For the seventh consecutive year, the Federal Deposit Insurance Corp. (FDIC) approved an operating budget that reflects a year-to-year reduction in operating costs, at a recent board meeting.
The 2017 FDIC Operating Budget, which accounts for the current state of the financial environment and banking industry, totals $2,157,822,764. This represents a 2.4 percent ($53 million) decrease from 2016 and a decrease of approximately 46 percent since the peak of the financial crisis, when the operating budget nearly reached $4 billion.
Read on to learn more details about the new budget.