by Baldev S. Gill, Chief Executive Officer
Today’s eMemo contains the following updates:

  • Federal Government designates September 30 as a public holiday: National Day for Truth and Reconciliation
  • Bank of Canada closed for business September 30, 2021
  • FVREB offices to remain open until further notice from the provincial government

As you may be aware, the federal government has designated September 30 as the National Day for Truth and Reconciliation. Starting September 30, 2021, this day will be observed as a federal statutory holiday.

Traditionally, this date has been known as Orange Shirt Day. This new national day is meant to recognize the tragic history of loss, and the lasting effects of Canada’s residential school system. It honours First Nations, Inuit and Métis residential school survivors, their families, and communities, as a vital part in the process of reconciliation.

Bank of Canada Closed

The Bank of Canada will be closed and further confirms that, according to Payments Canada and the Investment Industry Association of Canada, Canada’s payments clearing and settlement systems and domestic bond and money markets will be also be closed on September 30.

Anticipated Business Implications Ahead of September 30

As a federally regulated sector, banks will be closed in observance of the national day. We expect that additional closures (for example: notaries and related services) may further impact how members conduct business. For the time being, members are advised to plan accordingly and, if possible, avoid September 30 as a completion date for all upcoming transactions.

Business as Usual at Fraser Valley Real Estate Board Until Further Notice

While September 30 will be a statutory holiday for federal employees, each province has the discretion to determine whether or not to observe it as such within their respective jurisdictions. Board offices will be open for business as usual unless the holiday is provincially mandated.   

We will continue to provide updates on these matters as new information becomes available. Should you need further guidance, please contact your Managing Broker or the Board office.

Have a good week and stay safe.

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