<SEC-DOCUMENT>0000771524-14-000002-index.html : 20141029
<SEC-HEADER>0000771524-14-000002.hdr.sgml : 20141029
<ACCEPTANCE-DATETIME>20141029074515
ACCESSION NUMBER:		0000771524-14-000002
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140831
FILED AS OF DATE:		20141029
DATE AS OF CHANGE:		20141029
EFFECTIVENESS DATE:		20141029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FEDERATED ADJUSTABLE RATE SECURITIES FUND
		CENTRAL INDEX KEY:			0000771524
		IRS NUMBER:				251502730
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04539
		FILM NUMBER:		141178565

	BUSINESS ADDRESS:	
		STREET 1:		5800 CORPORATE DRIVE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222-3779
		BUSINESS PHONE:		8003417400

	MAIL ADDRESS:	
		STREET 1:		4000 ERICSSON DRIVE
		CITY:			WARRENDALE
		STATE:			PA
		ZIP:			15086-7561

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FEDERATED ARMS FUND
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FEDERATED U S GOVERNMENT FUND
		DATE OF NAME CHANGE:	19920421

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHOICE US GOVERNMENT SECURITIES FUND
		DATE OF NAME CHANGE:	19850903
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000771524
<SERIES-ID>S000009087
<SERIES-NAME>FEDERATED ADJUSTABLE RATE SECURITIES FUND
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000024691
<CLASS-CONTRACT-NAME>Institutional Shares
<CLASS-CONTRACT-TICKER-SYMBOL>FEUGX
</CLASS-CONTRACT>
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000024692
<CLASS-CONTRACT-NAME>Service Shares
<CLASS-CONTRACT-TICKER-SYMBOL>FASSX
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>answer.fil
<TEXT>
Document 1 - file: answer.fil

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>aud.txt
<TEXT>
Document 2 - file: aud.txt

</DOCUMENT>
</SEC-DOCUMENT>