Are banks open on New Year’s Eve & Day? How. about the Stock Market? Here’s what you need to know.<\/b>
\nGetty\t The countdown is on to 2022, as Americans await the Times Square ball dropping in New York City. As a federal holiday, many businesses are closed on New Year\u2019s Day, but can the same be said for New Year\u2019s Eve? How do the holidays affect banks and the stock market? Here is what you need to know: Banks typically open throughout the week between 8 and 9 a.m. and close between 4 and 6 p.m., according to Policygenius. However, federal holidays often disrupt that schedule. According to Insider, most financial institutions across the country follow t he Federal Reserve System\u2019s schedule of observed holidays. The publication noted that since New Year\u2019s Eve is not a federal holiday, most banks will be open on December 31,2021. New Year\u2019s Day, however, is featured on the observed holidays, as are Veterans Day, the Birthday of Martin Luther King, Jr., Washington\u2019s Birthday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Columbus Day (Indigenous People\u2019s Day is often observed in its place), Thanksgiving Day and Christmas Day. This year is no different. The below list of banks will be closed in observance of New Year\u2019s Day, with some banks featuring truncated hours on New Year\u2019s Eve. Online banking remains largely open and many call centers are still running. Click on your bank for exact details: Some branches and private banks observe a different schedule. If you have any questions, verify with your local bank. According to USA Today, the New York Stock Exchange and Nasdaq will remain open on New Year\u2019s Day, while bond markets are set to. close at 2 p.m. on December 31,2021. According to the New York Stock Exchange\u2019s website, there is a list of 10 holidays observed in all markets. Those include New Year\u2019s Day, Martin Luther King, Jr. Day, Washington\u2019s Birthday, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. However, this year New Year\u2019s Day will not be observed, with Barron\u2019s citing rule 7.2. It states: \u201cWhen a holiday observed by the Exchange falls on a Saturday, the Exchange will not be open for business on the preceding Friday and when any holiday observed by the Exchange falls on a Sunday, the Exchange will not be open for business on the succeeding Monday, unless unusual business conditions exist, such as the ending of a monthly or yearly accounting period.\u201d The stock market remains open during another commonly observed bank holiday \u2013 Columbus Day. Celebrating Indigenous People\u2019s Day in its place is becoming more widespread. READ NEXT: Anderson Cooper & Andy Cohen\u2019s New Year\u2019s Eve Time\/Channel<\/p>\n