safekeeping

noun
safe·​keep·​ing | \ ˈsāf-ˈkē-piŋ How to pronounce safekeeping (audio) \

Definition of safekeeping

1 : the act or process of preserving in safety
2 : the state of being preserved in safety

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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 on the Web

In the middle of it all, Archaeological Superintendent Amedeo Maiuri and his colleagues moved several statues and artifacts from Pompeii underground for safekeeping. Kiona N. Smith, Ars Technica, "Unexploded World War II bombs may still be buried at Pompeii," 8 July 2019 The blastocysts grew for 13 days before researchers froze them for safekeeping. Rebecca Boyle, Discover Magazine, "The Quixotic Quest to Birth a Baby Northern White Rhino," 25 June 2019 For safekeeping, the driver's father took a .38-caliber pistol that police noticed on the bed in Solon, and the driver agreed to seek treatment after police left. Thomas Jewell, cleveland.com, "Fleeing Solon man charged in crash causing Memorial Day power outage: Bentleyville Police Blotter," 21 June 2019 Although the Libra Reserve will be mostly independent of Facebook, the firm will offer its own digital wallet, Calibra, for consumers who want to hand over the key to their digital currency for safekeeping—and with it, their personal financial data. The Economist, "What Facebook’s new currency means for the banking system," 20 June 2019 The museum’s most precious items — including a dollhouse created in the late 1800s by the town’s infamous cannibal hiking guide, Alfred Packer — were sent to Gunnison for safekeeping. Elise Schmelzer, The Denver Post, "18,000 sandbags later, Lake City flood fears diminish even as rivers rise across southwestern Colorado," 16 June 2019 When the staff at the Kringle Kitchen temporarily accept the store’s beloved ‘Mailbox to Santa’ for safekeeping, the townspeople find and rally around a mysterious 25-year-old letter that never made it to the North Pole. Christopher Rosa, Glamour, "10 TV Shows and Movies to Watch This Week," 25 Nov. 2018 The very first sequins were coins, sewn into clothes for safekeeping. Jamie Lauren Keiles, Vox, "Flip sequins are the weird, glitzy fabric that kids can’t get enough of," 27 Nov. 2018 On Tuesday, moving crews loaded sofas, beds, dining room sets and the rest of the store’s contents onto trucks that will haul them away for safekeeping. Scott Calvert, WSJ, "Facing Florence, Some North Carolinians Still Recovering From Previous Storms," 12 Sep. 2018

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.

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First Known Use of safekeeping

15th century, in the meaning defined at sense 1

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Dictionary Entries near safekeeping

safeguard

safehold

safe house

safekeeping

safelight

safen

safener

Statistics for safekeeping

Last Updated

23 Jul 2019

Look-up Popularity

Time Traveler for safekeeping

The first known use of safekeeping was in the 15th century

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More Definitions for safekeeping

safekeeping

noun

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).

Source: Investing Answers

safekeeping

noun

English Language Learners Definition of safekeeping

: the act of keeping something safe
: the state of being kept safe

safekeeping

noun
safe·​keep·​ing | \ ˈsāf-ˈkē-piŋ How to pronounce safekeeping (audio) \

Kids Definition of safekeeping

: the act of keeping safe : protection from danger or loss He gave me his watch for safekeeping while he went for a swim.

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More from Merriam-Webster on safekeeping

Rhyming Dictionary: Words that rhyme with safekeeping

Thesaurus: All synonyms and antonyms for safekeeping

Spanish Central: Translation of safekeeping

Nglish: Translation of safekeeping for Spanish Speakers

Comments on safekeeping

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