Depositary

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Depositary

An agent appointed for a Tender or Exchange Offer who accepts certificates from shareholders, processes them and assures that the appropriate cash or new securities are properly remitted to the tendering party.

Depositary

1. A person entrusted with something of value, especially an agent in an exchange offer. The depositary in this sense acts as a go-between for the persons or firms making a transaction, ensuring that all securities and/or cash are given to the appropriate recipients.

2. A person or firm who keeps assets or securities on behalf of a client; for example, a bank. See also: Depository.
References in periodicals archive ?
On the other hand, depositories provide a smaller proportion of home purchase and refinancing loans to minorities than do independent mortgage companies.
The deductible is based on the size of the borrower and reflects the presumption that larger depositories have greater access to market sources of funds and therefore should have less need for seasonal credit.
Affiliates of depositories also purchased a significant proportion of lower-income mortgages for their risk portfolios.
The cut in requirements reduced required balances at Reserve Banks for many depositories to below the balances needed for precautionary purposes, and the federal funds rate consequently became very volatile.
If required reserve and required clearing balances dropped to very low levels, there would be increased risks of overnight overdrafts on the accounts of depositories in Reserve Banks.
Depositories serve as custodians and settlement agents for financial transactions.
The success of the immobilization within depositories of corporate debt, with approximately 75 percent of all outstanding corporate debt (and much higher percentages of recent issues) held in depositories, makes global book-entry the logical choice.
Payment of explicit interest on contractual clearing balances could result in an increase in the level of these balances; some depositories are currently constrained in the amount of such credit-earning balances they can hold because of their limited use of Federal Reserve services.
The Central Depositories of Bulgaria and Romania have signed a cooperation agreement, thus establishing a direct link with each other.
At present, the National Bank of the Kyrgyz Republic functions as a depository for state securities; four licensed depositories work with corporate securities.
Addison-based Dillon Gage, which runs private precious metal depositories in Delaware and Toronto, noted that CME membership would give the Texas depository a "certain reputational weight" and predicted that the CME would likely waive its geographic restrictions "for a state-run depository.
As depositories, the Reserve Banks provide payment-related services--handling the government checking account and disbursements and collections.