FDIC
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
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a federally sponsored corporation that insures accounts in national banks and other qualified institutions