The rules contained in this subchapter
are promulgated pursuant to the provi-
sions of Subchapter II of Chapter 5 of
Title 5, United States Code, the Federal
Deposit Insurance Act (12 U.S.C. 1811-
1831), and other applicable laws. In ac-
cordance with the provisions of section
552(a)(1) of Title 5, United States Code
they state (1) the established places at
which, the officers from whom, and the
methods whereby, the public may secure
information, make submittals or re-
quests, or obtain decisions, (2) the gen-
eral course and method by which the
Corporation's functions are channeled
and determined, including the nature
and requirements of all formal and in-
formal procedures available, and (3)
rules of procedure, descriptions of forms
available, or the places at which forms
may be obtained, and instructions as to
the scope and contents of all papers, re-
ports, or examinations, except to the
extent exempted by law. This subchapter
also includes appropriate provisions with
respect to rule making, adjudications,
and hearings, as prescribed by law. A cur-
rent description of the Corporation's
central and field organization is sepa-
rately published in the FEDERAL REGISTER.
Proceedings by the Corporation within
the meaning of this subchapter include:
(a) The formulation and promulga-
tion of rules and regulations, including
amendments thereto or the repeal there-
General notice or proposed rule mak-
ing, including amendments thereto or
repeal thereof, will be published in the
FEDERAL REGISTER, except as specified in
§ 302.6, or otherwise excepted by law.
Such notice will include either the terms
or substance of the proposed rule or a
description of the subjects and issues in-
volved, reference to the authority under
which the rule is proposed, and a state-
ment of the time, place, and nature of
the public proceedings for making the
rule.
§ 302.2 Public participation.
Interested persons will be afforded an
opportunity to participate in the mak-
ing of any rule, except as specified in
§ 302.6, or otherwise excepted by law,
through the submission of written data,
views, or arguments, unless the board of
directors shall specifically provide an
opportunity for the oral presentation
thereof.
§ 302.3 Formulation of rules.
After consideration of all relevant
matter presented, the duly constituted
committees will submit their recommen-
dations to the board of directors and, in
collaboration with appropriate Divisions,
will prepare drafts of any proposed rules
or amendments. The board of directors
will take such action thereon as it deems
appropriate and in any rule adopted will
incorporate therein a concise general
statement of its basis and purpose.
[15 F.R. 8628, Dec. 6, 1950, as amended at
38 FR 14263, May 31, 1973]