Dr. Robert DeYoung has been named Associate Director of the FDIC's Division of Insurance and Research (DIR), FDIC Acting Chairman Martin Gruenberg announced today. DeYoung will head the division's Research Branch.

"Bob DeYoung brings a wealth of experience in the publication of original research and in its application to the banking and financial system," said Art Murton, DIR Director. "We look forward to the contributions he will make to the policy leadership and research efforts at the FDIC."

Dr. DeYoung joins the FDIC from the Federal Reserve Bank of Chicago, where he served as a senior economist and economic advisor in the research department. For the past two years, Dr. DeYoung has played a key role in the advancement of the FDIC's Center for Financial Research as the Coordinator of the Center's Banking Policy and Regulation Program. Dr. DeYoung also serves as an associate editor of the Journal of Financial Services Research and the Journal of Economics and Business, and as a lecturer on economics and finance at the Kellstadt Graduate School of Business at DePaul University in Chicago.

Dr. DeYoung's previous positions include senior financial economist at the Office of the Comptroller of the Currency, and Joyce Foundation Teaching Fellow of economics and management at Beloit College in Beloit, Wisconsin, from 1988 to 1992.

Dr. DeYoung holds a bachelor's degree from Rutgers University in Camden, New Jersey, and a Ph.D. in economics from the University of Wisconsin-Madison.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,854 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200). PR-1-2006