Are the banks closed on Presidents' Day in 2023? That's a question plenty of folks are asking just ahead of the federal holiday. The answer is yes, banks are closed on Presidents' Day, or Washington's Birthday, as the holiday is also known.
Washington's Birthday became a federal holiday in 1879 as a way to commemorate America's first president. It was initially celebrated on Feb. 22, George Washington's birthday. Its purpose has since been expanded to honor all those who have served as president of the United States, and in 1970, the federal holiday was moved to the third Monday in February. The three-day weekend marks the third bank holiday so far in 2023.
As for stock market holidays – particularly for those asking "is the stock market open on Presidents' Day" – the stock market is typically closed on the federal holiday. Bond traders also get a three-day weekend, with bond markets shuttered on Washington's Birthday, too.
For those wondering what time does the market open for regular trading hours, both the Nasdaq Stock Market and the New York Stock Exchange (NYSE) are open from 9:30 a.m. to 4:00 p.m. Eastern time Monday through Friday.
If you're looking to take some time over the three-day weekend to get a head start on your tax preparation, have a look at what you need to know before filing for tax season 2023. Additionally, don't forget to check out the income tax brackets and standard deductions for 2022 and 2023. And while we're on the topic of taxes, be sure to see if the earned income tax credit can help you.
Below, we feature a full schedule of all U.S. bank holidays for 2023. Please note that the list includes Juneteenth – the June 19 holiday commemorating the end of slavery – which became the 11th federal holiday by vote of Congress in 2021.
Bank Holidays 2023
|January 2||Monday||New Year's Day (Observed)|
|January 16||Monday||Martin Luther King, Jr. Day|
|February 20||Monday||President's Day|
|May 29||Monday||Memorial Day|
|July 4||Tuesday||Independence Day|
|September 4||Monday||Labor Day|
|October 9||Monday||Columbus Day|
|November 11||Saturday||Veterans Day|
|November 23||Thursday||Thanksgiving Day|
|December 25||Monday||Christmas Day|
* This is the recommended bank market holiday schedule from the Federal Reserve. This schedule is subject to change.
With over a decade of experience writing about the stock market, Karee Venema is an investing editor and options expert at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
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