A depositary is an individual, institution, or location that holds something in trust for safekeeping, typically money, securities, or valuable documents. It acts as a custodian, ensuring the protection and security of the deposited items. The responsibilities often include providing records, managing withdrawals, and adhering to legal and regulatory requirements. The depositary plays a critical role in financial markets and other areas where the secure storage and management of assets are essential. They provide a level of security which safeguards the assets until they are claimed by the owner or any other authorized party.
Depositary meaning with examples
- The bank served as the depositary for the company's substantial cash reserves, providing a secure location and managing all transactions. The depositary offered online statements and convenient access to funds, essential for efficient business operations. Their robust security measures ensured no unauthorized withdrawals could occur, and providing confidence for the company's financial planning.
- Following the merger, a depositary was appointed to hold the shareholders' stock certificates until they could be exchanged for shares in the new entity. The depositary managed this complex process, ensuring all paperwork was handled efficiently and accurately, protecting the investors. This allowed them to ensure a smooth transition. Any concerns about the certificates were to be resolved with the depositary.
- The lawyer, acting as a depositary, kept the original will and power of attorney safely stored in a fireproof safe within the office. The depositary would provide the documents to the clients when required. This provided his clients with the necessary peace of mind, knowing their essential documents were secure and accessible. The lawyer ensured compliance with all regulations.
- Central securities depositaries (CSDs) play a crucial role in the financial infrastructure by acting as depositaries for stocks and bonds, settling trades, and minimizing risk. The depositary system guarantees the integrity of these transactions, ensuring that securities are transferred efficiently. Their functions help build trust within the market by facilitating rapid and reliable transaction settlements.
- An art collector used a specialized vault as a depositary for his priceless collection of paintings and sculptures, insured against theft, fire, and damage. The depositary offered climate control and security systems to preserve the art. This ensured protection of valuable art for posterity. The depositary provided constant monitoring, essential for safeguarding the art against any possible environmental hazards.
Depositary Synonyms
conservator custodian repository storehouse trustee vaultDepositary Antonyms
detractor disposer spendthrift squanderer transmitterDepositary Crossword Answers
7 Letters
DEPOSIT
10 Letters
DEPOSITORY REPOSITORY