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Custodian
A person or entity that holds and safeguards assets on behalf of another entity.
More Details
A custodian is a person or entity that holds and manages financial assets on behalf of another person or entity. Custodians are typically responsible for the safekeeping of these assets, as well as the execution of trades and the settlement of transactions.
Example
If you open a youth account for your child, you or another adult would be added as a custodian on the account to oversee and assist with its safe management.
Related Terms
Adjustable Rate Mortgage (ARM)
A home loan with an interest rate that is fixed for a certain period, after which it may fluctuate with the market.
Credit Limit
The maximum amount of credit that a financial institution or other lender will extend to a borrower.
Forged Check
A check that has been altered or created without the permission of the person or entity named as the payee. It is a form of fraud.