§ 262. — Powers.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC262]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER III--FEDERAL ADVISORY COUNCIL
Sec. 262. Powers
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, Sec. 12 (par.), 38 Stat. 263; Aug. 23, 1935, ch.
614, title II, Sec. 203(a), 49 Stat. 704.)
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.
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.
