New Statutory Holiday on September 30, National Day for Truth and Reconciliation

September 30 is National Day for Truth and Reconciliation, a new federal statutory holiday. The day recognizes the colonial legacy of residential schools, honour Indigenous survivors, and is vital to the ongoing reconciliation process.

This statutory holiday means federally regulated sectors such as banks will be closed in observance of the national day.

The Bank of Canada, Payments Canada, and the Investment Industry Association of Canada will be closed on September 30.

Like any other statutory holiday, a bank closure will affect the timing of mortgage registration and distribution of funds between buyer and seller. However, this does not mean private sector businesses like law firms and notaries will be closed.

Be sure to contact your legal representatives to ensure they are open and operating on September 30. If your clients have a scheduled closing this day, it's imperative you directly contact your bank, lawyer, notary, and land registry offices for more information.

If you have any further concerns or questions, contact your managing broker and real estate board.

Resources to Learn More About Truth and Reconciliation

We invite REALTORS^® to commemorate the National Day for Truth and Reconciliation. Here are some resources to help gain a better understanding of this day:

• Residential School History
• Truth and Reconciliation Commission Reports
• Origins and History of Orange Shirt Day on September 30
• Indigenous Canada: A free online course from the University of Alberta

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