<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0101</schemaVersion>

    <submissionType>EFFECT</submissionType>

    <act>33</act>

    <testOrLive>LIVE</testOrLive>

    <effectiveData>
        <finalEffectivenessDispDate>2007-06-25</finalEffectivenessDispDate>
        <accessionNumber>0001318148-07-000691</accessionNumber>
        <submissionType>485APOS</submissionType>
        <filer>
            <cik>0000745968</cik>
            <entityName>FEDERATED EQUITY FUNDS</entityName>
            <fileNumber>002-91090</fileNumber>
            <seriesClassContractData>
                <existing>
                    <seriesId>S000018134</seriesId>
                    <seriesName>Federated InterContinental Fund</seriesName>
                    <classContractId>C000050152</classContractId>
                    <classContractName>Class A Shares</classContractName>
                </existing>
                <existing>
                    <seriesId>S000018134</seriesId>
                    <seriesName>Federated InterContinental Fund</seriesName>
                    <classContractId>C000050153</classContractId>
                    <classContractName>Class B Shares</classContractName>
                </existing>
                <existing>
                    <seriesId>S000018134</seriesId>
                    <seriesName>Federated InterContinental Fund</seriesName>
                    <classContractId>C000050154</classContractId>
                    <classContractName>Class C Shares</classContractName>
                </existing>
                <existing>
                    <seriesId>S000018134</seriesId>
                    <seriesName>Federated InterContinental Fund</seriesName>
                    <classContractId>C000050155</classContractId>
                    <classContractName>Class K Shares</classContractName>
                </existing>
            </seriesClassContractData>
        </filer>
    </effectiveData>
</edgarSubmission>
