The Central Bank of Iceland has decided that New Year’s Eve will no longer be a business day for the Bank, meaning its core payment and settlement operations will be closed on 31 December. The Bank’s real-time gross settlement system, the interbank market for domestic and foreign currency, and its payment card settlement system will be closed that day. Payments to be included with 2025 accounts must be completed by 30 December 2025, and claims that must be paid in 2025 must have a final payment due date no later than Tuesday 30 December; transactions carried out on 31 December 2025 will be entered on 2 January 2026. The decision is reflected in amendments to the Rules on the Central Bank of Iceland Interbank Payment System (No. 1030/2020), published in the Law and Ministerial Gazette on 13 August 2025.
Central Bank of Iceland 2025-12-05
Central Bank of Iceland makes New Year’s Eve a non-business day and closes key payment and interbank settlement systems
The Central Bank of Iceland announced that New Year’s Eve will no longer be a business day, closing its core payment and settlement operations on 31 December. Payments for 2025 accounts must be completed by 30 December, with transactions on 31 December entered on 2 January 2026, as per amendments to the Interbank Payment System Rules.