Safekeep
Definition, Meaning & Examples
Part of speech verb
Quick meaning: Safekeep is a verb meaning (transitive, chiefly finance) To keep safe; to preserve from harm or loss.
Meaning
(transitive, chiefly finance) To keep safe; to preserve from harm or loss.
Example Sentences
If a customer wants $1 million of General Motors Acceptance Corporation (GMAC) paper, the bank carries out the transaction between the customer and GMAC and safekeeps the paper for the customer until it matures.
During the mid-1960s, Federal Reserve officials focused on developing institutional arrangements that would facilitate the conversion to book-entry form of definitive securities already safekept at Reserve Banks; they did not address the possibility of a larger system.
Word Forms
- safekeeps
- safekeeping
- safekept
Related Words
Related dictionary entries include guardianship, keeping, safeguarding, safeguard, protection, conservation.
Related Dictionary Tools
Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
Dictionary data is provided by FreeDictionaryAPI.com and sourced from Wiktionary under its stated license.