BROWSE

Safekeeping

What is 'Safekeeping'

Safekeeping is 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".

Explaining 'Safekeeping'

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.


Further Reading


Safe banking: Finance and democracy
www.jstor.org [PDF]
… Functio through Pure Reserve Banking would have benefits for both safekeeping and lending … us of finance and democracy, the Article also contributes to the economic and legal … 100% reserve- banking proposal during the Great Depression.6 The economics literature, however …

Historical perspectives on financial development and economic growthHistorical perspectives on financial development and economic growth
www.nber.org [PDF]
… Functio through Pure Reserve Banking would have benefits for both safekeeping and lending … us of finance and democracy, the Article also contributes to the economic and legal … 100% reserve- banking proposal during the Great Depression.6 The economics literature, however …

The law and economics of hedge funds: Financial innovation and investor protectionThe law and economics of hedge funds: Financial innovation and investor protection
heinonline.org [PDF]
… Functio through Pure Reserve Banking would have benefits for both safekeeping and lending … us of finance and democracy, the Article also contributes to the economic and legal … 100% reserve- banking proposal during the Great Depression.6 The economics literature, however …

Inputs, outputs, and a theory of production and cost at depository financial institutionsInputs, outputs, and a theory of production and cost at depository financial institutions
onlinelibrary.wiley.com [PDF]
… Functio through Pure Reserve Banking would have benefits for both safekeeping and lending … us of finance and democracy, the Article also contributes to the economic and legal … 100% reserve- banking proposal during the Great Depression.6 The economics literature, however …

Including estimates of the future in today's financial statementsIncluding estimates of the future in today's financial statements
meridian.allenpress.com [PDF]
… Functio through Pure Reserve Banking would have benefits for both safekeeping and lending … us of finance and democracy, the Article also contributes to the economic and legal … 100% reserve- banking proposal during the Great Depression.6 The economics literature, however …



Q&A About Safekeeping


Who are custodians and what do they do?

Custodians are financial institutions that store assets for individuals. They are legally responsible for the items in their care.

How does a safekeeper keep these items?

A safekeeper keeps these items by storing them in a secure location.

How much does it cost to place an item in safekeeping with a bank or brokerage firm?

It depends on where you put your money, but fees range from free at some banks to $20 per month at most brokerage firms (or more).

Who might need help with their safekeeping needs?

People who have large amounts of valuable items might benefit from hiring someone to help them with this task .

What is safekeeping?

Safekeeping is the storage of assets or other items of value in a protected area.

Who might need help protecting others ?

Anyone who wants to protect loved ones , friends ,

What does a custodian receive from an individual who places an asset in safekeeping?

A receipt indicating that the asset belongs to the individual, not to the institution, and can be returned upon request. The fee for this service varies by institution but is typically nominal.

Where do people use safes to keep their valuables?

People use safes to store their valuables in homes or businesses.

What are some other places where people may keep their valuables?

Other places where people may store their valuables include banks and vaults.

Who may use self-directed methods of safekeeping?

Individuals may use self-directed methods of safekeeping.

What are some of the things that can be kept safely?

Some of the things that can be kept safely include money, jewelry, and documents.

Who might need help with his or her own personal safety ?

Anyone who feels unsafe at home , at work , or while traveling could benefit from having another person watch over him or her .

What kind of person would benefit from having someone else handle his or her safekeeping needs ?

Someone who has many valuable possessions but not enough time on his hands could benefit from hiring someone else to take care of his belongings .

Who might need help protecting himself or herself ?

Anyone who feels like he or she is being threatened could benefit from having an extra set of eyes watching out for danger .

Why should you hire a professional to help you with your safekeeping needs?

You should hire a professional because they have experience keeping valuable items safe for others.

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