depositary/depository:
(plural: ‘depositaries‘/depositories‘; the word opposite in meaning: ‘depositor’ ← ← previous entry)
a person that keeps things, especially money, safely and returns to the depositor when asked for; a trustee (the spelling ‘depositary’ is more commonly used in this context);
a financial institution (bank or trust) that keeps things, especially money, safely, and returns to the depositor when needed (the spelling ‘depository’ is more commonly used in this context),
(a volunteer working at the Chicago Food Depository)
In the past, a goldsmith not only made gold ornaments for the rich but also acted as a depositary for those gold ornaments.
In some villages in Asia, farmers and labourers leave their valuables and money with the village head or the trader for safekeeping, trusting them as their depositaries.
In this financial meltdown, more and more depositories are finding themselves in a hot spot as more and more suspicious depositors have started withdrawing their deposits from their accounts.
a Japanese depositary, one of may depositaries facing problems
that reports about the depositaries in Russia, please click here.
About the Author:BC Kumar
BC Kumar, an English Language Teacher, taught in numerous countries including Ethiopia, Oman and India, shares his knowledge and passion for the English Language. Disclaimer: This is a free educational website and all content has been compiled by the author. All copyrights to images and videos belong to their respective owners.
