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We heard that the Trump administration declared Christmas Eve a federal holiday. Will the Federal Reserve System also adopt Christmas Eve as a holiday? – IBA Compliance Connection

IBA Compliance Connection

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We heard that the Trump administration declared Christmas Eve a federal holiday. Will the Federal Reserve System also adopt Christmas Eve as a holiday?

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We do not believe that Christmas Eve has been declared a federal holiday by the Federal Reserve System, and it has not added Christmas Eve to its list of observed holidays for 2020 (nor has the IDFPR).

President Trump’s recent Executive Order 13965 declares that all executive departments and agencies of the Federal Government “shall be closed and their employees excused from duty” on December 24, 2020, but does not establish Christmas Eve as a permanent federal holiday. Additionally, heads of executive departments and agencies may still determine that certain offices and installations of their organizations must remain open and that certain employees must report for duty for reasons of national security, defense, or other public need.

For resources related to our guidance, please see:

  • Executive Order 13965 (December 16, 2020) (“Section 1. All executive departments and agencies of the Federal Government shall be closed and their employees excused from duty on Thursday, December 24, 2020, the day before Christmas Day. Sec. 2. The heads of executive departments and agencies may determine that certain offices and installations of their organizations, or parts thereof, must remain open and that certain employees must report for duty on December 24, 2020, for reasons of national security, defense, or other public need.”)