The FDIC board today approved a $2.09 billion operating budget for 2018, down 3 percent from the 2017 budget. The board also authorized a 2018 staffing level of 6,076 positions for 2018, a net reduction of 287 positions from the 2017 staffing level of 6,363. This decrease marks the eighth consecutive reduction in the FDIC’s annual operating budget, FDIC Chairman Martin 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.”
FDIC extends comment period for Genius Act implementation
The FDIC announced that it will push back to May the deadline for comment on its proposal to create a process through which banks can seek agency approval to issue stablecoins through a subsidiary.
