EXHIBIT (B)(2)
                               CERTIFICATIONS

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURUSANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

I, Jimmy D. Gambill,  Chief Executive Officer of the Franklin Federal Money Fund
(the  "Registrant"),  certify,  pursuant  to 18 U.S.C.  Section  1350 as adopted
pursuant  to  Section  906  of  the  Sarbanes-Oxley  Act of  2002,  that,  to my
knowledge:

1. The  periodic  report on Form N-CSR of the  Registrant  for the period  ended
6/30/03 (the "Form N-CSR") fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and

2. The information  contained in the Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Registrant.

Dated:  August 7, 2003

/S/JIMMY D. GAMBILL
Chief Executive Officer - Finance and Administration

A signed  original of this written  statement  required by Section 906, or other
document authenticating, acknowledging, or otherwise adopting the signature that
appears in typed form within the  electronic  version of this written  statement
required by Section 906, has been provided to Registrant and will be retained by
Registrant and furnished to the Securities and Exchange  Commission or its staff
upon request.




CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURUSANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

I, Kimberley H.  Monasterio,  Chief  Financial  Officer of the Franklin  Federal
Money Fund (the "Registrant"),  certify,  pursuant to 18 U.S.C.  Section 1350 as
adopted pursuant to Section 906 of the  Sarbanes-Oxley  Act of 2002, that, to my
knowledge:

1. The  periodic  report on Form N-CSR of the  Registrant  for the period  ended
6/30/03 (the "Form N-CSR") fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and

2. The information  contained in the Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Registrant.

Dated:  August 7, 2003

/S/KIMBERLEY H. MONASTERIO
Treasurer and Chief Financial Officer


A signed  original of this written  statement  required by Section 906, or other
document authenticating, acknowledging, or otherwise adopting the signature that
appears in typed form within the  electronic  version of this written  statement
required by Section 906, has been provided to Registrant and will be retained by
Registrant and furnished to the Securities and Exchange  Commission or its staff
upon request.