A bank holiday is generally a public holiday. Banks are normally closed on all Federal holidays in United States. Nevertheless, the term ‘bank holiday’ specifically denotes emergency bank closures mandated by executive order of Congress to remedy fiscal crises. The holiday mandated by Emergency Banking Act of 1933 is probably the most prominent of these.
As far as history of bank holidays is concerned, Bank of England used to observe about 33 Saints’ days and religious celebrations as holidays but in 1834, this was drastically reduced to just four? May 1, November 1, Good Friday, and Christmas Day.
Bank holiday is observed in US on New Year’s Day that is January 1 and on Martin Luther King’s Day. Date of this day may change from year to year. A bank holiday is observed on Federal Reserve Banks Day in the month of February. Its date also varies according to year. USA commemorates births of George Washington (22.2.1732), and Abraham Lincoln (12.2.1809) as President’s Day. It also celebrates Memorial Day on the last Monday of May in tribute to the nation’s armed services personnel killed in wartime and the deceased in general.
Moreover, banks observe a holiday on Independence Day in the USA on the 4th of July. This day is a remembrance of the formal adoption of Declaration of Independence on July 4, 1776.
USA celebrates Labor Day on the first Monday in September, with parades. For most Americans it marks the end of summer holidays and beginning of classes for students. Christopher Columbus landed in the West Indies on October 12, 1492. Columbus Day is celebrated on the 2nd Monday of October to commemorate that day.
Furthermore, there is a bank holiday on Veterans Day, formerly Armistice Day to commemorate the end of First World War. Its date varies according to year. Thanksgiving Day is celebrated and observed as a bank holiday on this day. Its date also changes according to year. Apart from this, various states in USA have their own scheduled list of holidays in a year.
Related Articles of Interest :
-
Federal Holidays
10 August 2010 8:30 PM |
No Comments
Holidays are an integral part of every culture and are derived from amalgamation of two words ‘Holy’ and ‘Days’. Synonymous with celebration, holidays in the USA are not religious, but are mostly commemorative. In America there are ten holidays which have been designated federal holidays...
-
Chinese Holidays
10 August 2010 8:30 PM |
No Comments
Like most other countries, China celebrates New Year’s Day on the 1st of January, and Labor Day on May 1st. An anti-imperialist, cultural, and political movement took place in China on May 4, 1919. It marked the rise of Chinese patriotism and a re-evaluation of...
-
Jewish Holidays
10 August 2010 8:30 PM |
No Comments
Jews, the followers of Judaism, are famous for their ethnic and historic culture. Jews observe a number of holidays, most of which are of religious significance. Rosh Hashanah, Tzom Gedaliah, Rosh Chodesh Iyar, Yom Kippur, Sukkot, Shmini Atzeret, Fast of Esther, Purim, Tu B’Shvat, Counting...
-
World Holidays
10 August 2010 8:30 PM |
No Comments
A holiday can be termed as time spent away from home or business, in travel or amusement. It can also mean a day, reserved by a country or culture, usually for celebration or for some other type of special observance or activity. Holidays can be...
-
Mexican Holidays
10 August 2010 8:30 PM |
No Comments
Holidays unanimously symbolize relaxation and fun. Known for its enticing aromas of organic coffee and mouthwatering menus, Mexican culture is an amalgamation of the old and the modern. Holidays observed here are rooted in their rich culture and religious beliefs, which form the basis of...
-
Holidays
10 August 2010 8:30 PM |
No Comments
Synonymous with fun, frolic and relaxation, holidays are an integral part of every culture. Whether religious, ceremonial or commemorative, holidays give a break from routine to rejuvenate oneself. Religious holidays signify the celebration of some ancient custom or ceremony rooted in a country’s culture. Spanning...
-
Jamaican Holidays
10 August 2010 8:30 PM |
No Comments
Holidays in Jamaica include Christian holidays as well as Labor Day (May 23), Independence Day (6 August), Emancipation Day (1 August), and National Heroes Day (18 October). These holidays provide an opportunity for tourists to experience the true essence of Jamaica through its varied culture...
-
Favorite Holidays
10 August 2010 8:30 PM |
No Comments
An idea of favorite holidays can include a large list of destinations according to tastes and preferences of an individual. Choice for a holiday destination may depend upon various factors like a solitary holiday or a vacation with family and kids or close friends and...
-
An Introduction To Belize
10 August 2010 8:30 PM |
No Comments
Belize is found in Central America, bordered by the Caribbean Sea northwest of Mexico and southwest of Guatemala. History Between 1500 BC and 900 AD, the Maya civilization occupied Belize. The first European settlers arrived only during the 16th century. British settlements started pouring in...
-
Fathers Day History
10 August 2010 8:30 PM |
No Comments
Father’s Day has today become a global symbol of expressing love and respect to one’s father. Sons and daughters all over the world make it a point to take some time off and meet their father on this day. Father’s Day has religious as well...