# 32.302 Authority.

Congress has authorized Federal Reserve Banks to act, on behalf of guaranteeing agencies, as fiscal agents of the United States in the making of loan guarantees for defense production (Section301, Defense Production Act of1950 ( 50 U.S.C. App.2091 )). By Executive Order10480, August 14,1953 (3 CFR1949-53), as amended, the President has designated the following agencies as guaranteeing agencies:

1. (a) Department of Defense.

2. (b) Department of Energy.

3. (c) Department of Commerce.

4. (d) Department of the Interior.

5. (e) Department of Agriculture.

6. (f) General Services Administration.

7. (g) National Aeronautics and Space Administration.