WASHINGTON — Preparing for more bank failures, the Federal Deposit Insurance Corp. on Tuesday approved an 84% increase in its 2009 budget, to $2.24 billion, almost entirely due to a massive funding increase for receivership operations.

The agency took three other, related steps: deposit insurance premiums will be significantly higher in the first quarter; capital requirements will be eased on merger-related goodwill; and before a failure, institutions will be required to provide data on counterparty agreements.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.