From Longman Business Dictionarydeposit protection funddeˌposit proˈtection ˌfund noun [countable] BANKINGFINANCEin Britain, an amount of money that is paid into a central organization by banks and will be paid to people who lose money if a bank goes BANKRUPTThe country’s deposit protection fund but has yet to pay 5,000 savers who lost £42 million when its Savings and Investment Bank collapsed. → fund
