FDIC Budget, Headcount Declines to Continue

The FDIC board today approved a $2.21 billion agency operating budget for 2016, down 4.7 percent from the 2015 budget. The board also authorized a 2016 staffing level of 6,569 employees, a net reduction of 317 positions from the 2015 authorization of 6,886. “As the U.S. banking industry continues to show improvement and the number of bank failures steadily declines, we remain focused on fulfilling the responsibilities of our mission while prudently managing costs,” FDIC Chairman Martin Gruenberg said.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.