Are the Banks & Stock Market Open on New Year’s Eve & Day 2021-2022?

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The countdown is on to 2022, as Americans await the Times Square ball dropping in New York City. As a federal holiday, many businesses are closed on New Year’s Day, but can the same be said for New Year’s Eve? How do the holidays affect banks and the stock market? Here is what you need to know:


Most Banks Are Closed on New Year’s Day

Banks typically open throughout the week between 8 and 9 a.m. and close between 4 and 6 p.m., according to Policygenius. However, federal holidays often disrupt that schedule.

According to Insider, most financial institutions across the country follow the Federal Reserve System’s schedule of observed holidays. The publication noted that since New Year’s Eve is not a federal holiday, most banks will be open on December 31, 2021.

New Year’s Day,  however, is featured on the observed holidays, as are Veterans Day, the Birthday of Martin Luther King, Jr., Washington’s Birthday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Columbus Day (Indigenous People’s Day is often observed in its place), Thanksgiving Day and Christmas Day.

This year is no different. The below list of banks will be closed in observance of New Year’s Day, with some banks featuring truncated hours on New Year’s Eve. Online banking remains largely open and many call centers are still running. Click on your bank for exact details:

Some branches and private banks observe a different schedule. If you have any questions, verify with your local bank.


The Stock Market Is Open on New Year’s Eve

According to USA Today, the New York Stock Exchange and Nasdaq will remain open on New Year’s Eve, while bond markets are set to close at 2 p.m. on December 31, 2021.

According to the New York Stock Exchange’s website, there is a list of 10 holidays observed in all markets. Those include New Year’s Day, Martin Luther King, Jr. Day, Washington’s Birthday, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.

However, this year New Year’s Day will not be observed, with Barron’s citing rule 7.2. It states:

“When a holiday observed by the Exchange falls on a Saturday, the Exchange will not be open for business on the preceding Friday and when any holiday observed by the Exchange falls on a Sunday, the Exchange will not be open for business on the succeeding Monday, unless unusual business conditions exist, such as the ending of a monthly or yearly accounting period.”

The stock market remains open during another commonly observed bank holiday – Columbus Day. Celebrating Indigenous People’s Day in its place is becoming more widespread.

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