President Donald Trump declared over the weekend that Wednesday, Dec. 5, 2018 will be a National Day of Mourning to honor the memory of President George H.W. Bush. How will this declaration impact banking functions on Wednesday?
On Wednesday, Dec. 5, 2018:
- Federal Reserve Bank payment and securities settlement systems will operate normally;
- Reserve Bank cash offices will fulfill currency and coin orders according to normal operating procedures;
- The U.S. Postal Service will not deliver regular mail;
- The New York Stock Exchange and Nasdaq will close;
- Dealers serving the fixed-income cash markets have the option to close; and
- Settlements in municipal and corporate securities will occur as scheduled since the DTCC/NSCC will remain open on Wednesday.
View other ways in which the National Day of Mourning might affect you in USA Today.