Indeed. It is all about the produced sound. There's a format for that, but I'm not accustomed to it, so say phonetically there's "Ef Bee Eye". You could call th

Indeed. It is all about the produced sound. There's a format for that, but I'm not accustomed to it, so say phonetically there's "Ef Bee Eye". You could call the organization "Efbee Eye" or whatever, but why would you? "FBI" and "Feds" both work; they're both well accepted as it is.