---
kind: "section"
citation: "48 C.F.R. § 32.302"
title: "48"
number: "32.302"
heading: "Authority."
url: "https://uscodex.org/cfr/48/32.302"
---

# §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 ([Section 301](/cfr/48/301.md), Defense Production Act of 1950 (50 U.S.C. App. 2091)). By Executive Order 10480, August 14, 1953 ([3 CFR 1949-53](/cfr/3/1949-53.md)), 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.**

## Notes

### Authority

Authority: 41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.

### Source

Source: 48 FR 42328, Sept. 19, 1983, unless otherwise noted.