DEFINITION of 'Bank Holiday'

Any business day during which commercial banks and savings & loans institutions are closed for business to the public, specifically at physical locations. These holidays usually coincide with federal holidays in the United States, but each country defines is own bank holidays.

Infrequently, a bank holiday can also refer to a day where there is an emergency bank closure to avert a bank run. This type of bank holiday occurred as a result of the Emergency Banking Act of 1933 during the Great Depression in the United States.

BREAKING DOWN 'Bank Holiday'

In the United States, scheduled bank holidays do not necessarily coincide with stock market or capital market holidays, although they do tend to be federal holidays. There will never be two consecutive business days that are scheduled bank holidays (during which banks are closed to the public.)

Most online banking systems will still allow access by customers even on bank holidays.

RELATED TERMS
  1. Business Day

    A measurement of time that typically refers to any day in which ...
  2. Valium Picnic

    A market holiday or a slow trading day.
  3. Limited Service Bank

    Any type of banking business facility that is located separately ...
  4. Business Banking

    A company's financial dealings with an institution that provides ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. National Bank

    In the United States, a commercial bank chartered by the comptroller ...
Related Articles
  1. Investing

    7 Ways To Make Money This Holiday Season

    Everybody needs extra cash during the holidays. These seven options give you plenty of ways to fatten up your wallet.
  2. Investing

    4 Best Holiday Jobs

    These part-time jobs are a great way to earn a little extra money around Christmastime.
  3. Personal Finance

    2016 Back-to-School Tax Holidays May Be Skimpier

    This year's back-to-school tax holidays are shorter and less generous than in years past. Here's why.
  4. Personal Finance

    Average Cost Of An American Christmas

    Here's a look at how much the average American family is expected to spend this holiday season.
  5. Insights

    Let the Holiday Season Bidding War for Labor Begin (AMZN, WMT)

    As companies prepare for the holiday season rush there is likely to be intense competition for low-wage labor resulting in upward pressure on wages.
  6. Insurance

    Why the Holidays Are a Good Time to SellĀ  Your House

    People sell their homes during the spring, but there are benefits to selling during the holidays. Buyers are serious, and there's less inventory to compete with.
  7. Personal Finance

    8 Ways to Maximize Your Holiday Budget

    The holidays will only wreck your budget if you let them.
  8. Personal Finance

    Goodbye, Black Friday; Hello, Green Monday

    We look at the impact of Green Monday and see whether it will change the way people shop and businesses sell.
  9. Investing

    5 Worthwhile, Inexpensive Christmas Destinations

    Is your family looking to go some place exotic for the holidays this year? We tell you about five inexpensive places to visit.
  10. Personal Finance

    Tips For Avoiding A Holiday Spending Hangover

    You don't have to go into debt to have a happy and memorable holiday season. Use these tips for a bountiful Yuletide on a Scrooge-like budget.
RELATED FAQS
  1. On what days are the American stock exchanges closed?

    Similar to most businesses, the major stock markets in North America are open for trading on normal business days only (Monday ... Read Answer >>
  2. How does investment banking differ from commercial banking?

    Discover how investment banking differs from commercial banking, the responsibilities of each and how the two can be combined ... Read Answer >>
  3. How do commercial banks make money?

    Learn the different ways commercial banks make money, including interest from loan products and banking fees charged to customers. Read Answer >>
  4. What economic indicators are important to consider when investing in the banking ...

    Find out which economic indicators are most useful for investors in the banking sector, especially those influenced by central ... Read Answer >>
  5. What is the average profit margin for a company in the banking sector?

    Learn what the average profit margin is for companies in the banking sector, along with other evaluation metrics often used ... Read Answer >>
  6. How do investment banks help the economy?

    Learn more about the functions of investment banks in a modern economy and how investment banks have been treated differently ... Read Answer >>
Trading Center