FDIC Board Approves 2015 Operating Budget
FDIC Subscriptions sent this bulletin at 12/16/2014 03:38 PM ESTPress Release
FDIC Board Approves 2015 Operating Budget
FOR IMMEDIATE RELEASE December 16, 2014 |
Media Contact: Barbara Hagenbaugh (202) 898-7192 Email: bhagenbaugh@fdic.gov |
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a $2.32 billion Corporate Operating Budget for 2015, 3.0 percent lower than the 2014 budget. In conjunction with its approval of the 2015 budget, the Board also approved an authorized 2015 staffing level of 6,875 positions, down from 7,200 currently authorized, a net reduction of 325 positions.
"This is the fifth consecutive reduction in the FDIC's annual operating budget," FDIC Chairman Martin Gruenberg said. "As the U.S. banking industry continues to recover, we remain focused on fulfilling our mission responsibilities while prudently managing costs."
Proposed 2015 Corporate Operating Budget Memorandum - PDF (PDF Help)
2015 Corporate Operating Budget Exhibits - PDF (PDF Help)
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 6,589 as of September 30, 2014. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations.
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