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Washington
Inside Washington (01/10/2011)
* WASHINGTON (1/11/11)--Having projected that bank failures resulting from the 2008 crisis peaked in 2010, the Federal Deposit Insurance Corp. last month said it was cutting its budget slightly in 2011--but the agency will continue to add staff (American BankerJan 10). The agency’s budget remains at about $4 billion, and it adds 2.5% in staffing. The new positions are temporary, as are 40% of the total 9,252 authorized positions for 2011. With bank failures expected to remain high through at least 2011, the agency is not expected to downsize significantly for at least two years, experts say. The 2010 total of 157 bank failures surpassed the 2009 total of 140, but the cost of the 2010 failures was about $22 billion, compared with $37 billion in 2009. As the failures slow, the agency will increasingly turn its attention to litigation, observers said. Also, FDIC’s list of “problem” institutions still numbers 860 … * WASHINGTON (1/11/11)--The National Credit Union Administration (NCUA) Board has revised the closed Board meeting agenda scheduled for Thursday. The Board unanimously approved deleting item No.1, Insurance Appeals, from the previously announced closed meeting agenda. The revised agenda for the Thursday's open and closed Board meeting sessions is available online here


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