Meaning of bank deposit insurance

bank' depos"it insur"ance

Pronunciation: [key]
  1. the protection of bank deposits against the insolvency of banks in the U.S., up to a specified maximum per account that is revised periodically, under special insurance through the Federal Deposit Insurance Corporation.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.