The Fed on Wednesday approved a $165.6 million operating budget for 1997, up 2.8% from 1996. It also adopted a $12 million capital budget and approved funding for 1,746 positions, up 14 employees from this year.

The budget includes more than $9 million for computer upgrades, wiring, and Internet services. It also includes more than $2 million for repairs to the Fed's two buildings here.

The Fed also approved a $2.96 million budget for the inspector general's office, up $24,000 from 1996. This maintains funding for 32 positions.

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