Reading Room Document

Closure of District Banks in Emergencies

The document discusses the potential closure of banks in the District of Columbia during emergencies or official days of mourning. It addresses the authority of banks to close on non-holidays and the liabilities they may incur as a result. The conclusion reached is that legislation is needed to allow banks to close temporarily with approval from regulatory authorities, and for those days to be considered legal holidays under the law. The document also presents the question of whether the President has the legal power to directly address the issue of bank closures, and suggests that the President should support the proposed legislation as part of the District's program.

April 16, 1969