Source : Free On-Line Dictionary of Computing

Federal Information Processing Standards
     
         (FIPS) United States Government technical
        {standards} published by the {National Institute of Standards
        and Technology} (NIST).  NIST develops FIPS when there are
        compelling Federal government requirements such as for
        security and {interoperability} but no acceptable industry
        standards or solutions.
     
        Computer-related products bought by the US Government must
        conform to FIPS.
     
        (2003-06-04)