The FDIC Board on Tuesday approved a $2.68 billion operating budget for 2013, which marks an 18.2% decrease from the 2012 budget.
That includes a net reduction of 687 positions, and the FDIC said it is projecting further staff reductions in 2014 and future years.
"The budget approved today is consistent with the slow but steady recovery in the U.S. banking industry over the past three years," said Chairman Martin Gruenberg in a release.
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