NAME OF REGISTRANT:
Franklin Investors Securities Trust
File No. 811-4986
EXHIBIT ITEM No. 77D: Policies with respect to security
investments
At a meeting held on October 28, 2000, the Board of Directors of
the Registrant approved the following resolution:
RESOLVED, that the Franklin Bond Fund's (the "Fund")
non-fundamental policy regarding investment guidelines
be revised to (1) permit the Fund to remove the current
10% limit on investing in futures; (2) limit the Bond
Fund's ability to invest in below-investment-grade
securities to 15% of total net assets instead of the
current limitation of 35%; and (3) change the dividend
distribution from monthly to daily; and
FURTHER RESOLVED, that the officers of the Trust be,
and each of them hereby is, authorized and directed to
take any and all actions appropriate to carry out the
intent and accomplish the purposes of the foregoing
resolution, including the filing of an amendment or
supplement to the Trust's registration statement with
the U.S. Securities and Exchange Commission.
