Good Friday Designated as Public Holiday (promulgated)

UniCredit Bank Hungary Zrt.
The amendment to the Labour Code, officially declaring Good Friday as a new public holiday in Hungary from 2017, was promulgated yesterday in the Official Gazette.
Fri, 17/03/2017

Further to our earlier newsflash, in which we informed you that the draft amendment on declaring Good Friday a public holiday in Hungary was passed by the Hungarian Parliament; we hereby advise you that the amendment to the Labour Code was yesterday promulgated in the Official Gazette. Good Friday is now officially a new public holiday in Hungary. Accordingly, Easter will be a four-day holiday starting from this year.

Impact on investors: From this year onwards, Good Friday is now officially declared as a public holiday in Hungary. On public holidays, banks, the CSD, and the Stock Exchange are all closed. Therefore, no clearing or settlements can take place.