### Question
How is the term business day defined?


### Answer
The term **business day** is defined in *12 U.S.C. § 4617* as the following:

> any day other than any Saturday, Sunday, or any day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed

#### Citation:
  - *12 U.S.C. § 4617*
  - Heading: **CHAPTER 46-GOVERNMENT SPONSORED ENTERPRISES > SUBCHAPTER II-REQUIRED CAPITAL LEVELS FOR REGULATED ENTITIES, SPECIAL ENFORCEMENT POWERS, AND REVIEWS OF ASSETS AND LIABILITIES**

