📋 Tender Overview
The Board of Directors of the Federal Deposit Insurance Corporation FDIC approved a 2020 Operating Budget of 2.017 billion down nearly 43 million or 1.3 percent from 2019.FDICs 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 5755 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. This budget provides the personnel and other resources needed to carry out the agencys core mission responsibilities ensuring the safety and soundness of FDIC-insured financial institutions protecting consumers and resolving failing institutions when necessary.The budget continues the agencys campaign to stabilize and enhance the resiliency of its aging information technology IT infrastructure and operational processes and includes funding to implement its five-year IT Modernization Plan and Roadmap. The budget also includes funding for FDiTech to help develop and advance new technologies that address challenges in the banking industry.
