0000925723 fit2:S000009741Member fit2:C000026765Member 2011-11-01 2012-10-31 0000925723 fit2:S000009741Member 2011-11-01 2012-10-31 0000925723 fit2:S000009741Member fit2:C000026764Member 2011-11-01 2012-10-31 0000925723 2011-11-01 2012-10-31 0000925723 fit2:S000009741Member rr:AfterTaxesOnDistributionsMember fit2:C000026765Member 2011-11-01 2012-10-31 0000925723 fit2:S000009741Member rr:AfterTaxesOnDistributionsAndSalesMember fit2:C000026765Member 2011-11-01 2012-10-31 0000925723 fit2:S000009741Member fit2:BarclaysCapitalIntermediateGovernmentCreditIndexMember 2011-11-01 2012-10-31 pure iso4217:USD 2012-09-30 <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleShareholderFeesFederatedIntermediateGovernment/CorporateFund column period compact * ~</div> 531 536 Example FederatedInvestors.com 0 0 <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleAnnualFundOperatingExpensesFederatedIntermediateGovernment/CorporateFund column period compact * ~</div> Federated Intermediate Government/Corporate Fund (the "Fund") Shareholder Fees (fees paid directly from your investment) The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 69% of the average value of its portfolio. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. 0.0381 FEDERATED INSTITUTIONAL TRUST -0.0062 98 99 <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleAnnualTotalReturnsFederatedIntermediateGovernment/CorporateFundBarChart column period compact * ~</div> 2005-09-02 2005-09-02 2005-09-02 2005-09-02 This table describes the fees and expenses that you may pay if you buy and hold Institutional Shares (IS) and Service Shares (SS) of the Fund. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the operating expenses are as shown in the table and remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be: The Fund's IS class total return for the nine-month period from January 1, 2012 to September 30, 2012, was 3.81%. Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 4.50% (quarter ended September 30, 2009). Its lowest quarterly return was (0.86)% (quarter ended June 30, 2008). Average Annual Total Return Table In addition to Return Before Taxes, Return After Taxes is shown for the Fund's IS class to illustrate the effect of federal taxes on Fund returns. After-tax returns are shown only for IS class, and after-tax returns for SS class will differ from those shown for the IS class. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans. (For the Period Ended December 31, 2011) 1-800-341-7400 0000925723 2012-08-31 0 0 0 0 0.0096 0.0097 -0.0038 306 309 0.0433 0.0503 0.0503 0.04 0.0331 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:<ul type="square"><li style="margin-left: -20px">Interest Rate Risk. Prices of fixed-income securities generally fall when interest rates rise. Interest rate changes have a greater effect on the price of fixed-income securities with longer durations. Duration measures the price sensitivity of a fixed-income security to changes in interest rates.</li></ul><ul type="square"><li style="margin-left: -20px">Investment Sector Allocation Risk. Because the Fund may allocate relatively more assets to certain fixed-income sectors than to others, the Fund's performance may be susceptible to any developments which affect those fixed-income sectors emphasized by the Fund. </li></ul><ul type="square"><li style="margin-left: -20px">Industry Sector Allocation Risk. Because the Fund may allocate relatively more assets to certain industry sectors than others, the Fund's performance may be susceptible to any developments which affect those sectors emphasized by the Fund. </li></ul><ul type="square"><li style="margin-left: -20px">Risk Related to the Economy. Lower-grade corporate bond returns are sensitive to changes in the economy. The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the stock market based on negative developments in the U.S. and global economies. </li></ul><ul type="square"><li style="margin-left: -20px">Prepayment Risk. When homeowners prepay their mortgages in response to lower interest rates, the Fund may be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as other fixed-income securities. </li></ul><ul type="square"><li style="margin-left: -20px">Leverage Risk. Leverage risk is created when an investment exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain. </li></ul><ul type="square"><li style="margin-left: -20px">Credit Risk. It is possible that interest or principal on securities will not be paid when due. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance. </li></ul><ul type="square"><li style="margin-left: -20px">MBS Risk. A rise in interest rates may cause the value of MBS held by the Fund to decline. Certain MBS issued by GSEs are not backed by the full faith and credit of the U.S. government. A non-agency MBS is subject to the risk that the value of such security will decline, because the security is not issued or guaranteed as to principal or interest by the U.S. government or a GSE. The Fund's investments in collateralized mortgage obligations (CMOs) may entail greater market, prepayment and liquidity risks than other MBS. </li></ul><ul type="square"><li style="margin-left: -20px">Liquidity Risk. Over-the-counter (OTC) derivative contracts generally carry greater liquidity risks than exchange-traded contracts. </li></ul><ul type="square"><li style="margin-left: -20px">Risk of Foreign Investing. Because the Fund invests in dollar-denominated securities issued by foreign companies, the Fund's share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than could otherwise be the case. </li></ul><ul type="square"><li style="margin-left: -20px">Risk of Investing in Derivative Contracts and Hybrid Instruments. Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus or the Fund's Statement of Additional Information (SAI), such as interest rate, credit, currency, liquidity and leverage risks. </li></ul>The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. The Fund expects that, under normal market conditions, income will comprise the largest component of its total return. The Fund seeks to provide the appreciation component of total return by selecting those securities whose prices will, in the opinion of the investment adviser ("Adviser"), benefit from anticipated changes in economic and market conditions. The Fund's overall investment strategy is to invest in a portfolio consisting primarily of Treasury securities, U.S. government agency securities, (including mortgage-backed securities issued or guaranteed by U.S. government agencies or instrumentalities), mortgage-backed securities (MBS), asset-backed securities, investment-grade corporate securities and related derivative contracts. Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association ("Ginnie Mae"). Finally, the Fund may invest in a few government securities that have no explicit financial support, but which are regarded as having implied support because the federal government sponsors their activities. The Fund buys and sells securities based primarily on its market outlook and analysis of how securities may perform under different market conditions. Within the context of its duration, yield curve and sector allocation strategies, the Fund will select individual securities that will, in the opinion of the Adviser, benefit from anticipated changes in economic and market conditions. Because the Fund refers to U.S. government and corporate securities in its name, it will notify shareholders at least 60 days in advance of any change in its investment policies that would enable the Fund to normally invest less than 80% of its assets in U.S. government securities and investment-grade corporate securities. RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE RISK/RETURN SUMMARY: FEES AND EXPENSES Portfolio Turnover RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE What are the Fund's Main Investment Strategies? November 1, 2013 All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The stated returns assume the highest historical federal income and capital gains tax rates. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plans. lowest quarterly return 2009-09-30 2008-06-30 0.045 485BPOS 2012-10-25 false 0 0 0 0 0.004 0.004 0 0.0005 0.0052 0.0048 0.0004 0.0004 0.0034 0.0059 1178 1190 0.0415 0.0816 0.0803 0.0725 <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleExpenseExampleTransposedFederatedIntermediateGovernment/CorporateFund column period compact * ~</div> 0.0477 0.058 0.0655 0.0661 0.064 0.0629 0.0588 0.0576 0.0546 0.0533 0.055 0.0521 <div style="display:none">~ http://www.federatedinvestors.com/role/ScheduleAverageAnnualTotalReturnsTransposedFederatedIntermediateGovernment/CorporateFund column period compact * ~</div> The Fund's investment objective is to provide total return. The Fund's total return consists of two components: (1) changes in the market value of its portfolio of securities (both realized and unrealized appreciation); and (2) income received from its portfolio of securities. What are the Main Risks of Investing in the Fund? Performance: Bar Chart and Table Risk/Return Bar Chart The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns averaged over the stated periods, and includes comparative performance information for each class shown. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400. Federated Intermediate Government/Corporate Fund - IS Class 0.69 The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. After-tax returns are shown only for IS class, and after-tax returns for SS class will differ from those shown for the IS class. The Fund's IS class total return for the nine-month period highest quarterly return -0.0086 2012-10-31 2012-10-29 up to but not including the later of (the "Termination Date"): (a) November 1, 2013; or (b) the date of the Fund's next effective Prospectus. The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. The Adviser and its affiliates have voluntarily agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses (excluding Acquired Fund Fees and Expenses) paid by the Fund's IS and SS classes (after the voluntary waivers and/or reimbursements) will not exceed 0.30% and 0.55% (the "Fee Limit"), respectively, up to but not including the later of (the "Termination Date"): (a) November 1, 2013; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Fund's Board of Trustees. Barclays Capital changed the name of the index from "Barclays Capital Intermediate Government/Credit Index" to "Barclays Intermediate Government/Credit Index." Barclays Intermediate Government/Credit Index is a market weighted performance benchmark for government and corporate fixed-rate debt issues with maturities between one and ten years.