word
deposit insurance
dih-POZ-it in-SHOOR-ens
dɪˈpɒzɪt ɪnˈʃʊərənsListen
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Syllable breakdown
depositinsurance
Dictionary meaning
a government-backed guarantee that protects bank depositors against losses up to a specified limit if their bank fails; introduced in the United States through the Federal Deposit Insurance Corporation in 1933 following the banking panics of the Great Depression; reduces the incentive for depositors to engage in bank runs but creates moral hazard by insulating insured depositors from the consequences of their bank's risk-taking
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