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FDIC Board Approves 2018 Operating Budget, Down 48 Percent from Peak in 2010

December 21, 2017 / Source: FDIC

Press Releases
FDIC Board Approves 2018 Operating Budget, Down 48 Percent from Peak in 2010

FOR IMMEDIATE RELEASE
December 19, 2017
Media contact:
Greg Hernandez
(202) 898-6984
ghernandez@fdic.gov

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a $2.09 billion operating budget for 2018, down 3.0 percent from 2017 and 48 percent lower than the peak in 2010 at the height of the financial crisis. The Board also approved an authorized staffing level of 6,076 positions for 2018, a 4.5 percent decrease from 2017 and 34 percent lower than the peak in 2011.

"This is the eighth consecutive reduction in the FDIC's annual operating budget and staffing," FDIC Chairman Martin J. Gruenberg said. "These reductions are made possible by continuing steady improvement in the health of the U.S. banking industry as well as the FDIC's efforts to carefully manage resources. The FDIC remains focused on fulfilling its mission while prudently managing costs."

Attachments:

Proposed 2018 Operating Budget Memorandum
2018 Operating Budget Exhibits
Statement from Chairman Martin J. Gruenberg

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