Depository Meaning: Definition, Examples, and Translations
๐ฆ
depository
[dษชหpษzษชtษri ]
Definition
storage location
A depository is a place where something is stored for safekeeping, such as documents, money, or other valuables. In finance, a depository can refer to a financial institution where securities are held in electronic form. These institutions provide services that ensure the safekeeping of assets and facilitate transactions. Depositories are essential for managing investments and ensuring the smooth operation of the securities market.
Synonyms
archive, repository, storage, warehouse.
Examples of usage
- The bank acts as a depository for customer funds.
- They decided to use a safe depository for their important documents.
- The depository holds all the companyโs financial records.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Finance
- In finance, a depository is a bank or institution that holds securities on behalf of investors.
- Depository systems help streamline transactions by allowing electronic transfers instead of physical paper certificates.
- The first central securities depository was established in the USA in the 1970s, drastically changing how financial markets operate.
Legal Context
- Depositories can also refer to places where evidence or important legal documents are securely stored during legal proceedings.
- In many jurisdictions, laws ensure depositories follow strict regulations for the safekeeping of items.
- The concept of a depository can be important in real estate, where documents are held until the completion of a sale.
Cultural References
- In literature, a depository often represents a secretive place for hiding important information or treasures.
- Films and literature may depict depositories as vaults or hidden rooms filled with ancient manuscripts or treasures.
- In many cultures, the idea of a repository for knowledge, like libraries, echoes the function of a depository in preserving information.
Origin of 'depository'
Main points about word origin
- The word comes from the Latin 'deponere', meaning 'to put down' or 'to place aside'.
- It has been used in English since the 15th century to describe locations for storing goods.
- Related terms include 'depository institution', which typically means banks that hold people's money.
The term 'depository' comes from the Latin word 'deponere,' which means 'to put aside.' 'Depository' first appeared in English in the 17th century, signifying a place where items are deposited. Its usage evolved over time, particularly in financial contexts, where it became associated with institutions that store and safeguard securities and other financial assets. The growth of financial markets in the 20th century further formalized the role of depositories, leading to the establishment of centralized depositories that simplify the processing of securities transactions. The concept of a depository has expanded in modern usage, reflecting advancements in technology and finance, as well as a broader interpretation of the term to include digital storage solutions.