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Bank holiday

Bank holiday, day on which banks are legally closed. In England, such days are fixed annual public holidays. In U.S. history, the term refers to the 4-day period in March 1933 when President Franklin D. Roosevelt ordered all banks closed to halt panic and to assess their financial condition. More than 1,900 banks had collapsed since the beginning of the Depression in 1929.

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21st Century Webster's Family Encyclopedia21st Century Webster's Family Encyclopedia - Augusta to Barlach, Ernst