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Can you summarize 12 CFR Part 261b?
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM > RULES REGARDING PUBLIC OBSERVATION OF MEETINGS
Short Summary
The provided legal document content pertains to the rules regarding public observation of meetings conducted by the Board of Governors of the Federal Reserve System and its subdivisions. The document outlines the definitions of key terms and clarifies that public observation allows the public to listen and observe the meetings but not record them without prior approval. It also mentions exceptions to public observation and specifies the number of members required for certain actions. The document further includes procedures for public announcement of meetings, maintaining records, and providing access to transcripts, recordings, and minutes of closed meetings. No specific penalties are mentioned in the document.
Whom does it apply to?
The Board of Governors of the Federal Reserve System and its subdivisions, as well as the public
What does it govern?
Rules regarding public observation of meetings conducted by the Board of Governors of the Federal Reserve System and its subdivisions
What are exemptions?
Exceptions to public observation include matters related to national defense or foreign policy, internal personnel rules and practices, matters specifically exempted by statute, trade secrets and commercial or financial information, accusations or censures of individuals, invasion of personal privacy, investigatory records compiled for law enforcement purposes, information related to examination or condition reports of financial institutions, premature disclosure of information that may affect financial stability or implementation of proposed actions, and matters concerning subpoenas, civil actions, foreign courts, or formal agency adjudication.
What are the Penalties?
No specific penalties are mentioned in the document.
Jurisdiction
U.S. Federal Government