who sent millions of dollars in cash to help protect against the consequences of bank runs on the larger national and regional banks that had not closed. According to a Sundlun spokesperson, although the state neither owned nor backed RISDIC, "it was decided that the state had a moral obligation to protect depositors". Sundlun's administration set up the Depositors Economic Protection Corporation (DEPCO), which sold bonds in order to repay those whose money had been lost. State sales tax was increased from 6% to 7% to help pay for the hundreds of millions of dollars in bonds. The state's troubles were exacerbated by a weak economy and a significant budget deficit at the time of the closure—$162 million on a $1.5 billion budget—legally obligating lawmakers to close the budget gap at the same time as it looked for funds to compensate depositors. Though the state persisted in taking measures to ensure people recouped their losses, progress was slow. The Governor announced a plan to allow depositors to withdraw up to half of the funds in their accounts up to a certain amount, but repayments to clients of still-closed banks did not begin until six months after the initial closure. Eight months in, 200,000 customers at 13 institutions still could not access their deposits worth about $1.2 billion. After a year, only 36 of the 45 institutions had reopened, and most of the biggest remained closed, including Rhode Island Central, the state's second largest credit union. By that time, depositors with small accounts of $2,500 or less had been repaid in full, but others with money at the nine still-closed institutions had only received about 10% of their funds. Two and a half years after the closure, a small number of depositors still did not have access to their money. Public reaction Local newspapers regularly printed lists of banks that had been opened or remained closed. Some depositors had houses foreclosed or other property repossessed; some businesses failed, while others had to lay off workers. State representatives worked to make arrangements with federal agencies to ensure those who rely on direct-deposited government checks would receive them directly. The number of bankruptcies in the state increased by 62% between 1990 and 1991. The Rhode Island Community Food Bank had to distribute 30% more food than it did in 1990, totaling four million pounds. Some businesses tried to adapt with an eye towards