National Day of Mourning for President George H. W. Bush; Federal Government Closure on Wednesday, December 5, 2018

As the Nation mourns the loss of President George H. W. Bush, President Trump has taken official action to allow Federal employees to join their fellow citizens in remembering our forty-first President of the United States. 

The President has issued an Executive order to close Federal offices and excuse all Federal employees from duty for the scheduled workday on Wednesday, December 5, 2018, except those who, in the judgment of the head of the agency, cannot be excused for reasons of national security, defense, or other essential public business.

The federal government will be closed on Wednesday, as will the New York Stock Exchange and Nasdaq. The U.S. bond market will also be closed for trading on Dec. 5, on the recommendation from the Securities Industry and Financial Markets Association, better known as SIFMA. The CME Group also said it will shutter its U.S.-based equity and interest rate futures and options products.

The United State Postal Service is suspending regular mail deliveries, retail services and administrative office activity, according to a statement. It will provide limited package delivery to avoid negative effects on customers and business partners during the busy holiday season.

Some banks and federal courts will also be closed. The FHLBank Boston recommends funding needs be addressed on Tuesday or delayed until Thursday. Settlement date for funding requested on Tuesday will be Thursday, Dec. 6, 2018. FHLBank Boston will be open regular business hours on Wednesday. Access to short-term funding will be available on Wednesday, but due to the limited market availability, liquidity could be constrained. Questions regarding advances or other transactions should be addressed to your Relationship Manager or call the Money Desk at 800-357-3452, option 1.

Mortgage Partnership Finance® pricing will not be available. Therefore, no new Delivery Commitments will be accepted and there will be no intraday pair-offs. End-of-day pair-offs will be completed using Tuesday’s closing values. Fundings under existing Delivery Commitments will be allowed. All other MPF functions will be available as usual. If you have questions, please contact the MPF service center at 877-463-6673. 

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