MONEY MARKET OBLIGATIONS TRUST /NEW/
485BPOS, EX-99.AUDITCONSENT, 2000-08-25
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                                                     Exhibit (j) under Form N-1A
                                              Exhibit (23) under Item 60/Reg.S-K


               Consent of Ernst & Young LLP, Independent Auditors

     We  consent to the  references  to our firm  under the  caption  "Financial
Highlights"  in the Prospectus  and  "Independent  Auditors" in the Statement of
Additional  Information  to the use of our  report  dated May 15,  2000,  in the
Post-Effective  Amendment Number 45 to the Registration Statement (Form N-1A No.
33-31602) of the Tax Free Instruments Trust dated August 23, 2000.

                                                           /s/ Ernst & Young LLP
                                                               Ernst & Young LLP

Boston, Massachusetts
August 23, 2000



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