SpendQueryBeta

FAR and DFARS › FAR Part 32: Contract Financing › Subpart 32.3

FAR 32.302 Authority.

The codified text (eCFR, as of 2026-10-02). Under the Revolutionary FAR Overhaul ↗, agencies follow class deviations with new text for many parts while the formal rules go through the Federal Register: check the solicitation and your contract's clauses, which rule.

In plain English

This section identifies the legal authority for Federal Reserve Banks to act as fiscal agents of the United States in making loan guarantees for defense production. It also lists the agencies the President has designated as guaranteeing agencies. It matters to contractors because it shows which agencies can back defense production loans.

Applies to: Federal Reserve Banks and the listed guaranteeing agencies

Key terms: guaranteeing agencies · fiscal agents · loan guarantees · defense production

Written by AI from this section's text. A guide, not legal advice: the text below rules.

The text

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 (Section 301, Defense Production Act of 1950 (50 U.S.C. App. 2091)). By Executive Order 10480, August 14, 1953 (3 CFR 1949-53), as amended, the President has designated the following agencies as guaranteeing agencies:

(a) Department of Defense.

(b) Department of Energy.

(c) Department of Commerce.

(d) Department of the Interior.

(e) Department of Agriculture.

(f) General Services Administration.

(g) National Aeronautics and Space Administration.

← 32.301 Definitions. · 32.303 General. →

Rule changes for FAR Part 32

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Plain words for the terms: glossary.

FAR 32.302 Authority · SpendQuery