Today is Veteran's Day and we are open. For Reg CC purposes do we count today as a business day? Our core processor is not processing work and the Federal Reserve is closed.

If it's not a "business day," it cannot be a "banking day."

(g) Business day means a calendar day other than a Saturday or a Sunday, January 1, the third Monday in January, the third Monday in February, the last Monday in May, July 4, the first Monday in September, the second Monday in October, November 11, the fourth Thursday in November, or December 25. If January 1, July 4, November 11, or December 25 fall on a Sunday, the next Monday is not a business day.

I am reading under Reg CC: If substantially all business functions are open then it is a banking day. The only thing that is not operational is the work processing.

(f) Banking day means that part of any business day on which an office of a bank is open to the public for carrying on substantially all of its banking functions.

For there to be any consideration of whether a bank is open for carrying on...etc. it has to first be a "business day." As noted above, November 11 is not a business day.

As Ken said the two definitions work together.

(f) Banking day means that part of any business day on which an office of a bank is open to the public for carrying on substantially all of its banking functions.

(g) Business day means a calendar day other than a Saturday or a Sunday, January 1, the third Monday in January, the third Monday in February, the last Monday in May, July 4, the first Monday in September, the second Monday in October, November 11, the fourth Thursday in November, or December 25. If January 1, July 4, November 11, or December 25 fall on a Sunday, the next Monday is not a business day.

So if it is not a Banking day and not a Business day, and we are open, what is it?

Just a work day for you!

It's a bummer...that's what!

Confusing

It's really not. To be a banking day it must meet the definition of business day. It does not meet the definition of a business day therefore it cannot be a banking day for the purposes of Reg CC regardless of the work you do at the bank that day.