Capital Briefs: FDIC Spending 12% Below Budget for 1st Half

The Federal Deposit Insurance Corp. spent $864 million during the first six months of 1996, or 12% less than budgeted.

In a release last week, the agency said it postponed upgrading work stations and cut equipment spending by more than one-third, which shaved more than $12 million. Spending on outside services was cut $81.4 million, and the legal division trimmed $13.4 million by lowering fees paid to outside attorneys.

Travel expenses dropped by $10.8 million, partly because of fewer bank exams and fewer job relocations. Another $4.8 million was trimmed through lower-than-anticipated expenditures on tuition, postage, telephones, and conferences.