InvestorWords.com

Definitions (2)

1. In the United States, the temporary closing of a bank in the event that its obligations exceed its resources.

2. In the United Kingdom and Ireland, a public holiday on which the banks are closed. A bank holiday is generally not a major holiday such as Christmas Day (although, the banks are indeed closed on these holidays), but instead a day that would otherwise be a non-holiday. For example, the first Monday in May is considered a bank holiday, and banks along with many other businesses close for the day.

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