its the most logical translation into english language of the government-mandated action that closes bank depositor windows at the start... or during a bank run... prior to a major currency devaluation.
This is true at least in french, portuguese, and spanish.
I understand the problem that a "bank holiday" in the US is actually used to identify a federal holiday.
I don't think this expression has been used a lot in recent times (in anglo nations) since there hasn't been hyperinflation in US, UK...but there is a record of such expression :
The expression "Bank Holiday" is actually really common in the UK - I would expect most brits to know it. We use it to refer to a public holiday in which the banks are closed, there are quite a few every year. It has very positive connotations here.
How disappointing (and unsurprising) that Lebanon is not included in this group.
That country has suffered so much recently, COVID, Economic Depression, Bank Holiday, Syrian Refugee crisis, Explosions...
and yet their politicians can't seem to do 2+2. Horrible.