---
kind: "section"
citation: "12 U.S.C. § 262"
title: "12"
title_heading: "Banks and Banking"
number: "262"
heading: "Powers"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/262"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter III — Federal Advisory Council"
---

# §262. Powers


The Federal Advisory Council shall have power, by itself or through its officers, (1) to confer directly with the [Board](/usc/12/221a.md?p=a) 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](/usc/12/221a.md?p=a); (3) to call for information and to make recommendations in regard to discount rates, rediscount business, note issues, reserve conditions in the various [districts](/usc/12/221a.md?p=a), the purchase and sale of gold or securities by [reserve banks](/usc/12/221a.md?p=a), open-market operations by said [banks](/usc/12/221a.md?p=a), and the general affairs of the reserve banking system.


## Source credit

(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.