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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Since 1933, no depositor has lost a penny of FDIC-insured funds

Press Releases

FDIC Announces Steps to Protect Banks and Consumers and to Continue Operations

FOR IMMEDIATE RELEASE
March 16, 2020

Media contact:
David Barr
(202) 898-6992
dbarr@fdic.gov

WASHINGTON — Given ongoing developments related to the coronavirus, the FDIC today announced the following steps to ensure the health and safety of its workforce and the continuity of its operations:

Despite the challenges presented by the coronavirus, the FDIC remains prepared to carry out its mission to insure deposits, promote financial stability, protect consumers, and ensure the safe and sound operation of FDIC-supervised institutions.

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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 banks and savings associations, 5,177 as of December 31, 2019. 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, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-29-2020

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