MN SF1735

Allows financial institutions to remain closed on Saturdays following Friday holidays or preceding Sunday or Monday holidays, in addition to Mondays following Sunday holidays.

Clarifies that any Saturday or Monday closure by a financial institution constitutes a holiday and business day, with no liability resulting from such closures.

Modifies state bank lending limits to include credit exposure from derivative transactions in calculating liabilities, with derivative transactions defined as contracts based on currencies, interest rates, or related indices subject to commerce commissioner regulation.

Changes lending limit language to reference "the bank's capital" instead of "its capital" and adjusts grammatical language for clarity in liability calculations.

Repeals Minnesota Statutes sections 48.50 and 48.51 relating to obsolete language on deposits payable on demand.