How Many US Bank Holidays?
In the United States, the number of bank holidays varies from year to year, as these days are often based on specific dates or events. Generally, there are around 10 to 11 federal holidays observed across the country, including both fixed and movable dates. However, this number can change due to various factors such as changes in federal law or the occurrence of special events.
Fixed Federal Holidays
The majority of US bank holidays are fixed federal holidays, which are observed on the same date each year. These include:
1. New Year’s Day (January 1st)
2. Martin Luther King Jr. Day (Third Monday in January)
3. Washington’s Birthday (Third Monday in February)
4. Memorial Day (Last Monday in May)
5. Independence Day (July 4th)
6. Labor Day (First Monday in September)
7. Columbus Day (Second Monday in October)
8. Veterans Day (November 11th)
9. Thanksgiving Day (Fourth Thursday in November)
10. Christmas Day (December 25th)
Movable Federal Holidays
Some federal holidays are based on movable dates, which are determined by the lunar calendar or other specific events. These include:
1. Good Friday (Friday before Easter Sunday)
2. Easter Monday (Monday after Easter Sunday)
Local Bank Holidays
In addition to federal holidays, some banks may also observe local bank holidays. These are specific to a particular state or region and are often based on local events or traditions. For example, some banks in states like Texas and Maine may close on Texas Independence Day or Maine Independence Day, respectively.
Changes in Federal Law
The number of US bank holidays can also change due to changes in federal law. For instance, in 1971, Congress passed the Uniform Monday Holiday Act, which moved several holidays to Mondays to create longer weekends. This resulted in the addition of Martin Luther King Jr. Day and Columbus Day as federal holidays.
Conclusion
In conclusion, the number of US bank holidays typically ranges from 10 to 11, including both fixed and movable federal holidays. However, this number can vary due to changes in federal law or the occurrence of special events. While most banks observe these federal holidays, some may also close on local bank holidays specific to their region.
