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The LSTA Recommends Treating Friday, April 14th as a Loan Market Holiday When Calculating Delayed Compensation

April 13, 2017, New York, NY – In observance of Good Friday in the United States, the Loan Syndications and Trading Association (LSTA) recommends treating Friday, April 14, 2017 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation. 

Delayed compensation accrues on loan market trades that do not settle within a set number of business days after trade date.  Business days do not include Saturdays, Sundays or any day the Federal Reserve Bank of New York is closed.  The LSTA recognizes both the New York Stock Exchange and the Federal Reserve Bank of New York holiday closings when making its recommendations.  The New York Stock Exchange will be closed on April 14, 2017, in observance of Good Friday.

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