Juneteenth 2022: are the banks open on June 20?
June 19 is the first new federal holiday this year since Martin Luther King Jr. Day was established some four decades ago in 1983. It marks the anniversary of June 19, 1865, when troops brought the news of freedom to enslaved black people in Galveston, Texas.
US President Joe Biden signed the Juneteenth National Independence Day Act and signed it into law in 2021 as a new federal holiday in the United States to commemorate the end of enslaved African Americans.
“This is a day of deep weight and deep power, a day when we remember the moral stain, the terrible toll that slavery took on the country and continues to take,” Biden said.
If you want to know whether or not the banks will be open on June 16, scroll down for the details!
Holidays from June 16
June 19 is observed tomorrow i.e. June 19, 2022. As the date happens to be the weekend (Sunday) this year, Monday (June 20, 2022) is declared a federal holiday.
In the city of Syracuse, New York, the Festival was presented on both days, viz. yesterday (June 17) and today (June 18) as well as the ancestral celebration scheduled for June 24.
Are banks open/closed for business?
Major U.S. banks are closed on Monday, June 20, on June 19, according to the Federal Reserve website. However, banks’ digital tools and online banking services, including ATMs, will remain operational.
The majority of U.S. financial institutions adhere to the Federal Reserve’s holiday schedule. Bank tellers and other staff will be given additional leave this year. Drive-thru is also closed unless automated.
Below is the list of major US banks that will be closed.
- Bank of America Corp
- JPMorgan Chase & Co.
- Wells Fargo
- The Bank of New York Mellon
- Northern Trust
- Capital one
- American bank
What about US stock markets?
Trading on the New York Stock Exchange (NYSE) and Nasdaq will close on Monday and resume on June 21.
Monday is also a holiday for non-essential federal, state and municipal offices. According to the United States Office of Personnel Management, if Juneteenth falls on a Sunday, Monday will be considered a holiday, while if it falls on a Saturday, Friday is a holiday.
The story behind Juneteenth
Federal troops marched to Galveston, Texas to take the statehood on June 19, 1865. Even though the American Civil War ended, slavery continued in Texas.
Union General Gordon Granger arrived in Texas and read General Order No. 3, which stated: “The people of Texas are informed that, pursuant to a proclamation of the Executive Branch of the United slaves are free.
It took two and a half years after then US President Abraham Lincoln signed the Emancipation Proclamation in 1863. Not all states in America implemented the order to immediately end to slavery.
There are other significant dates in the history of the United States like the surrender of the Confederate Army during the Civil War and the day Lincoln signed the Emancipation Proclamation which is considered the “end” of the slavery in the United States. the majority of citizens are associated with its conclusion.
Stay tuned for more news!