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The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships. When the bank becomes critically undercapitalized the chartering authority closes the institution and appoints the FDIC as receiver of the bank. The FDIC faced its greatest challenge from the � financial crisis. Retrieved September 25, Main article: Savings and loan crisis.