Has this ever happened to you?
You wake up excited to place a trade, deposit a big check, or withdraw money from your account only to learn that the U.S. financial markets or your bank are closed.
Or you’re waiting anxiously for payday to come only to find out it’s not happening until a day later because the banks are closed.
Know the difference between bank holidays and market holidays and when they occur so that you don’t get caught off guard like that again.
MARKET HOLIDAYS DO NOT ALWAYS COINCIDE WITH BANK HOLIDAYS, EVEN IF THE SCHEDULES MAY APPEAR IDENTICAL AT FIRST GLANCE.
Grab your 2023 calendar and set reminders or notifications of the market and bank holidays for this year.
What is considered a Market Holiday?
A non-weekend day on which the U.S. financial markets are closed.
This includes the stock market and bond markets, typically. If you want to buy or sell an investment such as a stock, ETF, mutual fund or bond, it’s important to know when the trading days are closed.
What is considered a Bank Holiday?
A non-weekend day which most commercial banks and savings institutions are closed to the public.
While all Federal Banks and branches are closed, it is important to know that not every bank observes the holidays below; so, be sure to check your bank’s holiday schedule.
2023 Market Holidays
- New Year’s Day – January 2, 2023
- Martin Luther King, Jr. Day – January 16, 2023
- Washington’s Birthday – February 20, 2023
- Good Friday – April 7, 2023
- Memorial Day – May 29, 2023
- Juneteenth National Independence Day – June 19, 2023
- Independence Day – July 4, 2023
- Labor Day – September 4, 2023
- Thanksgiving Day – November 23, 2023
- Christmas Day – December 25, 2023
2023 Bank Holidays
- New Year’s Day – January 2, 2023
- Martin Luther King, Jr. Day – January 16, 2023
- Washington’s Birthday – February 20, 2023
- Memorial Day – May 29, 2023
- Juneteenth National Independence Day- June 19, 2023
- Independence Day – July 4, 2023
- Labor Day – September 4, 2023
- Columbus Day – October 9, 2023
- Veterans Day – November 10, 2023
- Thanksgiving Day – November 23, 2023
- Christmas Day – December 25, 2023
THE BOTTOM LINE:
When we invest the markets or deposit funds into a bank account for safekeeping, we’d like to think that we have full control over when we can access that money at all times. But market and bank holidays, along with regularly scheduled business hours, proves there are limits to that accessibility — at least temporarily.
The key is to be informed and plan ahead, so you’ll never feel like you’re limited in accessing your money.
