FDIC

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Definition

Noun: A federally sponsored corporation that insures accounts in national banks and other qualified institutions. It is a specific, capitalized acronym referring to a particular U.S. government entity.

Usage

The word "FDIC" is a proper noun. It is used to refer specifically to the Federal Deposit Insurance Corporation. It is almost always used with the definite article "the" and is treated as a singular entity. * The FDIC was created in 1933. * Is your bank covered by the FDIC? * The FDIC insures deposits up to a certain limit.

Advanced Usage
  • FDIC-insured: A compound adjective describing an account or institution protected by the FDIC.
    • I only keep my money in an FDIC-insured savings account.
  • In financial and regulatory contexts, "FDIC" can be used attributively (like an adjective) before other nouns.
    • The bank must comply with FDIC regulations.
    • We received an FDIC guarantee.
Variants and Related Words
  • Federal Deposit Insurance Corporation: The full, formal name for the FDIC.
  • Deposit insurance: The general concept or system of protecting bank deposits, of which the FDIC is the U.S. provider.
Synonyms
  • Deposit insurer (general term)
  • Federal insurer (general term)

Note: There are no direct synonyms for the specific acronym "FDIC" as it is a unique entity. The synonyms provided are for the general function it performs.

Related Phrases
  • FDIC coverage: The protection provided by the FDIC.
    • What is the maximum amount of FDIC coverage per account?
  • Backed by the FDIC: A phrase indicating an account is protected.
    • Your money is safe because it's backed by the FDIC.
Noun
  1. a federally sponsored corporation that insures accounts in national banks and other qualified institutions

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