    0.120
<PER-SHARE-DIVIDEND>                       0.490
<PER-SHARE-DISTRIBUTIONS>                  0.000
<RETURNS-OF-CAPITAL>                       0.000
<PER-SHARE-NAV-END>                        7.780
<EXPENSE-RATIO>                             1.78
<AVG-DEBT-OUTSTANDING>               221,768,341
<AVG-DEBT-PER-SHARE>                       1.147
        


</TABLE>

<TABLE> <S> <C>


       
<S>                          <C>

<ARTICLE>                    6
<SERIES>
     <NUMBER>                003
     <NAME>                  Federated Fund for U.S.
                             Government Securities, Inc.
                             Class C Shares

<PERIOD-TYPE>                12-MOS
<FISCAL-YEAR-END>            Mar-31-1996
<PERIOD-END>                 Mar-31-1996
<INVESTMENTS-AT-COST>        1,786,271,514
<INVESTMENTS-AT-VALUE>       1,784,885,273
<RECEIVABLES>                56,005,121
<ASSETS-OTHER>               103,288
<OTHER-ITEMS-ASSETS>         0
<TOTAL-ASSETS>               1,840,993,682
<PAYABLE-FOR-SECURITIES>     94,557,191
<SENIOR-LONG-TERM-DEBT>      0
<OTHER-ITEMS-LIABILITIES>    243,046,181
<TOTAL-LIABILITIES>          337,603,372
<SENIOR-EQUITY>              0
<PAID-IN-CAPITAL-COMMON>     1,669,651,407
<SHARES-COMMON-STOCK>        10,276,965
<SHARES-COMMON-PRIOR>        10,494,887
<ACCUMULATED-NII-CURRENT>    8,271,612
<OVERDISTRIBUTION-NII>       0
<ACCUMULATED-NET-GAINS>      (173,146,468)
<OVERDISTRIBUTION-GAINS>     0
<ACCUM-APPREC-OR-DEPREC>     (1,386,241)
<NET-ASSETS>                 79,949,445
<DIVIDEND-INCOME>            0
<INTEREST-INCOME>            118,204,745
<OTHER-INCOME>               0
<EXPENSES-NET>               15,770,529
<NET-INVESTMENT-INCOME>      102,434,216
<REALIZED-GAINS-CURRENT>     15,733,325
<APPREC-INCREASE-CURRENT>    7,914,175
<NET-CHANGE-FROM-OPS>        126,081,716
<EQUALIZATION>               (663,008)
<DISTRIBUTIONS-OF-INCOME>    4,916,823
<DISTRIBUTIONS-OF-GAINS>     0
<DISTRIBUTIONS-OTHER>        0
<NUMBER-OF-SHARES-SOLD>      2,705,784
<NUMBER-OF-SHARES-REDEEMED>  3,235,263
<SHARES-REINVESTED>          311,557
<NET-CHANGE-IN-ASSETS>       20,885,184
<ACCUMULATED-NII-PRIOR>      11,523,255
<ACCUMULATED-GAINS-PRIOR>    (210,825,433)
<OVERDISTRIB-NII-PRIOR>      0
<OVERDIST-NET-GAINS-PRIOR>   0
<GROSS-ADVISORY-FEES>        8,731,709
<INTEREST-EXPENSE>           0
<GROSS-EXPENSE>              17,314,144
<AVERAGE-NET-ASSETS>         1,516,432,555
<PER-SHARE-NAV-BEGIN>        7.670
<PER-SHARE-NII>              0.470
<PER-SHARE-GAIN-APPREC>      0.120
<PER-SHARE-DIVIDEND>         0.480
<PER-SHARE-DISTRIBUTIONS>    0.000
<RETURNS-OF-CAPITAL>         0.000
<PER-SHARE-NAV-END>          7.780
<EXPENSE-RATIO>              1.79
<AVG-DEBT-OUTSTANDING>       221,768,341
<AVG-DEBT-PER-SHARE>         1.147
        


</TABLE>


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