FDIC Board Approves 2020 Operating Budget — 2019-12-12

WASHINGTON – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a 2020 Operating Budget of $2.017 billion, down nearly $43 million or 1.3 percent from 2019. FDIC’s 2020 Operating Budget includes nearly $1.9 billion for ongoing operations, $75 million for receivership funding, and nearly $43 million for the Office of the Inspector General (OIG). In addition, the Board also approved an authorized 2020 staffing level of 5,755 positions, a net reduction of 160 positions from 2019. "I am pleased to support the proposed budget for 2020. This budget will allow the FDIC to sustain and improve our operations and ensure that we can keep pace as the banking industry evolves – all while achieving a year-over-year decrease in operating costs,” said FDIC Chairman Jelena McWilliams. The FDIC is charged with the vital mission of maintaining public confidence in, and protecting the stability of, the U.S. financial system.