Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 262. Powers
Statutory 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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 63–6 § 12 · 38 Stat. 103
Enacted · 12 U.S.C. § 262
Dec. 23, 1913, ch. 6, § 12 (par.), 38 Stat. 263
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 12 (par.), 38 Stat. 263Enacted provision · exact public law section
Twelfth. May also provide that any difference arising as to the Provision for subsequent ruling, etc., as to award. meaning or the application of the provisions of an award made by a board or arbitration shall be referred back to the same board or to a subcommittee of such board for a ruling, which ruling shall have the same force and effect as the original award; and if any member of the original board is unable or unwilling to serve another arbitrator shall be named in the same manner as such original member was named.
1 of 1 references resolved to an enrolled provision
Editorial Notes
Codification
Section is comprised of second par. of section 12 of act . 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 , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
Credits
1913–1935 · 2 acts
- 1913Dec. 23, 1913, ch. 6, § 12 (par.), 38 Stat. 263
- 1935Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.
Show as published
(Dec. 23, 1913, ch. 6, § 12 (par.), 38 Stat. 263; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)