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12/14/2016

Regulators

FDIC Approves Seventh Straight Budget Reduction

The FDIC board of directors approved a $2.18 billion operating budget for 2017, the seventh consecutive reduction. The budget is down 2.4 percent from 2016 and 46 percent from its 2010 peak at the height of the financial crisis. The board also approved an authorized staffing level of 6,363 positions for 2017, a 2.6 percent decrease from 2016 and 32 percent decline from its 2011 peak.