Wednesday, June 29, 2022

Are banks and the stock exchange open or closed on June 16, 2022?

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Last year, June 16 was declared a federal holiday for the first time. But due to the closeness of the declaration to the actual holiday, many federal services were still operational. What is happening this year on Monday 20th June 2022? Are banks or stock market open or closed today due to June 16th?

Although June 19 technically falls on June 19, this year that date fell on a Sunday. For this reason, June 16 is officially celebrated by the federal government today, Monday, June 20. This means that many banks will be closed today.

According to their website, the Federal Reserve will close today. The website reads, “Sunday – the Federal Reserve Banks and Board of Governors are closed on June 20, 2022, December 26, 2022, and January 2, 2023.”

Next year, 2023, the Federal Reserve will close on June 19 because the holiday does not fall on a Sunday.

Most banks are closed on public holidays. So expect banks in your area to be closed today. However, the ATMs will continue to operate.

The Federal Reserve notes that in addition to June 16, the following holidays are currently observed: New Year’s Day, Martin Luther King, Jr.’s Birthday, Washington’s Birthday, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day .

The stock market is also closed today, the Wall Street Journal reported. This is the first time that stock markets are closed to mark the June 16th holiday. Both the Nasdaq and the New York Stock Exchange will remain closed on Monday, June 20th.

The New York Stock Exchange observes all US holidays. Other holidays on which the NYSE is closed include New Year’s Day, Martin Luther King, Jr. Day, Washington’s Birthday, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas.

According to the observed Nasdaq holiday calendar, the US Nasdaq stock and options markets are also closed today. Other holidays on which the Nasdaq is closed include New Year’s Day, Martin Luther King, Jr. Day, President’s Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas.

When you buy or sell bitcoin or other cryptocurrencies, you do so online and not on the exchange. So buying and selling for these will continue as normal today. Cryptocurrencies can be bought or sold at any time of the day or night and are not paused to observe holidays like the stock market does.

On June 17, 2021, when President Joe Biden signed the June 16 bill into law, he said in part:

June 16 marks the first new federal holiday since 1983, NBC Connecticut reported.

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