FDIC Board Approves 2019 Operating Budget — 2018-12-18

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a $2.04 billion operating budget for 2019, down 2.3 percent from 2018 and 49 percent lower than its peak at the height of the financial crisis in 2010. In conjunction with its action on the budget, the Board also approved an authorized 2019 staffing level of 5,901 positions, down from 6,083, a net reduction of 182 positions. "I am pleased to report that we can sustain and improve our operations while achieving a year-over-year decrease in our 2019 operating budget. This budget supports the FDIC’s core mission to protect the stability of the U.S. financial system, while ensuring that the FDIC can increase the pace of innovation as the banking industry evolves," said FDIC Chairman Jelena McWilliams.