The Federal Deposit Insurance Corp.'s board of directors voted to approve a $2.7 billion budget for 2013, an 18% drop from last year. This was driven by fewer anticipated costs for bank failures and their clean-ups.
Yet the agency is hardly back to its pre-crisis levels. The FDIC is maintaining significant funds for a still high number of troubled institutions and resources to implement the Dodd-Frank Act, including a new facility to unwind failed megabanks.
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