Understanding Today's Crossword Puzzle
Today's clue is "Bank acct. backer" and the answer for this clue is "FDIC". Let's break down the clue and see why the answer is FDIC.
- Bank: The clue starts with the word "Bank," indicating that we are looking for something related to a bank or banking.
- Acct.: The next part of the clue is the abbreviation "Acct." which is short for "account." This suggests that we are looking for something associated with a bank account.
- Backer: The final part of the clue is "backer." A backer is someone who supports or guarantees something. In the context of a bank account, a backer could refer to an organization that provides protection or insurance for the account.
Putting it all together, the answer to the clue "Bank acct. backer" is "FDIC." The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that provides deposit insurance for bank accounts. It guarantees that depositors' funds, up to a certain limit, are protected even if the bank fails.
The FDIC plays a crucial role in maintaining stability and confidence in the banking system. Its presence reassures account holders that their money is safe, which encourages people to deposit their funds in banks and helps support the overall economy.
So, in today's crossword puzzle, the clue "Bank acct. backer" leads us to the answer "FDIC," highlighting the agency responsible for guaranteeing the safety of bank accounts.
Definition of "FDIC"
Federal Deposit Insurance Corporation, a body which underwrites most private bank deposits in the US.
The Crossword clue "Bank acct. backer" published 1 time/s & has 1 answer/s.
Crossword | Date | Answer |
Newsday.com | 14 December 2017 | FDIC |