Are banks open on New Year's Eve? This is a question many folks are asking because in 2022 New Year's Eve fell on a Saturday.
The short answer is yes, banks are open on New Year's Eve. However, because New Year's Day falls on a Sunday in 2023, banks closed on Monday, Jan. 2, 2023, in observance of the holiday.
As for stock market holidays – particularly for those asking "is the stock market open on New Year's" – the stock market is typically open on New Year's Eve, while the bond market closes early. Both markets are usually closed for all of New Year's Day. However, given that these holidays fall on a weekend this year, markets will be closed for trading on Monday, Jan. 2. Bond traders, however, get an extra-long weekend, with bond markets closing early on Friday, Dec. 30, at 2 p.m. Eastern.
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 this holiday season to plan for your financial new year, consider these five year-end financial planning strategies for an uncertain market. Additionally, don't forget to check out the newly released standard deduction amounts you can claim on your 2023 tax returns. And while we're on the topic of taxes, be sure to familiarize yourself with charitable-giving strategies that have tax advantages for retirees.
Below, we feature a full schedule of all U.S. bank holidays for 2022 and 2023. Please note that the list includes Juneteenth – the June 19 holiday commemorating the end of slavery – which became the 12th federal holiday by vote of Congress in 2021.
Bank Holidays 2022
|January 17||Monday||Martin Luther King, Jr. Day|
|February 21||Monday||President's Day|
|May 30||Monday||Memorial Day|
|June 20||Monday||Juneteenth (Observed)|
|July 4||Monday||Independence Day|
|September 5||Monday||Labor Day|
|October 10||Monday||Columbus Day|
|November 11||Friday||Veterans Day|
|November 24||Thursday||Thanksgiving Day|
|December 26||Monday||Christmas Day (Observed)|
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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