Meaning of safekeep | Babel Free

Definitions

To keep safe; to preserve from harm or loss.

transitive

Examples

“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.”

CEFR level