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FDIC Submits to Congress Legislative Request for Human Resources Flexibilities

FOR IMMEDIATE RELEASE
PR-91-2004 (9-1-2004)
Media Contact:
David Barr (202-898-6992)

The Federal Deposit Insurance Corporation (FDIC) today submitted a request asking Congress to consider legislative changes designed to provide improved flexibilities in managing human resources.

"We are asking Congress to give us the tools we need to address the continually changing financial services industry," said Donald Powell, Chairman, FDIC. "We must have the ability to focus our resources where they are most needed. In order to address variable workloads, we need independent hiring authority, greater flexibility in using term appointments, and the ability to employ experts and consultants and to re-employ retirees."

In addition to more flexible hiring authority, the proposal would allow the FDIC similar latitude in hiring executives as the federal government has in hiring Senior Executive Service employees, to develop its own reduction-in-force and early retirement regulations, and to establish an appeals process for disciplinary actions.

The changes being sought reflect targeted approaches to specific problems with the current system and most are based on statutory authorities already granted by Congress to other government agencies.

"Our goal is to make sure the FDIC can effectively manage the insurance funds and compete with the private sector for skilled employees and executives," Powell said. "At the same time we will continue to provide our employees with the best in public-sector working conditions, pay and benefits and developmental opportunities."

The requested changes will have no effect on protections afforded FDIC employees. They will continue to be covered by existing merit systems principles and equal employment opportunity and whistleblower statutes and guidelines. Veterans' preference will continue to be considered in hiring and retention practices.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,079 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).




Last Updated 12/01/2006 communications@fdic.gov