What is the difference between depository and repository

A place where anything is deposited for sale or keeping; as, warehouse is a depository for goods; a clerk's office is a depository for records. A place where things are or may be reposited, or laid up, for safety or preservation; a depository.

Published: 23 Apr, Depository noun A place where something is deposited, as for storage, safekeeping, or preservation; a repository. Repository noun A location for storage, often for safety or preservation. Depository noun A trustee; a depositary. Repository noun computing a storage location for files, such as downloadable software packages, or files in a source control system.

Depository noun A place where anything is deposited for sale or keeping; as, warehouse is a depository for goods; a clerk's office is a depository for records.

Repository noun A burial vault. Depository noun One with whom something is deposited; a depositary. Repository noun figurative A person to whom a secret is entrusted. Depository noun a facility where things can be deposited for storage or safekeeping.

Repository noun dated A place where things are kept for sale; a shop. Repository noun A place where things are or may be reposited, or laid up, for safety or preservation; a depository. Repository noun a facility where things can be deposited for storage or safekeeping. Repository noun a person to whom a secret is entrusted.

Repository noun a burial vault usually for some famous person. Popular Comparisons. A depository must return the deposit in the same condition upon request. As mentioned above, depositories are buildings, offices, and warehouses that allow consumers and businesses to deposit money, securities, and other valuable assets for safekeeping. Depositories may include banks, safehouses, vaults, financial institutions , and other organizations. Depositories serve multiple purposes for the general public.

First, they eliminate the risk of holding physical assets to the owner. For instance, banks other financial institutions give consumers a place to deposit money into time and demand deposit accounts. A time deposit is an interest-bearing account and has a specific date of maturity such as a certificate of deposit CD , while a demand deposit account holds funds until they need to be withdrawn such as a checking or savings account.

Deposits can also come in the form of securities such as stocks or bonds. When these assets are deposited, the institution holds the securities in electronic form also known as book-entry form , or in dematerialized or paper format such as a physical certificate.

These organizations also help create liquidity in the market. Customers give their money to a financial institution with the belief the company holds it and gives it back when the customer wants it back.

These institutions accept customers' money and pay interest on their deposits over time. While holding the customers' money, the institutions lend it to others in the form of mortgage or business loans, generating more interest on the money than the interest paid to customers. Transferring the ownership of shares from one investor's account to another account when a trade is executed is one of the primary functions of a depository.

This helps reduce the paperwork for executing a trade and speeds up the transfer process. Another function of a depository is the elimination of risk of holding the securities in physical form such as theft, loss, fraud, damage, or delay in deliveries.

An investor who wants to purchase precious metals can purchase them in physical bullion or paper form. Gold or silver bars or coins can be purchased from a dealer and kept with a third-party depository. Investing in gold through futures contracts is not equivalent to the investor owning gold. Instead, gold is owed to the investor. A trader or hedger looking to take actual delivery on a futures contract must first establish a long buy futures position and wait until a short seller tenders a notice to delivery.

With gold futures contracts, the seller is committing to deliver the gold to the buyer at the contract expiry date. The seller must have the metal—in this case, gold—in an approved depository.

This is represented by holding COMEX approved electronic depository warrants which are required to make or take delivery.

Seriously though, they are nearly identical in meaning. However, depository sounds more like a place where storage is meant to be for a long period of time, left untouched. Repositories are meant to be a temporary storage area.

I like this definition--doesn't make it correct but I like it. Students: Are you brave enough to let our tutors analyse your pronunciation? Answer this Question. Ask a Question. Present Vs Gift? In actual usage, depository is reserved for financial contexts. Remember Depository vs. Repository: Since depository is related to deposit , which is a common banking term, you should have little trouble linking this word to financial contexts in your mind.

Is it depository or repository? Depository and repository are both nouns that mean a place to put things. While they can be synonyms, depository is only used in contexts involving depositing money. If you are writing in a professional context involving finance, be sure to know the difference between these terms before you write.