a US government organization which exists to protect people's bank accounts. If your bank is a member of the FDIC and it cannot pay its debts, the FDIC will pay you the amount that you kept in the bank, up to $100,000.
Definition from the Longman Dictionary of Contemporary English Advanced Learner's Dictionary.
Dictionary pictures of the day
Do you know what each of these is called?
Click on any of the pictures above to find out what it is called.