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The bank holidays are days when the banks remain closed. These holidays depend on a variety of factors like acts that specify such holidays as well as festivities when a bank holiday is in order. The term carries different implications in various countries of the world.
For example in the United Kingdom and Ireland this term signifies a public holiday when almost everybody would be having a day off. However, it is seen that in bank holidays there is a certain section that is working. Common examples would be people working in the utilities, police, fire, health care and ambulance sectors.
In the United States of America there are no holidays as such as the banks are normally closed on each and every federal holiday. However, in America this term would be used in order to imply bank closures that are done on an emergency basis. These are normally mandated by acts of the Congress or executive orders. These are announced so that critical financial issues could be addressed.
Under normal circumstances there are no restrictions on workers during the bank holidays as far as right to time off is concerned. However, working in these holidays can be an attractive financial proposition as the workers receive additional payment for any work done in these days.
An interesting fact about the banking holidays is that even though there are obvious implications of banks being shut, in actuality the banks stay open. In countries where this happens the law making bodies make allowances for the payments to be made, by that bank, to be postponed to the immediately next working day.
There are certain holidays when the banks remain closed like the Christmas and Good Friday for example. However, these days are not regarded as bank holidays.
There were a couple of holidays 2010 at Ireland on 2nd June, 4th August and 27th October. In Japan 2nd and 3rd January and 31st December were bank holidays. It is likely that the dates for bank holidays 2010 would be the same in Japan.
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