Meaning of FDIC in English

( in full Federal Deposit Insurance Corporation )

an independent US government organization that provides insurance for bank accounts. It was created in 1933, and all Federal Reserve Banks are covered by its insurance. If a bank fails, the FDIC can give each customer up to $100 000. Since 1989 it has also controlled the Savings Association Insurance Fund after savings and loan associations failed in the 1980s.

Oxford guide to British and American culture English vocabulary.      Руководство по британской и американской культуре, Оксфордский английский словарь.