safe⋅keep⋅ing
[seyf-kee-ping] 
pɪŋ
| the act of keeping safe or the state of being kept safe; protection; care; custody. |
Based on the Random House Dictionary, © Random House, Inc. 2009.
Cite This Source
| safe·keep·ing (sāf'kē'pĭng) n. The act of keeping safe or the state of being kept safe; protection. |
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source
Safekeeping
The storage of assets or other items of value in a protected area.
Individuals may use self-directed methods of safekeeping or the services of a bank or brokerage firm. Financial institutions are custodians and are therefore legally responsible for the items in safekeeping.
Also known as "safekeep".
Investopedia Commentary
Individuals who place an asset in safekeeping are also issued a safekeeping receipt. These receipts indicate that the asset of the individual does not become an asset of the institution and that the asset may be returned to the individual upon request. A fee may be required for these services.
See also: Agent, Bank, Custodian, Deposit
Also spelled: safe-keeping safe keeping
Cite This Source
safekeeping
- The keeping of assets, including securities, by a financial institution.
Copyright © 2003. Published by Houghton Mifflin.
Cite This Source
Copyright © 2009, Dictionary.com, LLC. All rights reserved.
