Banks: When will they close for 4 days – What transactions will we not be able to perform – Newsbomb – News

Banks: Catholic Easter brings quite a few problems to our transactions

Catholic Easter brings “headaches” to the market and consumers Banks will also download lists for four days At the end of March.

Those who have installments, debts, or pay salaries to employees should be especially careful.

Greek banks warned that:Due to the Catholic Easter holiday, debt payments and transfers recorded on Friday, March 29 and Monday, April 1 will be processed on Tuesday, April 2, which is the next business day.».

Transfers within the same bankAlthough they are expected to be culled naturally, It will have a value date of Tuesday, April 2nd.

Great attention should also be paid to implementation PayrollIt must be entered in the payroll file with the name Implementation date: Tuesday, April 2.

It is worth noting that on Friday, March 29 and Monday, 1 AprilIt will also remain closed Athens Stock Exchange.

This year, Catholic Easter falls on Sunday, March 31. It is a date determined by the Sunday following the first full moon after the vernal equinox.

What does the legislation say?

What is stated in Article 11 entitled “Special Holiday for Interbank Transactions” highlights the following:

1. Special holidays for interbank transactions are defined as those of the Trans-European Automated Rapid Transfer of Funds in Continuous Time (TARGET System), as applied from time to time based on the guidelines of the European Central Bank, which do not coincide with a holiday. Legal within the territory. By the end of October each year, the Bank of Greece announces the special interbank transaction holidays mentioned in this paragraph that will be valid for the following year.

The special holiday hereby established for interbank transactions applies to the Bank of Greece, the Athens Stock Exchange, the Central Securities Depository, the Athens Derivatives Exchange, the Derivatives Clearing Company (EESEP), and Interbank Systems SA, as well as to the following trading categories:

a. Credit institutions operating in Greece, which include Greek credit institutions, the Postal Savings Bank, the Deposit and Loan Fund and branches of foreign banks.

B. Investment services companies.

C. Leasing companies and trade receivables agency companies.

D- Anonymous fund management companies and anonymous portfolio investment companies.

2. On a special holiday for interbank transactions, all overdue obligations arising from existing contracts between Paragraph 1 entities and all types of their clients, as well as other overdue obligations generally on the same day of their clients. To any third party, it will be fulfilled on the next business day, when the consequences of any non-fulfillment begin.

3. Transactions to be carried out with the bodies mentioned in Paragraph 1 Sec. A' On a special holiday, interbank transactions will be recorded in the systems of these institutions on the next working day.

4. A special trading holiday is a working day for employees of the above-mentioned institutions and companies.

5. On a special holiday for interbank transactions, obligations arising from the servicing of public debt, loans and securities of the Greek State will be fulfilled in accordance with these special conditions on the preceding or following business day.