Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

is today, Columbus Day, Monday, October 8, 2007 a national banking holiday?

0
Posted

is today, Columbus Day, Monday, October 8, 2007 a national banking holiday?

0

A “national banking holiday” in the United States means an emergency closure of all banking institutions, ordered by the President or the Congress. An annual event would never be a national banking holiday. (see: http://en.wikipedia.org/wiki/Bank_holiday#United_States ) Columbus Day is one of the eleven National Holidays of the United States (See: http://en.wikipedia.org/wiki/Federal_holiday ). And in general, private banking institutions tend to follow the Federal holiday schedule and are closed on all eleven of those days (but there is no rule or law stating that they have to). Note that just being a Federal Holiday does not guarantee that it is a State Holiday for all 50 states. For example, Nevada does not recognize the day, and all Nevada state offices and schools are open. South Dakota chooses to observe “Native American Day” instead of Columbus Day. If your question was actually asking about national banking holidays in the United Kingdom, the answer is no, it is not.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123