December 16, 2022

Vol. XXXIX, No. 28

Legal Bank Holidays: 2023 Schedule

This issue serves as a reference to the Holiday Schedule for 2023 listed by legal definition and the dates upon which such holidays will fall.

Official holidays for state-chartered banks are governed by state law; Neb.Rev.Stat. § 62-301. If any holiday date falls on a Sunday, the following Monday shall be a holiday. If the date designated by the State for the observance of any holiday, except Veterans Day, is different from the date of observance of any such holiday pursuant to a federal holiday schedule, the federal holiday schedule will be observed. A bank may, at its own option, be open or closed on an official holiday provided that reasonable notice is given to the public in accordance with state statute. A holiday observance becomes important in determining liability under the UCC midnight deadline rule and must be considered carefully when planning to close on a Friday or Monday in lieu of a regularly scheduled holiday which might fall on Saturday or Sunday.

​12 U.S.C. § 95(b)(1) addresses the applicability of state banking holidays to national banks as follows:

• In the event of natural calamity, riot, insurrection, war or other emergency conditions occurring in any state whether caused by acts of nature or of man, the Comptroller of the Currency may designate by proclamation any day a legal holiday for the national banking associations located in that state. In the event that the emergency conditions affect only part of a state, the Comptroller of the Currency may designate the part so affected and may proclaim a legal holiday for the national banking associations located in that affected part. In the event any day is designated as a legal holiday for ceremonial or emergency reasons, for the state or any part thereof, that same day shall be a legal holiday for all national banking associations or their offices located in that state or the part so affected. A national banking association or its affected offices may close or remain opoen on such a state-designated holiday unless the Comptroller of the Currency by written order directs otherwise.

​​National banks may, in their discretion, either close or remain open on such a state-designated holiday unless the Comptroller of the Currency by written order directs otherwise. (Source: 12 U.S.C. § 7.3000)

A more detailed article, sample notices and pertinent statutory provisions may be found in the NBA Compliance Handbook: Volume I: Governance section titled "Bank Holidays."

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Official Federal Reserve System and State Holidays (2023)

Legal Definition | Date Observed

• ​New Year's Day (January 1) | Monday, January 2
• Martin Luther King's Birthday (3rd Monday in Jan.) | Monday, January 16
• President's Day (3rd Monday in Feb.) | Monday, February 20
• Arbor Day (Last Friday in April) | Friday, April 28*
• Memorial Day (Last Monday in May) | Monday, May 29
• Juneteenth National Independence Day | Monday, June 19
• Independence Day (July 4) | Tuesday, July 4
• Labor Day (First Monday in Sept.) | Monday, September 4
• Columbus Day (2nd Monday in Oct.) | Monday, October 9
• Veterans Day (Nov. 11) | Friday, November 10
• Thanksgiving Day (4th Thursday in Nov.) | Thursday, November 23
• Day after Thanksgiving | Friday, November 24*
• Christmas Day (Dec. 25) | Monday, December 25

* Although an official state holiday, the Federal Reserve Banks are open on Arbor Day and on the day after Thanksgiving.

NOTE: The Federal Reserve standard holiday schedule provides that if a holiday falls on a Sunday, the following Monday is observed as a holiday. For holidays falling on a Saturday, the preceding Friday is not observed as a holiday.

For future planning, an extended list of bank holiday schedules for 2024-2025 is found below:

Holiday
​New Year's Day
Martin Luther King's Birthday
President's Birthday
Arbor Day
Memorial Day
​Juneteenth National Independence Day
Independence Day
Labor Day
Columbus Day
Veterans Day
Thanksgiving Day
Day After Thanksgiving
Christmas Day

2024
​January 1
January 15
February 19
April 26
May 27
June 19
July 4
September 2
October 14
November 11
November 28
November 29
​December 25

2025
​January 1
January 20
February 17
April 25
May 26
June 19
July 4
September 1
October 13
November 11
November 27
November 28
​December 25

Full-Text PDF

The foregoing Compliance Update is for informational purposes only, and does not constitute legal advice. As a reminder, the NBA general counsel is the attorney for the Nebraska Bankers Association, not its member banks. The general counsel is available to assist members with finding resources to help answer their questions. However, for specific legal advice about specific situations, members must consult and retain their own attorney.