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Home > About FDIC > Financial Reports > 1999 Annual Report |
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1999 Annual Report |
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FDIC’s Strategic Plan and Annual Performance Plan provide the basis for annual
planning and budgeting for needed resources. The 1999 aggregate budget (for corporate and
receivership expenses) was $1.22 billion, while actual expenditures for the year were
$1.16 billion. The 1999 expenditures were four percent less than 1998 spending, resulting
in the lowest FDIC spending level since 1990. Over the past 10 years, the FDIC’s expenditures have risen and declined in response to its corporate workload. From 1990 to 1993, costs increased as the FDIC became heavily involved with resolving the banking crisis of the late 1980s and early 1990s. Expenditures began to decline in 1994 due to decreasing resolution and receivership activity, but temporarily increased in 1996 in conjunction with the absorption of Resolution Trust Corporation (RTC) operations into the FDIC. Expenditures have decreased each year since 1996. The largest component of FDIC spending is for the costs associated with staffing. The FDIC’s staff has continued to decline from a peak of 15,611 in mid-1993 to 7,266 at the end of 1999. A further decline to about 6,550 is expected by year-end 2000.
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