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http://www.bloomberg.com/apps/news?p...V.zQ0wMY&pos=5
By Alison Vekshin
Dec. 15 (Bloomberg)
The Federal Deposit Insurance Corp. today boosted its 2010 budget 56 percent to $4 billion to manage further shutdowns.
The total budget will increase from $2.6 billion and the budget for handling bank failures doubles to $2.5 billion from $1.3 billion this year, according to a budget proposal the FDIC board approved in Washington. The agency staff will increase to 8,653 next year from 7,010 for this year.
The budget “will ensure that we are prepared to handle an ever-larger number of bank failures next year, if that becomes necessary, and to provide regulatory oversight for an even larger number of troubled institutions,” FDIC Chairman Sheila Bair said in a statement.
http://www.bloomberg.com/apps/news?p...V.zQ0wMY&pos=5
By Alison Vekshin
Dec. 15 (Bloomberg)
The Federal Deposit Insurance Corp. today boosted its 2010 budget 56 percent to $4 billion to manage further shutdowns.
The total budget will increase from $2.6 billion and the budget for handling bank failures doubles to $2.5 billion from $1.3 billion this year, according to a budget proposal the FDIC board approved in Washington. The agency staff will increase to 8,653 next year from 7,010 for this year.
The budget “will ensure that we are prepared to handle an ever-larger number of bank failures next year, if that becomes necessary, and to provide regulatory oversight for an even larger number of troubled institutions,” FDIC Chairman Sheila Bair said in a statement.