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Safekeep

   Also found in: Dictionary/thesaurus, Legal 0.01 sec.
Safekeep
Holding by a bank of bonds and money market instruments. For a fee, the bank clips coupons and presents for payment at maturity.

Safekeeping
The act of a brokerage holding a client's securities or other assets on his/her behalf. This reduces the risk of the client losing his/her assets or having them stolen. They are also available to the brokerage to sell at the client's demand. Like a bank, safekeeping provides an investor a place to store assets with little risk. Unlike a bank, brokerages are not allowed to use the items in safekeeping for their own ends. Assets in safekeeping are not fungible for the brokerage because they remain in the client's name; for this reason, brokerages normally require a fee for safekeeping services. See also: Street name safekeeping.


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It also manages, safekeeps and administers the euro 11 trillion in assets that it holds on behalf of its customers.
Our fundamental philosophy is simple--first, we safekeep our customers' deposits," he explained.
Because some proceeds from securities sales were held at depository institutions, the Banks also began to safekeep collateral that was pledged to the Treasury to protect those funds.
 
 
 
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