WASHINGTON–The FDIC’s board has approved a $2.18 billion operating budget for 2017, down 2.4% from 2016 and 46% lower than the peak in 2010 at the height of the financial crisis.
The board also approved an authorized staffing level of 6,363 positions for 2017, a 2.6% decrease from 2016 and 32% lower than the peak in 2011, the agency said.
"This is the seventh consecutive reduction in the FDIC's annual operating budget," FDIC Chairman Martin J. Gruenberg said. "These reductions are made possible by continuing steady improvement in the health of the U.S. banking industry. The FDIC remains focused on fulfilling its mission while prudently managing costs."
A copy of the FDIC operating budget for 2017 can be found in the CUToday.info Vault here.
By comparison, NCUA’s 2017 budget is $298.2 million. CUToday.info has coverage of NCUA’s 2017 and 2018 budgets here.