Examples of safekeeping in a Sentence
His will is in safekeeping with his lawyer.
while she was away on business, the single mom entrusted her daughter into her in-laws' safekeeping
Recent Examples of safekeeping from the Web
The seven other dogs, all pit bull mixes, on the property, were removed for safekeeping.
That night Robey and his wife put the briefcase under their mattress for safekeeping.
George waited until his brother was asleep, then stashed the gun in his truck for safekeeping.
Officers took the mower for safekeeping after arresting the man on an outstanding warrant.
The notebooks are in storage for safekeeping and only examined once every 10 years.
When that doesn’t work, a second firefighter climbs all the way into the bin to reach the boy before the team hands him over to his mother for safekeeping.
At the start of any big-ticket rental agreement – housing, a vehicle, equipment – take pictures and notes of the original condition, and stash them for long-term safekeeping.
After Diane's death, Tex asked his buddy Sheriff Sills to go out to his ranch and collect his guns for safekeeping.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'safekeeping.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of SAFEKEEPING
What It Is
Safekeeping is a term describing a financial institution's responsibility to keep clients' assets in a safe area.
How It Works
Let's say John Doe deposits $4,000 into his savings account at Bank XYZ. Bank XYZ has an obligation to keep John's $4,000 separate and apart from its own accounts that it uses to pay the bank employees and other expenses.
Similarly, John Doe's brokerage firm has a responsibility to keep the money in his account separate from the brokerage firm's own cash and house accounts.
Why It Matters
One of the fundamental purposes of the entire banking industry is safekeeping. That is, they provide people with a safe place to keep their money until they need it.
A safekeeping certificate is a document that proves that a person owns a security or a CD. American Depository Receipts (ADRs) are some of the most common forms of safekeeping certificates. Issued by U.S. banks, American Depository Receipts (ADRs) are certificates that represent shares of a foreign stock owned by the issuing bank. The foreign shares are usually held in custody overseas, but the certificates trade in the U.S. Through this system, a large number of foreign-based companies are actively traded on one of the three major U.S. equity markets (the NYSE, AMEX or Nasdaq).
SAFEKEEPING Defined for English Language Learners
Definition of safekeeping for English Language Learners
: the act of keeping something safe
: the state of being kept safe
SAFEKEEPING Defined for Kids
Definition of safekeeping for Students
Seen and Heard
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