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Is Good Friday 2020 a Bank Holiday?

Economic

Is Good Friday 2020 a Bank Holiday?

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heavyGood Friday is NOT a federal holiday, so most banks will be open on Friday, April 10, this year. Although most federal services still operate on Good Friday, the stock market is the exception: the New York Stock Exchange and Nasdaq will be closed all day on April 10 to observe Good Friday.

The market will reopen on Monday, April 13, and proceed with its normal hours – opening at 9:30 a.m. EST and closing at 4 p.m. EST. The next market holiday is Memorial Day, which falls on Monday, May 25, 2020, although the hours will be reduced the Friday before, on May 22.

There are two rules that dictate stock market closures during holidays, according to the Nasdaq website. The first rule is that “if the holiday falls on a Saturday, the market will close on the preceding Friday,” and the second is “if the holiday falls on a Sunday, the market will close on the subsequent Monday.”

The stock market closes for the full day on the holidays, but there are also a few days that the market closes early for. The hours will be reduced later in 2020 to accommodate Thanksgiving and Christmas, according to the NYSE website.

Good Friday is not a federal holiday in the U.S., which means most federal services, including banks, garbage delivery, postal services, and parks typically remain open. However, with the COVID-19 pandemic still sweeping the nation, many banks have closed their lobbies and limited services to drive-up only, so we encourage readers to keep that in mind when venturing out on Friday.

Although most banks will be open on April 10, we always recommend calling your local branch to be sure of the hours of operation, as some may vary depending on your location. Many bank branches located inside grocery and department stores have already been temporarily shut down due to the coronavirus, so customers will be limited in where they can go. Expect longer wait times than usual, as well as longer lines to the ATM.

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