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#1102713 - 12/29/08 02:04 PM CD Maturing on Weekend
Georgia Plum
Unregistered

When a CD matures on a non-banking day such as a weekend or holiday, do you move the maturity date to Friday or Monday? Is there any regulatory requirement either way?

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#1103392 - 12/30/08 01:08 PM Re: CD Maturing on Weekend
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,388
Galveston, TX
It would be a matter of your contract language.
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#1103746 - 12/30/08 06:18 PM Re: CD Maturing on Weekend rlcarey
TrngMgr Offline
Member
Joined: May 2005
Posts: 91
NJ
I would think that most banks go with the next business day. Most banks have a cut-off time, and anything occurring after that point is next business day.

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