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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 262 Powers us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 262 12 U.S.C. § 262 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s262 data/legal/raw/us/code/title-12/usc12.xml 76d96c84e89982f42cd1b7ed189c93112bfe988dc00a0080d058094989fa938e e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa e8f8460b39312bbf62822fdf03f6f66c47aa79eddfd25eb0f47b9825fbbbcdba 2026-07-04 official
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12 U.S.C. § 262 - Powers

Text

The Federal Advisory Council shall have power, by itself or through its officers, (1) to confer directly with the Board of Governors of the Federal Reserve System on general business conditions; (2) to make oral or written representations concerning matters within the jurisdiction of said board; (3) to call for information and to make recommendations in regard to discount rates, rediscount business, note issues, reserve conditions in the various districts, the purchase and sale of gold or securities by reserve banks, open-market operations by said banks, and the general affairs of the reserve banking system.

(Dec. 23, 1913, ch. 6, § 12 (par.), 38 Stat. 263; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

Notes

Editorial Notes

Codification Section is comprised of second par. of section 12 of act Dec. 23, 1913. First par. of section 12 is classified to section 261 of this title.

Statutory Notes and Related Subsidiaries

Change of Name Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.